Syndax Pharmaceuticals, Inc. logo SNDX - Syndax Pharmaceuticals, Inc.

Price: -- -- | CONSENSUS: Buy DETAILS
STRONG
BUY
0
BUY 20
HOLD 2
SELL 0
STRONG
SELL
0
| PRICE TARGET: $41.50 DETAILS
HIGH: $46.00
LOW: $37.00
MEDIAN: $41.50
CONSENSUS: $41.50
UPSIDE: 108.54%
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 64.9 68.5 45.9 38.0 20.0 7.7 12.5 3.5 0 0 0 0 0 0 0 0 0 126.6 12.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 1.2 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.0 0 0 1.2 0 0 0 0 0 0 0
Cost of Revenue 2.6 (1.6) 2.1 1.3 0.9 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 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0.6 0.6 0 0 0 0 0 0
Gross Profit 62.2 70.1 43.8 36.7 19.2 7.7 12.5 3.5 0 0 0 0 0 0 0 0 0 126.5 12.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 1.2 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.0 0 0 0.6 (0.6) 0 0 0 0 0 0
Operating Expenses
R&D Expenses 58.8 78.6 56.3 62.2 61.6 65.5 71.0 48.7 56.5 55.1 39.1 34.8 34.1 31.8 26.9 29.7 30.0 23.9 25.6 16.9 21.9 15.5 14.4 10.9 9.6 9.5 9.9 12.3 11.3 15.8 14.1 14.9 15.3 16.6 12.2 9.9 9.6 8.5 12.3 6.1 4.8 2.6 3.0 2.3 1.7 1.5 1.7 4.9 2.1 1.1 0.8 0.7 0.6 0.0
SG&A Expenses 37.6 49.9 44.9 43.8 41.0 37.7 31.1 29.1 23.0 22.8 17.3 14.9 12.0 10.2 8.2 8.0 6.8 6.9 6.8 5.8 5.7 4.7 5.8 6.0 5.9 5.1 3.6 3.5 3.9 3.9 4.1 4.5 4.8 4.1 3.6 4.3 3.9 3.0 3.3 2.8 4.3 2.4 3.2 3.3 2.7 1.8 6.0 1.4 1.8 1.8 1.4 1.4 0.7 0.0
Other Expenses 0 4.0 0 0 0.2 0.8 0 0 0 0 0 0 0 0 0 0 0 0 0 (0.1) (0.1) 0 0 (0.0) (0.0) 0 (0.1) (0.0) 0 0 0.0 0.1 (0.1) 0 (0.1) (0.1) (0.1) 0 0 0 (0.0) 0.0 (0.0) (0.0) (0.0) 0 0 0 0 0 0 0 0 0
Operating Expenses 96.4 132.6 101.2 106.0 102.9 104.0 102.1 77.7 79.5 77.9 56.4 49.7 46.0 42.0 35.1 37.7 36.9 30.8 32.4 22.7 27.5 20.2 20.2 17.0 15.5 14.6 13.5 15.8 15.2 19.7 18.2 19.3 20.1 20.7 15.8 14.1 13.5 11.4 15.5 8.9 9.1 5.0 6.2 5.6 4.4 3.3 7.7 6.3 4.0 2.9 2.3 2.1 1.3 0.0
Operating Income
Operating Income (34.2) (62.5) (57.4) (69.4) (83.8) (96.4) (89.6) (74.2) (79.5) (77.9) (56.4) (49.7) (46.0) (42.0) (35.1) (37.7) (36.9) 95.7 (20.0) (22.3) (27.2) (19.9) (19.9) (16.6) (15.1) (14.2) (13.1) (15.4) (14.8) (19.3) (17.8) (19.0) (19.8) (19.5) (15.4) (13.8) (13.2) (11.1) (15.2) (8.6) (8.8) (4.7) (5.9) (5.5) (4.4) (3.3) (7.7) (6.3) (4.0) (2.9) (2.3) (2.1) (1.3) (0.0)
