| Market Cap | $5.31B | |
| Enterprise Value | — | |
| Revenue | $217.8M | −6.5% |
| Gross Profit | $113.5M | +48.5% |
| EBITDA | — | — |
| Net Income | -$33.6M | — |
| Diluted EPS | -$0.09 | — |
| Free Cash Flow | $25.3M | — |
| Ratio | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Trend · 6y | vs own | vs sector |
|---|---|---|---|---|---|---|---|---|---|
| ▾Margins | |||||||||
| Gross Margin | 78.59% | 79.20% | — | — | — | — | — | — | |
| Operating Margin | −3.20% | 1.80% | −28.68% | −21.96% | −39.98% | −23.37% | 42% | 53% | |
| EBITDA Margin | −2.87% | 2.29% | −27.82% | −20.98% | −38.67% | — | — | — | |
| NOPAT Margin | −2.53% | 1.23% | −22.65% | −17.35% | −31.58% | −18.47% | 42% | 45% | |
| Net Margin | −2.93% | 1.33% | −28.66% | −19.20% | −35.79% | −18.08% | 58% | 54% | |
| FCF Margin | −3.58% | — | — | — | — | — | — | — | — |
| FCFE Margin | −11.78% | — | — | — | — | — | — | — | — |
| OCF Margin | −3.54% | −11.41% | −48.78% | 2.24% | −13.51% | 3.13% | 92% | 60% | |
| Gross Profitability | 49.96% | 43.24% | 27.36% | 19.90% | 11.87% | 18.02% | 25% | 36% | |
| Capex Intensity | 0.04% | — | — | — | — | — | — | — | — |
| ▸Returns on Capital · 5 ratios | |||||||||
| ▸DuPont factors (ROE drivers) · 4 ratios | |||||||||
| ▸Earnings quality · 5 ratios | |||||||||
| ▸Liquidity & coverage · 6 ratios | |||||||||
| ▸Leverage · 9 ratios | |||||||||
| ▸Working capital · 8 ratios | |||||||||
| ▸Per share · 6 ratios | |||||||||
| ▸Other · 1 ratios | |||||||||
The five drivers multiply to 1.2% vs reported ROE 1.2%. High ROE from margin and turnover is earned; from the equity multiplier it is borrowed.
| Line | 2020↗ | 2021↗ | 2022↗ | 2023↗ | 2024↗ | 2025↗ |
|---|---|---|---|---|---|---|
| Revenue | $614.1M | $583.2M | $369.2M | $307.8M | $229.6M | $214.6M |
| YoY % | -5.0% | -36.7% | -16.6% | -25.4% | -6.5% | |
| Cost of Revenue | $131.4M | $121.3M | — | — | — | — |
| YoY % | -7.7% | |||||
| Gross Profit | $482.6M | $461.9M | $242.5M | $165.5M | $81.4M | $120.9M |
| YoY % | -4.3% | -47.5% | -31.7% | -50.8% | +48.5% | |
| R&D Expense | $39.0M | $29.3M | $30.4M | $22.2M | $20.9M | $19.8M |
| YoY % | -24.8% | +3.8% | -26.9% | -6.1% | -5.1% | |
| SG&A Expense | $463.3M | $408.3M | $304.4M | $199.9M | $152.3M | $115.0M |
| YoY % | -11.9% | -25.4% | -34.3% | -23.8% | -24.5% | |
| Total Operating Expenses | $502.3M | $451.4M | $348.4M | $233.1M | $173.2M | $171.0M |
| YoY % | -10.1% | -22.8% | -33.1% | -25.7% | -1.2% | |
| Operating Income | -$19.7M | $10.5M | -$105.9M | -$67.6M | -$91.8M | -$50.2M |
| Interest Expense | $2.6M | $129,000 | $15,000 | $8,000 | $7,000 | $7,000 |
| YoY % | -95.0% | -88.4% | -46.7% | -12.5% | 0.0% | |
| Interest & Investment Income | $4.9M | $1.2M | $2.8M | $11.9M | $13.4M | $10.9M |
| YoY % | -75.1% | +131.1% | +320.8% | +13.0% | -19.0% | |
| Other Non-Operating Income | $104,000 | -$302,000 | -$740,000 | $2.1M | $1.2M | $3.3M |
| YoY % | -41.8% | +172.8% | ||||
| Pretax Income | -$17.3M | $11.3M | -$103.8M | -$53.7M | -$77.2M | -$36.0M |
| Income Tax | $745,000 | $3.6M | $2.0M | $5.4M | $5.0M | $2.8M |
| YoY % | +378.1% | -43.9% | +172.4% | -8.4% | -44.8% | |
| Net Income (incl. NCI) | -$18.0M | $7.7M | -$105.8M | -$59.1M | -$82.2M | -$38.8M |
| Net Income | -$18.0M | $7.7M | -$105.8M | -$59.1M | -$82.2M | -$38.8M |
| Net Income to Common | — | $7.7M | -$105.8M | -$59.1M | -$82.2M | -$38.8M |
| EPS (Basic) | -$0.05 | $0.02 | -$0.26 | -$0.15 | -$0.20 | -$0.09 |
| EPS (Diluted) | -$0.05 | $0.02 | -$0.26 | -$0.15 | -$0.20 | -$0.09 |
| Weighted Avg Shares (Basic) | 381.8M | 396.0M | 401.2M | 407.7M | 410.9M | 415.0M |
| YoY % | +3.7% | +1.3% | +1.6% | +0.8% | +1.0% | |
| Weighted Avg Shares (Diluted) | 381.8M | 402.5M | 401.2M | 407.7M | 410.9M | 415.0M |
| YoY % | +5.4% | -0.3% | +1.6% | +0.8% | +1.0% |
The sector classification is SIC-derived, not official GICS. Statement lines are XBRL facts as filed with the company's home regulator (SEC EDGAR for US filers; ESEF/EDINET and other national regulators for foreign filers); ratios and other derived figures are computed from them. A blank cell means the tag was absent — never imputed.
