Natera, Inc. logo NTRA - Natera, Inc.

Price: -- -- | CONSENSUS: Buy DETAILS
STRONG
BUY
0
BUY 25
HOLD 2
SELL 0
STRONG
SELL
0
| PRICE TARGET: $261.75 DETAILS
HIGH: $285.00
LOW: $220.00
MEDIAN: $267.50
CONSENSUS: $261.75
UPSIDE: 28.82%
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 Q1
Revenue
Revenue 696.6 665.5 592.2 546.6 501.8 476.1 439.8 413.4 367.7 311.1 268.3 261.4 241.8 217.3 210.6 198.2 194.1 173.0 158.1 142.0 152.3 112.4 98.1 86.5 94.0 83.2 77.9 74.4 66.8 67.0 65.3 63.1 62.3 53.8 56.7 53.6 46.9 49.3 53.9 52.0 61.9 52.9 44.9 45.1 47.4 49.9 46.3 35.8 27.3 23.2 16.2 4.6
Cost of Revenue 245.2 218.7 207.8 199.5 184.6 176.4 168.0 170.2 159.1 151.2 147.3 143.1 148.1 127.3 116.5 109.2 103.2 94.1 81.4 76.1 66.8 59.9 51.8 46.9 45.0 44.5 43.9 43.8 43.3 42.8 41.7 41.0 40.6 36.7 34.6 34.6 33.7 38 34.3 31.0 32.3 31.8 30.5 25.7 24.8 22.7 20.8 19.0 15.9 12.8 9.5 6.0
Gross Profit 451.4 446.8 384.4 347.1 317.2 299.6 271.7 243.2 208.6 159.9 121.0 118.3 93.6 90.0 94.1 89.0 90.9 78.9 76.7 65.9 85.5 52.5 46.3 39.5 49.0 38.8 34.0 30.5 23.5 24.2 23.6 22.1 21.7 17.0 22.0 19.1 13.2 11.3 19.6 21.0 29.6 21.1 14.5 19.4 22.6 27.2 25.5 16.8 11.4 10.5 6.7 (1.4)
Operating Expenses
R&D Expenses 210.7 175.2 173.4 146.4 129.1 129.5 96.9 89.1 88.6 83.0 77.2 78.2 82.3 87.9 65.5 82.6 80.4 71.8 98.5 53.8 40.2 32.4 26.4 23.0 18.2 15.0 12.8 12.1 11.4 12.8 12.4 11.9 14.3 13.0 12.6 11.8 12.7 11.5 11.3 10.3 8.8 8.0 7.3 6.7 5.6 4.5 4.4 4.1 4.3 3.6 2.9 2.4
SG&A Expenses 327.9 291.3 308.5 310.5 266.9 234.9 214.2 198.0 194.3 161.4 154.7 152.5 149.6 143.8 147.7 149.5 147.6 146.8 128.5 127.5 108.3 94.1 75.7 68.2 65.7 58.6 56.7 47.0 43.8 41.1 38.4 37.4 37.9 48.9 34.5 34.3 37.6 37.4 34.9 33.2 30.4 30.4 27.9 28.1 23.2 18.3 16.3 13.9 14.4 10.5 8.1 6.1
Other Expenses 6.3 3.1 0 0.5 0.5 0 0 0 0 0 0 0.3 0.4 0 0 0.3 0.5 0 0 0 0 0 0 0 0 0 (14.4) 0 0 0 0 0 0 0 (0.4) (0.4) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Operating Expenses 545.0 469.6 482.0 457.4 396.4 364.4 311.1 287.1 282.9 244.4 232.0 230.7 231.9 231.7 213.2 232.0 228.0 218.6 226.9 181.2 148.5 126.5 102.1 91.2 83.9 73.6 55.1 59.2 55.3 53.9 50.8 49.3 52.3 62.0 47.1 46.1 50.2 49.0 46.3 43.5 39.2 38.4 35.2 34.8 28.9 22.8 20.7 18.0 18.7 14.1 11.1 8.5
Operating Income
Operating Income (93.5) (22.8) (97.6) (110.4) (79.2) (64.7) (39.3) (43.9) (74.3) (84.5) (111.0) (112.4) (138.3) (141.8) (119.1) (143.1) (137.1) (139.7) (150.2) (115.3) (63.0) (74.0) (55.8) (51.7) (34.9) (34.8) (21.1) (28.6) (31.7) (29.7) (27.2) (27.2) (30.5) (44.9) (25.0) (27.0) (37.0) (37.7) (26.7) (22.5) (9.6) (17.3) (20.7) (15.5) (6.3) 4.4 4.8 (1.2) (7.3) (3.6) (4.4) (9.9)
