1.Sales and profit
See section β- Revolution Medicines, Inc. had $0.0M of revenue in fiscal 2025.
- Revolution Medicines, Inc. lost $1.1B in fiscal 2025.
Revolution Medicines, Inc.
RVMD Nasdaq Biological Products, (No Diagnostic Substances) Financials FY2018βFY2025
Revolution Medicines, Inc. had $0.0M of revenue in fiscal 2025.
Last close Β· Oct 23, 2026
$186.99
0.4%KIRAβs summary AI analyst
Hi! I read Revolution Medicines, Inc.βs latest annual report (fiscal 2025). Here is what stands out:
3 to watch
2.Cash and shareholders
See section β- Free cash flow was β$914M in fiscal 2025, β of revenue.
- In the last 12 months, insiders sold $154M of shares on the open market and bought none.
3.Financial health
See section β- Revolution Medicines, Inc. passes 1 of 7 financial health tests (Piotroski F-score).
Revolution Medicines, Inc. in 30 seconds
Good So-so Weak
Weak
Does it make a profit?
β$1.1B
No. It lost money last year.
Weak
How healthy are the accounts?
1 / 7
Weak. It passes 1 of 7 health tests.
For information
How is the share priced?
β
No P/E: it made no profit over the last four quarters.
Rules of thumb on reported numbers. A starting point, not a recommendation.
Key numbers, fiscal 2025
Market cap
Last close times the latest diluted share count, so it is approximate.
$39.4B
Oct 23 close
P/E
Last close divided by diluted earnings per share over the last four quarters.
β
On β$8.86 EPS (TTM)
Charts by
Sales and profit
Is it selling more, and how much does it keep?
Revenue and margins
KIRA Β· Revolution Medicines, Inc. had $0.0M of revenue in fiscal 2025.
In plain words: Revenue is all the money customers paid. The margins show how many cents of each dollar of sales are left over at each step: after making the product (gross), after running the business (operating) and after everything, tax included (net).
Revenue
FY18
Revenue $20.2M
FY19
Revenue $50.0M
FY20
Revenue $43.0M
FY21
Revenue $29.4M
FY22
Revenue $35.4M
FY23
Revenue $11.6M
FY24
Revenue $0.0M
FY25
Revenue $0.0M
Revenue
Q3 '23
Revenue $0.0M
Q4 '23
Revenue $0.7M
Q1 '24
Revenue $0.0M
Q2 '24
Revenue $0.0M
Q3 '24
Revenue $0.0M
Q4 '24
Revenue $0.0M
Q1 '25
Revenue β
Q2 '25
Revenue β
Q3 '25
Revenue β
Q4 '25
Revenue β
Q1 '26
Revenue β
Q2 '26
Revenue β
Margins, % of revenue
FY18
Gross β
Operating β200.0%
Net β207.2%
FCF β1.4%
FY19
Gross β
Operating β108.2%
Net β95.2%
FCF β104.3%
FY20
Gross β
Operating β257.5%
Net β251.6%
FCF β239.6%
FY21
Gross β
Operating β639.7%
Net β636.6%
FCF β523.0%
FY22
Gross β
Operating β730.0%
Net β703.0%
FCF β664.8%
FY23
Gross β
Operating β4,207.1%
Net β3,768.3%
FCF β3,094.1%
FY24
Gross β
Operating β
Net β
FCF β
FY25
Gross β
Operating β
Net β
FCF β
Gross
Operating
Net
FCF
Margins, % of revenue
Q3 '23
Gross β
Operating β
Net β
FCF β
Q4 '23
Gross β
Operating β24,256.5%
Net β21,770.5%
FCF β16,560.6%
Q1 '24
Gross β
Operating β
Net β
FCF β
Q2 '24
Gross β
Operating β
Net β
FCF β
Q3 '24
Gross β
Operating β
Net β
FCF β
Q4 '24
Gross β
Operating β
Net β
FCF β
Q1 '25
Gross β
Operating β
Net β
FCF β
Q2 '25
Gross β
Operating β
Net β
FCF β
Q3 '25
Gross β
Operating β
Net β
FCF β
Q4 '25
Gross β
Operating β
Net β
FCF β
Q1 '26
Gross β
Operating β
Net β
FCF β
Q2 '26
Gross β
Operating β
Net β
FCF β
Gross
Operating
Net
FCF
Net income and earnings per share
KIRA Β· Revolution Medicines, Inc. lost $1.1B in fiscal 2025.
