Denali Therapeutics Inc. logo DNLI - Denali Therapeutics Inc.

Price: -- -- | CONSENSUS: Buy DETAILS
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| PRICE TARGET: $30.80 DETAILS
HIGH: $40.00
LOW: $23.00
MEDIAN: $31.00
CONSENSUS: $30.80
UPSIDE: 65.24%
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
Revenue
Revenue 0 0 0 0 0 0 0 0 0 0 1.3 294.1 35.1 10.3 3.6 52.5 42.1 12.5 5.3 22.9 7.9 316.8 9.4 5.8 3.6 4.7 13.6 4.2 4.2 125.7 1.2 1.6 0.6 0 0 0 0 0 0 0 0
Cost of Revenue 2.8 2.9 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
Gross Profit (2.8) (2.9) 0 0 0 0 0 0 0 0 1.3 294.1 35.1 10.3 3.6 52.5 42.1 12.5 5.3 22.9 7.9 316.8 9.4 5.8 3.6 4.7 13.6 4.2 4.2 125.7 1.2 1.6 0.6 0 0 0 0 0 0 0 0
Operating Expenses
R&D Expenses 103.8 97.9 102.0 102.7 116.2 99.8 98.2 91.4 107.0 107.8 89.7 97.5 128.8 92.1 87.8 92.7 86.1 67.9 71.6 65.7 60.2 54.7 53.7 53.2 51.0 51.6 52.5 51.9 37.4 39.9 30.3 52.1 20.8 18.5 18.5 19.0 18.5 16.7 27.8 15.6 15.6
SG&A Expenses 30.7 36.6 35.5 32.3 29.4 30.1 24.9 25.2 25.2 24.8 25.3 26.1 27.1 23.5 23.3 21.2 22.5 21.8 19.3 19.0 18.9 18.0 15.8 14.0 12.6 10.9 11.2 15.1 9.3 11.0 8.8 6.9 5.6 5.1 3.8 3.6 3.3 3.0 3.1 2.8 2.8
Other Expenses 0 0 0 0 0 0 0 0 (14.5) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0.1 0 0 0
Operating Expenses 134.5 134.5 137.4 135.0 145.6 129.8 123.2 116.6 117.7 132.6 115.1 123.6 156.0 115.6 111.0 113.9 108.6 89.6 90.9 84.8 79.1 72.7 69.5 67.1 63.6 62.4 63.8 67.0 46.7 51.0 39.2 59.0 26.4 23.5 22.3 22.6 21.7 19.9 30.9 18.4 18.4
Operating Income
Operating Income (137.4) (137.4) (137.4) (135.0) (145.6) (129.8) (123.2) (116.6) (117.7) (132.6) (113.8) 170.5 (120.8) (105.3) (107.5) (61.4) (66.5) (77.1) (85.6) (61.8) (71.2) 244.1 (60.1) (61.3) (60.0) (57.8) (50.2) (62.8) (42.5) 74.7 (38.0) (57.4) (25.7) (23.5) (22.3) (22.6) (21.7) (19.9) (25.6) (18.4) (18.4)
Interest Expense 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
Interest Income 8.9 8.9 10.5 10.8 12.6 15.2 16.0 17.6 15.9 13.1 14.4 12.9 11.0 6.7 4.2 2.6 1.3 1.3 1.0 1.1 1.2 1.6 1.9 2.6 3.1 3.8 3.8 4.1 3.5 2.8 2.6 2.7 2.1 0.7 0.4 0.4 0.4 0.4 0.3 0.0 0.0
Profitability
