BHVN - Biohaven Ltd.
Price:
--
--
|
CONSENSUS:
Buy
DETAILS
|
PRICE TARGET:
$20.00
DETAILS
HIGH:
$30.00
LOW:
$11.00
MEDIAN:
$19.00
CONSENSUS:
$20.00
UPSIDE:
65.56%
| Metric | 2026 Q2 | 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 Q3 | 2018 Q2 | 2018 Q1 | 2017 Q4 | 2017 Q3 | 2017 Q2 | 2017 Q1 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | |||||||||||||||||||||||||||||||||||||
| Revenue | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 92.9 | 43.8 | 35.1 | 17.7 | 9.7 | 1.2 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cost of Revenue | 0 | 0 | 1.0 | 1.1 | 0 | 0 | 0 | 0 | 0 | 0 | 0.9 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 17.3 | 12.9 | 10.0 | 4.2 | 3.1 | 0.4 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Gross Profit | 0 | 0 | (1.0) | (1.1) | 0 | 0 | 0 | 0 | 0 | 0 | (0.9) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 75.6 | 31.0 | 25.1 | 13.4 | 6.6 | 0.7 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Operating Expenses | |||||||||||||||||||||||||||||||||||||
| R&D Expenses | 100.8 | 103.8 | 121.9 | 141.2 | 184.4 | 187.6 | 167.5 | 157.6 | 314.8 | 156.0 | 134.8 | 95.5 | 79.5 | 63.5 | 137.0 | 52.8 | 177.1 | 70.1 | 41.8 | 47.0 | 77.4 | 46.3 | 73.5 | 57.0 | 42.4 | 56.1 | 66.0 | 61.7 | 176.0 | 41.0 | 47.4 | 29.1 | 75.6 | 66.8 | 35.0 | 21.0 | 10.7 |
| SG&A Expenses | 24.1 | 26.6 | 20.8 | 28.2 | 27.3 | 34.0 | 22.5 | 20.6 | 19.0 | 27.3 | 17.9 | 15.0 | 14.5 | 14.3 | 76.4 | 14.8 | 20.0 | 19.7 | 9.1 | 8.5 | 170.1 | 159.5 | 122.4 | 119.5 | 124.8 | 95.6 | 69.0 | 28.8 | 23.2 | 13.5 | 7.6 | 9.1 | 7.9 | 12.5 | 4.6 | 4.2 | 3.8 |
| Other Expenses | 0 | 0 | (1.0) | (1.1) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 60.8 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Operating Expenses | 124.9 | 130.4 | 141.8 | 168.3 | 211.7 | 221.6 | 189.9 | 178.2 | 333.8 | 183.2 | 152.8 | 110.5 | 94.0 | 77.8 | 213.4 | 67.6 | 197.1 | 89.8 | 50.9 | 55.5 | 247.5 | 266.6 | 195.8 | 176.6 | 167.2 | 151.7 | 135.0 | 90.5 | 199.2 | 54.5 | 54.9 | 38.1 | 83.4 | 79.3 | 39.6 | 25.2 | 14.5 |
| Operating Income | |||||||||||||||||||||||||||||||||||||
| Operating Income | (124.9) | (130.4) | (142.7) | (169.4) | (211.7) | (221.6) | (189.9) | (178.2) | (333.8) | (183.2) | (153.7) | (110.5) | (94.0) | (77.8) | (213.4) | (67.6) | (197.1) | (89.8) | (50.9) | (55.5) | (171.9) | (235.7) | (170.7) | (163.2) | (160.6) | (150.9) | (135.0) | (90.5) | (199.2) | (54.5) | (54.9) | (38.1) | (83.4) | 79.3 | (39.6) | (25.2) | (14.5) |
| Interest Expense | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | – | 0 | 0 | 0 | 0 | – | 0 | 0 | 0 | 0 | (2.3) | (4.6) | (0.2) | (5.6) | 2.4 | (4.4) | (4.0) | (6.8) | (0.0) | (0.0) | (0.0) | 0.9 | (0.2) | (0.4) | (0.3) |
| Interest Income | 0 | 0 | 2.8 | 3.4 | 4.2 | 4.2 | 6.3 | 5.6 | 5.1 | 4.3 | 5.7 | 3.8 | 4.1 | 0 | 0 | 0 | 0 | – | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | (0.0) | 0.0 | 0 | 0 |