Interest Expense (0.9) 7.1 1.0 1.0 1.0 1.3 3.1 3.1 3.1 3.1 3.3 3.2 3.1 2.8 2.3 2.1 2.1 2.1 2.1 2.1 2.1 4.3 4.3 4.0 2.5 2.6 2.7 2.7 2.7 2.7 2.8 2.6 2.4 2.3 1.5 0.2 0.2 0.1 0.1 0.1 0.1 0.1 1.2 1.5 2.8 2.4 1.2 0.9 1.6 0 0 0
Interest Income 0 24.2 0 10.7 13.4 10.9 11.6 10.5 10.3 9.8 5.4 4.5 4.6 2.4 0.1 0.3 0.8 1.2 1.3 1.6 1.4 7.6 1.7 1.9 2.0 2.2 0 0 0.5 0 0.4 0 0.1 1.9 0 0 1.3 0 0.9 0 1.0 1.3 1.8 0 0 0 0.7 1.3 0 1.1 1.1 7.9
Profitability
EBITDA (73.3) (35.1) (76.4) (89.8) (56.5) (46.0) (19.5) (25.5) (53.4) (64.3) (95.0) (99.1) (124.8) (131.7) (110.5) (134.8) (130.0) (135.5) (143.2) (108.3) (56.4) (69.7) (51.8) (53.4) (31.1) (30.8) (18.5) (25.8) (29.4) (27.1) (24.8) (29.3) (28.5) (41.2) (24.4) (27.0) (34.0) (35.7) (24.0) (21.8) (8.6) (21.7) (16.5) (15.5) (4.6) 5.9 6.1 0.0 (6.9) (2.7) (3.9) (9.4)
EBIT (93.5) (6.2) (86.3) (99.6) (65.8) (53.8) (27.7) (33.4) (64.0) (74.7) (105.6) (107.9) (133.7) (139.4) (119.0) (142.8) (136.3) (138.5) (148.9) (113.7) (61.6) (72.1) (54.0) (55.6) (32.9) (32.6) (20.4) (27.8) (31.3) (29.1) (26.7) (31.2) (30.4) (43.0) (25.5) (28.8) (35.7) (37.7) (25.8) (23.0) (8.6) (23.2) (16.5) (18.2) (6.3) 2.5 4.9 0.4 (8.0) (3.6) (4.4) (9.9)
Income Before Tax (84.8) (13.3) (87.3) (100.7) (66.8) (55.1) (30.9) (36.6) (67.2) (77.8) (108.8) (111.1) (136.8) (142.2) (121.3) (145.0) (138.4) (140.6) (151.0) (115.8) (63.7) (76.4) (58.3) (59.6) (35.3) (35.2) (23.1) (30.5) (34.0) (31.9) (29.5) (33.7) (32.8) (45.3) (27.0) (27.7) (35.9) (37.9) (25.9) (23.2) (8.7) (23.0) (17.6) (19.7) (10.0) 1.3 3.7 (0.5) (9.6) (4.8) (5.5) (17.8)
Income Tax Expense 0.3 (60.6) 0.2 0.3 0.2 (1.4) 0.7 0.9 0.4 0.2 0.2 (0.3) 0.2 0.4 0.2 0.2 0.2 (0.0) 0.3 0.2 0.1 0.0 0.0 0.0 0.0 (0.0) 0.0 1.9 0.1 (0.0) 0.1 0.1 0.1 0.2 0.2 0.1 0.0 0.0 0.1 0 (0.0) 0 0 0 0 0 0 0 0 0 0 0
Net Income (85.1) 47.3 (87.5) (100.9) (66.9) (53.8) (31.6) (37.5) (67.6) (78.0) (109.0) (110.8) (136.9) (142.6) (121.5) (145.2) (138.6) (140.6) (151.3) (116.0) (63.9) (76.4) (58.3) (59.6) (35.4) (35.2) (23.1) (32.4) (34.1) (31.8) (29.6) (33.8) (32.9) (45.5) (27.1) (27.7) (36.0) (37.9) (26.0) (23.2) (8.7) (23.0) (17.6) (19.7) (10.0) 1.3 3.7 (0.5) (9.6) (4.8) (5.5) (17.8)
Per Share Data
EPS (Basic) -0.60 0.35 -0.64 -0.74 -0.50 -0.41 -0.26 -0.30 -0.56 -0.65 -0.95 -0.97 -1.23 -1.45 -1.25 -1.50 -1.45 -1.52 -1.63 -1.32 -0.74 -0.94 -0.72 -0.75 -0.45 -0.46 -0.33 -0.48 -0.54 -0.51 -0.49 -0.62 -0.61 -0.84 -0.51 -0.52 -0.68 -0.72 -0.50 -0.46 -0.17 -0.46 -0.39 -0.44 -0.22 0.03 0.00 -0.01 -0.26 -1.11 -1.50 -5.14
