Wave Life Sciences Ltd. logo WVE - Wave Life Sciences Ltd.

Price: -- -- | CONSENSUS: Buy DETAILS
STRONG
BUY
1
BUY 23
HOLD 1
SELL 0
STRONG
SELL
0
| PRICE TARGET: $26.38 DETAILS
HIGH: $43.00
LOW: $13.00
MEDIAN: $28.00
CONSENSUS: $26.38
UPSIDE: 313.48%
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 38.2 17.2 7.6 8.7 9.2 83.7 (7.7) 19.7 12.5 29.1 49.2 22.1 12.9 1.2 0.3 0.4 1.8 1.8 36.4 2.8 0 9.4 3.5 3.0 4.2 2.4 2.9 7.6 3.0 3.6 4.5 4.9 1.4 1.7 0.7 0.7 0.7 0.7 0.4 0.4 0 0.2 0 0.1 0.0 0 0 0 0
Cost of Revenue 0 2.3 0 2.2 2.2 0 0 0 0 2.2 31.6 33.3 31.0 31.1 27.6 29.7 27.5 25.8 31.1 31.6 0 30.0 28.3 31.5 41.2 49.1 44.6 41.6 40.1 39.8 32.9 32.5 29.2 25.4 20.1 19.1 14.7 14.0 13.7 8.4 4.7 3.5 2.1 1.9 1.6 0.7 0.6 0.5 0.5
Gross Profit 38.2 15.0 7.6 6.5 7.0 83.7 (7.7) 19.7 12.5 26.9 17.6 (11.2) (18.1) (29.8) (27.3) (29.4) (25.7) (24.0) 5.3 (28.9) 0 (20.6) (24.8) (28.5) (37.0) (46.7) (41.7) (34.0) (37.1) (36.2) (28.4) (27.7) (27.8) (23.7) (19.4) (18.4) (14.1) (13.3) (13.3) (8.0) (4.7) (3.3) (2.1) (1.7) (1.6) (0.7) (0.6) (0.5) (0.5)
Operating Expenses
R&D Expenses 47.4 52.8 45.9 43.5 40.6 44.6 41.2 40.4 33.4 34.1 31.6 33.3 31.0 31.1 27.6 29.7 27.5 25.8 31.1 31.6 33.4 30.0 28.3 31.5 41.2 49.1 44.6 41.6 40.1 39.8 32.9 32.5 29.2 25.4 20.1 19.1 14.7 14.0 13.7 8.4 4.7 3.5 2.1 1.9 1.6 0.7 0.6 0.5 0.5
SG&A Expenses 22.1 20.9 18.1 18.0 18.4 16.1 15.0 14.3 13.5 13.7 13.1 12.3 12.2 13.7 11.6 12.8 12.4 12.1 12.9 11.0 10.1 9.7 9.6 10.2 13.0 13.8 12.5 11.6 10.9 12.8 9.8 8.9 8.0 6.9 7.6 6.7 5.8 5.2 3.9 3.7 3.2 3.7 2.9 1.9 1.9 1.1 0.8 0.6 0.6
Other Expenses 0 (2.3) 0 (2.2) (2.2) 0 0 0 0 (2.2) (31.6) (33.3) (31.0) (31.1) (27.6) (29.7) (27.5) (25.8) (31.1) (31.6) 0 (30.0) (28.3) (31.5) (41.2) (49.1) 2.2 2.1 2.4 9.9 (0.5) (0.3) 0.3 (0.1) (0.1) (0.1) (0.1) (0.0) (0.0) 0.0 (0.0) (0.1) 0.1 (0.0) 0.1 0.0 0.0 0 0
Operating Expenses 69.5 71.5 64.0 59.3 56.8 60.8 56.2 54.7 47.0 45.6 13.1 12.3 12.2 13.7 11.6 12.8 12.4 12.1 12.9 11.0 43.5 9.7 9.6 10.2 13.0 13.8 57.1 53.2 51.0 52.6 42.7 41.5 37.2 32.3 27.7 25.8 20.6 19.2 17.6 12.1 8.0 7.2 5.0 3.8 3.5 1.8 1.4 0.5 0.5
Operating Income
Operating Income (31.3) (56.5) (56.4) (52.8) (49.8) 23.0 (63.9) (35.0) (34.5) (18.7) 4.4 (23.5) (30.3) (43.6) (38.9) (42.2) (38.1) (36.1) (7.6) (39.8) (43.5) (30.3) (34.4) (38.7) (50.0) (60.5) (54.2) (45.6) (48.0) (48.9) (38.2) (36.6) (35.8) (30.6) (27.0) (25.1) (19.9) (18.5) (17.2) (11.6) (8.0) (7.2) (5.0) (3.6) (3.5) (1.8) (1.4) (1.1) (1.1)
