NovoCure Limited logo NVCR - NovoCure Limited

Price: -- -- | CONSENSUS: Buy DETAILS
STRONG
BUY
0
BUY 9
HOLD 5
SELL 1
STRONG
SELL
0
| PRICE TARGET: $33.50 DETAILS
HIGH: $47.00
LOW: $20.00
MEDIAN: $33.50
CONSENSUS: $33.50
UPSIDE: 86.53%
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
Revenue
Revenue 174.1 174.3 167.2 158.8 155.0 161.3 155.1 150.4 138.5 133.8 127.3 126.1 122.2 128.4 131.0 140.9 137.5 133.2 133.6 133.5 134.7 144.0 132.7 115.9 101.8 99.2 92.1 86.7 73.3 69.7 64.8 61.5 52.1 53.7 50.1 38.4 34.9 30.2 21.7 17.9 13.1 12.4 9.0 6.5 5.2 3.8 4.4 4.1 3.2
Cost of Revenue 38.9 42.2 44.7 41.5 38.5 33.5 35.4 34.7 33.7 32.6 32.1 34.0 29.6 28.9 29.7 28.5 27.7 29.7 30.2 28.6 26.4 28.1 28.4 25.5 24.5 24.8 22.9 21.1 19.8 23.0 18.9 19.8 18.2 15.6 15.2 13.2 11.7 11.0 11.1 16.2 8.0 6.3 5.7 4.8 3.9 2.6 2.6 2.5 2.3
Gross Profit 135.1 132.2 122.5 117.3 116.5 127.8 119.7 115.7 104.8 101.2 95.2 92.0 92.6 99.5 101.2 112.4 109.8 103.5 103.4 104.9 108.3 115.8 104.3 90.5 77.3 74.4 69.2 65.6 53.5 46.6 45.8 41.7 33.9 38.0 35.0 25.2 23.2 19.3 10.6 1.7 5.1 6.1 3.3 1.8 1.3 1.2 1.8 1.6 0.9
Operating Expenses
R&D Expenses 58.3 60.9 54.0 55.8 53.8 51.2 51.9 55.0 51.6 54.3 53.6 55.4 59.7 54.8 52.0 57.1 42.2 56.9 48.1 50.3 45.9 44.0 32.8 29.9 25.3 23.7 18.8 19.5 17.0 15.0 13.1 11.4 11.1 10.0 9.3 9.4 9.4 8.5 10.2 11.3 11.4 10.8 10.2 12.8 9.9 11.2 9.3 10.4 9.5
SG&A Expenses 144.2 111.7 104.5 101.0 100.6 139.9 99.9 94.4 94.7 98.6 99.9 99.3 93.1 87.7 73.9 76.4 68.4 70.0 63.8 66.9 62.5 59.7 56.4 53.9 55.4 50.6 46.5 45.0 42.6 40.3 38.0 37.4 35.5 32.5 31.6 31.4 27.2 28.7 28.6 27.6 25.6 25.8 17.3 16.2 13.3 13.0 10.4 12.4 9.4
Other Expenses 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Operating Expenses 202.5 172.6 158.5 156.9 154.3 191.1 151.8 149.3 146.3 152.9 153.5 154.7 152.8 142.5 125.9 133.5 110.6 126.9 112.0 117.2 108.4 103.7 89.2 83.8 80.7 74.3 65.3 64.4 59.6 55.3 51.1 48.8 46.6 42.5 40.9 40.8 36.6 37.1 38.8 38.9 37.0 36.7 27.5 29.0 23.3 24.2 19.7 22.7 19.2
Operating Income
Operating Income (67.4) (40.4) (36.0) (39.5) (37.9) (63.3) (32.1) (33.6) (41.5) (51.7) (58.2) (62.7) (60.2) (43.0) (24.6) (21.1) (0.8) (23.4) (8.6) (12.3) (0.1) 12.1 15.0 6.7 (3.4) 0.2 3.9 1.2 (6.1) (8.7) (5.2) (7.1) (12.7) (4.5) (5.9) (15.5) (13.4) (17.9) (28.3) (37.2) (31.9) (30.6) (24.2) (27.2) (21.9) (23.0) (17.9) (21.2) (18.0)
Interest Expense 1.8 0 0 0 0 0 0 0 0 0 0 0 0 0 0 2.2 1.7 0 2.0 0.9 2.6 5.9 4.0 2.6 2.4 1.3 2.6 1.2 2.4 1.8 2.4 2.9 4.9 2.9 2.2 2.2 2.4 2.5 2.2 0.6 0.5 0.5 0.8 0.9 0.6 0 0.1 0 0
