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 | 2,566.1 | 2,329.1 | 1,725.6 | 818.4 | 603.7 | 441.2 | 365.0 | 273.5 |
Revenue growth | 10.2% | 35.0% | 110.9% | 35.6% | 36.8% | 20.9% | 33.4% | 39.8% |
Cost of goods sold | 744.6 | 654.5 | 464.7 | 271.0 | 190.8 | 151.0 | 123.3 | 97.0 |
Gross profit | 1,821.5 | 1,674.6 | 1,260.9 | 547.3 | 412.9 | 290.2 | 241.6 | 176.5 |
Gross margin | 71.0% | 71.9% | 73.1% | 66.9% | 68.4% | 65.8% | 66.2% | 64.5% |
Sales and marketing | 710.4 | 654.8 | 500.8 | 215.6 | 158.0 | 109.1 | 82.2 | 66.8 |
Research and development | 412.4 | 271.5 | 180.1 | 121.9 | 97.2 | 74.6 | 55.1 | 42.7 |
General and administrative | 312.3 | 282.5 | 156.0 | 121.1 | 82.9 | 91.5 | 86.2 | 68.9 |
EBITA | 386.5 | 494.1 | 439.2 | 98.4 | 79.1 | 18.5 | 21.4 | 0.3 |
EBITA margin | 15.1% | 21.2% | 25.5% | 12.0% | 13.1% | 4.2% | 5.9% | 0.1% |
Amortization of intangibles | | 28.4 | 15.2 | 9.6 | 4.3 | 3.4 | 3.3 | 2.2 |
EBIT | 386.5 | 465.7 | 424.0 | 88.8 | 74.8 | 15.1 | 18.1 | -1.9 |
EBIT margin | 15.1% | 20.0% | 24.6% | 10.8% | 12.4% | 3.4% | 5.0% | -0.7% |
Pre-tax income | -662.0 | 471.7 | 365.7 | 80.6 | 55.1 | 32.3 | -2.9 | -28.0 |
Income taxes | 32.3 | -21.9 | 16.5 | -15.2 | -22.4 | -49.5 | 27.0 | 26.1 |
Tax rate | | | 4.5% | | | | | |
Net income | -694.3 | 493.5 | 349.2 | 95.9 | 77.5 | 81.8 | -29.9 | -54.1 |
Net margin | -27.1% | 21.2% | 20.2% | 11.7% | 12.8% | 18.5% | -8.2% | -19.8% |
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Diluted EPS | ($5.48) | $3.36 | $2.56 | $0.76 | $0.61 | $0.67 | ($0.26) | ($0.59) |
Shares outstanding (diluted) | 126.8 | 146.7 | 136.4 | 125.7 | 127.1 | 122.3 | 113.6 | 91.1 |
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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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