Interest Expense 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 0.3 0.1 0.1 0 0.1 0.0 0.0 0 0 0 0 0
Interest Income 5.3 3.1 2.2 2.4 2.9 3.7 1.8 2.1 2.5 1.8 2.0 2.3 0 0 0.6 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 0 0 0 0 0 0.0 0.0
Profitability
EBITDA (29.0) (50.9) (51.6) (50.6) (47.6) 25.1 (61.8) (32.8) (32.3) (16.5) 5.6 (22.2) (28.9) (42.1) (37.3) (40.5) (36.4) (34.3) (5.8) (37.9) (41.0) (28.3) (32.4) (36.6) (48.0) (58.5) (51.8) (43.4) (45.8) (47.2) (36.8) (35.3) (34.6) (29.5) (25.8) (24.3) (19.9) (18.2) (17.0) (11.5) (7.8) (7.1) (4.7) (3.5) (3.4) (1.4) (1.3) (1.1) (1.1)
EBIT (31.3) (53.2) (53.9) (52.8) (49.8) 23.0 (63.9) (35.0) (34.5) (18.7) 4.4 (23.5) (30.3) (43.6) (38.9) (42.2) (38.1) (36.1) (7.6) (39.8) (43.5) (30.3) (34.4) (38.7) (50.0) (60.5) (54.2) (45.6) (48.0) (48.9) (38.2) (36.6) (35.8) (30.6) (26.4) (24.7) (20.2) (18.5) (17.2) (11.6) (8.0) (7.2) (5.0) (3.6) (3.5) (1.5) (1.4) (1.1) (1.1)
Income Before Tax (26.1) (53.2) (53.9) (50.5) (46.9) 29.3 (61.8) (32.9) (31.6) (16.3) 7.9 (21.1) (27.4) (43.0) (39.0) (41.3) (37.8) (34.6) (6.2) (38.8) (42.5) (27.9) (33.1) (40.5) (47.5) (56.8) (50.7) (41.9) (44.2) (38.0) (37.6) (35.9) (35.1) (30.4) (26.6) (24.7) (19.7) (18.3) (17.2) (11.5) (7.9) (7.2) (4.9) (3.7) (3.4) (1.8) (1.3) (1.0) (1.0)
Income Tax Expense 0 0 0 0 0 0 0 0 0 0 0.7 0 0 0.7 0 0 0 0.2 0 0 0 0.8 0 0 0 0 0 0 0 (0.1) 0 0 0.2 (0.2) (0.4) 0.0 1.3 0.2 0.4 0.0 (0.0) (0.1) 0.1 0.0 0.1 (0.0) 0.0 0.0 0.0
Net Income (26.1) (53.2) (53.9) (50.5) (46.9) 29.3 (61.8) (32.9) (31.6) (16.3) 7.3 (21.1) (27.4) (43.7) (39.0) (41.3) (37.8) (34.8) (6.2) (38.8) (42.5) (28.8) (33.1) (40.5) (47.5) (56.8) (50.7) (41.9) (44.2) (37.9) (37.6) (35.9) (35.2) (30.2) (26.1) (24.7) (21.0) (18.5) (17.5) (11.6) (7.8) (7.1) (4.9) (3.7) (3.5) (1.7) (1.4) (1.1) (1.1)
Per Share Data
EPS (Basic) -0.13 -0.30 -0.32 -0.31 -0.29 0.18 -0.47 -0.25 -0.24 -0.15 0.07 -0.20 -0.24 -0.47 -0.42 0.00 -0.62 -0.61 -0.12 -0.78 -0.86 -0.59 -0.86 -1.15 -1.38 -1.65 -1.48 -1.22 -1.36 -1.16 -1.28 -1.23 -1.26 -1.09 -0.94 -0.92 -0.89 -0.79 -0.75 -0.51 -0.36 -0.33 -0.25 -0.18 -0.17 -0.08 -0.07 -0.30 -0.30
EPS (Diluted) -0.13 -0.30 -0.32 -0.31 -0.29 0.17 -0.47 -0.25 -0.24 -0.15 0.07 -0.20 -0.24 -0.47 -0.42 0.00 -0.62 -0.61 -0.12 -0.78 -0.86 -0.59 -0.86 -1.15 -1.38 -1.65 -1.48 -1.22 -1.36 -1.16 -1.28 -1.23 -1.26 -1.08 -0.94 -0.92 -0.89 -0.78 -0.75 -0.51 -0.36 -0.33 -0.25 -0.18 -0.17 -0.08 -0.07 -0.30 -0.30
