Financial Summary (All financials)
In millions, except per share items | Dec-31-21 | Dec-31-20 | Dec-31-19 | Dec-31-18 | Dec-31-17 | Dec-31-16 |
Revenues | 108,692.7 | 59,491.9 | 30,141.9 | 13,120.0 | 1,744.1 | 504.9 |
Revenue growth | 82.7% | 97.4% | 129.7% | 652.3% | 245.5% | |
Cost of goods sold | 31,718.1 | 19,278.6 | 6,338.8 | 2,905.2 | 722.8 | 577.9 |
Gross profit | 76,974.6 | 40,213.2 | 23,803.1 | 10,214.7 | 1,021.2 | -73.0 |
Gross margin | 70.8% | 67.6% | 79.0% | 77.9% | 58.6% | -14.5% |
Sales and marketing | 44,801.7 | 41,194.6 | 27,174.2 | 13,441.8 | 1,344.6 | 169.0 |
Research and development | 8,992.6 | 6,891.7 | 3,870.4 | 1,116.1 | 129.2 | 29.4 |
General and administrative | 1,540.8 | 1,507.3 | 1,296.7 | 6,456.6 | 133.2 | 14.8 |
EBITA | 7,727.0 | -8,673.1 | -7,889.8 | -10,308.7 | -595.7 | -286.2 |
EBITA margin | 7.1% | -14.6% | -26.2% | -78.6% | -34.2% | -56.7% |
Amortization of intangibles | 583.4 | 623.5 | 619.7 | 491.1 | | |
EBIT | 7,143.6 | -9,296.7 | -8,509.5 | -10,799.7 | -595.7 | -286.2 |
EBIT margin | 6.6% | -15.6% | -28.2% | -82.3% | -34.2% | -56.7% |
Pre-tax income | 9,702.3 | -7,179.7 | -6,967.6 | -10,217.1 | -525.1 | -292.0 |
Income taxes | 1,933.6 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
Tax rate | 19.9% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
Net income | 7,768.7 | -7,179.7 | -6,967.6 | -10,297.6 | -498.7 | -322.4 |
Net margin | 7.1% | -12.1% | -23.1% | -78.5% | -28.6% | -63.9% |
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Diluted EPS | $1.36 | ($1.51) | ($1.51) | ($3.47) | ($0.28) | ($0.18) |
Shares outstanding (diluted) | 5,713.8 | 4,768.3 | 4,627.3 | 2,968.3 | 1,764.8 | 1,815.2 |
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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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