EPS (Diluted) -0.60 0.35 -0.64 -0.74 -0.50 -0.41 -0.26 -0.30 -0.56 -0.65 -0.95 -0.97 -1.23 -1.45 -1.25 -1.50 -1.45 -1.52 -1.63 -1.32 -0.74 -0.94 -0.72 -0.75 -0.45 -0.45 -0.33 -0.48 -0.54 -0.51 -0.49 -0.62 -0.61 -0.84 -0.51 -0.52 -0.68 -0.72 -0.50 -0.45 -0.17 -0.46 -0.39 -0.44 -0.22 0.03 0.00 -0.01 -0.26 -1.11 -1.50 -5.14
Shares Outstanding 141.5 136.7 137.2 136.4 134.8 124.7 123.8 122.9 120.8 119.3 114.8 113.7 111.3 98.4 97.1 96.6 95.6 92.6 92.6 88.1 86.7 80.9 80.9 79.1 78.3 76.6 70.1 68.2 62.8 62.0 60.4 54.6 53.9 53.9 53.4 52.8 52.8 52.4 52.0 50.3 50.4 50.3 44.9 44.7 44.7 36.7 36.7 36.7 36.7 4.3 3.7 3.5
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 1,087.9 1,076.1 1,041.4 1,000.0 973.8 945.6 892.8 796.8 813.8 642.1 668.7 381.1 403.2 466.1 57.0 91.3 158.3 84.4 95.1 62.8 65.1 48.7 209.4 77.3 74.1 61.9 51.6 29.9 34.3 46.4 34.5 12.3 33.7 12.6 11.2 7.1 9.1 15.3 25.3 16.6 34.0
Short-Term Investments 0 0 1 16.0 17.8 22.7 29.5 90.3 69.1 236.9 267.8 354.8 408.9 432.3 464.1 547.4 593.7 829.9 928.6 517.4 588.4 688.6 600.2 493.9 331.7 379.1 186.7 208.1 93.8 107.5 130.9 70.9 80.0 106.2 135.0 95.0 106.7 130.9 157.7 198.6 196.6
Net Receivables 417.6 296.5 286.4 309.2 318.2 314.2 306.9 335.9 288.7 278.3 255.1 260.1 246.8 244.4 236.4 208.3 167.9 122.1 110.4 100.1 87.6 78.6 70.7 58.7 61.6 53.4 58.9 63.0 60.3 62.2 60.4 57.0 50.3 44.1 7.3 7.1 7.5 13.4 9.4 6.2 6.1
Inventory 70.7 68.4 64.6 54.3 50.4 44.7 48.7 41.0 43.0 40.8 42.1 42.7 40.7 35.4 40.4 30.5 25.0 26.9 28.0 28.4 23.7 20.0 20.4 18.0 14.2 12.4 12.5 15.2 13.7 13.6 12.2 12.3 11.9 9.0 9.2 7.4 8.2 6.4 9.2 8.9 6.7
Other Current Assets 75.6 55.8 53.9 52.1 56.2 48.6 44.6 37.8 46.7 60.5 33.5 26.8 30.0 33.6 0.1 0.1 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.1 0.1 0.1 0.1 0.1 0.4 4.6 4.2 5.6 5.7 0.1 0.0 0.8 0.8 1.1 1.2 1.3 1.3
Total Current Assets 1,651.8 1,496.9 1,447.3 1,431.6 1,416.4 1,375.8 1,322.6 1,301.8 1,261.4 1,258.5 1,267.3 1,065.5 1,129.5 1,211.8 829.6 901.6 980.2 1,093.1 1,191.2 739.9 791.4 862.7 916.0 663.5 497.2 523.2 323.7 322.0 208.1 240.5 248.7 165.4 187.5 180.6 169.2 123.1 140.2 174.1 212.3 237.2 248.6
Non-Current Assets
Property, Plant & Equipment 403.4 349.7 303.5 284.4 275.1 248.2 230.0 185.9 180.3 167.7 163.0 164.9 170.1 164.3 161.3 143.9 142.8 124.5 106.9 97.2 89.7 54.7 48.5 47.4 49.3 47.0 43.8 48.3 50.6 24.3 24.8 25.3 26.9 29.7 30.4 31.3 31.8 32.3 25.6 19.1 15.1
