| Market Cap | $12.20B | |
| Enterprise Value | — | |
| Revenue | $379.9M | +61.2% |
| Gross Profit | $211.6M | +67.5% |
| EBITDA | -$7.7M | — |
| Net Income | -$24.2M | — |
| Diluted EPS | -$1.72 | — |
| Free Cash Flow | $54.3M | — |
| Ratio | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Trend · 8y | vs own | vs sector |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ▾Margins | |||||||||||
| Gross Margin | 42.49% | 47.05% | 49.87% | 63.74% | 64.51% | 57.01% | 51.55% | 53.57% | 56% | 56% | |
| Operating Margin | −9.14% | −5.80% | −7.42% | 15.01% | 5.69% | −74.45% | −56.85% | −20.50% | 31% | 28% | |
| EBITDA Margin | −0.44% | 4.04% | −1.90% | 18.63% | 9.87% | −63.25% | −42.02% | −8.20% | 31% | 31% | |
| NOPAT Margin | −7.22% | −4.58% | −5.86% | 14.97% | 5.67% | −58.81% | −44.91% | −16.20% | 31% | 24% | |
| Net Margin | −10.96% | −7.86% | −8.07% | 14.75% | 8.20% | −55.93% | −46.18% | −13.13% | 31% | 33% | |
| FCF Margin | −3.94% | 7.08% | 9.04% | 12.89% | 2.81% | −0.62% | −6.43% | 10.75% | 81% | 58% | |
| OCF Margin | −1.23% | 8.78% | 14.29% | 27.00% | 14.02% | 5.59% | 11.44% | 26.68% | 81% | 83% | |
| Gross Profitability | 49.81% | 32.06% | 42.59% | 20.56% | 24.37% | 8.63% | 11.81% | 13.52% | 31% | 22% | |
| Capex Intensity | 2.72% | 1.70% | 5.25% | 14.11% | 11.21% | 6.21% | 17.87% | 15.93% | 81% | 91% | |
| ▸Returns on Capital · 3 ratios | |||||||||||
| ▸DuPont factors (ROE drivers) · 4 ratios | |||||||||||
| ▸Earnings quality · 6 ratios | |||||||||||
| ▸Liquidity & coverage · 8 ratios | |||||||||||
| ▸Leverage · 6 ratios | |||||||||||
| ▸Working capital · 8 ratios | |||||||||||
| ▸Capital allocation · 1 ratios | |||||||||||
| ▸Per share · 5 ratios | |||||||||||
| ▸Other · 1 ratios | |||||||||||
The five drivers multiply to 3.4% vs reported ROE 3.5%. High ROE from margin and turnover is earned; from the equity multiplier it is borrowed.
| Line | 2018↗ | 2019↗ | 2020↗ | 2021↗ | 2022↗ | 2023↗ | 2024↗ | 2025↗ |
|---|---|---|---|---|---|---|---|---|
| Revenue | $85.2M | $84.1M | $116.2M | $218.8M | $283.6M | $144.0M | $202.7M | $326.7M |
| YoY % | -1.3% | +38.2% | +88.4% | +29.6% | -49.2% | +40.8% | +61.2% | |
| Cost of Revenue | $49.0M | $44.5M | $58.2M | $79.3M | $100.6M | $61.9M | $98.2M | $151.7M |
| YoY % | -9.2% | +30.8% | +36.3% | +26.8% | -38.5% | +58.6% | +54.4% | |
| Gross Profit | $36.2M | $39.6M | $57.9M | $139.5M | $183.0M | $82.1M | $104.5M | $175.0M |
| YoY % | +9.3% | +46.4% | +140.7% | +31.2% | -55.1% | +27.3% | +67.5% | |
| R&D Expense | $22.8M | $23.8M | $31.7M | $52.1M | $90.3M | $97.6M | $106.9M | $118.9M |
| YoY % | +4.5% | +33.0% | +64.6% | +73.3% | +8.1% | +9.5% | +11.3% | |
| SG&A Expense | $21.2M | $20.6M | $34.9M | $54.5M | $76.5M | $84.0M | $102.2M | $116.5M |
| YoY % | -2.8% | +69.1% | +56.2% | +40.4% | +9.7% | +21.7% | +14.0% | |
| Total Operating Expenses | $44.0M | $44.4M | $66.5M | $106.6M | $166.8M | $189.3M | $219.7M | $242.0M |
| YoY % | +1.0% | +49.8% | +60.2% | +56.5% | +13.5% | +16.1% | +10.1% | |
| Operating Income | -$7.8M | -$4.9M | -$8.6M | $32.8M | $16.1M | -$107.2M | -$115.2M | -$67.0M |
| YoY % | -50.9% | |||||||
| Interest Expense | $1.5M | $1.7M | $726,000 | — | — | — | — | — |
| YoY % | +13.4% | -57.6% | ||||||
| Other Non-Operating Income | — | — | -$758,000 | -$488,000 | -$97,000 | -$141,000 | -$758,000 | -$157,000 |
| Pretax Income | -$9.4M | -$6.6M | -$9.4M | $32.4M | $23.3M | -$80.4M | -$93.1M | -$42.3M |
| YoY % | -27.9% | |||||||
| Income Tax | -$26,000 | -$8,000 | $1,000 | $78,000 | $82,000 | $152,000 | $486,000 | $598,000 |
| YoY % | +7700.0% | +5.1% | +85.4% | +219.7% | +23.0% | |||
| Net Income (incl. NCI) | -$9.3M | -$6.6M | -$9.4M | $32.3M | $23.3M | -$80.5M | -$93.6M | -$42.9M |
| YoY % | -28.0% | |||||||
| Net Income | -$9.3M | -$6.6M | -$9.4M | $32.3M | $23.3M | -$80.5M | -$93.6M | -$42.9M |
| YoY % | -28.0% | |||||||
| Net Income to Common | — | — | — | — | — | -$80.5M | -$93.6M | -$42.9M |
| EPS (Basic) | — | -$0.63 | -$0.58 | $1.70 | $1.09 | -$3.63 | -$4.05 | -$1.72 |
| YoY % | -35.9% | |||||||
| EPS (Diluted) | — | -$0.63 | -$0.58 | $1.53 | $1.03 | -$3.63 | -$4.05 | -$1.72 |
| YoY % | -32.7% | |||||||
| Weighted Avg Shares (Basic) | — | 10.6M | 16.1M | 19.0M | 21.2M | 22.2M | 23.1M | 25.0M |
| YoY % | +52.2% | +18.3% | +11.8% | +4.4% | +4.2% | +8.0% | ||
| Weighted Avg Shares (Diluted) | — | 10.6M | 16.1M | 21.1M | 22.7M | 22.2M | 23.1M | 25.0M |
| YoY % | +52.2% | +31.6% | +7.2% | -2.1% | +4.2% | +8.0% |
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.
