INDI indie Semiconductor, Inc. - Class A Common Stock
$3.90
Price · May 20, 2026
Fundamentals as of May 11, 2026
52W Range
$2–$6
43% of range
Analyst Rating
BUY
13 analysts
Price Target
$6
+57% upside
P/E (TTM)
-4.8
ROE
-36.9%
Net Profit Margin
-65.8%
INDI Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$3.90
Market Cap
—
P/E (TTM)
-4.8
EPS (TTM)
$-0.73
Revenue (TTM)
$217M
Div Yield
—
ROE
-36.9%
Debt/Equity
0.9
52W Range
$2 – $6
INDI Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view
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10-Year Performance Revenue, net income, margins and EPS trends
Revenue & Net Income
$217M
2020-12-31
→
2025-12-31
EPS
$-0.73
2020-12-31
→
2025-12-31
Free Cash Flow
$-71M
2021-12-31
→
2025-12-31
Margins
-65.8%
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Metric
5Y trend
INDI
Peer Median
P/E (TTM)
-4.8
45.7
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Metric
5Y trend
INDI
Peer Median
Operating Margin
-70.9%
—
Net Profit Margin
-65.8%
-32.1%
ROA
-16.1%
-12.7%
ROE
-36.9%
-20.8%
ROIC
-21.7%
—
Financial Health Debt, liquidity, solvency — balance sheet strength
Metric
5Y trend
INDI
Peer Median
Debt / Equity
0.9
7.1
Current Ratio
3.7
3.5
Quick Ratio
2.7
—
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Metric
5Y trend
INDI
Peer Median
Revenue YoY
0.33%
—
Revenue CAGR 3Y
25.2%
—
Revenue CAGR 5Y
57.2%
—
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
Metric
5Y trend
INDI
Peer Median
INDI Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
BUY
13 analysts
- Strong Buy 2 15.4%
- Buy 9 69.2%
- Hold 2 15.4%
- Sell 0 0.0%
- Strong Sell 0 0.0%
12-Month Price Target
7 analysts · 2026-05-16
Median
$6.00
← Below all targets
$3.90
Low
$4.75
High
$8.00
Median target
$6.00
+54.0%
Mean target
$6.11
+56.8%
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
0.00%
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| March 31, 2026 | $-0.07 | $-0.07 | -0.00% |
| Dec. 31, 2025 | $-0.06 | $-0.07 | 0.01% |
| Sept. 30, 2025 | $-0.07 | $-0.06 | -0.01% |
| June 30, 2025 | $-0.08 | $-0.08 | 0.00% |
| March 31, 2025 | $-0.08 | $-0.08 | 0.00% |
Peer Comparison Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| INDI | — | -4.8 | 0.33% | -65.8% | -36.9% | — |
| PENG | $1.27B | 86.2 | 16.9% | 1.8% | 6.5% | 28.8% |
| SKYT | $884M | 7.5 | 29.2% | 26.9% | 97.7% | 19.7% |
| AMBQ | $522M | -6.2 | -4.7% | -50.3% | 50.3% | 44.3% |
| AOSL | $770M | -7.8 | 5.9% | -13.9% | -11.2% | 23.1% |
| CEVA | $592M | -48.9 | 2.5% | -9.7% | -3.5% | 87.1% |
| KOPN | $421M | 238.0 | 51.5% | 170.3% | 6.5% | — |
| MRAM | $213M | -309.3 | 9.5% | -1.1% | -0.88% | 51.2% |
| NVEC | $317M | 20.9 | 1.8% | 57.7% | 25.2% | 78.7% |
| DVLT | $373M | -1.2 | 1361.8% | -202.1% | -50.6% | 77.8% |
| QUIK | — | -7.1 | -29.9% | -107.6% | -59.1% | 22.0% |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement 17