Shares Outstanding 200.2 180.2 167.7 164.0 162.5 161.5 131.4 129.5 129.3 109.6 106.0 105.5 102.1 94.0 92.9 66.5 60.5 57.0 50.7 50.0 49.1 48.8 38.4 35.2 34.5 34.3 34.3 34.3 32.6 32.6 29.3 29.1 27.9 27.8 27.8 26.9 23.5 23.5 23.4 22.7 21.6 21.6 19.6 20.9 20.9 20.9 20.9 3.6 3.6
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
Current Assets
Cash & Cash Equivalents 544.6 602.1 196.2 208.5 243.1 302.1 310.9 154.0 180.9 200.4 139.9 173.0 207.6 88.5 97.0 123.2 61.7 150.6 123.9 143.8 148.5 184.5 216.4 94.1 120.9 147.2 209.0 252.9 287.6 174.8 210.5 241.4 110.5 142.5 168.5 197.4 129.5 150.3 169.0 181.8 153.4
Short-Term Investments 0 0 0 0 0 0 0 0 0 0 0 0 0 0 25.0 25 50 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 Receivables 0 1.3 10 1.6 0 1.4 0 1.3 0 21.1 7 0 0 0 0 0 0 0 22.5 0 30 30 30 30 18.8 20 20 20 10 10 10 15 0 1 0 0 0 0 2.5 0 0
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 (0.1) 0 (0.0) 0 0 0 0 0.0 0 0
Other Current Assets 16.7 11.5 2.6 6.8 6.8 7.3 3.0 4.7 4.7 4.0 4.1 2.7 2.8 2.1 2.0 6.6 5.7 5.4 4.0 6.4 5.6 5.1 4.1 16.3 0.0 8.7 0 0 0 10.9 0 0 0 0 0 0 0 0.2 0 0 0.0
Total Current Assets 561.3 614.8 215.5 223.6 258.0 320.4 324.5 172.1 196.8 235.4 158.6 184.7 219.6 98.5 131.4 160.1 124.4 162.6 158.0 159.4 194.5 230.0 258.4 146.8 149.8 185.5 250.3 289.6 315.0 202.3 233.2 267.7 118.0 150.5 173.8 201.2 132.8 152.0 172.1 183.9 154
Non-Current Assets
Property, Plant & Equipment 18.1 19.9 22.1 24.3 26.1 28.0 30.0 32.1 33.9 35.7 37.5 39.8 41.8 44.1 46.4 48.6 38.6 40.6 38.7 41.0 43.1 45.4 47.8 50.3 52.6 54.5 55.7 57.3 59.3 39.9 37.7 32.4 28.8 27.3 24.6 20.8 14.3 8.6 6.7 5.1 3.2
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 3.8 3.8 0 0 0 0 3.7 3.7 0 0 3.7 3.7 0 0 3.7 0 3.7 0 0 0 0 3.7 0 0 33.6 33.6 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Other Non-Current Assets 0.4 0.0 3.8 4.5 4.2 3.8 0.2 0.9 4.6 3.9 0.2 1.8 5.8 3.7 0.0 4.6 0.7 3.8 3.9 5.9 5.0 0.1 3.8 6.8 2.5 10.7 41.2 38.7 56.3 53.7 53.7 53.7 3.7 4.0 3.7 3.7 3.7 3.7 1.1 1.1 1.1
Total Non-Current Assets 22.3 23.7 25.9 28.8 30.4 31.8 34.0 36.7 38.5 39.6 41.3 45.3 47.7 47.8 50.1 53.2 43.0 44.4 42.5 47.0 48.1 49.2 51.6 57.1 88.8 98.8 97.0 96.0 115.6 93.7 91.4 86.1 32.5 31.4 28.3 25.2 18.7 12.8 7.8 6.4 4.5