Interest Expense 11.8 52.7 8.3 7.9 8.1 4.8 0.0 0.0 0.1 0.1 0.1 0.0 0.0 0.0 1.7 0.7 0.7 0 0.6 0.6 0.6 0.6 0.6 0.6 0.4 0 0 0 0 1.9 0 0 0 0 0 0 0 1.0 0.3 0.3 0.1 0.5 0.2 0.3 0.3 0.3 0.0 0 0 0.0 0.1 0.1 0.5 0
Interest Income 3.6 9.6 5.3 6.0 7.2 7.1 5.4 6.3 7.3 5.5 5.3 5.2 5.1 3.0 1.8 0.9 0.2 0.1 0.1 0.1 0.1 0.1 0.2 0.2 0.3 0.2 0.4 0.5 0.5 0 0.5 0.5 0.5 0.5 0.4 0.3 0.3 0 0 0 0 0 0 0 0 0 0 0.0 0.0 0 0 0 0 0.0
Profitability
EBITDA (30.8) (15.3) (52.4) (64.0) (83.8) (89.4) (84.1) (68.0) (72.3) (72.4) (51.1) (44.6) (41.1) (39.1) (33.6) (36.9) (36.5) 96.3 (20.0) (22.3) (27.1) (19.9) (19.8) (16.4) (14.8) (13.8) (12.8) (14.9) (14.5) (19.0) (17.8) (19.0) (19.8) (19.7) (15.3) (13.8) (13.2) (11.0) (15.2) (8.6) (8.7) (6.7) (5.7) (5.0) (4.3) (3.3) (7.7) (6.3) (4.0) (2.9) (2.3) (2.1) (1.3) (0.0)
EBIT (30.8) (15.3) (52.4) (64.0) (92.9) (89.4) (84.1) (68.0) (72.3) (72.4) (51.1) (44.6) (41.1) (39.2) (33.7) (36.9) (36.5) 96.2 (20.0) (22.3) (27.1) (19.8) (19.8) (16.4) (14.8) (14.2) (12.8) (14.9) (14.3) (19.3) (17.8) (19.0) (19.8) (19.5) (15.4) (13.8) (13.2) (11.1) (15.2) (8.6) (8.8) (6.7) (5.9) (5.5) (4.4) (3.3) (7.7) (6.3) (4.0) (2.9) (2.3) (2.1) (1.3) (0.0)
Income Before Tax (42.7) (68.0) (60.7) (71.8) (84.8) (94.2) (84.1) (68.1) (72.4) (72.5) (51.1) (44.6) (41.1) (39.2) (35.4) (37.6) (37.2) 96.2 (20.6) (22.9) (27.7) (20.4) (20.4) (17.1) (15.2) (14) (12.8) (14.9) (14.3) (18.8) (17.3) (18.4) (19.4) (19.1) (15.1) (13.6) (13.0) (10.8) (15.0) (8.4) (10.3) (5.3) (7.7) (6.2) (4.9) (3.5) (7.8) (4.5) (4.0) (4.3) (4.9) (3.8) (1.1) (0.0)
Income Tax 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 0.2 0 0 0 (0.1) 0.1 (0.0) 0 0 0 0 0 0 0.0 (1.8) 0.0 0 0 1.1 0 0
Net Income (42.7) (68.0) (60.7) (71.8) (84.8) (94.2) (84.1) (68.1) (72.4) (72.5) (51.1) (44.6) (41.1) (39.2) (35.4) (37.6) (37.2) 96.2 (20.6) (22.9) (27.7) (20.4) (20.4) (17.1) (15.2) (14) (12.8) (14.9) (14.3) (18.8) (17.3) (18.4) (19.4) (19.1) (15.1) (13.6) (13.0) (10.8) (15.0) (8.4) (10.3) (5.3) (7.7) (6.2) (4.9) (3.5) (7.8) (4.5) (4.0) (4.3) (4.9) (3.8) (1.1) (0.0)
Per Share Data
EPS (Basic) -0.49 -0.78 -0.70 -0.83 -0.99 -1.10 -0.98 -0.80 -0.85 -1.00 -0.73 -0.64 -0.59 -0.62 -0.58 -0.62 -0.63 1.81 -0.40 -0.44 -0.54 -0.44 -0.46 -0.42 -0.44 -0.44 -0.41 -0.47 -0.53 -0.70 -0.68 -0.74 -0.79 -0.80 -0.68 -0.70 -0.71 -0.59 -0.84 -0.47 -2.27 -0.79 -1.16 -0.94 -0.74 -0.53 -1.17 -0.09 -0.04 -0.04 -0.05 -0.04 -0.01 -0.00