| Profitability | |||||||||||||||||||||||||||||||||||||
| EBITDA | (134.7) | (127.9) | (142.6) | (170.1) | (195.9) | (218.8) | (184.3) | (158.4) | (317.6) | (177.5) | (144.1) | (104.3) | (86.3) | (67.9) | (214.9) | (67.3) | (196.8) | (89.5) | (48.7) | (55.3) | (56.0) | (56.0) | (206.1) | (163.2) | (160.6) | (150.9) | (135.0) | (90.5) | (199.2) | (54.5) | (54.9) | (38.1) | (85.4) | 79.3 | (39.6) | (25.2) | (18.9) |
| EBIT | (136.9) | (130.3) | (145.2) | (173.2) | (197.9) | (221.1) | (186.8) | (160.4) | (319.6) | (178.9) | (146.0) | (105.9) | (88.2) | (69.6) | (215.2) | (67.6) | (197.2) | (89.8) | (49.4) | (55.5) | (56.3) | (56.3) | (215.5) | (197.2) | (180.4) | (177.8) | (146.9) | (110.2) | (215.0) | (69.0) | (61.3) | (39.3) | (85.4) | 100.4 | (43.1) | (38.4) | (18.9) |
| Income Before Tax | (136.9) | (130.3) | (145.2) | (173.2) | (197.9) | (221.1) | (186.8) | (160.4) | (319.6) | (178.9) | (146.0) | (105.9) | (88.2) | (69.6) | (215.2) | (67.6) | (197.2) | (89.8) | (49.4) | (55.5) | (49.4) | (49.9) | (212.8) | (191.2) | (180.3) | (172.2) | (149.3) | (105.8) | (211.0) | (62.2) | (61.3) | (39.2) | (85.4) | 99.5 | (42.9) | (38.0) | (18.6) |
| Income Tax Expense | 0.4 | 0.3 | 0.4 | 0.2 | 0.3 | 0.6 | 0.0 | (0.1) | 0.2 | 0.6 | (1.2) | (3.3) | 2.2 | 0.9 | (14.1) | 1.2 | 6.1 | 7.3 | 2.5 | (1.1) | 4.3 | 3.8 | 4.9 | 4.0 | 0.7 | 0.7 | (0.1) | 0.3 | 0.1 | 0.1 | 0.2 | 0.0 | 0.1 | (0.6) | 0.1 | 0.4 | 0.2 |
| Net Income | (137.3) | (130.5) | (145.6) | (173.4) | (198.1) | (221.7) | (186.8) | (160.3) | (319.8) | (179.5) | (144.8) | (102.6) | (90.3) | (70.5) | (201.1) | (68.9) | (203.3) | (97.0) | (51.9) | (54.4) | (210.6) | (265.0) | (217.7) | (195.2) | (180.9) | (172.9) | (149.3) | (106.2) | (211.1) | (62.3) | (61.4) | (39.3) | (85.5) | 100.1 | (42.9) | (38.4) | (18.8) |
| Per Share Data | |||||||||||||||||||||||||||||||||||||
| EPS (Basic) | -0.91 | -0.88 | -1.21 | -1.64 | -1.94 | -2.17 | -1.85 | -1.70 | -3.64 | -2.20 | -1.81 | -1.50 | -1.32 | -1.03 | -3.30 | -1.75 | -5.67 | -2.71 | -1.45 | -1.52 | -3.23 | -4.27 | -4.49 | -3.27 | -3.08 | -3.07 | -2.85 | -2.04 | -4.67 | -1.41 | -1.53 | -1.01 | -2.32 | 2.75 | -1.19 | -1.48 | -1.43 |
| EPS (Diluted) | -0.91 | -0.88 | -1.21 | -1.64 | -1.94 | -2.17 | -1.85 | -1.70 | -3.64 | -2.20 | -1.81 | -1.50 | -1.32 | -1.03 | -3.30 | -1.75 | -5.67 | -2.71 | -1.45 | -1.52 | -3.23 | -4.27 | -4.49 | -3.27 | -3.08 | -3.07 | -2.85 | -2.04 | -4.67 | -1.41 | -1.53 | -1.01 | -2.32 | 2.75 | -1.19 | -1.48 | -1.43 |
| Shares Outstanding | 150.6 | 147.6 | 120.2 | 105.8 | 102.4 | 101.9 | 101.1 | 94.4 | 87.8 | 81.6 | 79.9 | 68.3 | 68.2 | 68.2 | 60.9 | 39.4 | 35.8 | 35.8 | 35.8 | 39.4 | 65.1 | 48.5 | 48.5 | 59.7 | 58.7 | 56.4 | 52.5 | 52.1 | 45.2 | 44.2 | 40.1 | 38.9 | 36.8 | 36.4 | 35.9 | 26.0 | 13.1 |