Interest Income 0 0 6.0 4.5 7.6 8.1 10.5 10.9 9.9 13.2 10.0 8.8 9.2 10.4 1.2 0 0 1.9 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 0.1 0 0.2 0.2
Profitability
EBITDA (63.3) (34.2) (26.4) (36.1) (34.5) (10.5) (29.6) (30.7) (38.7) (35.8) (55.4) (59.9) (57.5) (29.9) (22.0) (18.5) 1.8 (20.7) (5.8) (9.8) 2.3 15.4 17.2 9.3 (1.5) 8.4 5.8 3.3 (4.2) (6.5) (2.9) (4.8) (10.5) (2.4) (3.9) (13.7) (11.7) (16.3) (26.7) (37.2) (30.8) (33.5) (23.3) (26.6) (21.4) (22.6) (17.4) (20.8) (17.5)
EBIT (67.4) (41.0) (30.0) (39.5) (37.9) (13.6) (32.1) (33.6) (41.5) (38.5) (58.2) (62.7) (60.2) (32.6) (24.6) (21.1) (0.8) (23.4) (8.6) (12.3) (0.1) 12.9 15.0 6.7 (3.4) 6.0 3.9 1.2 (6.1) (8.7) (5.2) (7.1) (12.7) (4.5) (5.9) (15.5) (13.4) (17.9) (28.3) (37.2) (31.9) (31.4) (24.2) (27.2) (21.9) (23.1) (17.9) (21.2) (18.0)
Income Before Tax (69.3) (41.0) (30.0) (35.0) (30.3) (55.2) (21.6) (22.7) (31.6) (38.5) (48.2) (53.9) (51.1) (32.6) (23.4) (23.4) (2.5) (25.6) (10.5) (13.2) (2.7) 8.8 11.0 4.1 (5.8) (1.6) 1.3 (0.0) (8.5) (10.8) (7.6) (9.9) (17.5) (6.9) (8.1) (17.7) (15.8) (20.7) (30.5) (37.8) (32.5) (31.5) (25.0) (28.1) (22.5) (23.1) (18.0) (21.3) (18.0)
Income Tax Expense 1.9 (16.5) 7.2 5.2 4.0 10.7 9.0 10.6 7.1 8.5 1.3 3.5 2.0 4.7 3.2 0.7 2.1 0.9 2.6 1.4 1.4 3.9 1.8 2.4 (9.8) (5.9) (0.6) 1.2 3.7 4.8 4.1 5.6 3.2 4.1 3.4 3.5 2.2 1.4 3.2 2.8 3.0 1.4 1.0 1.3 0.7 (0.1) 0.4 0.1 0.1
Net Income (71.1) (24.5) (37.3) (40.1) (34.3) (65.9) (30.6) (33.4) (38.8) (47.1) (49.5) (57.4) (53.1) (37.3) (26.6) (24.0) (4.6) (26.5) (13.1) (14.6) (4.1) 4.9 9.3 1.7 4.0 4.3 1.9 (1.3) (12.2) (15.6) (11.7) (15.5) (20.7) (10.9) (11.5) (21.2) (18.0) (22.2) (33.6) (40.6) (35.4) (32.9) (26.0) (29.4) (23.3) (22.9) (18.3) (21.3) (18.1)
Per Share Data
EPS (Basic) -0.62 -0.22 -0.33 -0.36 -0.31 -0.61 -0.28 -0.31 -0.36 -0.44 -0.46 -0.54 -0.50 -0.36 -0.25 -0.23 -0.04 -0.25 -0.13 -0.14 -0.04 0.05 0.09 0.02 0.04 0.04 0.02 -0.01 -0.13 -0.17 -0.13 -0.17 -0.23 -0.12 -0.13 -0.24 -0.21 -0.26 -0.39 -0.48 -0.42 -0.39 -0.31 -0.36 -0.32 -0.32 -0.25 -1.71 -1.50
EPS (Diluted) -0.62 -0.22 -0.33 -0.36 -0.31 -0.61 -0.28 -0.31 -0.36 -0.44 -0.46 -0.54 -0.50 -0.36 -0.25 -0.23 -0.04 -0.25 -0.13 -0.14 -0.04 0.04 0.09 0.02 0.04 0.04 0.02 -0.01 -0.13 -0.17 -0.13 -0.17 -0.23 -0.12 -0.13 -0.24 -0.21 -0.26 -0.39 -0.48 -0.42 -0.39 -0.31 -0.36 -0.32 -0.32 -0.25 -1.71 -1.50