EPS (Diluted) -0.49 -0.78 -0.70 -0.83 -0.99 -1.10 -0.98 -0.80 -0.85 -1.00 -0.73 -0.64 -0.59 -0.62 -0.58 -0.62 -0.63 1.81 -0.40 -0.44 -0.54 -0.44 -0.46 -0.42 -0.44 -0.44 -0.41 -0.47 -0.53 -0.70 -0.68 -0.74 -0.79 -0.80 -0.68 -0.70 -0.71 -0.59 -0.84 -0.47 -2.27 -0.79 -1.16 -0.94 -0.74 -0.53 -1.17 -0.09 -0.04 -0.04 -0.05 -0.04 -0.01 -0.00
Shares Outstanding 86.6 86.6 86.6 86.3 85.6 85.8 85.4 85.3 85.2 72.5 69.9 69.6 69.4 63.2 60.7 60.2 59.0 51.8 52.0 51.6 51.5 46.1 44.2 40.6 34.3 31.6 31.6 31.6 27.0 26.8 25.5 24.7 24.5 23.9 22.2 19.5 18.2 18.2 17.9 17.8 4.5 6.6 6.6 6.6 6.6 6.6 6.6 51.8 96.9 96.9 96.9 96.9 96.9 40
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 130.9 134.9 116.8 108.6 154.0 154.1 133.0 105.4 114.6 295.4 94.5 97.3 57.5 74.4 71.4 120.2 188.8 222.0 71.4 68.0 64.4 115.2 56.4 53.6 44.6 24.6 30.6 26.7 58.1 33.8 26.7 32.2 28.0 35.2 20.7 23.0 22.4 23.8 12.8 14.4 23.2
Short-Term Investments 221.2 259.1 337.4 360.1 362.3 428.8 256.6 319.7 320.0 282.2 269.0 308.7 374.9 410.0 279.3 256.4 222.1 224.9 158.3 185.1 206.9 177.8 113.8 133.1 54.4 35.2 41.7 53.9 34.6 47.1 62.9 66.2 85.2 94.8 99.9 107.0 70.4 81.5 102.8 111.0 110.5
Net Receivables 38.1 38.0 25.4 37.4 21.5 13.9 4.7 10.9 7.6 1.2 4.2 0.5 2.1 4.1 4.9 13.5 0.2 0.4 0.2 0.4 0.3 0.2 0.2 0.2 0.2 0.1 0.2 0.2 0.2 0.3 0.3 0.3 0.3 0.4 0.6 0.4 0.2 0.3 0.2 0.3 0.3
Inventory 34.9 32.8 27.5 17.7 4.7 0.4 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1.5 4.0 3.6 1.1 4.5 4.1 3.5 (1.4) 1.7 3.1 3.5 2.4 1.2 1.5 1.6
Other Current Assets 46.0 63.3 18.6 1.5 0.5 0.6 17.0 7.2 8.7 0.1 10.5 0.3 6.0 0.1 0.3 0.3 6.8 0.3 0.4 0.3 0.1 0.5 0.4 0.5 0.8 0.8 1.0 1.1 1.2 1.8 1.6 2.0 2.3 1.3 1.2 0.8 0.7 0.6 0.4 0.2 0.2
Total Current Assets 471.2 528.1 529.8 531.7 548.8 603.1 414.8 446.1 453.9 580.9 381.0 409.1 441.5 489.8 357.6 392.3 420.1 448.4 238.3 262.6 278.9 298.9 177.4 191.8 104.2 62.3 74.8 85.8 97.6 83.3 95.8 104.7 119.3 133.4 124.0 134.2 97.1 108.5 117.3 127.4 135.8
Non-Current Assets
Property, Plant & Equipment 1.4 1.5 1.6 1.6 1.8 2.0 0.8 1.0 1.2 1.5 1.7 2.0 0.9 1.1 1.2 1.0 1.1 1.3 1.3 0.5 0.6 0.5 0.6 0.7 0.9 1.0 1.1 1.4 1.6 0.4 0.4 0.4 0.4 0.3 0.3 0.3 0.2 0.3 0.3 0.3 0.3
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 0.1 0.1 20.1 62.6 89.9 119.5 10.0 29.7 87.6 29.8 15.9 19.5 16.7 5.5 0 12.1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 3.2 0 0 0 0 0 0 0
