Ardelyx, Inc. logo ARDX - Ardelyx, Inc.

Price: -- -- | CONSENSUS: Buy DETAILS
STRONG
BUY
0
BUY 16
HOLD 0
SELL 0
STRONG
SELL
0
| PRICE TARGET: $17.00 DETAILS
HIGH: $19.00
LOW: $15.00
MEDIAN: $17.00
CONSENSUS: $17.00
UPSIDE: 178.23%
Metric 2026 Q1 2025 Q4 2025 Q3 2025 Q2 2025 Q1 2024 Q4 2024 Q3 2024 Q2 2024 Q1 2023 Q4 2023 Q3 2023 Q2 2023 Q1 2022 Q4 2022 Q3 2022 Q2 2022 Q1 2021 Q4 2021 Q3 2021 Q2 2021 Q1 2020 Q4 2020 Q3 2020 Q2 2020 Q1 2019 Q4 2019 Q3 2019 Q2 2019 Q1 2018 Q4 2018 Q3 2018 Q2 2018 Q1 2017 Q4 2017 Q3 2017 Q2 2017 Q1 2016 Q4 2016 Q3 2016 Q2 2016 Q1 2015 Q4 2015 Q3 2015 Q2 2015 Q1 2014 Q4 2014 Q3 2014 Q2 2014 Q1 2013 Q4 2013 Q3 2013 Q2 2013 Q1
Revenue
Revenue 94.5 125.2 110.3 97.7 74.1 116.1 98.2 73.2 46.0 34.4 56.4 22.3 11.4 44.2 5.0 2.5 0.5 1.0 1.2 1.3 6.6 1.8 2.7 1.8 1.2 2.2 3.0 0.0 0 0.1 0.2 0.0 2.3 42 0 0 0 0 0 0 0 0 0 18.1 5.9 6.3 7.6 9.1 8.6 8.5 6.6 7.3 6.6
Cost of Revenue 4.8 11.8 4.9 13.0 12.9 18.3 15.7 10.0 7.6 5.1 7.7 3.5 1.5 3.2 0.7 0.1 0.1 0 0 0 1 0.0 0 0.1 0 0 0.6 0 0 0 0.0 0 0.5 8.4 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Gross Profit 89.7 113.4 105.4 84.6 61.2 97.9 82.5 63.2 38.5 29.3 48.7 18.8 9.8 41.0 4.3 2.4 0.4 1.0 1.2 1.3 5.6 1.8 2.7 1.7 1.2 2.2 2.4 0.0 0 0.1 0.2 0.0 1.9 33.6 0 0 0 0 0 0 0 0 0 18.1 5.9 6.3 7.6 9.1 8.6 8.5 6.6 7.3 6.6
Operating Expenses
R&D Expenses 20.2 21.9 17.2 15.0 14.3 13.7 15.3 12.2 10.1 9.5 8.6 8.3 9.1 9.1 7.5 9.7 8.9 21.0 23.7 26.0 20.5 18.1 12.2 18.9 15.8 14.2 17.6 19.5 20.4 22.0 17.9 16.0 13.3 17.2 15.4 20.6 22.4 26.2 24.9 23.8 19.2 12.8 14.7 6.2 6.2 7.4 5.7 5.2 7.6 8.3 6.6 7.2 5.9
SG&A Expenses 102.3 86.4 83.6 84.0 83.2 76.1 65.0 64.7 53.0 47.7 32.7 27.2 26.8 19.7 18.7 18.9 19.3 15.3 19.7 20.1 17.1 11.3 7.6 7.0 7.1 6.9 6.9 5.4 5.1 5.4 6.0 6.1 6.2 5.5 5.9 5.8 6.0 5.3 4.3 4.9 4.3 4.1 3.4 2.9 3.2 2.9 1.8 1.2 1.4 0.9 0.9 0.9 1.0
Other Expenses 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0.1 0 0.0 (0.1) 0 (0.0) 0.1 0 0 0 0 0 0 0 0 0 (0.1) 0 0 0 0 0 0.2 0.2 0.1 0.1 (0.1) (0.1) (0.0) (0.0) 0.0 (0.0) (0.0) (0.0) (0.0) (0.0) (0.0) (0.0)
Operating Expenses 122.5 108.3 100.8 99.0 97.6 89.7 80.3 76.8 63.1 57.3 41.3 35.5 35.9 28.9 26.1 28.6 28.2 36.3 43.4 46.1 37.6 29.4 19.9 25.9 23.0 21.1 24.5 24.8 25.5 27.5 23.9 22.2 19.5 22.6 21.2 26.4 28.4 31.5 29.2 28.7 23.5 16.9 18.1 9.1 9.4 10.3 7.5 6.4 9.0 9.2 7.5 8.1 7.0
Operating Income
Operating Income (32.8) 5.1 4.7 (14.4) (36.3) 8.1 2.2 (13.6) (24.7) (28.0) 7.4 (16.6) (26.1) 12.1 (21.9) (26.2) (27.8) (35.3) (42.2) (44.8) (32.0) (27.6) (17.2) (24.2) (21.8) (18.8) (22.1) (24.8) (25.5) (27.4) (23.7) (22.2) (17.7) 11.0 (21.2) (26.4) (28.4) (31.5) (29.2) (28.7) (23.5) (16.9) (18.1) 9.1 (3.5) (3.9) 0.1 2.8 (0.5) (0.7) (0.9) (0.9) (0.4)