Shares Outstanding 114.1 111.5 111.9 111.6 110.3 107.8 108.2 107.7 107.3 107.0 106.8 106.3 105.7 105.0 104.9 104.6 104.2 103.9 101.0 103.5 102.6 101.9 101.2 100.7 99.9 99.2 98.5 96.4 93.5 90.8 90.0 91.3 90.0 89.4 89.1 88.2 87.5 86.8 85.8 85.3 84.4 83.8 82.7 82.7 72.1 72.1 72.1 12.5 12.0
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 97.3 103.4 344.6 149.6 127.3 163.8 185.4 168.4 453.8 240.8 154.9 157.0 186.0 115.3 243.8 367.0 190.7 209.6 689.8 349.1 314.5 246.2 234.5 196.8 181.9 179.4 208.0 180.1 152.1 140.6 123.0 114.5 111.6 78.6 82.1 80.2 84.6 99.8 115.8 80.9 115.9
Short-Term Investments 344.5 354.1 691.4 761.9 801.9 796.1 774.5 786.4 416.4 669.8 766.4 783.8 772.1 854.1 726.5 581.5 741.6 728.9 243.9 549.9 549.9 607.9 0 149.9 149.3 148.8 104.6 104.5 104.5 105.3 104.7 104.5 104.7 104.7 104.5 104.2 104.7 119.9 119.7 120.0 119.8
Net Receivables 93.3 115.3 85.2 129.1 118.5 102.1 67.1 64.7 65.1 77.1 88.3 91.1 98.6 86.3 105.0 115.8 118.3 97.4 111.7 108.4 111.4 100.5 121.6 114.1 107.6 64.0 67.8 57.8 52.8 36.5 45.3 48.9 44.0 29.6 28.6 25.4 26.7 6.3 11.8 12.5 11.3
Inventory 43.5 0 0 40.2 39.5 35.1 39.1 40.4 42.4 38.2 36.8 33.0 31.7 29.4 26.8 29.5 29.1 24.4 22.6 26.7 28.0 27.4 26.5 26.1 22.5 23.7 24.4 25.5 24.1 22.6 21.6 19.9 20.4 22.0 24.6 25.1 25.9 25.5 24.0 21.2 16.4
Other Current Assets 53.1 73.9 78.6 2.5 2.2 2.3 3.8 32.9 25.1 1.7 1.7 0.5 0.7 20.0 0.2 0.7 0.9 8.5 0.9 11.5 11.4 13.5 0.9 0.8 0.8 21.9 20.1 17.4 15.7 2.1 12.1 13.4 12.1 2.1 7.7 13.1 16.4 0.3 0.1 0.1 0.1
Total Current Assets 631.7 646.7 1,199.9 1,083.3 1,089.3 1,106.6 1,095.3 1,092.8 1,002.7 1,034.4 1,048.0 1,065.5 1,089.0 1,111.5 1,102.4 1,094.6 1,080.6 1,073.5 1,069.0 1,045.6 1,015.2 999.4 383.5 487.8 462.2 439.9 406.9 370.0 335.7 321.4 296.8 289.9 282.8 245.1 241.9 236.5 243.5 261.9 271.4 234.7 263.6
Non-Current Assets
Property, Plant & Equipment 145.1 0 0 147.0 145.0 119.6 114.5 107.3 103.8 97.7 85.9 79.0 74.2 69.0 61.1 57.2 57.8 53.9 40.7 40.9 41.6 41.6 36.5 36.3 35.4 34.6 31.2 30.5 29.6 15.4 15.9 17.0 17.9 18.1 18.3 18.7 19.3 18.6 17.9 14.7 14.3
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 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 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Other Non-Current Assets 11.2 157.6 161.3 15.6 14.5 14.6 12.2 12.1 14.9 14.0 12.4 14.6 11.1 11.2 10.7 10.9 11.8 12.1 10.7 10.6 10.8 10.9 11.0 4.9 4.8 4.9 5.7 5.7 5.0 3.1 2.8 3.0 2.7 2.1 2.1 1.9 1.9 1.6 1.7 1.2 1.1
