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 | 1,488.7 | 1,133.5 | 1,045.9 | 788.1 | 451.2 | 161.6 | 15.0 | 19.8 |
Revenue growth | 31.3% | 8.4% | 32.7% | 74.7% | 179.2% | 977.5% | -24.1% | |
Cost of goods sold | 23.2 | 14.3 | 10.1 | 0.0 | 0.0 | 1.3 | 0.0 | 0.0 |
Gross profit | 1,465.5 | 1,119.2 | 1,035.8 | 788.1 | 451.2 | 160.4 | 15.0 | 19.8 |
Gross margin | 98.4% | 98.7% | 99.0% | 100.0% | 100.0% | 99.2% | 100.0% | 100.0% |
Selling, general and administrative | 463.8 | 328.1 | 275.0 | 715.8 | 414.4 | 169.9 | 68.1 | 32.5 |
Research and development | 463.8 | 328.1 | 275.0 | | | 91.8 | 94.3 | 81.5 |
EBITA | 179.3 | 100.3 | 50.4 | 20.7 | 6.8 | -131.4 | -147.4 | -94.2 |
EBITA margin | 12.0% | 8.8% | 4.8% | 2.6% | 1.5% | -81.3% | -982.5% | -476.5% |
Amortization of intangibles | 0.5 | | | | | | | |
EBIT | 178.8 | 100.3 | 50.4 | 20.7 | 6.8 | -131.4 | -147.4 | -94.2 |
EBIT margin | 12.0% | 8.8% | 4.8% | 2.6% | 1.5% | -81.3% | -982.5% | -476.5% |
Pre-tax income | 213.9 | 101.4 | 106.7 | 46.5 | 21.8 | -142.5 | -141.1 | -88.9 |
Income taxes | 59.4 | 11.8 | -300.6 | 9.5 | 0.7 | 0.0 | 0.0 | 0.0 |
Tax rate | 27.8% | 11.6% | | 20.4% | 3.2% | 0.0% | 0.0% | 0.0% |
Net income | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | -142.5 | -141.1 | -88.9 |
Net margin | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | -88.2% | -940.6% | -449.8% |
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Diluted EPS | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | ($1.62) | ($1.63) | ($1.05) |
Shares outstanding (diluted) | 98.9 | 97.9 | 97.8 | 95.7 | 95.4 | 88.1 | 86.7 | 84.5 |
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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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