Interest Expense 6.9 7.6 8.0 6.6 6.3 5.9 5.3 4.9 4.1 2.8 2.0 2.0 2.0 1.8 1.7 0.8 0.7 1.0 1.2 1.2 1.1 1.3 1.2 1.2 1.4 1.4 1.4 1.5 1.4 1.4 1.4 0.7 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Interest Income 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Profitability
EBITDA (31.9) 6.0 5.6 (13.8) (35.7) 11.0 5.1 (10.9) (21.9) (25.3) 9.1 (13.5) (23.9) 13.5 (20.5) (25.9) (26.9) (35.1) (41.9) (43.6) (31.6) (27.2) (16.5) (23.3) (20.5) (17.9) (21.2) (23.3) (24.0) (25.8) (22.1) (21.6) (16.3) 11.6 (20.5) (25.8) (27.8) (31.1) (28.9) (28.4) (23.2) (16.6) (17.8) 9.2 (3.4) (3.8) 0.2 2.8 (0.4) (0.6) (0.7) (0.7) (0.2)
EBIT (32.8) 5.1 4.7 (14.4) (36.3) 10.5 4.5 (11.5) (22.3) (25.7) 8.9 (15.1) (24.8) 12.5 (21.2) (26.1) (27.3) (35.2) (42.4) (44.0) (32.1) (27.6) (16.9) (23.7) (21.0) (18.4) (21.8) (24.0) (24.7) (24.2) (22.7) (21.6) (17.0) 11.3 (21.2) (26.4) (28.4) (31.5) (29.2) (28.7) (23.5) (16.9) (18.1) 9.1 (3.5) (3.9) 0.1 2.8 (0.5) (0.7) (0.9) (0.9) (0.4)
Income Before Tax (37.6) (0.4) (0.9) (19.1) (40.3) 4.7 (0.8) (16.4) (26.4) (28.5) 6.8 (17.1) (26.8) 10.7 (22.9) (26.9) (28.1) (36.2) (43.6) (45.2) (33.2) (28.9) (18.1) (25.0) (22.4) (19.8) (23.2) (25.5) (26.1) (27.9) (24.1) (22.3) (17.0) 11.3 (20.7) (25.7) (28.0) (31.3) (29.0) (28.6) (23.5) (17.0) (18.2) 9.0 (3.5) (3.9) 0.1 3.8 (3.1) (4.2) (0.9) (0.9) (0.4)
Income Tax Expense 0.0 0.0 0.1 0.0 0.9 0.0 0.0 0.1 0.1 0.3 0.2 0 0.0 0 0 0.0 0.0 0 0.0 0.0 0.0 0.0 0 0 0 0 0.3 0 0.0 (0.0) 0 0.0 0.0 1.2 0 0 0 0 0 0 0 0.0 (0.0) 0 0 0.1 0 0 0 0.0 0.0 0.0 0.0
Net Income (37.6) (0.4) (1.0) (19.1) (41.1) 4.6 (0.8) (16.5) (26.5) (28.8) 6.6 (17.1) (26.8) 10.7 (22.9) (26.9) (28.1) (36.2) (43.6) (45.2) (33.2) (28.9) (18.1) (25.0) (22.4) (19.8) (23.5) (25.5) (26.1) (27.9) (24.1) (22.3) (17.0) 10.1 (20.7) (25.7) (28.0) (31.3) (29.0) (28.6) (23.5) (17) (18.1) 9.0 (3.5) (4.0) 0.1 3.8 (3.1) (4.3) (0.9) (0.9) (0.5)
Per Share Data
EPS (Basic) -0.15 -0.00 -0.00 -0.08 -0.17 0.02 -0.00 -0.07 -0.11 -0.12 0.03 -0.08 -0.13 0.06 -0.14 -0.19 -0.21 -0.31 -0.42 -0.45 -0.34 -0.32 -0.20 -0.28 -0.25 -0.28 -0.37 -0.41 -0.42 -0.45 -0.39 -0.42 -0.36 0.21 -0.44 -0.54 -0.59 -0.66 -0.65 -0.83 -0.70 -0.65 -0.70 0.43 -0.19 -0.21 0.00 0.21 -0.17 -0.32 -0.07 -0.07 -0.04
EPS (Diluted) -0.15 -0.00 -0.00 -0.08 -0.17 0.02 -0.00 -0.07 -0.11 -0.12 0.03 -0.08 -0.13 0.06 -0.14 -0.19 -0.21 -0.31 -0.42 -0.45 -0.34 -0.32 -0.20 -0.28 -0.25 -0.28 -0.37 -0.41 -0.42 -0.45 -0.39 -0.42 -0.36 0.21 -0.44 -0.54 -0.59 -0.66 -0.65 -0.83 -0.70 -0.65 -0.70 0.42 -0.19 -0.21 0.00 0.20 -0.17 -0.32 -0.07 -0.07 -0.04