EBITDA (134.5) (124.7) (133.6) (131.0) (142.4) (127.2) (120.9) (114.7) (130.1) (130.4) (111.6) 172.8 (110.8) (101.3) (105.3) (59.3) (64.4) (75.0) (83.4) (59.6) (69.1) 246.2 (58.0) (59.1) (57.9) (55.7) (48.3) (61.1) (40.1) 77.1 (35.6) (55.5) (24.9) (22.7) (21.5) (21.8) (21.0) (19.1) (25.2) (18.2) (18.2)
EBIT (137.4) (128.4) (137.4) (135.0) (145.6) (129.8) (123.2) (116.6) (132.3) (132.6) (113.8) 170.5 (120.8) (105.3) (107.5) (61.4) (66.5) (77.1) (85.6) (61.8) (71.2) 244.1 (60.1) (61.3) (60.0) (57.8) (50.2) (62.8) (42.5) 74.7 (38.0) (57.4) (25.7) (23.5) (22.3) (22.6) (21.7) (19.8) (25.6) (18.4) (18.4)
Income Before Tax (128.4) (128.4) (126.9) (124.1) (133.0) (114.7) (107.2) (99.0) (101.8) (119.4) (99.4) 183.4 (109.8) (98.7) (103.3) (58.8) (65.2) (75.8) (84.6) (60.7) (70.0) 245.7 (58.2) (58.7) (56.9) (54.0) (46.4) (58.6) (39.0) 77.5 (35.4) (54.7) (23.7) (22.9) (21.8) (22.1) (21.3) (19.4) (30.6) (18.3) (18.3)
Income Tax Expense 0 0.1 0 0 0 0.1 0 0 0 0.0 0 0 0 (0.0) 0 0.0 0 (0.6) 0 0 0 0.8 0.1 0.1 (0.1) 0.1 (0.1) (0.3) 0 0 0 0 0 0 0 0 0 0 0 0 0
Net Income (128.4) (128.5) (126.9) (124.1) (133.0) (114.8) (107.2) (99.0) (101.8) (119.5) (99.4) 183.4 (109.8) (98.7) (103.3) (58.8) (65.2) (75.3) (84.6) (60.7) (70.0) 244.9 (58.2) (58.8) (56.8) (54.0) (46.3) (58.3) (39.0) 77.5 (35.4) (54.7) (23.7) (22.9) (21.8) (22.1) (21.3) (19.4) (30.6) (18.3) (18.3)
Per Share Data
EPS (Basic) -0.69 -0.73 -0.74 -0.72 -0.78 -0.67 -0.63 -0.59 -0.68 -0.86 -0.72 1.34 -0.80 -0.74 -0.84 -0.48 -0.52 -0.62 -0.69 -0.50 -0.58 2.04 -0.54 -0.56 -0.55 -0.57 -0.48 -0.61 -0.41 0.82 -0.38 -0.59 -0.26 -0.74 -0.27 -0.32 -2.36 -2.15 -4.51 -3.37 -3.37
EPS (Diluted) -0.69 -0.73 -0.74 -0.72 -0.78 -0.67 -0.63 -0.59 -0.68 -0.86 -0.72 1.30 -0.80 -0.74 -0.84 -0.48 -0.52 -0.62 -0.69 -0.49 -0.58 1.91 -0.54 -0.56 -0.55 -0.56 -0.48 -0.61 -0.41 0.79 -0.38 -0.59 -0.26 -0.74 -0.27 -0.32 -2.36 -2.15 -4.51 -3.37 -3.37
Shares Outstanding 186.6 175.5 172.4 171.4 171.2 170.1 169.5 168.8 149.4 138.2 137.6 137.0 136.5 132.9 123.5 122.5 122.7 122.2 121.7 121.3 120.8 120.2 107.5 105.7 102.4 95.6 95.9 95.5 95.0 94.3 93.7 92.9 89.6 30.7 82.4 68.2 9.0 9.0 6.8 5.4 5.4
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
Current Assets
Cash & Cash Equivalents 387.6 205.3 91.0 141.2 56.9 175.0 90.6 74.7 60.6 127.1 148.0 132.0 68.1 218.0 118.6 155.1 105.0 293.5 394.6 485.7 435.3 507.1 351.0 137.2 207.5 79.4 82.7 62.9 39.7 77.1 43.7 33.1 44.0 218.4 36.3 41.3 (178.3) 39.9