Goodwill 140.9 141.1 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 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Intangible Assets 367.4 373.7 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 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 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Other Non-Current Assets 51 36.9 70.7 41.1 40.9 36.7 38.4 29.3 26.4 15.4 16.2 17.5 19.3 18.3 18.2 21.5 21.7 18.8 13.2 12.8 12.4 14.7 12.2 12.4 12.1 12.5 12.7 13.1 2.8 3.3 3.8 3.7 4.3 4.3 4.4 4.1 4.1 4.3 4.5 5.0 2.0
Total Non-Current Assets 962.6 1,011.1 374.2 325.5 316.0 284.9 268.4 215.2 206.8 183.2 179.2 182.4 189.4 182.7 179.5 165.4 164.4 143.3 120.2 110.1 102.1 69.5 60.7 59.8 61.4 59.5 56.5 61.4 53.4 27.7 28.6 29.0 31.1 34.0 34.8 35.3 35.9 36.6 30.1 24.1 17.1
Total Assets 2,614.4 2,508.0 1,821.5 1,757.1 1,732.4 1,660.7 1,590.9 1,517.0 1,468.2 1,441.7 1,446.5 1,247.9 1,318.9 1,394.5 1,009.1 1,067.0 1,144.7 1,236.5 1,311.4 850.0 893.5 932.2 976.7 723.3 558.6 582.7 380.2 383.3 261.4 268.2 277.3 194.4 218.7 214.6 204.1 158.4 176.0 210.7 242.4 261.3 265.7
Current Liabilities
Account Payables 62.4 33.2 46.5 36.9 39.2 34.9 27.8 33.1 26.0 15.0 21.3 21.1 36.1 31.1 34.2 28.2 18.1 27.2 8.2 20.3 4.7 8.1 9.2 3.5 8.4 8.6 9.2 8.3 8.9 14.6 9.9 7.7 8.6 8.5 3.8 10.4 6.6 11.5 8.8 9.2 9.0
Short-Term Debt 95.1 95.9 80.3 80.3 80.3 80.4 80.5 80.4 80.4 80.4 80.4 80.4 80.4 80.3 50.1 50.1 50.1 50.1 50.0 50.0 50.1 50.1 50.1 50.1 50.1 50.1 50.1 50.1 50.2 50.2 50.1 50.1 50.1 50.1 50.1 50.0 49.8 49.6 49.5 49.3 42.2
Deferred Revenue 36.9 24.9 21.8 21.6 20.6 19.8 17.9 18.4 17.7 16.6 15.0 15.6 16.6 10.8 7.9 16.0 13.9 7.4 9.7 10.6 9.1 50.1 51.2 52.4 51.8 56.0 25.7 19.2 4.9 4.1 1.2 1.2 1.4 1.4 1.0 0.7 0.6 0.6 0.6 0.3 0.2
Other Current Liabilities 210.7 186.3 216.0 64.7 57.3 73.4 64.8 71.9 64.7 69.1 55.6 49.7 53.5 63.0 60.2 48.9 49.7 58.2 51.2 53.1 46.2 47.7 35.8 29.7 27.6 25.5 22.9 21.0 21.9 22.7 18.0 16.9 19.8 19.0 21.8 22.6 21.0 22.4 13.8 13.1 12.1
Total Current Liabilities 558.3 441.2 442.0 384.8 365.7 344.0 301.4 314.6 305.9 307.3 289.9 276.9 291.0 310.5 267.3 251.6 231.1 219.0 199.7 198.0 167.0 199.1 195.9 175.6 176.6 179.9 138.0 126.9 112.7 114.0 101.8 98.1 104.4 105.6 91.5 98.3 93.0 96.4 96.0 95.5 84.2
Non-Current Liabilities
Long-Term Debt 0 0 0 0 0 0 286.5 283.6 283.3 282.9 282.6 282.3 282.0 281.7 281.3 281.0 280.7 280.4 280.1 279.8 279.5 202.5 200.0 197.5 72.9 73.7 73.6 73.5 73.4 73.4 73.3 73.2 73.1 73.1 73.2 0 0 0 0 0 0
Deferred Tax Liabilities 0.7 110.4 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 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 119.5 108.5 0 0 0 0 0 0 0 0 0 0 0 0 0 3.6 2.5 1.5 1.5 0 0 0.3 0.3 0.3 0.3 0.3 0 0 0 8.6 8.8 8.9 9.5 10.6 9.1 9.2 9.3 7.8 6.1 2.0 0