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Revenue | $217M | $217M | $223M | $111M | $48M | $23M | |
| Cost of Revenue | $131M | $126M | $134M | $60M | $29M | $13M | |
| R&D Expense | $154M | $175M | $155M | $121M | $58M | $22M | |
| SG&A Expense | $78M | $81M | $70M | $48M | $36M | $7M | |
| Operating Expenses | $372M | $387M | $359M | $230M | $123M | $42M | |
| Operating Income | $-154M | $-170M | $-135M | $-119M | $-75M | $-19M | |
| Interest Expense | · | · | $9M | $2M | $1M | $2M | |
| Interest Income | $7M | $5M | $8M | $3M | $49.0K | $25.0K | |
| Other Non-op | $1M | $-400.0K | $-1M | $-107.0K | $42.0K | $229.0K | |
| Pretax Income | $-154M | $-146M | $-133M | $-54M | $-119M | $-98M | |
| Income Tax | $-3M | $-2M | $-5M | $-1M | $-327.0K | $29.0K | |
| Net Income | $-143M | $-133M | $-118M | $-43M | $-88M | $-97M | |
| EPS (Basic) | $-0.73 | $-0.76 | $-0.81 | $-0.37 | $-1.26 | $-3.12 | |
| EPS (Diluted) | $-0.73 | $-0.76 | $-0.81 | $-0.37 | $-1.26 | $-3.12 | |
| Shares (Basic) | 197,246,432 | 175,029,650 | 145,188,867 | 118,660,785 | 70,012,112 | 31,244,414 | |
| Shares (Diluted) | 197,246,432 | 175,029,650 | 145,188,867 | 118,660,785 | 70,012,112 | 31,244,414 | |
| EBITDA | $-154M | $-170M | · | $-119M | $-75M | · |
Balance Sheet 27
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $145M | $274M | $152M | $322M | $219M | $19M | |
| Receivables | $57M | $52M | $64M | $26M | $14M | $6M | |
| Inventory | $49M | $50M | $33M | $13M | $9M | $3M | |
| Prepaid Expense | $24M | $22M | $23M | $12M | $6M | $2M | |
| Current Assets | $286M | $409M | $272M | $374M | $248M | $30M | |
| PP&E (Net) | $43M | $34M | $27M | $16M | $11M | $2M | |
| PP&E (Gross) | $74M | $55M | $42M | $25M | $17M | $7M | |
| Accum. Depreciation | $30M | $21M | $15M | $9M | $6M | $5M | |
| Goodwill | $293M | $266M | $295M | $136M | $114M | $2M | |
| Intangibles | $196M | $209M | $208M | $63M | $96M | $1M | |
| Other Non-current Assets | $9M | $7M | $3M | $2M | $270.0K | $154.0K | |
| Total Assets | $841M | $941M | $819M | $603M | $469M | $35M | |
| Accounts Payable | $22M | $28M | $18M | $14M | $5M | $5M | |
| Accrued Liabilities | $25M | $29M | $21M | $11M | $16M | $3M | |
| Short-term Debt | · | · | · | · | $810.0K | $459.0K | |
| Current Liabilities | $77M | $85M | $139M | $64M | $34M | $122M | |
| Capital Leases | $13M | $14M | $11M | $10M | $0 | · | |
| Deferred Tax | $14M | $12M | $14M | $8M | $20M | $0 | |
| Other Non-current Liabilities | $7M | $4M | $22M | $2M | $6M | $2M | |
| Total Liabilities | $457M | $496M | $342M | $289M | $177M | $137M | |
| Long-term Debt | $353M | $381M | $161M | · | · | · | |
| Total Debt | $340M | $369M | · | $156M | $6M | · | |
| Paid-in Capital | $999M | $937M | $814M | $569M | $515M | $43M | |