Short-Term Investments 600.1 662.6 757.2 757.7 761.0 657.4 745.9 821.4 876.3 907.4 961.2 1,059.0 1,220.3 1,118.2 987.4 913.6 852.6 571.9 644.6 823.3 977.8 962.6 610.2 412.4 379.7 335.9 396.7 415.7 445.8 387.2 331.3 339.5 329.4 187.9 149.5 145.7 356.7 138.5
Net Receivables 1.6 2.2 1.9 0 0 2.2 0 0 0 3.4 0 0 0 9.3 0 0 0 1.2 0 16.8 0 0 0 0 0 0 0 0 0 8.5 0 0 0 0.5 0 0 0 0.4
Inventory 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 (8.5) 0 0 0 (0.5) 0 0 0 (0.4)
Other Current Assets 33.5 30.6 32.5 35.8 60.7 0 32.3 32.3 36.7 0 33.6 33.1 36.7 0 0 0.4 0 0 1.2 0 2.5 26.0 0 0 0 0 15.0 17.4 14.1 1.4 8.4 4.8 4.0 0 0 0 0 0
Total Current Assets 1,022.8 900.7 882.6 934.7 878.6 864.4 868.8 928.4 973.6 1,064.1 1,142.9 1,224.1 1,325.2 1,372.3 1,138.5 1,114.6 988.4 897.2 1,055.5 1,341.7 1,431.6 1,495.7 970.9 559.4 604.8 430.0 494.4 496.0 499.5 480.8 383.4 377.4 377.4 409.6 188.2 189.3 178.3 182.0
Non-Current Assets
Property, Plant & Equipment 117.3 119.9 123.2 130.1 129.9 125.6 113.2 72.6 72.2 71.6 74.9 67.2 70.2 74.5 73.0 68.5 67.9 69.6 71.2 72.0 73.6 73.5 75.2 76.9 79.1 80.7 81.8 81.8 71.4 25.2 16.2 13.3 14.9 14.9 14.6 15.0 0 15.3
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
Intangible Assets 36 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 66.9 101.4 27.8 78.5 235.8 359.4 445.5 451.0 490.7 0 7.9 0 0 0 0 94.2 250.3 425.4 319.5 92.5 38.9 34.2 20.3 7.2 9.7 39.9 23.5 55.8 97.6 147.9 142.2 178.7 219.4 60.8 5.0 25.9 0 73.1
Other Non-Current Assets 23.1 22.8 22.0 23.0 26.9 24.7 26.5 50.6 44.6 18.1 11.1 14.4 14.0 13.4 16.1 15.2 14.2 11.9 3.8 3.6 3.7 1.0 3.9 3.8 2.3 2.7 3.2 3.9 8.1 8.1 2.7 2.6 2.3 1.4 2.5 1.2 (178.3) 0.8
Total Non-Current Assets 243.3 244.2 173.0 231.5 392.7 509.7 585.2 574.2 607.5 89.8 93.9 81.7 84.2 87.9 89.1 177.9 332.4 506.9 394.5 168.1 116.2 108.6 99.4 87.9 91.1 123.2 108.6 141.6 177.1 181.1 161.1 194.6 236.5 77.1 22.1 42.1 (178.3) 89.1
Total Assets 1,266.0 1,144.9 1,055.6 1,166.2 1,271.3 1,374.2 1,454.0 1,502.6 1,581.1 1,153.9 1,236.8 1,305.7 1,409.3 1,460.2 1,227.6 1,292.5 1,320.9 1,404.2 1,450.0 1,509.8 1,547.9 1,604.3 1,070.3 647.3 695.9 553.2 603.0 637.6 676.6 662.0 544.5 572.1 614.0 486.7 210.3 231.4 0 271.1
