Xenon Pharmaceuticals Inc. logo XENE - Xenon Pharmaceuticals Inc.

Price: -- -- | CONSENSUS: Buy DETAILS
STRONG
BUY
0
BUY 22
HOLD 0
SELL 0
STRONG
SELL
0
| PRICE TARGET: $85.00 DETAILS
HIGH: $100.00
LOW: $60.00
MEDIAN: $89.50
CONSENSUS: $85.00
UPSIDE: 56.91%
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 2012 Q3
Revenue
Revenue 0 0 0 0 7.5 0 0 0 0 0 0 0 0 0 0.1 0.5 8.8 3.7 8.1 2.2 4.4 5.2 6.6 13.4 7.1 3.3 3.5 0 0 6 0 0 0 0.0 0.3 0.0 0.0 0.4 0.4 0.4 0.6 3.2 4.3 4.0 4.0 4.9 13.2 5.3 5.0 5.6 10.8 5.5 5.5 3.0 3.0
Cost of Revenue 0 0.6 77.1 0.6 0 0 0 0 0.6 0 0 0 0 0 29.4 22.1 19.4 21.9 18.9 18.4 16.3 15.0 0 0 0 0 9.8 8.2 9.1 6.4 6 5.4 5.6 6.4 7.2 6.1 5.9 0.0 0.5 0.3 0.3 0.6 0.6 0.7 0.9 1.0 1.8 1.6 1.5 1.8 1.5 1.5 1.5 2.1 2.1
Gross Profit 0 (0.6) (77.1) (0.6) 7.5 0 0 0 (0.6) 0 0 0 0 0 (29.3) (21.6) (10.6) (18.1) (10.8) (16.2) (11.9) (9.8) 6.6 13.4 7.1 3.3 (6.3) (8.2) (9.1) (0.4) (6) (5.4) (5.6) (6.4) (6.9) (6.1) (5.9) 0.4 (0.1) 0.1 0.3 2.7 3.7 3.3 3.1 3.8 11.4 3.7 3.5 3.8 9.3 4.0 4.0 1.0 1.0
Operating Expenses
R&D Expenses 88.5 87.7 77.1 75.0 61.2 59.5 57.0 49.7 44.2 41.1 42.9 44.0 39.5 34.8 29.4 22.1 19.4 21.9 18.9 18.4 16.3 15.0 13.0 10.7 11.8 11.8 9.8 8.2 9.1 6.4 6.2 5.4 5.6 6.4 7.2 6.1 5.9 4.4 6.0 5.1 4.4 4.3 3.8 3.7 3.4 3.5 3.2 2.6 2.5 2.7 2.6 3.5 3.5 2.8 2.8
SG&A Expenses 23.8 22.1 19.3 19.2 19.0 18.0 16.7 19.4 14.2 12.6 12.8 11.6 9.5 8.5 8.8 8.7 6.8 6.7 4.8 6.3 4.1 3.1 3.2 3.3 3.3 3.2 2.7 2.3 2.6 2.0 1.9 2.2 2.2 1.7 1.7 1.8 2.1 1.4 1.8 1.7 1.9 1.6 1.3 0.2 1.8 1.4 1.3 1.4 1.4 0.8 1.7 1.4 1.4 1.7 1.7
Other Expenses 0 (0.6) (77.1) (0.6) 0 0 0 0 0 0 0 0 0 0 (29.4) (22.1) (19.4) (21.9) (18.9) (18.4) (16.3) (15.0) 0 0 0 0 0 0 0 0 0 0 4.4 0 0 0 0 0 0 0 0 0 0 1.0 0 0 0 0 0 0 0 0 0 0 0
Operating Expenses 112.3 109.2 19.3 93.6 80.2 77.5 73.7 69.1 58.4 53.7 55.7 55.6 49.1 43.3 8.8 8.7 6.8 6.7 4.8 6.3 4.1 3.1 16.3 14.0 15.1 14.9 12.5 10.5 11.8 8.4 8.2 7.6 7.8 8.1 8.9 7.9 8.0 5.8 7.7 6.8 6.3 5.8 5.1 3.8 5.2 4.8 4.5 3.9 4.0 3.6 4.3 2.5 2.5 2.4 2.4
Operating Income
Operating Income (112.3) (109.8) (96.3) (94.2) (72.7) (77.5) (73.7) (69.1) (59.0) (53.7) (55.7) (55.6) (49.1) (43.3) (38.1) (30.3) (17.4) (24.8) (15.6) (22.5) (16.1) (12.9) (9.7) (0.6) (8.0) (11.6) (9.0) (10.5) (11.8) (8.4) (14.2) (7.6) (7.8) (8.1) (8.6) (7.9) (8.0) (5.5) (7.3) (6.4) (5.7) (2.6) (0.8) 0.2 (1.2) 0.0 8.7 1.4 1.0 2.0 6.5 0.6 0.6 (1.5) (1.5)
