10-Year Performance
Revenue, net income, margins and EPS trends
06
Revenue$84M2019-11-30 → 2025-11-30
EPS$-3.052021-11-30 → 2025-11-30
Free Cash Flow$-263M2020-11-30 → 2025-11-30
Net margin-928.4%2020-11-30 → 2025-11-30
Valuation & Ratios07–12
Valuation
P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Metric
5Y trend
NRIX
5Y avg
Peer Median
Verdict
P/E (TTM)
-6.65Y avg ≈-5.9
≈-5.9
·
·
P/S (TTM)
64.85Y avg ≈22.9
≈22.9
50.1
Fair value
P/B (MRQ)
5.95Y avg ≈2.7
≈2.7
4.5
Fair value
Price / FCF
-8.95Y avg ≈-7.4
≈-7.4
·
·
Price / Cash Flow
-9.45Y avg ≈-7.9
≈-7.9
·
·
Price / Tangible Book
4.35Y avg ≈2.7
≈2.7
·
·
Peer median is calculated on a standardized basis per metric and may not always match the TTM/MRQ basis shown for this stock.
Profitability
Gross, operating and net margins; ROE, ROA, ROIC
Metric
5Y trend
NRIX
5Y avg
Peer Median
Verdict
Operating Margin (TTM)
-982.4%5Y avg ≈-360.9%
≈-360.9%
-7718.9%
Top tier
EBITDA Margin
-340.2%5Y avg ≈-360.9%
≈-360.9%
-7701.1%
Top tier
Pretax Margin
-314.0%5Y avg ≈-343.2%
≈-343.2%
-525.2%
Weak
Net Profit Margin (TTM)
-928.4%5Y avg ≈-343.5%
≈-343.5%
-7584.4%
Top tier
ROA (TTM)
-60.6%5Y avg ≈-36.2%
≈-36.2%
-37.6%
Weak
ROE (TTM)
-80.3%5Y avg ≈-50.2%
≈-50.2%
-43.8%
Weak
ROIC
-53.2%5Y avg ≈-47.2%
≈-47.2%
-39.9%
Weak
Financial Health
Debt, liquidity, solvency — balance sheet strength
Metric
5Y trend
NRIX
5Y avg
Peer Median
Verdict
Current Ratio (MRQ)
6.35Y avg ≈5.2
≈5.2
14.6
Low liquidity
Quick Ratio
2.95Y avg ≈2.7
≈2.7
10.3
Low liquidity
Growth
Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Metric
5Y trend
NRIX
5Y avg
Peer Median
Verdict
Revenue YoY
53.9%5Y avg ≈44.2%
≈44.2%
·
·
Revenue CAGR 3Y
29.5%5Y avg ≈38.3%
≈38.3%
·
·
Revenue CAGR 5Y
36.4%
·
·
·
Per Share Metrics
EPS, book value per share, cash flow per share, dividend per share
Metric
5Y trend
NRIX
5Y avg
Peer Median
Verdict
EPS (Diluted)
$-3.055Y avg ≈$-3.00
≈$-3.00
·
·
Revenue / Share
$0.975Y avg ≈$1.00
≈$1.00
·
·
Cash Flow / Share
$-2.885Y avg ≈$-2.56
≈$-2.56
·
·
Cash / Share
$2.435Y avg ≈$1.63
≈$1.63
·
·
Capital Efficiency
Asset turnover, inventory turnover, receivables turnover
Metric
5Y trend
NRIX
5Y avg
Peer Median
Verdict
Asset Turnover
0.15Y avg ≈0.1
≈0.1
0.1
Top tier
Revenue / Employee
≈$264.9K
·
·
·
value · ≈ 5Y avg · industry median · verdict relative to median
Earnings History
EPS actual vs estimate, surprise %, beat rate, next earnings date
14
Avg Surprise3.0%
Next ReportOct 07, 2026
Period
Report
EPS Actual
EPS Est
Surprise
June 30, 2026
Jul 7, 2026
$-0.81
$-0.73
-10.8%
March 31, 2026
$-0.79
$-0.77
-2.7%
Dec. 31, 2025
