Financial Summary (All financials)
In millions, except per share items | Dec-31-21 | Dec-31-20 | Dec-31-19 | Dec-31-18 | Dec-31-17 | Dec-31-16 | Dec-31-15 | Dec-31-14 |
Revenues | 1,574.4 | 2,175.5 | 916.7 | 654.7 | 482.3 | 418.1 | 336.8 | 286.8 |
Revenue growth | -27.6% | 137.3% | 40.0% | 35.8% | 15.3% | 24.2% | 17.5% | 6.5% |
Cost of goods sold | 311.6 | 217.7 | 44.0 | 88.3 | 54.1 | 42.3 | 24.5 | 17.5 |
Gross profit | 1,262.8 | 1,957.8 | 872.8 | 566.4 | 428.1 | 375.8 | 312.3 | 269.2 |
Gross margin | 80.2% | 90.0% | 95.2% | 86.5% | 88.8% | 89.9% | 92.7% | 93.9% |
Selling, general and administrative | 716.2 | 533.8 | 373.9 | 261.1 | 167.2 | 139.2 | 125.8 | 104.3 |
Research and development | 1,228.7 | 827.1 | 719.4 | 565.3 | 456.7 | 379.3 | 294.5 | 230.7 |
EBITA | -659.0 | 613.2 | -220.5 | -259.3 | -195.8 | -142.7 | -120.2 | -76.6 |
EBITA margin | -41.9% | 28.2% | -24.1% | -39.6% | -40.6% | -34.1% | -35.7% | -26.7% |
Amortization of intangibles | 23.1 | 16.3 | 0.0 | 0.7 | | | 0.8 | 0.8 |
EBIT | -682.1 | 596.9 | -220.5 | -260.0 | -195.8 | -142.7 | -121.0 | -77.4 |
EBIT margin | -43.3% | 27.4% | -24.1% | -39.7% | -40.6% | -34.1% | -35.9% | -27.0% |
Pre-tax income | -675.7 | 615.7 | -158.7 | -246.3 | -158.9 | -140.1 | -120.5 | -76.1 |
Income taxes | -1.2 | 2.0 | 0.0 | -23.7 | -33.4 | 0.0 | 0.0 | 0.0 |
Tax rate | 0.2% | 0.3% | 0.0% | 9.6% | 21.0% | 0.0% | 0.0% | 0.0% |
Net income | -674.5 | 613.7 | -158.7 | -222.7 | -125.5 | -140.1 | -120.5 | -76.1 |
Net margin | -42.8% | 28.2% | -17.3% | -34.0% | -26.0% | -33.5% | -35.8% | -26.6% |
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Diluted EPS | ($3.70) | $3.37 | ($0.96) | ($1.41) | ($0.88) | ($1.00) | ($0.93) | ($0.62) |
Shares outstanding (diluted) | 182.0 | 182.3 | 165.5 | 157.7 | 143.2 | 140.7 | 129.2 | 123.4 |
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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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