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 0.2 0.3 0.3 0.4 0.4 0.4 0.4 0.7 0.2 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
Interest Income 6.9 6.2 6.2 7.2 8.1 9.4 10.3 10.8 11.4 8.7 7.0 6.5 5.4 4.5 3.1 0.8 0.4 0.3 0.1 0.1 0.1 0.1 0.2 0.9 1.1 0.4 0.5 0.7 0.7 0.7 0.3 0.1 0.1 0.1 0.1 0.1 0.1 0.2 0.1 0.1 0.1 0.1 0.1 0.2 0.2 0.2 0.1 0.1 0.1 0.1 0.1 0.0 0.0 0.0 0.0
Profitability
EBITDA (111.7) (104.1) (89.6) (93.6) (72.1) (76.8) (73.0) (68.5) (58.4) (52.8) (54.0) (55.0) (48.7) (38.9) (37.8) (29.9) (17.0) (24.6) (15.4) (22.3) (15.9) (12.7) (8.9) 0.1 (7.1) (10.9) (8.4) (9.6) (10.9) (8.1) (13.6) (7.4) (3.4) (7.9) (7.6) (7.7) (7.8) (5.3) (7.2) (6.1) (5.4) (2.3) (0.6) 0.5 (5.9) 0.2 8.8 1.6 1.2 2.2 6.7 0.8 0.8 (1.4) (1.4)
EBIT (112.3) (104.7) (90.2) (94.2) (72.7) (77.5) (73.7) (69.1) (59.0) (53.7) (55.7) (55.6) (49.1) (39.4) (38.1) (30.3) (17.4) (24.8) (15.6) (22.5) (16.1) (12.9) (9.1) (0.1) (7.2) (11.1) (8.5) (9.7) (10.9) (8.2) (13.7) (7.6) (3.6) (8.1) (7.7) (7.9) (8.0) (5.5) (7.3) (6.4) (5.7) (2.6) (0.8) 0.2 (6.1) 1.2 8.7 1.4 1.0 2.5 6.4 0.6 0.6 (1.5) (1.5)
Income Before Tax (104.9) (104.7) (90.2) (85.3) (64.6) (69.5) (63.1) (58.3) (47.5) (44.9) (48.6) (47.7) (41.4) (36.3) (37.7) 31.2 (20.1) (25.1) (15.7) (22.3) (15.8) 12.3 (9.1) (0.2) (7.5) (11.4) (8.9) (10.0) (11.3) (8.6) (14.4) (7.8) (3.8) (8.1) (7.7) (7.4) (7.5) (6.0) (7.7) (6.0) (3.3) (3.9) (3.8) 1.2 (4.2) 1.2 9.2 1.2 1.4 2.5 6.4 1.6 1.6 (1.4) (1.4)
Income Tax Expense (2.6) 0.5 0.7 (0.6) 0.4 (3.8) (0.3) (0.3) 0.4 (0.2) (0.2) (0.2) 0.3 1.1 (0.6) 0.0 (0.4) 0.5 (0.2) (0.2) (0.1) 0.0 (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 3.0 0 0 0 0 0.0 0.0 1.6 1.6 0 0
Net Income (102.3) (105.3) (90.9) (84.7) (65.0) (65.7) (62.8) (57.9) (47.9) (44.7) (48.5) (47.5) (41.7) (37.4) (37.1) (31.2) (19.7) (25.6) (15.4) (22.1) (15.8) (12.3) (8.9) (0.2) (7.5) (11.4) (8.9) (10.0) (11.3) (8.6) (14.4) (7.8) (3.8) (8.1) (7.7) (7.4) (7.5) (6.0) (7.7) (6.0) (3.3) (3.9) (3.8) 1.2 (4.2) 1.2 9.2 1.2 1.4 2.5 6.4 0 0 (1.4) (1.4)
Per Share Data
EPS (Basic) -1.17 -1.31 -1.15 -1.07 -0.83 -0.84 -0.81 -0.75 -0.62 -0.64 -0.73 -0.72 -0.63 -0.57 -0.59 -0.55 -0.37 -0.62 -0.37 -0.53 -0.43 -0.35 -0.25 -0.01 -0.23 -0.34 -0.39 -0.44 -0.34 -0.71 -0.55 -0.22 -0.45 -0.43 -0.41 -0.42 -0.33 -0.51 -0.42 -0.23 -0.27 -0.27 0.08 -0.30 0.09 0.26 0.14 0.15 0.28 0.99 -1.07 -1.07