$-0.82
$-0.89
7.7%
Sept. 30, 2025
$-1.03
$-0.86
-20.0%
June 30, 2025
$-0.52
$-0.74
30.1%
March 31, 2025
$-0.67
$-0.78
14.0%
Full Fundamentals
All metrics by year — income statement, balance sheet, cash flow
15
Income Statement13
Metric
Trend
2025
2024
2023
2022
2021
2020
2019
Revenue
$84M
$55M
$77M
$39M
$30M
$18M
$31M
R&D Expense
$317M
$222M
$189M
$184M
$116M
$66M
$45M
SG&A Expense
$53M
$46M
$43M
$38M
$31M
$16M
$8M
Operating Expenses
$370M
$268M
$232M
$222M
$148M
$83M
$53M
Operating Income
$-286M
$-213M
$-155M
$-184M
$-118M
$-65M
$-22M
Pretax Income
$-264M
$-193M
$-144M
$-180M
$-117M
$-64M
$-21M
Income Tax
$760.0K
$270.0K
$0
$0
$131.0K
$-21M
$239.0K
Net Income
$-264M
$-194M
$-144M
$-180M
$-117M
$-43M
$-22M
EPS (Basic)
$-3.05
$-2.88
$-2.65
$-3.71
$-2.73
·
·
EPS (Diluted)
$-3.05
$-2.88
$-2.65
$-3.71
$-2.73
·
·
Shares (Basic)
86,666,907
67,120,266
54,337,901
48,607,990
42,895,383
·
·
Shares (Diluted)
86,666,907
67,120,266
54,337,901
48,607,990
42,895,383
·
·
EBITDA
$-286M
$-213M
$-155M
$-184M
$-118M
$-65M
·
Balance Sheet21
Metric
Trend
2025
2024
2023
2022
2021
2020
2019
Cash & Equivalents
$247M
$110M
$55M
$64M
$81M
$119M
$35M
Short-term Investments
·
·
·
$245M
$215M
$162M
$3M
Receivables
·
$0
·
$0
$6M
·
·
Prepaid Expense
$14M
$10M
$8M
$9M
$9M
$6M
$2M
Current Assets
$607M
$619M
$296M
$318M
$311M
$298M
$39M
PP&E (Net)
$22M
$18M
$17M
$17M
$11M
$7M
$4M
PP&E (Gross)
$60M
$52M
$43M
$37M
$26M
$20M
$15M
Accum. Depreciation
$38M
$35M
$26M
$20M
$15M
$13M
$11M
Other Non-current Assets
$7M
$3M
$4M
$4M
$3M
$177.0K
$147.0K
Total Assets
$688M
$669M
$356M
$417M
$477M
$396M
$44M
Accounts Payable
$11M
$11M
$6M
$5M
$7M
$3M
$2M
Current Liabilities
$86M
$96M
$87M
$71M
$66M
$45M
$16M
Capital Leases
$53M
$20M
$23M
$6M
$9M
·
·
Other Non-current Liabilities
·
·
·
·
·
$850.0K
$2M
Total Liabilities
$149M
$142M
$155M
$113M
$134M
$106M
$54M
Common Stock
$102.0K
$76.0K
$49.0K
$47.0K
$45.0K
$39.0K
$4.0K
Retained Earnings
$-1.00B
$-739M
$-545M
$-401M
$-221M
$-104M
$-60M
AOCI
$105.0K
$150.0K
$-655.0K
$-4M
$-608.0K
$87.0K
$-2.0K
Stockholders' Equity
$539M
$527M
$200M
$304M
$342M
$290M
$-58M
Liabilities + Equity
$688M
$669M
$356M
$417M
$477M
$396M
$44M
Shares Outstanding
101,807,484
75,870,718
48,718,552
47,172,299
44,664,371
38,864,872
3,595,334
Cash Flow11
Metric
Trend
2025
2024
2023
2022
2021
2020
2019
D&A
$9M
$9M
$8M
$5M
$3M
$2M
$2M
Stock-based Comp
$38M
$34M
$34M
$28M
$16M
$4M
$510.0K
Operating Cash Flow
$-249M
$-173M
$-81M
$-160M
$-84M
$-80.0K
$601.0K
CapEx
$14M
$9M
$8M
$12M
$6M
$5M
$2M
Investing Cash Flow
$148M
$-258M
$68M
$27M
$-108M
$-254M
$8M
Stock Issued
