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 | Dec-31-16 | Dec-31-15 |
Revenues | 2,084.3 | 1,767.1 | 1,491.4 | 876.3 | 454.5 | 266.0 | 99.4 | 39.4 |
Revenue growth | 17.9% | 18.5% | 70.2% | 92.8% | 70.9% | 167.7% | 152.0% | 2093.4% |
Cost of goods sold | 574.4 | 458.8 | 354.3 | 216.7 | 116.6 | 78.3 | 45.2 | 24.5 |
Gross profit | 1,509.9 | 1,308.3 | 1,137.1 | 659.6 | 337.8 | 187.7 | 54.2 | 14.9 |
Gross margin | 72.4% | 74.0% | 76.2% | 75.3% | 74.3% | 70.6% | 54.5% | 37.9% |
Selling, general and administrative | | | | | | | | |
Sales and marketing | 846.0 | 861.9 | 589.9 | 385.2 | 249.4 | 153.9 | 112.8 | 82.1 |
Research and development | 393.4 | 385.6 | 554.1 | 139.7 | 67.3 | 42.1 | 33.5 | 33.9 |
General and administrative | 737.3 | 801.3 | 481.4 | 352.5 | 178.0 | 109.0 | 76.9 | 58.0 |
EBITA | -480.1 | -740.5 | -464.6 | -217.7 | -156.9 | -117.3 | -168.8 | -158.9 |
EBITA margin | -23.0% | -41.9% | -31.2% | -24.8% | -34.5% | -44.1% | -169.9% | -403.0% |
Amortization of intangibles | 97.5 | 95.0 | 93.4 | 16.0 | 2.5 | 1.0 | 0.2 | 0.2 |
EBIT | -577.5 | -835.5 | -558.0 | -233.8 | -159.5 | -118.3 | -169.0 | -159.1 |
EBIT margin | -27.7% | -47.3% | -37.4% | -26.7% | -35.1% | -44.5% | -170.1% | -403.3% |
Pre-tax income | -632.6 | -842.5 | -829.1 | -406.4 | -175.1 | -114.6 | -167.2 | -157.8 |
Income taxes | -9.1 | -246.9 | -5.5 | -193.4 | 0.1 | -0.2 | 0.0 | 0.0 |
Tax rate | 1.4% | 29.3% | 0.7% | 47.6% | | 0.2% | 0.0% | 0.0% |
Net income | -623.5 | -595.6 | -823.6 | -213.1 | -175.1 | -114.4 | -167.2 | -157.8 |
Net margin | -29.9% | -33.7% | -55.2% | -24.3% | -38.5% | -43.0% | -168.3% | -400.1% |
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Diluted EPS | ($3.54) | ($3.48) | ($5.45) | ($1.62) | ($1.43) | ($0.99) | ($1.63) | ($1.71) |
Shares outstanding (diluted) | 176.4 | 171.3 | 151.1 | 131.3 | 122.2 | 115.7 | 102.3 | 92.1 |
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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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