| Market Cap | $1.83B | |
| Enterprise Value | — | |
| Revenue | $412.8M | +13.8% |
| Gross Profit | $98.2M | — |
| EBITDA | -$892,000 | −128.7% |
| Net Income | -$8.2M | −140.6% |
| Diluted EPS | -$0.40 | −143.0% |
| Free Cash Flow | — | — |
| Ratio | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Trend · 12y | vs own | vs sector |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ▾Margins | |||||||||||||||
| Gross Margin | — | — | — | 55.78% | 56.92% | 64.23% | — | — | — | — | — | — | — | — | |
| Operating Margin | 4.58% | −42.40% | −91.88% | −42.00% | −20.35% | −19.31% | −11.72% | −10.03% | −24.00% | −72.55% | 12.21% | −8.10% | 79% | 62% | |
| EBITDA Margin | 6.45% | −39.57% | −84.69% | −34.28% | −14.84% | −14.96% | −8.08% | −7.06% | −20.40% | −67.41% | 16.47% | −4.15% | 79% | 59% | |
| NOPAT Margin | 3.62% | −33.49% | −72.59% | −33.18% | −16.07% | −15.25% | −9.26% | −7.92% | −18.96% | −57.31% | 12.14% | −6.40% | 79% | 55% | |
| Net Margin | 2.86% | −48.70% | −97.14% | −114.79% | −61.06% | −17.29% | −9.74% | −10.34% | −23.81% | −67.88% | 15.74% | −5.62% | 79% | 62% | |
| FCF Margin | — | — | — | — | — | — | — | — | — | −7.20% | — | — | — | — | — |
| OCF Margin | — | — | −40.67% | −29.61% | −5.23% | −2.18% | 17.39% | −6.51% | −7.84% | −6.56% | 11.40% | 11.07% | 75% | 74% | |
| Gross Profitability | — | — | — | 32.25% | 33.35% | 53.79% | — | — | — | — | — | — | — | — | |
| Capex Intensity | — | — | — | — | — | — | — | — | — | 0.64% | — | — | — | — | — |
| ▸Returns on Capital · 5 ratios | |||||||||||||||
| ▸DuPont factors (ROE drivers) · 4 ratios | |||||||||||||||
| ▸Earnings quality · 5 ratios | |||||||||||||||
| ▸Liquidity & coverage · 4 ratios | |||||||||||||||
| ▸Leverage · 9 ratios | |||||||||||||||
| ▸Working capital · 8 ratios | |||||||||||||||
| ▸Capital allocation · 1 ratios | |||||||||||||||
| ▸Per share · 6 ratios | |||||||||||||||
| ▸Other · 1 ratios | |||||||||||||||
The five drivers multiply to 14.2% vs reported ROE 16.4%. High ROE from margin and turnover is earned; from the equity multiplier it is borrowed.
| Line | 2014↗ | 2015↗ | 2016↗ | 2017↗ | 2018↗ | 2019↗ | 2020↗ | 2021↗ | 2022↗ | 2023↗ | 2024↗ | 2025↗ |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $27.3M | $28.1M | $40.6M | $48.3M | $76.6M | $127.1M | $192.2M | $296.4M | $321.8M | $280.3M | $333.8M | $379.8M |
| YoY % | +3.1% | +44.4% | +18.9% | +58.4% | +66.0% | +51.3% | +54.2% | +8.6% | -12.9% | +19.1% | +13.8% | |
| Cost of Revenue | — | — | — | $21.4M | $33.0M | $45.5M | — | — | — | — | — | — |
| YoY % | +54.4% | +37.8% | ||||||||||
| Gross Profit | — | — | — | $27.0M | $43.6M | $81.6M | — | — | — | — | — | — |
| YoY % | +61.7% | +87.3% | ||||||||||
| R&D Expense | $3.8M | $9.3M | $12.4M | $12.4M | $14.5M | $30.7M | $48.9M | $76.5M | $90.4M | $82.4M | $72.5M | $71.4M |
