Spyre Therapeutics, Inc. logo SYRE - Spyre Therapeutics, Inc.

Price: -- -- | CONSENSUS: Buy DETAILS
STRONG
BUY
0
BUY 11
HOLD 0
SELL 0
STRONG
SELL
0
| PRICE TARGET: $85.45 DETAILS
HIGH: $107.00
LOW: $49.00
MEDIAN: $90.00
CONSENSUS: $85.45
UPSIDE: 15.40%
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 2015 Q4 2015 Q3 2015 Q2 2015 Q1 2014 Q4 2014 Q3 2014 Q2 2014 Q1
Revenue
Revenue 0 90.5 0 0 0 0 0 0 0 0 0 0.7 0.2 0.2 0.2 0.6 1.4 3.6 1.4 13.7 0 0 0 0 0 0 0 0 0 0 0 2.4 1.5 1.5 1.3 1.5 1.0 1.2 1.1 1.4 0.9 1.6 1.1 3.4 0 0 0 0 0
Cost of Revenue 0 45.2 45.2 0 0 0 0 0 0 0 0 0 0.5 0.5 0.5 0.5 0.5 0.5 14.9 13.6 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
Gross Profit 0 45.2 (45.2) 0 0 0 0 0 0 0 0 0.7 (0.3) (0.3) (0.3) 0.1 0.9 3.1 (13.5) 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
Operating Expenses
R&D Expenses 60.4 44.6 45.2 40.1 41.6 50.5 44.7 32.6 34.9 33.7 24.7 17.4 13.8 14.3 12.0 15.4 17.0 16.8 14.9 13.6 11.9 15.8 12.5 16.9 14.6 17.6 17.8 14.8 14.4 11.8 8.9 9.1 6.9 5.8 6.2 5.8 4.9 4.7 5.4 4.4 3.6 4.0 3.1 2.7 1.6 2.6 2.5 1.3 0.5
SG&A Expenses 15.2 12.5 11.6 11.8 11.9 10.8 10.6 11.5 12.8 14.1 8.6 12.1 4.7 4.6 6.5 7.2 8.3 6.8 6.8 6.8 6.4 7.0 5.7 4.7 4.5 4.3 4.3 3.8 3.3 3.5 3.3 2.9 2.9 2.3 3.0 2.4 2.4 2.0 2.1 2.4 1.8 1.6 1.4 2.1 0.8 0.6 0.7 0.5 0.3
Other Expenses 0 45.2 (45.2) (10) 0 0 0 0 0 (1.8) (14.9) 130.5 0 0 0 0 0 0 (14.9) (13.6) 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
Operating Expenses 75.6 102.4 11.6 41.9 53.6 61.3 55.4 44.1 47.8 45.9 18.3 159.9 18.5 18.8 18.4 22.6 25.3 23.6 6.8 6.8 18.2 22.8 18.1 21.6 19.0 21.9 22.1 18.6 17.7 15.3 12.2 12.0 9.8 8.1 9.3 8.2 7.3 6.8 7.5 6.9 5.4 5.6 4.5 4.9 2.5 3.2 3.1 1.7 0.9
Operating Income
Operating Income (75.6) (57.2) (56.9) (41.9) (53.6) (61.3) (55.4) (44.1) (47.8) (45.9) (18.3) (159.2) (18.8) (19.2) (18.8) (22.4) (24.4) (20.4) (20.3) (6.7) (18.2) (22.8) (18.1) (21.6) (19.0) (21.9) (22.1) (18.6) (17.7) (15.3) (12.2) (9.7) (8.2) (6.6) (8.0) (6.7) (6.3) (5.5) (6.3) (5.5) (4.6) (4.0) (3.4) (1.4) (2.5) (3.2) (3.1) (1.7) (0.9)