| Retained Earnings | $-637M | $-494M | $-361M | $-244M | $-200M | $-153M | |
| AOCI | $-4M | $-25M | $-6M | $-12M | $-1M | $-209.0K | |
| Stockholders' Equity | $358M | $418M | $446M | $313M | $313M | $-110M | |
| Liabilities + Equity | $841M | $941M | $819M | $603M | $469M | $35M |
Cash Flow 15
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Stock-based Comp | $65M | $67M | $44M | $42M | $23M | $0 | |
| Deferred Tax | $-4M | $-4M | $-5M | $-2M | $-516.0K | $11.0K | |
| Amort. of Intangibles | $32M | $33M | $26M | $12M | $5M | $2M | |
| Restructuring | $9M | $4M | $0 | $0 | · | · | |
| Operating Cash Flow | $-57M | $-59M | $-104M | $-77M | $-56M | $-21M | |
| CapEx | $14M | $14M | $13M | $8M | $3M | $637.0K | |
| Investing Cash Flow | $-32M | $-19M | $-108M | $-16M | $-84M | $-771.0K | |
| Stock Issued | · | $0 | $0 | $42M | $0 | · | |
| Stock Repurchased | · | $0 | $0 | $7M | $0 | · | |
| Net Stock Activity | · | $0 | · | $34M | · | · | |
| Financing Cash Flow | $-39M | $209M | $44M | $193M | $341M | $33M | |
| Net Change in Cash | $-129M | $133M | $-170M | $102M | $201M | $12M | |
| Taxes Paid | $674.0K | $0 | $0 | · | · | · | |
| Free Cash Flow | $-71M | $-73M | · | $-84M | $-59M | · | |
| Levered FCF | · | · | · | $-86M | $-60M | · |
Profitability 7
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Operating Margin | -70.9% | -78.5% | · | -107.5% | -154.5% | · | |
| Net Margin | -65.8% | -61.2% | · | -39.2% | -181.9% | · | |
| Pretax Margin | -70.7% | -67.4% | · | -48.6% | -245.7% | · | |
| EBITDA Margin | -70.9% | -78.5% | · | -107.5% | -154.5% | · | |
| ROA | -16.1% | -15.1% | · | -8.1% | -34.8% | · | |
| ROE | -36.9% | -30.7% | · | -13.9% | -86.9% | · | |
| ROIC | -21.7% | -21.3% | · | -24.9% | -23.4% | · |
Liquidity & Solvency 5
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Current Ratio | 3.7 | 4.8 | · | 5.8 | 7.4 | · | |
| Quick Ratio | 2.7 | 3.8 | · | 5.4 | 6.9 | · | |
| Debt / Equity | 0.9 | 0.9 | · | 0.5 | 0.0 | · | |
| LT Debt / Equity | 0.9 | 0.9 | · | 0.5 | 0.0 | · | |
| Interest Coverage | · | · | · | -70.4 | -60.4 | · |
Efficiency 3
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.2 | 0.2 | · | 0.2 | 0.2 | · | |
| Inventory Turnover | 2.7 | 3.0 | · | 5.4 | 4.8 | · | |
| Receivables Turnover | 4.0 | 3.7 | · | 5.5 | 4.9 | · |
Growth Rates 3
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Revenue YoY | 0.33% | -2.9% | 101.4% | 128.9% | 114.1% | · | |
| Revenue CAGR 3Y | 25.2% | 64.8% | 114.5% | · | · | · | |
| Revenue CAGR 5Y | 57.2% | · | · | · | · | · |
Valuation (TTM) 4
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Revenue TTM | $217M | $217M | $223M | $111M | $48M | · | |
| Net Income TTM | $-143M | $-133M | $-118M | $-43M | $-88M | · | |
| P/E | -4.8 | -5.3 | -10.0 | -15.8 | -9.5 | · | |
| Earnings Yield | -20.7% | -18.8% | -10.0% | -6.3% | -10.5% | · |
Income Statement 17
