VSTM Stock Price Chart
Daily OHLCV with technical indicators — pan, zoom, and customize your view
04
range
bars
Bar granularity adapts to the selected period — hover the chart to see open/high/low/close for a bar.
Stock splits1
Ex-date
Split
Type
June 1, 2023
1-for-12
Reverse
10-Year Performance
Revenue, net income, margins and EPS trends
06
Revenue$31M2018-12-31 → 2025-12-31
EPS$-3.022016-12-31 → 2025-12-31
Free Cash Flow·2016-12-31 → 2024-12-31
Net margin-231.6%2018-12-31 → 2025-12-31
Valuation & Ratios07–12
Valuation
P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Metric
5Y trend
VSTM
5Y avg
Peer Median
Verdict
P/E (TTM)
-3.45Y avg ≈-2.4
≈-2.4
·
·
P/S (TTM)
8.05Y avg ≈536.7
≈536.7
·
·
P/B (MRQ)
13.95Y avg ≈15.7
≈15.7
3.5
Overvalued
Price / Cash Flow
-4.45Y avg ≈-21.9
≈-21.9
·
·
Price / Tangible Book (MRQ)
20.45Y avg ≈22.7
≈22.7
·
·
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
VSTM
5Y avg
Peer Median
Verdict
Operating Margin (TTM)
-182.6%5Y avg ≈-1875.2%
≈-1875.2%
·
·
EBITDA Margin
-550.3%5Y avg ≈-1875.2%
≈-1875.2%
·
·
Pretax Margin
-677.6%5Y avg ≈-2073.4%
≈-2073.4%
·
·
Net Profit Margin (TTM)
-231.6%5Y avg ≈-2073.8%
≈-2073.8%
·
·
ROA (TTM)
-100.7%5Y avg ≈-84.5%
≈-84.5%
-53.6%
Weak
ROE (TTM)
-471.2%5Y avg ≈136.0%
≈136.0%
-70.0%
Weak
Financial Health
Debt, liquidity, solvency — balance sheet strength
Metric
5Y trend
VSTM
5Y avg
Peer Median
Verdict
Debt / Equity (MRQ)
0.0
·
·
·
Current Ratio (MRQ)
2.35Y avg ≈4.3
≈4.3
11.3
Low liquidity
Quick Ratio
2.85Y avg ≈2.7
≈2.7
4.3
Low liquidity
Interest Coverage
-149.55Y avg ≈-47.4
≈-47.4
·
·
Growth
Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Metric
5Y trend
VSTM
5Y avg
Peer Median
Verdict
Revenue YoY
209.1%5Y avg ≈46.0%
≈46.0%
·
·
Revenue CAGR 3Y
128.4%
·
·
·
Revenue CAGR 5Y
-19.0%
·
·
·
Per Share Metrics
EPS, book value per share, cash flow per share, dividend per share
Metric
5Y trend
VSTM
5Y avg
Peer Median
Verdict
EPS (Diluted)
$-3.025Y avg ≈$-4.02
≈$-4.02
·
·
Revenue / Share
$0.455Y avg ≈$3.54
≈$3.54
·
·
Cash Flow / Share
$-1.985Y avg ≈$-67.59
≈$-67.59
·
·
Cash / Share
$2.645Y avg ≈$1.64
≈$1.64
·
·
Capital Efficiency
Asset turnover, inventory turnover, receivables turnover
Metric
5Y trend
VSTM
5Y avg
Peer Median
Verdict
Asset Turnover
0.25Y avg ≈0.1
≈0.1
·
·
Revenue / Employee
≈$303.1K
·
·
·
value · ≈ 5Y avg · industry median · verdict relative to median