Shares Outstanding 245.9 243.6 241.9 239.9 238.6 237.4 235.9 234.6 233.1 232.3 222.8 215.0 207.0 192.4 165.1 141.8 130.9 113.5 103.8 100.0 97.2 91.0 89.4 89.1 88.9 69.8 62.8 62.7 62.5 62.1 62.1 52.8 47.6 47.5 47.5 47.4 47.3 47.3 44.9 34.6 33.5 26.0 25.9 20.9 18.6 18.5 18.4 18.1 17.9 13.3 13.3 13.3 13.3
Metric 2026 Q1 2025 Q4 2025 Q3 2025 Q2 2025 Q1 2024 Q4 2024 Q3 2024 Q2 2024 Q1 2023 Q4 2023 Q3 2023 Q2 2023 Q1 2022 Q4 2022 Q3 2022 Q2 2022 Q1 2021 Q4 2021 Q3 2021 Q2 2021 Q1 2020 Q4 2020 Q3 2020 Q2 2020 Q1 2019 Q4 2019 Q3 2019 Q2 2019 Q1 2018 Q4 2018 Q3 2018 Q2 2018 Q1 2017 Q4 2017 Q3 2017 Q2 2017 Q1 2016 Q4 2016 Q3 2016 Q2 2016 Q1
Current Assets
Cash & Cash Equivalents 31.2 68.0 42.7 90.0 30.8 64.9 47.4 41.9 36.1 21.5 33.8 30.1 92.5 96.1 61.6 53.4 47.1 72.4 75.3 86.7 84.1 91.0 91.0 100.5 105.9 181.1 92.7 89.6 92.0 78.8 75.0 91.8 67.7 75.4 59.5 63.6 71.2 74.6 160.4 146.7 171.7
Short-Term Investments 206.9 196.7 200.0 148.4 183.1 185.2 143.0 144.1 166.4 162.8 131.3 97.5 37.9 27.8 29.0 27.6 42.6 44.3 66.4 85.1 94.1 95.5 94.5 104.3 117.3 66.4 10.9 34.3 59.5 89.3 111.4 121.0 59.7 58.6 69.8 85.1 102.2 126.2 69.7 0 0
Net Receivables 82.8 71.8 76.6 62.6 46.5 57.7 53.2 37.2 28.2 22.0 43.3 9.1 12.1 7.7 5.2 5.6 4.4 0.5 0.3 0 5.8 0 0.8 0.8 0.8 0.8 2.7 0.0 0.0 5.1 5.2 5.0 5 10.8 0 0 0 0 0 0 0
Inventory 22.7 17.7 25.2 22.3 23.8 21.2 11.4 13.8 9.8 12.4 8.5 7.6 4.8 3.3 1.2 4.5 3.5 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Other Current Assets 38.2 13.6 15.4 15.5 14.6 11.1 12.5 11.3 11.9 8.4 7.2 4.6 5.9 5.1 6.6 5.2 0 0.0 0 0 0 0 0 0 0 0 4.6 3.3 2.7 0 0 0 0 0 0 5.2 4.6 3.2 4.1 0 0
Total Current Assets 381.9 382.3 368.0 351.6 312.7 356.5 284.1 263.0 257.9 246.1 241.2 162.1 167.0 153.6 119.9 114.1 114.2 133.6 153.4 186.5 205.4 195.2 193.8 211.6 228.6 252.4 110.8 127.2 154.3 177.7 199.3 221.7 135.3 149.9 133.6 153.9 178.0 204.0 234.2 150.4 175.7
Non-Current Assets
Property, Plant & Equipment 6.4 7.0 7.2 7.1 5.3 3.9 4.7 5.3 5.7 6.6 7.6 8.1 9.1 10.5 11.5 12.6 14.0 15.1 16.2 17.2 4.0 4.2 4.5 5.4 6.4 7.4 8.4 9.4 10.5 5.6 6.0 6.7 7.4 8.0 8.6 9.3 8.9 9.0 7.0 4.8 4.6
Goodwill 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Intangible Assets 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Long-Term Investments 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 2.1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Other Non-Current Assets 116.2 112.3 111.0 108.1 92.2 75.4 79.1 75.1 78.8 44.9 40.5 41.0 40.9 25.9 13.3 4.9 1.2 1.1 1.2 1.3 1.0 0 0.2 0.3 0.3 0 0.2 1.4 1.4 0 1.4 0.2 0.2 0 0.9 0.8 0.8 0.1 0.1 0.1 0.2
