In millions, except per share items | Dec-31-22 | Dec-31-21 | Dec-31-20 | Dec-31-19 | Dec-31-18 | Dec-31-17 | Dec-31-16 | Dec-31-15 |
| 10-K | 10-K | 10-K | 10-K | 10-K | 10-K | 10-K | 10-K |
Revenues: |
Product | | | | | 60.9 | 43.6 | | |
Government Contract | | | | | 15.1 | 7.8 | | |
Total revenues [+] | 188.3 | 159.5 | 114.2 | 93.8 | 76.1 | 51.3 | 37.2 | 34.2 |
Products | | | | | | | | 34.2 |
Revenue growth [+] | 18.1% | 39.6% | 21.8% | 23.3% | 48.2% | 38.0% | 8.6% | -6.0% |
Product | | | | | 39.8% | | | |
Government Contract | | | | | 95.2% | | | |
Cost of goods sold | 0.0 | 0.0 | 0.0 | 0.0 | 31.6 | 22.5 | 20.3 | 23.5 |
Gross profit | 188.3 | 159.5 | 114.2 | 93.8 | 44.4 | 28.8 | 16.9 | 10.8 |
Gross margin | 100.0% | 100.0% | 100.0% | 100.0% | 58.4% | 56.1% | 45.4% | 31.4% |
Selling, general and administrative | 147.4 | 145.0 | 131.4 | 126.6 | 56.8 | 52.6 | 49.0 | 46.0 |
Research and development | 64.1 | 63.7 | 64.4 | 60.4 | 42.6 | 33.7 | 31.3 | 25.6 |
Other operating expenses | 27.4 | 10.0 | -20.8 | -17.4 | | | -2.1 | 0.2 |
EBITDA [+] | -48.1 | -56.7 | -58.6 | -73.5 | -53.5 | -55.7 | -59.5 | -59.4 |
EBITDA growth | -15.1% | -3.3% | -20.3% | 37.3% | -3.9% | -6.3% | 0.2% | 37.8% |
EBITDA margin | -25.5% | -35.5% | -51.3% | -78.4% | -70.4% | -108.6% | -160.0% | -173.5% |
Depreciation and amortization | 2.5 | 2.5 | 2.2 | 2.2 | 1.4 | 1.8 | 1.8 | 1.5 |
EBITA | -50.6 | -59.2 | -60.8 | -75.7 | -55.0 | -57.5 | -61.3 | -60.9 |
EBITA margin | -26.9% | -37.1% | -53.2% | -80.8% | -72.3% | -112.1% | -164.9% | -177.9% |
Amortization of intangibles | | | | | | | | 0.2 |
EBIT [+] | -50.6 | -59.2 | -60.8 | -75.7 | -55.0 | -57.5 | -61.3 | -61.1 |
EBIT growth | -14.5% | -2.7% | -19.7% | 37.7% | -4.4% | -6.1% | 0.4% | 37.2% |
EBIT margin | -26.9% | -37.1% | -53.2% | -80.8% | -72.3% | -112.1% | -164.9% | -178.5% |
Non-recurring items [+] | | | | | | | 0.2 | |
Asset impairment | | | | | | | 0.2 | |
Interest expense | | | | | 4.0 | 3.0 | 2.4 | 1.7 |
Interest expense | 5.8 | 4.9 | 3.7 | 6.1 | 4.0 | 3.0 | 2.4 | 1.7 |
Other income (expense), net [+] | 14.1 | 10.0 | 5.0 | 10.8 | 1.7 | 3.9 | 1.2 | 3.2 |
Gain (loss) on foreign currency transactions | | | | | -0.1 | 0.0 | 0.0 | -0.4 |
Change in fair value of warrants | | | | | | | | 3.6 |
Other | | | | | 1.7 | 3.9 | 1.1 | 0.1 |
Pre-tax income | -42.3 | -54.1 | -59.6 | -71.0 | -57.3 | -56.7 | -62.7 | -59.5 |
Income taxes | 0.5 | 0.3 | 0.3 | 0.3 | 0.2 | 3.9 | 0.2 | -3.7 |
Tax rate | | | | | | | | 6.2% |
Net income | -42.8 | -54.4 | -59.9 | -71.2 | -57.6 | -60.6 | -62.9 | -55.9 |
Net margin | -22.7% | -34.1% | -52.4% | -76.0% | -75.7% | -118.0% | -169.2% | -163.2% |
|
Basic EPS [+] | ($0.24) | ($0.32) | ($0.37) | ($0.51) | ($0.44) | ($0.56) | ($0.62) | ($0.58) |
Growth | -23.7% | -13.0% | -28.3% | 16.5% | -21.9% | -9.4% | 6.2% | 12.2% |
Diluted EPS [+] | ($0.24) | ($0.32) | ($0.37) | ($0.51) | ($0.44) | ($0.56) | ($0.62) | ($0.58) |
Growth | -23.7% | -13.0% | -28.3% | 16.5% | -21.9% | -9.4% | 7.2% | 13.9% |
|
Shares outstanding (basic) [+] | 176.5 | 171.3 | 163.9 | 139.8 | 131.7 | 108.2 | 101.8 | 96.1 |
Growth | 3.1% | 4.5% | 17.2% | 6.2% | 21.7% | 6.3% | 6.0% | 28.5% |
Shares outstanding (diluted) [+] | 176.5 | 171.3 | 163.9 | 139.8 | 131.7 | 108.2 | 101.8 | 96.9 |
Growth | 3.1% | 4.5% | 17.2% | 6.2% | 21.7% | 6.3% | 5.1% | 26.6% |
|
EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges. |