EPS (Diluted) -1.17 -1.31 -1.15 -1.07 -0.83 -0.84 -0.81 -0.75 -0.62 -0.64 -0.73 -0.72 -0.63 -0.57 -0.57 -0.55 -0.36 -0.62 -0.37 -0.53 -0.43 -0.33 -0.25 -0.01 -0.23 -0.34 -0.39 -0.44 -0.33 -0.71 -0.55 -0.21 -0.45 -0.43 -0.41 -0.42 -0.33 -0.51 -0.42 -0.23 -0.27 -0.27 -0.07 -0.30 0.09 0.26 0.13 0.14 0.26 0.63 -1.07 -1.07
Shares Outstanding 87.3 79.3 79.2 79.0 78.7 78.4 77.9 77.7 77.6 70.0 66.0 65.9 65.7 65.7 62.5 56.2 53.1 41.2 41.2 42.1 36.8 35.0 35.0 35.0 33.2 0 25.8 25.8 25.8 25.3 20.3 14.3 17.0 17.8 18.0 18.0 17.9 17.9 15.1 14.4 14.2 14.4 14.3 14.2 14.2 14.2 13.6 9.1 9.1 9.1 1.3 1.3 1.3 1.3 1.3
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
Current Assets
Cash & Cash Equivalents 545.9 199.2 104.5 135.4 116.7 142.7 87.6 136.7 58.9 148.6 99.6 64.6 69.5 57.2 103.5 370.0 116.5 175.7 87.8 82.9 88.0 45.0 15.1 44.2 60.5 24.8 37.7 37.1 52.2 67.8 88.0 47.4 17.2 20.5 14.7 23.1 20.2 17.1 54.1 35.2 56.1
Short-Term Investments 548.9 349.7 357.8 352.2 433.0 484.2 566.4 584.8 640.7 489.4 427.1 475.0 457.5 534.8 534.7 418.3 421.4 376.1 161.8 177.6 186.7 132.0 175.8 158.6 169.2 116.6 56.9 64.7 58.2 51.6 39.2 15.8 17.9 23.2 29.1 28.6 37.9 47.1 15.4 15.5 0
Net Receivables 1.2 1.4 0.8 1.1 8.6 1.5 0.9 0.9 0.8 0.9 0.8 2.1 2.2 1.0 2.5 2.5 2.9 2.8 3.2 2.9 5.1 1.8 1.6 1.8 1.6 0.8 0.2 0.2 0.1 0.3 0.2 0.2 0.4 0.4 0.1 0.2 0.2 0.2 0.6 0.7 0.4
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 10.7 10.4 17.1 11.6 7.3 6.9 4.7 5.7 6.8 6.0 3.5 2.9 4.1 7.2 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
Total Current Assets 1,106.6 560.6 480.1 500.3 565.5 635.3 659.6 728.1 707.2 645.0 531.0 544.6 533.4 600.3 649.2 794.8 545.6 559.0 256.3 266.8 283.3 181.8 194.8 207.0 233.9 144.9 96.5 103.3 112.0 121.4 129.5 64.3 36.7 44.8 45.0 52.6 59.1 65.7 71.3 53.4 58.3
Non-Current Assets
Property, Plant & Equipment 0 15.3 15.8 16.5 17.3 18.2 18.4 18.7 18.3 18.8 19.7 19.4 18.1 16.9 12.1 12.3 12.2 12.5 7.2 7.4 6.9 6.9 3.8 3.4 3.0 2.6 2.2 2.5 2.4 1.0 1.0 1.1 1.1 1.1 1.2 1.3 1.4 1.4 1.5 1.7 1.8
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 244.9 37.2 93.0 137.3 141.5 127.5 149.3 129.1 185.8 292.8 112.4 112.6 160.3 128.7 114.0 0 0 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 Assets 35.3 7.2 7.1 9.2 8.1 7.5 7.5 7.4 7.3 7.4 7.3 7.9 8.0 7.8 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0.2 0.2 0.3 0.3 0.4 0.5 0.6 1.1