Total Non-Current Assets 122.6 120.5 118.2 115.2 97.5 79.3 83.8 80.5 84.4 51.5 48.2 49.1 50.0 36.5 24.8 17.5 15.2 16.3 17.5 18.5 4.9 6.3 4.8 5.7 6.7 7.4 8.6 10.7 11.8 5.6 7.3 6.8 7.5 8.0 9.5 10.2 9.8 9.1 7.1 5.0 4.8
Total Assets 504.5 502.8 486.2 466.8 410.2 435.8 367.9 343.5 342.4 297.6 289.4 211.2 217.0 190.1 144.7 131.6 129.4 149.9 170.8 205.0 210.3 201.6 198.6 217.3 235.3 259.8 119.4 138.0 166.1 183.3 206.7 228.5 142.8 157.9 143.1 164.1 187.8 213.1 241.3 155.4 180.5
Current Liabilities
Account Payables 28.2 19.2 18.4 21.7 13.7 16 15.8 10.9 17.3 11.1 7.7 5.3 10.5 10.9 3.1 4.3 5.0 4.3 4.3 2.6 5.4 5.6 2.5 4.2 1.0 2.2 2.7 1.3 2.9 1.1 2.3 3.2 1.8 3.9 1.7 4.7 5.9 5.6 6.3 4.7 4.9
Short-Term Debt 0 1.5 0 0 0 0 0 0 0 0 0 27.1 30.9 26.7 26.5 26.4 26.1 32.3 44.4 36.1 16.7 6.3 0 16.5 10.2 3.8 2.5 2.3 2.1 0 0 0 0 0 0 0 0 0 0 0 0
Deferred Revenue 3.2 1.2 6.6 6.3 10.9 10.7 7.3 10.8 6.6 7.2 4.1 6.0 5.5 4.2 4.0 0 0 0 0.5 1.4 2.7 4.2 0 2.2 3.4 4.5 11.7 12.2 15.2 1 1 1 1 0 0 0 0 0 0 0 0
Other Current Liabilities 76.6 47.6 15.1 11.8 49.9 23.7 11.5 10.5 6.7 15.0 8.4 6.9 7.1 10.1 7.2 6.4 0.7 1.2 4.8 5.9 4.3 5.2 2.1 4.7 4.2 4.6 1.2 0.8 0.3 12.9 10.0 9.2 8.8 10.7 11.3 11.1 11.6 10.4 9.1 0.8 0.5
Total Current Liabilities 109.6 88.6 83.4 81.7 75.8 77.8 70.5 62.4 56.9 50.4 43.5 61.7 63.1 65.6 52.0 48.7 47.8 52.8 68.8 57.8 41.8 28.4 16.5 33.6 23.4 22.2 17.7 16.3 20.8 17.7 15.5 15.6 13.2 17.9 15.7 18.4 19.3 19.2 17.6 14.1 12.5
Non-Current Liabilities
Long-Term Debt 203.5 206.5 202.1 201.4 151.3 150.9 100.7 100.2 99.8 49.8 27.2 0 0 0 0 0 0 0 7.0 15.1 34.3 46.6 50.7 36.7 42.8 48.8 49.8 49.6 49.4 49.2 49.0 48.8 0 0 0 0 0 0 0 0 0
Deferred Tax Liabilities 0 1.2 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Other Non-Current Liabilities 0 (3.6) 28.6 27.8 26.5 25.5 24.4 23.1 21.9 20.2 14.3 13.4 12.2 11.3 10.4 9.6 8.6 4.7 0 0 0 0 0.0 0 0 0 0 0 0 0.6 0.7 0.7 0.7 0.7 0.7 0.8 0.8 0.8 0.8 0.7 0.3
Total Non-Current Liabilities 246.3 247.3 248.5 245.5 188.7 184.6 139.1 134.1 134.6 80.4 54.7 26.4 28.5 26.1 25.9 29.9 17.4 14.5 20.6 29.6 37.7 47.0 50.7 37.3 44.1 50.9 52.6 53.0 53.5 49.8 49.7 49.5 0.7 0.7 0.7 0.8 0.8 0.8 0.8 0.7 0.3
Total Liabilities 355.9 335.9 331.9 327.2 264.5 262.5 209.6 196.5 191.5 130.8 98.2 88.0 91.6 91.7 77.8 78.6 65.2 67.3 89.4 87.4 79.5 75.5 67.2 71.0 67.6 73.1 70.3 69.4 74.3 67.5 65.2 65.1 13.9 18.6 16.5 19.1 20.1 20.0 18.4 14.8 12.8
