Ultragenyx Pharmaceutical Inc. logo RARE - Ultragenyx Pharmaceutical Inc.

Price: -- -- | CONSENSUS: Buy DETAILS
STRONG
BUY
0
BUY 27
HOLD 5
SELL 1
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| PRICE TARGET: $48.36 DETAILS
HIGH: $67.00
LOW: $26.00
MEDIAN: $45.00
CONSENSUS: $48.36
UPSIDE: 106.76%
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 Q2 2013 Q1 2012 Q4
Revenue
Revenue 136 207 159.9 166.5 139.3 164.9 139.5 147.0 108.8 127.4 98.1 108.3 100.5 103.3 90.7 89.3 79.9 83.4 81.6 87.0 99.4 91.5 81.5 61.7 36.3 35.6 25.8 24.1 18.2 16.3 11.8 12.8 10.7 2.4 0.2 0 0 0.0 0.1 0.0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Cost of Revenue 30 29 28.0 23.0 28.7 16.9 21.0 21.3 17.5 12.1 11.0 9.9 12.3 5.3 8.6 8.3 6.1 3.5 4.2 3.1 5.2 5.5 2.3 1.8 (3.5) 5.1 2.7 0.8 0.5 0.5 0.3 0.1 0.2 0.0 60.4 58.4 51.3 50.7 48.7 43.3 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Gross Profit 106 178 131.9 143.5 110.6 148.0 118.5 125.7 91.3 115.3 87.1 98.4 88.2 98.0 82.1 81.1 73.8 79.9 77.5 83.8 94.2 86.1 79.1 59.9 39.8 30.5 23.1 23.4 17.7 15.8 11.5 12.7 10.5 2.4 (60.2) (58.4) (51.3) (50.7) (48.6) (43.3) 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Operating Expenses
R&D Expenses 187 203 216.2 164.7 165.8 187.8 170.1 161.5 178.5 160.6 157.2 164.9 165.7 170.8 237.3 154.5 143.2 123.0 113.4 113.2 147.5 131.1 87.3 80.7 113.0 83.1 100.1 96.0 78.1 71.6 70.0 76.8 75.5 61.5 60.4 58.4 51.3 50.7 48.7 43.3 40.4 44.6 29.7 23.1 17.4 13.5 12.9 11.2 8.4 8.2 6.8 7.2 5.7 3.8
SG&A Expenses 88 89 86.6 86.6 87.8 82.5 80.4 80.6 78.2 76.8 74.9 81.4 76.6 72.8 69.8 68.1 67.3 59.4 53.9 53.4 53.3 51.0 42.1 42.3 47.5 41.9 41.0 39.8 38.8 34.5 31.1 30.7 31.4 37.7 23.5 20.0 18.7 19.8 17.2 14.7 13.2 11.6 10.2 7.0 4.1 3.4 3.0 2.4 2.0 1.3 1.0 1.0 1.1 0.9
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 3.4 4.4 0.6 (0.7) 0.9 0.2 (0.1) 0.0 0 (0.1) (0.1) 0 0 (0.1) 0 0 0 0 (0.0) 0
Operating Expenses 275 292 302.8 251.4 253.6 270.3 250.5 242.1 256.6 237.4 232.2 246.4 242.3 243.7 307.1 222.7 210.5 182.4 167.3 166.6 200.8 182.1 129.4 123.0 160.5 124.9 141.2 135.9 116.9 106.1 101.1 107.6 106.9 99.2 83.9 78.4 70.0 70.6 65.9 58.1 53.6 56.2 39.9 30.1 21.5 16.9 15.8 13.7 10.3 9.5 7.8 8.2 6.7 4.7
Operating Income
Operating Income (169) (114) (170.9) (107.9) (142.9) (122.3) (132.0) (116.4) (165.3) (122.0) (145.1) (148.0) (154.1) (145.6) (225.1) (141.6) (136.6) (102.6) (89.8) (82.8) (106.6) (96.1) (50.3) (63.1) (120.7) (94.5) (118.0) (112.5) (99.2) (90.3) (89.6) (94.9) (96.5) (96.8) (83.7) (78.4) (70.0) (70.5) (65.8) (58.1) (53.6) (56.2) (39.9) (30.1) (21.5) (16.9) (15.8) (13.7) (10.3) (9.5) (7.8) (8.2) (6.7) (4.7)
