All values in $Billions unless noted
| Line Item | FY2016 | FY2017 YoY | FY2018 YoY | FY2019 YoY | FY2020 YoY | FY2021 YoY | FY2022 YoY | FY2023 YoY | FY2024 YoY |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | $696M | $713M +2.4% | $787M +10.5% | $897M +13.9% | $892M -0.5% | $1.13B +26.9% | $1.30B +14.5% | $1.15B -11.5% | $1.11B -3.0% |
| Cost of Revenue | $379M | $394M +4.0% | $415M +5.3% | $460M +10.9% | $479M +4.1% | $577M +20.6% | $707M +22.4% | $650M -8.0% | $641M -1.4% |
| Gross Profit | $314M | $322M +2.6% | $372M +15.6% | $437M +17.3% | $413M -5.4% | $555M +34.2% | $589M +6.2% | $497M -15.6% | $471M -5.2% |
| OPERATING EXPENSES | |||||||||
| Research & Development | $58M | $66M +14.2% | $65M -1.8% | $69M +5.9% | $70M +2.2% | $76M +7.9% | $105M +38.6% | $97M -7.5% | $90M -6.9% |
| Selling, General & Admin | $250M | $250M +0.3% | $263M +5.1% | $290M +10.2% | $308M +6.1% | $389M +26.6% | $486M +24.9% | $435M -10.6% | $380M -12.5% |
| Depreciation & Amort. | $0K | $16M | $15M -6.8% | $17M +13.9% | $18M +6.4% | $20M +9.8% | $23M +13.4% | $27M +18.4% | $35M +27.8% |
| Operating Income (EBIT) | $6M | $6M -11.2% | $44M +671.5% | $78M +76.5% | $36M -54.7% | $90M +151.9% | -$2M -102.6% | -$35M -1401.0% | $337K +101.0% |
| Interest Expense | $5M | $7M +22.6% | $7M +14.3% | $4M -52.2% | $522K -85.4% | $2M +267.2% | $1M -25.0% | $1M +0.0% | $2M +12.9% |
| Pre-Tax Income | $1M | -$796K -170.0% | $37M +4736.3% | $75M +102.6% | $35M -53.2% | $88M +150.2% | -$4M -104.3% | -$36M -865.3% | -$1M +96.5% |
| Income Tax Expense | -$3M | -$21M -742.2% | -$2M +90.2% | $13M +696.1% | -$3M -122.6% | -$12M -316.2% | -$8M +31.6% | $263K +103.2% | $13M +4866.5% |
| Net Income | $603K | $21M +3317.1% | $38M +83.1% | $61M +62.6% | $32M -47.5% | $78M +141.8% | $6M -92.7% | -$20M -460.7% | $13M +161.5% |
| EBITDA | $6M | $22M +238.7% | $59M +171.0% | $96M +60.6% | $54M -43.7% | $110M +103.6% | $20M -81.3% | -$8M -138.4% | $35M +542.8% |
| Stock-Based Comp. | $20M | $22M +12.1% | $29M +32.2% | $34M +17.9% | $45M +31.3% | $53M +18.9% | $68M +28.4% | $55M -19.0% | $39M -28.9% |
| PER SHARE DATA | |||||||||
| EPS (Basic) | $0.02 | $0.55 +3191.6% | $0.96 +74.9% | $1.48 +53.9% | $0.76 -48.9% | $1.79 +136.9% | $0.13 -92.9% | $-0.45 -454.2% | $0.27 +160.4% |
| EPS (Diluted) | $0.02 | $0.55 +3191.6% | $0.96 +74.9% | $1.48 +53.9% | $0.76 -48.9% | $1.79 +136.9% | $0.13 -92.9% | $-0.45 -454.2% | $0.27 +160.4% |
| Shares Outstanding | 36M | 37M +3.7% | 39M +4.7% | 41M +5.7% | 43M +2.7% | 43M +2.1% | 44M +2.1% | 45M +1.8% | 46M +1.8% |
| PROFITABILITY RATIOS | |||||||||
| Gross Margin | 45.1% | 45.2% +0.1pp | 47.3% +2.1pp | 48.7% +1.4pp | 46.3% -2.4pp | 49.0% +2.7pp | 45.4% -3.5pp | 43.3% -2.1pp | 42.3% -1.0pp |
