| Market Cap | $1.45B | |
| Enterprise Value | $1.54B | |
| Revenue | $97.4M | +13.7% |
| Gross Profit | — | — |
| EBITDA | -$201.8M | — |
| Net Income | -$172.4M | — |
| Diluted EPS | -$1.24 | — |
| Free Cash Flow | -$188.8M | — |
| Ratio | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Trend · 12y | vs own | vs sector |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ▾Margins | |||||||||||||||
| Operating Margin | — | — | 40.40% | −93.44% | −195.48% | 8.82% | −62.59% | 15.91% | −50.11% | −75.80% | −161.47% | −141.35% | 25% | 37% | |
| EBITDA Margin | — | — | 41.74% | −89.04% | −187.47% | 11.56% | −57.87% | 18.63% | −44.77% | −69.22% | −150.51% | −132.98% | 25% | 35% | |
| NOPAT Margin | — | — | 39.53% | −73.82% | −154.43% | 8.72% | −49.45% | 15.91% | −39.59% | −59.88% | −127.56% | −111.67% | 25% | 30% | |
| Net Margin | — | — | 41.39% | −83.39% | −173.41% | 17.15% | −56.51% | 30.04% | −33.53% | −76.24% | −210.53% | −73.20% | 45% | 41% | |
| FCF Margin | — | — | 85.98% | −84.31% | −214.19% | 36.39% | −12.67% | −10.96% | −8.51% | −55.19% | −188.51% | −110.11% | 25% | 32% | |
| OCF Margin | — | — | 87.36% | −72.80% | −196.43% | 41.08% | −4.08% | −6.13% | 14.88% | −44.63% | −182.99% | −107.60% | 25% | 35% | |
| Capex Intensity | — | — | 1.38% | 11.51% | 17.76% | 4.69% | 8.59% | 4.83% | 23.39% | 10.56% | 5.52% | 2.51% | 15% | 47% | |
| ▸Returns on Capital · 6 ratios | |||||||||||||||
| ▸DuPont factors (ROE drivers) · 4 ratios | |||||||||||||||
| ▸Earnings quality · 7 ratios | |||||||||||||||
| ▸Liquidity & coverage · 7 ratios | |||||||||||||||
| ▸Leverage · 8 ratios | |||||||||||||||
| ▸Working capital · 3 ratios | |||||||||||||||
| ▸Capital allocation · 1 ratios | |||||||||||||||
| ▸Per share · 6 ratios | |||||||||||||||
| ▸Other · 1 ratios | |||||||||||||||
The five drivers multiply to 12.3% vs reported ROE 12.7%. 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 | — | — | $109.0M | $46.1M | $40.6M | $156.7M | $122.7M | $275.1M | $164.6M | $174.6M | $110.5M | $125.6M |
| YoY % | -57.7% | -12.0% | +285.9% | -21.7% | +124.2% | -40.2% | +6.1% | -36.7% | +13.7% | |||
| R&D Expense | $18.5M | $34.1M | $51.9M | $71.8M | $97.5M | $118.6M | $169.8M | $192.5M | $199.6M | $253.6M | $227.7M | $239.4M |
| YoY % | +84.4% | +51.9% | +38.4% | +35.8% | +21.6% | +43.2% | +13.4% | +3.7% | +27.1% | -10.2% | +5.2% | |
| SG&A Expense | $7.5M | $12.0M | $13.1M | $17.5M | $22.5M | $24.3M | $29.7M | $38.8M | $47.5M | $53.4M | $61.2M | $63.6M |
| YoY % | +60.3% | +9.6% | +33.5% | +28.4% | +8.1% | +22.2% | +30.8% | +22.3% | +12.4% | +14.7% | +4.0% | |