Total Non-Current Liabilities 282.1 354.4 127.3 126.0 127.0 121.3 411.0 365.9 368.1 369.1 371.9 374.9 377.3 378.2 380.2 370.8 371.3 364.2 352.6 352.9 354.1 246.9 244.8 243.4 123.1 124.1 157.6 163.3 143.8 122.0 118.9 118.3 118.1 83.6 82.3 9.2 9.3 7.8 6.1 2.0 0
Total Liabilities 840.4 795.6 569.3 510.9 492.7 465.3 712.4 680.5 674.1 676.4 661.9 651.7 668.3 688.7 647.5 622.4 602.3 583.2 552.4 550.8 521.1 445.9 440.7 419.0 299.7 303.9 295.6 290.2 256.5 236.0 220.7 216.4 222.5 189.2 173.9 107.5 102.4 104.2 102.1 97.5 84.2
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 (2,861.1) (2,776.0) (2,823.3) (2,735.7) (2,634.8) (2,567.9) (2,514.1) (2,482.5) (2,445.0) (2,377.4) (2,299.4) (2,190.4) (2,079.6) (1,942.6) (1,800.1) (1,678.6) (1,533.4) (1,394.8) (1,254.3) (1,103.0) (987.0) (929.3) (852.9) (794.6) (734.9) (699.2) (664.0) (640.9) (608.4) (574.5) (542.7) (513.1) (479.2) (446.4) (436.7) (409.5) (381.8) (345.8) (307.9) (281.9) (258.8)
Accumulated Other Comprehensive Income (0.2) (0.3) (0.2) (0.3) (0.2) (0.3) (0.8) (1.4) (2.2) (3.1) (5.4) (9.2) (11.8) (16.4) (19.6) (16.4) (13.9) (2.3) 1.5 2.4 3.2 4.3 5.2 5.8 5.7 0.9 0.9 0.8 (0.3) (0.6) (0.9) (0.9) (0.9) (0.8) (0.4) (0.5) (0.5) (0.7) 0.3 0.9 0.4
Total Stockholders' Equity 1,774.0 1,712.4 1,252.2 1,246.2 1,239.7 1,195.4 878.5 836.5 794.1 765.3 784.7 596.1 650.6 705.7 361.6 444.6 542.3 653.3 759.0 299.1 372.4 486.2 536 304.3 258.9 278.7 84.7 93.1 5.0 32.2 56.6 (22.0) (3.9) 25.4 30.2 50.9 73.7 106.5 140.3 163.8 181.6
Total Liabilities & Equity 2,614.4 2,508.0 1,821.5 1,757.1 1,732.4 1,660.7 1,590.9 1,517.0 1,468.2 1,441.7 1,446.5 1,247.9 1,318.9 1,394.5 1,009.1 1,067.0 1,144.7 1,236.5 1,311.4 850.0 893.5 932.2 976.7 723.3 558.6 582.7 380.2 383.3 261.4 268.2 277.3 194.4 218.7 214.6 204.1 158.4 176.0 210.7 242.4 261.3 265.7
Debt Metrics
Total Debt 240.1 214.4 184.7 196.1 195.6 187.1 475.7 437.6 439.8 442.0 442.4 444.2 445.5 446.2 416.1 402.2 403.5 397.2 385.4 385.7 386.4 281.1 277.8 276.8 153.6 155.8 157.1 158.3 159.4 123.5 123.4 123.3 123.3 123.2 123.3 50.0 49.8 49.6 49.5 49.3 42.2
Net Debt (847.9) (861.8) (856.7) (803.9) (778.2) (758.5) (417.1) (359.2) (374.0) (200.1) (226.3) 63.1 42.4 (19.9) 359.0 310.9 245.2 312.8 290.3 322.9 321.3 232.4 68.5 199.5 79.5 93.9 105.5 128.3 125.1 77.1 88.9 111.0 89.6 110.6 112.1 42.9 40.7 34.4 24.2 32.8 8.2
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 (85.1) 47.3 (87.5) (100.9) (66.9) (53.8) (31.6) (37.5) (67.6) (78.0) (109.0) (110.8) (136.9) (142.6) (121.5) (145.2) (138.6) (140.6) (151.3) (116.0) (63.9) (76.4) (58.3) (59.6) (35.4) (35.2) (23.1) (32.4) (34.1) (31.8) (29.6) (33.8) (32.9) (45.5) (27.9) (29.1) (33.5) (37.9) (26.0) (23.2) (8.7)