$0
$290M
$0
$19M
$150M
$218M
·
Net Stock Activity
$0
$290M
$0
$19M
$150M
$218M
·
Financing Cash Flow
$239M
$486M
$3M
$117M
$154M
$339M
$126.0K
Net Change in Cash
$137M
$55M
$-10M
$-15M
$-39M
$85M
$9M
Taxes Paid
·
·
·
·
·
$1.0K
$1.0K
Free Cash Flow
$-263M
$-182M
$-90M
$-172M
$-90M
$-5M
·
Profitability7
Metric
Trend
2025
2024
2023
2022
2021
2020
2019
Operating Margin
-340.2%
-390.5%
-201.4%
-476.0%
-396.3%
-364.7%
·
Net Margin
-314.9%
-354.9%
-187.0%
-466.9%
-393.9%
-242.7%
·
Pretax Margin
-314.0%
-354.4%
-187.0%
-466.9%
-393.5%
-357.9%
·
EBITDA Margin
-340.2%
-390.5%
-201.4%
-476.0%
-396.3%
-364.7%
·
ROA
-39.0%
-37.8%
-37.3%
-40.4%
-26.9%
-19.6%
·
ROE
-53.6%
-42.8%
-66.3%
-55.8%
-32.7%
-14.5%
·
ROIC
-53.2%
-40.5%
·
-60.5%
-34.5%
-15.2%
·
Liquidity & Solvency2
Metric
Trend
2025
2024
2023
2022
2021
2020
2019
Current Ratio
7.0
6.5
3.4
4.5
4.7
6.7
·
Quick Ratio
2.9
1.1
0.6
4.4
4.6
6.3
·
Efficiency2
Metric
Trend
2025
2024
2023
2022
2021
2020
2019
Asset Turnover
0.1
0.1
0.2
0.1
0.1
0.1
·
Receivables Turnover
·
·
·
12.9
9.9
·
·
Per Share6
Metric
Trend
2025
2024
2023
2022
2021
2020
2019
Book Value / Share
$5.29
$6.95
$4.12
$6.44
$7.66
$7.47
·
Revenue / Share
$0.97
$0.81
$1.42
$0.79
·
·
·
Cash Flow / Share
$-2.88
$-2.57
$-1.50
$-3.29
·
·
·
Cash / Share
$2.43
$1.45
$1.12
$1.37
$1.80
$3.07
·
Dividend / Share
$0.00
$0.00
·
·
·
$0.00
$0.00
EPS (TTM)
$-3.05
$-2.88
$-2.65
$-3.71
$-2.73
·
·
Growth Rates3
Metric
Trend
2025
2024
2023
2022
2021
2020
2019
Revenue YoY
53.9%
-29.1%
99.3%
29.8%
67.0%
·
·
Revenue CAGR 3Y
29.5%
22.4%
62.9%
·
·
·
·
Revenue CAGR 5Y
36.4%
·
·
·
·
·
·
Valuation (TTM)10
Metric
Trend
2025
2024
2023
2022
2021
2020
2019
Revenue TTM
$84M
$55M
$77M
$39M
$30M
$18M
·
Net Income TTM
$-264M
$-194M
$-144M
$-180M
$-117M
$-43M
·
Market Cap
$1.80B
$1.68B
$303M
$584M
$1.29B
$1.66B
·
P/E
-5.8
-7.7
-2.3
-3.3
-10.6
·
·
P/S
21.4
30.8
3.9
15.1
43.3
93.0
·
P/B
3.3
3.2
1.5
1.9
3.8
5.7
·
P / Tangible Book
3.3
3.2
1.5
1.9
3.8
5.7
·
P / Cash Flow
-7.2
-9.7
-3.7
-3.7
-15.3
-20705.3
·
P / FCF
-6.8
-9.2
-3.4
-3.4
-14.3
-357.5
·
Earnings Yield
-17.2%
-13.0%
-42.6%
-29.9%
-9.5%
·
·
Income Statement13
Metric
Trend
Q2 2026
Q4 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
Revenue
$9M
$6M
$14M
$8M
$44M
$18M
$13M
$13M
$12M
$17M
$15M
$18M
$31M
$13M
$7M
$11M
R&D Expense
$88M
$84M
$83M
$86M
$78M
$70M
$67M
$55M
$49M
$50M
$50M
$48M
$46M
$46M
$46M
$48M
SG&A Expense
$16M
$15M
$14M
$13M
$14M
$12M
$11M
$12M
$12M
$12M
$11M
$11M
$12M
$10M
$9M
$10M
Operating Expenses
$103M
$99M
$97M
$99M
$92M
$81M
$78M
$67M
$61M
$62M
$60M
$58M
$57M
$56M
$55M
$58M
Operating Income
