| Market Cap | $2.03B | |
| Enterprise Value | $2.19B | |
| Revenue | $610.1M | +10.0% |
| Gross Profit | $374.7M | +10.9% |
| EBITDA | $68.0M | +152.5% |
| Net Income | $13.3M | — |
| Diluted EPS | $0.05 | — |
| Free Cash Flow | $110.8M | +54.7% |
| Ratio | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Trend · 7y | vs own | vs sector |
|---|---|---|---|---|---|---|---|---|---|---|
| ▾Margins | ||||||||||
| Gross Margin | 53.63% | 56.86% | 59.32% | 58.46% | 59.82% | 60.07% | 60.55% | 93% | 65% | |
| Operating Margin | −20.39% | −20.86% | −26.06% | −23.02% | −8.29% | −3.35% | 0.63% | 93% | 50% | |
| EBITDA Margin | −17.05% | −17.22% | −22.40% | −14.54% | 1.21% | 3.37% | 7.73% | 93% | 55% | |
| NOPAT Margin | −16.11% | −16.48% | −20.58% | −18.19% | −6.55% | −2.65% | 0.63% | 93% | 48% | |
| Net Margin | −19.97% | −19.84% | −18.05% | −25.16% | −8.89% | −7.01% | 0.87% | 93% | 52% | |
| FCF Margin | −10.68% | 2.39% | −9.02% | −8.26% | 11.28% | 9.87% | 13.88% | 93% | 63% | |
| FCFF Margin | — | — | — | — | — | — | 16.82% | — | 50% | 49% |
| OCF Margin | −6.51% | 4.51% | −7.02% | −3.77% | 12.02% | 10.21% | 15.14% | 93% | 61% | |
| Gross Profitability | — | 20.62% | 12.49% | 17.98% | 21.27% | 20.17% | 21.85% | 92% | 38% | |
| Capex Intensity | 4.17% | 2.12% | 1.99% | 4.49% | 0.74% | 0.34% | 1.26% | 36% | 40% | |
| ▸Returns on Capital · 3 ratios | ||||||||||
| ▸DuPont factors (ROE drivers) · 4 ratios | ||||||||||
| ▸Earnings quality · 6 ratios | ||||||||||
| ▸Liquidity & coverage · 5 ratios | ||||||||||
| ▸Leverage · 2 ratios | ||||||||||
| ▸Working capital · 5 ratios | ||||||||||
| ▸Capital allocation · 2 ratios | ||||||||||
| ▸Per share · 6 ratios | ||||||||||
| ▸Other · 1 ratios | ||||||||||
The five drivers multiply to 0.5% vs reported ROE 0.5%. High ROE from margin and turnover is earned; from the equity multiplier it is borrowed.
| Line | 2020↗ | 2021↗ | 2022↗ | 2023↗ | 2024↗ | 2025↗ | 2026↗ |
|---|---|---|---|---|---|---|---|
| Revenue | $138.2M | $204.3M | $273.9M | $408.3M | $476.5M | $540.7M | $594.8M |
| YoY % | +47.8% | +34.1% | +49.1% | +16.7% | +13.5% | +10.0% | |
| Cost of Revenue | $64.1M | $88.1M | $111.4M | $169.6M | $191.5M | $215.9M | $234.6M |
| YoY % | +37.6% | +26.4% | +52.2% | +12.9% | +12.7% | +8.7% | |
| Gross Profit | $74.1M | $116.2M | $162.5M | $238.7M | $285.1M | $324.8M | $360.2M |
| YoY % | +56.7% | +39.9% | +46.9% | +19.4% | +13.9% | +10.9% | |
| R&D Expense | $35.3M | $58.3M | $79.4M | $121.6M | $117.3M | $129.4M | $127.5M |
| YoY % | +65.0% | +36.2% | +53.2% | -3.5% | +10.3% | -1.5% | |
| Selling & Marketing Expense | $44.4M | $59.7M | $82.9M | $127.7M | $130.5M | $123.2M | $136.6M |
| YoY % | +34.4% | +38.8% | +54.0% | +2.3% | -5.6% | +10.8% | |
| SG&A Expense | $22.5M | $40.8M | $71.5M | $83.5M | $76.7M | $90.3M | $92.4M |
| YoY % | +80.9% | +75.5% | +16.7% | -8.1% | +17.6% | +2.3% | |
| Total Operating Expenses | $102.3M | $158.8M | $233.8M | $332.7M | $324.6M | $342.9M | $356.4M |
| YoY % | +55.2% | +47.3% | +42.3% | -2.4% | +5.6% | +3.9% | |
| Operating Income | -$28.2M | -$42.6M | -$71.4M | -$94.0M | -$39.5M | -$18.1M | $3.7M |
| Interest Expense | — | — | — | $2.8M | $4.1M | $8.8M | $17.5M |
| YoY % | +47.3% | +111.9% | +99.2% | ||||
| Interest & Investment Income | $988,000 | $361,000 | $194,000 | $403,000 | $2.6M | $1.8M | $1.4M |
| YoY % | -63.5% | -46.3% | +107.7% | +537.0% | -31.4% | -18.9% | |
| Other Non-Operating Income | $33,000 | $1.7M | -$1.3M | -$1.4M | -$856,000 | -$10.4M | $19.0M |
| YoY % | +5030.3% | ||||||
| Pretax Income | -$27.1M | -$40.7M | -$74.0M | -$97.8M | -$41.9M | -$35.6M | $6.7M |
| Income Tax | $586,000 | $586,000 | -$23.8M | $4.1M | $1.6M | -$2.5M | -$3.0M |
| YoY % | 0.0% | -60.9% | |||||
| Net Income (incl. NCI) | -$27.7M | -$41.3M | -$50.1M | -$101.8M | -$43.5M | -$33.0M | $9.7M |
| Minority Interest (P&L) | -$141,000 | -$1.1M | -$1.6M | -$1.1M | -$1.1M | -$472,000 | $141,000 |
| Net Income | -$27.6M | -$40.5M | -$49.4M | -$102.7M | -$42.3M | -$37.9M | $5.2M |
| EPS (Basic) | -$0.35 | -$0.46 | -$0.51 | -$0.93 | -$0.38 | -$0.33 | $0.05 |
| EPS (Diluted) | -$0.35 | -$0.46 | -$0.51 | -$0.93 | -$0.38 | -$0.33 | $0.05 |
| Weighted Avg Shares (Basic) | 78.3M | 87.7M | 96.7M | 110.6M | 112.7M | 115.2M | 112.9M |
| YoY % | +12.0% | +10.3% | +14.4% | +1.9% | +2.2% | -2.0% | |
| Weighted Avg Shares (Diluted) | 78.3M | 87.7M | 96.7M | 110.6M | 112.7M | 115.2M | 114.3M |
| YoY % | +12.0% | +10.3% | +14.4% | +1.9% | +2.2% | -0.7% |
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.