Interest 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 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Interest Income 7.0 7.1 5.4 5.9 6.5 5.8 5.2 5.9 4.4 4.1 1.3 0.3 0.4 0.4 0.3 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.2 0.3 0.4 0.6 0.6 0.5 0.4 0.3 0.3 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
Profitability
EBITDA (75.6) (62.5) (11.2) (51.9) (53.6) (61.3) (55.4) (44.1) (47.8) (47.8) (33.2) (28.3) (17.9) (18.3) (17.9) (21.8) (23.9) (19.9) (19.9) (6.3) (17.9) (22.4) (17.9) (21.3) (18.9) (21.8) (22.0) (18.5) (17.6) (15.2) (12.2) (9.6) (8.2) (6.6) (7.9) (6.7) (6.3) (5.5) (6.3) (5.5) (4.5) (4.0) (3.4) (1.4) (2.5) (3.2) (3.1) (1.7) (0.9)
EBIT (75.6) (62.5) (11.2) (51.9) (53.6) (61.3) (55.4) (44.1) (47.8) (47.8) (33.2) (28.8) (18.5) (18.8) (18.4) (22.3) (24.4) (20.4) (20.3) (6.7) (18.2) (22.8) (18.1) (21.6) (19.0) (21.9) (22.1) (18.6) (17.7) (15.3) (12.2) (9.7) (8.2) (6.6) (8.0) (6.7) (6.3) (5.5) (6.3) (5.5) (4.6) (4.0) (3.4) (1.4) (2.5) (3.2) (3.1) (1.7) (0.9)
Income Before Tax (69.0) (62.5) (11.2) (36.7) (44.8) (56.3) (69.0) (38.8) (43.8) (63.2) (40.1) (217.1) (18.5) (18.8) (18.4) (22.3) (24.4) (20.4) (20.3) (6.7) (18.2) (22.7) (18.0) (21.4) (18.7) (21.5) (21.6) (18.0) (17.2) (14.9) (11.9) (9.4) (8.1) (6.5) (7.9) (6.6) (6.2) (5.5) (6.2) (5.4) (4.5) (4.0) (3.4) (1.4) (2.5) (3.2) (3.2) (2.4) (1.5)
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 (0.2) 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
Net Income (69.0) (62.5) (11.2) (36.7) (44.8) (56.3) (69.0) (38.8) (43.9) (63.2) (40.1) (217.1) (18.4) (18.8) (18.2) (22.3) (24.4) (20.4) (20.3) (6.8) (18.2) (22.7) (18.0) (21.4) (18.7) (21.5) (21.6) (18.0) (17.2) (14.9) (11.9) (9.4) (8.1) (6.5) (7.9) (6.6) (6.2) (5.5) (6.2) (5.4) (4.5) (4.0) (3.4) (1.4) (2.5) (3.2) (3.2) (2.4) (1.5)
Per Share Data
EPS (Basic) -0.74 -0.69 -0.15 -0.60 -0.13 -0.15 -1.36 -0.86 -1.20 -2.91 -9.34 -56.79 -4.89 -7.20 -4.84 -6.79 -9.26 -10.36 -7.72 -2.60 -6.94 -9.82 -7.24 -10.11 -14.15 -16.52 -16.40 -13.72 -14.79 -14.95 -13.55 -11.43 -12.17 -10.19 -12.00 -11.75 -11.68 -11.84 -11.70 -11.53 -9.95 -8.72 -7.11 -2.97 -5.14 -6.33 -7.93 -5.84 -3.71