Total Non-Current Assets 156.3 157.6 161.3 162.6 159.5 134.2 126.7 119.3 118.7 111.7 98.4 93.5 85.3 80.1 71.8 68.1 69.6 66.0 51.4 51.5 52.4 52.5 47.6 41.2 40.3 39.5 36.9 36.2 34.6 18.4 18.7 20.0 20.6 20.2 20.4 20.6 21.2 20.2 19.7 15.8 15.4
Total Assets 787.9 804.3 1,361.2 1,245.9 1,248.8 1,240.8 1,222.0 1,212.2 1,121.4 1,146.1 1,146.4 1,159.0 1,174.3 1,191.6 1,174.2 1,162.7 1,150.2 1,139.5 1,120.5 1,097.1 1,067.6 1,052.0 431.0 528.9 502.4 479.4 443.9 406.2 370.3 339.8 315.5 309.9 303.5 265.3 262.3 257.0 264.6 282.1 291.1 250.5 279.0
Current Liabilities
Account Payables 127.2 122.2 118.9 103.7 95.1 105.1 91.3 90.2 84.3 94.4 79.7 82.5 81.5 85.2 77.0 79.9 69.2 72.6 60.0 56.8 52.7 53.6 42.2 38.5 40.4 36.9 32.0 30.1 29.9 26.7 20.1 20.4 19.4 17.2 14.1 13.2 14.8 18.4 15.2 22.0 18.6
Short-Term Debt 0 11.7 560.6 559.8 559.0 558.2 557.3 0 0 0 0 0 0 0 0 0 0 6.7 0 0 0 6.5 0 0 0 4.6 0 0 41.0 0 0 0 0 0 0 0 0 0 0 0 0
Deferred Revenue 0 0 0 0 0 14.2 0 (79.0) (75.9) 16.2 0 0 0 18.0 0 0 0 17.8 0 0 0 17.8 0 0 0 11.8 8.3 8.9 9.4 8.8 0 0 0 5.0 0 0 0 2.3 0 0 0
Other Current Liabilities 90.3 89.3 96.5 0 0 0 86.3 158.0 151.8 0 0 0 0 0 0 0 0 0.2 0 0 0 0.1 0 0 0 0.1 48.4 43.5 (3.8) 12.3 28.0 24.8 25.3 5.6 26.8 22.0 17.1 5.6 14.5 12.6 10.8
Total Current Liabilities 217.6 223.2 776.0 749.6 743.3 756.4 735.0 169.2 160.2 179.1 157.2 150.1 148.8 158.8 141.1 135.4 127.8 142.6 124.5 116.2 110.5 113.6 95.3 85.1 84.2 86.3 80.4 73.6 70.9 64.6 48.1 45.2 44.8 50.2 41.0 35.2 31.9 36.9 29.7 34.6 29.4
Non-Current Liabilities
Long-Term Debt 195.5 236.7 194.6 97.6 97.5 97.3 97.1 653.5 569.7 568.8 568.0 567.1 566.3 565.5 564.7 563.8 563.0 562.2 561.4 560.6 559.6 429.9 0 149.5 149.5 149.4 149.4 149.3 149.3 149.3 149.2 149.2 149.2 97.3 97.0 96.8 96.5 96.2 96.0 23.3 23.2
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 0.1 0 0 0 0 0 0 0 0 0 0 0
Other Non-Current Liabilities 4.7 (37.7) 6.5 6.3 5.8 7.0 7.9 6.0 6.6 8.3 5.4 5.0 5.3 4.6 4.3 3.8 3.2 4.7 2.4 2.7 3.1 5.5 4.7 4.8 4.8 4.0 4.0 3.9 3.2 3.7 3.3 3.4 3.4 4.2 7.6 7.6 7.3 6.6 7.2 6.0 6.0
Total Non-Current Liabilities 239.6 240.6 243.9 146.8 143.5 124.2 126.2 681.2 601.8 604.5 595.5 593.2 593.4 591.7 587.7 585.6 586.5 586.4 582.7 583.6 585.0 461.8 28.7 176.0 176.3 175.3 173.1 173.7 172.9 163.0 152.5 152.5 152.6 101.5 104.6 104.3 103.8 102.9 103.1 29.3 29.2
Total Liabilities 457.2 463.9 1,019.9 896.4 886.9 880.6 861.2 850.4 762.1 783.6 752.6 743.3 742.2 750.5 728.8 721 714.3 729.0 707.3 699.8 695.5 575.5 124.0 261.1 260.5 261.7 253.5 247.3 243.9 227.5 200.6 197.8 197.4 151.7 145.6 139.5 135.7 139.7 132.8 63.9 58.6