Other Non-Current Assets 0 0 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.7 0.6 0.8 0.7 0.9 0.9 1.0 1.0 0 0 0 0.1 1.3 1.3 0.1 0.1 0.2 0.4 0.2 0.2 0.2 0.2 0.3 0.2 0.2 0.2 0.2 0.4 0.2 0.2 0.2 0.2
Total Non-Current Assets 1.5 1.6 22.0 64.5 92.0 121.8 11.0 30.9 89.1 32.0 18.2 22.3 18.3 7.5 2.1 14.2 2.2 1.3 1.3 0.5 0.7 1.7 1.9 0.8 0.9 1.2 1.5 1.6 1.8 0.6 0.6 0.7 0.7 3.7 0.5 0.5 0.6 0.5 0.5 0.5 0.5
Total Assets 472.7 529.7 551.8 596.1 640.7 724.8 425.8 476.9 543.0 612.9 399.2 431.3 459.8 497.2 359.7 406.4 422.2 449.7 239.5 263.1 279.7 300.6 179.3 192.6 105.2 63.5 76.4 87.4 99.4 83.9 96.5 105.4 120.0 137.2 124.5 134.7 97.7 109.0 117.7 127.9 136.3
Current Liabilities
Account Payables 10.8 16.6 13.8 17.4 10.0 11.6 4.9 11.6 8.8 17.2 6.0 11.0 8.1 4.3 7.1 6.4 8.2 5.7 5.1 3.6 6.5 3.5 3.8 1.8 9.0 6.2 6.8 2.3 4.3 1.4 3.2 5.3 2.6 2.2 2.2 3.4 2.7 2.4 2.0 1.6 2.2
Short-Term Debt 0 0.5 22.9 0 0 12.1 0 1.0 1.1 0 1.0 0 0.5 0 0 7.2 3.6 0 9.5 7.0 4.6 2.3 0 0 0 0 0 0 0 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 0 0 0 0 0 0 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.5 1.6 1.2 1.2 1.2 1.2 1.2 1.2 1.2
Other Current Liabilities 74.8 103.1 0.6 39.8 26.1 15.7 42.0 22.1 36.4 12.1 24.2 6.2 12.2 6.5 7.2 5.9 3.8 6.2 3.7 2.8 1.8 3.7 3.2 2.7 1.8 3.1 7.3 11.4 8.1 10.3 10.0 10.7 11.7 9.6 8.9 0 0 5.1 1.3 1.0 0.7
Total Current Liabilities 86.2 120.1 114.2 113.0 94.6 103.5 59.4 42.5 50.8 58.1 39.2 30.2 23.7 29.1 20.8 30.9 30.6 20.7 28.7 24.3 24.6 18.9 15.2 12.5 18.8 18.4 18.3 17.5 15.7 16.1 17.0 19.3 16.9 15.8 14.2 11.5 11.0 10.4 9.1 6.6 7.0
Non-Current Liabilities
Long-Term Debt 344.0 345.0 321.0 0 0 331.6 0 0 0 0 0 0 0 0 0 13.0 16.5 19.9 11.0 13.3 15.6 17.8 20.0 19.9 19.8 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 0 0 0
Other Non-Current Liabilities 0 (1.1) 0 324.4 329.6 0 0 0 0 0 0 0 0 0 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 0.3 0.3 0.3 0.3 0.2 0.1 0.3 0.2 0.2 0.2
Total Non-Current Liabilities 344.9 345.0 322.2 325.7 331.1 333.1 0.0 0.1 0.3 0.6 0.9 1.1 0.6 0.7 0.8 13.6 17.1 20.6 11.8 24.2 26.9 29.6 32.2 32.5 32.9 13.6 14.0 14.6 15.1 14.8 15.2 15.7 16.1 17.1 13.6 13.8 14.1 14.5 14.7 15.1 15.4
Total Liabilities 431.0 465.1 436.4 438.7 425.6 436.7 59.4 42.6 51.1 58.7 40.0 31.3 24.3 29.8 21.6 44.5 47.7 41.3 40.5 48.5 51.5 48.4 47.3 45.0 51.6 31.9 32.3 32.1 30.8 30.9 32.2 35.0 33.0 32.9 27.8 25.3 25.1 24.9 23.9 21.6 22.4