Loss periods are shown in red.
In plain words: Net income is the profit left after every cost and tax. Earnings per share (EPS) splits that profit across every share, so it shows what one share earned.
Net income
FY18
Net income β$41.8M
FY19
Net income β$47.7M
FY20
Net income β$108M
FY21
Net income β$187M
FY22
Net income β$249M
FY23
Net income β$436M
FY24
Net income β$600M
FY25
Net income β$1.1B
Net income
Q3 '23
Net income β$108M
Q4 '23
Net income β$162M
Q1 '24
Net income β$116M
Q2 '24
Net income β$133M
Q3 '24
Net income β$156M
Q4 '24
Net income β$195M
Q1 '25
Net income β$213M
Q2 '25
Net income β$248M
Q3 '25
Net income β$305M
Q4 '25
Net income β$365M
Q1 '26
Net income β$454M
Q2 '26
Net income β$644M
Diluted EPS
FY18
Diluted EPS β$21.24
FY19
Diluted EPS β$22.33
FY20
Diluted EPS β$2.01
FY21
Diluted EPS β$2.57
FY22
Diluted EPS β$3.08
FY23
Diluted EPS β$3.86
FY24
Diluted EPS β$3.58
FY25
Diluted EPS β$5.95
Diluted EPS
Q3 '23
Diluted EPS β$0.99
Q4 '23
Diluted EPS β$1.23
Q1 '24
Diluted EPS β$0.70
Q2 '24
Diluted EPS β$0.81
Q3 '24
Diluted EPS β$0.94
Q4 '24
Diluted EPS β$1.13
Q1 '25
Diluted EPS β$1.13
Q2 '25
Diluted EPS β$1.31
Q3 '25
Diluted EPS β$1.61
Q4 '25
Diluted EPS β$1.90
Q1 '26
Diluted EPS β$2.29
Q2 '26
Diluted EPS β$3.06
Cash and shareholders
How much cash comes in, and where does it go?
Cash flow
KIRA Β· Free cash flow was β$914M in fiscal 2025, β of revenue.
Cash from operations minus capital spending.
In plain words: Profit on paper is not the same as cash in the bank. Free cash flow is the cash left after paying to run and maintain the business: the money it can hand back to shareholders, save or invest.