Earnings History
EPS actual vs estimate, surprise %, beat rate, next earnings date
14
Avg Surprise-2.8%
Next ReportNov 02, 2026
Period
Report
EPS Actual
EPS Est
Surprise
June 30, 2026
Aug 5, 2026
$-0.35
$-0.44
20.7%
March 31, 2026
May 11, 2026
$-0.37
$-0.47
21.3%
Dec. 31, 2025
$-0.50
$-0.55
9.8%
Sept. 30, 2025
$-1.35
$-0.65
-108.2%
June 30, 2025
$-0.39
$-0.76
48.4%
March 31, 2025
$-0.79
$-0.73
-8.9%
Full Fundamentals
All metrics by year — income statement, balance sheet, cash flow
15
Income Statement17
Metric
Trend
2025
2024
2023
2022
2021
2020
2019
2018
Revenue
$31M
$10M
·
$3M
$2M
$89M
$17M
$27M
Cost of Revenue
·
·
·
·
·
·
·
$165.0K
R&D Expense
$115M
$81M
$61M
$51M
$39M
$41M
$46M
$44M
SG&A Expense
$81M
$44M
$31M
$25M
$24M
$63M
$101M
$77M
Operating Expenses
$201M
$125M
$92M
$76M
$63M
$138M
$150M
$122M
Operating Income
$-170M
$-115M
$-92M
$-73M
$-61M
$-49M
$-132M
$-95M
Interest Expense
$1M
$5M
$4M
$2M
$10M
$16M
$21M
$6M
Interest Income
$4M
$4M
$6M
$1M
$181.0K
$515.0K
$4M
$3M
Other Non-op
$-203.0K
$-123.0K
$-109.0K
$47.0K
·
$-1M
$-641.0K
$26M
Pretax Income
$-209M
$-130M
$-87M
$-74M
$-71M
$-68M
$-149M
$-72M
Income Tax
·
$185.0K
·
$0
$0
$194.0K
$0
$0
Net Income
$-209M
$-131M
$-87M
$-74M
$-71M
$-68M
$-149M
$-72M
EPS (Basic)
$-3.02
$-3.66
$-3.96
$-4.57
$-4.90
$-0.44
$-2.00
$-1.12
EPS (Diluted)
$-3.02
$-3.66
$-3.96
$-4.57
$-4.90
$-0.44
$-2.00
$-1.37
Shares (Basic)
69,309,000
35,713,000
22,054,000
16,138,000
14,535,000
153,330,000
74,578,000
64,962,000
Shares (Diluted)
69,309,000
35,713,000
22,054,000
16,138,000
14,535,000
153,330
74,578,000
69,321,000
EBITDA
$-170M
$-115M
$-92M
$-73M
$-61M
$-49M
$-132M
$-95M
Balance Sheet23
Metric
Trend
2025
2024
2023
2022
2021
2020
2019
2018
Cash & Equivalents
$205M
$89M
$78M
$75M
$21M
$68M
$44M
$130M
Inventory
$2M
·
·
·
·
·
$3M
$327.0K
Prepaid Expense
$8M
$6M
$7M
$5M
$5M
$3M
$4M
$3M
Current Assets
$223M
$95M
$144M
$93M
$106M
$145M
$85M
$253M
PP&E (Net)
·
$32.0K
$37.0K
$92.0K
$210.0K
$416.0K
$947.0K
$1M
PP&E (Gross)
$2M
$2M
$2M
$2M
$2M
$2M
$2M
$2M
Accum. Depreciation
$2M
$2M
$2M
$2M
$2M
$1M
$938.0K
$509.0K
Intangibles
$16M
·
·
·
·
·
$20M
$22M
Other Non-current Assets
$6M
$5M
$5M
$58.0K
$169.0K
$33.0K
$812.0K
$790.0K
Total Assets
$246M
$102M
$150M
$95M
$109M
$154M
$145M
$277M
Accounts Payable
$12M
$4M
$7M
$5M
$2M
$2M
$10M
$10M
Accrued Liabilities
$54M
$26M
$18M
$15M
$16M
$15M
$19M
$21M
Current Liabilities
$72M