Stockholders' Equity
Common Stock 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Retained Earnings (984.5) (946.9) (946.5) (945.6) (926.5) (885.3) (890.0) (889.2) (872.7) (846.2) (817.4) (824.0) (806.9) (780.1) (790.8) (767.9) (741.0) (712.9) (676.7) (633.1) (587.9) (554.8) (525.9) (507.8) (482.8) (460.5) (440.7) (417.1) (391.7) (365.5) (337.6) (313.5) (291.2) (278.2) (288.3) (267.6) (241.9) (213.9) (182.6) (153.6) (125.0)
Accumulated Other Comprehensive Income (0.1) 0.2 0.1 (0.0) 0.0 0.1 0.2 (0.1) (0.0) 0.2 (0.2) (0.2) (0.0) (0.1) (0.1) (0.1) (0.1) (0.0) 0.0 0.0 (0.0) (0.0) 0.1 0.3 (0.0) 0.0 0.0 0.0 0.0 (0.0) (0.0) (0.0) (0.1) (0.0) (0.0) (0.0) (0.0) (0.1) (0.0) 0 0
Total Stockholders' Equity 148.6 166.9 154.3 139.5 145.7 173.3 158.3 147.0 150.9 166.8 191.2 123.2 125.4 98.3 66.9 53.0 64.2 82.6 81.4 117.6 130.8 126.1 131.3 146.3 167.8 186.7 49.2 68.6 91.8 115.8 141.4 163.4 129.0 139.3 126.6 145.0 167.7 193.2 222.9 140.6 167.7
Total Liabilities & Equity 504.5 502.8 486.2 466.8 410.2 435.8 367.9 343.5 342.4 297.6 289.4 211.2 217.0 190.1 144.7 131.6 129.4 149.9 170.8 205.0 210.3 201.6 198.6 217.3 235.3 259.8 119.4 138.0 166.1 183.3 206.7 228.5 142.8 157.9 143.1 164.1 187.8 213.1 241.3 155.4 180.5
Debt Metrics
Total Debt 208.3 211.6 207.6 206.6 155.1 153.4 104.5 104.9 104.9 56.0 34.4 34.9 39.7 36.5 37.2 37.9 38.5 45.5 65.5 66.0 52.8 55.4 53.5 56.7 57.0 57.3 55.1 55.3 55.6 49.2 49.0 48.8 0 0 0 0 0 0 0 0 0
Net Debt 177.1 143.6 164.9 116.6 124.3 88.5 57.1 63.0 68.8 34.5 0.7 4.9 (52.8) (59.7) (24.4) (15.5) (8.5) (26.9) (9.8) (20.8) (31.2) (35.6) (37.6) (43.8) (48.9) (123.8) (37.6) (34.3) (36.5) (29.6) (26.0) (42.9) (67.7) (75.4) (59.5) (63.6) (71.2) (74.6) (160.4) (146.7) (171.7)
Metric 2026 Q1 2025 Q4 2025 Q3 2025 Q2 2025 Q1 2024 Q4 2024 Q3 2024 Q2 2024 Q1 2023 Q4 2023 Q3 2023 Q2 2023 Q1 2022 Q4 2022 Q3 2022 Q2 2022 Q1 2021 Q4 2021 Q3 2021 Q2 2021 Q1 2020 Q4 2020 Q3 2020 Q2 2020 Q1 2019 Q4 2019 Q3 2019 Q2 2019 Q1 2018 Q4 2018 Q3 2018 Q2 2018 Q1 2017 Q4 2017 Q3 2017 Q2 2017 Q1 2016 Q4 2016 Q3 2016 Q2 2016 Q1
Operating Activities
Net Income (37.6) (0.4) (1.0) (19.1) (41.1) 4.6 (0.8) (16.5) (26.5) (28.8) 6.6 (17.1) (26.8) 10.7 (22.9) (26.9) (28.1) (36.2) (43.6) (45.2) (33.2) (28.9) (18.1) (25.0) (22.4) (19.8) (23.5) (25.5) (26.1) (27.9) (24.1) (22.3) (17.0) 10.1 (20.7) (25.7) (28.0) (31.3) (29.0) (28.6) (23.5)
Depreciation & Amortization 0.9 0.9 0.9 0.6 0.6 0.5 0.5 0.6 0.4 0.4 0.3 0.6 (0.0) 0.1 0.3 0.2 0.2 0.2 0.5 0.4 0.4 0.4 0.4 0.5 0.5 0.5 0.6 0.7 0.7 0.7 0.7 0.7 0.7 0.7 0.7 0.6 0.6 0.4 0.3 0.3 0.3