Total Non-Current Assets 280.2 421.0 127.7 174.0 177.7 162.9 176.3 155.9 211.8 319.8 140.1 140.3 186.5 153.8 126.6 12.6 12.4 13.0 8.0 8.0 7.4 7.4 4.3 3.7 3.2 2.8 2.4 2.6 2.5 1.0 1.0 1.1 1.1 1.3 1.4 1.6 1.6 1.8 2.0 2.3 2.9
Total Assets 1,386.8 981.7 607.8 674.3 743.3 798.1 835.9 884.0 919.0 964.8 671.1 684.9 719.9 754.1 775.8 807.4 558.1 572.0 264.4 274.7 290.7 189.2 199.1 210.7 237.0 147.7 98.9 105.9 114.5 122.4 130.5 65.4 37.8 46.1 46.4 54.2 60.8 67.5 73.4 55.7 61.2
Current Liabilities
Account Payables 5.7 3.9 4.6 4.8 6.9 5.1 5.4 9.5 6.4 8.6 6.1 12.0 11.4 8.5 3.1 3.2 1.7 3.8 3.1 3.3 2.1 3.0 2.2 1.6 3.2 2.5 1.4 1.5 1.1 0.7 1.0 0.9 0.5 1.3 0.8 1.3 1.2 1.5 0.5 0.7 1.0
Short-Term Debt 0 1.5 1.5 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 15.7 4.7 3.6 2.1 0 0 0 0 1.4 0.7 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 2.2 3.0 3.6 3.6 7.4 12.7 24.6 29.7 0 0 4.1 (15.0) (14.9) (11.7) 0 0 0 0 0 0 0 0 0
Other Current Liabilities 32.2 21.6 21.0 8.5 5.0 9.9 8.9 14.2 10.7 10.0 5.9 4.9 2.7 5.8 4.2 3.3 2.1 4.0 3.5 5.5 4.1 5.0 4.0 4.3 3.9 3.5 4.5 0.1 3.9 1.7 2.3 1.4 1.3 0.0 1.3 1.5 1.9 0.1 2.5 0.0 0.0
Total Current Liabilities 39.8 41.8 38.3 33.0 32.0 35.6 29.7 31.3 22.2 27.3 24.7 28.2 22.5 22.7 15.5 13.7 8.0 14.3 12.9 15.0 11.5 14.8 16.9 21.1 48.5 43.4 11.7 9.3 6.4 4.1 4.4 3.1 3.8 4.1 3.1 3.8 3.6 3.5 4.0 2.9 2.9
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 10.9 11.8 13.2 15.1 15.0 14.9 11.7 5.5 6.1 0 0 0 0 0 0 0
Deferred Tax Liabilities 0 348.5 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 0 0 0 0 0 0 0 0
Other Non-Current Liabilities 3.2 3.2 3.2 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 0 0 0 0 0 0.1 0.1 0.1
Total Non-Current Liabilities 9.2 358.1 10.0 7.3 7.3 7.6 8.4 8.7 9.1 9.6 9.8 10.3 10.4 9.9 7.2 7.9 8.2 7.7 2.6 2.7 2.9 3.0 0.2 0.3 0.5 12.3 12.6 13.8 15.9 15.0 14.9 11.7 5.5 6.1 0 0 0 0.1 0.1 0.1 0.1
Total Liabilities 49.0 399.9 48.3 40.3 39.3 43.2 38.1 40.0 31.3 36.9 34.5 38.4 32.9 32.6 22.7 21.6 16.2 22.0 15.4 17.7 14.4 17.8 17.1 21.4 49.1 55.7 24.3 23.1 22.2 19.1 19.3 14.8 9.3 10.2 3.1 3.8 3.6 3.6 4.1 3.0 3.0
Stockholders' Equity
Common Stock 2,421.8 1,598.6 1,475.4 1,469.2 1,460.8 1,456.8 1,441.8 1,440.5 1,439.0 1,436.4 1,122.0 1,083.0 1,073.2 1,065.1 1,064.7 1,061.7 800.3 783.2 504.4 499.4 498.3 397.7 397.7 397.7 397.3 294.2 266.4 266.1 266.0 265.9 261.7 177.0 147.9 173.8 173.8 173.8 173.8 173.2 172.9 148.9 148.7