EPS (Diluted) -0.74 -0.70 -0.15 -0.60 -0.13 -0.15 -1.36 -0.86 -1.20 -2.91 -9.34 -56.79 -4.89 -7.20 -4.84 -6.79 -9.26 -10.36 -7.72 -2.60 -6.94 -9.82 -7.24 -10.11 -14.15 -16.52 -16.40 -13.72 -14.79 -14.95 -13.55 -11.43 -12.17 -10.19 -12.00 -11.75 -11.68 -11.84 -11.70 -11.53 -9.95 -8.72 -7.11 -2.97 -5.14 -6.33 -7.93 -5.84 -3.71
Shares Outstanding 346.0 346.0 74.9 60.7 60.3 47.0 50.9 45.3 36.5 21.7 4.3 3.8 3.8 2.6 3.8 3.3 2.6 2.0 2.6 2.6 2.6 2.3 2.5 2.1 1.3 1.3 1.3 1.3 1.2 1.0 0.9 0.8 0.7 0.6 0.7 0.6 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.4 0.4 0.4
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 97.2 85.7 64.9 81.7 48.5 89.4 71.6 45.1 227.6 188.9 90.6 235.4 35.2 34.9 39.0 37.5 14.6 15.1 24.7 34.8 80.2 90.1 54.2 65.7 12.6 19.3 24.5 25.4 85.6 22.5 14.5 20.6 10.8 12.8 13.2 26.9 16.8 47.7 49.5 70.6 24.0
Short-Term Investments 644.3 670.8 421.3 444.9 516.3 513.7 342.6 380.9 257.1 150.4 113.0 0 3.2 20.8 34.7 51.1 52.1 78.0 87.8 93.8 46.4 56.2 85.8 92.0 36.4 52.7 64.2 80.1 38.1 52.1 50.2 51.6 32.7 37.5 42.6 36.5 41.1 15.8 18.5 2.9 5.0
Net Receivables 4.6 0 0 0 0 0 0 0 0 0 0.2 1.6 0.3 0.4 0.7 0.5 1.0 0.8 0 0 21.5 0 0 0 0 0 0 0 0 0 2.4 4.3 3.4 3.1 2.5 1.2 1.0 1.2 1.6 1.6 1.6
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 0 0 0 0 0 0 0 0 0
Other Current Assets 17.9 21.2 18.4 12.3 4.9 5.4 6.9 9.7 2.6 2.3 2.2 2.9 5.6 6.2 0 0 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 3.3
Total Current Assets 764.0 777.8 504.6 538.8 569.8 608.5 421.1 435.7 487.3 341.5 205.9 239.9 44.4 62.3 82.2 96.6 72.6 98.9 117.5 134.4 151.4 149.8 144.4 161.9 54.3 74.5 92.6 109.9 126.8 76.7 70.4 78.9 48.8 55.0 59.5 66.2 60.3 66.4 71.7 76.9 35.2
Non-Current Assets
Property, Plant & Equipment 0 0 0 0 0 0 0 0 0 0 0 2.3 6.7 6.7 7.1 7.5 7.9 8.4 8.8 9.2 9.6 9.9 9.6 9.5 9.0 7.1 5.9 5.9 1.0 1.0 0.8 0.8 0.8 0.9 0.8 0.8 0.8 0.6 0.3 0.4 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 0 0 0 0 0 0 0.3 0 0 0 0 0 0 1.5 1.8 0 0 1.8 1.8 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 0 0 0 0 0.0 0.0 0.0 0.0 0.3 0.3 1.3 1.3 1.4 2.2 0.7 0.8 2.6 2.7 0.9 1.5 2.6 2.0 1.6 1.6 1.6 1.6 1.6 1.6 0.7 0.1 0.0 0.0 0.1 0.2 0.1 0.1 0.1 0.0 0.0 0.0 0.0
Total Non-Current Assets 0 0 0 0 0.0 0.0 0.0 0.3 0.3 0.3 1.3 3.6 8.1 8.9 9.3 10.1 10.6 11.0 11.5 12.6 12.2 11.8 11.2 11.0 10.5 8.7 7.5 7.6 1.7 1.1 0.9 0.8 0.9 1.1 1.0 0.9 1.0 0.6 0.4 0.4 0.3