Depreciation & Amortization 20.2 14.1 10.3 9.9 9.2 7.8 8.2 7.9 7.1 6.9 7.0 5.1 5.1 3.9 5.1 4.5 6.3 3.0 3.0 5.4 2.5 2.4 2.2 2.2 1.8 1.8 2.0 2.0 1.9 1.9 1.9 1.8 1.9 1.8 1.7 1.9 1.8 2.0 1.7 1.2 1.2
Stock-Based Compensation 0 0 90.6 93.4 77.8 71.9 70.6 67.4 64.4 48.9 57.6 44.3 40.5 36.0 40.3 41.0 0 30.4 26.5 0 23.2 15.8 15.0 12.0 7.4 8.5 10.2 5.8 4.1 4.1 3.6 3.4 3.2 3.0 3.0 2.9 2.5 2.6 2.7 2.9 2.4
Change in Working Capital (2.8) (24.3) 40.9 30.8 23.4 22.9 (2.3) (37.7) 19.3 (38.9) 10.4 (21.8) 2.4 7.6 (31.3) (16.5) (42.5) 3.8 (10.2) 2.6 (42.2) (21.8) 2.1 (6.4) (13.0) 7.0 7.9 18.2 (5.9) 11.1 0.3 (11.2) 26.9 14.8 (10.9) 9.5 4.5 (1.4) (2.9) (3.3) 5.5
Other Non-Cash Items 107.9 97.6 5.1 4.5 0.9 4.1 6.8 3.9 3.8 3.0 4.4 4.7 7.9 13.9 5.0 5.3 37.6 4.6 41.0 37.5 5.4 6.8 5.9 10.9 4.0 2.8 (9.6) 2.5 2.2 1.9 0.5 4.3 2.0 (2.3) 2.8 1.1 0.1 5.2 0.3 1.7 0.0
Operating Cash Flow 40.2 73.9 59.4 37.6 44.5 52.9 51.8 4.0 27.0 (58.1) (29.7) (78.5) (81.1) (81.1) (102.2) (110.8) (137.3) (98.7) (91.1) (70.6) (74.9) (73.3) (33.1) (41.0) (35.1) (15.1) (12.6) (3.9) (31.8) (12.8) (23.3) (35.5) 1.0 (28.1) (30.6) (13.8) (24.3) (29.5) (24.2) (20.7) 0.5
Investing Activities
Capital Expenditure (22.1) (36.1) (34.9) (25.9) (21.8) (18.1) (16.3) (11.7) (20.3) (9.5) (9.0) (8.8) (11.4) (11.8) (12.2) (7.8) (15.9) (9.0) (13.1) (8.6) (10.3) (7.5) (1.9) (2.2) (7.9) (2.4) (1.0) (0.6) (1.0) (2.1) (0.5) (0.4) (0.9) (0.7) (1.1) (1.7) (6.3) (8.6) (7.3) (3.8) (3.5)
Acquisitions 0 (16.0) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 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 (10) 0 0 0 0 0 (51.9) 0 0 (98.3) 0 0 0 0 (7.0) (55.0) (25.0) (201.7) (603.3) (28.0) (43.0) (206.2) (212.9) (212.3) (53.9) (249.6) (34.8) (143.5) (18.6) (55.2) (94.5) (10.6) (10.0) (88.6) (180.0) (0.2) (4.0) (5.0) (18.4) (16.0) (14.1)
Sales/Maturities of Investments 0 1 15 2 5 7 110.7 52.4 169.1 132.5 90.2 56 27.2 33.7 85.8 97.5 247.9 294.5 189.3 96.6 140.0 114.6 104.5 49.0 105.3 56.8 56 30.3 32.5 79 34.5 19.6 35.9 116.8 139.9 11.7 28.1 30.5 58.4 14.2 20.6
Other Investing Activities 0 0 (12.5) 0 0 0 0 (72.8) (10.5) 0 0 0 0 0 0 0 0 (4.3) (4.3) 0 0 0 0 0 0 0 9.7 0 0 0 0 0 0 0 0 0 0 0 (0.2) 0 0.2
Investing Cash Flow (32.1) (71.6) (19.9) (23.9) (16.8) (11.1) 42.5 (32.1) 138.3 24.7 81.3 47.2 15.9 21.9 66.6 34.8 207.0 79.5 (431.4) 60.0 86.7 (99.2) (110.3) (165.4) 43.5 (195.2) 29.9 (113.9) 12.9 21.7 (60.5) 8.6 25.1 27.5 (41.2) 9.8 17.7 16.9 32.5 (5.7) 3.3
Financing Activities