$31M
$26M
$22M
$19M
$17M
$30M
$37M
Capital Leases
·
$535.0K
$530.0K
$1M
$2M
$3M
$3M
·
Other Non-current Liabilities
·
·
·
·
·
·
$870.0K
$1M
Total Liabilities
$189M
$130M
$71M
$48M
$21M
$39M
$138M
$153M
Long-term Debt
·
$41M
$40M
$25M
·
·
$35M
$25M
Common Stock
$8.0K
$4.0K
$3.0K
$2.0K
$19.0K
$17.0K
$8.0K
$7.0K
Retained Earnings
$-1.16B
$-956M
$-825M
$-738M
$-664M
$-593M
$-525M
$-376M
AOCI
$5M
·
$13.0K
·
$34.0K
$53.0K
$14.0K
$127.0K
Stockholders' Equity
$57M
$-29M
$57M
$47M
$88M
$115M
$7M
$124M
Liabilities + Equity
$246M
$102M
$150M
$95M
$109M
$154M
$145M
$277M
Shares Outstanding
77,740,000
44,784,000
25,281,000
16,712,000
185,286,000
170,456,000
80,118,000
73,806,000
Cash Flow15
Metric
Trend
2025
2024
2023
2022
2021
2020
2019
2018
Stock-based Comp
$9M
$7M
$6M
$6M
$8M
$8M
$9M
$7M
Deferred Tax
·
·
·
$0
$0
$0
$0
$0
Amort. of Intangibles
$698.0K
·
·
·
·
$793.0K
$2M
$423.0K
Restructuring
·
·
·
·
$0
$5M
·
·
Operating Cash Flow
$-138M
$-105M
$-86M
$-64M
$-54M
$-34M
$-139M
$-75M
CapEx
·
$28.0K
·
·
$196.0K
$33.0K
$7.0K
$2M
Investing Cash Flow
$-10M
$60M
$-44M
$66M
$87.0K
$-47M
$90M
$-138M
Net Debt Issued
$-43M
·
$-300.0K
·
·
$-37M
·
·
Stock Issued
$197M
$14M
$91M
$27M
$7M
$106M
·
$105M
Net Stock Activity
$197M
$14M
$91M
$27M
$7M
$106M
·
·
Financing Cash Flow
$263M
$55M
$134M
$52M
$7M
$70M
$-2M
$261M
Net Change in Cash
$116M
$10M
$3M
$54M
$-47M
$-11M
$-51M
$48M
Taxes Paid
$185.0K
·
·
·
·
·
·
·
Free Cash Flow
·
$-105M
·
·
$-54M
$-34M
$-139M
$-76M
Levered FCF
·
$-109M
·
·
$-64M
$-49M
·
·
Profitability7
Metric
Trend
2025
2024
2023
2022
2021
2020
2019
2018
Operating Margin
-550.3%
-1149.6%
·
-2809.6%
-2991.2%
-55.8%
-758.1%
-354.8%
Net Margin
-677.6%
-1306.4%
·
-2843.3%
-3468.1%
-76.5%
-854.8%
-271.1%
Pretax Margin
-677.6%
-1304.5%
·
-2843.3%
-3468.1%
-76.3%
·
·
EBITDA Margin
-550.3%
-1149.6%
·
-2809.6%
-2991.2%
-55.8%
-758.1%
-354.8%
ROA
-120.4%
-104.0%
-71.4%
-72.5%
-54.1%
-45.2%
-70.7%
-39.5%
ROE
-449.2%
1465.1%
-124.3%
-133.9%
-77.7%
-55.3%
-1040.1%
-62.5%
ROIC
·
398.4%
·
-153.9%
-70.1%
-42.9%
·
·
Liquidity & Solvency3
Metric
Trend
2025
2024
2023
2022
2021
2020
2019
2018
Current Ratio
3.1
3.1
5.4
4.3
5.7
8.5
2.8
6.8
Quick Ratio
2.8
2.9
3.0
3.5
1.1
4.0
1.5
3.5
Interest Coverage
-149.5
-25.2
-22.2
-34.1
-6.2
-3.1
-6.4
-16.3
Efficiency2
Metric
Trend
2025
2024
2023
2022
2021
2020
2019
2018
Asset Turnover
0.2
0.1
·
0.0
0.0
0.6
0.1
0.1
Inventory Turnover
