Protagonist Therapeutics, Inc. logo PTGX - Protagonist Therapeutics, Inc.

Price: -- -- | CONSENSUS: Buy DETAILS
STRONG
BUY
0
BUY 25
HOLD 1
SELL 0
STRONG
SELL
0
| PRICE TARGET: $115.40 DETAILS
HIGH: $121.00
LOW: $108.00
MEDIAN: $117.00
CONSENSUS: $115.40
UPSIDE: 16.34%
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
Revenue
Revenue 56.4 7.4 4.7 5.5 28.3 170.6 4.7 4.2 255.0 60 0 0 0 0 0 0.9 25.7 8.6 10.3 2.3 6.2 5.7 13.1 6.2 3.6 2.7 4.1 (8.2) 1.6 2.4 6.1 11.7 10.8 11.3 8.8 0 0 0 0 0 0 0 0 0 0
Cost of Revenue 0.4 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0.8 0.8 0.8 0 0 0 0 0 0 0 0 0 2.8 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Gross Profit 56.0 7.4 4.7 5.5 28.3 170.6 4.7 4.2 255.0 60 0 0 0 0 0 0.0 24.9 7.8 10.3 2.3 6.2 5.7 13.1 6.2 3.6 2.7 4.1 (11.0) 1.6 2.4 6.1 11.7 10.8 11.3 8.8 0 0 0 0 0 0 0 0 0 0
Operating Expenses
R&D Expenses 46.7 46.4 40.0 37.0 35.9 34.9 36.0 33.5 33.7 28.9 30.7 33.2 27.4 29.9 25.4 34.6 36.3 39.3 37.0 27.4 25.1 20.1 16.0 20.3 18.8 15.9 17.3 19.4 12.4 14.2 12.1 17.7 15.4 11.7 11.2 12.0 11.3 8.8 5.6 5.7 5.6 4.2 3.2 2.3 2.2
SG&A Expenses 13.3 11.4 11.1 10.6 11.7 9.0 10.2 9.4 14.9 8.1 7.7 9.2 8.6 6.6 6.9 6.8 9.7 6.4 7.3 6.7 6.0 5.0 4.9 4.2 4.6 4.1 4.0 3.9 3.8 3.5 3.4 3.2 3.6 3.1 2.6 3.1 3.0 2.6 1.6 1.4 1.4 0.8 0.9 0.8 0.5
Other Expenses (0.4) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 (1.0) (0.8) (0.6) (0.1) 0 0 0.1 0 0 0 0 0 0 0 0 0 0 0 0 0 (0.0) 0 0 0 0 0
Operating Expenses 59.6 57.8 51.1 47.6 47.6 43.9 46.1 43.0 48.6 37.0 38.3 42.4 36.0 36.5 32.3 41.5 46 45.7 44.2 33.1 30.2 24.5 20.9 24.4 23.3 20.0 21.3 23.2 16.2 17.8 15.5 20.9 19.0 14.8 13.8 15.1 14.3 11.4 7.1 7.1 7.0 5.0 4.0 3.1 2.7
Operating Income
Operating Income (3.6) (50.4) (46.4) (42.0) (19.3) 126.8 (41.5) (38.8) 206.3 23.0 (38.3) (42.4) (36.0) (36.5) (32.3) (41.4) (21.1) (37.9) (33.9) (30.9) (24.0) (18.8) (7.8) (18.2) (19.7) (17.3) (17.2) (31.4) (14.6) (15.4) (9.4) (9.2) (8.2) (3.5) (5.0) (15.1) (14.3) (11.4) (7.1) (7.1) (7.0) (5.0) (4.0) (3.1) (2.7)
Interest Expense 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 0.2 0.2 0.2 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Interest Income 5.9 6.8 7.0 7.4 7.6 6.9 7.7 7.4 4.4 4.2 4.3 3.9 2.5 2.3 1.2 0.5 0.2 0.1 0.1 0.1 0.1 0.1 0.1 0.2 0.5 0.7 0.8 0.6 0.7 0.7 0.7 0.6 0.6 0.5 0.2 0.2 0.2 0.1 0.1 0.0 0.0 0.0 0.0 0 0.0