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
Retained Earnings (1,361.5) (1,290.4) (1,265.9) (1,228.6) (1,188.4) (1,154.1) (1,088.2) (1,057.6) (1,024.3) (985.5) (938.4) (888.9) (831.5) (778.5) (741.2) (714.6) (690.6) (685.9) (659.5) (646.3) (631.7) (631.1) (636.0) (645.3) (646.9) (650.9) (655.1) (657.1) (655.8) (643.7) (628.0) (616.3) (600.8) (582.3) (571.3) (559.8) (538.6) (519.9) (497.8) (464.1) (423.5)
Accumulated Other Comprehensive Income (4.9) (3.4) (5.8) (5.1) (4.2) (5.5) (5.4) (3.5) (4.1) (5.5) (2.0) (2.0) (2.7) (2.4) (2.3) (2.1) (1.3) (3.2) (0.9) (1.1) (1.9) (3.8) (3.2) (3.5) (3.6) (2.8) (2.6) (2.4) (1.7) (1.4) (1.1) (1.3) (1.3) (1.3) (1.5) (1.7) (1.9) (1.9) (2.1) (1.7) (2.0)
Total Stockholders' Equity 330.7 340.5 341.3 349.4 362.0 360.2 360.8 361.8 359.4 362.5 393.7 415.7 432.1 441.2 445.4 441.7 435.9 410.5 413.2 397.3 372.1 476.5 307.0 267.8 241.9 217.8 190.4 158.9 126.4 112.3 114.9 112.1 106.1 113.6 116.7 117.5 128.9 142.3 158.2 186.6 220.4
Total Liabilities & Equity 787.9 804.3 1,361.2 1,245.9 1,248.8 1,240.8 1,222.0 1,212.2 1,121.4 1,146.1 1,146.4 1,159.0 1,174.3 1,191.6 1,174.2 1,162.7 1,150.2 1,139.5 1,120.5 1,097.1 1,067.6 1,052.0 431.0 528.9 502.4 479.4 443.9 406.2 370.3 339.8 315.5 309.9 303.5 265.3 262.3 257.0 264.6 282.1 291.1 250.5 279.0
Debt Metrics
Total Debt 234.9 290 797.9 700.3 696.7 683.4 675.6 675.2 595.3 596.2 590.0 587.5 586.3 584.3 579.5 577.2 577.8 581.9 572.9 572.5 572.3 450.7 13.1 163.2 162.7 168.2 160.8 160.9 160.3 149.3 149.2 149.2 149.2 97.3 97.0 96.8 96.5 96.2 96.0 23.3 23.2
Net Debt 137.6 186.6 453.3 550.6 569.5 519.6 490.2 506.8 141.5 355.4 435.2 430.5 400.3 468.9 335.7 210.2 387.1 372.3 (117.0) 223.4 257.7 204.5 (221.4) (33.6) (19.2) (11.2) (47.3) (19.1) 8.3 8.6 26.3 34.7 37.6 18.8 14.9 16.6 11.9 (3.5) (19.9) (57.6) (92.7)
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 (71.1) (24.5) (37.3) (40.1) (34.3) (65.9) (30.6) (33.4) (38.8) (47.1) (49.5) (57.4) (53.1) (37.3) (26.6) (24.0) (4.6) (26.5) (13.1) (14.6) (4.1) 4.9 9.3 1.7 4.0 4.3 1.9 (1.3) (12.2) (15.6) (11.7) (15.5) (20.7) (10.9) (11.5) (21.2) (18.0) (22.2) (33.6) (40.6) (35.4)
Depreciation & Amortization 1.5 4.2 (2.7) 3.4 (3.3) 3.1 2.5 2.9 2.8 2.7 2.8 2.7 2.7 2.7 2.7 2.7 2.6 2.7 2.7 2.5 2.4 2.5 2.2 2.6 1.9 2.5 1.9 2.1 1.9 2.2 2.3 2.3 2.2 2.2 2.1 1.8 1.7 1.6 1.6 1.4 1.1