| Operating Margin | 0.9% | 0.8% -0.1pp | 5.6% +4.8pp | 8.7% +3.1pp | 4.0% -4.8pp | 7.9% +3.9pp | -0.2% -8.1pp | -3.0% -2.9pp | 0.0% +3.1pp |
| Net Margin | 0.1% | 2.9% +2.8pp | 4.8% +1.9pp | 6.8% +2.0pp | 3.6% -3.2pp | 6.9% +3.3pp | 0.4% -6.4pp | -1.8% -2.2pp | 1.1% +2.9pp |
| EBITDA Margin | 0.9% | 3.1% +2.1pp | 7.6% +4.5pp | 10.7% +3.1pp | 6.0% -4.6pp | 9.7% +3.6pp | 1.6% -8.1pp | -0.7% -2.3pp | 3.1% +3.8pp |
All values in $Billions
| Line Item | FY2016 | FY2017 YoY | FY2018 YoY | FY2019 YoY | FY2020 YoY | FY2021 YoY | FY2022 YoY | FY2023 YoY | FY2024 YoY |
|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||
| CURRENT ASSETS | |||||||||
| Cash & Equivalents | $54M | $32M -40.5% | $67M +107.2% | $127M +89.3% | $486M +282.0% | $349M -28.2% | $330M -5.4% | $468M +41.7% | $369M -21.1% |
| Accounts Receivable | $0K | $0K | $196M | $218M +11.3% | $190M -12.9% | $241M +26.7% | $299M +24.3% | $252M -15.8% | $256M +1.7% |
| Inventory | $69M | $96M +38.7% | $101M +4.9% | $108M +7.1% | $96M -10.8% | $120M +24.5% | $148M +23.0% | $110M -25.4% | $89M -19.5% |
| Total Current Assets | $315M | $367M +16.4% | $397M +8.2% | $483M +21.7% | $829M +71.6% | $781M -5.9% | $882M +13.0% | $928M +5.2% | $815M -12.1% |
| NON-CURRENT ASSETS | |||||||||
| Property, Plant & Equipment | $42M | $43M +1.4% | $52M +20.9% | $54M +5.3% | $59M +8.9% | $71M +20.4% | $94M +32.1% | $109M +15.6% | $113M +3.8% |
| Goodwill | $328M | $338M +3.1% | $336M -0.6% | $337M +0.2% | $499M +48.4% | $739M +48.0% | $734M -0.6% | $736M +0.2% | $735M -0.1% |
| Intangible Assets | $190M | $168M -11.7% | $144M -14.5% | $125M -13.1% | $168M +34.7% | $278M +65.0% | $243M -12.5% | $211M -13.1% | $188M -10.8% |
| Total Assets | $935M | $980M +4.8% | $1.08B +10.3% | $1.24B +14.8% | $1.82B +47.0% | $2.14B +17.4% | $2.21B +3.2% | $2.23B +0.7% | $2.12B -4.8% |
| LIABILITIES | |||||||||
| CURRENT LIABILITIES | |||||||||
| Accounts Payable | $27M | $48M +78.4% | $38M -21.2% | $46M +21.9% | $40M -13.1% | $72M +77.4% | $63M -11.4% | $45M -29.0% | $52M +15.0% |
| Short-term Debt | $8M | $15M +80.8% | $0K -100.0% | $0K | $0K | $0K | $0K | $0K | $0K |
| Total Current Liabilities | $181M | $213M +17.5% | $205M -3.7% | $237M +15.8% | $276M +16.6% | $876M +217.0% | $428M -51.1% | $368M -14.2% | $596M +62.0% |
| NON-CURRENT LIABILITIES | |||||||||
| Long-term Debt | $246M | $195M -20.7% | $135M -30.5% | $50M -63.1% | $0K -100.0% | $0K | $0K | $0K | $0K |
| Total Liabilities | $503M | $463M -8.0% | $402M -13.3% | $396M -1.5% | $857M +116.7% | $996M +16.2% | $1.08B +8.5% | $1.04B -4.0% | $878M -15.4% |
| EQUITY | |||||||||
| Retained Earnings | $100M | $123M +22.1% | $197M +61.1% | $259M +31.1% | $291M +12.3% | $369M +26.8% | $391M +6.0% | $370M -5.2% | $383M +3.4% |
| Treasury Stock | $0K | $0K | $0K | $0K | $0K | $0K | $290M | $290M +0.0% | $290M +0.0% |