Free cash flow
FY18
Free cash flow β$0.3M
FY19
Free cash flow β$52.2M
FY20
Free cash flow β$103M
FY21
Free cash flow β$154M
FY22
Free cash flow β$235M
FY23
Free cash flow β$358M
FY24
Free cash flow β$568M
FY25
Free cash flow β$914M
Free cash flow
Q3 '23
Free cash flow β$103M
Q4 '23
Free cash flow β$123M
Q1 '24
Free cash flow β$164M
Q2 '24
Free cash flow β$131M
Q3 '24
Free cash flow β$134M
Q4 '24
Free cash flow β$140M
Q1 '25
Free cash flow β$198M
Q2 '25
Free cash flow β$229M
Q3 '25
Free cash flow β$211M
Q4 '25
Free cash flow β$276M
Q1 '26
Free cash flow β$356M
Q2 '26
Free cash flow β$390M
Cash from operations vs capital spending
FY18
Cash from operations $1.2M
Capital spending $1.5M
FY19
Cash from operations β$49.6M
Capital spending $2.6M
FY20
Cash from operations β$100M
Capital spending $2.9M
FY21
Cash from operations β$147M
Capital spending $6.5M
FY22
Cash from operations β$224M
Capital spending $10.8M
FY23
Cash from operations β$351M
Capital spending $7.7M
FY24
Cash from operations β$557M
Capital spending $10.3M
FY25
Cash from operations β$898M
Capital spending $16.0M
Cash from operations
Capital spending
Cash from operations vs capital spending
Q3 '23
Cash from operations β$100M
Capital spending $2.5M
Q4 '23
Cash from operations β$121M
Capital spending $2.3M
Q1 '24
Cash from operations β$161M
Capital spending $3.2M
Q2 '24
Cash from operations β$128M
Capital spending $2.4M
Q3 '24
Cash from operations β$130M
Capital spending $3.5M
Q4 '24
Cash from operations β$138M
Capital spending $1.2M
Q1 '25
Cash from operations β$194M
Capital spending $3.3M
Q2 '25
Cash from operations β$222M
Capital spending $7.5M
Q3 '25
Cash from operations β$207M
Capital spending $3.3M
Q4 '25
Cash from operations β$274M
Capital spending $1.9M
Q1 '26
Cash from operations β$354M
Capital spending $1.5M
Q2 '26
Cash from operations β$387M
Capital spending $2.3M
Cash from operations
Capital spending
Dividends, buybacks and share count
In plain words: Companies hand cash back in two ways: dividends (cash paid to shareholders) and buybacks (buying back their own shares, so each remaining share owns a bigger slice).
Dividends and buybacks
FY18
Dividends β
Buybacks β
FY19
Dividends β
Buybacks β
FY20
Dividends $0.0M
Buybacks β
FY21
Dividends β
Buybacks β
FY22
Dividends β
Buybacks β
FY23
Dividends β
Buybacks β
FY24
Dividends β
Buybacks β
FY25
Dividends β
Buybacks β
Dividends
Buybacks
Diluted shares outstanding (annual)
FY18
Diluted shares 0.00B
FY19
Diluted shares 0.00B
FY20
Diluted shares 0.05B
FY21
Diluted shares 0.07B
FY22
Diluted shares 0.08B
FY23
Diluted shares 0.11B
FY24
Diluted shares 0.17B
FY25
Diluted shares 0.19B
Insider trades
KIRA Β· In the last 12 months, insiders sold $154M of shares on the open market and bought none.
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. βPlanβ marks trades under a pre-arranged Rule 10b5-1 plan.
In plain words: Insiders are the people who run or own a big part of the company. Buying with their own money can signal confidence; selling often has personal reasons, like taxes or diversifying.
Bought, 12 months
$0.0M
0 insiders
Sold, 12 months
$154M
12 insiders
Of sales under plans
100%
$153M
| Date | Insider | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Sep 29, 2026 | Alan B. SandlerChief Development Officer | Sold plan | 6,309 | $202.14 | $1.3M | Form 4 |