Stock-Based Compensation 63.0 0 29.3 26.1 29.6 62.8 31.4 31.8 34.1 17.4 0 32.7 39.1 29.8 26.3 25.8 25.0 22.4 25.8 27.9 0 20.3 20.1 18.8 16.6 14.7 14.3 13.7 9.6 10.6 10.5 10.2 8.5 6.4 8.6 7.6 4.6 5.4 5.6 5.6 5.5
Change in Working Capital (8.1) (14.8) 30.1 (6.6) (27.5) 4.6 13.9 3.0 (25.1) 22.2 6.2 3.2 (0.3) 9.7 19.8 9.9 (27.5) 14.7 7.6 9.0 (2.3) 21.9 (1.1) (9.4) (19.9) (13.2) (2.8) (5.0) (3.2) 20.0 4.9 (4.2) (9.3) (0.5) 3.3 5.8 (15.3) 2.2 (7.4) (1.6) (2.7)
Other Non-Cash Items 1.2 17.0 1.1 1.3 (0.1) (8.0) (6.8) (6.1) (4.6) (7.9) 21.2 1.7 (5.2) (8.5) 0.3 1.4 0.8 1.1 1.4 0.9 21.8 3.9 0.5 (0.5) (0.5) (1.2) (0.5) (0.6) (0.6) (0.5) (0.6) (0.4) 2.4 0.0 0.0 0.1 0.1 (0.1) 0.3 (0.7) 0.6
Operating Cash Flow (13.5) (18.0) 20.6 (15.9) (35.7) (3.5) 10.4 (1.7) (31.6) (14.6) (19.3) (22.7) (16.7) (3.7) 22.4 15.8 (3.7) 14.4 24.4 26.2 17.8 53.5 31.0 12.7 2.0 7.0 14.9 9.1 (4.3) 16.8 5.6 (7.5) (16.8) (2.9) 2.5 (5.9) (26.9) (13.7) (33.5) (29.4) (31.0)
Investing Activities
Capital Expenditure (5.2) (4.9) (5.7) (5.5) (10.6) (8.9) (10.7) (11.4) (11.8) (6.8) (7.3) (6.9) (6.1) (6.4) (5.7) (4.1) (5.1) (14.3) (3.3) (2.6) (4.0) (5.8) (2.8) (3.3) (3.1) (3.1) (2.7) (2.4) (2.3) (1.8) (1.4) (1.5) (2.1) (1.9) (1.8) (1.2) (2.4) (3.4) (4.8) (6.6) (2.8)
Acquisitions 0 0 0 0 0 0 0 0 0 (105.3) 0 7.0 0 121.6 0 0 0 0 0 0 0 0 0 0 0 0 0 1.5 1.5 4.9 0.8 0.6 1.4 0 0 0 0 0 0 0 0
Purchases of Investments (97.1) (218.8) (107.9) (378.5) (115.9) (183.3) (169.1) (523.0) 0 (193.2) (251.0) (321.6) (237.9) (226.2) (503.3) (277.1) (291.3) (484.8) (44) 0 (549.8) (607.9) 0 0 0 (148.7) (104.5) (104.4) (104.3) (105.0) (44.7) (59.4) (44.8) 0 0 (59.4) (44.7) 0 (119.6) 0 (119.7)
Sales/Maturities of Investments 110 560 185 420 120 170 190 160 258 298.5 275.5 314.6 326.3 104.5 358.7 437.0 279 0 350 0 608 0 150 0 0 105 105 105 105.7 105 45 60 45 0 0 60 60 0 120 0 150
Other Investing Activities 0 0 0 0 0 0 0 0 0 105.3 0 (7.0) 0 (121.6) 0 0 0 0 0 0 0 0 0 0 0 0 0.5 (1.5) (1.5) (4.9) (0.8) (0.6) (1.4) 0.0 (0.6) (0.0) (1.3) (0.2) 0.0 (0.0) 0.0
Investing Cash Flow 7.7 336.3 71.4 36.0 (6.5) (22.2) 10.2 (374.4) 246.2 98.5 17.3 (13.9) 82.3 (128.1) (150.2) 155.8 (17.4) (499.1) 302.7 (2.6) 54.2 (613.6) 147.2 (3.3) (3.1) (46.8) (2.2) (1.7) (1.0) (1.8) (1.0) (0.8) (1.9) (1.9) (2.3) (0.6) 11.6 (3.6) (4.4) (6.6) 27.4
Financing Activities
Net Debt Issuance 0 (560.9) 100.0 0 0 (84.0) 0 84.0 0 0 0 (0.0) (0.0) (0.0) (0.0) (0.0) (0.0) (0.0) (0.0) (0.0) (0.0) 558.4 (150.0) (0.0) (0.0) (0.0) (0.0) (0.0) (0.0) (0.0) (0.0) (0.0) 49.1 (0.0) (0.0) 0 (0.0) (0.0) 72.9 (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 (0.6) (0.1) 0 0.3 0 84.7 0 1.1 0 0.4 0 4.6 5.2 1.0 4.2 2.0 3.1 1.5 3.0 8.7 0 10.7 9.5 3.7 4.5 7.3 15.5 19.5 17.0 1.7 3.9 10.3 2.6 0.6 1.7 1.3 0.1 1.3 0 0.9 0.1
