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 | 7.5 | 6.0 | 2.0 | 0.0 | 17.8 | 0.0 | 0.4 | 9.3 |
Revenue growth | 25.0% | 200.0% | | -100.0% | | -100.0% | -95.7% | -25.0% |
Cost of goods sold | 1.0 | 0.7 | 0.1 | 0.0 | 1.0 | 0.0 | 0.2 | 1.6 |
Gross profit | 6.5 | 5.3 | 1.9 | 0.0 | 16.8 | 0.0 | 0.2 | 7.6 |
Gross margin | 87.0% | 88.7% | 97.0% | | 94.2% | | 44.3% | 82.4% |
Selling, general and administrative | 11.3 | 11.7 | 10.7 | 9.1 | | 8.8 | 8.5 | 7.3 |
Sales and marketing | | | | | 0.3 | | | |
Research and development | 30.6 | 28.7 | 22.8 | 19.8 | 30.3 | 28.6 | 24.5 | 21.2 |
General and administrative | 10.3 | 10.9 | 9.8 | 8.4 | 8.0 | 7.6 | 7.3 | 6.0 |
EBIT | -35.4 | -35.1 | -31.5 | -28.9 | -23.2 | -37.4 | -32.6 | -20.9 |
EBIT margin | -471.7% | -584.6% | -1574.8% | | -130.5% | | -8145.8% | -225.5% |
Pre-tax income | -33.6 | -34.2 | -29.7 | -28.1 | -22.6 | -37.1 | -31.5 | -19.8 |
Income taxes | 0.1 | 0.0 | 0.0 | -0.7 | 0.0 | 0.0 | 0.0 | 0.4 |
Tax rate | | 0.0% | 0.0% | 2.6% | 0.0% | 0.0% | | |
Net income | -33.7 | -34.2 | -29.7 | -27.3 | -22.6 | -37.1 | -31.5 | -20.2 |
Net margin | -449.3% | -570.1% | -1484.9% | | -127.0% | | -7876.5% | -217.3% |
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Diluted EPS | ($0.39) | ($0.41) | ($0.37) | ($0.43) | ($0.41) | ($0.72) | ($0.62) | ($0.40) |
Shares outstanding (diluted) | 86.6 | 84.2 | 79.6 | 63.6 | 55.3 | 51.2 | 50.9 | 50.4 |
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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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