·
·
·
·
·
·
·
1.0
Per Share5
Metric
Trend
2025
2024
2023
2022
2021
2020
2019
2018
Book Value / Share
$0.74
$-0.65
$2.27
$0.24
$0.47
$0.68
$0.09
$1.68
Revenue / Share
$0.45
$0.28
·
$13.41
$0.01
$0.58
$0.23
$0.39
Cash Flow / Share
$-1.98
$-2.93
$-3.92
$-328.80
$-0.31
$-0.22
$-1.86
$-1.07
Cash / Share
$2.64
$1.98
$3.08
$0.37
$0.11
$0.40
$0.54
$1.76
EPS (TTM)
$-3.02
$-3.66
$-3.96
$-4.57
$-4.90
$-0.44
$-2.00
$-1.37
Growth Rates3
Metric
Trend
2025
2024
2023
2022
2021
2020
2019
2018
Revenue YoY
209.1%
·
·
26.5%
-97.7%
·
·
·
Revenue CAGR 3Y
128.4%
69.5%
·
·
·
·
·
·
Revenue CAGR 5Y
-19.0%
·
·
·
·
·
·
·
Valuation (TTM)10
Metric
Trend
2025
2024
2023
2022
2021
2020
2019
2018
Revenue TTM
$31M
$10M
$4M
$3M
$2M
$89M
$17M
$27M
Net Income TTM
$-209M
$-131M
$-87M
$-74M
$-71M
$-68M
$-149M
$-72M
Market Cap
$600M
$232M
$206M
$963M
$4.56B
$4.36B
$1.29B
$2.98B
P/E
-2.6
-1.4
-2.1
-1.1
-5.0
-58.1
-8.0
-29.4
P/S
19.4
23.2
50.1
370.8
2220.2
49.2
73.8
111.4
P/B
10.5
-8.0
3.6
20.3
52.1
37.8
179.6
23.9
P / Tangible Book
14.7
·
3.6
20.3
52.1
37.8
·
·
P / Cash Flow
-4.4
-2.2
-2.4
-15.1
-85.2
-130.0
-9.3
-39.9
P / FCF
·
-2.2
·
·
-84.9
-129.9
-9.3
-39.1
Earnings Yield
-39.1%
-70.8%
-48.6%
-95.2%
-19.9%
-1.7%
-12.4%
-3.4%
Income Statement16
Metric
Trend
Q2 2026
Q1 2026
Q4 2025
Q3 2025
Q2 2025
Q1 2025
Q4 2024
Q3 2024
Q2 2024
Q1 2024
Q3 2023
Q2 2023
Q1 2023
Q3 2022
Q2 2022
Q1 2022
Revenue
$40M
$19M
$18M
$11M
$2M
·
$0
$0
$10M
·
·
·
·
$0
$0
$3M
R&D Expense
$41M
$38M
$32M
$29M
$25M
$29M
$21M
$25M
$18M
$18M
$14M
$13M
$12M
$11M
$15M
$14M
SG&A Expense
$27M
$22M
$24M
$21M
$21M
$15M
$11M
$12M
$10M
$10M
$7M
$7M
$7M
$6M
$7M
$6M
Operating Expenses
$73M
$64M
$59M
$52M
$46M
$44M
$32M
$37M
$28M
$28M
$21M
$20M
$19M
$18M
$21M
$20M
Operating Income
$-33M
$-45M
$-41M
$-41M
$-44M
$-44M
$-32M
$-37M
$-18M
$-28M
$-21M
$-20M
$-19M
$-18M
$-21M
$-17M
Interest Expense
$360.0K
$382.0K
$415.0K
$319.0K
$212.0K
$192.0K
$1M
$1M
$1M
$1M
$1M
$1M
$769.0K
$717.0K
$640.0K
$56.0K
Interest Income
$1M
$1M
$1M
$1M
$822.0K
$960.0K
$968.0K
$831.0K
$983.0K
$1M
$2M
$1M
$976.0K
$316.0K
$84.0K
$46.0K
Other Non-op
$-52.0K
$-61.0K
$-16.0K
$-37.0K
$-110.0K
$-40.0K
$8.0K
$-77.0K
$-24.0K
$-30.0K
$-13.0K
$-40.0K
$-7.0K
$20.0K
$6.0K
$28.0K
Pretax Income
$-34M
·
·
·
$-26M
·
·
·
·
·
·
·
·
·
·
·
Income Tax
$816.0K
$0
·
$0
$0
$0
$185.0K
$0
$0
$0
$0
$0
$0
$0
$0
$0
Net Income
$-35M
$-37M
$-33M
$-99M
$-26M
$-52M
$-65M