| Metric | 2026 Q2 | 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 Q3 | 2017 Q2 | 2017 Q1 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Assets | |||||||||||||||||||||||||||||||||||||
| Cash & Cash Equivalents | 238.0 | 273.1 | 230.0 | 184.8 | 165.8 | 98.4 | 99.1 | 84.4 | 239.1 | 182.7 | 248.4 | 111.7 | 147.6 | 125.0 | 204.9 | 50.7 | 23.2 | (76.1) | 76.1 | 501.4 | 306.3 | (82.5) | 82.5 | 316.2 | 261.1 | 428.2 | 316.7 | 416.6 | 465.7 | 217.4 | 264.2 | 168.2 | 217.5 | 104.2 | 175.8 | 204.3 | 52.3 |
| Short-Term Investments | 29.8 | 74.7 | 89.2 | 75.4 | 239.2 | 224.3 | 386.9 | 294.4 | 197.8 | 100.7 | 133.4 | 128.9 | 187.5 | 263.0 | 260.5 | 0 | 0 | 152.1 | 0 | 19.0 | 59.8 | 165.0 | 0 | 230.0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Receivables | 0 | 0 | 0 | 0 | 0 | 0 | 2.6 | 5.3 | 7.5 | 8.4 | 13.3 | 0 | 11.3 | 47.7 | 46.1 | 0 | 0 | 0 | 9.9 | 253.0 | 168.6 | 0 | 0 | 79.5 | 44.8 | 4.3 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 74.9 | 64.1 | 0 | 0 | 20.1 | 9.0 | 4.6 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Assets | 28.7 | 3.2 | 2.2 | 8.4 | 8.4 | 3.6 | 0.5 | 1.2 | 7.3 | 10.7 | 12.1 | 36.0 | 60.1 | 82.3 | 54.5 | 12.0 | 9.1 | 0 | 2.1 | 96.1 | 67.8 | (82.5) | 0.0 | 62.4 | 47.7 | 37.3 | 11.6 | 6.6 | 8.6 | 10.0 | 8.1 | 14.8 | 10.2 | 10.5 | 3.7 | 4.3 | 0.9 |
| Total Current Assets | 296.6 | 385.6 | 368.3 | 323.6 | 474.8 | 382.8 | 538.5 | 440.5 | 511.3 | 348.7 | 442.4 | 310.6 | 434.1 | 544.5 | 587.0 | 80.5 | 46.8 | 76.1 | 94.8 | 944.4 | 666.6 | 82.5 | 89.8 | 708.3 | 362.6 | 474.4 | 328.3 | 423.2 | 474.4 | 227.4 | 272.3 | 183.0 | 227.6 | 114.7 | 179.5 | 208.6 | 53.2 |
| Non-Current Assets | |||||||||||||||||||||||||||||||||||||
| Property, Plant & Equipment | 15.1 | 15.3 | 61.0 | 62.7 | 52.8 | 53.2 | 53.7 | 47.2 | 48.6 | 47.6 | 48.6 | 49.9 | 50.5 | 51.5 | 52.4 | 24.0 | 20.2 | 14.5 | 18.2 | 10.4 | 10.9 | 11.3 | 13.6 | 8.8 | 9.0 | 8.9 | 8.2 | 7.5 | 7.4 | 7.2 | 6.2 | 4.9 | 3.8 | 2.9 | 0.3 | 0.1 | 0.0 |
| Goodwill | 1.4 | 1.4 | 1.4 | 1.4 | 1.4 | 1.4 | 1.4 | 1.4 | 1.4 | 1.4 | 1.4 | 1.4 | 1.4 | 1.4 | 1.4 | 1.4 | 1.4 | 0 | 1.4 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 18.4 | 18.4 | 18.4 | 18.4 | 18.4 | 18.4 | 18.4 | 18.4 | 18.4 | 18.4 | 18.4 | 18.5 | 18.4 | 18.4 | 18.4 | 18.8 | 18.8 | 55.9 | 18.4 | 57.0 | 57.5 | 58.2 | 0 | 39.8 | 40.5 | 41.3 | 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 | 2.3 | 2.6 | 0 | 10 | 10 | 0 | 6 | 0 | 0 | 0 | 7.2 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 39.3 | 45.7 | 2.3 | 3.0 | 3.0 | 3.2 | 3.1 | 3.0 | 3.0 | 2.4 | 2.4 | 2.4 | 2.4 | 2.7 | 2.6 | 1.0 | 1.0 | (146.5) | 3.2 | 119.4 | 110.9 | (152.0) | 1.0 | 25.1 | 12.2 | 8.0 | 7.8 | 8.5 | 9.1 | 10.6 | 11.4 | 7.2 | 7.9 | 8.5 | 4.9 | 5.5 | 7.0 |