Stock-Based Compensation 14.2 0 12.7 11.7 12.1 9.9 9.1 10.8 7.6 3.9 3.5 3.2 2.9 1.9 1.8 3.3 3.7 3.5 2.3 3.2 3.1 2.4 2.5 2.7 2.9 2.2 3.9 1.9 1.9 2.2 1.9 2.6 2.4 2.6 2.1 2.8 2.1 1.6 1.3 1.3 1.2
Change in Working Capital (7.7) 7.7 (9.2) (18.9) (10.8) (6.2) (9.5) (14.8) (18.7) 15.2 (32.8) (2.4) (23.4) (0.8) (6.1) (8.6) (4.1) (8.1) 4.9 7.0 (15.7) 7.4 (5.7) 1.9 (6.8) 5.0 (2.6) (5.6) 6.2 6.6 (5.4) 1.0 7.1 (8.5) (1.5) (2.2) (1.5) 2.7 2.5 2.0 5.6
Other Non-Cash Items (2.0) 12.8 (3.1) 0.3 0.8 1.0 1.1 0.5 1.4 0.6 0.9 0.9 2.4 2.3 1.4 0.9 0.6 1.1 1.2 1.0 0.9 0.8 0.9 0.9 0.8 0.8 0.9 0.8 0.7 0.3 0.3 0.1 0.1 (0.1) 0.3 0.3 0.1 0.1 0.2 0.1 0.1
Operating Cash Flow (32.2) 21.0 0.4 (25.3) (38.5) 9.8 0.5 (19.4) (35.7) (8.7) (21.5) (14.7) (44.8) 14.3 (25.4) (31.3) (27.6) (39.5) (34.6) (34.3) (44.2) (17.6) (19.9) (19.0) (24.9) (11.1) (20.6) (27.8) (16.9) (18.4) (27.0) (18.0) (6.8) 4.7 (19.0) (24.1) (26.8) (26.6) (24.8) (24.9) (16.2)
Investing Activities
Capital Expenditure (0.1) (0.4) (0.2) (0.7) (0.3) (0.6) (0.1) (0.1) (0.1) (0.0) (0.2) (0.1) (0.0) (0.1) 0 (0.5) 0 0.1 (0.4) (0.7) (0.8) (0.2) (0.0) 0 (0.0) 0 (0.1) (0.0) (0.2) (0.3) 0.0 0 (0.1) (0.0) (0.4) (0.8) (1.1) (2.8) (1.6) (0.3) (0.2)
Acquisitions 0 0 0 0 0 0 0 0 0 0 0 0 9.8 (16.6) 0 0.5 0 0 0 0 0 31.4 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 (7.6) 0 0 0
Purchases of Investments (47.9) (50.9) (113.7) (22.8) (31.6) (98.5) (39.8) (22.8) (34.0) (77.6) (49.5) (67.4) (20.8) (6.5) (18.1) 0.0 (25.8) 0.0 (24.4) (16.2) (32.1) (43.7) (44.2) (8.1) (54.9) (66.3) (5.5) (6.0) (24.9) (20.7) (29.3) (80.0) (39.0) (13.6) (25.6) (26.5) (18.3) (64.1) 0 0 0
Sales/Maturities of Investments 38.0 55 63.3 58.4 34.7 57.5 42.2 46.5 31.6 48.1 17.0 8.2 11 8 16.7 15 27.3 22 43 25.2 35.4 40.3 53.9 21.5 4 10.9 29.0 31.4 55.0 43.1 39.4 19.0 37.9 24.9 40.9 43.6 42.4 7.6 0 0 0
Other Investing Activities 0 0 0 0 0 0 0 0 0 0 0 0 (9.8) 16.6 0.5 0.5 0.8 0 0 0 0 (31.4) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 7.6 (69.7) 0 0
Investing Cash Flow (10.0) 3.8 (50.5) 34.9 2.9 (41.6) 2.3 23.5 (2.6) (29.6) (32.7) (59.2) (9.8) 1.4 (0.8) 15.5 2.3 22.1 18.1 8.2 2.5 (3.6) 9.6 13.4 (50.9) (55.5) 23.4 25.4 30.0 22.2 10.1 (61.0) (1.1) 11.2 14.8 16.3 23.0 (59.2) (71.4) (0.3) (0.2)
Financing Activities
Net Debt Issuance 0 0 0 48.7 0 48.7 0 0 49.8 22.4 0 0 0 0 0 0 (6.1) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Stock Repurchased 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Dividends Paid 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Other Financing Activities 0 0 0 0 0 0 0 0 0 3.6 0.7 0.1 0.2 0.0 0.1 9.6 0.1 (19.4) 0.3 0.5 0.5 21.2 0.8 0.2 0.6 0.2 0.2 0.0 0.2 (0.0) 0.2 103.1 0 0.0 0.2 (0.2) 0 0 (0.1) 0.2 0.3
