| Market Cap | $1.64B | |
| Enterprise Value | $1.83B | |
| Revenue | $2.18B | +15.6% |
| Gross Profit | $1.02B | — |
| EBITDA | $4.2M | −356.2% |
| Net Income | $65.1M | −403.3% |
| Diluted EPS | $0.34 | −404.7% |
| Free Cash Flow | $114.9M | — |
| Ratio | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Trend · 12y | vs own | vs sector |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ▾Margins | |||||||||||||||
| Gross Margin | — | — | — | — | — | — | — | — | — | — | — | 98.84% | — | 50% | 97% |
| Operating Margin | −1371.21% | −17572.55% | −4920.31% | −111.03% | −114.15% | −185.27% | −104.46% | −65.50% | −57.47% | −21.54% | 11.47% | −31.83% | 79% | 52% | |
| EBITDA Margin | −1333.39% | −17153.79% | −4816.81% | −105.80% | −110.08% | −178.84% | −99.47% | −60.08% | −52.98% | −17.97% | 13.45% | −29.81% | 79% | 50% | |
| NOPAT Margin | — | — | — | −87.72% | −90.18% | −146.36% | −82.52% | −51.74% | −45.40% | −17.02% | 10.34% | −25.15% | 72% | 45% | |
| Net Margin | −1391.71% | −17560.26% | −4930.18% | −32.79% | −120.22% | −187.77% | −102.60% | −59.66% | −75.40% | −43.11% | 12.37% | −32.45% | 88% | 49% | |
| FCF Margin | — | — | −4633.11% | −157.84% | −149.42% | −135.52% | 4.68% | −68.62% | −38.17% | −46.42% | −18.02% | −13.99% | 85% | 51% | |
| FCFF Margin | — | — | — | — | — | — | — | — | — | — | −18.89% | — | — | — | — |
| FCFE Margin | — | — | — | −138.43% | — | −71.02% | 58.58% | −68.62% | −38.17% | — | — | — | — | — | |
| OCF Margin | — | — | −4534.59% | −150.08% | −129.11% | −119.86% | 19.90% | −63.14% | −34.87% | −40.29% | −10.82% | −9.35% | 85% | 53% | |
| Gross Profitability | — | — | — | — | — | — | — | — | — | — | — | 64.86% | — | 50% | 87% |
| Capex Intensity | 260.78% | 271.43% | 98.52% | 7.76% | 20.32% | 15.66% | 15.22% | 5.48% | 3.30% | 6.12% | 7.20% | 4.64% | 13% | 66% | |
| ▸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 16.9% vs reported ROE 19.7%. High ROE from margin and turnover is earned; from the equity multiplier it is borrowed.
| Line | 2014↗ | 2015↗ | 2016↗ | 2017↗ | 2018↗ | 2019↗ | 2020↗ | 2021↗ | 2022↗ | 2023↗ | 2024↗ | 2025↗ |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $9.8M | $1.3M | $5.4M | $154.6M | $301.0M | $380.8M | $540.1M | $701.9M | $933.0M | $1.24B | $1.90B | $2.20B |
| YoY % | -87.2% | +332.6% | +2751.6% | +94.7% | +26.5% | +41.8% | +30.0% | +32.9% | +33.3% | +53.0% | +15.6% | |
| Cost of Revenue | — | — | — | — | — | — | — | — | — | — | — | $25.5M |
| R&D Expense | $94.2M | $146.4M | $188.3M | $166.7M | $401.8M | — | $722.3M | $771.2M | $877.1M | $877.4M | $804.5M | $1.52B |
| YoY % | +55.4% | +28.6% | -11.5% | +141.0% | +6.8% | +13.7% | +0.0% | -8.3% | +89.2% | |||