Current Liabilities
Account Payables 40.4 3.3 6.7 10.8 8.5 11.1 9.6 13.9 11.9 9.5 1.2 8.5 2.2 2.8 7.5 7.1 3.4 4.8 4.8 4.2 1.6 1.1 2.8 1.9 2.3 2.6 2.0 3.9 3.7 1.9 3.4 9.2 1.4 2.7 2.3 1.4 0 2.0
Short-Term Debt 9.9 9.5 9.2 0 0 0 8.0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 4.7 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Deferred Revenue 15.1 0 22.6 0 0 0 0 0 0 0 0 0.8 289.8 290.1 290.5 0 290.6 320.3 0 9.2 0 23.5 72.9 34.1 24.7 18.7 18.2 22.6 23.1 11.4 12.7 8.7 8.4 0 0 0 0 0
Other Current Liabilities 35.6 85.5 33.3 31.9 25.0 38.9 54.6 19.8 20.6 21.6 16.3 10.3 7.4 17.1 13.3 290.4 5.8 19.0 4.8 6.3 16.5 22.0 9.0 5.5 3.9 8.7 3.5 2.1 12.4 9.5 10.8 13.5 9.4 0.9 0.9 0.9 0 0.7
Total Current Liabilities 110.2 98.4 90.1 91.1 91.9 102.2 87.1 74.5 82.6 78.0 71.2 69.4 391.1 363.9 360.7 348.2 341.2 378.2 54.3 51.4 54.6 71.7 105.4 58.5 47.6 45.3 46.7 46.5 43.2 32.8 31.6 31.0 17.2 14.2 10.2 10.8 0 9.1
Non-Current Liabilities
Long-Term Debt 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
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 0
Other Non-Current Liabilities 0 0 0 10.4 16.7 5.6 3.9 0 0 0 0.4 0.4 0.4 0.4 0.4 4.3 0.4 0.4 323.4 0.7 325.0 0.7 0.4 0.4 0.4 0.4 0.4 0.4 0.4 25.0 7.2 50.8 57.8 6.8 7.0 0 0 7.4
Total Non-Current Liabilities 229.8 32.7 39.3 48.1 56.8 42.3 48.4 41.0 43.0 45.0 47.3 49.6 51.6 53.9 55.6 59.9 61.7 63.6 383.4 385.7 387.9 382.1 82.3 86.7 102.9 113.0 118.1 115.9 116.7 82.4 51.7 50.8 57.8 6.8 7.0 0 0 7.4
Total Liabilities 339.9 131.1 129.4 139.2 148.7 144.5 135.5 115.5 125.6 123.0 118.4 118.9 442.6 417.8 416.3 408.0 402.9 441.9 437.7 437.1 442.5 453.7 187.8 145.2 150.6 158.3 164.8 162.4 159.9 115.1 83.3 81.8 74.9 20.9 17.2 10.8 0 16.5
Stockholders' Equity
Common Stock 1.9 1.9 1.8 1.8 1.8 1.8 1.8 1.8 1.8 1.7 1.7 1.7 1.7 1.7 1.6 1.6 1.6 1.5 1.5 1.5 1.5 1.5 1.5 1.4 1.4 1.3 1.3 1.3 1.3 1.3 1.3 1.3 1.3 1.2 2.8 0.4 0 2.7
Retained Earnings (2,180.0) (2,051.5) (1,923.0) (1,796.1) (1,672.0) (1,539.0) (1,424.2) (1,317.0) (1,218.0) (1,116.2) (996.7) (897.4) (1,080.8) (971.0) (872.3) (769.0) (710.2) (645.0) (569.7) (485.1) (424.5) (354.4) (599.3) (541.1) (482.3) (425.6) (371.5) (325.3) (266.9) (227.9) (305.5) (270.1) (215.4) (191.7) (168.8) (147.0) 0 (103.5)