Profitability
EBITDA (3.2) (50.0) (39.0) (41.7) (19.1) 127.3 (40.8) (37.3) 206.5 23.9 (37.5) (41.5) (35.2) (31.7) (31.4) (40.2) (20.1) (37.0) (33.2) (30.7) (23.8) (18.5) (7.1) (17.4) (19) (13.8) (15.9) (30.2) (13.3) (15.3) (9.2) (9.1) (8.2) (3.4) (4.9) (15.0) (14.2) (11.3) (7.1) (7.0) (7.0) (4.9) (4.0) (3.0) (2.6)
EBIT (3.6) (50.4) (39.3) (42.0) (19.3) 126.8 (41.5) (38.8) 206.3 23.0 (38.3) (42.4) (36.0) (32.5) (32.3) (41.0) (20.9) (37.8) (33.9) (30.9) (24.0) (18.8) (7.8) (18.1) (19.7) (14.5) (16.5) (30.8) (13.9) (15.4) (9.4) (9.2) (8.2) (3.5) (5.0) (15.1) (14.3) (11.4) (7.1) (7.1) (7.0) (5.0) (4.0) (3.1) (2.7)
Income Before Tax 2.3 (43.7) (39.3) (34.6) (11.7) 133.7 (33.6) (31.3) 210.7 27.3 (34.1) (38.5) (33.7) (34.2) (31.2) (41.0) (20.9) (37.8) (33.8) (30.8) (24.0) (18.9) (7.8) (18.3) (19.9) (16.6) (16.5) (30.8) (13.9) (14.7) (8.7) (8.7) (7.7) (3.1) (4.8) (15.0) (14.1) (11.2) (7.1) (7.1) (11.7) (5.5) (3.4) (3.2) (2.7)
Income Tax Expense (1.5) 0.7 0 0.2 0 2.0 (0.4) (0.7) 3.3 0 0 0 0 0 0 0 0 (0.9) 0 0 0 0 0 1.1 0.2 0.9 (0.1) (1.6) 0.2 (0.8) 0 0 0 0 0 0 0 (0.1) 0 (0.0) 0 0 0 0 0.0
Net Income 3.8 (44.4) (39.3) (34.8) (11.7) 131.7 (33.2) (30.6) 207.3 27.3 (34.1) (38.5) (33.7) (34.2) (31.2) (41.0) (20.9) (36.9) (33.8) (30.8) (24.0) (18.9) (7.8) (19.4) (20.1) (17.5) (16.4) (29.2) (14.1) (13.9) (8.7) (8.7) (7.7) (3.1) (4.8) (15.0) (14.1) (11.2) (7.1) (7.1) (11.7) (5.5) (3.4) (3.2) (2.7)
Per Share Data
EPS (Basic) 0.06 -0.69 -0.62 -0.55 -0.19 2.11 -0.54 -0.50 3.41 0.45 -0.58 -0.68 -0.62 -0.64 -0.62 -0.83 -0.43 -0.77 -0.70 -0.69 -0.54 -0.48 -0.21 -0.59 -0.72 -0.63 -0.61 -1.18 -0.58 -0.57 -0.38 -0.41 -0.36 -0.15 -0.29 -0.89 -0.84 -0.67 -0.84 -0.43 -2.00 -0.93 -0.59 -0.55 -0.46
EPS (Diluted) 0.05 -0.69 -0.62 -0.55 -0.19 1.98 -0.54 -0.50 3.26 0.44 -0.58 -0.68 -0.62 -0.64 -0.61 -0.83 -0.43 -0.77 -0.70 -0.69 -0.54 -0.48 -0.21 -0.59 -0.72 -0.63 -0.61 -1.18 -0.58 -0.57 -0.38 -0.41 -0.36 -0.15 -0.29 -0.89 -0.84 -0.67 -0.84 -0.43 -2.00 -0.93 -0.59 -0.55 -0.46
Shares Outstanding 65.1 63.6 63.8 63.5 63.0 62.3 61.8 61.3 60.9 60.4 59.2 56.8 50.6 49.3 48.8 48.9 48.7 48.2 48.0 44.9 44.2 39.6 37.4 32.8 27.7 27.6 27.0 24.7 24.3 24.2 22.9 21.2 21.1 20.2 16.9 16.9 16.8 16.7 8.5 16.3 5.9 5.9 5.9 5.9 5.9