Retained Earnings (1,347.7) (1,245.4) (1,140.1) (1,049.2) (964.5) (899.5) (833.8) (771.0) (713.1) (665.1) (620.4) (571.9) (524.5) (482.7) (445.4) (408.2) (377.0) (357.4) (331.8) (316.4) (294.3) (278.5) (266.2) (257.3) (257.1) (249.7) (238.3) (229.4) (219.4) (207.9) (199.3) (184.9) (177.1) (173.4) (165.3) (157.6) (150.2) (142.7) (136.7) (129.0) (123.0)
Accumulated Other Comprehensive Income (1.2) 0.3 0.5 0.1 (0.8) (1.6) 1.3 (2.2) (1.8) (0.1) (3.0) (3.3) (1.8) (3) (3.0) (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)
Total Stockholders' Equity 1,337.8 581.8 559.5 634.0 704.0 754.9 797.8 844.0 887.7 927.9 636.6 646.5 686.9 721.5 753.1 785.8 541.9 550.0 248.9 257.0 276.3 171.4 182.0 189.3 188.0 92.0 74.6 82.8 92.3 103.3 111.2 50.6 28.5 35.9 43.3 50.5 57.2 63.9 69.3 52.7 58.2
Total Liabilities & Equity 1,386.8 981.7 607.8 674.3 743.3 798.1 835.9 884.0 919.0 964.8 671.1 684.9 719.9 754.1 775.8 807.4 558.1 572.0 264.4 274.7 290.7 189.2 199.1 210.7 237.0 147.7 98.9 105.9 114.5 122.4 130.5 65.4 37.8 46.1 46.4 54.2 60.8 67.5 73.4 55.7 61.2
Debt Metrics
Total Debt 7.5 7.9 8.3 8.7 8.7 9.0 9.8 10.0 10.4 10.9 11.0 11.5 11.6 10.4 7.2 7.9 8.2 8.3 3.2 3.5 3.2 3.3 0.8 0.9 16.4 16.4 16.4 16.4 16.4 15.0 14.9 11.7 6.9 6.8 0 0 0 0 0 0 0
Net Debt (538.4) (191.2) (96.2) (126.7) (108.0) (133.7) (77.8) (126.7) (48.5) (137.7) (88.6) (53.0) (57.9) (46.8) (96.3) (362.1) (108.3) (167.4) (84.6) (79.4) (84.8) (41.7) (14.3) (43.3) (44.1) (8.3) (21.3) (20.6) (35.7) (52.7) (73.1) (35.7) (10.3) (13.7) (14.7) (23.1) (20.2) (17.1) (54.1) (35.2) (56.1)
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
Operating Activities
Net Income (102.3) (105.3) (90.9) (84.7) (65.0) (65.7) (62.8) (57.9) (47.9) (44.7) (48.5) (47.5) (41.7) (37.4) (37.1) (31.2) (19.7) (25.6) (15.4) (22.1) (15.8) (12.3) (8.9) (0.2) (7.5) (11.4) (8.9) (10.0) (11.3) (8.6) (14.4) (7.8) (3.8) (8.1) (7.7) (7.4) (7.5) (6.0) (7.7) (6.0) (3.3)
Depreciation & Amortization 0.6 0.6 0.6 0.6 0.7 0.6 0.7 0.7 0.6 0.9 1.7 0.6 0.4 0.5 0.4 0.4 0.4 0.3 0.2 0.2 0.2 0.2 0.2 0.2 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.2 0.1 0.1 0.2 0.2 0.2 0.2 0.2 0.2 0.3
Stock-Based Compensation 16.9 14.1 13.7 13.7 12.2 13.6 13.0 14.7 9.4 9.2 8.7 8.5 6.0 5.8 5.7 5.2 3.6 2.7 2.6 2.7 2.0 1.6 0 0 1.0 1.4 0.6 0.5 0.5 0.6 0.7 0.7 0.7 0.6 0.6 0.6 0.5 0.5 0.6 0.4 0.6