| Total Non-Current Assets | 74.2 | 80.8 | 83.1 | 85.5 | 75.6 | 76.2 | 76.6 | 70.0 | 71.4 | 69.8 | 70.8 | 72.2 | 72.6 | 74.0 | 74.8 | 55.1 | 51.5 | (76.1) | 47.2 | 186.8 | 179.3 | (82.5) | 21.7 | 73.7 | 61.7 | 58.2 | 16.0 | 15.9 | 16.6 | 17.7 | 17.7 | 12.1 | 11.7 | 11.5 | 5.2 | 5.6 | 7.0 |
| Total Assets | 370.7 | 466.4 | 451.4 | 409.1 | 550.4 | 458.9 | 615.1 | 510.5 | 582.6 | 418.5 | 513.2 | 382.7 | 506.7 | 618.5 | 661.8 | 135.6 | 98.2 | 1,371.7 | 142.1 | 1,131.2 | 845.9 | 1,003.2 | 111.5 | 782.0 | 424.3 | 532.7 | 344.3 | 439.1 | 490.9 | 245.1 | 290.0 | 195.1 | 239.3 | 126.1 | 184.7 | 214.3 | 60.2 |
| Current Liabilities | |||||||||||||||||||||||||||||||||||||
| Account Payables | 12.1 | 10.4 | 11.6 | 17.5 | 19.6 | 19.1 | 18.0 | 19.7 | 17.3 | 36.4 | 15.6 | 9.5 | 12.0 | 14.5 | 10.7 | 4.7 | 6.4 | 0 | 4.8 | 49.4 | 60.0 | 64.6 | 2.8 | 44.0 | 17.0 | 29.7 | 14.1 | 11.6 | 13.5 | 8.2 | 10.8 | 4.7 | 4.0 | 9.1 | 8.8 | 6.0 | 4.0 |
| Short-Term Debt | 4.7 | 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 | 4.8 | 4.5 |
| Deferred Revenue | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 7.4 | 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 Liabilities | 45.9 | 4.4 | 59.5 | 40.2 | 38.1 | 88.3 | 84.7 | 84.9 | 92.1 | 5.4 | 0.8 | 0.0 | 40.4 | 87.9 | 14.6 | 4.2 | 6.2 | 576.1 | 9.5 | 412.8 | 339.1 | 331.2 | 7.5 | 173.1 | 149.4 | 92.4 | 52.1 | 35.6 | 31.2 | 15.5 | 8.8 | 10.6 | 8.7 | 7.8 | 13.4 | 6.8 | 6.9 |
| Total Current Liabilities | 62.7 | 52.1 | 115.9 | 113.0 | 124.3 | 164.0 | 154.2 | 152.3 | 156.2 | 86.6 | 55.4 | 62.2 | 87.8 | 114.0 | 90.0 | 28.4 | 65.8 | 576.1 | 41.9 | 462.3 | 399.1 | 395.8 | 29.9 | 217.1 | 166.4 | 122.1 | 66.2 | 47.2 | 44.7 | 23.7 | 19.5 | 15.3 | 12.8 | 16.9 | 22.1 | 17.5 | 15.4 |
| Non-Current Liabilities | |||||||||||||||||||||||||||||||||||||
| Long-Term Debt | 259.5 | 241.9 | 238.9 | 268.3 | 257.1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 634.1 | 0 | 619.3 | 274.1 | 270.8 | 0 | 264.1 | 0 | 0 | 0 | 0 | 0 | 0 | 117.5 | 0 | 0 | 0 | 0 | 0 | 0.6 |
| Deferred Tax Liabilities | 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 | 3.5 | 4.6 | 4.6 | 4.6 | 4.6 | 4.6 | 4.7 | 16.9 | 16.5 | 3.4 | 2.2 | 2.3 | 2.5 | 2.5 | 2.4 | 2.9 | 3.0 | 627.9 | 2.6 | 580.9 | 569.2 | 554.8 | 1.9 | 454.6 | 293.3 | 288.6 | 285.5 | 272.9 | 259.5 | 124.4 | 2.0 | 114.0 | 107.7 | 1.5 | 6.4 | 3.9 | 23.8 |
| Total Non-Current Liabilities | 295.9 | 284.8 | 283.4 | 313.3 | 291.5 | 35.4 | 37.4 | 42.2 | 42.7 | 30.5 | 29.8 | 30.6 | 31.6 | 32.3 | 33.0 | 7.0 | 7.4 | 1,262.0 | 5.4 | 1,200.1 | 843.4 | 825.5 | 4.8 | 718.7 | 293.3 | 288.6 | 285.5 | 272.9 | 259.5 | 124.4 | 119.6 | 114.0 | 107.7 | 1.5 | 6.4 | 3.9 | 24.4 |
| Total Liabilities | 358.5 | 336.9 | 399.4 | 426.3 | 415.8 | 199.5 | 191.7 | 194.5 | 198.9 | 117.1 | 85.2 | 92.7 | 119.5 | 146.3 | 123.0 | 35.4 | 73.2 | 1,838.1 | 47.4 | 1,662.4 | 1,242.5 | 1,221.3 | 34.7 | 935.8 | 459.7 | 410.7 | 351.7 | 320.1 | 304.2 | 148.1 | 139.1 | 129.3 | 120.5 | 18.3 | 28.5 | 21.4 | 39.8 |
