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 | 99.8 | 75.4 | 65.1 | 63.0 | 27.9 | 11.7 | 174.8 | 0.0 |
Revenue growth | 32.2% | 15.8% | 3.3% | 126.3% | 137.2% | -93.3% | | -100.0% |
Cost of goods sold | 16.0 | 16.8 | 15.1 | 20.1 | 19.4 | 17.2 | 17.1 | 64.7 |
Gross profit | 83.8 | 58.6 | 50.1 | 43.0 | 8.5 | -5.5 | 157.6 | -64.7 |
Gross margin | 84.0% | 77.7% | 76.8% | 68.1% | 30.4% | -46.7% | 90.2% | |
Selling, general and administrative | | | | 74.7 | 79.7 | 75.0 | 46.9 | 41.0 |
Sales and marketing | 53.8 | 45.5 | 34.4 | | | | | |
Research and development | 19.7 | 12.3 | 6.2 | 6.9 | 8.7 | 14.1 | 14.9 | 29.7 |
General and administrative | 37.7 | 31.9 | 24.7 | | | | | |
EBIT | -64.1 | -46.9 | -32.8 | -44.6 | -76.6 | -108.0 | 68.5 | -204.2 |
EBIT margin | -64.3% | -62.2% | -50.3% | -70.7% | -274.9% | -919.4% | 39.2% | |
Pre-tax income | -87.4 | -80.9 | -57.5 | -51.9 | -86.7 | -117.3 | 125.7 | -368.4 |
Income taxes | 0.0 | 0.0 | -0.2 | 0.0 | 0.2 | 0.1 | 0.0 | 0.0 |
Tax rate | 0.0% | 0.0% | 0.4% | 0.0% | | | 0.0% | 0.0% |
Net income | -87.4 | -80.9 | -57.2 | -51.9 | -87.0 | -117.3 | 125.7 | -368.4 |
Net margin | -87.6% | -107.3% | -87.9% | -82.3% | -312.2% | -999.0% | 71.9% | |
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Diluted EPS | ($0.34) | ($0.32) | ($0.26) | ($0.27) | ($0.60) | ($1.13) | $1.36 | ($4.54) |
Shares outstanding (diluted) | 257.1 | 249.2 | 222.6 | 195.6 | 144.1 | 104.2 | 92.1 | 81.2 |
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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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