Total Assets 583.5 638.5 241.4 252.4 288.3 352.2 358.5 208.8 235.3 274.9 199.9 230.0 267.3 146.4 181.5 213.3 167.4 207.0 200.5 206.4 242.6 279.2 310.1 204.0 238.6 284.2 347.2 385.5 430.6 295.9 324.6 353.7 150.4 181.8 202.1 226.4 151.5 164.8 180.0 190.3 158.5
Current Liabilities
Account Payables 19.1 15.7 14.5 14.7 14.4 16.3 12.8 18.1 11.7 12.8 12.6 12.4 11.9 16.9 15.9 11.2 9.9 7.3 7.4 8.7 13.4 13.8 9.7 13.9 16.5 9.1 20.2 11.5 14.6 13.1 12.0 7.2 8.0 7.6 4.7 8.0 7.4 4.9 3.8 3.9 2.4
Short-Term Debt 8.3 8.4 0 0 0 0 7.4 7.2 0 0 0 0 0 0 4.9 0 5.1 0 0 0 0 3.7 0 0 3.4 3.2 3.1 3.0 2.9 1.2 1.0 0.8 0.5 (0.3) 0.7 0.3 0.2 0.1 0.1 0 0
Deferred Revenue 9.4 44.4 46.5 51.6 57.3 66.0 135.9 137.1 140.6 150.1 68.3 111.1 107.0 31.6 32.3 37.5 36.4 37.1 8.7 24.2 24.8 91.6 86.2 0 88.0 89.7 96.3 98.0 105.9 100.9 103.2 27.3 1.3 2.7 2.7 2.7 2.7 2.7 2.7 2.5 (0.1)
Other Current Liabilities 13.0 26.6 11.1 8.8 4.5 15.4 4.9 3.2 3.7 14.1 8.5 6.9 3.6 12.3 3.1 6.6 7.1 10.2 7.5 6.1 0 3.0 7.0 84.8 11.0 7.5 (3.1) (3.0) (2.9) 6.5 (0.9) (0.7) (0.4) 3.5 0.0 (0.0) (0.2) 3.4 (0.1) 0.0 0
Total Current Liabilities 49.8 95.1 85.9 87.4 87.4 111.0 170.7 173.1 165.9 186.4 100.0 140.2 132.6 71.5 64.3 64.1 58.5 64.2 31.6 46.7 48.7 121.0 109.7 110.5 118.9 118.2 133.4 124.1 131.9 130.0 125.8 43.8 16.3 19.6 15.1 15.6 14.1 12.2 11.4 8.6 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 9.2 0 0 4.2 3.1 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 59.2 60.5 60.2 68.2 69.5 149.9 12.5 1.4 11.7 0.8 0.8 0.0 0.0 0.0 0.1
Other Non-Current Liabilities 0 0 7.9 7.9 7.9 7.9 0 0 7.9 7.9 7.9 8.1 8.1 8.1 0 7.9 0.9 7.9 8.9 8.2 8.3 0.5 9.3 62.6 1.6 1.7 1.8 1.9 2.0 5.9 14.8 12.9 9.9 10.6 7.0 15.0 4.8 1.6 0.5 8.3 0.3
Total Non-Current Liabilities 22.0 17.2 30.9 25.7 29.2 31.7 38.3 31.3 44.0 48.9 140.4 141.5 169.4 120.0 113.9 118.3 101.1 110.3 139.0 137.8 141.1 67.5 92.2 90.1 91.0 94.5 99.0 101.2 101.9 92.6 92.2 170.7 24.1 22.4 21.1 22.0 20.4 17.8 17.4 15.4 8.2
Total Liabilities 71.8 112.3 116.8 113.1 116.5 142.7 209.0 204.4 209.9 235.3 240.4 281.7 302.0 191.5 178.2 182.4 159.5 174.5 170.6 184.6 189.8 188.6 201.8 200.6 209.8 212.6 232.4 225.3 233.8 222.6 218.0 214.4 40.4 42.0 36.2 37.5 34.4 29.9 28.8 24.1 12.0
Stockholders' Equity
