Income Statement

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Year Ending Dec 2025 (Update) Year Ending Dec 2024 (Update) Year Ending Dec 2023 (Update) Year Ending Dec 2022 (Update)
Net Sales 901.31 782.12 557.72 388.83
Revenue 901.31 782.12 557.72 388.83
Total Revenue 901.31 782.12 557.72 388.83
Cost of Revenue 501.24 390.56 281.51 205.22
Cost of Revenue, Total 501.24 390.56 281.51 205.22
Gross Profit 400.07 391.55 276.22 183.62
Selling/General/Administrative Expense 122.20 102.00 70.19 57.71
Labor & Related Expense 23.45 33.08 17.47 4.65
Selling/General/Administrative Expenses, Total 145.65 135.08 87.67 62.35
Research & Development 144.99 105.47 92.71 62.23
Total Operating Expense 791.88 631.12 461.88 329.80
Operating Income 109.43 151.00 95.84 59.04
Interest Expense - Non-Operating -6.96 -4.15 -2.68 -1.66
Interest Expense, Net Non-Operating -6.96 -4.15 -2.68 -1.66
Interest Income, Non-Operating 14.64 9.94 8.35 8.74
Investment Income, Non-Operating 27.91 3.18 16.26 -2.07
Interest/Investment Income, Non-Operating 42.55 13.12 24.62 6.67
Interest Income (Expense), Net-Non-Operating, Total 35.60 8.97 21.94 5.01
Other Non-Operating Income (Expense) -9.83 6.33 -1.56 3.32
Other, Net -9.83 6.33 -1.56 3.32
Net Income Before Taxes 135.19 166.30 116.22 67.36
Income Tax – Total 13.30 35.03 19.36 16.80
Income After Tax 121.89 131.27 96.85 50.56
Minority Interest -27.82 -27.64 -19.50 -11.30
Net Income Before Extraordinary Items 94.08 103.63 77.35 39.26
Net Income 94.08 103.63 77.35 39.26
Miscellaneous Earnings Adjustment
Total Adjustments to Net Income
Income Available to Common Excluding Extraordinary Items 94.08 103.63 77.35 39.26
Income Available to Common Stocks Including Extraordinary Items 94.08 103.63 77.35 39.26
Basic Weighted Average Shares 64.18 62.21 60.16 59.24
Basic EPS Excluding Extraordinary Items 1.47 1.67 1.29 0.66
Basic EPS Including Extraordinary Items 1.47 1.67 1.29 0.66
Dilution Adjustment
Diluted Net Income 94.08 103.63 77.35 39.26
Diluted Weighted Average Shares 67.31 66.24 64.87 65.34
Diluted EPS Excluding Extraordinary Items 1.40 1.56 1.19 0.60
Diluted EPS Including Extraordinary Items 1.40 1.56 1.19 0.60
DPS - Common Stock Primary Issue
Gross Dividends - Common Stock 0.00 0.00 0.00 0.00
Normalized Income Before Taxes 135.19 166.30 116.22 67.36
Income Taxes Excluding Impact of Special Items 13.30 35.03 19.36 16.80
Normalized Income After Taxes 121.89 131.27 96.85 50.56
Normalized Income Available to Common 94.08 103.63 77.35 39.26
Basic Normalized EPS 1.47 1.67 1.29 0.66
Diluted Normalized EPS 1.40 1.56 1.19 0.60
Depreciation, Supplemental 16.33 9.97 8.09 5.37
Interest Expense, Supplemental 6.96 4.15 2.68 1.66
Rental Expense, Supplemental 4.54 3.82 3.58 2.82
Stock-Based Compensation, Supplemental 33.58 49.58 27.34 7.73
Equity in Affiliates, Supplemental 10.29 0.42 9.95 4.67
Minority Interest, Supplemental -27.82 -27.64 -19.50 -11.30
Research & Development Expense, Supplemental 144.99 105.47 92.71 62.23
Audit-Related Fees, Supplemental 1.68 1.61 1.25 1.80
Audit-Related Fees
Tax Fees, Supplemental 0.11 0.12 0.06
Gross Margin 44.39 50.06 49.53 47.22
Operating Margin 12.14 19.31 17.18 15.18
Pretax Margin 15.00 21.26 20.84 17.32
Effective Tax Rate 9.84 21.06 16.66 24.94
Net Profit Margin 10.44 13.25 13.87 10.10
Normalized EBIT 109.43 151.00 95.84 59.04
Normalized EBITDA 125.76 160.97 103.93 64.40
Current Tax - Domestic 8.63 0.49 12.91 0.50
Current Tax - Foreign 19.63 29.12 19.70 11.14
Current Tax - Total 28.27 29.61 32.60 11.64
Deferred Tax - Domestic -0.65 5.31 -7.38 10.92
Deferred Tax - Foreign -14.31 0.12 -5.86 -5.76
Deferred Tax - Total -14.97 5.43 -13.24 5.16
Other Tax 35.03 19.36 16.80
Income Tax - Total 13.30 35.03 19.36 16.80

In millions of USD (except for per share items)

Source: LSEG