Accumulated Other Comprehensive Income (0.7) 0.7 1.1 0.9 2.0 2.0 5.5 (2.7) (1.3) 0.6 (0.7) (1.4) (2.5) (6.9) (11.9) (12.3) (9.3) (2.5) (0.5) (0.4) (0.2) (0.2) 0.0 0.6 0.8 0.3 0.6 0.9 0.3 (0.6) (1.4) (1.5) (1.3) (0.4) (0.2) (0.4) (94.2) (0.4)
Total Stockholders' Equity 926.1 1,013.8 926.2 1,027.1 1,122.7 1,229.7 1,318.5 1,387.1 1,455.5 1,031.0 1,118.3 1,186.8 966.7 1,042.4 811.3 884.4 917.9 962.3 1,012.3 1,072.7 1,105.4 1,150.5 882.5 502.2 545.3 394.9 438.2 475.2 516.6 546.8 461.2 490.3 539.0 465.8 193.1 213.3 254.5 254.5
Total Liabilities & Equity 1,266.0 1,144.9 1,055.6 1,166.2 1,271.3 1,374.2 1,454.0 1,502.6 1,581.1 1,153.9 1,236.8 1,305.7 1,409.3 1,460.2 1,227.6 1,292.5 1,320.9 1,404.2 1,450.0 1,509.8 1,547.9 1,604.3 1,070.3 647.3 695.9 553.2 603.0 637.6 676.6 662.0 544.5 572.1 614.0 486.7 210.3 224.1 254.5 271.1
Debt Metrics
Total Debt 40.0 42.3 44.4 46.6 48.6 48.7 52.5 48.8 50.5 52.2 53.9 55.5 57.1 60.4 62.0 61.4 62.7 64.0 65.2 66.5 67.8 68.9 69.9 70.9 71.9 72.5 69.9 70.9 71.4 0 0 0 0 0 0 0 0 0
Net Debt (347.6) (163.0) (46.6) (94.6) (8.3) (126.3) (38.1) (25.9) (10.0) (74.9) (94.1) (76.4) (11.0) (157.7) (56.6) (93.7) (42.2) (229.5) (329.3) (419.2) (367.5) (438.3) (281.1) (66.2) (135.6) (6.9) (12.8) 8.0 31.8 (77.1) (43.7) (33.1) (44.0) (218.4) (36.3) (41.3) 178.3 (39.9)
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 (128.4) (128.5) (126.9) (124.1) (133.0) (114.8) (107.2) (99.0) (101.8) (119.5) (99.4) 183.4 (109.8) (98.7) (103.3) (58.8) (65.2) (75.3) (84.6) (60.7) (70.0) 244.9 (58.2) (58.8) (56.8) (54.0) (46.3) (58.3) (39.0) 77.5 (35.4) (54.7) (23.7) (22.9) (21.8) (22.1) (21.3) (19.4) (30.6) (18.3) (18.3)
Depreciation & Amortization 3.8 3.8 2.9 3.0 3.2 1.9 1.8 1.9 2.2 2.2 2.2 1.4 10.0 3.2 1.3 1.2 1.3 1.3 1.4 1.5 1.4 1.4 2.2 2.1 2.1 2.1 1.9 1.6 2.4 2.4 2.3 1.9 0.9 0.8 0.8 0.8 0.7 0.7 0.4 0.2 0.2
Stock-Based Compensation 23.1 24.0 0 0 25.2 25.1 0 25.1 27.8 26.0 27.5 0 28.1 0 0 0 0 0 0 0 0 0 13.3 0 10.8 0 8.9 13.7 6.9 5.6 5.5 4.7 2.9 1.5 1.1 1.1 0.8 0.7 1.2 0.6 0.6
Change in Working Capital (27.5) 5.0 (6.2) 23.3 (21.9) 10.6 30.4 (8.2) (15.8) 5.8 (4.4) (312.9) 21.6 0.7 21.0 (9.8) (36.0) (16.1) 18.1 (18.6) (3.8) 252.6 43.6 2.5 (9.6) (2.2) 6.4 1.5 0.7 8.5 (6.5) 7.0 53.9 2.4 (2.2) 2.3 0.8 (0.6) 1.6 0.8 0.8