Common Stock 1,626.9 1,616.5 1,223.7 1,191.0 1,179.3 1,175.2 1,139.7 950.5 949.9 935.4 841.4 839.7 837.9 802.8 802.7 802.4 751.2 749.9 716.1 707.7 702.6 694.1 694.1 551.5 540.2 539.5 538.8 538.5 538.4 375.1 374.5 373.2 311.6 310.0 309.4 309.4 215.8 215.6 215.5 215.4 185.3
Retained Earnings (1,352.3) (1,326.2) (1,273.1) (1,219.2) (1,168.7) (1,121.9) (1,151.1) (1,089.3) (1,056.4) (1,024.8) (1,008.6) (1,015.8) (994.7) (967.3) (923.6) (884.6) (843.3) (805.5) (770.7) (764.5) (725.7) (683.3) (654.5) (621.4) (580.9) (533.4) (476.6) (425.9) (383.9) (339.7) (301.8) (264.2) (228.3) (192.5) (162.3) (136.2) (111.5) (90.5) (72.0) (54.5) (42.9)
Accumulated Other Comprehensive Income (0.3) (0.2) (0.2) (0.2) (0.2) (0.3) (0.2) (0.3) (0.2) (0.1) (0.2) (0.1) (0.1) (0.0) (0.1) (0.0) 0.1 0.2 0.3 0.3 0.3 0.4 0.3 0.3 0.3 0.3 0.3 0.3 0.2 0.2 0.2 0.2 0.2 0.1 (0.3) (0.3) (0.3) (0.3) 0.1 0.1 0.1
Total Stockholders' Equity 511.7 526.2 124.5 139.3 171.8 209.5 149.5 4.4 25.4 39.6 (40.5) (51.7) (34.7) (45.1) 3.4 30.9 7.8 32.5 29.9 21.8 52.8 90.7 108.2 3.4 28.7 71.6 114.8 160.2 196.9 73.3 106.6 139.3 110.0 139.8 165.9 188.9 117.1 134.9 151.1 166.3 146.5
Total Liabilities & Equity 583.5 638.5 241.4 252.4 288.3 352.2 358.5 208.8 235.3 274.9 199.9 230.0 267.3 146.4 181.5 213.3 167.4 207.0 200.5 206.4 242.6 279.2 310.1 204.0 238.6 284.2 347.2 385.5 430.6 295.9 324.6 353.7 150.4 181.8 202.1 226.4 151.5 164.8 180.0 190.3 158.5
Debt Metrics
Total Debt 15.7 17.8 19.8 21.7 23.6 25.4 27.2 28.9 30.5 32.1 33.7 35.2 36.6 37.6 38.6 39.5 28.7 29.9 26.6 27.5 28.4 29.3 30.2 31.0 31.8 32.5 33.3 34.0 34.7 10.4 9.2 7.2 4.7 3.5 2.8 2.5 1.3 0.1 0.1 0.1 0.1
Net Debt (528.9) (584.3) (176.4) (186.8) (219.5) (276.7) (283.8) (125.1) (150.4) (168.2) (106.3) (137.8) (170.9) (50.9) (58.4) (83.6) (33.0) (120.6) (97.3) (116.3) (120.1) (155.2) (186.2) (63.1) (89.2) (114.6) (175.7) (218.9) (252.9) (164.4) (201.3) (234.2) (105.8) (139.0) (165.7) (194.9) (128.2) (150.2) (168.9) (181.7) (153.3)
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 (26.1) (53.2) (53.9) (50.5) (46.9) 29.3 (61.8) (32.9) (31.6) (16.3) 7.3 (21.1) (27.4) (43.7) (39.0) (41.3) (37.8) (34.8) (6.2) (38.8) (42.5) (28.8) (33.1) (40.5) (47.5) (56.8) (50.7) (41.9) (44.2) (37.9) (37.6) (35.9) (35.2) (30.2) (26.1) (24.7) (21.0) (18.5) (17.5) (11.6) (7.8)
Depreciation & Amortization 1.5 2.3 2.2 2.2 2.2 2.2 2.2 2.2 2.2 2.2 2.3 2.3 2.4 2.5 2.6 2.5 2.5 2.5 2.4 2.4 2.5 2.5 2.5 2.5 2.5 2.4 2.4 2.2 2.2 1.7 1.5 1.2 1.2 0.9 0.6 0.4 0.3 0.3 0.2 0.2 0.2