Total Assets 764.0 777.8 504.6 538.8 569.8 608.5 421.1 436.1 487.6 341.9 207.3 243.5 52.5 71.1 91.6 106.7 83.2 109.9 129.1 147.0 163.6 161.6 155.6 172.9 64.8 83.2 100.1 117.5 128.5 77.7 71.3 79.7 49.8 56.1 60.5 67.1 61.3 67.1 72.1 77.3 35.5
Current Liabilities
Account Payables 5.7 8.9 7.5 3.7 3.7 0.7 5.2 3.2 3.1 0.9 1.7 2.9 2.1 0.7 4.2 2.0 3.0 3.3 1.9 2.2 1.9 2.3 2.3 4.2 3.6 3.2 2.4 2.7 3.2 0.7 1.1 1.0 0.8 0.4 0.6 0.6 0.3 0.2 0.5 0.3 0.5
Short-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 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 0.9 0.3 0.5 0.5 0.3 2.1 2.4 4.8 5.5 19.2 0 0 0 0 0 0 0 0 0 0 0 0 0.0 0.1 0.1 0.1 0.1 0.2 0 0
Other Current Liabilities 74.4 49.8 16.3 63.4 44.7 52.8 52.4 16.2 5.1 5.9 12.9 182.1 3.1 4.9 7.7 9.5 3.1 5.0 9.7 9.5 2.1 4.2 3.9 2.8 1.3 3.7 2.7 1.9 1.2 2.8 1.9 1.4 1.1 2.0 1.7 1.0 0.9 1.5 1.1 0.9 0.4
Total Current Liabilities 85.2 58.7 46.3 83.1 70.7 54.1 57.5 22.1 42.8 32.0 44.9 232.2 12.6 14.7 17.7 15.9 16.3 20.1 20.4 20.6 32.4 16.4 14.3 15.9 17.1 18.4 15.4 13.0 11.8 10.2 7.5 6.2 5.8 5.6 4.9 4.4 4.0 4.0 3.8 3.4 3.8
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 0 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 8.0 3.9 3.2 0 16.5 36.6 36.2 39.6 292.5 125.9 407.8 216.3 0 0 0 0 0.0 0 0.2 0.2 0.2 0.2 0.1 0.1 0.0 0.0 0.0 0.0 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
Total Non-Current Liabilities 8.0 3.9 3.2 0 16.5 36.6 36.2 39.6 292.5 125.9 407.8 218.7 6.2 6.2 6.3 6.7 5.2 5.8 6.6 7.4 7.5 5.3 5.0 4.8 4.8 4.7 4.9 4.9 0.4 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.0 0.0 0.0
Total Liabilities 93.1 62.5 49.5 83.1 87.2 90.7 93.7 61.7 335.3 157.8 452.7 450.9 18.8 20.8 24.0 22.6 21.5 26.0 27.0 28.0 39.9 21.8 19.4 20.7 22.0 23.1 20.3 17.9 12.2 10.3 7.6 6.3 5.9 5.7 5.0 4.5 4.1 4.1 3.9 3.4 3.8
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
Retained Earnings (1,196.6) (1,127.6) (1,065.1) (1,053.9) (1,017.2) (972.4) (916.1) (847.1) (808.3) (764.4) (701.2) (661.1) (444.0) (425.6) (406.8) (388.6) (366.2) (341.8) (321.4) (301.1) (294.2) (276.0) (253.3) (235.3) (213.8) (195.1) (173.6) (152.0) (134.0) (116.9) (102.0) (90.0) (80.6) (72.5) (66.0) (58.2) (51.5) (45.3) (39.8) (33.6) (28.1)