Other Non-Cash Items (2.1) (2.7) 22.9 22.5 (4.9) (6.4) 15.9 (11.1) (26.0) (13.2) (13.3) 15.0 (8.7) 22.1 23.9 24.4 27.8 24.5 23.7 23.6 22.2 15.0 (0.7) 10.8 (1.0) 6.5 (0.1) (1.7) (1.3) (0.8) (0.8) (0.7) (0.4) (0.1) 0.2 0.5 0.2 0.2 6.2 0.4 0.4
Operating Cash Flow (131.2) (98.5) (107.3) (75.3) (131.5) (83.7) (59.1) (91.2) (113.6) (98.7) (87.4) (113.2) (58.8) (72.7) (57.0) (42.9) (72.1) (65.5) (41.4) (54.2) (50.2) 513.9 0.1 (43.4) (54.5) (47.6) (30.4) (43.2) (30.3) 93.2 (34.8) (41.8) 33.6 (18.3) (21.9) (17.6) (18.8) (18.4) (21.3) (16.4) (16.4)
Investing Activities
Capital Expenditure (2.5) (1.5) 1.4 (4.3) (5.1) (5.1) (3.9) (4.8) (2.1) (2.2) (2.1) (5.8) (2.8) (4.8) (6.0) (2.9) (4.0) (3.1) (1.9) (0.8) (2.8) (1.2) (0.7) (0.3) (0.9) (2.8) (2.8) (10.3) (2.0) (1.4) (0.8) (0.6) (0.5) (1.1) (0.4) (0.6) (0.9) (2.3) (2.3) (0.7) (0.7)
Acquisitions 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
Purchases of Investments (123.1) (252.7) (50.6) 0 (137.9) (173.7) (100.5) (121.6) (834.2) (413.7) (498.1) (378.1) (523.7) (486.7) (122.9) (141.1) (364.3) (231.4) (344.2) (384.2) (463.1) (597.9) (363.9) (170.5) (153.2) (150.6) (75.1) (34.2) (109.8) (157.3) (39.0) (33.6) (328.0) (133.1) (18.5) (11.2) (16.9) (30.6) 0 0 0
Sales/Maturities of Investments 220 275 107.1 162.2 161.8 351 198 225 383.1 489 601.1 552.0 433.8 364 144.3 232.6 250.5 193.8 293.1 482.5 440.5 231.8 152.5 140.4 140.7 195.7 127.5 108.4 103.8 97.3 84.5 64.8 27.3 39.1 35.4 33.9 33.2 14 0 0 0
Other Investing Activities 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 52.3 74.2 (6.0) (60.0) 45.6 31.1 (300.7) (94.1) 16.9 22.6 16.3 (16.6) (147.0) (24.6) (24.6)
Investing Cash Flow 94.5 20.8 57.8 157.9 18.7 172.2 93.7 98.6 (453.2) 73.0 100.9 168.1 (92.7) (127.6) 15.4 88.6 (117.9) (40.8) (53.0) 97.5 (25.4) (367.3) (212.1) (30.4) (13.3) 42.4 49.5 63.9 (8.0) (61.4) 44.7 30.5 (301.3) (95.1) 16.5 22.1 15.4 (18.9) (149.3) (25.4) (25.4)
Financing Activities
Net Debt Issuance (0.0) (0.0) (1.4) (2.4) (4.4) (8.3) (24.0) 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
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 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 200 0 0 0 0.6 4.2 0 0 1.0 4.7 0 0 1.6 0 0 0 0 0 0 0 0 0 5.8 0 2.0 0 0.7 2.6 0.9 1.7 0.7 1.4 (1.2) 265.6 0.4 0.1 0.3 (0.0) 7.7 146.4 146.4
