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 |
| Revenues | 1,579.8 | 1,194.3 | 695.0 | 384.9 | 332.1 |
| Revenue growth | 32.3% | 71.8% | 80.6% | 15.9% | |
| Cost of goods sold | 1,540.3 | 1,117.6 | 634.8 | 340.7 | 379.2 |
| Gross profit | 39.4 | 76.6 | 60.2 | 44.2 | -47.1 |
| Gross margin | 2.5% | 6.4% | 8.7% | 11.5% | -14.2% |
| Sales and marketing | 117.1 | 80.1 | 55.1 | 40.6 | 5.4 |
| Research and development | 57.2 | 33.6 | 21.0 | 14.0 | |
| General and administrative | 183.5 | 113.3 | 64.9 | 28.4 | |
| EBITA | -369.5 | -200.7 | -43.5 | -77.2 | -52.5 |
| EBITA margin | -23.4% | -16.8% | -6.3% | -20.1% | -15.8% |
| Amortization of intangibles | 24.4 | 21.8 | 19.5 | 0.9 | |
| EBIT | -393.9 | -222.5 | -63.0 | -78.1 | -52.5 |
| EBIT margin | -24.9% | -18.6% | -9.1% | -20.3% | -15.8% |
| Pre-tax income | -555.4 | -197.2 | -85.4 | -106.9 | -83.2 |
| Income taxes | 0.2 | 0.1 | 0.0 | 0.0 | 0.0 |
| Tax rate | | | 0.0% | 0.0% | 0.0% |
| Net income | -555.2 | -190.0 | -78.6 | -96.3 | -83.2 |
| Net margin | -35.1% | -15.9% | -11.3% | -25.0% | -25.1% |
| |
| Diluted EPS | ($2.26) | ($0.93) | ($0.48) | ($0.93) | |
| Shares outstanding (diluted) | 245.7 | 204.8 | 162.5 | 103.8 | |
| |
| EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges. |
|