Net Debt Issuance 0 0 0 0 0 (0.1) 0 0 0 0 0 0 0 30 0 0 0 0 0 0 0 0 (0.0) 199.6 0 0 0 0 0 0 0 0 0 (0.3) 75 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 1.9 0 0 0 0 0 0 0 236.0 9.3 2.3 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0.0 (0.0) 0 0 0 0 0 0 8.9 1.3
Financing Cash Flow 3.8 32.4 1.9 12.6 0.5 11.0 1.7 11.0 6.5 6.8 236.0 9.3 2.3 468.2 1.4 8.9 4.2 8.5 554.8 8.3 4.6 11.8 275.6 209.6 3.8 220.6 4.4 113.1 2.6 3.0 104.6 5.5 0.6 2.0 75.9 2.0 0.4 2.5 0.5 8.9 1.3
Cash Position
Net Change in Cash 11.8 34.7 41.4 26.3 28.2 52.7 96.0 (17.0) 171.7 (26.6) 287.6 (22.0) (62.9) 409.0 (34.3) (67.1) 73.9 (10.7) 32.3 (2.2) 16.4 (160.7) 132.2 3.2 12.2 10.3 21.7 (4.7) (16.3) 11.9 20.8 (21.4) 26.7 1.4 3.4 (2.0) (6.5) (10.1) 8.8 (17.4) 5.0
Cash at Beginning 1,076.1 1,041.4 1,000.0 973.8 945.6 892.8 796.8 813.8 642.1 668.7 381.1 403.2 466.1 57.1 91.4 158.5 84.6 95.3 63.0 65.3 48.9 209.5 77.4 74.2 62.0 51.7 30.0 34.7 51.0 39.1 18.3 39.7 13.0 11.2 8.2 10.2 16.7 25.3 16.6 34.0 28.9
Cash at End 1,087.9 1,076.1 1,041.4 1,000.0 973.8 945.6 892.8 796.8 813.8 642.1 668.7 381.1 403.2 466.1 57.1 91.4 158.5 84.6 95.3 63.0 65.3 48.9 209.5 77.4 74.2 62.0 51.7 30.0 34.7 51.0 39.1 18.3 39.7 12.6 11.6 8.2 10.2 15.3 25.3 16.6 34.0
Free Cash Flow 18.0 37.8 24.5 11.7 22.6 34.8 35.5 (7.7) 6.7 (67.7) (38.7) (87.4) (92.5) (93.0) (114.5) (118.6) (153.2) (107.7) (104.2) (79.2) (85.1) (80.8) (35.1) (43.2) (43.0) (17.5) (13.6) (4.6) (32.8) (14.9) (23.8) (35.9) 0.2 (28.9) (31.7) (15.5) (30.6) (38.1) (31.5) (24.5) (3.0)
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 Q1
Income Statement
Revenue 696.6 665.5 592.2 546.6 501.8 476.1 439.8 413.4 367.7 311.1 268.3 261.4 241.8 217.3 210.6 198.2 194.1 173.0 158.1 142.0 152.3 112.4 98.1 86.5 94.0 83.2 77.9 74.4 66.8 67.0 65.3 63.1 62.3 53.8 56.7 53.6 46.9 49.3 53.9 52.0 61.9 52.9 44.9 45.1 47.4 49.9 46.3 35.8 27.3 23.2 16.2 4.6
Gross Profit 451.4 446.8 384.4 347.1 317.2 299.6 271.7 243.2 208.6 159.9 121.0 118.3 93.6 90.0 94.1 89.0 90.9 78.9 76.7 65.9 85.5 52.5 46.3 39.5 49.0 38.8 34.0 30.5 23.5 24.2 23.6 22.1 21.7 17.0 22.0 19.1 13.2 11.3 19.6 21.0 29.6 21.1 14.5 19.4 22.6 27.2 25.5 16.8 11.4 10.5 6.7 (1.4)
Operating Income (93.5) (22.8) (97.6) (110.4) (79.2) (64.7) (39.3) (43.9) (74.3) (84.5) (111.0) (112.4) (138.3) (141.8) (119.1) (143.1) (137.1) (139.7) (150.2) (115.3) (63.0) (74.0) (55.8) (51.7) (34.9) (34.8) (21.1) (28.6) (31.7) (29.7) (27.2) (27.2) (30.5) (44.9) (25.0) (27.0) (37.0) (37.7) (26.7) (22.5) (9.6) (17.3) (20.7) (15.5) (6.3) 4.4 4.8 (1.2) (7.3) (3.6) (4.4) (9.9)