Interest Expense 21 19 14.1 14.0 14.3 15.5 15.7 16.0 15.8 17.3 17.7 15.4 15.6 15.9 14.5 6.1 6.6 3.8 8.7 8.5 8.4 8.2 8.6 8.4 8.1 1.1 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
Interest Income 6 6.5 5.9 5.8 6.8 9.6 10.7 7.4 8.8 8.6 5.9 6.0 6.3 6.2 3.5 0.9 0.5 0.4 0.4 0.4 0.6 1.0 1.3 1.8 2.9 2.8 3.3 4.1 3.1 2.6 2.7 2.4 1.7 0.7 1.1 1.2 1.1 0.9 0.9 1.0 1.0 0.9 0.7 0.5 0.3 0.2 0.2 0.1 0.1 0.1 0.1 0.1 0.0 0.0
Profitability
EBITDA (161) (105.2) (156.8) (91.3) (126.4) (108.8) (108.7) (105.9) (145.5) (101.3) (134.1) (138.4) (142.6) (132.5) (219.6) (147.3) (141.1) (115.1) (60.9) (110.3) (124.0) (12.6) (56.9) 37.3 (107.7) (87.9) (110.6) (96.9) (94.4) (87.4) (85.3) (88.8) (90.3) (95.4) (82.6) (77.4) (68.8) (69.4) (64.8) (57.4) (53.1) (55.7) (39.5) (29.9) (21.3) (16.7) (15.6) (13.5) (10.2) (11.2) (7.7) (8.1) (6.6) (4.8)
EBIT (169) (114) (165.4) (100.0) (135.4) (117.9) (117.5) (114.8) (154.4) (109.6) (141.3) (143.7) (147.8) (137.4) (224.3) (151.8) (145.2) (118.6) (64.1) (113.4) (127.3) (15.7) (60.0) 34.2 (110.5) (90.1) (112.7) (99.0) (96.5) (90.3) (89.6) (94.9) (96.5) (97.9) (83.7) (78.4) (70.0) (70.5) (65.8) (58.1) (53.6) (56.2) (39.9) (30.1) (21.5) (16.9) (15.8) (13.7) (10.3) (11.3) (7.8) (8.2) (6.7) (4.9)
Income Before Tax (184) (128) (179.5) (114.0) (149.8) (133.4) (133.2) (130.7) (170.2) (126.9) (159.0) (159.1) (163.5) (153.3) (238.8) (157.9) (151.8) (122.4) (72.8) (122.0) (135.8) (23.9) (68.5) 25.7 (118.6) (91.2) (112.7) (99.0) (96.5) (87.7) (87.1) (52.6) 30.3 (97.9) (79.2) (72.9) (68.3) (71.3) (64.9) (56.9) (52.8) (55.2) (39.2) (29.8) (21.4) (16.7) (15.8) (13.6) (13.6) (11.3) (8.4) (8.6) (6.7) (4.9)
Income Tax Expense 1 1 0.9 0.9 1.3 (0.0) 0.3 0.9 0.5 (3.7) 0.7 0.7 0.5 (1.5) 6.3 0.3 0.6 0.0 0.2 0.5 0.4 0.1 0.3 0.4 0.4 2.6 0.3 0.2 0.2 0.1 0.2 0.1 0.0 (16.2) 0.0 0.0 0 0.0 0 0 0 0 0 0 0 0 0 0 (0.1) 0 (0.1) (0.1) (0.0) (0.3)
Net Income (185) (129) (180.4) (115.0) (151.1) (133.4) (133.5) (131.6) (170.7) (123.2) (159.6) (159.8) (164.0) (151.8) (245.1) (158.2) (152.3) (122.5) (73.0) (122.4) (136.1) (24.0) (68.8) 25.3 (119.0) (93.8) (113.0) (99.2) (96.8) (87.8) (87.3) (52.7) 30.3 (81.7) (79.2) (72.9) (68.3) (71.3) (64.9) (56.9) (52.8) (55.2) (39.2) (29.8) (21.4) (16.7) (15.8) (13.6) (13.6) (11.3) (8.4) (8.6) (6.7) (4.9)
Per Share Data
EPS (Basic) -1.84 -1.29 -1.81 -1.17 -1.57 -1.39 -1.40 -1.52 -2.03 -1.52 -2.23 -2.25 -2.33 -2.16 -3.50 -2.26 -2.19 -1.79 -1.08 -1.81 -2.03 -0.37 -1.13 0.41 -2.05 -1.62 -1.96 -1.72 -1.82 -1.73 -1.74 -1.06 0.63 -1.89 -1.87 -1.72 -1.63 -1.75 -1.64 -1.46 -1.35 -1.42 -1.03 -0.83 -0.63 -0.52 -0.50 -0.45 -0.63 -0.43 -0.37 -0.37 -0.29 -0.21