Change in Working Capital (3.4) 9.0 (0.3) 2.6 (12.2) 2.2 (0.3) 0.9 (5.9) (0.5) (3.3) 6.9 2.6 1.1 (2.4) 6.9 (6.2) 1.0 (2.6) 5.9 (7.0) (2.8) (4.3) (12.2) (7.1) 29.7 1.0 0.9 2.0 0.1 (0.0) 1.2 (1.2) 0.4 (0.9) 0.3 0.7 (0.0) 1.9 0.2 (0.3)
Other Non-Cash Items (1.1) 1.1 5.1 3.7 4.0 3.5 0.1 9.3 (2.7) (0.0) (0.8) (1.5) (1.9) (2.7) 3.3 1.9 3.2 0.5 0.4 0.2 (0.1) 0.2 1.2 1.9 0.4 (0.0) 0.2 (0.1) 0.1 0.1 (0.0) 0.1 (4.3) 0.6 0.6 0.6 0.5 (0.0) (0.0) (0.0) (0.0)
Operating Cash Flow (88.9) (81.5) (71.8) (64.2) (61.7) (54.4) (49.7) (32.7) (46.2) (35.5) (42.2) (33.2) (34.4) (32.7) (30.4) (16.9) (18.4) (20.7) (15.0) (13.1) (20.7) (13.1) (12.0) (10.4) (13.1) 19.7 (7.1) (8.6) (8.7) (7.2) (13.7) (5.5) (8.2) (6.8) (8.6) (6.8) (6.5) (4.7) (4.5) (5.4) (4.9)
Investing Activities
Capital Expenditure (0.1) (0.3) (0.3) (0.2) (0.0) (0.8) (0.6) (1.5) (0.2) (0.1) (1.2) (2.1) (2.2) (1.8) (0.4) (0.5) (0.2) (0.5) (0.2) (0.9) (0.4) (0.8) (0.8) (0.4) (0.6) (0.6) (0.0) (0.3) (0.3) (0.2) (0.0) (0.1) (0.2) (0.1) (0.0) (0.1) (0.1) (0.0) (0.0) (0.1) (0.1)
Acquisitions 0 0 0 0 0 0 0 0 0 0 (49.2) (30.0) 0 0 0 0 (20.3) (144.8) 0 0 (46.0) 0 0 0 (55.2) (75.4) 0 0 (27.6) (48.5) 0 0 (13.3) (74.9) 0 0 0 0 0 0 0
Purchases of Investments (505.7) (60.9) (74.7) (88.8) (131.2) (66.4) (164.1) (125.0) (176.8) (376.6) (146.8) (162.3) (108.3) (114.7) (294.8) (72.7) (69.0) (257.2) (10.0) (21.6) (100.7) (15.3) (71.8) (37.2) (107.5) (64.4) (11.9) (29.9) (34.3) (26.9) (32.2) (9.8) (8.1) (5.7) 0 0 0 (32.2) (0.1) 0 0
Sales/Maturities of Investments 98.5 337.0 113.5 171.2 165.8 165.6 165.2 237.2 133.8 136.9 196.0 192.3 157.1 102.2 61.0 74.5 20.3 42.3 25.8 30.7 46.0 59.4 53.2 49.1 55.2 4.8 19.7 23.4 27.6 14.5 8.9 11.8 13.3 11.6 (0.1) 31.7 9.4 0 0 0 0
Other Investing Activities 0 (213.1) 0 0 0 0 0 0 0 0 49.2 30.0 0 0 0 0 20.3 144.8 0 0 46.0 0 0 0 55.2 75.4 7.8 (6.4) 27.6 48.5 (23.3) 2.1 13.3 74.9 (0.1) (22.3) 9.4 (32.2) (0.1) (15.3) 0
Investing Cash Flow (407.3) 62.7 38.5 82.3 34.5 98.5 0.5 110.7 (43.2) (239.7) 48.0 27.9 46.6 (14.3) (234.1) 1.3 (48.9) (215.4) 15.6 8.2 (55.1) 43.2 (19.5) 11.5 (52.9) (60.3) 7.7 (6.7) (7.0) (12.6) (23.3) 1.9 5.0 5.8 (0.1) 9.3 9.2 (32.2) (0.1) (15.4) (0.1)
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 (0.5) (16.5) 0 0 0 0 0 0 3.5 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) (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 0.1 0.1 0.0 0 0 0.0 0.0 0.0 0.0 0.1 0.0 0.1 5.2 0 6.9 0 0 0 0.0 0.1 0 0