$-24M
$-8M
$-34M
$-20M
$-24M
$-16M
$-18M
$-22M
$-17M
EPS (Basic)
$-0.35
$-0.37
$-0.32
$-1.35
$-0.39
$-0.96
$-1.49
$-0.60
$-0.31
$-1.26
$-0.75
$-1.37
$-0.94
$-1.10
$-1.41
$-0.09
EPS (Diluted)
$-0.35
$-0.46
$-0.09
$-1.35
$-0.62
$-0.96
$-1.49
$-0.60
$-0.31
$-1.26
$-0.75
$-1.37
$-0.08
$-0.09
$-0.12
$-0.09
Shares (Basic)
100,116,000
98,292,000
·
73,157,000
66,143,000
54,173,000
·
40,258,000
26,861,000
26,832,000
26,790,000
17,732,000
16,723,000
16,430,000
15,539,000
186,264,000
Shares (Diluted)
100,116,000
99,148,000
·
73,157,000
74,037,000
54,173,000
·
40,258,000
26,861,000
26,832,000
26,790,000
·
200,679,000
197,151,000
186,463,000
186,264,000
EBITDA
$-33M
$-45M
·
$-41M
$-44M
$-44M
·
$-37M
$-18M
$-28M
$-21M
$-20M
$-19M
$-18M
$-21M
$-17M
Balance Sheet26
Metric
Trend
Q2 2026
Q1 2026
Q4 2025
Q3 2025
Q2 2025
Q1 2025
Q4 2024
Q3 2024
Q2 2024
Q1 2024
Q3 2023
Q2 2023
Q1 2023
Q3 2022
Q2 2022
Q1 2022
Cash & Equivalents
$136M
$166M
$205M
$138M
$164M
$118M
$89M
$113M
$83M
$81M
$95M
$183M
$97M
$78M
$64M
$47M
Short-term Investments
·
$16M
·
·
·
·
·
·
·
·
·
·
·
·
·
·
Inventory
$2M
$2M
$2M
$2M
$1M
·
·
·
·
·
·
·
·
·
·
·
Prepaid Expense
$8M
$9M
$8M
$8M
$7M
$7M
$6M
$7M
$5M
$7M
$9M
$7M
$8M
$5M
$3M
$5M
Current Assets
$176M
$203M
$223M
$154M
$174M
$125M
$95M
$121M
$100M
$118M
$174M
$190M
$119M
$109M
$98M
$113M
PP&E (Net)
·
·
·
$20.0K
$21.0K
$22.0K
$32.0K
$39.0K
$46.0K
$52.0K
$35.0K
$40.0K
$62.0K
$121.0K
$151.0K
$180.0K
PP&E (Gross)
·
·
$2M
·
·
·
$2M
·
·
·
·
·
·
·
·
·
Accum. Depreciation
·
·
$2M
·
·
·
$2M
·
·
·
·
·
·
·
·
·
Intangibles
$16M
$16M
$16M
$17M
$16M
·
·
·
·
·
·
·
·
·
·
·
Other Non-current Assets
$12M
$6M
$6M
$5M
$5M
$6M
$5M
$5M
$5M
$5M
$56.0K
$20.0K
$36.0K
$47.0K
$84.0K
$105.0K
Total Assets
$207M
$228M
$246M
$177M
$196M
$132M
$102M
$126M
$106M
$124M
$176M
$192M
$121M
$111M
$100M
$116M
Accounts Payable
$18M
$10M
$12M
$10M
$8M
$7M
$4M
$4M
$7M
$7M
$5M
$5M
$5M
$5M
$2M
$3M
Accrued Liabilities
$54M
$51M
$54M
$45M
$38M
$25M
$26M
$22M
$17M
$17M
$16M
$14M
$14M
$15M
$18M
$13M
Short-term Debt
$214.0K
$529.0K
·
$188.0K
$467.0K
$740.0K
·
$133.0K
$526.0K
$911.0K
$146.0K
$579.0K
$1M
·
·
·
Current Liabilities
$78M
$67M
$72M
$60M
$50M
$36M
$31M
$37M
$30M
$27M
$24M
$21M
$22M
$22M
$20M
$17M
Capital Leases
$2M
$2M
·
·
·
$271.0K
$535.0K
·
·
$270.0K
$780.0K
$1M
$1M
$2M
$2M
$2M
Other Non-current Liabilities
·
·
·
·
·
·
·
·
·
·
$51.0K
·
·
·
·
·
Total Liabilities
$157M