Accumulated Other Comprehensive Income (0.8) 0.9 0.8 0.5 0.7 0.2 1.5 (0.6) (0.4) 0.3 (0.1) 0.0 (0.0) (0.0) (0.2) (0.2) (0.2) (0.0) 0.0 0.0 0.0 0.0 0.0 0.0 (0.1) 0.1 0.1 0.1 0.0 (0.0) (0.0) (0.1) (0.1) (0.1) (0.0) (0.0) (0.0) (0.0) 0.0 0.0 0.0
Total Stockholders' Equity 670.8 715.2 455.1 455.8 482.6 517.8 327.4 374.4 152.3 184.0 (245.4) (207.4) 33.7 50.3 67.6 84.2 61.7 83.9 102.1 119.0 123.8 139.8 136.3 152.3 42.8 60.1 79.8 99.6 116.3 67.4 63.7 73.4 43.9 50.3 55.5 62.6 57.2 63.0 68.2 73.9 31.7
Total Liabilities & Equity 764.0 777.8 504.6 538.8 569.8 608.5 421.1 436.1 487.6 341.9 207.3 243.5 52.5 71.1 91.6 106.7 83.2 109.9 129.1 147.0 163.6 161.6 155.6 172.9 64.8 83.2 100.1 117.5 128.5 77.7 71.3 79.7 49.8 56.1 60.5 67.1 61.3 67.1 72.1 77.3 35.5
Debt Metrics
Total Debt 0 0 0 0 0 0 0 0 0 0 0 4.3 4.4 4.6 4.7 4.8 4.9 5.1 5.2 5.3 5.3 5.4 5.3 4.9 5.1 5.1 5.2 5.1 0.7 0 0 0 0 0 0 0 0 0 0 0 0
Net Debt (97.2) (85.7) (64.9) (81.7) (48.5) (89.4) (71.6) (45.1) (227.6) (188.9) (90.6) (231.0) (30.8) (30.2) (34.2) (32.7) (9.7) (10.1) (19.5) (29.5) (74.9) (84.6) (48.9) (60.8) (7.5) (14.2) (19.4) (20.3) (85.0) (22.5) (14.5) (20.6) (10.8) (12.8) (13.2) (26.9) (16.8) (47.7) (49.5) (70.6) (24.0)
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
Operating Activities
Net Income (69.0) (51.8) (11.2) (36.7) (44.8) (56.3) (69.0) (38.8) (43.9) (63.2) (40.1) (217.1) (18.4) (18.8) (18.2) (22.3) (24.4) (20.4) (20.3) (6.8) (18.2) (22.7) (18.0) (21.4) (18.7) (21.5) (21.6) (18.0) (17.2) (14.9) (11.9) (9.4) (8.1) (6.5) (7.9) (6.6) (6.2) (5.5) (6.2) (5.4) (4.5)
Depreciation & Amortization 0 (8.1) 0 0 0 0 0 0 0 (0.2) 0 0.4 0.5 0.4 0.5 0.6 0.4 0.4 0.4 0.4 0.4 0.4 0.3 0.2 0.2 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
Stock-Based Compensation 0 9.8 9.6 9.4 8.9 9.2 13.1 8.7 13.8 17.3 4.8 1.9 1.7 1.4 1.6 2.0 2.1 2.1 2.1 2.1 1.8 1.6 1.7 1.6 1.3 1.2 1.4 1.2 1.1 1.4 1.1 1.0 0.8 0.7 0.7 0.7 0.4 0.3 0.4 0.4 0.1
Change in Working Capital 0.2 (2.3) 5.9 (9.0) (0.6) 10.8 10.4 (29.2) 3.5 (1.9) (8.0) 6.0 (1.4) (1.2) 1.1 (1.1) (4.4) (1.5) 0.5 6.4 (3.5) 3.5 (1.5) 0.1 (4.6) 3.8 2.9 0.2 0.1 6.2 2.3 (1.0) (0.2) (0.1) (0.3) (0.1) 0.4 0.7 (0.0) 0.3 0.4