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 (1,549.3) (1,506.6) (1,438.6) (1,377.9) (1,306.0) (1,221.2) (1,127.0) (1,042.9) (974.8) (902.4) (829.9) (778.8) (734.2) (693.0) (653.8) (618.4) (580.9) (543.7) (639.9) (619.3) (596.4) (568.6) (548.2) (527.8) (510.7) (495.5) (481.5) (468.6) (453.7) (439.4) (420.6) (403.2) (384.9) (366.1) (347.0) (331.9) (318.3) (305.3) (294.5) (279.5) (271.2)
Accumulated Other Comprehensive Income 0.0 0.5 0.5 0.3 0.5 0.2 0.4 (0.8) (0.8) 0.2 (0.5) (0.6) (0.3) (0.8) (1.6) (1.3) (0.6) 0.0 0.0 0.0 0.0 (0.0) 0.1 0.1 0.0 0 0.0 0.1 0.0 (0.0) (0.0) (0.1) (0.2) (0.1) 0.0 0.0 (0.0) 0.1 0.1 0.2 0.2
Total Stockholders' Equity 41.6 64.6 115.4 157.4 215.1 288.1 366.4 434.3 491.9 554.2 359.2 400.0 435.5 467.4 338.1 361.9 374.5 408.4 199.0 214.6 228.2 252.2 132.0 147.6 53.5 31.6 44.0 55.3 68.6 53.0 64.3 70.4 87.0 104.3 96.7 109.3 72.6 84.1 93.8 106.2 113.8
Total Liabilities & Equity 472.7 529.7 551.8 596.1 640.7 724.8 425.8 476.9 543.0 612.9 399.2 431.3 459.8 497.2 359.7 406.4 422.2 449.7 239.5 263.1 279.7 300.6 179.3 192.6 105.2 63.5 76.4 87.4 99.4 83.9 96.5 105.4 120.0 137.2 124.5 134.7 97.7 109.0 117.7 127.9 136.3
Debt Metrics
Total Debt 345.4 346.5 345.4 1.7 1.8 345.7 0.9 1.1 1.4 1.6 1.9 2.1 1.1 1.2 1.3 21.1 21.0 21.0 21.6 20.8 20.8 20.5 20.6 20.6 20.6 0.9 1.0 1.3 1.4 0 0 0 0 0 0 0 0 0 0 0 0
Net Debt 214.5 211.6 228.6 (107.0) (152.2) 191.7 (132.2) (104.3) (113.2) (293.8) (92.7) (95.2) (56.5) (73.2) (70.1) (99.2) (167.8) (201.0) (49.8) (47.3) (43.6) (94.7) (35.8) (33.0) (24.1) (23.7) (29.6) (25.4) (56.8) (33.8) (26.7) (32.2) (28.0) (35.2) (20.7) (23.0) (22.4) (23.8) (12.8) (14.4) (23.2)
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 (42.7) (68.0) (60.7) (71.8) (84.8) (94.2) (84.1) (68.1) (72.4) (72.5) (51.1) (44.6) (41.1) (39.2) (35.4) (37.6) (37.2) 96.2 (20.6) (22.9) (27.7) (20.4) (20.4) (17.1) (15.2) (14) (12.8) (14.9) (14.3) (18.8) (17.3) (18.4) (19.4) (19.1) (15.1) (13.6) (13.0) (10.8) (15.0) (8.4) (10.3)
Depreciation & Amortization 0.0 0.0 (0.2) 0.1 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 0.0 0.4 (0.2) (0.2) 0.2 (0.2) 0.1 0.1 0.1 (0.2) 0.2 0.1 0.0 0.1 (0.0) 0.0 0.1