| YoY % | +142.7% | +32.7% | +0.0% | +17.2% | +111.6% | +59.4% | +56.4% | +18.1% | -8.8% | -12.0% | -1.5% | |
| Selling & Marketing Expense | $6.5M | $8.3M | $11.2M | $12.8M | $21.7M | $38.9M | $53.9M | $77.2M | $96.0M | $84.1M | $82.0M | $102.6M |
| YoY % | +29.0% | +33.7% | +14.7% | +69.2% | +79.5% | +38.5% | +43.4% | +24.3% | -12.5% | -2.5% | +25.2% | |
| SG&A Expense | $8.4M | $12.2M | $20.7M | $20.1M | $23.0M | $36.5M | $48.8M | $75.0M | $100.4M | $118.8M | $125.1M | $107.6M |
| YoY % | +45.2% | +69.2% | -3.0% | +14.3% | +59.0% | +33.6% | +53.6% | +33.9% | +18.4% | +5.3% | -14.0% | |
| Total Operating Expenses | $26.1M | $40.1M | $78.0M | $47.2M | $92.1M | $151.6M | $214.7M | $326.1M | $399.0M | $483.7M | $293.0M | $410.6M |
| YoY % | +53.8% | +94.5% | -39.4% | +95.0% | +64.5% | +41.6% | +51.9% | +22.4% | +21.2% | -39.4% | +40.1% | |
| Operating Income | $1.3M | -$11.9M | -$37.3M | -$20.3M | -$15.6M | -$24.5M | -$22.5M | -$29.7M | -$77.2M | -$203.4M | $40.8M | -$30.8M |
| Other Non-Operating Income | -$78,000 | -$188,000 | -$1.9M | -$1.0M | -$178,000 | -$719,000 | -$811,000 | -$2.6M | -$2.9M | $1.4M | $329,000 | $524,000 |
| YoY % | -75.7% | +59.3% | ||||||||||
| Impairment of Real Estate | — | — | — | — | — | — | $0 | $2.4M | $840,000 | $0 | $0 | $2.3M |
| YoY % | -65.5% | -100.0% | ||||||||||
| Pretax Income | -$719,000 | -$13.7M | -$41.4M | -$57.3M | -$48.2M | -$23.9M | -$19.8M | -$32.1M | -$76.2M | -$190.1M | $52.9M | -$21.1M |
| Income Tax | -$1.5M | $0 | -$1.6M | -$1.7M | -$1.4M | -$2.0M | -$1.0M | -$1.4M | $379,000 | $141,000 | $310,000 | $271,000 |
| YoY % | -62.8% | +119.9% | -12.6% | |||||||||
| Net Income (incl. NCI) | $781,000 | -$13.7M | -$39.8M | -$55.6M | -$46.8M | -$22.0M | -$18.7M | -$30.7M | — | — | — | — |
| Minority Interest (P&L) | $0 | $0 | -$287,000 | -$91,000 | -$25,000 | $0 | $0 | — | — | — | — | — |
| Net Income | $781,000 | -$13.7M | -$39.5M | -$55.5M | -$46.8M | -$22.0M | -$18.7M | -$30.7M | -$76.6M | -$190.3M | $52.5M | -$21.4M |
| Net Income to Common | — | — | — | — | — | — | — | -$30.7M | -$76.6M | -$190.3M | $52.5M | -$21.4M |
| EPS (Basic) | $0.13 | -$1.16 | -$2.39 | -$2.38 | -$1.31 | -$0.52 | -$0.40 | -$0.59 | -$1.44 | -$3.54 | $1.00 | -$0.40 |
| EPS (Diluted) | $0.10 | -$1.16 | -$2.39 | -$2.38 | -$1.31 | -$0.52 | -$0.40 | -$0.59 | -$1.44 | -$3.54 | $0.93 | -$0.40 |
| Weighted Avg Shares (Basic) | 5.8M | 11.9M | 16.5M | 23.3M | 35.6M | 42.2M | 46.5M | 52.2M | 53.3M | 53.8M | 52.8M | 53.3M |
| YoY % | +103.9% | +39.1% | +41.4% | +52.7% | +18.3% | +10.3% | +12.4% | +2.1% | +0.8% | -1.8% | +1.0% | |
| Weighted Avg Shares (Diluted) | 9.3M | 11.9M | 16.5M | 23.3M | 35.6M | 42.2M | 46.5M | 52.2M | 53.3M | 53.8M | 56.6M | 53.3M |
| YoY % | +27.8% | +39.1% | +41.4% | +52.7% | +18.3% | +10.3% | +12.4% | +2.1% | +0.8% | +5.3% | -5.9% |
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.