| Metric | Trend | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 | Q2 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $55M | $58M | $54M | $52M | $54M | $58M | $54M | $52M | $52M | $70M | $60M | $52M | $40M | $33M | $30M | $26M | |
| Cost of Revenue | $34M | $36M | $32M | $31M | $32M | $33M | $33M | $30M | $30M | $42M | $35M | $32M | $24M | $16M | $15M | $15M | |
| R&D Expense | $39M | $36M | $38M | $38M | $42M | $38M | $46M | $41M | $50M | $34M | $42M | $42M | $37M | $33M | $30M | $28M | |
| SG&A Expense | $21M | $19M | $21M | $18M | $19M | $20M | $21M | $17M | $22M | $15M | $20M | $19M | $17M | $13M | $11M | $12M | |
| Operating Expenses | $94M | $92M | $92M | $95M | $93M | $92M | $104M | $89M | $102M | $92M | $97M | $93M | $77M | $62M | $56M | $56M | |
| Operating Income | $-39M | $-34M | $-38M | $-43M | $-39M | $-34M | $-50M | $-37M | $-50M | $-22M | $-36M | $-41M | $-37M | $-29M | $-26M | $-30M | |
| Interest Expense | · | · | · | · | · | · | · | · | $2M | · | $2M | $2M | $2M | · | $166.0K | $267.0K | |
| Interest Income | $873.0K | $1M | $2M | $2M | $2M | $1M | $994.0K | $1M | $1M | $2M | $2M | $2M | $2M | $2M | $612.0K | $175.0K | |
| Other Non-op | $-361.0K | $483.0K | $-28.0K | $2M | $-736.0K | $-302.0K | $702.0K | $-553.0K | $-247.0K | $-912.0K | $-692.0K | $429.0K | $0 | $-110.0K | $24.0K | $9.0K | |
| Pretax Income | $-47M | $-34M | $-41M | $-41M | $-37M | $-35M | $-55M | $-21M | $-35M | $-16M | $-18M | $-13M | $-86M | $-16M | $-45M | $-6M | |
| Income Tax | $-319.0K | $-3M | $-363.0K | $565.0K | $56.0K | $-584.0K | $-315.0K | $86.0K | $-1M | $-2M | $650.0K | $342.0K | $-4M | $-370.0K | $863.0K | $-869.0K | |
| Net Income | $-43M | $-31M | $-38M | $-39M | $-35M | $-33M | $-50M | $-19M | $-31M | $-15M | $-17M | $-13M | $-73M | $-12M | $-38M | $-4M | |
| EPS (Basic) | $-0.21 | $-0.16 | $-0.19 | $-0.20 | $-0.18 | $-0.18 | $-0.28 | $-0.11 | $-0.19 | $-0.05 | $-0.12 | $-0.09 | $-0.55 | $-0.12 | $-0.31 | $-0.04 | |
| EPS (Diluted) | $-0.21 | $-0.16 | $-0.19 | $-0.20 | $-0.18 | $-0.18 | $-0.28 | $-0.11 | $-0.19 | $-0.05 | $-0.12 | $-0.09 | $-0.55 | $-0.09 | $-0.31 | $-0.04 | |
| Shares (Basic) | 207,026,562 | -388,914,144 | 199,326,145 | 195,370,583 | 191,463,848 | -339,228,548 | 179,491,349 | 170,164,241 | 164,602,608 | -275,237,802 | 146,962,717 | 141,973,731 | 131,490,221 | -230,018,972 | 120,507,152 | 116,983,265 | |
| Shares (Diluted) | 207,026,562 | -388,914,144 | 199,326,145 | 195,370,583 | 191,463,848 | -339,228,548 | 179,491,349 | 170,164,241 | 164,602,608 | -275,237,802 | 146,962,717 | 141,973,731 | 131,490,221 | -266,226,404 | 120,507,152 | 116,983,265 | |
| EBITDA | $-39M | · | $-38M | $-43M | $-39M | · | $-50M | $-37M | $-50M | · | $-36M | $-41M | $-37M | · | $-26M | $-30M |
Balance Sheet 27