EPS (Diluted) -1.84 -1.29 -1.81 -1.17 -1.57 -1.39 -1.40 -1.52 -2.03 -1.52 -2.23 -2.25 -2.33 -2.16 -3.50 -2.26 -2.19 -1.79 -1.08 -1.81 -2.03 -0.37 -1.13 0.41 -2.05 -1.62 -1.96 -1.72 -1.82 -1.73 -1.74 -1.06 0.62 -1.89 -1.87 -1.72 -1.63 -1.75 -1.64 -1.46 -1.35 -1.42 -1.03 -0.83 -0.63 -0.52 -0.50 -0.45 -0.63 -0.43 -0.37 -0.37 -0.29 -0.21
Shares Outstanding 100.6 99.9 99.8 98.5 96.3 95.7 95.5 86.6 84.3 81.1 71.7 70.9 70.4 70.2 70.1 69.9 69.5 68.6 67.9 67.6 67.1 64.7 60.7 60.0 58.0 57.8 57.7 57.5 53.2 50.7 50.3 49.8 48.2 43.1 42.5 42.3 41.8 40.8 39.6 39.0 39.0 38.9 38.3 35.9 34.0 31.9 31.6 30.1 21.6 26.1 23.1 23.1 23.1 23.1
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 175 434 212.3 166.1 127.1 173.7 150.6 480.7 112.2 213.6 72.6 102.1 85.8 132.9 391.7 159.9 154.0 307.6 197.5 290.9 383.8 713.5 197.5 335.6 298.2 433.6 122.6 131.3 269.7 113.4 83.0 110.9 226.7 100.5 60.4 90.8 159.5 161.1 142.3 55.1 70.8
Short-Term Investments 238 259 222.7 311.3 367.4 436.3 471.0 283.1 299.8 363.6 369.5 449.9 543.6 614.8 497.0 382.9 444.3 432.6 539.6 554.9 581.6 488.0 568.0 477.8 365.1 321.6 404.5 486.9 445.6 346.3 420.1 436.3 314.6 134.0 310.7 308.9 265.7 219.0 254.2 336.7 341.1
Net Receivables 121 159 114.6 124.5 98.8 121.8 93.3 106.0 100.3 73.4 79.3 70.5 43.0 40.4 31.2 37.2 28.4 28.4 25.4 24.7 25.0 23.1 27.8 23.4 154.9 32.8 23.1 20.9 15.6 12.7 9.2 17.4 3.7 5.2 0 0 0 0 0 0 0
Inventory 55 52 52.2 46.5 46.0 45.0 43.3 40.1 35.9 34.0 31.8 28.3 26.6 26.8 21.8 21.1 17.8 16.2 15.2 15.1 12.5 13.0 14.5 11.1 11.4 11.5 14.1 13.6 10.9 7.1 5.6 3.3 2.1 0.8 0 0 0 0 0 0 0
Other Current Assets 68 47 41.3 71.4 59.8 40.3 41.4 54.7 47.7 47.6 46.0 51.4 67.4 68.9 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0.5 0 0.5 0.5 0.3 1.4 1.4 1.5 1.3
Total Current Assets 657 951 643.2 719.8 699.2 817.1 799.6 964.6 596.0 732.2 599.2 702.1 766.3 883.9 1,012.7 678.5 707.5 856.6 846.9 949.5 1,070.9 1,295.3 872.0 906.0 894.3 851.0 613.5 699.4 786.9 522.4 567.5 547.1 581.6 244.5 390.9 419.8 444.7 498.1 472.6 411.1 430.2
Non-Current Assets
Property, Plant & Equipment 239 267 250.0 255.8 260.9 265.9 272.4 278.7 285.1 290.6 323.2 308.2 300.8 259.7 263.4 238.6 209.8 176.2 155.8 143.2 126.1 114.0 86.4 85.4 83.4 74.7 63.6 58.7 44.7 20.0 19.8 20.9 20.8 21.8 16.0 16.4 16.5 17.1 18.2 17.1 13.4
Goodwill 44 44 44.4 44.4 44.4 44.4 44.4 44.4 44.4 44.4 44.4 44.4 44.4 44.4 44.4 44.4 44.4 44.4 44.4 44.4 44.4 44.4 44.4 44.4 44.4 44.4 44.4 44.4 44.4 44.4 44.4 44.4 44.4 44.4 0 0 0 0 0 0 0
Intangible Assets 174 176 172.9 174.7 176.5 178.3 164.9 166.2 165.0 166.3 157.3 158.2 159.2 160.1 158.4 159.2 160.0 130.8 130.9 130.9 131.0 131.1 131.2 131.3 129 129 129.0 129.1 129.1 129.2 130.2 132.8 137.1 141.5 0 0 0 0 0 0 0
