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-05-18 | Dec-31-17 | Dec-31-16 |
Revenues | 1,193.5 | 1,031.8 | 872.9 | 1,014.2 | 942.8 | 942.8 | 850.8 | 716.1 |
Revenue growth | 15.7% | 18.2% | -13.9% | 7.6% | 10.8% | | 18.8% | 30.3% |
Cost of goods sold | 105.7 | 78.1 | 57.2 | 62.4 | 57.9 | 57.9 | 70.5 | 60.4 |
Gross profit | 1,087.8 | 953.7 | 815.7 | 951.8 | 884.9 | 884.9 | 780.3 | 655.7 |
Gross margin | 91.1% | 92.4% | 93.4% | 93.8% | 93.9% | 93.9% | 91.7% | 91.6% |
Sales and marketing | 514.9 | 454.2 | 437.1 | 500.4 | 483.3 | 483.3 | 437.4 | 379.9 |
Research and development | 305.6 | 276.5 | 232.6 | 230.4 | 212.3 | 212.3 | 175.8 | 138.5 |
General and administrative | 164.1 | 135.8 | 130.5 | 136.1 | 120.6 | 120.6 | 109.7 | 100.5 |
EBITA | 60.1 | 34.3 | -32.3 | 38.8 | 29.4 | 25.9 | 22.5 | 4.8 |
EBITA margin | 5.0% | 3.3% | -3.7% | 3.8% | 3.1% | 2.7% | 2.6% | 0.7% |
Amortization of intangibles | 1.7 | 2.8 | 2.6 | 3.3 | 3.5 | | 6.6 | 6.8 |
EBIT | 58.4 | 31.5 | -34.9 | 35.5 | 25.9 | 25.9 | 15.9 | -2.0 |
EBIT margin | 4.9% | 3.1% | -4.0% | 3.5% | 2.7% | 2.7% | 1.9% | -0.3% |
Pre-tax income | 66.8 | 33.7 | -35.1 | 49.8 | 40.0 | 40.0 | 184.5 | -0.3 |
Income taxes | 30.4 | -6.0 | -15.7 | 8.9 | -15.3 | -15.3 | 31.5 | 1.4 |
Tax rate | 45.6% | | 44.7% | 17.9% | | | 17.1% | |
Net income | 36.3 | 39.7 | -19.4 | 40.9 | 55.4 | 55.4 | 153.0 | -1.7 |
Net margin | 3.0% | 3.8% | -2.2% | 4.0% | 5.9% | 5.9% | 18.0% | -0.2% |
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Diluted EPS | $0.50 | $0.50 | ($0.27) | $0.52 | $0.62 | $0.62 | $1.76 | ($0.02) |
Shares outstanding (diluted) | 73.4 | 78.6 | 73.0 | 78.0 | 88.7 | 88.7 | 87.2 | 77.2 |
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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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