| SG&A Expense | $49.3M | $75.0M | $83.7M | $122.7M | $207.8M | $284.8M | $317.9M | $282.7M | $451.4M | $481.9M | $557.9M | $491.7M |
| YoY % | +52.2% | +11.6% | +46.5% | +69.3% | +37.1% | +11.6% | -11.1% | +59.7% | +6.7% | +15.8% | -11.9% | |
| Total Operating Expenses | $143.5M | $221.4M | $272.2M | $326.2M | $644.7M | $1.09B | $1.10B | $1.16B | $1.47B | $1.51B | $1.68B | $2.90B |
| YoY % | +54.3% | +22.9% | +19.9% | +97.6% | +68.5% | +1.6% | +5.2% | +26.5% | +2.9% | +11.4% | +72.1% | |
| Operating Income | -$133.8M | -$220.2M | -$266.7M | -$171.6M | -$343.6M | -$705.6M | -$564.2M | -$459.7M | -$536.2M | -$267.8M | $218.1M | -$699.8M |
| Interest Expense | — | $1.4M | $1.9M | $5.8M | $33.7M | $30.7M | $59.9M | $63.5M | -$53.2M | -$22.0M | -$18.4M | -$38.1M |
| YoY % | +38.6% | +206.6% | +481.1% | -9.0% | +95.5% | +6.0% | ||||||
| Interest & Investment Income | — | $890,000 | $507,000 | $1.8M | $6.8M | $7.2M | $3.0M | $354,000 | $16.5M | $36.3M | $30.6M | $30.8M |
| YoY % | -43.0% | +256.8% | +276.5% | +6.3% | -59.0% | -88.1% | +4557.6% | +119.9% | -15.5% | +0.4% | ||
| Other Non-Operating Income | $779,000 | $154,000 | $930,000 | $601,000 | -$656,000 | -$236,000 | $517,000 | -$61.2M | -$28.3M | $33.1M | $42.7M | -$19.3M |
| YoY % | -80.2% | +503.9% | -35.4% | +29.2% | ||||||||
| Equity Method Income | — | — | — | — | — | — | — | — | -$2.6M | -$30.3M | $0 | $0 |
| Pretax Income | — | -$220.0M | -$267.3M | -$48.6M | -$362.6M | -$713.9M | -$553.1M | -$418.9M | -$690.0M | -$520.1M | $260.8M | -$702.2M |
| Income Tax | — | — | — | $2.1M | -$692,000 | $1.2M | $1.1M | -$168,000 | $13.5M | $15.9M | $25.5M | $11.2M |
| YoY % | -11.0% | +17.4% | +60.8% | -56.2% | ||||||||
| Net Income (incl. NCI) | — | — | -$267.3M | -$50.7M | -$361.9M | -$715.1M | -$554.1M | -$418.8M | -$703.5M | -$536.0M | $235.2M | -$713.4M |
| Net Income | -$135.8M | -$220.0M | -$267.3M | -$50.7M | -$361.9M | -$715.1M | -$554.1M | -$418.8M | -$703.5M | -$536.0M | $235.2M | -$713.4M |
| Net Income to Common | — | — | — | — | — | — | — | — | — | -$536.0M | $235.2M | -$713.4M |
| EPS (Basic) | — | — | — | — | — | — | -$7.11 | -$5.15 | -$8.03 | -$5.80 | $2.47 | -$7.13 |
| EPS (Diluted) | — | — | — | — | — | — | -$7.11 | -$5.15 | -$8.03 | -$5.80 | $2.34 | -$7.13 |
| Weighted Avg Shares (Basic) | 40.0M | 42.3M | 48.7M | 58.8M | 66.3M | 73.6M | 78.0M | 81.3M | 87.6M | 92.4M | 95.1M | 100.1M |
| YoY % | +5.7% | +15.2% | +20.8% | +12.6% | +11.1% | +5.9% | +4.2% | +7.7% | +5.5% | +2.9% | +5.3% | |
| Weighted Avg Shares (Diluted) | — | — | — | 58.8M | 66.3M | 73.6M | 78.0M | 81.3M | 87.6M | 92.4M | 107.9M | 100.1M |
| YoY % | +12.6% | +11.1% | +5.9% | +4.2% | +7.7% | +5.5% | +16.8% | -7.2% |
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.