Other Non-Cash Items 11.2 7.8 (41.4) (10.2) (4.5) (0.9) 16.2 (2.9) (2.0) 18.7 8.7 192.1 (0.1) 0.0 (0.0) 0.1 0.1 0.2 0.3 0.0 0.1 0.1 0.0 0.1 0.1 0.1 (0.0) 0.1 0.0 0.1 (0.0) 0.3 0.0 (0.0) 0.1 0.0 (0.0) 0.1 (0.1) 0.0 0.0
Operating Cash Flow (57.5) (44.6) (37.1) (46.6) (41.0) (37.2) (29.4) (62.2) (28.5) (31.0) (34.6) (16.6) (17.6) (18.1) (15.1) (20.7) (26.3) (19.3) (17) 2.1 (19.5) (17.1) (17.5) (19.4) (21.7) (16.3) (17.2) (16.4) (15.8) (7.2) (8.5) (9.0) (7.4) (5.9) (7.4) (5.9) (5.4) (4.4) (5.9) (4.6) (4.0)
Investing Activities
Capital Expenditure 0 0 0 0 0 0 0 0 0 0 0 0 0 0 (0.0) 0 (0.0) 0 (0.1) (0.0) (0.5) (1) (0.6) (1.3) (1.4) (1.2) (0.1) (0.1) (0.1) (0.2) (0.1) (0.0) (0.1) (0.2) (0.1) (0.0) (0.3) (0.1) 0 (0.1) (0.0)
Acquisitions 0 0 0 0 0 0 0 0 0 (15.5) 0 0 0 0 0 0 0 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 (81.2) (341.7) (74.2) (34.9) (71.4) (233.1) (35.1) (178.4) (152.7) (54.2) (112.6) 0 0 (4.5) (7.2) (24.2) (3.5) (13.2) (26.2) (69.3) (24.2) (31) (22.5) (71.5) (4) (4.2) (9.7) (58.2) (19.8) (26.7) (9.2) (26.2) 0 (2) (24.3) (5) (32.8) 0 (17.4) 0 (2.9)
Sales/Maturities of Investments 107.7 94.3 99.2 106.9 71.4 62.5 77.8 57.9 47.8 18.9 0 3.2 17.8 18.5 23.8 25 29.3 22.9 32.1 22 34 60.6 28.9 16.1 20.1 15.8 25.9 16.2 33.8 24.8 10.8 7.1 4.8 7.0 18.2 9.6 7.4 2.7 2 2.0 1.8
Other Investing Activities 30 0 0 7 0 0 0 0 0 15.5 15 3.5 0 0 0 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 (0.1) 0
Investing Cash Flow 56.6 (247.4) 25.0 79.0 (0.1) (170.5) 42.7 (120.5) (105.0) (35.3) (97.6) 6.8 17.8 14 16.5 0.8 25.8 9.7 5.8 (47.4) 9.3 28.6 5.8 (56.8) 14.8 10.3 16.0 (42.0) 13.9 (2.1) 1.4 (19.2) 4.7 4.8 (6.3) 4.5 (25.6) 2.6 (15.3) 1.9 (1.2)
Financing Activities
Net Debt Issuance 0 0 0 0 0 0 0 0 0 0 0 (0.0) (0.0) (0.0) (0.1) (0.2) (0.2) (0.2) (0.1) (0.2) (0.0) (0.0) (0.0) (0.0) (0.0) (0.0) (0.0) (0.0) (0.0) 0 0 0 0 0 0 0 0 0 0 0 0
Stock Repurchased 0 0 0 0 (0.1) 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
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) (5.1) 0 0.2 1.0 1.2 169.7 (166.2) (5.8) 0.1 0 0.0 0 0.0 43.0 0.2 0.2 1.3 0.0 0.4 0.1 0.4 0.0 0.3 0.6 0.4 0.1 0.4 0.9 1.1 0.4 0.7 0.7 0.1 11.6 0.1 0 0.1 0.1 (0.1)