$-94M
$-92M
$-83M
$-91M
$-48M
$-63M
$-65M
$-55M
$-49M
$-45M
$-45M
$-40M
$-27M
$-43M
$-49M
$-47M
Pretax Income
$-90M
·
$-78M
$-86M
$-43M
$-56M
$-59M
$-49M
$-44M
$-41M
$-42M
$-37M
$-24M
$-41M
$-47M
$-46M
Income Tax
$-271.0K
$0
$0
$0
$760.0K
$0
$8.0K
$82.0K
$90.0K
$90.0K
$0
$0
$0
$0
$0
$0
Net Income
$-90M
$-87M
$-78M
$-86M
$-43M
$-56M
$-59M
$-49M
$-45M
$-42M
$-42M
$-37M
$-24M
$-41M
$-47M
$-46M
EPS (Basic)
$-0.81
$-0.79
$-0.83
$-1.03
$-0.52
$-0.67
$-0.74
$-0.67
$-0.71
$-0.76
$-0.77
$-0.68
$-0.45
$-0.75
$-0.85
$-0.90
EPS (Diluted)
$-0.81
$-0.79
$-0.83
$-1.03
$-0.52
$-0.67
$-0.74
$-0.67
$-0.71
$-0.76
$-0.77
$-0.68
$-0.45
$-0.75
$-0.85
$-0.90
Shares (Basic)
111,084,423
110,071,668
·
84,159,336
83,882,477
83,560,795
·
72,779,381
62,377,551
54,903,407
·
54,390,859
54,259,045
54,028,238
·
50,868,542
Shares (Diluted)
111,084,423
110,071,668
·
84,159,336
83,882,477
83,560,795
·
72,779,381
62,377,551
54,903,407
·
54,390,859
54,259,045
54,028,238
·
50,868,542
EBITDA
$-94M
$-92M
·
$-91M
$-48M
$-63M
·
$-55M
$-49M
$-45M
·
$-40M
$-27M
$-43M
·
$-47M
Balance Sheet20
Metric
Trend
Q2 2026
Q4 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
Cash & Equivalents
$68M
$71M
$247M
$78M
$84M
$76M
$110M
$99M
$117M
$50M
$55M
$42M
$59M
$34M
$64M
$48M
Short-term Investments
·
·
·
·
·
·
·
·
·
·
·
$217M
$222M
$244M
·
$297M
Receivables
·
·
·
·
$19M
·
·
·
·
·
·
$2M
·
·
·
·
Prepaid Expense
$13M
$14M
$14M
$12M
$11M
$14M
$10M
$8M
$7M
$7M
·
$7M
$9M
$11M
·
$10M
Current Assets
$456M
$554M
$607M
$441M
$515M
$564M
$619M
$456M
$450M
$251M
·
$268M
$290M
$288M
·
$355M
PP&E (Net)
$20M
$22M
$22M
$20M
$19M
$18M
$18M
$17M
$19M
$18M
·
$17M
$18M
$18M
·
$17M
PP&E (Gross)
$61M
$61M
$60M
$61M
$57M
$55M
$52M
$49M
$48M
$46M
·
$42M
$42M
$39M
·
$35M
Accum. Depreciation
$41M
$40M
$38M
$41M
$39M
$37M
$35M
$32M
$30M
$28M
·
$25M
$23M
$21M
·
$18M
Other Non-current Assets
$8M
$7M
$7M
$7M
$6M
$6M
$3M
$3M
$3M
$3M
·
$4M
$4M
$4M
·
$4M
Total Assets
$536M
$636M
$688M
$522M
$592M
$615M
$669M
$514M
$511M
$313M
·
$308M
$351M
$370M
·
$459M
Accounts Payable
$12M
$10M
$11M
$9M
$6M
$8M
$11M
$4M
$3M
$6M
·
$2M
$5M
$6M
·
$6M
Current Liabilities
$72M
$92M
$86M
$82M
$76M
$90M
$96M
$86M
$81M
$88M
·
$61M
$72M
$65M
·
$68M
Capital Leases
$55M
$55M
$53M
$53M
$47M
$20M
$20M
$21M
$21M
$22M
·
$3M
$4M
$5M
·
$8M
Total Liabilities
$133M
$155M
$149M
$150M
$144M
$134M
$142M
$137M
$140M
$144M
·
$74M
$91M
$96M
·
$117M
Common Stock
$104.0K
$103.0K
$102.0K
$77.0K
$76.0K
$76.0K
$76.0K
$67.0K
$64.0K
$49.0K
·
$49.0K
$48.0K
$47.0K
·
$47.0K
Retained Earnings
$-1.18B
$-1.09B
$-1.00B
$-925M
$-839M
$-795M
$-739M
$-680M
$-631M
$-587M
·