| Stockholders' Equity | |||||||||||||||||||||||||||||||||||||
| Common Stock | 2,138.9 | 2,132.9 | 1,934.3 | 1,743.7 | 1,743.1 | 1,689.3 | 1,656.7 | 1,381.7 | 1,298.6 | 911.0 | 887.5 | 618.8 | 617.5 | 616.2 | 615.7 | 100.2 | 25.0 | 2,112.7 | 1,676.8 | 1,633.5 | 1,618.2 | 1,604.0 | 16.8 | 1,205.4 | 1,199.0 | 1,175.1 | 881.4 | 874.6 | 845.0 | 556.3 | 554.4 | 418.3 | 413.2 | 367.7 | 310.6 | 310.6 | 20.3 |
| Retained Earnings | (2,352.4) | (2,215.1) | (2,084.5) | (1,939.0) | (1,765.5) | (1,567.4) | (1,345.7) | (1,158.9) | (998.6) | (678.8) | (499.3) | (354.5) | (252.0) | (161.6) | (91.1) | 0 | 0 | (2,702.2) | (2,585.8) | (2,386.6) | (2,214.8) | (2,004.1) | 0 | (1,521.4) | (1,326.2) | (1,145.3) | (972.4) | (823.1) | (716.9) | (505.9) | (443.6) | (388.8) | (327.4) | (288.1) | (175.6) | (132.6) | (94.2) |
| Accumulated Other Comprehensive Income | 5.4 | 8.3 | 8.3 | 0.0 | (0.0) | 0.1 | 0.1 | 0.1 | (0.1) | (0.1) | (0.1) | 0.2 | 0.0 | 0.2 | 0.3 | 0 | 0 | 34.7 | 0 | 0.1 | 0.3 | 16.8 | 0 | 0.3 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Stockholders' Equity | 12.2 | 129.5 | 52.1 | (17.2) | 134.6 | 259.5 | 423.4 | 316.0 | 383.7 | 301.4 | 428.0 | 290.0 | 387.3 | 472.3 | 538.8 | 100.2 | 25.0 | 94.7 | 34.7 | (588.0) | (453.9) | 76.8 | 16.8 | (212.4) | (35.5) | 122.0 | (7.4) | 119.0 | 186.7 | 97.0 | 150.9 | 65.8 | 118.8 | 107.8 | 156.2 | 192.9 | (53.5) |
| Total Liabilities & Equity | 370.7 | 466.4 | 451.4 | 409.1 | 550.4 | 458.9 | 615.1 | 510.5 | 582.6 | 418.5 | 513.2 | 382.7 | 506.7 | 618.5 | 661.8 | 135.6 | 98.2 | 1,371.7 | 142.1 | 1,074.4 | 788.6 | 76.8 | 111.5 | 723.5 | 424.3 | 532.7 | 344.3 | 439.1 | 490.9 | 245.1 | 290.0 | 195.1 | 239.3 | 126.1 | 184.7 | 214.3 | (13.7) |
| Debt Metrics | |||||||||||||||||||||||||||||||||||||
| Total Debt | 297.0 | 286.2 | 284.6 | 314.2 | 291.6 | 35.5 | 36.6 | 29.0 | 29.7 | 30.5 | 30.9 | 31.6 | 29.1 | 29.8 | 33.6 | 5.2 | 5.5 | 634.1 | 2.8 | 619.3 | 274.1 | 270.8 | 3.6 | 264.1 | 0 | 0 | 0 | 0 | 0 | 0 | 117.5 | 0 | 0 | 0 | 0 | 4.8 | 5.1 |
| Net Debt | 59.0 | 13.1 | 54.7 | 129.3 | 125.8 | (62.9) | (62.5) | (55.4) | (209.4) | (152.2) | (217.5) | (80.1) | (118.5) | (95.3) | (171.3) | (45.5) | (17.8) | 710.2 | (73.3) | 117.9 | (32.1) | 353.3 | (78.9) | (52.1) | (261.1) | (428.2) | (316.7) | (416.6) | (465.7) | (217.4) | (146.7) | (168.2) | (217.5) | (104.2) | (175.8) | (199.5) | (47.2) |
| Metric | 2026 Q2 | 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 Q1 | 2019 Q4 | 2019 Q1 | 2018 Q4 | 2018 Q1 | 2017 Q1 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Activities | |||||||||||||||||||||||||||||
