Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2024 -6.3% Revenue growth, 20242 Where the money goes Where each dollar of revenue went, fiscal 2024 Cost of revenue Income tax
Cost of revenue 48¢ $132.6M Selling, general and admin 9¢ $26.0M Interest 2¢ $4.3M Income tax 41¢ $113.8M Out of $139.9M in revenue.2
Where each dollar of operating cash went, fiscal 2024 Capital spending
Capital spending 100¢ $31.8M Out of $11.0M of cash from operations. Spending exceeded cash from operations; the rest came from savings or borrowing.2
Financial statements
Income statement Balance sheet Cash flow
Annual Quarterly
Revenue4 5 6 7 8 2 $139.9M in 2024+143% since 2017 0 $50.0M $100.0M $150.0M 2017: $57.6M $57.6M 2017 2018: $53.6M $53.6M 2018 −7% 2019: $53.6M $53.6M 2019 −0% 2020: $59.7M $59.7M 2020 +11% 2021: $95.9M $95.9M 2021 +61% 2022: $119.6M $119.6M 2022 +25% 2023: $149.3M $149.3M 2023 +25% 2024: $139.9M $139.9M 2024 −6% Gross profit4 5 6 7 8 2 $7.3M in 2024−62% since 2017 -$10.0M 0 $10.0M $20.0M $30.0M $40.0M 2017: $19.4M $19.4M 2017 2018: -$2.9M -$2.9M 2018 2019: $7.2M $7.2M 2019 2020: $3.9M $3.9M 2020 −46% 2021: $29.3M $29.3M 2021 +645% 2022: $36.6M $36.6M 2022 +25% 2023: $31.5M $31.5M 2023 −14% 2024: $7.3M $7.3M 2024 −77% Operating income4 5 6 7 8 2 -$18.7M in 2024-$30.0M -$20.0M -$10.0M 0 $10.0M $20.0M 2017: $1.3M $1.3M 2017 2018: -$20.6M -$20.6M 2018 2019: -$5.6M -$5.6M 2019 −73% 2020: -$10.9M -$10.9M 2020 +95% 2021: $12.2M $12.2M 2021 2022: $15.4M $15.4M 2022 +26% 2023: $3.6M $3.6M 2023 −77% 2024: -$18.7M -$18.7M 2024 Net income4 5 6 7 8 2 -$140.8M in 2024+400% since 2017 -$200.0M -$100.0M 0 $100.0M $200.0M 2017: -$28.2M -$28.2M 2017 2018: -$21.8M -$21.8M 2018 −23% 2019: -$4.2M -$4.2M 2019 −81% 2020: -$10.5M -$10.5M 2020 +148% 2021: $11.2M $11.2M 2021 2022: $127.7M $127.7M 2022 +1039% 2023: $259.0K $259.0K 2023 −100% 2024: -$140.8M -$140.8M 2024 Revenue9 10 $33.5M in Q2 FY2024−17% since Q1 FY2024 0 $20.0M $40.0M $60.0M Q1 FY2024: $40.2M $40.2M Q1 FY2024 Q2 FY2024: $33.5M $33.5M Q2 FY2024 −17% Gross profit9 10 -$2.0M in Q2 FY2024-$4.0M -$2.0M 0 $2.0M $4.0M $6.0M Q1 FY2024: $5.7M $5.7M Q1 FY2024 Q2 FY2024: -$2.0M -$2.0M Q2 FY2024 Operating income9 10 -$12.6M in Q2 FY2024+414% since Q1 FY2024 -$15.0M -$10.0M -$5.0M 0 Q1 FY2024: -$2.5M -$2.5M Q1 FY2024 Q2 FY2024: -$12.6M -$12.6M Q2 FY2024 +414% Net income9 10 -$17.4M in Q2 FY2024+215% since Q1 FY2024 -$20.0M -$15.0M -$10.0M -$5.0M 0 Q1 FY2024: -$5.5M -$5.5M Q1 FY2024 Q2 FY2024: -$17.4M -$17.4M Q2 FY2024 +215% Fiscal year 2017 2018 2019 2020 2021 2022 2023 2024 Revenue $57.6M4 $53.6M5 $53.6M6 $59.7M7 $95.9M8 $119.6M2 $149.3M2 $139.9M2 Cost of revenue $38.3M4 $56.5M4 $46.4M4 $55.8M7 $66.6M8 $82.9M2 $117.8M2 $132.6M2 Gross profit $19.4M4 -$2.9M5 $7.2M6 $3.9M7 $29.3M8 $36.6M2 $31.5M2 $7.3M2 Research and development $28.3M11 Selling, general and admin $18.1M4 $16.5M5 $12.8M6 $14.5M7 $17.1M8 $21.2M2 $27.9M2 $26.0M2 Operating income $1.3M4 -$20.6M5 -$5.6M6 -$10.9M7 $12.2M8 $15.4M2 $3.6M2 -$18.7M2 Interest $11.0K6 $8.0K7 $1.2M8 $2.7M2 $3.0M2 $4.3M2 Income tax $04 $05 -$284.0K6 $07 $08 -$115.0M2 $1.3M2 $113.8M2 Net income -$28.2M4 -$21.8M5 -$4.2M6 -$10.5M7 $11.2M8 $127.7M2 $259.0K2 -$140.8M2 Earnings per share -$0.166 -$0.277 $0.068 $2.082 $0.002 -$2.232 Earnings per share (diluted) -$0.166 -$0.277 $0.068 $1.842 $0.002 -$2.232
Total assets12 4 5 6 7 8 2 $336.6M in 2024+185% since 2017 0 $200.0M $400.0M $600.0M 2017: $118.1M $118.1M 2017 2018: $95.8M $95.8M 2018 −19% 2019: $78.4M $78.4M 2019 −18% 2020: $107.6M $107.6M 2020 +37% 2021: $265.5M $265.5M 2021 +147% 2022: $442.7M $442.7M 2022 +67% 2023: $451.6M $451.6M 2023 +2% 2024: $336.6M $336.6M 2024 −25% Total liabilities5 6 7 8 2 $275.7M in 2024+988% since 2019 0 $100.0M $200.0M $300.0M 2019: $25.3M $25.3M 2019 2020: $65.7M $65.7M 2020 +160% 2021: $187.8M $187.8M 2021 +186% 2022: $261.1M $261.1M 2022 +39% 2023: $262.4M $262.4M 2023 +0% 2024: $275.7M $275.7M 2024 +5% Shareholders’ equity5 6 7 8 2 $60.9M in 2024+14% since 2017 0 $50.0M $100.0M $150.0M $200.0M 2017: $53.6M $53.6M 2017 2018: $55.7M $55.7M 2018 +4% 2019: $53.1M $53.1M 2019 −5% 2020: $41.9M $41.9M 2020 −21% 2021: $77.7M $77.7M 2021 +86% 2022: $181.6M $181.6M 2022 +134% 2023: $189.2M $189.2M 2023 +4% 2024: $60.9M $60.9M 2024 −68% Cash4 5 6 7 8 2 $38.1M in 2024−19% since 2017 0 $50.0M $100.0M $150.0M $200.0M 2017: $46.8M $46.8M 2017 2018: $42.3M $42.3M 2018 −10% 2019: $32.4M $32.4M 2019 −23% 2020: $36.3M $36.3M 2020 +12% 2021: $169.9M $169.9M 2021 +369% 2022: $77.3M $77.3M 2022 −55% 2023: $38.5M $38.5M 2023 −50% 2024: $38.1M $38.1M 2024 −1% Long-term debt7 8 2 $54.2M in 2024+25% since 2022 0 $20.0M $40.0M $60.0M 2022: $43.5M $43.5M 2022 2023: $49.1M $49.1M 2023 +13% 2024: $54.2M $54.2M 2024 +10% Total assets9 10 $323.5M in Q2 FY2024−4% since Q1 FY2024 0 $100.0M $200.0M $300.0M $400.0M Q1 FY2024: $336.6M $336.6M Q1 FY2024 Q2 FY2024: $336.6M $336.6M Q2 FY2024 +0% Q1 FY2024: $334.6M $334.6M Q1 FY2024 −1% Q2 FY2024: $323.5M $323.5M Q2 FY2024 −3% Total liabilities9 10 $278.7M in Q2 FY2024+1% since Q1 FY2024 0 $100.0M $200.0M $300.0M Q1 FY2024: $275.7M $275.7M Q1 FY2024 Q2 FY2024: $275.7M $275.7M Q2 FY2024 +0% Q1 FY2024: $276.0M $276.0M Q1 FY2024 +0% Q2 FY2024: $278.7M $278.7M Q2 FY2024 +1% Shareholders’ equity9 10 $44.8M in Q2 FY2024−26% since Q1 FY2024 0 $20.0M $40.0M $60.0M $80.0M Q1 FY2024: $60.9M $60.9M Q1 FY2024 Q2 FY2024: $60.9M $60.9M Q2 FY2024 +0% Q1 FY2024: $58.6M $58.6M Q1 FY2024 −4% Q2 FY2024: $58.6M $58.6M Q2 FY2024 +0% Q2 FY2024: $44.8M $44.8M Q2 FY2024 −24% Cash9 10 $33.4M in Q2 FY2024−12% since Q1 FY2024 0 $10.0M $20.0M $30.0M $40.0M Q1 FY2024: $38.1M $38.1M Q1 FY2024 Q2 FY2024: $38.1M $38.1M Q2 FY2024 +0% Q1 FY2024: $33.4M $33.4M Q1 FY2024 −12% Q2 FY2024: $33.4M $33.4M Q2 FY2024 +0% Long-term debt9 10 $52.9M in Q2 FY2024−1% since Q1 FY2024 0 $20.0M $40.0M $60.0M Q1 FY2024: $53.6M $53.6M Q1 FY2024 Q2 FY2024: $52.9M $52.9M Q2 FY2024 −1% Fiscal year 2017 2018 2019 2020 2021 2022 2023 2024 Cash $46.8M4 $42.3M5 $32.4M6 $36.3M7 $169.9M8 $77.3M8 $38.5M2 $38.1M2 Current assets $89.9M12 $67.8M4 $51.3M5 $59.8M6 $207.8M7 $145.9M8 $112.5M2 $104.0M2 Total assets $118.1M12 $95.8M4 $78.4M5 $107.6M6 $265.5M7 $442.7M8 $451.6M2 $336.6M2 Current liabilities $62.9M12 $37.9M4 $23.2M5 $44.5M6 $70.9M7 $222.9M8 $215.1M2 $70.6M2 Long-term debt $43.5M7 $49.1M8 $54.2M2 Total liabilities $25.3M5 $65.7M6 $187.8M7 $261.1M8 $262.4M2 $275.7M2 Shareholders’ equity $53.6M5 $55.7M6 $53.1M7 $41.9M8 $77.7M2 $181.6M8 $189.2M2 $60.9M2 Shares outstanding 45.1M shares11 55.8M shares12 56.1M shares4 56.5M shares5 61.1M shares6 61.8M shares7 62.7M shares8 63.6M shares2
Cash from operations4 5 6 7 8 2 $11.0M in 2024-$40.0M -$20.0M 0 $20.0M $40.0M 2017: -$39.2M -$39.2M 2017 2018: -$26.0M -$26.0M 2018 −34% 2019: -$11.6M -$11.6M 2019 −55% 2020: $5.8M $5.8M 2020 2021: $31.2M $31.2M 2021 +435% 2022: $9.5M $9.5M 2022 −70% 2023: -$12.7M -$12.7M 2023 2024: $11.0M $11.0M 2024 Capital spending4 5 6 7 8 2 $31.8M in 2024+777% since 2017 0 $20.0M $40.0M $60.0M $80.0M 2017: $3.6M $3.6M 2017 2018: $3.8M $3.8M 2018 +5% 2019: $1.5M $1.5M 2019 −60% 2020: $3.8M $3.8M 2020 +154% 2021: $9.9M $9.9M 2021 +159% 2022: $56.4M $56.4M 2022 +472% 2023: $77.8M $77.8M 2023 +38% 2024: $31.8M $31.8M 2024 −59% Free cash flow4 5 6 7 8 2 -$20.9M in 2024−51% since 2017 -$100.0M -$50.0M 0 $50.0M 2017: -$42.8M -$42.8M 2017 2018: -$29.8M -$29.8M 2018 −30% 2019: -$13.1M -$13.1M 2019 −56% 2020: $2.0M $2.0M 2020 2021: $21.3M $21.3M 2021 +958% 2022: -$46.9M -$46.9M 2022 2023: -$90.5M -$90.5M 2023 +93% 2024: -$20.9M -$20.9M 2024 −77% Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Fiscal year 2017 2018 2019 2020 2021 2022 2023 2024 Cash from operations -$39.2M4 -$26.0M5 -$11.6M6 $5.8M7 $31.2M8 $9.5M2 -$12.7M2 $11.0M2 Capital spending $3.6M4 $3.8M5 $1.5M6 $3.8M7 $9.9M8 $56.4M2 $77.8M2 $31.8M2 Free cash flow -$42.8M -$29.8M -$13.1M $2.0M $21.3M -$46.9M -$90.5M -$20.9M
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