Net Income (85.1) 47.3 (87.5) (100.9) (66.9) (53.8) (31.6) (37.5) (67.6) (78.0) (109.0) (110.8) (136.9) (142.6) (121.5) (145.2) (138.6) (140.6) (151.3) (116.0) (63.9) (76.4) (58.3) (59.6) (35.4) (35.2) (23.1) (32.4) (34.1) (31.8) (29.6) (33.8) (32.9) (45.5) (27.1) (27.7) (36.0) (37.9) (26.0) (23.2) (8.7) (23.0) (17.6) (19.7) (10.0) 1.3 3.7 (0.5) (9.6) (4.8) (5.5) (17.8)
EPS (Diluted) -0.60 0.35 -0.64 -0.74 -0.50 -0.41 -0.26 -0.30 -0.56 -0.65 -0.95 -0.97 -1.23 -1.45 -1.25 -1.50 -1.45 -1.52 -1.63 -1.32 -0.74 -0.94 -0.72 -0.75 -0.45 -0.45 -0.33 -0.48 -0.54 -0.51 -0.49 -0.62 -0.61 -0.84 -0.51 -0.52 -0.68 -0.72 -0.50 -0.45 -0.17 -0.46 -0.39 -0.44 -0.22 0.03 0.00 -0.01 -0.26 -1.11 -1.50 -5.14
Balance Sheet
Cash & Equivalents 1,087.9 1,076.1 1,041.4 1,000.0 973.8 945.6 892.8 796.8 813.8 642.1 668.7 381.1 403.2 466.1 57.0 91.3 158.3 84.4 95.1 62.8 65.1 48.7 209.4 77.3 74.1 61.9 51.6 29.9 34.3 46.4 34.5 12.3 33.7 12.6 11.2 7.1 9.1 15.3 25.3 16.6 34.0
Total Assets 2,614.4 2,508.0 1,821.5 1,757.1 1,732.4 1,660.7 1,590.9 1,517.0 1,468.2 1,441.7 1,446.5 1,247.9 1,318.9 1,394.5 1,009.1 1,067.0 1,144.7 1,236.5 1,311.4 850.0 893.5 932.2 976.7 723.3 558.6 582.7 380.2 383.3 261.4 268.2 277.3 194.4 218.7 214.6 204.1 158.4 176.0 210.7 242.4 261.3 265.7
Total Debt 240.1 214.4 184.7 196.1 195.6 187.1 475.7 437.6 439.8 442.0 442.4 444.2 445.5 446.2 416.1 402.2 403.5 397.2 385.4 385.7 386.4 281.1 277.8 276.8 153.6 155.8 157.1 158.3 159.4 123.5 123.4 123.3 123.3 123.2 123.3 50.0 49.8 49.6 49.5 49.3 42.2
Stockholders' Equity 1,774.0 1,712.4 1,252.2 1,246.2 1,239.7 1,195.4 878.5 836.5 794.1 765.3 784.7 596.1 650.6 705.7 361.6 444.6 542.3 653.3 759.0 299.1 372.4 486.2 536 304.3 258.9 278.7 84.7 93.1 5.0 32.2 56.6 (22.0) (3.9) 25.4 30.2 50.9 73.7 106.5 140.3 163.8 181.6
Cash Flow
Operating Cash Flow 40.2 73.9 59.4 37.6 44.5 52.9 51.8 4.0 27.0 (58.1) (29.7) (78.5) (81.1) (81.1) (102.2) (110.8) (137.3) (98.7) (91.1) (70.6) (74.9) (73.3) (33.1) (41.0) (35.1) (15.1) (12.6) (3.9) (31.8) (12.8) (23.3) (35.5) 1.0 (28.1) (30.6) (13.8) (24.3) (29.5) (24.2) (20.7) 0.5
Capital Expenditure (22.1) (36.1) (34.9) (25.9) (21.8) (18.1) (16.3) (11.7) (20.3) (9.5) (9.0) (8.8) (11.4) (11.8) (12.2) (7.8) (15.9) (9.0) (13.1) (8.6) (10.3) (7.5) (1.9) (2.2) (7.9) (2.4) (1.0) (0.6) (1.0) (2.1) (0.5) (0.4) (0.9) (0.7) (1.1) (1.7) (6.3) (8.6) (7.3) (3.8) (3.5)
Free Cash Flow 18.0 37.8 24.5 11.7 22.6 34.8 35.5 (7.7) 6.7 (67.7) (38.7) (87.4) (92.5) (93.0) (114.5) (118.6) (153.2) (107.7) (104.2) (79.2) (85.1) (80.8) (35.1) (43.2) (43.0) (17.5) (13.6) (4.6) (32.8) (14.9) (23.8) (35.9) 0.2 (28.9) (31.7) (15.5) (30.6) (38.1) (31.5) (24.5) (3.0)