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
Current Assets
Cash & Cash Equivalents 193.7 128.4 113.7 168.5 139.7 97.2 131.1 355.6 172.6 186.7 230.5 235.4 127.7 125.7 152.8 120.2 98.5 123.7 120.5 192.4 83 117.4 83.6 146.2 60.2 33.0 50.2 71.1 70.1 82.2 87.4 63.9 69.6 106.0 50.4 10.4 9.5 21.1 96.0 13.8 28.6
Short-Term Investments 354.1 439.0 462.4 401.9 434.7 321.7 337.6 208.4 150.1 154.9 90.2 78.0 103.1 111.6 114.6 171.7 206.8 203.2 193.8 161.9 190.5 188.5 110.3 62.4 57.3 100.0 87.5 55.0 42.5 46.6 51.1 61.3 65.4 38.0 43.2 54.1 53.7 56.5 2.5 6.4 0.4
Net Receivables 57.1 4.5 0.6 28.0 27.1 168.5 2.7 1.4 300.4 10.3 0.1 0.1 0.1 0.1 0.6 3.4 28.5 5.3 4.5 9.9 5.9 3.8 3.3 3.4 4.0 6.8 2.8 6.7 7.1 4.6 5.7 8.0 4.6 3.2 1.5 2.9 2.6 2.2 2.0 0 1.3
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 0.0 0.0 2.1 0.0 0.0 0.0 0 0 0.0 0.0 0 0.0 0.0 0.3
Other Current Assets 0 0 4.7 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 (0.1) 0.0 0.0 (0.1) (0.3) 0.8 0 0 0 (0.2) 0 0 0 0.1 0.0 (0.0) (0.1) 0.5 (0.1) 2.0 0.1
Total Current Assets 613.5 577.6 586.4 602.5 605.9 591.6 476.8 570.9 627.6 355.6 324.9 316.9 235.7 243.1 276.6 304.3 341.5 340.7 327.7 371.8 285.5 315.6 204.2 217.5 126.0 145.3 144.0 137.3 123.0 137.5 147.5 136.1 142.2 150.9 97.7 69.1 67.5 83.2 102.2 22.4 30.9
Non-Current Assets
Property, Plant & Equipment 11.2 11.7 12.3 12.7 12.5 12.6 12.3 12.0 1.5 2.1 2.9 3.3 3.9 4.6 5.3 6.0 6.5 6.7 7.1 6.1 6.1 6.4 6.7 7.1 7.4 7.7 8.0 8.2 8.3 0.9 0.9 0.9 1.0 0.9 0.9 0.9 0.6 0.6 0.6 0.6 0.8
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 72.8 78.9 102.7 102.5 123.5 140.3 114.6 31.4 0 0 2.0 0 0 0 0 0 0 0 38.2 26.1 6.3 2 6.0 0 0 0 0 0 0 0 0 0 5.6 11.5 11.3 0 14 10.2 0 0 0
Other Non-Current Assets 0 0 0.3 0.3 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.0 0.0 1.5 0.2
Total Non-Current Assets 84.0 92.3 115.3 115.5 136.3 153.1 127.1 43.7 1.7 2.4 5.1 3.5 4.1 4.9 5.6 6.2 6.8 7.0 45.5 32.4 12.6 8.9 13.2 7.5 8.9 9.6 10.6 10.8 9.3 2.0 1.4 1.4 7.0 12.8 12.7 1.4 15.1 10.7 0.6 2.1 0.9