Financing Cash Flow 843.0 113.5 2.4 0.1 1.2 12.1 0 0 0 324.0 29.5 0 0 0.0 0.7 269.9 7.9 324.0 4.8 0.1 118.7 0.0 2.4 (18.0) 102.5 27.4 0.0 0.0 0.1 0.0 77.4 34.0 0.1 6.9 0 0.0 0.2 0.0 23.8 0.0 0.0
Cash Position
Net Change in Cash 346.7 94.6 (30.9) 18.7 (26.1) 55.1 (49.1) 77.8 (89.7) 49.1 35.0 (5.0) 12.3 (46.2) (266.5) 253.4 (59.1) 87.9 4.9 (5.1) 43.0 29.9 (29.1) (16.3) 35.8 (12.9) 0.6 (15.1) (15.6) (20.2) 40.5 30.2 (3.3) 5.8 (8.4) 2.9 3.1 (37.0) 18.9 (20.9) (2.6)
Cash at Beginning 199.2 104.5 135.4 116.7 142.7 87.6 136.7 58.9 148.6 99.6 64.6 69.5 57.2 103.5 370.0 116.5 175.7 87.8 82.9 88.0 45.0 15.1 44.2 60.5 24.8 37.7 37.1 52.2 67.8 88.0 47.4 17.2 20.5 14.7 23.1 20.2 17.1 54.1 35.2 56.1 58.7
Cash at End 545.9 199.2 104.5 135.4 116.7 142.7 87.6 136.7 58.9 148.6 99.6 64.6 69.5 57.2 103.5 370.0 116.5 175.7 87.8 82.9 88.0 45.0 15.1 44.2 60.5 24.8 37.7 37.1 52.2 67.8 88.0 47.4 17.2 20.5 14.7 23.1 20.2 17.1 54.1 35.2 56.1
Free Cash Flow (89.0) (81.8) (72.0) (64.4) (61.7) (55.2) (50.3) (34.2) (46.4) (35.5) (43.4) (35.4) (36.6) (34.5) (30.8) (17.4) (18.6) (21.2) (15.2) (14.0) (21.1) (13.9) (12.8) (10.8) (13.7) 19.1 (7.1) (8.9) (9.0) (7.4) (13.7) (5.7) (8.4) (6.9) (8.6) (6.9) (6.6) (4.7) (4.6) (5.6) (5.0)
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 2013 Q4 2013 Q3 2013 Q2 2013 Q1 2012 Q4 2012 Q3
Income Statement
Revenue 0 0 0 0 7.5 0 0 0 0 0 0 0 0 0 0.1 0.5 8.8 3.7 8.1 2.2 4.4 5.2 6.6 13.4 7.1 3.3 3.5 0 0 6 0 0 0 0.0 0.3 0.0 0.0 0.4 0.4 0.4 0.6 3.2 4.3 4.0 4.0 4.9 13.2 5.3 5.0 5.6 10.8 5.5 5.5 3.0 3.0
Gross Profit 0 (0.6) (77.1) (0.6) 7.5 0 0 0 (0.6) 0 0 0 0 0 (29.3) (21.6) (10.6) (18.1) (10.8) (16.2) (11.9) (9.8) 6.6 13.4 7.1 3.3 (6.3) (8.2) (9.1) (0.4) (6) (5.4) (5.6) (6.4) (6.9) (6.1) (5.9) 0.4 (0.1) 0.1 0.3 2.7 3.7 3.3 3.1 3.8 11.4 3.7 3.5 3.8 9.3 4.0 4.0 1.0 1.0
Operating Income (112.3) (109.8) (96.3) (94.2) (72.7) (77.5) (73.7) (69.1) (59.0) (53.7) (55.7) (55.6) (49.1) (43.3) (38.1) (30.3) (17.4) (24.8) (15.6) (22.5) (16.1) (12.9) (9.7) (0.6) (8.0) (11.6) (9.0) (10.5) (11.8) (8.4) (14.2) (7.6) (7.8) (8.1) (8.6) (7.9) (8.0) (5.5) (7.3) (6.4) (5.7) (2.6) (0.8) 0.2 (1.2) 0.0 8.7 1.4 1.0 2.0 6.5 0.6 0.6 (1.5) (1.5)