| Net Income | (137.3) | (130.5) | (145.6) | (173.4) | (198.1) | (221.7) | (186.8) | (160.3) | (319.8) | (179.5) | (144.8) | (102.6) | (90.3) | (70.5) | (201.1) | (68.9) | (203.3) | (97.0) | (51.9) | (54.4) | (53.8) | (265.3) | (533.4) | (172.9) | (381.0) | (62.3) | (136.7) | (85.5) | (18.8) |
| Depreciation & Amortization | 2.3 | 2.4 | 2.6 | 3.1 | 2.0 | 2.2 | 2.5 | 2.0 | 2.0 | 1.4 | 1.9 | 1.5 | 1.8 | 1.6 | 0.3 | 0.4 | 0.4 | 0.2 | 0.7 | 0.2 | 0.2 | 0.2 | 9.4 | 0 | (0.0) | 0 | (0.0) | 0.0 | 0.0 |
| Stock-Based Compensation | 19.2 | 28.3 | 17.0 | 21.5 | 20.8 | 53.1 | 12.7 | 12.2 | 12.2 | 34.9 | 15.9 | 4.5 | 4.7 | 3.8 | 115.6 | 17.0 | 20.8 | 40.1 | 13.0 | 15.4 | 18.6 | 48.7 | 33.2 | 16.9 | 44.6 | 7.3 | 12.0 | 3.1 | 1.9 |
| Change in Working Capital | 16.7 | (53.1) | (9.8) | (3.0) | 18.6 | (4.4) | (6.0) | 20.5 | (23.3) | 25.6 | (8.7) | 2.8 | 41.4 | (10.8) | (1.0) | (44.1) | 20.2 | (3.7) | 6.6 | (8.7) | (0.9) | (18.0) | (4.0) | 6.5 | (1.7) | (2.5) | (6.9) | 4.2 | 2.7 |
| Other Non-Cash Items | 14.1 | 3.0 | 5.2 | 6.1 | (11.1) | 5.6 | 7.0 | (15.6) | 161.1 | 14.9 | 20.8 | (1.0) | (1.9) | (1.7) | 10.7 | 0 | 94.0 | 1.5 | (1.5) | 3.7 | 1.3 | 28.7 | (10.6) | (1.2) | 85.0 | 10.6 | 16.8 | 0.8 | 9.2 |
| Operating Cash Flow | (85.1) | (149.9) | (130.7) | (145.7) | (167.9) | (165.1) | (170.7) | (141.3) | (167.8) | (102.6) | (114.9) | (94.8) | (44.4) | (77.6) | (75.4) | (95.6) | (67.9) | (58.8) | (33.1) | (43.7) | (34.5) | (205.7) | (505.3) | (150.7) | (248.9) | (46.9) | (108.0) | (81.5) | (7.7) |
| Investing Activities | |||||||||||||||||||||||||||||
| Capital Expenditure | (0.5) | 0 | (0.0) | (0.0) | (0.2) | (0.5) | (0.0) | (0.6) | (2.9) | (0.4) | (0.5) | (1.2) | (0.6) | (0.7) | (0.3) | (4.5) | (36.0) | (0.2) | (0.2) | (0.0) | (0.4) | (1.2) | (0.3) | (1.0) | (1.1) | (1.0) | (3.8) | (0.4) | (0.0) |
| Acquisitions | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | (0.1) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0.9 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Purchases of Investments | (29.7) | (19.8) | (88.7) | 0 | (133.5) | (44.7) | (279.6) | (222.8) | (196.2) | (47.1) | (111.3) | (29.4) | (23.6) | (29.8) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | (319.4) | 0 | 1.4 | 0 | (3.4) | (1.4) | (1.6) |
| Sales/Maturities of Investments | 75 | 35 | 75 | 165 | 120 | 210 | 192 | 130 | 101.2 | 81.2 | 107.9 | 89.2 | 100.4 | 29.5 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 121.0 | 95.0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Investing Activities | 0 | 0 | 0 | (0.0) | (1.8) | 0 | 0 | 0 | 0 | 0.4 | 0 | 0 | 0.1 | 0 | (263.7) | 0 | (35) | 0 | 0 | 0 | 0 | 0 | (20.8) | (22.4) | (1.2) | 0 | (0.1) | 0 | 0.1 |
| Investing Cash Flow | 44.8 | 15.2 | (13.7) | 165.0 | (15.5) | 164.9 | (87.7) | (93.4) | (97.9) | 34.0 | (3.9) | 58.5 | 76.3 | (1.1) | (264.0) | (4.5) | (36.0) | (0.2) | (0.2) | (0.0) | 0.6 | 119.8 | (245.5) | (23.4) | (1.0) | (1.0) | (7.2) | (1.7) | (1.6) |