Total Assets 697.5 669.9 701.7 718.0 742.1 744.7 603.9 614.6 629.3 358.0 330.0 320.5 239.9 247.9 282.2 310.5 348.3 347.7 373.2 404.2 298.1 324.5 217.3 225.0 134.9 154.9 154.6 148.1 132.2 139.5 148.9 137.5 149.2 163.7 110.4 70.5 82.7 94.0 102.8 24.5 31.9
Current Liabilities
Account Payables 8.4 5.3 5.6 3.2 2.9 1.6 3.0 3.6 3.5 0.8 1.3 4.6 4.0 3.6 4.7 1.4 7.2 1.6 0.7 7.9 2.7 3.1 2.8 2.9 3.7 2.8 1.6 2.8 6.5 5.7 4.9 2.3 1.3 1.3 2.3 2.6 1.1 1.2 2.3 1.4 1.9
Short-Term Debt 2.3 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 1.2 1.2 1.1 0 0 0 0 0 0 0 0 0 0 0 0
Deferred Revenue 6.3 9.6 0 14.7 16.9 18.9 19.7 20.1 16.1 0 0.0 0.0 0.0 0.1 0.0 0.1 1.1 2.5 3.4 13.4 12.6 17.2 18.8 18.2 19.7 19 17.5 18.5 8.2 8.2 8.7 13.5 22.3 31.8 41.7 0 0 0 0 0 0
Other Current Liabilities 13.3 15.5 14.4 5.0 2.9 23.7 20.6 5.4 2.5 6.8 4.5 3.6 2.1 5.0 4.7 4.4 2.6 7.1 4.7 3.8 1.8 6.4 4.4 2.8 1.7 4.6 6.8 8.0 7.1 9.5 8.8 13.6 22.6 6.8 6.6 0.2 0.1 0.1 0.3 0 0
Total Current Liabilities 34.5 45.4 44.9 35.5 35.1 47.4 44.6 41.6 39.9 21.3 27.9 26.4 23.2 31.2 36.8 40.1 43.5 44.0 39.2 43.0 34.5 40.2 38.6 35.4 36.4 35.4 30.8 33.3 24.5 26.2 24.1 29.0 33.9 42.6 52.2 9.4 7.8 6.4 5.3 4.1 4.5
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 9.8 9.8 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Deferred Tax Liabilities 0 1.7 0 0 0 0 0 0 0 0.2 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0.7 0 0 0 0 0 0 0 0 0 0 0
Other Non-Current Liabilities 0 0 2.8 5.4 8.2 11.7 16.5 0 0 (0.2) 0 0 0 0 0 0 0 0 0.1 0.1 0.1 0.1 0.2 0.1 0 0 0 0 0 0.1 0.8 0.8 0.7 0.5 0.3 0.1 0 0 0 0 1.0
Total Non-Current Liabilities 7.4 9.7 11.3 14.5 18.0 22.0 27.4 31.7 28.9 0 0 0 0.5 1.1 1.8 2.4 3.1 3.7 4.4 3.8 4.2 4.6 9.2 22.1 35.9 39.5 28.5 30.5 6.9 0.8 0.8 0.8 0.7 0.5 0.3 0.1 0 0 0 0 1.0
Total Liabilities 42.0 55.2 56.3 50.0 53.1 69.4 71.9 73.3 68.8 21.3 27.9 26.4 23.7 32.3 38.6 42.5 46.5 47.7 43.5 46.8 38.7 44.9 47.7 57.5 72.2 75.0 59.3 63.8 31.4 27.0 24.9 29.8 34.6 43.1 52.6 9.4 7.8 6.4 5.3 4.1 5.5
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 0.1 0.1
Retained Earnings (466.9) (470.7) (426.3) (386.9) (352.2) (340.5) (472.2) (439.0) (408.4) (615.7) (643.0) (608.9) (570.5) (536.8) (502.6) (471.3) (430.3) (409.4) (372.5) (338.7) (307.8) (283.8) (264.9) (257.2) (237.7) (217.7) (200.2) (183.8) (154.6) (140.5) (126.6) (117.9) (109.2) (101.5) (98.5) (93.7) (78.7) (64.6) (53.3) (46.3) (39.2)
