N 
320.39
+3.13%
Close of 9 Nov 2026, in USD
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At a glance
Figures in USD, from our data supplier.
Revenue
$2.31bn
FY2016FY2025
Net income
−$208.2m
FY2016FY2025
Free cash flow
$109.1m
FY2016FY2025
Shareholders' equity
$1.71bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.31bn | $1.70bn | $1.08bn | $820.2m | $625.5m | $391.0m | $302.3m | $257.7m | $210.9m | $217.1m |
| Gross profit | $1.50bn | $1.02bn | $492.7m | $364.0m | $307.1m | $187.4m | $126.9m | $91.6m | $71.3m | $81.5m |
| Research and development | $624.1m | $404.1m | $320.7m | $316.4m | $264.2m | $100.0m | $51.4m | $51.4m | $50.1m | $41.9m |
| Operating income | −$309.9m | −$222.3m | −$446.2m | −$541.0m | −$462.8m | −$222.1m | −$116.3m | −$117.4m | −$134.0m | −$96.5m |
| Net income | −$208.2m | −$190.4m | −$434.8m | −$547.8m | −$471.7m | −$229.7m | −$124.8m | −$128.2m | −$136.3m | −$95.8m |
| Diluted earnings per share | -1.52 | -1.53 | -3.64 | -5.57 | -5.10 | -2.84 | -1.59 | -2.04 | -2.52 | -1.82 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | $2.51bn | $1.66bn | $1.44bn | $1.39bn | $1.24bn | $932.2m | $582.7m | $268.2m | $214.6m | $210.7m |
| Cash and short-term investments | $1.08bn | $968.3m | $879.0m | $898.4m | $914.3m | $737.3m | $441.0m | $153.9m | $118.9m | $146.1m |
| Total liabilities | $795.6m | $465.3m | $676.4m | $688.7m | $583.2m | $445.9m | $303.9m | $236.0m | $189.2m | $104.2m |
| Debt | $95.9m | $80.4m | $363.3m | $362.0m | $330.4m | $252.5m | $123.8m | $123.5m | $123.2m | $49.6m |
| Shareholders' equity | $1.71bn | $1.20bn | $765.3m | $705.7m | $653.3m | $486.2m | $278.7m | $32.2m | $25.4m | $106.5m |
| Shares outstanding | 137m | 125m | 119m | 98m | 93m | 81m | 78m | 63m | 54m | 53m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | $215.3m | $135.7m | −$247.0m | −$431.5m | −$335.2m | −$182.5m | −$63.4m | −$70.6m | −$97.8m | −$74.1m |
| Capital spending | −$106.2m | −$66.4m | −$39.2m | −$47.7m | −$41.0m | −$19.6m | −$5.0m | −$3.9m | −$9.9m | −$23.1m |
| Free cash flow | $109.1m | $69.2m | −$286.2m | −$479.2m | −$376.3m | −$202.1m | −$68.4m | −$74.5m | −$107.7m | −$97.2m |
| Dividends paid | — | — | — | −$30.0m | — | −$7.1m | — | — | — | −$2.6m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $752.8m | $696.6m | $665.5m | $592.2m | $546.6m | $501.8m | $476.1m | $439.8m |
| Gross profit | $485.2m | $451.4m | $446.8m | $384.4m | $347.1m | $317.2m | $299.6m | $271.7m |
| Operating income | −$75.8m | −$93.5m | −$22.8m | −$97.6m | −$110.4m | −$79.2m | −$64.7m | −$39.3m |
| Net income | −$67.0m | −$85.1m | $47.3m | −$87.5m | −$100.9m | −$66.9m | −$53.8m | −$31.6m |
| Diluted earnings per share | -0.47 | -0.59 | 0.35 | -0.64 | -0.74 | -0.49 | -0.43 | -0.25 |
| Cash from operations | $54.0m | $40.0m | $73.0m | $59.0m | $37.0m | $44.0m | $52.0m | $51.0m |
| Capital spending | −$63.0m | −$22.0m | −$36.0m | −$34.0m | −$25.0m | −$21.0m | −$18.0m | −$16.0m |
| Free cash flow | −$9.0m | $18.0m | $37.0m | $25.0m | $12.0m | $23.0m | $34.0m | $35.0m |
| Total assets | $2.66bn | $2.61bn | $2.51bn | $1.82bn | $1.76bn | $1.73bn | $1.66bn | $1.59bn |
| Cash and short-term investments | $1.09bn | $1.09bn | $1.08bn | $1.04bn | $1.02bn | $991.6m | $968.3m | $922.3m |
| Debt | $95.4m | $95.1m | $95.9m | $94.3m | $93.4m | $92.5m | $90.5m | $376.8m |
| Shareholders' equity | $1.82bn | $1.77bn | $1.71bn | $1.25bn | $1.25bn | $1.24bn | $1.20bn | $878.5m |
Financial ratios
Data as of 22 Sept 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 64.8% | 60.3% | 45.5% | 44.4% | 49.1% | 47.9% |
| Operating margin | -13.4% | -13.1% | -41.2% | -66.0% | -74.0% | -56.8% |
| Net margin | -9.0% | -11.2% | -40.2% | -66.8% | -75.4% | -58.8% |
| Return on equity | -12.2% | -15.9% | -56.8% | -77.6% | -72.2% | -47.2% |
| Return on assets | -8.3% | -11.5% | -30.2% | -39.3% | -38.1% | -24.6% |
| Free cash flow yield | 0.6% | 0.4% | -0.5% | -1.1% | -0.9% | -0.5% |
| Revenue growth | 35.9% | 56.7% | 32.0% | 31.1% | 60.0% | 29.3% |
| Earnings growth | 9.3% | -56.2% | -20.6% | 16.1% | 105.3% | 84.0% |
| Current ratio | 3.39x | 4.00x | 4.10x | 3.90x | 4.99x | 4.33x |
| Debt to equity | 0.06x | 0.08x | 0.49x | 0.52x | 0.51x | 0.53x |
| Equity ratio | 68.3% | 72.0% | 53.1% | 50.6% | 52.8% | 52.2% |
| Interest coverage | -76.16x | -20.80x | -35.31x | -58.06x | -55.72x | -14.73x |
| R&D as a share of sales | 27.1% | 23.8% | 29.6% | 38.6% | 42.2% | 25.6% |
| Buybacks as a share of market value | -9.6% | -4.5% | -21.2% | -6.3% | -14.4% | -3.3% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 41.1% | 42.6% | 28.3% |
| Operating income | -17.0% | 6.9% | 17.9% |
| Net income | -27.6% | -2.0% | 11.5% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 62.9% | 57.2% | 55.9% | 53.3% |
| Operating margin | -13.3% | -25.7% | -31.8% | -33.7% |
| Net margin | -10.0% | -23.4% | -30.1% | -32.6% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -150.5 | -103.7 | -17.2 | -7.2 | -18.3 | -35.0 | -21.1 | -6.8 | -3.6 | -6.5 |
| Price to sales | 13.6 | 11.6 | 6.9 | 4.8 | 13.8 | 20.6 | 8.7 | 3.4 | 2.3 | 2.9 |
Market value over time
31 Oct 2016 to 21 Sept 2026, in USD
$441.0m$53.10bn
Share price return
Finished calendar years
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Return | 45% | 162% | 44% | -55% | -13% | 185% | 185% | 32% | -18% | 16% |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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