Financing Cash Flow 5.4 0.6 2.8 49.7 1.5 49.3 2.7 1.6 53.0 26.0 57.9 11.5 50.9 18.8 34.5 22.1 (0.1) 14.5 5.0 28.7 34.8 21.2 0.8 0.2 0.6 155.1 0.2 0.0 0.2 (0.0) 0.2 103.1 0.3 0.0 0.0 0.2 0.4 0.2 109.7 0.2 81.1
Cash Position
Net Change in Cash (36.8) 25.3 (47.3) 59.2 (34.1) 17.5 5.5 5.7 14.7 (12.3) 3.7 (62.4) (3.7) 34.5 8.2 6.3 (25.4) (2.9) (11.5) 2.7 (7.0) 0.0 (9.5) (5.4) (75.2) 88.5 3.0 (2.4) 13.3 3.8 (16.7) 24.0 (7.6) 15.9 (4.2) (7.6) (3.4) (85.8) 13.7 (25.0) 64.7
Cash at Beginning 68.0 42.7 90.0 30.8 64.9 47.4 41.9 36.1 21.5 33.8 30.1 92.5 96.1 61.6 53.4 47.1 72.4 75.3 86.7 84.1 91.0 91.0 100.5 105.9 181.1 92.7 89.6 92.0 78.8 75.0 91.8 67.7 75.4 59.5 63.6 71.2 74.6 160.4 146.7 171.7 107.0
Cash at End 31.2 68.0 42.7 90.0 30.8 64.9 47.4 41.9 36.1 21.5 33.8 30.1 92.5 96.1 61.6 53.4 47.1 72.4 75.3 86.7 84.1 91.0 91.0 100.5 105.9 181.1 92.7 89.6 92.0 78.8 75.0 91.8 67.7 75.4 59.5 63.6 71.2 74.6 160.4 146.7 171.7
Free Cash Flow (32.3) 20.6 0.2 (26.0) (38.8) 9.2 0.4 (19.5) (35.9) (8.8) (21.7) (14.8) (44.8) 14.2 (25.4) (31.8) (27.6) (39.4) (35.0) (35.0) (45.0) (17.8) (19.9) (19.0) (25.0) (11.1) (20.7) (27.9) (17.1) (18.7) (27.0) (18.0) (6.9) 4.7 (19.5) (24.9) (27.9) (29.3) (26.4) (25.2) (16.4)
Key Metrics 2026 Q1 2025 Q4 2025 Q3 2025 Q2 2025 Q1 2024 Q4 2024 Q3 2024 Q2 2024 Q1 2023 Q4 2023 Q3 2023 Q2 2023 Q1 2022 Q4 2022 Q3 2022 Q2 2022 Q1 2021 Q4 2021 Q3 2021 Q2 2021 Q1 2020 Q4 2020 Q3 2020 Q2 2020 Q1 2019 Q4 2019 Q3 2019 Q2 2019 Q1 2018 Q4 2018 Q3 2018 Q2 2018 Q1 2017 Q4 2017 Q3 2017 Q2 2017 Q1 2016 Q4 2016 Q3 2016 Q2 2016 Q1 2015 Q4 2015 Q3 2015 Q2 2015 Q1 2014 Q4 2014 Q3 2014 Q2 2014 Q1 2013 Q4 2013 Q3 2013 Q2 2013 Q1
Income Statement
Revenue 94.5 125.2 110.3 97.7 74.1 116.1 98.2 73.2 46.0 34.4 56.4 22.3 11.4 44.2 5.0 2.5 0.5 1.0 1.2 1.3 6.6 1.8 2.7 1.8 1.2 2.2 3.0 0.0 0 0.1 0.2 0.0 2.3 42 0 0 0 0 0 0 0 0 0 18.1 5.9 6.3 7.6 9.1 8.6 8.5 6.6 7.3 6.6
Gross Profit 89.7 113.4 105.4 84.6 61.2 97.9 82.5 63.2 38.5 29.3 48.7 18.8 9.8 41.0 4.3 2.4 0.4 1.0 1.2 1.3 5.6 1.8 2.7 1.7 1.2 2.2 2.4 0.0 0 0.1 0.2 0.0 1.9 33.6 0 0 0 0 0 0 0 0 0 18.1 5.9 6.3 7.6 9.1 8.6 8.5 6.6 7.3 6.6
Operating Income (32.8) 5.1 4.7 (14.4) (36.3) 8.1 2.2 (13.6) (24.7) (28.0) 7.4 (16.6) (26.1) 12.1 (21.9) (26.2) (27.8) (35.3) (42.2) (44.8) (32.0) (27.6) (17.2) (24.2) (21.8) (18.8) (22.1) (24.8) (25.5) (27.4) (23.7) (22.2) (17.7) 11.0 (21.2) (26.4) (28.4) (31.5) (29.2) (28.7) (23.5) (16.9) (18.1) 9.1 (3.5) (3.9) 0.1 2.8 (0.5) (0.7) (0.9) (0.9) (0.4)