| Metric | Trend | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 | Q2 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $174M | $145M | $161M | $193M | $237M | $274M | $97M | $112M | $138M | · | $161M | $181M | $207M | · | $150M | $164M | |
| Receivables | $60M | $57M | $53M | $59M | $63M | $52M | $56M | $58M | $52M | · | $43M | $35M | $25M | · | $22M | $16M | |
| Inventory | $57M | $49M | $46M | $47M | $48M | $50M | $52M | $42M | $38M | · | $40M | $41M | $39M | · | $12M | $13M | |
| Prepaid Expense | $25M | $24M | $27M | $23M | $24M | $22M | $25M | $24M | $25M | · | $26M | $23M | $19M | · | $10M | $7M | |
| Current Assets | $327M | $286M | $297M | $332M | $382M | $409M | $241M | $248M | $264M | · | $270M | $280M | $290M | · | $194M | $199M | |
| PP&E (Net) | $44M | $43M | $42M | $41M | $35M | $34M | $35M | $34M | $29M | · | $26M | $22M | $21M | · | $13M | $12M | |
| PP&E (Gross) | $76M | $74M | $69M | $66M | $58M | $55M | $55M | $51M | $45M | · | $39M | $34M | $31M | · | $21M | $20M | |
| Accum. Depreciation | $32M | $30M | $27M | $26M | $23M | $21M | $20M | $18M | $16M | · | $13M | $12M | $10M | · | $8M | $8M | |
| Goodwill | $290M | $293M | $291M | $276M | $268M | $266M | $275M | $289M | $290M | $295M | $310M | $282M | $279M | $136M | $142M | $126M | |
| Intangibles | $186M | $196M | $204M | $199M | $203M | $209M | $223M | $205M | $199M | · | $196M | $181M | $189M | · | $61M | $97M | |
| Other Non-current Assets | $9M | $9M | $6M | $6M | $6M | $7M | $7M | $7M | $7M | · | $4M | $4M | $2M | · | $2M | $2M | |
| Total Assets | $870M | $841M | $855M | $868M | $909M | $941M | $797M | $797M | $804M | · | $820M | $781M | $794M | · | $421M | $446M | |
| Accounts Payable | $24M | $22M | $19M | $20M | $18M | $28M | $26M | $27M | $19M | · | $20M | $17M | $17M | · | $8M | $8M | |
| Accrued Liabilities | $26M | $25M | $25M | $20M | $27M | $29M | $21M | $28M | $29M | · | $105M | $63M | $71M | · | $16M | $14M | |
| Short-term Debt | · | · | · | · | · | · | · | · | · | · | · | · | · | · | $2M | $2M | |
| Current Liabilities | $80M | $77M | $79M | $76M | $72M | $85M | $101M | $93M | $152M | · | $149M | $104M | $115M | · | $55M | $51M | |
| Capital Leases | $12M | $13M | $14M | $13M | $14M | $14M | $16M | $11M | $11M | · | $11M | $9M | $10M | · | $8M | $9M | |
| Deferred Tax | $14M | $14M | $16M | $13M | $12M | $12M | $17M | $13M | $13M | · | $16M | $11M | $11M | · | $12M | $23M | |
| Other Non-current Liabilities | $8M | $7M | $7M | $2M | $2M | $4M | $4M | $9M | $9M | · | $23M | $47M | $49M | · | $7M | $5M | |
| Total Liabilities | $521M | $457M | $462M | $453M | $477M | $496M | $309M | $295M | $342M | · | $407M | $396M | $435M | · | $145M | $135M | |
| Long-term Debt | $415M | $353M | $354M | $352M | $379M | $381M | · | · | · | · | · | · | · | · | · | · | |
| Total Debt | $403M | · | $339M | $338M | $367M | · | $158M | $157M | $157M | · | $156M | $156M | $156M | · | $6M | $7M | |