Long-Term Investments 127 59 22.1 51.5 68.6 135.0 203.1 110.7 156.6 199.9 86.1 71.8 90.4 149.0 121.3 178.7 241.1 293.9 290.5 231.7 216.4 165.9 129.3 144.3 77.1 32.9 26.3 24.2 0 0 0 0 29.9 10.0 25.0 57.8 80.9 118.0 76.2 50.0 75.9
Other Non-Current Assets 55 35 57.9 60.1 62.4 62.7 53.9 53.8 60.0 57.7 27.9 26.5 22.3 48.3 18.3 21.1 21.2 20.6 16.4 12.7 8.9 8.8 5.1 2.6 4.9 3.5 3.1 3.2 2.7 3.5 3.2 60.9 3.5 3.4 3.1 3.5 3.8 (92.5) (51.9) 3.8 4.6
Total Non-Current Assets 639 581 547.2 586.5 612.8 686.3 738.8 653.8 711.1 758.8 639.0 609.2 617.1 661.5 605.8 642.1 676.5 665.8 637.9 563.0 526.8 464.3 396.4 408.0 338.8 284.5 266.5 259.5 220.9 197.2 197.7 258.9 235.8 246.3 44.1 77.7 101.1 42.5 42.5 70.9 94.0
Total Assets 1,296 1,532 1,190.4 1,306.3 1,311.9 1,503.5 1,538.4 1,618.4 1,307.1 1,491.0 1,238.1 1,311.3 1,383.4 1,545.4 1,618.5 1,320.6 1,384.0 1,522.4 1,484.8 1,512.4 1,597.8 1,759.6 1,268.4 1,314.0 1,233.1 1,135.5 879.9 958.9 1,007.8 719.6 765.1 806.0 817.4 490.8 435.0 497.5 545.8 540.6 515.2 482.0 524.2
Current Liabilities
Account Payables 42 31 40.6 34.2 47.5 38.8 36.0 59.8 41.0 42.1 33.4 42.1 59.0 43.3 23.5 34.2 23.7 17.1 15.6 21.8 15.7 12.9 10.8 9.0 14.4 12.9 13.5 8.7 12.7 12.3 8.2 10.3 7.6 8.9 9.3 11.9 8.3 5.4 6.6 7.0 6.0
Short-Term Debt 72 81 65.5 0 0 0 10.4 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 7.3 7.0 5.3 0 0 0 0 0 0 0 0 0 0 0 0
Deferred Revenue 0 0 0 0 0 0 0 0 0 0 0 0 0 1.5 3.0 4.4 5.9 7.6 0 3.9 19.2 59.2 102.9 131.6 107.2 0 (7.3) (7.0) 0.1 0 0 1.2 0 6.0 0 0 0 0 0 0 0
Other Current Liabilities 211 183 1.2 114.4 100.4 87.5 155.7 74.9 42.7 46.3 29.9 23.7 3.5 0 0 0 0 0 0 0 0 0 0 0 0 0 27.6 23.3 23.1 0 0 0 33.2 0 0.7 35.4 32.9 37.7 11.7 0.3 0.3
Total Current Liabilities 325 384 340.0 293.2 291.7 344.2 285.0 272.9 245.6 280.4 254.0 244.4 218.2 261.2 227.4 220.6 167.2 181.4 135.9 127.1 127.0 189.6 201.2 219.7 196.9 103.3 90.3 75.0 66.9 74.7 66.7 66.0 57.6 71.0 64.3 62.7 51.8 60.3 50.4 32.0 29.9
Non-Current Liabilities
Long-Term Debt 1,128 1,171 785.4 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
Deferred Tax Liabilities 30 30 30.1 30.1 30.1 30.1 30.1 30.1 30.1 30.1 31.7 31.7 31.7 31.7 33.3 33.3 33.3 33.3 33.3 33.3 33.3 33.3 33.3 33.3 33.3 33.3 31.2 31.2 31.2 31.2 31.2 31.2 31.2 31.2 0 0 0 0 0 0 0
Other Non-Current Liabilities 42 (4) (2.9) 800.1 811.2 836.9 845.8 857.4 863.2 874.5 886.2 891.4 895.7 880.3 866.1 362.7 359.0 352.8 348.5 344.0 340.2 335.7 331.0 325.8 320.8 315.4 0 0 0 4.8 4.7 4.8 4.9 5.1 5.2 5.4 5.6 6.4 8.8 6.1 4.5
Total Non-Current Liabilities 1,200 1,221 834.3 854.7 869.0 897.0 899.5 913.2 921.2 935.2 952.4 937.9 944.7 931.7 922.3 421.9 420.4 418.5 415.2 413.2 416.1 415.6 401.0 398.7 427.1 378.4 62.4 64.1 54.1 35.9 35.9 36.0 36.1 36.3 5.2 5.4 5.6 6.4 8.8 6.1 4.5
