Revenue
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2022
2023
2024
2025
| 2025 | 2024 | 2023 | 2022 · Dec 31 | 2022 · Jun 30 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $884,000 | $1.5M | $1.4M | $0 | $10.8M | $10.1M | $9.7M | $7.3M | $5.9M | $4.8M | $4.8M | $4.6M | $4.2M | $4.5M | $5.1M | $5.2M |
| Gross profit | — | — | $1.4M | $0 | $0 | $5.1M | $5.1M | $3.0M | $1.8M | $838,000 | $129,000 | $167,000 | −$196,471 | $150,176 | $703,204 | $1.2M |
| Gross margin | — | — | 100.00% | — | 0.00% | 50.94% | 52.93% | 41.66% | 31.10% | 17.60% | 2.70% | 3.63% | −4.66% | 3.32% | 13.87% | 22.09% |
| Research & development | $84.2M | $41.6M | $21.3M | $881,000 | $850,000 | $1.4M | $1.1M | $1.5M | $1.7M | $965,000 | $528,000 | $615,000 | $668,803 | $627,107 | $780,579 | $981,186 |
| Operating expenses | $114.4M | $92.3M | $42.4M | $8.7M | $6.4M | $8.6M | $8.6M | $8.3M | $8.6M | $7.1M | $5.2M | $4.5M | $4.4M | $4.2M | $4.3M | $4.1M |
| Operating income | −$113.6M | −$90.9M | −$40.9M | −$8.7M | −$6.4M | −$3.4M | −$3.5M | −$5.3M | −$6.7M | −$6.3M | −$5.1M | −$4.3M | −$4.6M | −$4.1M | −$3.6M | −$3.0M |
| Operating margin | −12,846.61% | −6,250.76% | −2,855.02% | — | −59.46% | −34.28% | −35.91% | −71.83% | −113.61% | −132.47% | −106.56% | −94.16% | −108.75% | −89.88% | −70.95% | −56.56% |
| EBITDA | −$110.3M | −$88.6M | −$40.0M | −$8.4M | −$6.2M | −$3.3M | −$3.3M | −$5.1M | −$6.6M | −$6.2M | −$4.6M | −$3.8M | −$3.9M | −$3.3M | −$2.8M | −$2.1M |
| EBITDA margin | −12,478.85% | −6,092.16% | −2,786.26% | — | −57.10% | −32.43% | −34.00% | −69.29% | −111.41% | −131.04% | −96.69% | −81.65% | −92.50% | −73.55% | −54.25% | −39.60% |
| Net income | −$103.1M | −$79.3M | −$46.5M | −$10.8M | −$7.3M | −$3.4M | −$3.4M | −$5.1M | −$6.7M | −$6.2M | −$4.7M | −$3.7M | −$6.0M | −$3.9M | −$3.5M | −$2.8M |
| Net profit margin | −11,665.27% | −5,452.48% | −3,243.24% | — | −67.36% | −33.69% | −35.60% | −70.33% | −113.12% | −129.43% | −98.78% | −79.92% | −141.24% | −85.22% | −68.80% | −54.25% |
| Basic EPSper basic share | -$1.40 | -$1.23 | -$1.74 | -$0.80 | -$0.50 | -$0.30 | -$0.50 | -$0.80 | -$1.20 | -$1.10 | -$0.90 | -$0.70 | -$1.60 | -$1.10 | -$12.00 | -$11.00 |
| Diluted EPSper diluted share | -$1.40 | -$1.23 | -$1.74 | — | -$0.50 | -$0.30 | -$0.50 | -$0.80 | -$1.20 | -$1.10 | -$0.90 | -$0.70 | -$1.60 | -$1.10 | -$12.00 | -$11.00 |
Reported shareholders
| Holder | % owned |
|---|---|
BlackRock, Inc. | 8.32%9.49M shares |
TCG Crossover Management, LLC | 6.94%7.92M shares |
Commodore Capital LP | 5.55%6.34M shares |
Avidity Partners Management LP | 5.52%6.3M shares |
STATE STREET CORP | 5.30%6.05M shares |
MILLENNIUM MANAGEMENT LLC | 4.31%4.91M shares |
Nantahala Capital Management, LLC | 4.08%4.65M shares |
VANGUARD CAPITAL MANAGEMENT LLC | 3.89%4.44M shares |
Affinity Asset Advisors, LLC | 3.69%4.21M shares |
CITADEL ADVISORS LLC | 3.34%3.81M shares |
Spruce Street Capital LP | 3.24%3.69M shares |
Balyasny Asset Management L.P. | 2.91%3.32M shares |
GEODE CAPITAL MANAGEMENT, LLC | 2.16%2.46M shares |
MORGAN STANLEY | 1.68%1.91M shares |
GOLDMAN SACHS GROUP INC | 1.52%1.73M shares |
Nicholson Wealth Management Group, LLC | 1.42%1.62M shares |
TWO SIGMA INVESTMENTS, LP | 1.36%1.56M shares |
ADAR1 Capital Management, LLC | 1.06%1.21M shares |
VANGUARD PORTFOLIO MANAGEMENT LLC | 0.95%1.09M shares |
DIMENSIONAL FUND ADVISORS LP | 0.94%1.07M shares |
Percentages use 114.09M shares of this listed class outstanding on Jun 30, 2026.
Gray completes the 100% scale. Reported positions may overlap; holders have different reporting dates.
| Transaction | Insider | Type | Shares | Price | Value | Owned after |
|---|---|---|---|---|---|---|
| Nov 13, 2025Form 4 | Hunt Jonathan RobertChief Accounting Officer | BuyCommon Stock | 11.0K | $2.03 | $22.3K | 59.8K |
| Nov 12, 2025Form 4 | Williamson Robert F IIIDirector | BuyCommon Stock · indirect | 9.5K | $2.10 | $19.9K | 9.9K |
| Mar 31, 2025Form 4 | Williamson Robert F IIIDirector | BuyCommon Stock | 38.1K | $2.14 | $81.6K | 109.0K |
| Mar 31, 2025Form 4 | Woods Lori ADirector | BuyCommon Stock · indirect | 23.5K | $2.13 | $50.0K | 183.5K |
| Mar 28, 2025Form 4 | Spoor Johan M.Chief Executive Officer | BuyCommon Stock · indirect | 4.7K | $2.21 | $10.3K | 4.7K |