Financial Summary (All financials)
In millions, except per share items | Dec-31-22 | Dec-31-21 | Dec-31-20 | Dec-31-19 | Dec-31-18 | Dec-31-17 |
Revenues | 454.3 | 357.6 | 206.1 | 156.4 | 100.2 | 53.5 |
Revenue growth | 27.0% | 73.5% | 31.8% | 56.1% | 87.4% | |
Cost of goods sold | 73.5 | 53.6 | 30.8 | 20.2 | 15.1 | 9.1 |
Gross profit | 380.8 | 304.0 | 175.3 | 136.1 | 85.1 | 44.4 |
Gross margin | 83.8% | 85.0% | 85.0% | 87.1% | 85.0% | 83.1% |
Sales and marketing | 160.6 | 119.4 | 86.5 | 66.8 | 44.6 | 28.5 |
Research and development | 12.4 | 9.5 | 9.5 | 5.7 | 4.2 | 2.6 |
General and administrative | 9.9 | 8.4 | 6.4 | 4.0 | 4.8 | 4.4 |
EBIT | 197.9 | 167.5 | 72.8 | 59.6 | 23.5 | 9.0 |
EBIT margin | 43.6% | 46.8% | 35.3% | 38.1% | 23.5% | 16.7% |
Pre-tax income | 201.5 | 168.0 | 76.1 | 62.0 | 23.6 | 9.8 |
Income taxes | 39.9 | 2.9 | 1.1 | 0.9 | 1.3 | 1.0 |
Tax rate | 19.8% | 1.7% | 1.5% | 1.4% | 5.3% | 10.0% |
Net income | 161.5 | 165.0 | 75.0 | 61.1 | 22.4 | 8.8 |
Net margin | 35.6% | 46.1% | 36.4% | 39.1% | 22.3% | 16.5% |
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Diluted EPS | $1.89 | $1.92 | $0.89 | $0.80 | $0.64 | $0.30 |
Shares outstanding (diluted) | 85.4 | 86.0 | 84.2 | 76.1 | 35.0 | 29.7 |
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EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges. |
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