| Market Cap | $3.33B | |
| Enterprise Value | — | |
| Revenue | $289.8M | +31.6% |
| Gross Profit | $90.7M | +136.1% |
| EBITDA | -$4.7M | — |
| Net Income | -$14.7M | — |
| Diluted EPS | -$0.47 | — |
| Free Cash Flow | $22.2M | — |
| Ratio | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Trend · 10y | vs own | vs sector |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ▾Margins | |||||||||||||
| Gross Margin | 22.86% | 31.95% | 34.99% | 29.63% | 26.65% | 28.62% | 21.00% | 21.97% | 16.63% | 29.83% | 75% | 26% | |
| Operating Margin | −9.22% | 7.07% | 8.92% | −5.61% | −9.45% | −11.19% | −22.76% | −22.28% | −33.06% | −10.16% | 45% | 35% | |
| EBITDA Margin | −1.22% | 12.79% | 13.25% | −1.26% | −4.28% | −6.35% | −17.00% | −15.22% | −26.10% | −5.12% | 45% | 34% | |
| NOPAT Margin | −7.28% | 1.94% | 7.09% | −4.43% | −7.46% | −8.84% | −17.98% | −17.60% | −26.12% | −8.03% | 45% | 31% | |
| Net Margin | −14.02% | 1.33% | 7.28% | −7.29% | −9.40% | −10.98% | −22.55% | −19.85% | −30.62% | −8.98% | 65% | 34% | |
| FCF Margin | — | — | −3.77% | −9.42% | −4.66% | −9.91% | −14.84% | 2.26% | −5.18% | 4.71% | 94% | 41% | |
| OCF Margin | 5.88% | 2.46% | 1.76% | −2.40% | 5.85% | −2.76% | −6.01% | 4.81% | −1.19% | 8.16% | 95% | 46% | |
| Gross Profitability | — | 40.20% | 26.77% | 20.94% | 20.93% | 20.69% | 15.44% | 15.03% | 12.22% | 24.73% | 72% | 43% | |
| Capex Intensity | — | — | 5.53% | 7.02% | 10.51% | 7.15% | 8.84% | 2.54% | 4.00% | 3.46% | 19% | 67% | |
| ▸Returns on Capital · 6 ratios | |||||||||||||
| ▸DuPont factors (ROE drivers) · 4 ratios | |||||||||||||
| ▸Earnings quality · 7 ratios | |||||||||||||
| ▸Liquidity & coverage · 8 ratios | |||||||||||||
| ▸Leverage · 9 ratios | |||||||||||||
| ▸Working capital · 8 ratios | |||||||||||||
| ▸Capital allocation · 1 ratios | |||||||||||||
| ▸Per share · 6 ratios | |||||||||||||
| ▸Other · 1 ratios | |||||||||||||
The five drivers multiply to 8.9% vs reported ROE 10.0%. High ROE from margin and turnover is earned; from the equity multiplier it is borrowed.