Financing Cash Flow 219.0 192.1 (0.8) 1.6 (3.8) (4.2) (18.6) 6.8 500.3 4.7 2.5 9.0 1.6 299.7 5.2 4.4 1.5 5.2 3.3 7.0 3.8 9.5 425.9 3.4 195.9 2.0 0.7 2.6 0.9 1.7 0.7 1.4 93.2 295.6 0.4 0.1 0.3 (0.0) 7.7 146.4 146.4
Cash Position
Net Change in Cash 182.3 114.4 (50.2) 84.3 (116.5) 84.3 16.0 14.1 (66.5) (20.9) 16.0 63.8 (149.9) 99.4 (36.5) 50.1 (188.5) (101.1) (91.1) 50.4 (71.8) 156.1 213.9 (70.4) 128.1 (3.2) 19.7 23.3 (37.5) 33.5 10.6 (9.9) (174.5) 182.1 (5.6) 4.6 (3.1) (37.3) (162.9) 104.7 104.7
Cash at Beginning 208.4 94.1 141.2 56.9 176.5 92.2 74.7 60.6 128.7 149.6 132.0 68.1 219.5 118.6 155.1 105.0 293.5 394.6 485.7 435.3 507.1 351.0 138.7 207.5 80.9 82.7 64.4 41.2 78.6 45.2 34.6 44.5 218.9 36.3 41.8 37.3 40.4 77.2 240.1 135.4 0
Cash at End 390.7 208.4 91.0 141.2 60.1 176.5 90.6 74.7 62.1 128.7 148.0 132.0 69.6 218.0 118.6 155.1 105.0 293.5 394.6 485.7 435.3 507.1 352.5 137.2 209.0 79.4 84.2 64.4 41.2 78.6 45.2 34.6 44.5 218.4 36.3 41.8 37.3 39.9 77.2 240.1 104.7
Free Cash Flow (133.7) (100.1) (105.9) (79.6) (136.5) (88.8) (63.0) (96.0) (115.8) (100.9) (89.4) (119.0) (61.6) (77.5) (63.1) (45.8) (76.2) (68.5) (43.3) (55.0) (53.0) 512.7 (0.6) (43.7) (55.4) (50.4) (33.3) (53.4) (32.4) 91.7 (35.7) (42.4) 33.0 (19.4) (22.3) (18.1) (19.7) (20.7) (23.6) (17.1) (17.1)
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
Income Statement
Revenue 0 0 0 0 0 0 0 0 0 0 1.3 294.1 35.1 10.3 3.6 52.5 42.1 12.5 5.3 22.9 7.9 316.8 9.4 5.8 3.6 4.7 13.6 4.2 4.2 125.7 1.2 1.6 0.6 0 0 0 0 0 0 0 0
Gross Profit (2.8) (2.9) 0 0 0 0 0 0 0 0 1.3 294.1 35.1 10.3 3.6 52.5 42.1 12.5 5.3 22.9 7.9 316.8 9.4 5.8 3.6 4.7 13.6 4.2 4.2 125.7 1.2 1.6 0.6 0 0 0 0 0 0 0 0
Operating Income (137.4) (137.4) (137.4) (135.0) (145.6) (129.8) (123.2) (116.6) (117.7) (132.6) (113.8) 170.5 (120.8) (105.3) (107.5) (61.4) (66.5) (77.1) (85.6) (61.8) (71.2) 244.1 (60.1) (61.3) (60.0) (57.8) (50.2) (62.8) (42.5) 74.7 (38.0) (57.4) (25.7) (23.5) (22.3) (22.6) (21.7) (19.9) (25.6) (18.4) (18.4)
Net Income (128.4) (128.5) (126.9) (124.1) (133.0) (114.8) (107.2) (99.0) (101.8) (119.5) (99.4) 183.4 (109.8) (98.7) (103.3) (58.8) (65.2) (75.3) (84.6) (60.7) (70.0) 244.9 (58.2) (58.8) (56.8) (54.0) (46.3) (58.3) (39.0) 77.5 (35.4) (54.7) (23.7) (22.9) (21.8) (22.1) (21.3) (19.4) (30.6) (18.3) (18.3)