Accumulated Other Comprehensive Income (0.3) 0.6 0.5 (0.0) 0.1 (0.1) 1.3 (0.2) (0.2) (0.1) (0.2) (0.2) (0.1) (0.4) (0.5) (0.7) (0.5) (0.3) (0.2) (0.1) (0.0) 0.0 (0.1) (0.2) 0.1 (0.2) (0.2) (0.2) (0.2) (0.2) (0.1) (0.1) (0.1) (0.0) 0.1 0.0 (0.0) (0.2) (0.0) (0.1) (0.1)
Total Stockholders' Equity 655.5 614.7 645.4 668.0 689.1 675.3 531.9 541.3 560.4 336.7 302.1 294.1 216.2 215.6 243.6 268.0 301.8 300.0 329.7 357.4 259.3 279.6 169.6 167.5 62.7 80.0 95.4 84.3 100.8 (140.5) 124.0 107.7 114.6 (101.5) (98.5) 61.0 74.9 (64.6) 97.5 20.4 26.4
Total Liabilities & Equity 697.5 669.9 701.7 718.0 742.1 744.7 603.9 614.6 629.3 358.0 330.0 320.5 239.9 247.9 282.2 310.5 348.3 347.7 373.2 404.2 298.1 324.5 217.3 225.0 134.9 154.9 154.6 148.1 132.2 (113.5) 148.9 137.5 149.2 (58.4) (45.9) 70.5 82.7 (58.2) 102.8 24.5 31.9
Debt Metrics
Total Debt 9.8 10.3 10.7 11.3 11.4 10.9 10.9 11.0 0.5 1.1 1.8 2.4 3.1 3.7 4.2 4.8 5.3 5.9 6.3 5.3 5.6 6.0 6.3 6.6 16.8 17.0 7.5 7.8 8.0 0 0 0 0 0 0 0 0 0 0 0 0
Net Debt (183.9) (118.1) (103.0) (157.3) (128.3) (86.4) (120.2) (344.7) (172.1) (185.6) (228.7) (232.9) (124.6) (122.1) (148.6) (115.4) (93.1) (117.8) (114.3) (187.2) (77.4) (111.4) (77.3) (139.6) (43.5) (16.0) (42.7) (63.4) (62.0) (82.2) (87.4) (63.9) (69.6) (106.0) (50.4) (10.4) (9.5) (21.1) (96.0) (13.8) (28.6)
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 3.8 85.8 (39.3) (34.8) (11.7) 131.7 (33.2) (30.6) 207.3 27.3 (34.1) (38.5) (33.7) (34.2) (31.2) (41.0) (20.9) (36.9) (33.8) (30.8) (24.0) (18.9) (7.8) (19.4) (20.1) (17.5) (16.4) (29.2) (14.1) (13.9) (8.7) (8.7) (7.7) (3.1) (4.8) (15.0) (14.1) (11.2) (7.1) (7.1) (11.7)
Depreciation & Amortization 0.4 (0.9) 0.4 0.3 0.2 0.5 0.6 0.9 0.8 0.8 0.8 0.8 0.8 0.8 0.9 0.8 0.8 0.8 0.7 0.6 0.6 0.6 0.6 0.6 0.7 0.2 0.6 0.6 0.6 0.1 0.2 0.2 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1
Stock-Based Compensation 14.5 10.7 0 10.9 13.8 9.1 10.2 0 0 6.6 6.8 8.3 7.6 5.5 6.0 6.8 5.9 5.0 4.8 3.9 2.7 2.0 1.9 2.0 2.0 0 2.2 2.0 2.0 2.1 2.0 1.6 1.2 1.2 1.2 1.0 0.8 1.5 0.4 0.1 0.1
Change in Working Capital (67.1) (2.7) 28.1 (3.9) 124.7 (167.7) (2.6) 291.1 (243.3) (16.5) 0.9 4.0 (8.0) (2.9) (0.7) 19.7 (23.9) 3.6 (0.6) 2.1 (8.4) (2.9) (11.1) (5.9) 0.9 (0.2) (0.4) 32.0 (5.2) 2.3 (2.9) (8.5) (8.9) (12.6) 44.0 1.5 2.7 (0.1) (0.4) (1.2) 1.6