Financing Cash Flow 12.4 312.8 (4.6) 0.7 0.1 225.6 12.8 0.4 172.2 163.6 (12.5) 210.0 0.0 (0.0) (0.1) 42.8 0.0 0.1 1.1 (0.2) 0.4 24.7 0.3 129.3 0.3 0.7 0.3 (0.3) 65.1 17.3 1.1 38.1 0.7 0.7 (0.1) 11.6 0.1 0 0.1 49.4 (0.1)
Cash Position
Net Change in Cash 11.5 20.8 (16.8) 33.2 (40.9) 17.8 26.1 (182.4) 38.7 97.3 (144.8) 200.1 0.1 (4.1) 1.2 22.8 (0.5) (9.5) (10.1) (45.5) (9.9) 36.2 (11.5) 53.1 (6.7) (5.3) (0.9) (58.7) 63.2 7.9 (6.0) 9.8 (2.1) (0.3) (13.8) 10.1 (30.9) (1.8) (21.1) 46.6 (5.3)
Cash at Beginning 85.7 64.9 81.7 48.5 89.4 71.6 45.5 227.9 189.2 91.9 236.7 36.6 36.4 40.5 39.3 16.5 17.0 26.5 36.6 82.1 91.9 55.7 67.2 14.1 20.8 26.0 26.9 85.6 22.5 14.5 20.6 10.8 12.8 13.2 26.9 16.8 47.7 49.5 70.6 24.0 29.3
Cash at End 97.2 85.7 64.9 81.7 48.5 89.4 71.6 45.5 227.9 189.2 91.9 236.7 36.6 36.4 40.5 39.3 16.5 17.0 26.5 36.6 82.1 91.9 55.7 67.2 14.1 20.8 26.0 26.9 85.6 22.5 14.5 20.6 10.8 12.8 13.2 26.9 16.8 47.7 49.5 70.6 24.0
Free Cash Flow (57.5) (44.6) (37.1) (46.6) (41.0) (37.2) (29.4) (62.2) (28.5) (31.0) (34.6) (16.6) (17.6) (18.1) (15.1) (20.7) (26.3) (19.3) (17.1) 2.1 (20.0) (18.1) (18.1) (20.7) (23.1) (17.5) (17.4) (16.4) (15.9) (7.4) (8.6) (9.1) (7.5) (6.1) (7.5) (6.0) (5.7) (4.5) (5.9) (4.7) (4.0)
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
Income Statement
Revenue 0 90.5 0 0 0 0 0 0 0 0 0 0.7 0.2 0.2 0.2 0.6 1.4 3.6 1.4 13.7 0 0 0 0 0 0 0 0 0 0 0 2.4 1.5 1.5 1.3 1.5 1.0 1.2 1.1 1.4 0.9 1.6 1.1 3.4 0 0 0 0 0
Gross Profit 0 45.2 (45.2) 0 0 0 0 0 0 0 0 0.7 (0.3) (0.3) (0.3) 0.1 0.9 3.1 (13.5) 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
Operating Income (75.6) (57.2) (56.9) (41.9) (53.6) (61.3) (55.4) (44.1) (47.8) (45.9) (18.3) (159.2) (18.8) (19.2) (18.8) (22.4) (24.4) (20.4) (20.3) (6.7) (18.2) (22.8) (18.1) (21.6) (19.0) (21.9) (22.1) (18.6) (17.7) (15.3) (12.2) (9.7) (8.2) (6.6) (8.0) (6.7) (6.3) (5.5) (6.3) (5.5) (4.6) (4.0) (3.4) (1.4) (2.5) (3.2) (3.1) (1.7) (0.9)