EPS (Diluted) -0.69 -0.73 -0.74 -0.72 -0.78 -0.67 -0.63 -0.59 -0.68 -0.86 -0.72 1.30 -0.80 -0.74 -0.84 -0.48 -0.52 -0.62 -0.69 -0.49 -0.58 1.91 -0.54 -0.56 -0.55 -0.56 -0.48 -0.61 -0.41 0.79 -0.38 -0.59 -0.26 -0.74 -0.27 -0.32 -2.36 -2.15 -4.51 -3.37 -3.37
Balance Sheet
Cash & Equivalents 387.6 205.3 91.0 141.2 56.9 175.0 90.6 74.7 60.6 127.1 148.0 132.0 68.1 218.0 118.6 155.1 105.0 293.5 394.6 485.7 435.3 507.1 351.0 137.2 207.5 79.4 82.7 62.9 39.7 77.1 43.7 33.1 44.0 218.4 36.3 41.3 (178.3) 39.9
Total Assets 1,266.0 1,144.9 1,055.6 1,166.2 1,271.3 1,374.2 1,454.0 1,502.6 1,581.1 1,153.9 1,236.8 1,305.7 1,409.3 1,460.2 1,227.6 1,292.5 1,320.9 1,404.2 1,450.0 1,509.8 1,547.9 1,604.3 1,070.3 647.3 695.9 553.2 603.0 637.6 676.6 662.0 544.5 572.1 614.0 486.7 210.3 231.4 0 271.1
Total Debt 40.0 42.3 44.4 46.6 48.6 48.7 52.5 48.8 50.5 52.2 53.9 55.5 57.1 60.4 62.0 61.4 62.7 64.0 65.2 66.5 67.8 68.9 69.9 70.9 71.9 72.5 69.9 70.9 71.4 0 0 0 0 0 0 0 0 0
Stockholders' Equity 926.1 1,013.8 926.2 1,027.1 1,122.7 1,229.7 1,318.5 1,387.1 1,455.5 1,031.0 1,118.3 1,186.8 966.7 1,042.4 811.3 884.4 917.9 962.3 1,012.3 1,072.7 1,105.4 1,150.5 882.5 502.2 545.3 394.9 438.2 475.2 516.6 546.8 461.2 490.3 539.0 465.8 193.1 213.3 254.5 254.5
Cash Flow
Operating Cash Flow (131.2) (98.5) (107.3) (75.3) (131.5) (83.7) (59.1) (91.2) (113.6) (98.7) (87.4) (113.2) (58.8) (72.7) (57.0) (42.9) (72.1) (65.5) (41.4) (54.2) (50.2) 513.9 0.1 (43.4) (54.5) (47.6) (30.4) (43.2) (30.3) 93.2 (34.8) (41.8) 33.6 (18.3) (21.9) (17.6) (18.8) (18.4) (21.3) (16.4) (16.4)
Capital Expenditure (2.5) (1.5) 1.4 (4.3) (5.1) (5.1) (3.9) (4.8) (2.1) (2.2) (2.1) (5.8) (2.8) (4.8) (6.0) (2.9) (4.0) (3.1) (1.9) (0.8) (2.8) (1.2) (0.7) (0.3) (0.9) (2.8) (2.8) (10.3) (2.0) (1.4) (0.8) (0.6) (0.5) (1.1) (0.4) (0.6) (0.9) (2.3) (2.3) (0.7) (0.7)
Free Cash Flow (133.7) (100.1) (105.9) (79.6) (136.5) (88.8) (63.0) (96.0) (115.8) (100.9) (89.4) (119.0) (61.6) (77.5) (63.1) (45.8) (76.2) (68.5) (43.3) (55.0) (53.0) 512.7 (0.6) (43.7) (55.4) (50.4) (33.3) (53.4) (32.4) 91.7 (35.7) (42.4) 33.0 (19.4) (22.3) (18.1) (19.7) (20.7) (23.6) (17.1) (17.1)