$146M
$189M
$192M
$160M
$164M
$130M
$94M
$66M
$77M
$72M
$69M
$67M
$48M
$47M
$43M
Long-term Debt
·
·
·
·
·
·
$41M
$41M
$40M
$40M
$40M
$40M
$40M
$24M
$24M
$24M
Total Debt
$214.0K
$529.0K
·
$188.0K
$467.0K
$740.0K
·
$133.0K
·
$911.0K
$146.0K
$579.0K
$1M
·
·
·
Common Stock
$9.0K
$9.0K
$8.0K
$7.0K
$6.0K
$5.0K
$4.0K
$4.0K
$3.0K
$3.0K
$3.0K
$3.0K
$20.0K
$21.0K
$19.0K
$19.0K
Retained Earnings
$-1.24B
$-1.20B
$-1.16B
$-1.13B
$-1.03B
$-1.01B
$-956M
$-891M
$-867M
$-859M
$-798M
$-778M
$-753M
$-721M
$-703M
$-681M
AOCI
$8M
$9M
$5M
$3M
$5M
$7M
·
·
·
$-4.0K
$49.0K
$1.0K
$6.0K
$-39.0K
$-130.0K
$-113.0K
Stockholders' Equity
$50M
$82M
$57M
$-16M
$36M
$-32M
$-29M
$11M
$19M
$25M
$83M
$102M
$33M
$63M
$54M
$73M
Liabilities + Equity
$207M
$228M
$246M
$177M
$196M
$132M
$102M
$126M
$106M
$124M
$176M
$192M
$121M
$111M
$100M
$116M
Shares Outstanding
90,482,000
87,843,000
77,740,000
66,749,000
61,523,000
51,490,000
44,784,000
40,262,000
26,876,000
25,308,000
25,265,000
25,242,000
200,541,000
210,084,000
187,613,000
186,330,000
Cash Flow11
Metric
Trend
Q2 2026
Q1 2026
Q4 2025
Q3 2025
Q2 2025
Q1 2025
Q4 2024
Q3 2024
Q2 2024
Q1 2024
Q3 2023
Q2 2023
Q1 2023
Q3 2022
Q2 2022
Q1 2022
Stock-based Comp
$3M
$2M
$2M
$2M
$3M
$2M
$2M
$2M
$2M
$1M
$2M
$1M
$1M
$1M
$2M
$2M
Amort. of Intangibles
$280.0K
$279.0K
$280.0K
$290.0K
·
·
·
·
·
·
·
·
·
·
·
·
Operating Cash Flow
$-44M
$-52M
$-30M
$-36M
$-33M
$-39M
$-25M
$-24M
$-28M
$-28M
$-17M
$-20M
$-20M
$-15M
$-13M
$-19M
CapEx
·
·
·
·
·
·
$0
$0
$7.0K
$21.0K
·
·
·
·
·
·
Investing Cash Flow
$16M
$-16M
$-1M
·
·
·
$0
$0
$29M
$31M
$-70M
$14M
$-804.0K
$5M
$29M
$19M
Net Debt Issued
·
·
·
·
·
$-43M
·
·
·
·
·
·
·
·
·
·
Stock Issued
·
·
$97M
$0
$70M
$30M
$0
·
·
·
$-486.0K
·
·
$26M
$1M
$580.0K
Net Stock Activity
·
·
·
·
·
$30M
·
·
·
·
·
·
·
·
·
$580.0K
Financing Cash Flow
$-2M
$29M
$99M
$18M
$79M
$67M
$742.0K
$54M
$-405.0K
$846.0K
$-891.0K
$91M
$44M
$26M
$708.0K
$25M
Net Change in Cash
$-29M
$-39M
$67M
$-27M
$47M
$29M
$-24M
$30M
$1M
$4M
$-88M
$86M
$23M
$15M
$17M
$25M
Free Cash Flow
·
·
·
·
·
·
·
·
·
$-28M
·
·
·
·
·
·
Profitability7
Metric
Trend
Q2 2026
Q1 2026
Q4 2025
Q3 2025
Q2 2025
Q1 2025
Q4 2024
Q3 2024
Q2 2024
Q1 2024
Q3 2023
Q2 2023
Q1 2023
Q3 2022
Q2 2022
Q1 2022
Operating Margin
-81.6%
-240.5%
·
-362.2%
-2047.9%
·
·
·
-182.8%
·
·
·
·
·
·
-654.1%
Net Margin
-86.5%
-196.0%
·
-876.3%
-1213.6%
·
·
·
-82.6%
·
·
·
·
·
·
-653.4%
Pretax Margin