| Paid-in Capital | $1.01B | $999M | $985M | $964M | $957M | $937M | $929M | $896M | $836M | · | $781M | $725M | $692M | · | $545M | $528M | |
| Retained Earnings | $-680M | $-637M | $-606M | $-568M | $-529M | $-494M | $-461M | $-412M | $-393M | · | $-347M | $-330M | $-317M | · | $-231M | $-194M | |
| AOCI | $-9M | $-4M | $-10M | $-6M | $-23M | $-25M | $-9M | $-14M | $-11M | · | $-20M | $-10M | $-13M | · | $-18M | $-8M | |
| Stockholders' Equity | $325M | $358M | $369M | $390M | $406M | $418M | $459M | $471M | $433M | · | $414M | $386M | $362M | · | $295M | $326M | |
| Liabilities + Equity | $870M | $841M | $855M | $868M | $909M | $941M | $797M | $797M | $804M | · | $820M | $781M | $794M | · | $421M | $446M |
Cash Flow 10
| Metric | Trend | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 | Q2 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock-based Comp | $20M | $15M | $18M | $15M | $17M | $12M | $18M | $12M | $26M | $7M | $13M | $12M | $11M | $11M | $10M | $9M | |
| Amort. of Intangibles | $9M | $8M | $8M | $8M | $8M | $8M | $9M | $8M | $8M | $4M | $9M | $9M | $5M | $3M | $51.0K | $4M | |
| Restructuring | $0 | $917.0K | $1M | $7M | · | $10.0K | $4M | $0 | · | $0 | $0 | · | · | · | · | · | |
| Operating Cash Flow | $-22M | $-14M | $-6M | $-8M | $-29M | $-7M | $-23M | $-20M | $-9M | $-16M | $-15M | $-40M | $-33M | $-18M | $-22M | $-21M | |
| CapEx | $3M | $2M | $4M | $6M | $2M | $2M | $7M | $4M | $2M | $4M | $2M | $3M | $3M | $3M | $3M | $1M | |
| Investing Cash Flow | $-3M | $-2M | $-22M | $-6M | $-2M | $-3M | $-8M | $-4M | $-6M | $-4M | $1M | $-3M | $-102M | $-3M | $-3M | $-1M | |
| Financing Cash Flow | $55M | $-3M | $-2M | $-29M | $-5M | $186M | $17M | $-322.0K | $7M | $9M | $-2M | $15M | $21M | $190M | $10M | $-7M | |
| Net Change in Cash | $29M | $-15M | $-32M | $-44M | $-38M | $177M | $-15M | $-26M | $-4M | $-9M | $-20M | $-27M | $-114M | $171M | $-13M | $-29M | |
| Free Cash Flow | $-25M | · | · | · | $-31M | · | · | · | $-12M | · | · | · | $-36M | · | · | · | |
| Levered FCF | · | · | · | · | · | · | · | · | $-14M | · | · | · | $-38M | · | · | · |
Profitability 7
| Metric | Trend | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 | Q2 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | -70.1% | · | -71.4% | -83.3% | -72.0% | · | -92.5% | -70.0% | -94.8% | · | -59.8% | -78.1% | -91.4% | · | -86.2% | -116.4% | |
| Net Margin | -77.9% | · | -71.3% | -75.6% | -63.9% | · | -92.1% | -36.6% | -59.6% | · | -28.3% | -25.2% | -179.8% | · | -125.3% | -16.4% | |
| Pretax Margin | -85.5% | · | -76.5% | -79.5% | -68.6% | · | -101.8% | -40.0% | -67.5% | · | -29.8% | -25.4% | -211.8% | · | -148.5% | -24.0% | |
| EBITDA Margin | -70.1% | · | -71.4% | -83.3% | -72.0% | · | -92.5% | -70.0% | -94.8% | · | -59.8% | -78.1% | -91.4% | · | -86.2% | -116.4% | |