$-503M
$-466M
$-442M
·
$-355M
AOCI
$-145.0K
$56.0K
$105.0K
$119.0K
$-20.0K
$226.0K
$150.0K
$344.0K
$-135.0K
$-350.0K
·
$-1M
$-2M
$-3M
·
$-4M
Stockholders' Equity
$403M
$481M
$539M
$372M
$448M
$481M
$527M
$377M
$371M
$169M
$200M
$234M
$260M
$274M
$304M
$343M
Liabilities + Equity
$536M
$636M
$688M
$522M
$592M
$615M
$669M
$514M
$511M
$313M
·
$308M
$351M
$370M
·
$459M
Shares Outstanding
103,701,511
103,399,813
101,807,484
76,872,686
76,433,664
76,234,799
75,870,718
67,083,523
64,356,535
49,136,954
·
48,503,768
47,631,208
47,444,853
·
47,147,781
Cash Flow10
Metric
Trend
Q2 2026
Q4 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
D&A
·
$2M
$2M
$2M
$2M
$2M
$3M
$2M
$2M
$2M
$2M
$2M
$2M
$2M
$2M
$2M
Stock-based Comp
·
$9M
$9M
$10M
$10M
$9M
$9M
$9M
$9M
$8M
$8M
$8M
$9M
$8M
$8M
$7M
Operating Cash Flow
·
$-72M
$-68M
$-57M
$-63M
$-61M
$-49M
$-42M
$-40M
$-42M
$27M
$-41M
$-18M
$-48M
$-38M
$-46M
CapEx
·
$1M
$5M
$3M
$3M
$3M
$2M
$2M
$2M
$3M
$3M
$2M
$1M
$2M
$3M
$3M
Investing Cash Flow
·
$-124M
$346.0K
$50M
$71M
$26M
$-141M
$-21M
$-131M
$36M
$-14M
$23M
$44M
$16M
$55M
$-63M
Stock Issued
·
$18M
$0
$0
·
$0
$199M
$42M
·
·
$0
$0
·
·
$0
·
Net Stock Activity
·
$18M
·
·
·
·
·
·
·
·
·
·
·
·
·
·
Financing Cash Flow
·
$20M
$236M
$1M
$6.0K
$1M
$201M
$46M
$238M
$2M
$7.0K
$2M
$25.0K
$1M
$-135.0K
$115M
Net Change in Cash
·
$-176M
$169M
$-6M
$8M
$-34M
$11M
$-18M
$67M
$-5M
$12M
$-17M
$25M
$-31M
$17M
$6M
Free Cash Flow
·
$-73M
·
·
·
$-65M
·
·
·
$-45M
·
·
·
$-51M
·
·
Profitability7
Metric
Trend
Q2 2026
Q4 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
Operating Margin
-1041.7%
-1479.4%
·
-1157.6%
-109.7%
-340.7%
·
-433.8%
-401.4%
-272.7%
·
-216.7%
-87.2%
-338.6%
·
-432.9%
Net Margin
-990.1%
-1394.3%
·
-1094.8%
-98.7%
-305.4%
·
-388.9%
-368.4%
-250.3%
·
-200.3%
-79.1%
-321.1%
·
-423.6%
Pretax Margin
-993.1%
·
·
-1094.8%
-96.9%
-305.4%
·
-388.3%
-367.6%
-249.8%
·
·
·
·
·
-423.6%
EBITDA Margin
-1041.7%
-1479.4%
·
-1157.6%
-109.7%
-340.7%
·
-433.8%
-401.4%
-272.7%
·
-216.7%
-87.2%
-338.6%
·
-432.9%
ROA
-15.9%
·
·
-16.7%
-7.9%
-12.2%
·
-11.9%
-10.3%
-12.2%
·
-9.6%
-6.5%
-10.1%
·
-9.6%
ROE
-21.1%
·
·
-23.1%
-10.6%
-17.3%
·
-16.0%
-14.1%
-18.8%
·
-12.8%
-9.2%
-14.1%
·
-12.7%
ROIC
-23.3%
·
·
-24.6%
-11.0%
-13.1%
·
-14.5%
-13.1%
-26.9%
·
·
·
·
·
-13.6%
Liquidity & Solvency2
Metric
Trend
Q2 2026
Q4 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
Current Ratio
6.3
·
·
5.4
6.8
6.3
·
5.3
5.6
2.9
·
4.4
4.0
4.4
·
5.3
Quick Ratio
0.9
·
·
1.0
1.4
0.8
·
1.1
1.4
0.6
·
4.2
3.9
4.3
·
5.1
Efficiency2
Metric
Trend
Q2 2026
Q4 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