-84.5%
·
·
·
·
·
·
·
·
·
·
·
·
·
·
·
EBITDA Margin
-81.6%
-240.5%
·
-362.2%
-2047.9%
·
·
·
-182.8%
·
·
·
·
·
·
-654.1%
ROA
-17.2%
-20.4%
·
-65.0%
-13.4%
-43.9%
·
-15.8%
·
-27.7%
-13.9%
-16.6%
-13.3%
-16.2%
-19.6%
-13.4%
ROE
-80.6%
-148.3%
·
4411.9%
-37.7%
767.2%
·
-50.9%
·
-116.6%
-27.4%
-31.2%
-29.7%
-22.8%
-30.9%
-19.3%
ROIC
-66.7%
·
·
·
·
·
·
·
·
·
·
·
·
·
·
·
Liquidity & Solvency4
Metric
Trend
Q2 2026
Q1 2026
Q4 2025
Q3 2025
Q2 2025
Q1 2025
Q4 2024
Q3 2024
Q2 2024
Q1 2024
Q3 2023
Q2 2023
Q1 2023
Q3 2022
Q2 2022
Q1 2022
Current Ratio
2.3
3.0
·
2.6
3.5
3.5
·
3.2
·
4.4
7.3
9.1
5.3
5.0
4.9
6.7
Quick Ratio
1.7
2.7
·
2.3
3.3
3.3
·
3.0
·
3.0
4.0
8.8
4.3
3.6
3.2
2.8
Debt / Equity
0.0
0.0
·
-0.0
0.0
-0.0
·
0.0
·
0.0
0.0
0.0
0.0
·
·
·
Interest Coverage
-90.9
-117.5
·
-127.6
-206.4
-230.1
·
-32.3
-16.1
-24.8
-18.9
-18.1
-25.2
-24.7
-33.4
-303.2
Efficiency1
Metric
Trend
Q2 2026
Q1 2026
Q4 2025
Q3 2025
Q2 2025
Q1 2025
Q4 2024
Q3 2024
Q2 2024
Q1 2024
Q3 2023
Q2 2023
Q1 2023
Q3 2022
Q2 2022
Q1 2022
Asset Turnover
0.2
0.1
·
0.1
0.0
·
·
·
·
·
·
·
·
·
·
0.0
Per Share5
Metric
Trend
Q2 2026
Q1 2026
Q4 2025
Q3 2025
Q2 2025
Q1 2025
Q4 2024
Q3 2024
Q2 2024
Q1 2024
Q3 2023
Q2 2023
Q1 2023
Q3 2022
Q2 2022
Q1 2022
Book Value / Share
$0.55
$0.93
·
$-0.23
$0.59
$-0.63
·
$0.27
·
$0.99
$3.29
$4.02
$0.16
$0.30
$0.29
$0.39
Revenue / Share
$0.40
$0.19
·
$0.15
$0.03
·
·
·
·
·
·
·
·
·
·
$0.01
Cash Flow / Share
·
$-0.53
·
·
·
$-0.71
·
·
·
·
·
·
$-0.10
·
·
$-0.10
Cash / Share
$1.51
$1.88
·
$2.06
$2.67
$2.28
·
$2.81
·
$3.21
$3.76
$7.25
$0.48
$0.37
$0.34
$0.25
EPS (TTM)
$-2.25
$-2.52
·
$-4.42
$-3.67
$-3.36
·
$-3.93
$-4.08
$-5.14
$-6.47
$-5.81
$-4.56
$-4.88
$-4.92
$-4.90
Valuation (TTM)11
Metric
Trend
Q2 2026
Q1 2026
Q4 2025
Q3 2025
Q2 2025
Q1 2025
Q4 2024
Q3 2024
Q2 2024
Q1 2024
Q3 2023
Q2 2023
Q1 2023
Q3 2022
Q2 2022
Q1 2022
Revenue TTM
$88M
$50M
·
·
·
·
·
·
·
$3M
$3M
$3M
$3M
$3M
$3M
$4M
Net Income TTM
$-203M
$-194M
·
$-241M
$-167M
$-149M
·
$-93M
$-89M
$-106M
$-77M
$-75M
$-73M
$-73M
$-78M
$-73M
Market Cap
$346M
$466M
·
$589M
$255M
$310M
·
$120M
·
$299M
$205M
$188M
$1.01B
$2.14B
$2.61B
$3.15B
Enterprise Value
$210M
$284M
·
$452M
$91M
$194M
·
$7M
·
$218M
$111M
$5M
$914M
·
·
·
P/E
-1.7
-2.1
·
-2.0
-1.1
-1.8
·
-0.8
-0.7
-2.3
-1.3
-1.3
-1.1
-2.1
-2.8
-3.5
P/S
3.9
9.4
·
·
·
·
·
·
·
115.0
79.1
72.3
389.3
682.2
830.9
865.4
P/B
6.9
5.7
·
-38.0
7.1
-9.6
·
10.9
·
11.9
2.5