Other Non-Cash Items (0.6) (129.9) 9.0 (1.3) (1.7) (2.8) (2.8) 7.3 7.7 (1.3) (1.0) (1.0) (1.1) (0.9) (0.1) 0.1 0.4 0.5 0.5 0.5 0.3 0.3 0.1 (0.1) 0.4 2.4 (0.2) (0.1) (0.1) (0.1) 0.2 (0.0) 0.1 1.4 1.4 1.2 1.0 0.0 0.0 0.0 4.7
Operating Cash Flow (48.9) (37.0) (1.9) (28.8) 125.4 (29.2) (27.9) 268.6 (27.4) 17.0 (26.6) (26.2) (34.3) (31.6) (25.2) (13.6) (37.7) (26.9) (28.5) (23.7) (28.8) (18.9) (16.3) (21.5) (15.8) (14.3) (14.2) 3.7 (16.7) (10.1) (9.3) (15.4) (15.1) (14.1) 40.7 (12.3) (10.4) (9.7) (7.0) (8.1) (5.2)
Investing Activities
Capital Expenditure (0.2) 1.4 (0.1) (0.8) (0.5) (0.3) (0.8) (0.0) (0.2) (0.0) (0.4) (0.2) (0.0) (0.1) (0.2) (0.3) (0.3) (0.2) (0.3) (0.5) (0.1) (0.1) (0.1) (0.1) (0.1) (0.2) 0.3 (0.9) (0.2) (0.1) (0.1) (0.1) (0.2) (0.1) (0.2) (0.4) (0.0) (0.1) (0.0) (0.0) (0.3)
Acquisitions 0 0 0 0 0 0 0 0 0 0 0 (25.9) (9.8) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 (6.4) 0 0 0
Purchases of Investments (69.0) 442.3 (161.1) (67.2) (214.0) (114.4) (266.7) (175.0) (65.7) (98.0) (59.0) (6.1) (28.1) (80.6) (32.2) (46.3) (55.8) (30.7) (92.4) (76.3) (87.2) (132.4) (80.8) (45.9) (20.9) (49.1) (65.3) (30.7) (21.7) (19.1) (12.9) (13.4) (25.6) (11.4) (20.2) 0 (8.0) (66.8) 0 0 0
Sales/Maturities of Investments 160.1 (345.6) 102.7 122.8 120.2 106.0 58.7 86.9 72.0 36.7 45.8 32 37.9 84.6 89.6 81.3 51.6 58.8 48 84.5 80.6 58.1 26.8 40.8 63.8 36.8 33 18.4 26 23.7 23 23.0 4 16.2 19.6 13.5 6.8 2.5 3.9 0.4 7.4
Other Investing Activities 0 (49.3) 0 (0.0) 0 0 0 0 0 0 0 25.9 9.8 0 0 0 0 0 0 0 0 0 0 0 0 0 (32.3) (12.3) 4.3 4.6 10.1 9.7 (21.6) 4.8 (0.6) 13.5 (1.2) 6.4 0.0 (6.4) 7.4
Investing Cash Flow 90.9 48.8 (58.6) 54.8 (94.4) (8.7) (208.7) (88.1) 6.1 (61.3) (13.6) 25.8 9.8 3.9 57.3 34.7 (4.5) 27.9 (44.7) 7.8 (6.8) (74.4) (54.1) (5.2) 42.7 (12.6) (32.0) (13.2) 4.1 4.5 9.9 9.6 (21.8) 4.8 (0.8) 13.1 (1.2) (64.3) 3.9 (6.0) 7.1
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 0 0 (10.5) (0.0) 9.8 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 (0.9) 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 (0.5) 4.0 0 0 (0.6) 0.5 35.4 0.3 2.2 0.6 (0.0) 0 2.4 2.3 0 1.4 (0.2) 0.3 1.5 0 0 0 1.3 10.6 0.4 0.0 0.3 0.1 0.5 0.5 0.0 0.1 0.4 0 85.3 (0.8) 0.1