Stock-Based Compensation 9.1 0 6.5 6.2 5.0 3.2 3.5 3.5 2.9 2.4 2.3 2.4 2.8 2.9 3.4 7.0 4.0 3.7 5.9 2.7 4.1 3.2 3.3 3.8 4.0 5.0 5.0 5.2 4.3 4.0 3.6 3.5 4.4 3.2 3 3.0 3.0 2.5 2.2 1.3 0.9
Change in Working Capital (44.8) 10.2 0.5 (3.9) (23.3) (78.3) 9.6 (0.2) (6.9) (21.4) (46.3) (20.9) 107.7 4.9 7.4 3.0 (8.5) 21.5 (30.2) 24.2 (8.4) (8.4) 7.1 (3.9) 14.8 (11.9) (0.3) 1.6 (12.7) (0.4) 3.6 102.3 (3.1) 2.9 (2.6) 0.2 (0.8) 3.2 3.1 10.3 (0.4)
Other Non-Cash Items 0.8 8.6 0 0 0 0 0 0 0 20.4 6.6 6.9 12.3 0.0 0 11.8 0 14.5 0 0 0 0 0 0 0 0 5.5 (9.4) (2.2) (0.2) (0.0) 0.1 0.3 0.3 1.0 1.1 1.0 0.2 0.1 0.1 0.1
Operating Cash Flow (59.6) (32.1) (44.7) (46.0) (63.0) (43.6) (46.5) (27.5) (33.4) (33.2) (34.5) (37.3) 85.5 (33.4) (25.6) (28.8) (39.9) (7.0) (28.2) (9.4) (44.4) (31.4) (20.2) (38.1) (26.2) (61.2) (43.7) (32.9) (50.4) (32.8) (29.0) 71.4 (32.4) (22.8) (23.4) (20.1) (17.4) (13.3) (11.8) 0.4 (7.1)
Investing Activities
Capital Expenditure (0.4) 0.0 (0.2) (0.3) (0.2) (0.1) (0.4) (0.1) (0.4) (0.4) (0.2) (0.1) (0.5) (0.2) (0.5) (0.5) (0.2) (0.0) (0.1) (0.3) (0.1) (0.6) (0.1) (0.1) (0.6) (1.3) (0.5) (1.6) (0.5) (3.5) (3.4) (1.9) (1.2) (4.1) (5.6) (5.6) (3.6) (2.7) (1.3) (0.9) (0.7)
Acquisitions 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 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Purchases of Investments 0 0 0 0 0 0 0 0 0 0 0 0 0 0 (25.0) (50) (50) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Sales/Maturities of Investments 0 0 0 0 0 0 0 0 0 0 0 0 0 25.0 25 25 0 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 Investing Activities 0 (0.7) 0 0 0 0 0 0 0 (0.0) 0 0 0 0 0 50.0 0 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) 0 0.0 0
Investing Cash Flow (0.4) 0.0 (0.2) (0.3) (0.2) (0.1) (0.4) (0.1) (0.4) (0.4) (0.2) (0.1) (0.5) 24.8 (0.5) 24.6 (50.2) (0.0) (0.1) (0.3) (0.1) (0.6) (0.1) (0.1) (0.6) (1.3) (0.5) (1.6) (0.5) (3.5) (3.4) (1.9) (1.2) (4.1) (5.6) (5.6) (3.6) (5.3) (1.3) (0.9) (0.7)
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 0 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 0 0 0 0 0 0 0 0 0 0 0 0 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 2.5 0.6 2.9 2.0 15.1 0.1 0.5 0.4 0.4 0.1 0.4 0.1 0.2 14.3 0.2 0 0.3 0 0.5 0.0 0.9 0.0 0.0 0.8 0.3 0 1.5 0.6 1.4 1.6 1.6 0.6 0.1 93.6 0.2 0.0 0.2 (1.0) 0