Financing Cash Flow (0.2) (559.5) 100.5 2.4 5.2 2.7 0.1 87.3 0.2 1.9 1.2 7.5 5.2 3.4 4.2 4.7 3.1 3.7 3.0 11.1 8.0 570.9 (140.5) 5.3 4.5 8.6 15.5 20.7 17.0 2.6 3.9 11.2 51.7 1.3 1.7 2.1 0.1 1.3 72.9 0.9 0.0
Cash Position
Net Change in Cash (6.1) (241.2) 192.5 22.7 (36.7) (23.1) 20.8 (288.9) 214.8 86.1 (1.0) (29.1) 70.8 (128.2) (123.7) 176.1 (18.0) (481.1) 330.1 34.6 79.8 10.8 37.8 14.9 3.3 (30.8) 28.0 28.0 11.4 17.6 8.5 2.9 33.0 (3.5) 1.9 (4.4) (15.2) (16.0) 35.0 (35.1) (3.5)
Cash at Beginning 103.4 344.6 152.1 129.4 166.1 189.2 168.4 457.4 242.6 156.5 157.5 186.6 115.8 244.0 367.8 191.6 209.6 690.7 360.6 326.0 246.2 235.4 197.6 182.7 179.4 210.2 182.2 154.2 142.8 125.2 116.6 113.8 80.7 82.1 80.2 84.6 99.8 115.8 80.9 115.9 119.4
Cash at End 97.3 103.4 344.6 152.1 129.4 166.1 189.2 168.4 457.4 242.6 156.5 157.5 186.6 115.8 244.0 367.8 191.6 209.6 690.7 360.6 326.0 246.2 235.4 197.6 182.7 179.4 210.2 182.2 154.2 142.8 125.2 116.6 113.8 78.6 82.1 80.2 84.6 99.8 115.8 80.9 115.9
Free Cash Flow (18.7) (22.9) 14.9 (21.4) (46.3) (12.4) (0.3) (13.2) (43.4) (21.4) (26.6) (29.7) (22.8) (10.1) 16.7 11.6 (8.8) 0.1 21.1 23.6 13.8 47.7 28.2 9.4 (1.2) 3.9 12.2 6.7 (6.6) 15.0 4.3 (9.0) (18.9) (4.8) 0.8 (7.1) (29.3) (17.1) (38.3) (36.0) (33.8)
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
Income Statement
Revenue 174.1 174.3 167.2 158.8 155.0 161.3 155.1 150.4 138.5 133.8 127.3 126.1 122.2 128.4 131.0 140.9 137.5 133.2 133.6 133.5 134.7 144.0 132.7 115.9 101.8 99.2 92.1 86.7 73.3 69.7 64.8 61.5 52.1 53.7 50.1 38.4 34.9 30.2 21.7 17.9 13.1 12.4 9.0 6.5 5.2 3.8 4.4 4.1 3.2
Gross Profit 135.1 132.2 122.5 117.3 116.5 127.8 119.7 115.7 104.8 101.2 95.2 92.0 92.6 99.5 101.2 112.4 109.8 103.5 103.4 104.9 108.3 115.8 104.3 90.5 77.3 74.4 69.2 65.6 53.5 46.6 45.8 41.7 33.9 38.0 35.0 25.2 23.2 19.3 10.6 1.7 5.1 6.1 3.3 1.8 1.3 1.2 1.8 1.6 0.9
Operating Income (67.4) (40.4) (36.0) (39.5) (37.9) (63.3) (32.1) (33.6) (41.5) (51.7) (58.2) (62.7) (60.2) (43.0) (24.6) (21.1) (0.8) (23.4) (8.6) (12.3) (0.1) 12.1 15.0 6.7 (3.4) 0.2 3.9 1.2 (6.1) (8.7) (5.2) (7.1) (12.7) (4.5) (5.9) (15.5) (13.4) (17.9) (28.3) (37.2) (31.9) (30.6) (24.2) (27.2) (21.9) (23.0) (17.9) (21.2) (18.0)