Stock-Based Compensation 12.1 11.3 12.1 13.8 10.4 12.3 11.9 9.9 8.9 8.3 8.3 8.1 6.2 4.2 4.4 3.9 3.5 3.9 3.4 3.2 2.8 2.0 3.1 2.1 1.8 1.5 1.6 1.3 1.6 1.5 1.7 1.6 1.4 1.3 1.3 1.4 1.4 0.9 0.8 0.8 2.2
Change in Working Capital (19.1) (11.8) (23.4) (26.8) (17.4) 27.2 12.6 (10.1) (16.5) 26.0 1.6 4.7 (0.5) 14.0 2.6 (6.7) (8.3) 1.3 (8.1) (4.8) 2.0 2.5 (1.2) (6.6) (2.6) (0.3) 2.7 1.3 (3.9) 2.5 (2.7) 1.7 (1.8) 5.0 3.4 0.3 (1.1) (0.5) 2.8 0.7 (0.0)
Other Non-Cash Items (0.7) (1.0) 1.6 (3.0) (3.3) (2.7) (2.8) (3.4) (3.6) (3.2) (3.4) (3.6) (3.9) (1.9) (0.1) (0.0) 0.0 (0.7) 0.4 0.4 0.3 0.3 0.2 0.2 0.2 0.4 0.1 (0.2) (0.4) 0.0 0.0 (0.0) 0.0 0.2 (0.0) 0.0 0.0 (1.7) (0.0) 0.0 1.7
Operating Cash Flow (50.3) (69.5) (70.5) (87.8) (95.2) (57.4) (62.3) (71.6) (83.5) (41.3) (44.7) (35.4) (39.2) (22.9) (28.5) (40.3) (41.9) 100.7 (24.9) (24.0) (22.6) (15.6) (18.3) (21.4) (15.9) (12.7) (8.5) (12.5) (16.8) (15.0) (18.5) (15.1) (19.9) (12.7) (10.2) (11.8) (12.7) (10.4) (11.4) (6.9) (6.4)
Investing Activities
Capital Expenditure 0 (0.1) (0.1) 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 (0.2) (0.0) (0.0) 0 0 0 (0.1) (0.1) (0.1)
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 (39.4) (63.1) (30.4) (91.7) (10.5) (376.3) (13.4) 0 (167.4) (129.3) (82.7) (81.0) (61.6) (250.9) (79.8) (122.4) (42.3) (105.2) (62.9) (59.8) (66.7) (128.6) (19.2) (96.2) (34.9) (35.1) (9.0) (39.3) (20.6) (18.7) (26.0) (22.5) (11.7) (39.3) (25.0) (73.9) (14.1) (26.6) (21.8) (31.1) (78.9)
Sales/Maturities of Investments 77.8 144.8 103 133.6 104.7 107.3 100.2 61.8 68.0 113 122.8 154.9 81.5 113.2 72.8 72.4 50.4 45.4 89.6 81.5 37.5 64.4 38.5 17.6 15.9 41.7 21.4 20.3 33.4 34.7 29.5 41.8 24.5 40.8 32.0 37.4 25.1 47.9 30.0 30.5 31.9
Other Investing Activities 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0.2 0 0 (0.1) 0 0 0 0 0 0 0 6.6 12.4 (18.9) 12.8 16.0 3.5 19.3 12.8 (0.0) 0.0 0.0 0.0 0.0 (0.1) (0.0) 0.0
Investing Cash Flow 38.4 81.6 72.4 41.9 94.1 (269.0) 86.8 61.8 (99.4) (16.3) 40.1 73.9 19.9 (137.6) (6.8) (49.9) 8.2 (60.0) 26.6 21.7 (29.2) (64.1) 19.3 (78.6) (19.1) 6.6 12.4 (18.9) 12.8 16.0 3.5 19.3 12.6 1.5 6.9 (36.6) 11.1 21.3 8.1 (0.6) (47.1)
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 0 0 19.7 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 (1.2) 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 (2.6)