Financing Cash Flow 23.4 2.8 5.7 2.9 11.4 4.0 12.1 2.6 7.2 0.5 35.3 108.2 26.5 0.6 0.7 0.7 16.9 2.2 1.4 125.4 1.0 127.0 7.7 112.6 0.4 9.8 25.2 10.6 0.4 0.5 23.0 0.1 0.5 65.1 0.0 0.1 0.4 (0.9) 85.3 (0.8) 22.6
Cash Position
Net Change in Cash 65.3 14.7 (54.8) 29.0 42.4 (33.9) (224.5) 183.1 (14.2) (43.8) (4.9) 107.7 1.9 (27.1) 32.6 21.8 (25.2) 3.1 (71.9) 109.4 (34.4) 33.7 (62.6) 86.0 27.2 (17.2) (20.9) 1.1 (12.2) (5.2) 23.6 (5.7) (36.5) 55.6 40.0 0.8 (11.1) (74.9) 82.3 (14.9) 24.6
Cash at Beginning 128.7 114 168.5 139.9 97.2 131.3 355.6 172.6 186.7 230.8 235.6 127.9 126.0 153.0 120.2 98.5 123.9 120.8 192.4 83.2 117.4 84.1 146.7 60.2 33.0 50.2 71.6 70.5 82.7 87.9 64.3 70.0 106.5 50.9 10.8 10.0 21.1 96.0 13.8 28.6 4.1
Cash at End 194 128.4 113.7 168.8 139.7 97.5 131.1 355.6 172.6 187.0 230.8 235.6 127.9 126.0 152.8 120.2 98.7 123.9 120.5 192.6 83 117.8 84.1 146.3 60.2 33.0 50.7 71.6 70.5 82.7 87.9 64.3 70.0 106.5 50.9 10.8 10.0 21.1 96.0 13.8 28.6
Free Cash Flow (49.2) (35.5) (2.0) (29.6) 124.8 (29.5) (28.6) 268.6 (27.7) 16.9 (27.0) (26.4) (34.4) (31.7) (25.4) (13.9) (37.9) (27.1) (28.7) (24.2) (28.9) (19.0) (16.4) (21.6) (16.0) (14.5) (13.9) 2.8 (16.8) (10.2) (9.4) (15.5) (15.3) (14.2) 40.5 (12.7) (10.4) (9.7) (7.0) (8.1) (5.5)
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
Income Statement
Revenue 56.4 7.4 4.7 5.5 28.3 170.6 4.7 4.2 255.0 60 0 0 0 0 0 0.9 25.7 8.6 10.3 2.3 6.2 5.7 13.1 6.2 3.6 2.7 4.1 (8.2) 1.6 2.4 6.1 11.7 10.8 11.3 8.8 0 0 0 0 0 0 0 0 0 0
Gross Profit 56.0 7.4 4.7 5.5 28.3 170.6 4.7 4.2 255.0 60 0 0 0 0 0 0.0 24.9 7.8 10.3 2.3 6.2 5.7 13.1 6.2 3.6 2.7 4.1 (11.0) 1.6 2.4 6.1 11.7 10.8 11.3 8.8 0 0 0 0 0 0 0 0 0 0
Operating Income (3.6) (50.4) (46.4) (42.0) (19.3) 126.8 (41.5) (38.8) 206.3 23.0 (38.3) (42.4) (36.0) (36.5) (32.3) (41.4) (21.1) (37.9) (33.9) (30.9) (24.0) (18.8) (7.8) (18.2) (19.7) (17.3) (17.2) (31.4) (14.6) (15.4) (9.4) (9.2) (8.2) (3.5) (5.0) (15.1) (14.3) (11.4) (7.1) (7.1) (7.0) (5.0) (4.0) (3.1) (2.7)
