| Market Cap | $403.9M | |
| Enterprise Value | — | |
| Revenue | $148.9M | +77.1% |
| Gross Profit | $75.0M | +87.2% |
| EBITDA | $50.7M | +138.0% |
| Net Income | $44.9M | — |
| Diluted EPS | $0.03 | — |
| Free Cash Flow | $22.8M | +291.4% |
| Ratio | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Trend · 7y | vs own | vs sector |
|---|---|---|---|---|---|---|---|---|---|---|
| ▾Margins | ||||||||||
| Gross Margin | 44.34% | 46.76% | 45.86% | 48.58% | 46.55% | 47.70% | 50.40% | 93% | 33% | |
| Operating Margin | −12.70% | 8.29% | 15.72% | 10.76% | 19.05% | 23.32% | 32.99% | 93% | 97% | |
| EBITDA Margin | −5.37% | 13.47% | 19.47% | 14.50% | 21.49% | 25.33% | 34.03% | 93% | 96% | |
| NOPAT Margin | — | — | 15.72% | 9.62% | 19.05% | 18.42% | 26.06% | 90% | 95% | |
| Net Margin | −12.45% | 20.05% | 27.58% | 10.43% | 35.51% | −5.13% | 30.14% | 79% | 94% | |
| FCF Margin | — | — | 18.63% | −7.02% | −7.14% | 6.94% | 15.33% | 70% | 84% | |
| FCFF Margin | — | — | 18.82% | −4.37% | −6.90% | — | 15.39% | 63% | 50% | |
| OCF Margin | −9.97% | 12.58% | 20.17% | 9.78% | −5.71% | 8.87% | 15.95% | 79% | 81% | |
| Gross Profitability | 31.97% | 45.31% | 42.09% | 40.58% | 31.51% | 41.59% | 54.25% | 93% | 81% | |
| Capex Intensity | — | — | 1.55% | 16.80% | 1.43% | 1.93% | 0.62% | 10% | 21% | |
| ▸Returns on Capital · 5 ratios | ||||||||||
| ▸DuPont factors (ROE drivers) · 4 ratios | ||||||||||
| ▸Earnings quality · 7 ratios | ||||||||||
| ▸Liquidity & coverage · 9 ratios | ||||||||||
| ▸Leverage · 9 ratios | ||||||||||
| ▸Working capital · 8 ratios | ||||||||||
| ▸Capital allocation · 1 ratios | ||||||||||
| ▸Per share · 6 ratios | ||||||||||
| ▸Other · 1 ratios | ||||||||||
The five drivers multiply to 53.5% vs reported ROE 58.9%. High ROE from margin and turnover is earned; from the equity multiplier it is borrowed.
| Line | 2020↗ | 2021↗ | 2022↗ | 2023↗ | 2024↗ | 2025↗ | 2026↗ |
|---|---|---|---|---|---|---|---|
| Revenue | $18.0M | $25.4M | $32.3M | $34.2M | $56.6M | $84.0M | $148.9M |
| YoY % | +41.0% | +27.1% | +5.9% | +65.8% | +48.4% | +77.1% | |
| Cost of Revenue | $10.0M | $13.5M | $17.5M | $17.6M | $30.3M | $44.0M | $73.8M |
| YoY % | +34.9% | +29.3% | +0.5% | +72.4% | +45.2% | +68.0% | |
| Gross Profit | $8.0M | $11.9M | $14.8M | $16.6M | $26.4M | $40.1M | $75.0M |
| YoY % | +48.7% | +24.7% | +12.2% | +58.8% | +52.1% | +87.2% | |
| R&D Expense | $5.5M | $5.1M | $4.1M | $6.2M | $6.9M | $8.0M | $5.7M |
| YoY % | -7.6% | -20.8% | +53.0% | +11.0% | +15.7% | -27.9% | |
| SG&A Expense | $3.3M | $3.3M | $4.5M | $5.1M | $7.1M | $9.0M | $17.6M |
| YoY % | -0.8% | +34.3% | +14.7% | +39.5% | +26.0% | +95.5% | |
| Total Operating Expenses | $10.3M | $9.8M | $9.7M | $12.9M | $15.6M | $20.5M | $25.9M |
| YoY % | -4.9% | -0.4% | +32.8% | +20.5% | +31.6% | +26.5% | |
| Operating Income | -$2.3M | $2.1M | $5.1M | $3.7M | $10.8M | $19.6M | $49.1M |
| YoY % | +140.9% | -27.5% | +193.5% | +81.7% | +150.6% | ||
| Interest Expense | $79,870 | $77,218 | $62,845 | $1.0M | $137,438 | $128,234 | $111,361 |
| YoY % | -3.3% | -18.6% | +1513.3% | -86.4% | -6.7% | -13.2% | |
| Interest & Investment Income | $11,979 | $514 | $126 | $7,453 | $20,918 | $20,944 | $207,857 |
| YoY % | -95.7% | -75.5% | +5815.1% | +180.7% | +0.1% | +892.4% | |
| Other Non-Operating Income | — | $2.0M | $1.2M | $309,872 | -$10.3M | -$19.7M | $7.7M |
| YoY % | -39.5% | -74.9% | |||||
| Gains on Sale of Real Estate | — | — | — | $1.0M | — | — | — |
| Impairment of Real Estate | — | — | — | $300,000 | $0 | $1.6M | $847,012 |
| YoY % | -100.0% | -47.2% | |||||
| Pretax Income | -$2.2M | $4.1M | $6.3M | $4.0M | $463,092 | -$52,140 | $56.8M |
| YoY % | +52.1% | -36.8% | -88.4% | ||||
| Income Tax | — | — | -$1.7M | $424,028 | -$19.6M | $4.3M | $11.9M |
| YoY % | +180.2% | ||||||
| Income from Discontinued Operations | $1.1M | — | — | — | — | — | — |
| Net Income (incl. NCI) | -$2.2M | — | — | — | — | — | — |
| Net Income | -$2.2M | $5.1M | $8.9M | $3.6M | $20.1M | -$4.3M | $44.9M |
| YoY % | +74.9% | -60.0% | +464.6% | ||||
| Net Income to Common | -$2.2M | $5.1M | $8.9M | $3.6M | $20.1M | -$4.3M | $44.9M |
| YoY % | +74.9% | -60.0% | +464.6% | ||||
| EPS (Basic) | $0.00 | $0.01 | $0.01 | $0.00 | $0.02 | $0.00 | $0.04 |
| YoY % | 0.0% | -100.0% | -100.0% | ||||
| EPS (Diluted) | $0.00 | $0.00 | $0.01 | $0.00 | $0.02 | $0.00 | $0.03 |
| YoY % | -100.0% | -100.0% | |||||
| Weighted Avg Shares (Basic) | 832.3M | 943.0M | 1.01B | 1.01B | 1.02B | 1.07B | 1.07B |
| YoY % | +13.3% | +7.2% | +0.2% | +0.2% | +5.2% | +0.4% | |
| Weighted Avg Shares (Diluted) | 993.3M | 943.0M | 1.01B | 1.01B | 1.02B | 1.07B | 1.14B |
| YoY % | -5.1% | +7.2% | +0.2% | +1.0% | +4.4% | +6.6% |
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.