Other Financing Activities 0 0 0 0 0.9 347.4 3.1 0.7 2.2 0.4 1.9 1.3 2.5 1.1 (13.5) 21.7 0.6 28.6 1.7 0.9 1.0 3.7 0 1.1 0.4 0.1 0.1 0.0 0.0 0.1 0.0 0.1 0.0 0.1 0.0 0.2 0.1 0.2 1.7 (0.0) 2.6
Financing Cash Flow 7.9 5.9 6.3 0.6 0.9 347.4 3.1 0.7 2.2 258.5 1.9 1.3 2.5 163.5 (13.5) 21.7 0.6 109.8 1.7 6.0 1.0 138.7 1.8 109.0 55.0 0.1 0.1 0.0 28.4 6.1 9.5 0.1 0.0 25.6 1.0 49.0 0.1 0.2 1.7 (1.2) 53.5
Cash Position
Net Change in Cash (4.0) 18.0 8.2 (45.4) (0.1) 21.1 27.6 (9.2) (180.8) 200.8 (2.7) 39.9 (16.8) 3.0 (48.9) (68.5) (33.2) 150.5 3.4 3.7 (50.9) 58.9 2.7 9.0 20.0 (6.1) 3.9 (31.4) 24.3 7.1 (5.5) 4.2 (7.2) 14.4 (2.3) 0.6 (1.5) 11.1 (1.7) (8.7) 0.0
Cash at Beginning 135.0 117.0 108.9 154.2 154.3 133.2 105.6 114.8 295.6 94.8 97.5 57.6 74.5 71.5 120.4 188.9 222.1 71.5 68.2 64.5 115.4 56.5 53.7 44.7 24.7 30.8 26.9 58.3 34.0 26.9 32.4 28.2 35.4 20.7 23.0 22.4 23.8 12.8 14.4 23.2 23.2
Cash at End 131.0 135.0 117.0 108.9 154.2 154.3 133.2 105.6 114.8 295.6 94.8 97.5 57.6 74.5 71.5 120.4 188.9 222.1 71.5 68.2 64.5 115.4 56.5 53.7 44.7 24.7 30.8 26.9 58.3 34.0 26.9 32.4 28.2 35.2 20.7 23.0 22.4 23.8 12.8 14.4 23.2
Free Cash Flow (50.3) (69.5) (70.7) (87.8) (95.2) (57.4) (62.3) (71.6) (83.5) (41.3) (44.7) (35.4) (39.2) (22.9) (28.5) (40.3) (41.9) 100.6 (24.9) (24.0) (22.6) (15.6) (18.3) (21.4) (15.9) (12.7) (8.5) (12.5) (16.8) (15.1) (18.5) (15.1) (20.0) (12.8) (10.2) (11.8) (12.7) (10.4) (11.5) (7.0) (6.5)
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 2014 Q4 2014 Q3 2014 Q2 2014 Q1 2013 Q4 2013 Q3 2013 Q2 2013 Q1 2012 Q4
Income Statement
Revenue 64.9 68.5 45.9 38.0 20.0 7.7 12.5 3.5 0 0 0 0 0 0 0 0 0 126.6 12.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 1.2 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.0 0 0 1.2 0 0 0 0 0 0 0
Gross Profit 62.2 70.1 43.8 36.7 19.2 7.7 12.5 3.5 0 0 0 0 0 0 0 0 0 126.5 12.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 1.2 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.0 0 0 0.6 (0.6) 0 0 0 0 0 0
Operating Income (34.2) (62.5) (57.4) (69.4) (83.8) (96.4) (89.6) (74.2) (79.5) (77.9) (56.4) (49.7) (46.0) (42.0) (35.1) (37.7) (36.9) 95.7 (20.0) (22.3) (27.2) (19.9) (19.9) (16.6) (15.1) (14.2) (13.1) (15.4) (14.8) (19.3) (17.8) (19.0) (19.8) (19.5) (15.4) (13.8) (13.2) (11.1) (15.2) (8.6) (8.8) (4.7) (5.9) (5.5) (4.4) (3.3) (7.7) (6.3) (4.0) (2.9) (2.3) (2.1) (1.3) (0.0)