| Total Operating Expenses | $26.0M | $46.1M | $65.0M | $89.3M | $120.0M | $142.9M | $199.5M | $231.3M | $247.1M | $307.0M | $288.9M | $303.1M |
| YoY % | +77.5% | +41.0% | +37.4% | +34.4% | +19.1% | +39.6% | +16.0% | +6.8% | +24.3% | -5.9% | +4.9% | |
| Operating Income | -$16.5M | -$18.3M | $44.0M | -$43.1M | -$79.4M | $13.8M | -$76.8M | $43.8M | -$82.5M | -$132.4M | -$178.4M | -$177.5M |
| Interest Expense | — | — | — | — | — | — | — | — | $13,000 | $6.2M | $36.6M | $31.9M |
| YoY % | +47415.4% | +493.2% | -12.9% | |||||||||
| Interest & Investment Income | — | — | — | — | — | — | — | $862,000 | $4.8M | $19.3M | $31.9M | $27.5M |
| YoY % | +460.3% | +300.2% | +65.2% | -13.8% | ||||||||
| Other Non-Operating Income | $11,000 | $15,000 | $6,000 | -$7,000 | -$125,000 | -$256,000 | $95,000 | -$1.3M | -$148,000 | -$31,000 | $50,000 | -$73,000 |
| YoY % | +36.4% | -60.0% | ||||||||||
| Equity Method Income | — | — | — | — | — | — | $26.7M | — | — | — | — | — |
| Impairment of Real Estate | — | — | — | — | — | — | — | — | — | $0 | $20.4M | $9.2M |
| YoY % | -55.1% | |||||||||||
| Pretax Income | -$16.4M | -$17.6M | $46.1M | -$38.9M | -$70.4M | $27.2M | -$69.3M | $82.6M | -$54.5M | -$119.6M | -$234.9M | -$89.6M |
| Income Tax | — | — | $991,000 | -$463,000 | $0 | $312,000 | $0 | $0 | $673,000 | $13.7M | $1.6M | $2.5M |
| YoY % | -100.0% | +1930.0% | -88.2% | +54.9% | ||||||||
| Net Income (incl. NCI) | — | -$17.6M | $45.1M | -$38.5M | -$70.4M | $26.9M | -$69.3M | $82.6M | -$55.2M | -$133.3M | -$236.5M | -$92.1M |
| Minority Interest (P&L) | — | — | — | — | — | — | — | $0 | $0 | -$163,000 | -$3.9M | -$214,000 |
| Net Income | -$16.4M | -$17.6M | $45.1M | -$38.5M | -$70.4M | $26.9M | -$69.3M | $82.6M | -$55.2M | -$133.1M | -$232.6M | -$91.9M |
| Net Income to Common | -$16.4M | -$17.6M | $45.1M | -$38.5M | -$70.4M | $26.9M | -$69.3M | $82.6M | -$55.2M | -$133.1M | -$232.6M | -$91.9M |
| EPS (Basic) | -$0.52 | -$0.45 | $1.09 | -$0.82 | -$1.31 | $0.48 | -$1.21 | $1.42 | -$0.93 | -$2.20 | -$3.58 | -$1.24 |
| EPS (Diluted) | -$0.52 | -$0.45 | $1.07 | -$0.82 | -$1.31 | $0.46 | -$1.21 | $1.37 | -$0.93 | -$2.20 | -$3.58 | -$1.24 |
| Weighted Avg Shares (Basic) | 31.4M | 39.0M | 41.3M | 46.8M | 53.9M | 56.5M | 57.2M | 58.4M | 59.7M | 60.5M | 65.0M | 74.2M |
| YoY % | +24.3% | +5.8% | +13.4% | +15.2% | +4.8% | +1.2% | +2.0% | +2.2% | +1.4% | +7.5% | +14.1% | |
| Weighted Avg Shares (Diluted) | 31.4M | 39.0M | 42.4M | 46.8M | 53.9M | 58.5M | 57.2M | 60.5M | 59.7M | 60.5M | 65.0M | 74.2M |
| YoY % | +24.3% | +8.6% | +10.4% | +15.2% | +8.4% | -2.1% | +5.7% | -1.4% | +1.4% | +7.5% | +14.1% |
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.