Total Liabilities 1,525 1,605 1,174.3 1,148.0 1,160.7 1,241.2 1,184.5 1,186.0 1,166.8 1,215.6 1,206.4 1,182.3 1,162.9 1,193.0 1,149.6 642.6 587.6 599.8 551.1 540.3 543.2 605.2 602.2 618.5 624.0 481.7 152.7 139.1 121.0 110.7 102.5 102.1 93.7 107.3 69.5 68.1 57.3 66.7 59.3 38.1 34.4
Stockholders' Equity
Common Stock 0 0 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Retained Earnings (4,717) (4,532) (4,403.3) (4,222.9) (4,107.9) (3,956.8) (3,823.5) (3,689.9) (3,558.3) (3,387.7) (3,264.5) (3,104.8) (2,945.0) (2,781.0) (2,629.2) (2,384.1) (2,225.9) (2,073.6) (1,951.1) (1,878.1) (1,755.7) (1,619.6) (1,595.6) (1,526.7) (1,552.0) (1,433.0) (1,339.2) (1,226.2) (1,127.0) (1,030.3) (942.5) (855.1) (802.4) (832.7) (750.9) (671.7) (598.8) (530.5) (459.2) (394.3) (337.4)
Accumulated Other Comprehensive Income 10 9 8.8 (0.3) (0.3) (0.6) 0.9 (1.1) (0.4) 0.6 (2.2) (3.1) (4.0) (6.6) (10.2) (8.9) (6.6) (1.4) 0.1 0.2 0.1 0.7 1.0 1.3 (1.5) (0.1) (0.1) 0.3 (0.1) (0.6) (0.4) (0.7) (0.9) (5.7) (7.4) (4.2) 0.2 0.9 0.0 0.3 0.1
Total Stockholders' Equity (236) (80) 9.2 151.3 144.2 255.3 346.8 432.4 140.3 275.4 31.7 129.0 220.5 352.5 468.8 678.1 796.4 922.6 933.7 972.2 1,054.6 1,154.4 666.2 695.6 609.1 653.8 727.3 819.8 886.7 608.9 662.6 704.0 723.7 383.5 365.6 429.5 488.5 474.0 455.9 443.9 489.8
Total Liabilities & Equity 1,296 1,532 1,190.4 1,306.3 1,311.9 1,503.5 1,538.4 1,618.4 1,307.1 1,491.0 1,238.1 1,311.3 1,383.4 1,545.4 1,618.5 1,320.6 1,384.0 1,522.4 1,484.8 1,512.4 1,597.8 1,759.6 1,268.4 1,314.0 1,233.1 1,135.5 879.9 958.9 1,007.8 719.6 765.1 806.0 817.4 490.8 435.0 497.5 545.8 540.6 515.2 482.0 524.2
Debt Metrics
Total Debt 1,200 1,276 884.8 36.3 38.3 40.3 34.1 37.5 40.8 43.2 46.6 25.7 28.6 31.6 34.7 37.5 39.4 42.0 44.0 46.2 46.1 48.2 44.5 43.6 42.4 37.0 38.5 40.0 28.2 0 0 0 0 0 0 0 0 0 0 0 0
Net Debt 1,025 842 672.5 (129.8) (88.8) (133.4) (116.5) (443.2) (71.5) (170.4) (26.0) (76.3) (57.2) (101.4) (357.0) (122.3) (114.6) (265.6) (153.5) (244.7) (337.7) (665.3) (153.0) (292.1) (255.7) (396.6) (84.1) (91.4) (241.5) (113.4) (83.0) (110.9) (226.7) (100.5) (60.4) (90.8) (159.5) (161.1) (142.3) (55.1) (70.8)
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 (185) (128.6) (180.4) (115.0) (151.1) (133.4) (133.5) (131.6) (170.7) (123.2) (159.6) (159.8) (164.0) (151.8) (245.1) (158.2) (152.3) (122.5) (73.0) (122.4) (136.1) (24.0) (68.8) 25.3 (119.0) (93.8) (113.0) (99.2) (96.8) (87.8) (87.3) (52.7) 30.3 (81.7) (79.2) (72.9) (68.3) (71.3) (64.9) (56.9) (52.8)
Depreciation & Amortization 8 8.8 8.6 (11.8) 9.0 9.1 8.8 8.9 8.8 8.2 7.2 5.4 5.2 5.0 4.7 4.5 4.1 3.5 3.2 3.1 3.4 3.1 3.1 3.2 2.9 2.2 2.1 2.1 2.1 2.9 4.4 6.1 6.2 2.5 1.1 1.1 1.2 1.2 1.0 0.7 0.5