Financing Cash Flow 2.5 442.6 32.7 11.7 4.2 35.0 203.7 0.7 14.5 94.0 1.7 1.8 35.1 0.1 0.0 65.8 1.3 33.8 8.3 5.0 8.6 0.0 142.5 11.4 0.6 0.8 0.3 (0.2) 163.5 0.6 1.4 61.6 1.5 0.6 0.1 93.5 0.2 0.0 0.2 28.9 (0.0)
Cash Position
Net Change in Cash (57.5) 405.9 (12.3) (34.6) (59.0) (8.9) 157.0 (26.9) (19.4) 60.4 (33.0) (35.6) 120.1 (8.5) (26.2) 61.5 (88.9) 26.7 (19.9) (4.7) (36.0) (31.9) 122.3 (26.9) (26.2) (61.8) (43.9) (34.7) 112.8 (35.7) (30.9) 130.9 (32.0) (26.0) (28.9) 67.9 (20.8) (18.7) (12.8) 28.4 (7.8)
Cash at Beginning 605.9 196.2 212.3 246.8 305.8 314.7 157.7 184.6 204.1 143.6 176.6 212.2 92.2 100.6 126.8 65.4 154.2 127.5 147.5 152.2 188.1 220.0 97.7 124.6 150.8 212.7 256.5 291.2 178.4 214.1 245.0 114.1 146.1 168.5 197.4 129.5 150.3 169.0 181.8 153.4 161.2
Cash at End 548.4 602.1 200.0 212.3 246.8 305.8 314.7 157.7 184.6 204.1 143.6 176.6 212.2 92.2 100.6 126.8 65.4 154.2 127.5 147.5 152.2 188.1 220.0 97.7 124.6 150.8 212.7 256.5 291.2 178.4 214.1 245.0 114.1 142.5 168.5 197.4 129.5 150.3 169.0 181.8 153.4
Free Cash Flow (60.0) (32.1) (44.9) (46.3) (63.2) (43.7) (46.9) (27.5) (33.8) (33.6) (34.7) (37.3) 85.0 (33.6) (26.1) (29.3) (40.1) (7.0) (28.3) (9.7) (44.5) (32.0) (20.2) (38.3) (26.8) (62.6) (44.1) (34.5) (50.9) (36.3) (32.4) 69.5 (33.6) (26.8) (29.0) (25.7) (21.1) (16.0) (13.1) (0.5) (7.8)
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 38.2 17.2 7.6 8.7 9.2 83.7 (7.7) 19.7 12.5 29.1 49.2 22.1 12.9 1.2 0.3 0.4 1.8 1.8 36.4 2.8 0 9.4 3.5 3.0 4.2 2.4 2.9 7.6 3.0 3.6 4.5 4.9 1.4 1.7 0.7 0.7 0.7 0.7 0.4 0.4 0 0.2 0 0.1 0.0 0 0 0 0
Gross Profit 38.2 15.0 7.6 6.5 7.0 83.7 (7.7) 19.7 12.5 26.9 17.6 (11.2) (18.1) (29.8) (27.3) (29.4) (25.7) (24.0) 5.3 (28.9) 0 (20.6) (24.8) (28.5) (37.0) (46.7) (41.7) (34.0) (37.1) (36.2) (28.4) (27.7) (27.8) (23.7) (19.4) (18.4) (14.1) (13.3) (13.3) (8.0) (4.7) (3.3) (2.1) (1.7) (1.6) (0.7) (0.6) (0.5) (0.5)
Operating Income (31.3) (56.5) (56.4) (52.8) (49.8) 23.0 (63.9) (35.0) (34.5) (18.7) 4.4 (23.5) (30.3) (43.6) (38.9) (42.2) (38.1) (36.1) (7.6) (39.8) (43.5) (30.3) (34.4) (38.7) (50.0) (60.5) (54.2) (45.6) (48.0) (48.9) (38.2) (36.6) (35.8) (30.6) (27.0) (25.1) (19.9) (18.5) (17.2) (11.6) (8.0) (7.2) (5.0) (3.6) (3.5) (1.8) (1.4) (1.1) (1.1)