Net Income (37.6) (0.4) (1.0) (19.1) (41.1) 4.6 (0.8) (16.5) (26.5) (28.8) 6.6 (17.1) (26.8) 10.7 (22.9) (26.9) (28.1) (36.2) (43.6) (45.2) (33.2) (28.9) (18.1) (25.0) (22.4) (19.8) (23.5) (25.5) (26.1) (27.9) (24.1) (22.3) (17.0) 10.1 (20.7) (25.7) (28.0) (31.3) (29.0) (28.6) (23.5) (17) (18.1) 9.0 (3.5) (4.0) 0.1 3.8 (3.1) (4.3) (0.9) (0.9) (0.5)
EPS (Diluted) -0.15 -0.00 -0.00 -0.08 -0.17 0.02 -0.00 -0.07 -0.11 -0.12 0.03 -0.08 -0.13 0.06 -0.14 -0.19 -0.21 -0.31 -0.42 -0.45 -0.34 -0.32 -0.20 -0.28 -0.25 -0.28 -0.37 -0.41 -0.42 -0.45 -0.39 -0.42 -0.36 0.21 -0.44 -0.54 -0.59 -0.66 -0.65 -0.83 -0.70 -0.65 -0.70 0.42 -0.19 -0.21 0.00 0.20 -0.17 -0.32 -0.07 -0.07 -0.04
Balance Sheet
Cash & Equivalents 31.2 68.0 42.7 90.0 30.8 64.9 47.4 41.9 36.1 21.5 33.8 30.1 92.5 96.1 61.6 53.4 47.1 72.4 75.3 86.7 84.1 91.0 91.0 100.5 105.9 181.1 92.7 89.6 92.0 78.8 75.0 91.8 67.7 75.4 59.5 63.6 71.2 74.6 160.4 146.7 171.7
Total Assets 504.5 502.8 486.2 466.8 410.2 435.8 367.9 343.5 342.4 297.6 289.4 211.2 217.0 190.1 144.7 131.6 129.4 149.9 170.8 205.0 210.3 201.6 198.6 217.3 235.3 259.8 119.4 138.0 166.1 183.3 206.7 228.5 142.8 157.9 143.1 164.1 187.8 213.1 241.3 155.4 180.5
Total Debt 208.3 211.6 207.6 206.6 155.1 153.4 104.5 104.9 104.9 56.0 34.4 34.9 39.7 36.5 37.2 37.9 38.5 45.5 65.5 66.0 52.8 55.4 53.5 56.7 57.0 57.3 55.1 55.3 55.6 49.2 49.0 48.8 0 0 0 0 0 0 0 0 0
Stockholders' Equity 148.6 166.9 154.3 139.5 145.7 173.3 158.3 147.0 150.9 166.8 191.2 123.2 125.4 98.3 66.9 53.0 64.2 82.6 81.4 117.6 130.8 126.1 131.3 146.3 167.8 186.7 49.2 68.6 91.8 115.8 141.4 163.4 129.0 139.3 126.6 145.0 167.7 193.2 222.9 140.6 167.7
Cash Flow
Operating Cash Flow (32.2) 21.0 0.4 (25.3) (38.5) 9.8 0.5 (19.4) (35.7) (8.7) (21.5) (14.7) (44.8) 14.3 (25.4) (31.3) (27.6) (39.5) (34.6) (34.3) (44.2) (17.6) (19.9) (19.0) (24.9) (11.1) (20.6) (27.8) (16.9) (18.4) (27.0) (18.0) (6.8) 4.7 (19.0) (24.1) (26.8) (26.6) (24.8) (24.9) (16.2)
Capital Expenditure (0.1) (0.4) (0.2) (0.7) (0.3) (0.6) (0.1) (0.1) (0.1) (0.0) (0.2) (0.1) (0.0) (0.1) 0 (0.5) 0 0.1 (0.4) (0.7) (0.8) (0.2) (0.0) 0 (0.0) 0 (0.1) (0.0) (0.2) (0.3) 0.0 0 (0.1) (0.0) (0.4) (0.8) (1.1) (2.8) (1.6) (0.3) (0.2)
Free Cash Flow (32.3) 20.6 0.2 (26.0) (38.8) 9.2 0.4 (19.5) (35.9) (8.8) (21.7) (14.8) (44.8) 14.2 (25.4) (31.8) (27.6) (39.4) (35.0) (35.0) (45.0) (17.8) (19.9) (19.0) (25.0) (11.1) (20.7) (27.9) (17.1) (18.7) (27.0) (18.0) (6.9) 4.7 (19.5) (24.9) (27.9) (29.3) (26.4) (25.2) (16.4)