| Total Stockholders' Equity | $432M | $517M +19.8% | $680M +31.4% | $845M +24.4% | $968M +14.5% | $1.15B +18.5% | $1.13B -1.4% | $1.19B +5.2% | $1.24B +4.6% |
| KEY BALANCE SHEET METRICS | |||||||||
| Total Debt (ST + LT) | $254M | $210M -17.3% | $135M -35.6% | $50M -63.1% | $0K -100.0% | $0K | $0K | $0K | $0K |
| Working Capital (CA - CL) | $134M | $155M +14.9% | $193M +24.6% | $246M +27.9% | $553M +124.6% | -$95M -117.3% | $453M +574.9% | $560M +23.5% | $220M -60.7% |
All values in $Billions
| Line Item | FY2016 | FY2017 YoY | FY2018 YoY | FY2019 YoY | FY2020 YoY | FY2021 YoY | FY2022 YoY | FY2023 YoY | FY2024 YoY |
|---|---|---|---|---|---|---|---|---|---|
| OPERATING ACTIVITIES | |||||||||
| Net Income | $603K | $21M +3317.1% | $38M +83.1% | $61M +62.6% | $32M -47.5% | $78M +141.8% | $6M -92.7% | -$20M -460.7% | $13M +161.5% |
| Depreciation & Amort. | $0K | $16M | $15M -6.8% | $17M +13.9% | $18M +6.4% | $20M +9.8% | $23M +13.4% | $27M +18.4% | $35M +27.8% |
| Stock-Based Comp. | $20M | $22M +12.1% | $29M +32.2% | $34M +17.9% | $45M +31.3% | $53M +18.9% | $68M +28.4% | $55M -19.0% | $39M -28.9% |
| Net Cash from Operations | $48M | $25M -48.2% | $104M +318.6% | $145M +39.5% | $186M +28.2% | $232M +24.7% | $78M -66.4% | $181M +132.8% | $188M +3.7% |
| INVESTING ACTIVITIES | |||||||||
| Capital Expenditures | $13M | $15M +14.1% | $24M +54.5% | $16M -32.9% | $23M +43.7% | $29M +26.8% | $48M +64.1% | $41M -12.8% | $36M -12.1% |
| Net Cash from Investing | -$341M | -$35M +89.7% | -$54M -55.4% | -$62M -13.4% | -$280M -353.9% | -$412M -47.4% | -$59M +85.8% | -$55M +6.2% | -$53M +4.0% |
| FINANCING ACTIVITIES | |||||||||
| Share Repurchases | $0K | $0K | $0K | $0K | $53M | $0K -100.0% | $52M | $0K -100.0% | $0K |
| Net Cash from Financing | $266M | -$10M -103.7% | -$14M -37.7% | -$23M -72.7% | $456M +2043.3% | $47M -89.6% | -$21M -144.2% | $23M +211.8% | -$236M -1105.9% |
| SUMMARY | |||||||||
| Free Cash Flow (OCF − CapEx) | $34M | $9M -72.5% | $80M +745.6% | $129M +60.9% | $163M +26.3% | $203M +24.4% | $30M -85.1% | $140M +361.6% | $151M +8.3% |
| Ending Cash Position | $54M | $32M -40.5% | $67M +107.2% | $127M +89.3% | $486M +282.0% | $349M -28.2% | $330M -5.4% | $468M +41.7% | $369M -21.1% |
| CASH QUALITY METRICS | |||||||||
| OCF / Net Income | 7949.8% | 120.5% -7829.2pp | 275.6% +155.0pp | 236.4% -39.2pp | 577.3% +340.9pp | 297.8% -279.6pp | 1377.1% +1079.4pp | -889.0% -2266.1pp | 1498.1% +2387.0pp |
| FCF / Revenue | 5.0% | 1.3% -3.6pp | 10.2% +8.9pp | 14.4% +4.2pp | 18.3% +3.9pp | 17.9% -0.4pp | 2.3% -15.6pp | 12.2% +9.8pp | 13.6% +1.4pp |
| CapEx / OCF | 28.0% | 61.8% +33.7pp | 22.8% -39.0pp | 11.0% -11.8pp | 12.3% +1.3pp | 12.5% +0.2pp | 61.1% +48.6pp | 22.9% -38.2pp | 19.4% -3.5pp |