Net Income (42.7) (68.0) (60.7) (71.8) (84.8) (94.2) (84.1) (68.1) (72.4) (72.5) (51.1) (44.6) (41.1) (39.2) (35.4) (37.6) (37.2) 96.2 (20.6) (22.9) (27.7) (20.4) (20.4) (17.1) (15.2) (14) (12.8) (14.9) (14.3) (18.8) (17.3) (18.4) (19.4) (19.1) (15.1) (13.6) (13.0) (10.8) (15.0) (8.4) (10.3) (5.3) (7.7) (6.2) (4.9) (3.5) (7.8) (4.5) (4.0) (4.3) (4.9) (3.8) (1.1) (0.0)
EPS (Diluted) -0.49 -0.78 -0.70 -0.83 -0.99 -1.10 -0.98 -0.80 -0.85 -1.00 -0.73 -0.64 -0.59 -0.62 -0.58 -0.62 -0.63 1.81 -0.40 -0.44 -0.54 -0.44 -0.46 -0.42 -0.44 -0.44 -0.41 -0.47 -0.53 -0.70 -0.68 -0.74 -0.79 -0.80 -0.68 -0.70 -0.71 -0.59 -0.84 -0.47 -2.27 -0.79 -1.16 -0.94 -0.74 -0.53 -1.17 -0.09 -0.04 -0.04 -0.05 -0.04 -0.01 -0.00
Balance Sheet
Cash & Equivalents 130.9 134.9 116.8 108.6 154.0 154.1 133.0 105.4 114.6 295.4 94.5 97.3 57.5 74.4 71.4 120.2 188.8 222.0 71.4 68.0 64.4 115.2 56.4 53.6 44.6 24.6 30.6 26.7 58.1 33.8 26.7 32.2 28.0 35.2 20.7 23.0 22.4 23.8 12.8 14.4 23.2
Total Assets 472.7 529.7 551.8 596.1 640.7 724.8 425.8 476.9 543.0 612.9 399.2 431.3 459.8 497.2 359.7 406.4 422.2 449.7 239.5 263.1 279.7 300.6 179.3 192.6 105.2 63.5 76.4 87.4 99.4 83.9 96.5 105.4 120.0 137.2 124.5 134.7 97.7 109.0 117.7 127.9 136.3
Total Debt 345.4 346.5 345.4 1.7 1.8 345.7 0.9 1.1 1.4 1.6 1.9 2.1 1.1 1.2 1.3 21.1 21.0 21.0 21.6 20.8 20.8 20.5 20.6 20.6 20.6 0.9 1.0 1.3 1.4 0 0 0 0 0 0 0 0 0 0 0 0
Stockholders' Equity 41.6 64.6 115.4 157.4 215.1 288.1 366.4 434.3 491.9 554.2 359.2 400.0 435.5 467.4 338.1 361.9 374.5 408.4 199.0 214.6 228.2 252.2 132.0 147.6 53.5 31.6 44.0 55.3 68.6 53.0 64.3 70.4 87.0 104.3 96.7 109.3 72.6 84.1 93.8 106.2 113.8
Cash Flow
Operating Cash Flow (50.3) (69.5) (70.5) (87.8) (95.2) (57.4) (62.3) (71.6) (83.5) (41.3) (44.7) (35.4) (39.2) (22.9) (28.5) (40.3) (41.9) 100.7 (24.9) (24.0) (22.6) (15.6) (18.3) (21.4) (15.9) (12.7) (8.5) (12.5) (16.8) (15.0) (18.5) (15.1) (19.9) (12.7) (10.2) (11.8) (12.7) (10.4) (11.4) (6.9) (6.4)
Capital Expenditure 0 (0.1) (0.1) 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 (0.2) (0.0) (0.0) 0 0 0 (0.1) (0.1) (0.1)
Free Cash Flow (50.3) (69.5) (70.7) (87.8) (95.2) (57.4) (62.3) (71.6) (83.5) (41.3) (44.7) (35.4) (39.2) (22.9) (28.5) (40.3) (41.9) 100.6 (24.9) (24.0) (22.6) (15.6) (18.3) (21.4) (15.9) (12.7) (8.5) (12.5) (16.8) (15.1) (18.5) (15.1) (20.0) (12.8) (10.2) (11.8) (12.7) (10.4) (11.5) (7.0) (6.5)