| Market Cap | $1.66B | |
| Enterprise Value | — | |
| Revenue | $871.2M | +7.6% |
| Gross Profit | $577.9M | +0.5% |
| EBITDA | $71.3M | +39.0% |
| Net Income | $28.7M | −81.2% |
| Diluted EPS | $0.09 | −79.5% |
| Free Cash Flow | $144.4M | +119.8% |
| Ratio | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Trend · 7y | vs own | vs sector |
|---|---|---|---|---|---|---|---|---|---|---|
| ▾Margins | ||||||||||
| Gross Margin | 62.02% | 68.45% | 70.03% | 73.52% | 75.50% | 72.15% | 67.40% | 21% | 72% | |
| Operating Margin | −10.96% | −6.61% | −20.20% | −8.29% | 4.64% | 3.01% | 4.69% | 93% | 60% | |
| EBITDA Margin | −9.59% | −5.14% | −18.56% | −6.34% | 6.75% | 5.36% | 6.92% | 93% | 53% | |
| NOPAT Margin | −8.66% | −5.22% | −15.96% | −6.55% | 3.94% | 3.01% | 1.61% | 64% | 52% | |
| Net Margin | −12.26% | −9.81% | −22.64% | −9.02% | 7.02% | 15.27% | 2.67% | 64% | 56% | |
| FCF Margin | 5.04% | 1.19% | −7.93% | 3.33% | 8.59% | 9.01% | 18.41% | 93% | 72% | |
| OCF Margin | 5.85% | 1.89% | −6.69% | 4.31% | 9.76% | 9.74% | 18.57% | 93% | 69% | |
| Gross Profitability | — | 44.36% | 37.48% | 44.34% | 45.21% | 48.53% | 47.95% | 75% | 81% | |
| Capex Intensity | 0.81% | 0.70% | 1.25% | 0.99% | 1.17% | 0.73% | 0.16% | 7% | 7% | |
| ▸Returns on Capital · 5 ratios | ||||||||||
| ▸DuPont factors (ROE drivers) · 4 ratios | ||||||||||
| ▸Earnings quality · 7 ratios | ||||||||||
| ▸Liquidity & coverage · 8 ratios | ||||||||||
| ▸Leverage · 8 ratios | ||||||||||
| ▸Working capital · 3 ratios | ||||||||||
| ▸Capital allocation · 2 ratios | ||||||||||
| ▸Per share · 6 ratios | ||||||||||
The five drivers multiply to 3.9% vs reported ROE 3.8%. High ROE from margin and turnover is earned; from the equity multiplier it is borrowed.
| Line | 2020↗ | 2021↗ | 2022↗ | 2023↗ | 2024↗ | 2025↗ | 2026↗ |
|---|---|---|---|---|---|---|---|
| Revenue | $324.3M | $386.9M | $492.4M | $618.2M | $732.4M | $796.4M | $857.2M |
| YoY % | +19.3% | +27.3% | +25.5% | +18.5% | +8.7% | +7.6% | |
| Cost of Revenue | $123.2M | $122.1M | $147.6M | $163.7M | $179.4M | $221.8M | $279.4M |
| YoY % | -0.9% | +20.9% | +11.0% | +9.6% | +23.6% | +26.0% | |
| Gross Profit | $201.1M | $264.8M | $344.8M | $454.5M | $553.0M | $574.6M | $577.8M |
| YoY % | +31.7% | +30.2% | +31.8% | +21.7% | +3.9% | +0.5% | |
| R&D Expense | $32.5M | $40.3M | $60.6M | $76.7M | $91.3M | $91.6M | $96.0M |
| YoY % | +24.0% | +50.4% | +26.5% | +19.1% | +0.4% | +4.8% | |
| Selling & Marketing Expense | $164.0M | $185.8M | $287.0M | $336.7M | $317.8M | $319.6M | $287.6M |
| YoY % | +13.3% | +54.4% | +17.3% | -5.6% | +0.6% | -10.0% | |
| SG&A Expense | $40.2M | $64.3M | $84.8M | $92.3M | $105.7M | $136.6M | $137.1M |
| YoY % | +60.2% | +31.7% | +8.9% | +14.5% | +29.3% | +0.4% | |
| Total Operating Expenses | $236.6M | $290.4M | $444.3M | $505.7M | $519.0M | $550.7M | $537.5M |
| YoY % | +22.7% | +53.0% | +13.8% | +2.6% | +6.1% | -2.4% | |
| Operating Income | -$35.5M | -$25.6M | -$99.5M | -$51.2M | $33.9M | $24.0M | $40.2M |
| YoY % | -29.4% | +67.9% | |||||
| Interest Expense | $0 | $5.5M | $3.3M | — | — | — | — |
| YoY % | -40.9% | ||||||
| Interest & Investment Income | — | — | $500,000 | $8.5M | $30.2M | $26.0M | $20.2M |
| YoY % | +1600.0% | +255.3% | -13.9% | -22.3% | |||
| Other Non-Operating Income | -$927,000 | -$8.6M | -$5.1M | $3.8M | $26.6M | $24.3M | $26.6M |
| YoY % | +607.6% | -8.5% | +9.2% | ||||
| Pretax Income | -$36.5M | -$34.2M | -$104.6M | -$47.5M | $60.5M | $48.3M | $66.8M |
| YoY % | -20.2% | +38.3% | |||||
| Income Tax | $3.3M | $3.8M | $6.9M | $8.3M | $9.1M | -$73.3M | $43.9M |
| YoY % | +13.6% | +83.1% | +19.6% | +10.2% | |||
| Net Income (incl. NCI) | -$39.8M | -$38.0M | -$111.5M | — | — | — | — |
| Net Income | -$39.8M | -$38.0M | -$111.5M | -$55.7M | $51.4M | $121.6M | $22.9M |
| YoY % | +136.6% | -81.2% | |||||
| Net Income to Common | -$39.8M | -$38.6M | -$111.5M | -$55.7M | — | — | — |
| EPS (Basic) | -$0.47 | -$0.42 | -$0.57 | -$0.21 | $0.19 | $0.47 | $0.09 |
| YoY % | +147.4% | -80.9% | |||||
| EPS (Diluted) | -$0.47 | -$0.42 | -$0.57 | -$0.21 | $0.18 | $0.44 | $0.09 |
| YoY % | +144.4% | -79.5% | |||||
| Weighted Avg Shares (Basic) | 84.3M | 90.4M | 195.0M | 259.5M | 270.0M | 260.2M | 250.8M |
| YoY % | +7.2% | +115.8% | +33.1% | +4.0% | -3.6% | -3.6% | |
| Weighted Avg Shares (Diluted) | 84.3M | 90.4M | 195.0M | 259.5M | 287.1M | 274.8M | 258.0M |
| YoY % | +7.2% | +115.8% | +33.1% | +10.6% | -4.3% | -6.1% |
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.