Net Income (71.1) (24.5) (37.3) (40.1) (34.3) (65.9) (30.6) (33.4) (38.8) (47.1) (49.5) (57.4) (53.1) (37.3) (26.6) (24.0) (4.6) (26.5) (13.1) (14.6) (4.1) 4.9 9.3 1.7 4.0 4.3 1.9 (1.3) (12.2) (15.6) (11.7) (15.5) (20.7) (10.9) (11.5) (21.2) (18.0) (22.2) (33.6) (40.6) (35.4) (32.9) (26.0) (29.4) (23.3) (22.9) (18.3) (21.3) (18.1)
EPS (Diluted) -0.62 -0.22 -0.33 -0.36 -0.31 -0.61 -0.28 -0.31 -0.36 -0.44 -0.46 -0.54 -0.50 -0.36 -0.25 -0.23 -0.04 -0.25 -0.13 -0.14 -0.04 0.04 0.09 0.02 0.04 0.04 0.02 -0.01 -0.13 -0.17 -0.13 -0.17 -0.23 -0.12 -0.13 -0.24 -0.21 -0.26 -0.39 -0.48 -0.42 -0.39 -0.31 -0.36 -0.32 -0.32 -0.25 -1.71 -1.50
Balance Sheet
Cash & Equivalents 97.3 103.4 344.6 149.6 127.3 163.8 185.4 168.4 453.8 240.8 154.9 157.0 186.0 115.3 243.8 367.0 190.7 209.6 689.8 349.1 314.5 246.2 234.5 196.8 181.9 179.4 208.0 180.1 152.1 140.6 123.0 114.5 111.6 78.6 82.1 80.2 84.6 99.8 115.8 80.9 115.9
Total Assets 787.9 804.3 1,361.2 1,245.9 1,248.8 1,240.8 1,222.0 1,212.2 1,121.4 1,146.1 1,146.4 1,159.0 1,174.3 1,191.6 1,174.2 1,162.7 1,150.2 1,139.5 1,120.5 1,097.1 1,067.6 1,052.0 431.0 528.9 502.4 479.4 443.9 406.2 370.3 339.8 315.5 309.9 303.5 265.3 262.3 257.0 264.6 282.1 291.1 250.5 279.0
Total Debt 234.9 290 797.9 700.3 696.7 683.4 675.6 675.2 595.3 596.2 590.0 587.5 586.3 584.3 579.5 577.2 577.8 581.9 572.9 572.5 572.3 450.7 13.1 163.2 162.7 168.2 160.8 160.9 160.3 149.3 149.2 149.2 149.2 97.3 97.0 96.8 96.5 96.2 96.0 23.3 23.2
Stockholders' Equity 330.7 340.5 341.3 349.4 362.0 360.2 360.8 361.8 359.4 362.5 393.7 415.7 432.1 441.2 445.4 441.7 435.9 410.5 413.2 397.3 372.1 476.5 307.0 267.8 241.9 217.8 190.4 158.9 126.4 112.3 114.9 112.1 106.1 113.6 116.7 117.5 128.9 142.3 158.2 186.6 220.4
Cash Flow
Operating Cash Flow (13.5) (18.0) 20.6 (15.9) (35.7) (3.5) 10.4 (1.7) (31.6) (14.6) (19.3) (22.7) (16.7) (3.7) 22.4 15.8 (3.7) 14.4 24.4 26.2 17.8 53.5 31.0 12.7 2.0 7.0 14.9 9.1 (4.3) 16.8 5.6 (7.5) (16.8) (2.9) 2.5 (5.9) (26.9) (13.7) (33.5) (29.4) (31.0)
Capital Expenditure (5.2) (4.9) (5.7) (5.5) (10.6) (8.9) (10.7) (11.4) (11.8) (6.8) (7.3) (6.9) (6.1) (6.4) (5.7) (4.1) (5.1) (14.3) (3.3) (2.6) (4.0) (5.8) (2.8) (3.3) (3.1) (3.1) (2.7) (2.4) (2.3) (1.8) (1.4) (1.5) (2.1) (1.9) (1.8) (1.2) (2.4) (3.4) (4.8) (6.6) (2.8)
Free Cash Flow (18.7) (22.9) 14.9 (21.4) (46.3) (12.4) (0.3) (13.2) (43.4) (21.4) (26.6) (29.7) (22.8) (10.1) 16.7 11.6 (8.8) 0.1 21.1 23.6 13.8 47.7 28.2 9.4 (1.2) 3.9 12.2 6.7 (6.6) 15.0 4.3 (9.0) (18.9) (4.8) 0.8 (7.1) (29.3) (17.1) (38.3) (36.0) (33.8)