Net Income (26.1) (53.2) (53.9) (50.5) (46.9) 29.3 (61.8) (32.9) (31.6) (16.3) 7.3 (21.1) (27.4) (43.7) (39.0) (41.3) (37.8) (34.8) (6.2) (38.8) (42.5) (28.8) (33.1) (40.5) (47.5) (56.8) (50.7) (41.9) (44.2) (37.9) (37.6) (35.9) (35.2) (30.2) (26.1) (24.7) (21.0) (18.5) (17.5) (11.6) (7.8) (7.1) (4.9) (3.7) (3.5) (1.7) (1.4) (1.1) (1.1)
EPS (Diluted) -0.13 -0.30 -0.32 -0.31 -0.29 0.17 -0.47 -0.25 -0.24 -0.15 0.07 -0.20 -0.24 -0.47 -0.42 0.00 -0.62 -0.61 -0.12 -0.78 -0.86 -0.59 -0.86 -1.15 -1.38 -1.65 -1.48 -1.22 -1.36 -1.16 -1.28 -1.23 -1.26 -1.08 -0.94 -0.92 -0.89 -0.78 -0.75 -0.51 -0.36 -0.33 -0.25 -0.18 -0.17 -0.08 -0.07 -0.30 -0.30
Balance Sheet
Cash & Equivalents 544.6 602.1 196.2 208.5 243.1 302.1 310.9 154.0 180.9 200.4 139.9 173.0 207.6 88.5 97.0 123.2 61.7 150.6 123.9 143.8 148.5 184.5 216.4 94.1 120.9 147.2 209.0 252.9 287.6 174.8 210.5 241.4 110.5 142.5 168.5 197.4 129.5 150.3 169.0 181.8 153.4
Total Assets 583.5 638.5 241.4 252.4 288.3 352.2 358.5 208.8 235.3 274.9 199.9 230.0 267.3 146.4 181.5 213.3 167.4 207.0 200.5 206.4 242.6 279.2 310.1 204.0 238.6 284.2 347.2 385.5 430.6 295.9 324.6 353.7 150.4 181.8 202.1 226.4 151.5 164.8 180.0 190.3 158.5
Total Debt 15.7 17.8 19.8 21.7 23.6 25.4 27.2 28.9 30.5 32.1 33.7 35.2 36.6 37.6 38.6 39.5 28.7 29.9 26.6 27.5 28.4 29.3 30.2 31.0 31.8 32.5 33.3 34.0 34.7 10.4 9.2 7.2 4.7 3.5 2.8 2.5 1.3 0.1 0.1 0.1 0.1
Stockholders' Equity 511.7 526.2 124.5 139.3 171.8 209.5 149.5 4.4 25.4 39.6 (40.5) (51.7) (34.7) (45.1) 3.4 30.9 7.8 32.5 29.9 21.8 52.8 90.7 108.2 3.4 28.7 71.6 114.8 160.2 196.9 73.3 106.6 139.3 110.0 139.8 165.9 188.9 117.1 134.9 151.1 166.3 146.5
Cash Flow
Operating Cash Flow (59.6) (32.1) (44.7) (46.0) (63.0) (43.6) (46.5) (27.5) (33.4) (33.2) (34.5) (37.3) 85.5 (33.4) (25.6) (28.8) (39.9) (7.0) (28.2) (9.4) (44.4) (31.4) (20.2) (38.1) (26.2) (61.2) (43.7) (32.9) (50.4) (32.8) (29.0) 71.4 (32.4) (22.8) (23.4) (20.1) (17.4) (13.3) (11.8) 0.4 (7.1)
Capital Expenditure (0.4) 0.0 (0.2) (0.3) (0.2) (0.1) (0.4) (0.1) (0.4) (0.4) (0.2) (0.1) (0.5) (0.2) (0.5) (0.5) (0.2) (0.0) (0.1) (0.3) (0.1) (0.6) (0.1) (0.1) (0.6) (1.3) (0.5) (1.6) (0.5) (3.5) (3.4) (1.9) (1.2) (4.1) (5.6) (5.6) (3.6) (2.7) (1.3) (0.9) (0.7)
Free Cash Flow (60.0) (32.1) (44.9) (46.3) (63.2) (43.7) (46.9) (27.5) (33.8) (33.6) (34.7) (37.3) 85.0 (33.6) (26.1) (29.3) (40.1) (7.0) (28.3) (9.7) (44.5) (32.0) (20.2) (38.3) (26.8) (62.6) (44.1) (34.5) (50.9) (36.3) (32.4) 69.5 (33.6) (26.8) (29.0) (25.7) (21.1) (16.0) (13.1) (0.5) (7.8)