Asset Turnover
0.0
·
·
0.0
0.1
0.0
·
0.0
0.0
0.0
·
0.0
0.1
0.0
·
0.0
Receivables Turnover
·
·
·
·
4.1
·
·
·
·
·
·
18.5
·
·
·
·
Per Share6
Metric
Trend
Q2 2026
Q4 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
Book Value / Share
$3.88
·
·
$4.84
$5.86
$6.31
·
$5.62
$5.76
$3.43
·
$4.82
$5.46
$5.78
·
$7.27
Revenue / Share
$0.08
$0.06
·
$0.09
$0.53
$0.22
·
$0.17
$0.19
$0.30
·
$0.34
$0.57
$0.23
·
$0.21
Cash Flow / Share
·
$-0.65
·
·
·
$-0.73
·
·
·
$-0.76
·
·
·
$-0.90
·
·
Cash / Share
$0.65
·
·
$1.02
$1.10
$1.00
·
$1.48
$1.81
$1.01
·
$0.87
$1.24
$0.71
·
$1.01
Dividend / Share
·
$0.00
$0.00
$0.00
$0.00
$0.00
·
$0.00
$0.00
$0.00
·
$0.00
$0.00
$0.00
·
$0.00
EPS (TTM)
$-3.46
$-3.17
·
·
·
·
·
$-2.91
$-2.92
$-2.66
·
$-2.73
$-2.95
$-3.51
·
$-3.71
Valuation (TTM)9
Metric
Trend
Q2 2026
Q4 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
Revenue TTM
$37M
$77M
·
·
·
·
·
$56M
$62M
$81M
·
$69M
$61M
$42M
·
$39M
Net Income TTM
·
$-273M
·
·
·
·
·
$-177M
$-165M
$-145M
·
$-149M
$-157M
$-179M
·
$-171M
Market Cap
$1.84B
·
·
$718M
$812M
$1.18B
·
$1.69B
$1.01B
$607M
·
$412M
$482M
$447M
·
$742M
P/E
-5.1
-5.3
·
·
·
·
·
-8.7
-5.4
-4.6
·
-3.1
-3.4
-2.7
·
-4.2
P/S
50.1
·
·
·
·
·
·
30.0
16.3
7.5
·
6.0
7.9
10.7
·
18.9
P/B
4.6
·
·
1.9
1.8
2.4
·
4.5
2.7
3.6
·
1.8
1.9
1.6
·
2.2
P / Tangible Book
4.6
·
·
1.9
1.8
2.4
·
4.5
2.7
3.6
·
1.8
1.9
1.6
·
2.2
P / Cash Flow
·
·
·
·
·
-19.3
·
·
·
-14.5
·
·
·
-9.2
·
·
Earnings Yield
-19.5%
-18.9%
·
·
·
·
·
-11.6%
-18.5%
-21.5%
·
-32.1%
-29.1%
-37.2%
·
-23.6%
Most recent period on the left · null values shown as ·
Financial Statements
Income statement, balance sheet, cash flow — annual, last 5 years
16
Metric
2025-11-30
2024-11-30
2023-11-30
2022-11-30
2021-11-30
Revenue
$84M
$55M
$77M
$39M
$30M
Operating Margin %
-340.2%
-390.5%
-201.4%
-476.0%
-396.3%
Net Income
$-264M
$-194M
$-144M
$-180M
$-117M
Diluted EPS
$-3.05
$-2.88
$-2.65
$-3.71
$-2.73
Metric
2025-11-30
2024-11-30
2023-11-30
2022-11-30
2021-11-30
Current Ratio
7.0
6.5
3.4
4.5
4.7
Quick Ratio
2.9
1.1
0.6
4.4
4.6
Metric
2025-11-30
2024-11-30
2023-11-30
2022-11-30
2021-11-30
Free Cash Flow
$-263M
$-182M
$-90M
$-172M
$-90M
Institutional owners (13F)
223 filers
· $2.8B total
· As of Sept. 30, 2026
17
Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.
Holders223
Value held$2.8B
New positions47
Exited positions26
Institutional activity — Q2 2026 vs prior quarter
New positions
Exited positions
Increased
Decreased
Net shares change
47 (+3 vs prior Q)
26 (0 vs prior Q)
67 (-2 vs prior Q)
63 (+20 vs prior Q)
-283K
Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.