Net Income (102.3) (105.3) (90.9) (84.7) (65.0) (65.7) (62.8) (57.9) (47.9) (44.7) (48.5) (47.5) (41.7) (37.4) (37.1) (31.2) (19.7) (25.6) (15.4) (22.1) (15.8) (12.3) (8.9) (0.2) (7.5) (11.4) (8.9) (10.0) (11.3) (8.6) (14.4) (7.8) (3.8) (8.1) (7.7) (7.4) (7.5) (6.0) (7.7) (6.0) (3.3) (3.9) (3.8) 1.2 (4.2) 1.2 9.2 1.2 1.4 2.5 6.4 0 0 (1.4) (1.4)
EPS (Diluted) -1.17 -1.31 -1.15 -1.07 -0.83 -0.84 -0.81 -0.75 -0.62 -0.64 -0.73 -0.72 -0.63 -0.57 -0.57 -0.55 -0.36 -0.62 -0.37 -0.53 -0.43 -0.33 -0.25 -0.01 -0.23 -0.34 -0.39 -0.44 -0.33 -0.71 -0.55 -0.21 -0.45 -0.43 -0.41 -0.42 -0.33 -0.51 -0.42 -0.23 -0.27 -0.27 -0.07 -0.30 0.09 0.26 0.13 0.14 0.26 0.63 -1.07 -1.07
Balance Sheet
Cash & Equivalents 545.9 199.2 104.5 135.4 116.7 142.7 87.6 136.7 58.9 148.6 99.6 64.6 69.5 57.2 103.5 370.0 116.5 175.7 87.8 82.9 88.0 45.0 15.1 44.2 60.5 24.8 37.7 37.1 52.2 67.8 88.0 47.4 17.2 20.5 14.7 23.1 20.2 17.1 54.1 35.2 56.1
Total Assets 1,386.8 981.7 607.8 674.3 743.3 798.1 835.9 884.0 919.0 964.8 671.1 684.9 719.9 754.1 775.8 807.4 558.1 572.0 264.4 274.7 290.7 189.2 199.1 210.7 237.0 147.7 98.9 105.9 114.5 122.4 130.5 65.4 37.8 46.1 46.4 54.2 60.8 67.5 73.4 55.7 61.2
Total Debt 7.5 7.9 8.3 8.7 8.7 9.0 9.8 10.0 10.4 10.9 11.0 11.5 11.6 10.4 7.2 7.9 8.2 8.3 3.2 3.5 3.2 3.3 0.8 0.9 16.4 16.4 16.4 16.4 16.4 15.0 14.9 11.7 6.9 6.8 0 0 0 0 0 0 0
Stockholders' Equity 1,337.8 581.8 559.5 634.0 704.0 754.9 797.8 844.0 887.7 927.9 636.6 646.5 686.9 721.5 753.1 785.8 541.9 550.0 248.9 257.0 276.3 171.4 182.0 189.3 188.0 92.0 74.6 82.8 92.3 103.3 111.2 50.6 28.5 35.9 43.3 50.5 57.2 63.9 69.3 52.7 58.2
Cash Flow
Operating Cash Flow (88.9) (81.5) (71.8) (64.2) (61.7) (54.4) (49.7) (32.7) (46.2) (35.5) (42.2) (33.2) (34.4) (32.7) (30.4) (16.9) (18.4) (20.7) (15.0) (13.1) (20.7) (13.1) (12.0) (10.4) (13.1) 19.7 (7.1) (8.6) (8.7) (7.2) (13.7) (5.5) (8.2) (6.8) (8.6) (6.8) (6.5) (4.7) (4.5) (5.4) (4.9)
Capital Expenditure (0.1) (0.3) (0.3) (0.2) (0.0) (0.8) (0.6) (1.5) (0.2) (0.1) (1.2) (2.1) (2.2) (1.8) (0.4) (0.5) (0.2) (0.5) (0.2) (0.9) (0.4) (0.8) (0.8) (0.4) (0.6) (0.6) (0.0) (0.3) (0.3) (0.2) (0.0) (0.1) (0.2) (0.1) (0.0) (0.1) (0.1) (0.0) (0.0) (0.1) (0.1)
Free Cash Flow (89.0) (81.8) (72.0) (64.4) (61.7) (55.2) (50.3) (34.2) (46.4) (35.5) (43.4) (35.4) (36.6) (34.5) (30.8) (17.4) (18.6) (21.2) (15.2) (14.0) (21.1) (13.9) (12.8) (10.8) (13.7) 19.1 (7.1) (8.9) (9.0) (7.4) (13.7) (5.7) (8.4) (6.9) (8.6) (6.9) (6.6) (4.7) (4.6) (5.6) (5.0)