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 |
Revenues | 12,449.7 | 9,955.2 | 4,375.7 | 2,175.4 | 827.0 | 414.2 | 345.7 |
Revenue growth | 25.1% | 127.5% | 101.1% | 163.1% | 99.7% | 19.8% | |
Cost of goods sold | 7,264.4 | 6,059.5 | 3,026.8 | 1,570.5 | 812.2 | 326.9 | 232.6 |
Gross profit | 5,185.3 | 3,895.7 | 1,348.9 | 604.9 | 14.8 | 87.3 | 113.1 |
Gross margin | 41.6% | 39.1% | 30.8% | 27.8% | 1.8% | 21.1% | 32.7% |
Sales and marketing | 3,269.2 | 3,829.7 | 1,830.9 | 969.5 | 705.0 | 426.0 | 187.4 |
Research and development | 1,376.5 | 831.7 | 353.8 | 156.6 | 67.5 | 29.3 | 20.8 |
General and administrative | 1,437.6 | 987.9 | 599.7 | 385.9 | 240.8 | 137.9 | 112.4 |
EBITA | -1,098.0 | -1,559.7 | -1,290.9 | -889.6 | -968.0 | -486.7 | -203.3 |
EBITA margin | -8.8% | -15.7% | -29.5% | -40.9% | -117.1% | -117.5% | -58.8% |
Amortization of intangibles | 23.4 | 18.4 | 11.7 | 4.8 | 23.8 | 17.6 | 21.6 |
EBIT | -1,121.4 | -1,578.0 | -1,302.6 | -894.5 | -991.8 | -504.3 | -224.9 |
EBIT margin | -9.0% | -15.9% | -29.8% | -41.1% | -119.9% | -121.7% | -65.1% |
Pre-tax income | -1,500.5 | -1,715.2 | -1,483.2 | -1,368.6 | -953.9 | -548.5 | -196.9 |
Income taxes | 168.4 | 332.9 | 141.6 | 85.9 | 4.1 | 10.7 | 8.5 |
Net income | -1,651.4 | -2,046.8 | -1,618.1 | -1,462.8 | -961.2 | -560.5 | -222.9 |
Net margin | -13.3% | -20.6% | -37.0% | -67.2% | -116.2% | -135.3% | -64.5% |
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Diluted EPS | ($2.96) | ($3.84) | ($3.39) | ($3.35) | ($2.84) | ($2.72) | ($1.30) |
Shares outstanding (diluted) | 558.1 | 532.7 | 477.3 | 436.6 | 338.5 | 205.7 | 171.1 |
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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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