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 | 801.2 | 702.8 | 498.8 | 362.3 | 183.9 | 107.6 | 84.2 | 72.9 |
Revenue growth | 14.0% | 40.9% | 37.7% | 97.0% | 70.9% | 27.7% | 15.6% | 46.5% |
Cost of goods sold | 388.2 | 326.6 | 238.3 | 168.1 | 94.0 | 63.5 | 60.7 | 46.3 |
Gross profit | 413.0 | 376.2 | 260.5 | 194.2 | 89.8 | 44.1 | 23.6 | 26.6 |
Gross margin | 51.5% | 53.5% | 52.2% | 53.6% | 48.9% | 41.0% | 28.0% | 36.5% |
Selling, general and administrative | 335.7 | 261.5 | 204.9 | 165.7 | 105.2 | 86.4 | 82.8 | 78.6 |
Research and development | 139.1 | 92.1 | 63.6 | 45.2 | 29.2 | 20.7 | 18.8 | 17.0 |
EBITA | -52.4 | 26.2 | 10.3 | -16.4 | -44.3 | -62.6 | -77.8 | -68.7 |
EBITA margin | -6.5% | 3.7% | 2.1% | -4.5% | -24.1% | -58.2% | -92.3% | -94.3% |
Amortization of intangibles | 2.0 | 2.2 | 1.2 | 0.3 | 0.3 | 0.3 | 0.3 | 0.3 |
EBIT | -54.4 | 24.0 | 9.1 | -16.7 | -44.6 | -62.9 | -78.1 | -69.0 |
EBIT margin | -6.8% | 3.4% | 1.8% | -4.6% | -24.3% | -58.5% | -92.6% | -94.7% |
Pre-tax income | -92.9 | 15.9 | -36.3 | -24.6 | -122.6 | -73.0 | -83.5 | -72.4 |
Income taxes | 1.7 | 0.3 | -1.9 | 0.1 | 0.1 | 0.0 | 0.0 | 0.0 |
Tax rate | | 2.1% | 5.2% | | | | 0.0% | |
Net income | -94.6 | 15.6 | -34.4 | -24.8 | -122.6 | -73.0 | -83.4 | -72.4 |
Net margin | -11.8% | 2.2% | -6.9% | -6.8% | -66.7% | -67.9% | -99.0% | -99.4% |
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Diluted EPS | ($1.47) | $0.24 | ($0.56) | ($0.42) | ($2.55) | ($12.86) | ($27.30) | ($25.04) |
Shares outstanding (diluted) | 64.1 | 64.3 | 61.0 | 58.5 | 48.1 | 5.7 | 3.1 | 2.9 |
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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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