| ROA | -4.9% | · | -4.6% | -4.7% | -4.0% | · | -6.2% | -2.4% | -3.9% | · | -2.8% | -2.1% | -11.4% | · | -9.6% | -1.0% | |
| ROE | -11.8% | · | -9.2% | -9.1% | -8.2% | · | -11.4% | -4.5% | -7.8% | · | -4.8% | -3.7% | -20.9% | · | -19.2% | -1.7% | |
| ROIC | -5.3% | · | -5.4% | -6.0% | -5.1% | · | -8.1% | -5.9% | -8.2% | · | -6.6% | -7.7% | -6.8% | · | -8.8% | -7.8% |
Liquidity & Solvency 5
| Metric | Trend | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 | Q2 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 4.1 | · | 3.8 | 4.3 | 5.3 | · | 2.4 | 2.7 | 1.7 | · | 1.8 | 2.7 | 2.5 | · | 3.5 | 3.9 | |
| Quick Ratio | 2.9 | · | 2.7 | 3.3 | 4.2 | · | 1.5 | 1.8 | 1.3 | · | 1.4 | 2.1 | 2.0 | · | 3.1 | 3.6 | |
| Debt / Equity | 1.2 | · | 0.9 | 0.9 | 0.9 | · | 0.3 | 0.3 | 0.4 | · | 0.4 | 0.4 | 0.4 | · | 0.0 | 0.0 | |
| LT Debt / Equity | 1.2 | · | 0.9 | 0.9 | 0.9 | · | 0.3 | 0.3 | 0.4 | · | 0.4 | 0.4 | 0.4 | · | 0.0 | 0.0 | |
| Interest Coverage | · | · | · | · | · | · | · | · | -23.6 | · | -16.1 | -19.0 | -17.2 | · | -155.8 | -112.3 |
Efficiency 3
| Metric | Trend | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 | Q2 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | 0.1 | |
| Inventory Turnover | 0.7 | · | 0.7 | 0.7 | 0.7 | · | 0.7 | 0.7 | 0.8 | · | 1.4 | 1.2 | 1.0 | · | 1.7 | 1.9 | |
| Receivables Turnover | 0.9 | · | 1.0 | 0.9 | 0.9 | · | 1.1 | 1.1 | 1.4 | · | 1.8 | 2.1 | 2.0 | · | 1.9 | 2.2 |
Valuation (TTM) 4
| Metric | Trend | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 | Q2 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $215M | · | $213M | $212M | $213M | · | $219M | $217M | $205M | · | $183M | $148M | $118M | · | $90M | $69M | |
| Net Income TTM | $-155M | · | $-162M | $-142M | $-135M | · | $-117M | $-81M | $-134M | · | $-141M | $-128M | $-104M | · | $-111M | $-67M | |
| P/E | -4.1 | · | -4.8 | -4.6 | -2.7 | · | -5.7 | -12.1 | -7.5 | · | -5.9 | -9.5 | -12.7 | · | -6.6 | -7.7 | |
| Earnings Yield | -24.2% | · | -20.9% | -21.6% | -37.4% | · | -17.5% | -8.3% | -13.4% | · | -17.0% | -10.5% | -7.9% | · | -15.2% | -13.0% |
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
Income Statement
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Revenue | $217M | $217M | $223M | $111M | $48M |
| Operating Margin % | -70.9% | -78.5% | — | -107.5% | -154.5% |
| Net Income | $-143M | $-133M | $-118M | $-43M | $-88M |
| Diluted EPS | $-0.73 | $-0.76 | $-0.81 | $-0.37 | $-1.26 |
Balance Sheet
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Debt / Equity | 0.9 | 0.9 | — | 0.5 | 0.0 |
| Current Ratio | 3.7 | 4.8 | — | 5.8 | 7.4 |
| Quick Ratio | 2.7 | 3.8 | — | 5.4 | 6.9 |
Cash Flow
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Free Cash Flow | $-71M | $-73M | — | $-84M | $-59M |
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