Net Income 3.8 (44.4) (39.3) (34.8) (11.7) 131.7 (33.2) (30.6) 207.3 27.3 (34.1) (38.5) (33.7) (34.2) (31.2) (41.0) (20.9) (36.9) (33.8) (30.8) (24.0) (18.9) (7.8) (19.4) (20.1) (17.5) (16.4) (29.2) (14.1) (13.9) (8.7) (8.7) (7.7) (3.1) (4.8) (15.0) (14.1) (11.2) (7.1) (7.1) (11.7) (5.5) (3.4) (3.2) (2.7)
EPS (Diluted) 0.05 -0.69 -0.62 -0.55 -0.19 1.98 -0.54 -0.50 3.26 0.44 -0.58 -0.68 -0.62 -0.64 -0.61 -0.83 -0.43 -0.77 -0.70 -0.69 -0.54 -0.48 -0.21 -0.59 -0.72 -0.63 -0.61 -1.18 -0.58 -0.57 -0.38 -0.41 -0.36 -0.15 -0.29 -0.89 -0.84 -0.67 -0.84 -0.43 -2.00 -0.93 -0.59 -0.55 -0.46
Balance Sheet
Cash & Equivalents 193.7 128.4 113.7 168.5 139.7 97.2 131.1 355.6 172.6 186.7 230.5 235.4 127.7 125.7 152.8 120.2 98.5 123.7 120.5 192.4 83 117.4 83.6 146.2 60.2 33.0 50.2 71.1 70.1 82.2 87.4 63.9 69.6 106.0 50.4 10.4 9.5 21.1 96.0 13.8 28.6
Total Assets 697.5 669.9 701.7 718.0 742.1 744.7 603.9 614.6 629.3 358.0 330.0 320.5 239.9 247.9 282.2 310.5 348.3 347.7 373.2 404.2 298.1 324.5 217.3 225.0 134.9 154.9 154.6 148.1 132.2 139.5 148.9 137.5 149.2 163.7 110.4 70.5 82.7 94.0 102.8 24.5 31.9
Total Debt 9.8 10.3 10.7 11.3 11.4 10.9 10.9 11.0 0.5 1.1 1.8 2.4 3.1 3.7 4.2 4.8 5.3 5.9 6.3 5.3 5.6 6.0 6.3 6.6 16.8 17.0 7.5 7.8 8.0 0 0 0 0 0 0 0 0 0 0 0 0
Stockholders' Equity 655.5 614.7 645.4 668.0 689.1 675.3 531.9 541.3 560.4 336.7 302.1 294.1 216.2 215.6 243.6 268.0 301.8 300.0 329.7 357.4 259.3 279.6 169.6 167.5 62.7 80.0 95.4 84.3 100.8 (140.5) 124.0 107.7 114.6 (101.5) (98.5) 61.0 74.9 (64.6) 97.5 20.4 26.4
Cash Flow
Operating Cash Flow (48.9) (37.0) (1.9) (28.8) 125.4 (29.2) (27.9) 268.6 (27.4) 17.0 (26.6) (26.2) (34.3) (31.6) (25.2) (13.6) (37.7) (26.9) (28.5) (23.7) (28.8) (18.9) (16.3) (21.5) (15.8) (14.3) (14.2) 3.7 (16.7) (10.1) (9.3) (15.4) (15.1) (14.1) 40.7 (12.3) (10.4) (9.7) (7.0) (8.1) (5.2)
Capital Expenditure (0.2) 1.4 (0.1) (0.8) (0.5) (0.3) (0.8) (0.0) (0.2) (0.0) (0.4) (0.2) (0.0) (0.1) (0.2) (0.3) (0.3) (0.2) (0.3) (0.5) (0.1) (0.1) (0.1) (0.1) (0.1) (0.2) 0.3 (0.9) (0.2) (0.1) (0.1) (0.1) (0.2) (0.1) (0.2) (0.4) (0.0) (0.1) (0.0) (0.0) (0.3)
Free Cash Flow (49.2) (35.5) (2.0) (29.6) 124.8 (29.5) (28.6) 268.6 (27.7) 16.9 (27.0) (26.4) (34.4) (31.7) (25.4) (13.9) (37.9) (27.1) (28.7) (24.2) (28.9) (19.0) (16.4) (21.6) (16.0) (14.5) (13.9) 2.8 (16.8) (10.2) (9.4) (15.5) (15.3) (14.2) 40.5 (12.7) (10.4) (9.7) (7.0) (8.1) (5.5)