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 |
Revenues | 15,567.0 | 8,021.0 | 2,583.0 | 4,741.0 | 1,838.1 | 194.3 |
Revenue growth | 94.1% | 210.5% | -45.5% | 157.9% | 845.8% | |
Cost of goods sold | 14,900.0 | 7,291.0 | 2,363.0 | 4,440.0 | 1,704.6 | 128.0 |
Gross profit | 667.0 | 730.0 | 220.0 | 301.0 | 133.4 | 66.3 |
Gross margin | 4.3% | 9.1% | 8.5% | 6.3% | 7.3% | 34.1% |
Sales and marketing | 1,006.0 | 544.0 | 189.0 | 384.0 | 196.3 | 74.9 |
Research and development | 169.0 | 134.0 | 56.0 | 51.0 | 28.5 | |
General and administrative | 346.0 | 620.0 | 132.0 | 114.0 | 72.4 | |
EBITA | -845.0 | -564.0 | -153.0 | -245.0 | -163.1 | -61.6 |
EBITA margin | -5.4% | -7.0% | -5.9% | -5.2% | -8.9% | -31.7% |
Amortization of intangibles | 9.0 | 4.0 | 4.0 | 3.0 | 0.6 | |
EBIT | -854.0 | -568.0 | -157.0 | -248.0 | -163.7 | -61.6 |
EBIT margin | -5.5% | -7.1% | -6.1% | -5.2% | -8.9% | -31.7% |
Pre-tax income | -1,351.0 | -661.0 | -253.0 | -339.0 | -239.6 | -84.8 |
Income taxes | 2.0 | 1.0 | 0.0 | 0.0 | 0.4 | 0.0 |
Tax rate | | | 0.0% | 0.0% | | 0.0% |
Net income | -1,353.0 | -662.0 | -253.0 | -341.0 | -241.3 | -84.8 |
Net margin | -8.7% | -8.3% | -9.8% | -7.2% | -13.1% | -43.6% |
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Diluted EPS | ($2.16) | ($1.12) | ($2.31) | ($4.26) | ($3.07) | ($2.12) |
Shares outstanding (diluted) | 627.1 | 592.6 | 109.3 | 80.0 | 78.6 | 39.9 |
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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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