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 | 15,002.0 | 6,667.0 | 2,308.0 | 3,038.0 | 3,862.0 | 3,788.0 | 3,203.0 | -251.0 |
Revenue growth | 125.0% | 188.9% | -24.0% | -21.3% | 20.6% | | -1376.1% | -108.0% |
Cost of goods sold | 1,616.0 | 1,170.0 | 813.0 | 720.0 | 785.0 | 5.0 | 671.0 | -592.0 |
Gross profit | 13,386.0 | 5,497.0 | 1,495.0 | 2,318.0 | 3,077.0 | 3,783.0 | 2,532.0 | 341.0 |
Gross margin | 89.2% | 82.5% | 64.8% | 76.3% | 79.7% | 99.9% | 79.1% | -135.9% |
Selling, general and administrative | 439.0 | 270.0 | 176.0 | 228.0 | 298.0 | | 327.0 | 340.0 |
Sales and marketing | | | | | | 2,007.0 | | |
General and administrative | 269.0 | 132.0 | 55.0 | 62.0 | 89.0 | 209.0 | 94.0 | 93.0 |
EBIT | 7,381.0 | 2,724.0 | 16.0 | 299.0 | 990.0 | 1,007.0 | 725.0 | 204.0 |
EBIT margin | 49.2% | 40.9% | 0.7% | 9.8% | 25.6% | 26.6% | 22.6% | -81.3% |
Pre-tax income | 1,900.0 | -25.0 | -2,705.0 | 480.0 | 538.0 | 538.0 | 953.0 | -2,672.0 |
Income taxes | 51.0 | 0.0 | 407.0 | -411.0 | 1.0 | 1.0 | -93.0 | -29.0 |
Tax rate | 2.7% | 0.0% | | | 0.2% | 0.2% | | 1.1% |
Net income | 1,849.0 | -25.0 | -3,112.0 | 891.0 | 535.0 | 535.0 | 815.0 | -2,751.0 |
Net margin | 12.3% | -0.4% | -134.8% | 29.3% | 13.9% | 14.1% | 25.4% | 1096.0% |
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Diluted EPS | $1.66 | ($0.03) | ($5.42) | $1.65 | $0.93 | $0.93 | $1.63 | ($6.32) |
Shares outstanding (diluted) | 1,113.2 | 789.7 | 573.9 | 540.4 | 576.6 | 576.6 | 500.8 | 435.3 |
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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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