| Line | 2016↗ | 2017↗ | 2018↗ | 2019↗ | 2020↗ | 2021↗ | 2022↗ | 2023↗ | 2024↗ | 2025↗ |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $101.3M | $138.6M | $191.4M | $176.6M | $222.8M | $270.1M | $242.1M | $209.9M | $198.5M | $261.3M |
| YoY % | +36.8% | +38.1% | -7.7% | +26.1% | +21.3% | -10.4% | -13.3% | -5.4% | +31.6% | |
| Cost of Revenue | $78.2M | $94.3M | $124.4M | $124.3M | $163.4M | $192.8M | $191.2M | $163.8M | $165.5M | $183.4M |
| YoY % | +20.7% | +31.9% | -0.1% | +31.5% | +18.0% | -0.8% | -14.3% | +1.1% | +10.8% | |
| Gross Profit | $23.2M | $44.3M | $67.0M | $52.3M | $59.4M | $77.3M | $50.8M | $46.1M | $33.0M | $78.0M |
| YoY % | +91.1% | +51.2% | -21.8% | +13.4% | +30.2% | -34.3% | -9.3% | -28.4% | +136.1% | |
| R&D Expense | $15.2M | $15.1M | $21.1M | $28.1M | $41.2M | $54.8M | $53.8M | $46.2M | $45.1M | $48.0M |
| YoY % | -0.8% | +39.2% | +33.6% | +46.3% | +33.2% | -1.9% | -14.2% | -2.3% | +6.4% | |
| SG&A Expense | $17.3M | $19.4M | $28.8M | $34.1M | $39.2M | $52.7M | $48.3M | $45.9M | $49.3M | $54.2M |
| YoY % | +12.1% | +49.0% | +18.3% | +15.1% | +34.3% | -8.4% | -4.9% | +7.3% | +10.0% | |
| Total Operating Expenses | $32.5M | $34.5M | $49.9M | $62.2M | $80.4M | $107.5M | $105.9M | $92.9M | $98.7M | $104.5M |
| YoY % | +6.1% | +44.7% | +24.8% | +29.2% | +33.7% | -1.5% | -12.3% | +6.2% | +5.9% | |
| Operating Income | -$9.3M | $9.8M | $17.1M | -$9.9M | -$21.0M | -$30.2M | -$55.1M | -$46.8M | -$65.6M | -$26.6M |
| YoY % | +74.1% | |||||||||
| Interest Expense | — | — | — | — | — | — | — | $67,000 | $105,000 | $1.1M |
| YoY % | +56.7% | +932.4% | ||||||||
| Interest & Investment Income | — | — | — | — | — | — | — | $1.4M | $1.8M | $4.9M |
| YoY % | +25.8% | +176.7% | ||||||||
| Other Non-Operating Income | -$753,000 | -$1.8M | -$253,000 | $535,000 | $378,000 | $336,000 | $338,000 | $2.8M | $3.1M | -$40,000 |
| YoY % | -29.3% | -11.1% | +0.6% | +721.3% | +11.7% | |||||
| Impairment of Real Estate | — | — | — | — | $0 | $0 | $0 | $0 | $0 | $0 |
| Pretax Income | -$12.3M | $6.7M | $17.5M | -$6.8M | -$20.6M | -$30.0M | -$54.2M | -$42.6M | -$60.9M | -$22.8M |
| YoY % | +162.0% | |||||||||
| Income Tax | $1.9M | $4.9M | $3.6M | $6.1M | $340,000 | -$375,000 | $344,000 | -$978,000 | -$76,000 | $699,000 |
| YoY % | +158.1% | -25.9% | +70.0% | -94.4% | ||||||
| Net Income | -$14.2M | $1.8M | $13.9M | -$12.9M | -$20.9M | -$29.7M | -$54.6M | -$41.7M | -$60.8M | -$23.5M |
| YoY % | +658.7% | |||||||||
| Net Income to Common | -$14.2M | $0 | $9.5M | -$12.9M | -$20.9M | — | — | — | — | — |
| EPS (Basic) | -$5.68 | $0.00 | $0.38 | -$0.35 | -$0.55 | -$0.70 | -$1.23 | -$0.90 | -$1.27 | -$0.47 |
| EPS (Diluted) | -$5.68 | $0.00 | $0.32 | -$0.35 | -$0.55 | -$0.70 | -$1.23 | -$0.90 | -$1.27 | -$0.47 |
| Weighted Avg Shares (Basic) | 2.5M | 2.7M | 24.9M | 37.1M | 38.4M | 42.1M | 44.4M | 46.1M | 47.9M | 50.0M |
| YoY % | +9.4% | +809.0% | +49.3% | +3.4% | +9.8% | +5.4% | +3.7% | +4.0% | +4.3% | |
| Weighted Avg Shares (Diluted) | 2.5M | 2.7M | 30.0M | 37.1M | 38.4M | 42.1M | 44.4M | 46.1M | 47.9M | 50.0M |
| YoY % | +9.4% | +995.4% | +23.9% | +3.4% | +9.8% | +5.4% | +3.7% | +4.0% | +4.3% |
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.