Net Income (69.0) (62.5) (11.2) (36.7) (44.8) (56.3) (69.0) (38.8) (43.9) (63.2) (40.1) (217.1) (18.4) (18.8) (18.2) (22.3) (24.4) (20.4) (20.3) (6.8) (18.2) (22.7) (18.0) (21.4) (18.7) (21.5) (21.6) (18.0) (17.2) (14.9) (11.9) (9.4) (8.1) (6.5) (7.9) (6.6) (6.2) (5.5) (6.2) (5.4) (4.5) (4.0) (3.4) (1.4) (2.5) (3.2) (3.2) (2.4) (1.5)
EPS (Diluted) -0.74 -0.70 -0.15 -0.60 -0.13 -0.15 -1.36 -0.86 -1.20 -2.91 -9.34 -56.79 -4.89 -7.20 -4.84 -6.79 -9.26 -10.36 -7.72 -2.60 -6.94 -9.82 -7.24 -10.11 -14.15 -16.52 -16.40 -13.72 -14.79 -14.95 -13.55 -11.43 -12.17 -10.19 -12.00 -11.75 -11.68 -11.84 -11.70 -11.53 -9.95 -8.72 -7.11 -2.97 -5.14 -6.33 -7.93 -5.84 -3.71
Balance Sheet
Cash & Equivalents 97.2 85.7 64.9 81.7 48.5 89.4 71.6 45.1 227.6 188.9 90.6 235.4 35.2 34.9 39.0 37.5 14.6 15.1 24.7 34.8 80.2 90.1 54.2 65.7 12.6 19.3 24.5 25.4 85.6 22.5 14.5 20.6 10.8 12.8 13.2 26.9 16.8 47.7 49.5 70.6 24.0
Total Assets 764.0 777.8 504.6 538.8 569.8 608.5 421.1 436.1 487.6 341.9 207.3 243.5 52.5 71.1 91.6 106.7 83.2 109.9 129.1 147.0 163.6 161.6 155.6 172.9 64.8 83.2 100.1 117.5 128.5 77.7 71.3 79.7 49.8 56.1 60.5 67.1 61.3 67.1 72.1 77.3 35.5
Total Debt 0 0 0 0 0 0 0 0 0 0 0 4.3 4.4 4.6 4.7 4.8 4.9 5.1 5.2 5.3 5.3 5.4 5.3 4.9 5.1 5.1 5.2 5.1 0.7 0 0 0 0 0 0 0 0 0 0 0 0
Stockholders' Equity 670.8 715.2 455.1 455.8 482.6 517.8 327.4 374.4 152.3 184.0 (245.4) (207.4) 33.7 50.3 67.6 84.2 61.7 83.9 102.1 119.0 123.8 139.8 136.3 152.3 42.8 60.1 79.8 99.6 116.3 67.4 63.7 73.4 43.9 50.3 55.5 62.6 57.2 63.0 68.2 73.9 31.7
Cash Flow
Operating Cash Flow (57.5) (44.6) (37.1) (46.6) (41.0) (37.2) (29.4) (62.2) (28.5) (31.0) (34.6) (16.6) (17.6) (18.1) (15.1) (20.7) (26.3) (19.3) (17) 2.1 (19.5) (17.1) (17.5) (19.4) (21.7) (16.3) (17.2) (16.4) (15.8) (7.2) (8.5) (9.0) (7.4) (5.9) (7.4) (5.9) (5.4) (4.4) (5.9) (4.6) (4.0)
Capital Expenditure 0 0 0 0 0 0 0 0 0 0 0 0 0 0 (0.0) 0 (0.0) 0 (0.1) (0.0) (0.5) (1) (0.6) (1.3) (1.4) (1.2) (0.1) (0.1) (0.1) (0.2) (0.1) (0.0) (0.1) (0.2) (0.1) (0.0) (0.3) (0.1) 0 (0.1) (0.0)
Free Cash Flow (57.5) (44.6) (37.1) (46.6) (41.0) (37.2) (29.4) (62.2) (28.5) (31.0) (34.6) (16.6) (17.6) (18.1) (15.1) (20.7) (26.3) (19.3) (17.1) 2.1 (20.0) (18.1) (18.1) (20.7) (23.1) (17.5) (17.4) (16.4) (15.9) (7.4) (8.6) (9.1) (7.5) (6.1) (7.5) (6.0) (5.7) (4.5) (5.9) (4.7) (4.0)