1.8
30.6
34.1
48.5
43.3
P / Tangible Book
10.1
7.1
·
·
12.5
·
·
10.9
·
11.9
2.5
1.8
30.6
34.1
48.5
43.3
P / Cash Flow
·
-8.9
·
·
·
-8.0
·
·
·
-10.5
·
·
-49.8
·
·
-163.5
EV / Revenue
2.4
5.7
·
·
·
·
·
·
·
84.1
42.6
2.0
352.3
·
·
·
Earnings Yield
-58.9%
-47.5%
·
-50.1%
-88.4%
-55.7%
·
-131.4%
-136.9%
-43.6%
-79.6%
-78.1%
-90.5%
-47.8%
-35.3%
-29.0%
Most recent period on the left · null values shown as ·
Financial Statements
Income statement, balance sheet, cash flow — annual, last 5 years
16
Metric
2025-12-31
2024-12-31
2023-12-31
2022-12-31
2021-12-31
Revenue
$31M
$10M
·
$3M
$2M
Operating Margin %
-550.3%
-1149.6%
·
-2809.6%
-2991.2%
Net Income
$-209M
$-131M
$-87M
$-74M
$-71M
Diluted EPS
$-3.02
$-3.66
$-3.96
$-4.57
$-4.90
Metric
2025-12-31
2024-12-31
2023-12-31
2022-12-31
2021-12-31
Current Ratio
3.1
3.1
5.4
4.3
5.7
Quick Ratio
2.8
2.9
3.0
3.5
1.1
Metric
2025-12-31
2024-12-31
2023-12-31
2022-12-31
2021-12-31
Free Cash Flow
·
$-105M
·
·
$-54M
Institutional owners (13F)
170 filers
· $397.4M total
· As of June 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.
Holders170
Value held$397.4M
New positions35
Exited positions30
Institutional activity — Q2 2026 vs prior quarter
New positions
Exited positions
Increased
Decreased
Net shares change
35 (-6 vs prior Q)
30 (+10 vs prior Q)
68 (-5 vs prior Q)
41 (+13 vs prior Q)
+13.4M
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.
Investors who filed SEC Schedule 13D — beneficial ownership above 5% with an intent to influence the issuer (activist stakes, board campaigns, M&A). Each row shows the most recent known state of that filer's position.
Filer
Filed
Stake
Status
Purpose
Filing
DEER VII & CO. LTD., DEER VII & CO. L.P., BESSEMER VENTURE PARTNERS VII L.P., BESSEMER VENTURE PARTNERS VII INSTITUTIONAL L.P., BVP VII SPECIAL OPPORTUNITY FUND L.P., DEER MANAGEMENT CO. LLC
×4 filings
MPM BioVentures V, L.P. (2), MPM Asset Management Investors BV5 LLC (2), MPM BioVentures V GP LLC (2), MPM BioVentures V LLC (2), Ansbert Gadicke (2), Luke Evnin (2), Steven St. Peter (2), Todd Foley (2), James Paul Scopa (2), Vaughn M. Kailian (2), John Vander Vort (2)
Purpose is an automated classification of the filer's own stated purpose (SEC Item 4) — not investment advice. "—" means no clear purpose was stated or the text could not be classified.
Company insiders
42 insiders
· 17 officers · 25 directors