| Financing Activities | |||||||||||||||||||||||||||||
| Net Debt Issuance | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | (2.4) | 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 |
| 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 |
| Other Financing Activities | 0 | 0 | (0.2) | 0.1 | 248.8 | 0 | 1.6 | 4.0 | 321.1 | 3.4 | 245.2 | (39.7) | (20.3) | 26.7 | 530.2 | 127.5 | 86.8 | 23.0 | (252.4) | 315.0 | 37.9 | 95.8 | 502.2 | 285.6 | 377.5 | 1.1 | 246.5 | 56.0 | 38.0 |
| Financing Cash Flow | 3.8 | 179.0 | 188.8 | 0.1 | 249.8 | 0.4 | 272.9 | 80.4 | 321.1 | 3.4 | 245.2 | (39.7) | (20.3) | 26.7 | 530.2 | 127.5 | 86.8 | 23.0 | (252.4) | 315.0 | 37.9 | 421.0 | 502.2 | 285.6 | 377.5 | 1.1 | 246.5 | 56.0 | 38.0 |
| Cash Position | |||||||||||||||||||||||||||||
| Net Change in Cash | (36.5) | 44.3 | 44.4 | 19.4 | 66.3 | 0.1 | 14.5 | (154.3) | 55.4 | (65.2) | 126.1 | (76.0) | 11.4 | (52.0) | 191.2 | 27.5 | (17.0) | (36.0) | (285.6) | 271.3 | 4.0 | 335.1 | (295.0) | 111.5 | 100.3 | (46.8) | 131.3 | (27.3) | 28.7 |
| Cash at Beginning | 277.1 | 232.8 | 188.4 | 169.0 | 102.7 | 102.5 | 88.0 | 242.3 | 186.9 | 252.1 | 126.0 | 201.9 | 190.6 | 242.6 | 51.4 | 24.0 | 41.0 | 77.1 | 362.7 | 91.4 | 87.5 | 134.2 | 429.2 | 317.7 | 217.4 | 264.2 | 132.9 | 131.5 | 23.6 |
| Cash at End | 240.6 | 277.1 | 232.8 | 188.4 | 169.0 | 102.7 | 102.5 | 88.0 | 242.3 | 186.9 | 252.1 | 126.0 | 201.9 | 190.6 | 242.6 | 51.4 | 24.0 | 41.0 | 77.1 | 362.7 | 91.4 | 469.4 | 134.2 | 429.2 | 317.7 | 217.4 | 264.2 | 104.2 | 52.3 |
| Free Cash Flow | (85.6) | (149.9) | (130.7) | (145.7) | (168.2) | (165.6) | (170.8) | (141.9) | (170.7) | (103.1) | (115.4) | (96.1) | (45.0) | (78.4) | (75.7) | (100.1) | (103.9) | (59.1) | (33.3) | (43.8) | (34.9) | (206.9) | (505.6) | (151.7) | (250.1) | (47.9) | (111.7) | (81.9) | (7.7) |
| Key Metrics | 2026 Q2 | 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 Q3 | 2018 Q2 | 2018 Q1 | 2017 Q4 | 2017 Q3 | 2017 Q2 | 2017 Q1 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||||||||||||||||||||||||||
| Revenue | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 92.9 | 43.8 | 35.1 | 17.7 | 9.7 | 1.2 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Gross Profit | 0 | 0 | (1.0) | (1.1) | 0 | 0 | 0 | 0 | 0 | 0 | (0.9) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 75.6 | 31.0 | 25.1 | 13.4 | 6.6 | 0.7 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Operating Income | (124.9) | (130.4) | (142.7) | (169.4) | (211.7) | (221.6) | (189.9) | (178.2) | (333.8) | (183.2) | (153.7) | (110.5) | (94.0) | (77.8) | (213.4) | (67.6) | (197.1) | (89.8) | (50.9) | (55.5) | (171.9) | (235.7) | (170.7) | (163.2) | (160.6) | (150.9) | (135.0) | (90.5) | (199.2) | (54.5) | (54.9) | (38.1) | (83.4) | 79.3 | (39.6) | (25.2) | (14.5) |