Stock-Based Compensation 30 37.3 37.0 38.5 39.9 40.2 41.6 39.4 36.9 33.7 34.9 34.7 32.0 29.4 35.8 35.9 29.4 26.8 26.8 27.1 24.3 22.8 20.3 22.4 20.2 19.7 19.9 22.2 20.2 21.1 20.7 19.6 18.8 19.5 17.2 16.8 14.5 13.5 13.7 10.9 10.2
Change in Working Capital (51) 0.6 54.9 (21.8) (56.6) 22.8 30.8 16.4 (56.0) 13.3 2.8 7.2 (38.4) 21.8 22.2 27.9 (11.7) 20.7 3.1 (9.8) (77.3) 8.6 (33.8) 127.0 2.9 1.4 5.9 (2.1) (21.1) 9.3 (6.0) (8.9) (19.2) (23.8) 2.4 9.7 (8.5) 7.0 19.7 4.3 (4.7)
Other Non-Cash Items 1 (17.9) (11.5) 1.7 (7.7) (18.1) (14.6) (10.0) (9.8) (16.0) (1.8) (3.5) 8.3 5.3 87.1 12.7 13.0 (1.1) (19.8) 36.6 26.4 5.8 5.2 5.0 5.5 (3.6) 0.4 (12.1) (0.2) (0.0) (0.9) (40.1) (125.5) 17.9 (3.4) (3.5) (0.1) 1.9 1.7 1.4 1.8
Operating Cash Flow (197) (99.8) (91.4) (108.3) (166.5) (79.5) (67.0) (77.0) (190.7) (83.9) (117.9) (116.2) (156.9) (90.3) (95.3) (77.3) (117.5) (54.3) (59.6) (65.4) (159.3) (62.5) (62.0) 87.4 (95.2) (72.0) (88.5) (89.1) (95.8) (55.9) (69.2) (76.1) (89.5) (81.8) (62.0) (48.8) (61.2) (47.7) (28.7) (39.7) (44.9)
Investing Activities
Capital Expenditure (1) (0.9) (1.3) 12.5 (16.3) (0.7) (1.6) (4.5) (13.2) (1.6) (3.7) (16.4) (25.0) (27.0) (26.0) (30.9) (62.2) (16.0) (20.6) (20.1) (16.4) (19.7) (6.1) (4.1) (14.1) (11.5) (5.0) (5.2) (3.1) (1.2) (1.0) (1.4) (0.5) (0.9) (1.0) (0.4) (0.5) (0.7) (3.0) (5.0) (1.5)
Acquisitions 0 0 0 0 0 0 0 0 0 0 0 0 0 0.4 0 0 0 79.8 0 0 0 2.3 2.3 0 0 0 0 0 0 0 0 0 0 (142.8) 0 0 0 0 0 0 0
Purchases of Investments (131) (153.6) 0 (15.5) 0 (15.9) (367.4) (3.4) (21.9) (221.6) (139.5) (103.3) (62.0) (198.6) (210.9) (1.6) (206.2) (94.8) (253.1) (259.1) (405.2) (191.6) (192.8) (180.7) (285.2) (82.6) (149.2) (214.7) (260.7) (9.7) (91.4) (147.9) (260.8) 0.0 (23.3) (119.7) (87.5) (131.0) (88.4) (105.0) (118.1)
Sales/Maturities of Investments 88 82.0 0 89.4 137.0 119.4 93.7 68.5 131.6 116.4 207.9 219.5 202.3 54.2 150.6 111.8 228.4 180.3 233.3 237.9 239.2 312.8 105.0 98.6 204.2 161.3 233.5 161.5 162.6 84.5 108.6 56.8 60.3 201.1 54.1 99.0 77.4 123.3 143.6 134.0 142.9
Other Investing Activities (5) 0.3 118.5 (0.3) (15.8) (0.1) (0.2) (2.5) (12.1) (0.3) (0.4) (2.9) (4.0) (0.6) (75.6) (0.2) 2.6 (80.3) (0.5) 0 0 (6.0) (4.2) 0 0 78.8 84.3 (53.2) (98.1) 74.8 17.2 40.3 130 (0.3) 30.8 0.0 1.2 (7.7) 0.3 29.0 (1.5)
Investing Cash Flow (49) (72.2) 117.2 71.2 119.9 102.7 (275.5) 60.6 94.4 (107.0) 64.3 99.4 111.3 (171.6) (161.9) 79.2 (37.4) 69.1 (40.8) (41.2) (182.4) 97.9 (95.8) (86.1) (95.1) 67.3 79.3 (58.4) (101.2) 73.6 16.2 (52.1) (71.0) 57.1 29.8 (21.1) (9.4) (8.4) 52.5 24.0 21.8
Financing Activities
Net Debt Issuance 0 392 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 (0.1) (0.1) (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 0 0 0 0 0.2 3.2 11.1 384.9 (0.1) 4.2 0.4 33.0 (0.7) 1.9 491.9 5.8 (0.1) 6.8 7.5 12.6 12.6 54.2 19.1 0 0.4 315.4 0.9 3.8 3.9 1.8 9.2 13.2 3.6 0.1 1.3 1.5 1.4 29.2 29.7 0 0.3
Financing Cash Flow 0 394.2 0.0 83.6 0.2 3.2 11.2 384.9 (0.1) 330.6 25.2 33.0 (0.7) 1.9 491.9 5.8 1.6 85.7 7.5 12.6 12.6 489.7 19.1 35.8 55.6 315.4 0.9 9.3 353.6 12.2 25.0 13.2 286.4 64.4 1.3 1.5 69.0 74.9 63.4 (0.0) 0.3
Cash Position
Net Change in Cash (251) 221.7 26.1 49.5 (45.0) 23.9 (330.0) 367.9 (97.0) 140.8 (29.1) 16.1 (46.1) (258.7) 233.6 6.5 (153.4) 100.0 (93.3) (93.5) (329.9) 526.0 (138.2) 37.4 (135.3) 311.0 (8.8) (138.0) 156.5 30.1 (27.9) (115.9) 126.2 40.1 (30.3) (68.8) (1.6) 18.8 87.2 (15.7) (22.8)
Cash at Beginning 434 214.7 188.6 139.2 184.2 160.2 490.3 122.4 219.4 78.6 107.7 91.5 137.6 396.3 162.7 156.2 309.6 209.5 302.9 396.4 726.3 200.3 338.4 301.0 436.2 125.2 134.0 272.0 115.5 85.4 113.3 229.2 103.0 60.4 90.8 159.5 161.1 142.3 55.1 70.8 93.6
Cash at End 183 436 214.7 188.6 139.2 184.2 160.2 490.3 122.4 219.4 78.6 107.7 91.5 137.6 396.3 162.7 156.2 309.6 209.5 302.9 396.4 726.3 200.3 338.4 301.0 436.2 125.2 134.0 272.0 115.5 85.4 113.3 229.2 100.5 60.4 90.8 159.5 161.1 142.3 55.1 70.8
Free Cash Flow (198) (100.8) (92.7) (95.7) (182.8) (80.2) (68.6) (81.5) (203.9) (85.5) (121.6) (132.6) (181.9) (117.3) (121.4) (108.2) (179.7) (70.4) (80.2) (85.4) (175.8) (82.1) (68.0) 83.3 (109.2) (83.5) (93.5) (94.3) (98.8) (57.0) (70.2) (77.5) (90.0) (82.7) (63.0) (49.2) (61.7) (48.3) (31.7) (44.7) (46.4)
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 Q2 2013 Q1 2012 Q4
Income Statement
Revenue 136 207 159.9 166.5 139.3 164.9 139.5 147.0 108.8 127.4 98.1 108.3 100.5 103.3 90.7 89.3 79.9 83.4 81.6 87.0 99.4 91.5 81.5 61.7 36.3 35.6 25.8 24.1 18.2 16.3 11.8 12.8 10.7 2.4 0.2 0 0 0.0 0.1 0.0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Gross Profit 106 178 131.9 143.5 110.6 148.0 118.5 125.7 91.3 115.3 87.1 98.4 88.2 98.0 82.1 81.1 73.8 79.9 77.5 83.8 94.2 86.1 79.1 59.9 39.8 30.5 23.1 23.4 17.7 15.8 11.5 12.7 10.5 2.4 (60.2) (58.4) (51.3) (50.7) (48.6) (43.3) 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Operating Income (169) (114) (170.9) (107.9) (142.9) (122.3) (132.0) (116.4) (165.3) (122.0) (145.1) (148.0) (154.1) (145.6) (225.1) (141.6) (136.6) (102.6) (89.8) (82.8) (106.6) (96.1) (50.3) (63.1) (120.7) (94.5) (118.0) (112.5) (99.2) (90.3) (89.6) (94.9) (96.5) (96.8) (83.7) (78.4) (70.0) (70.5) (65.8) (58.1) (53.6) (56.2) (39.9) (30.1) (21.5) (16.9) (15.8) (13.7) (10.3) (9.5) (7.8) (8.2) (6.7) (4.7)