| Net Income | (137.3) | (130.5) | (145.6) | (173.4) | (198.1) | (221.7) | (186.8) | (160.3) | (319.8) | (179.5) | (144.8) | (102.6) | (90.3) | (70.5) | (201.1) | (68.9) | (203.3) | (97.0) | (51.9) | (54.4) | (210.6) | (265.0) | (217.7) | (195.2) | (180.9) | (172.9) | (149.3) | (106.2) | (211.1) | (62.3) | (61.4) | (39.3) | (85.5) | 100.1 | (42.9) | (38.4) | (18.8) |
| EPS (Diluted) | -0.91 | -0.88 | -1.21 | -1.64 | -1.94 | -2.17 | -1.85 | -1.70 | -3.64 | -2.20 | -1.81 | -1.50 | -1.32 | -1.03 | -3.30 | -1.75 | -5.67 | -2.71 | -1.45 | -1.52 | -3.23 | -4.27 | -4.49 | -3.27 | -3.08 | -3.07 | -2.85 | -2.04 | -4.67 | -1.41 | -1.53 | -1.01 | -2.32 | 2.75 | -1.19 | -1.48 | -1.43 |
| Balance Sheet | |||||||||||||||||||||||||||||||||||||
| Cash & Equivalents | 238.0 | 273.1 | 230.0 | 184.8 | 165.8 | 98.4 | 99.1 | 84.4 | 239.1 | 182.7 | 248.4 | 111.7 | 147.6 | 125.0 | 204.9 | 50.7 | 23.2 | (76.1) | 76.1 | 501.4 | 306.3 | (82.5) | 82.5 | 316.2 | 261.1 | 428.2 | 316.7 | 416.6 | 465.7 | 217.4 | 264.2 | 168.2 | 217.5 | 104.2 | 175.8 | 204.3 | 52.3 |
| Total Assets | 370.7 | 466.4 | 451.4 | 409.1 | 550.4 | 458.9 | 615.1 | 510.5 | 582.6 | 418.5 | 513.2 | 382.7 | 506.7 | 618.5 | 661.8 | 135.6 | 98.2 | 1,371.7 | 142.1 | 1,131.2 | 845.9 | 1,003.2 | 111.5 | 782.0 | 424.3 | 532.7 | 344.3 | 439.1 | 490.9 | 245.1 | 290.0 | 195.1 | 239.3 | 126.1 | 184.7 | 214.3 | 60.2 |
| Total Debt | 297.0 | 286.2 | 284.6 | 314.2 | 291.6 | 35.5 | 36.6 | 29.0 | 29.7 | 30.5 | 30.9 | 31.6 | 29.1 | 29.8 | 33.6 | 5.2 | 5.5 | 634.1 | 2.8 | 619.3 | 274.1 | 270.8 | 3.6 | 264.1 | 0 | 0 | 0 | 0 | 0 | 0 | 117.5 | 0 | 0 | 0 | 0 | 4.8 | 5.1 |
| Stockholders' Equity | 12.2 | 129.5 | 52.1 | (17.2) | 134.6 | 259.5 | 423.4 | 316.0 | 383.7 | 301.4 | 428.0 | 290.0 | 387.3 | 472.3 | 538.8 | 100.2 | 25.0 | 94.7 | 34.7 | (588.0) | (453.9) | 76.8 | 16.8 | (212.4) | (35.5) | 122.0 | (7.4) | 119.0 | 186.7 | 97.0 | 150.9 | 65.8 | 118.8 | 107.8 | 156.2 | 192.9 | (53.5) |
| Cash Flow | |||||||||||||||||||||||||||||||||||||
| Operating Cash Flow | (85.1) | (149.9) | (130.7) | (145.7) | (167.9) | (165.1) | (170.7) | (141.3) | (167.8) | (102.6) | (114.9) | (94.8) | (44.4) | (77.6) | (75.4) | (95.6) | (67.9) | (58.8) | (33.1) | (43.7) | (34.5) | (205.7) | (505.3) | (150.7) | (248.9) | (46.9) | (108.0) | (81.5) | (7.7) | ||||||||
| Capital Expenditure | (0.5) | 0 | (0.0) | (0.0) | (0.2) | (0.5) | (0.0) | (0.6) | (2.9) | (0.4) | (0.5) | (1.2) | (0.6) | (0.7) | (0.3) | (4.5) | (36.0) | (0.2) | (0.2) | (0.0) | (0.4) | (1.2) | (0.3) | (1.0) | (1.1) | (1.0) | (3.8) | (0.4) | (0.0) | ||||||||
| Free Cash Flow | (85.6) | (149.9) | (130.7) | (145.7) | (168.2) | (165.6) | (170.8) | (141.9) | (170.7) | (103.1) | (115.4) | (96.1) | (45.0) | (78.4) | (75.7) | (100.1) | (103.9) | (59.1) | (33.3) | (43.8) | (34.9) | (206.9) | (505.6) | (151.7) | (250.1) | (47.9) | (111.7) | (81.9) | (7.7) | ||||||||