Net Income (185) (129) (180.4) (115.0) (151.1) (133.4) (133.5) (131.6) (170.7) (123.2) (159.6) (159.8) (164.0) (151.8) (245.1) (158.2) (152.3) (122.5) (73.0) (122.4) (136.1) (24.0) (68.8) 25.3 (119.0) (93.8) (113.0) (99.2) (96.8) (87.8) (87.3) (52.7) 30.3 (81.7) (79.2) (72.9) (68.3) (71.3) (64.9) (56.9) (52.8) (55.2) (39.2) (29.8) (21.4) (16.7) (15.8) (13.6) (13.6) (11.3) (8.4) (8.6) (6.7) (4.9)
EPS (Diluted) -1.84 -1.29 -1.81 -1.17 -1.57 -1.39 -1.40 -1.52 -2.03 -1.52 -2.23 -2.25 -2.33 -2.16 -3.50 -2.26 -2.19 -1.79 -1.08 -1.81 -2.03 -0.37 -1.13 0.41 -2.05 -1.62 -1.96 -1.72 -1.82 -1.73 -1.74 -1.06 0.62 -1.89 -1.87 -1.72 -1.63 -1.75 -1.64 -1.46 -1.35 -1.42 -1.03 -0.83 -0.63 -0.52 -0.50 -0.45 -0.63 -0.43 -0.37 -0.37 -0.29 -0.21
Balance Sheet
Cash & Equivalents 175 434 212.3 166.1 127.1 173.7 150.6 480.7 112.2 213.6 72.6 102.1 85.8 132.9 391.7 159.9 154.0 307.6 197.5 290.9 383.8 713.5 197.5 335.6 298.2 433.6 122.6 131.3 269.7 113.4 83.0 110.9 226.7 100.5 60.4 90.8 159.5 161.1 142.3 55.1 70.8
Total Assets 1,296 1,532 1,190.4 1,306.3 1,311.9 1,503.5 1,538.4 1,618.4 1,307.1 1,491.0 1,238.1 1,311.3 1,383.4 1,545.4 1,618.5 1,320.6 1,384.0 1,522.4 1,484.8 1,512.4 1,597.8 1,759.6 1,268.4 1,314.0 1,233.1 1,135.5 879.9 958.9 1,007.8 719.6 765.1 806.0 817.4 490.8 435.0 497.5 545.8 540.6 515.2 482.0 524.2
Total Debt 1,200 1,276 884.8 36.3 38.3 40.3 34.1 37.5 40.8 43.2 46.6 25.7 28.6 31.6 34.7 37.5 39.4 42.0 44.0 46.2 46.1 48.2 44.5 43.6 42.4 37.0 38.5 40.0 28.2 0 0 0 0 0 0 0 0 0 0 0 0
Stockholders' Equity (236) (80) 9.2 151.3 144.2 255.3 346.8 432.4 140.3 275.4 31.7 129.0 220.5 352.5 468.8 678.1 796.4 922.6 933.7 972.2 1,054.6 1,154.4 666.2 695.6 609.1 653.8 727.3 819.8 886.7 608.9 662.6 704.0 723.7 383.5 365.6 429.5 488.5 474.0 455.9 443.9 489.8
Cash Flow
Operating Cash Flow (197) (99.8) (91.4) (108.3) (166.5) (79.5) (67.0) (77.0) (190.7) (83.9) (117.9) (116.2) (156.9) (90.3) (95.3) (77.3) (117.5) (54.3) (59.6) (65.4) (159.3) (62.5) (62.0) 87.4 (95.2) (72.0) (88.5) (89.1) (95.8) (55.9) (69.2) (76.1) (89.5) (81.8) (62.0) (48.8) (61.2) (47.7) (28.7) (39.7) (44.9)
Capital Expenditure (1) (0.9) (1.3) 12.5 (16.3) (0.7) (1.6) (4.5) (13.2) (1.6) (3.7) (16.4) (25.0) (27.0) (26.0) (30.9) (62.2) (16.0) (20.6) (20.1) (16.4) (19.7) (6.1) (4.1) (14.1) (11.5) (5.0) (5.2) (3.1) (1.2) (1.0) (1.4) (0.5) (0.9) (1.0) (0.4) (0.5) (0.7) (3.0) (5.0) (1.5)
Free Cash Flow (198) (100.8) (92.7) (95.7) (182.8) (80.2) (68.6) (81.5) (203.9) (85.5) (121.6) (132.6) (181.9) (117.3) (121.4) (108.2) (179.7) (70.4) (80.2) (85.4) (175.8) (82.1) (68.0) 83.3 (109.2) (83.5) (93.5) (94.3) (98.8) (57.0) (70.2) (77.5) (90.0) (82.7) (63.0) (49.2) (61.7) (48.3) (31.7) (44.7) (46.4)