| Sep 25, 2026 | Jeff CisliniSVP & General Counsel | Sold plan | 765 | $207.32 | $0.2M | Form 4 |
| Sep 25, 2026 | Anthony ManciniSee Remarks | Sold plan | 3,121 | $200.54 | $0.6M | Form 4 |
| Sep 24, 2026 | Anthony ManciniSee Remarks | Sold plan | 587 | $200.00 | $0.1M | Form 4 |
| Sep 22, 2026 | Elizabeth M AndersonDirector | Sold plan | 10,143 | $193.04 | $2.0M | Form 4 |
| Sep 18, 2026 | Anthony ManciniSee Remarks | Sold plan | 1,764 | $196.94 | $0.3M | Form 4 |
| Sep 16, 2026 | Anthony ManciniSee Remarks | Sold plan | 1,774 | $199.24 | $0.4M | Form 4 |
| Sep 16, 2026 | Margaret A HornChief Operating Officer | Sold plan | 4,967 | $199.23 | $1.0M | Form 4 |
| Sep 16, 2026 | Mark A GoldsmithSee Remarks, Director | Sold plan | 13,988 | $199.23 | $2.8M | Form 4 |
| Sep 16, 2026 | Alan B. SandlerChief Development Officer | Sold plan | 341 | $199.24 | $0.1M | Form 4 |
| Sep 16, 2026 | Stephen Michael KelseySee Remarks | Sold plan | 5,569 | $199.23 | $1.1M | Form 4 |
| Sep 16, 2026 | Jeff CisliniSVP & General Counsel | Sold plan | 3,366 | $199.23 | $0.7M | Form 4 |
| Sep 16, 2026 | Jack AndersChief Financial Officer | Sold plan | 4,053 | $199.24 | $0.8M | Form 4 |
| Sep 11, 2026 | Stephen Michael KelseySee Remarks | Sold plan | 92,531 | $202.36 | $18.7M | Form 4 |
| Sep 10, 2026 | Anthony ManciniSee Remarks | Sold plan | 15,448 | $204.16 | $3.2M | Form 4 |
| Sep 8, 2026 | Lorence H. KimDirector | Sold plan | 17,090 | $209.82 | $3.6M | Form 4 |
| Aug 31, 2026 | Lorence H. KimDirector | Sold plan | 56,000 | $203.24 | $11.4M | Form 4 |
| Aug 21, 2026 | Mark A GoldsmithSee Remarks, Director | Sold plan | 86,000 | $209.20 | $18.0M | Form 4 |
| Aug 21, 2026 | Jeff CisliniGeneral Counsel | Sold plan | 56,894 | $209.24 | $11.9M | Form 4 |
| Jun 29, 2026 | Sushil PatelDirector | Sold plan | 5,580 | $187.99 | $1.0M | Form 4 |
| Jun 24, 2026 | Jack AndersChief Financial Officer | Sold plan | 20,000 | $168.33 | $3.4M | Form 4 |
| Jun 17, 2026 | Margaret A HornChief Operating Officer | Sold plan | 29,600 | $160.12 | $4.7M | Form 4 |
| Jun 16, 2026 | Anthony ManciniSee Remarks | Sold | 4,615 | $156.12 | $0.7M | Form 4 |
| Jun 16, 2026 | Jeff CisliniGeneral Counsel | Sold plan | 2,157 | $156.12 | $0.3M | Form 4 |
| Jun 16, 2026 | Jack AndersChief Financial Officer | Sold plan | 2,722 | $156.12 | $0.4M | Form 4 |
| Jun 16, 2026 | Stephen Michael KelseySee Remarks | Sold plan | 4,175 | $156.12 | $0.7M | Form 4 |
| Jun 16, 2026 | Mark A GoldsmithSee Remarks, Director | Sold plan | 10,020 | $156.12 | $1.6M | Form 4 |
| Jun 15, 2026 | Margaret A HornChief Operating Officer | Sold plan | 60,400 | $160.17 | $9.7M | Form 4 |
| Jun 11, 2026 | Margaret A HornChief Operating Officer | Sold plan | 10,000 | $148.01 | $1.5M | Form 4 |
| May 26, 2026 | Anthony ManciniSee Remarks | Sold plan | 3,121 | $153.99 | $0.5M | Form 4 |
| Apr 27, 2026 | Anthony ManciniSee Remarks | Sold plan | 3,120 | $132.41 | $0.4M | Form 4 |
| Apr 15, 2026 | Mark A GoldsmithSee Remarks, Director | Sold plan | 120,000 | $150.09 | $18.0M | Form 4 |
| Mar 25, 2026 | Anthony ManciniSee Remarks | Sold plan | 37,450 | $95.57 | $3.6M | Form 4 |
| Mar 19, 2026 | Jeff CisliniGeneral Counsel | Sold plan | 1,163 | $97.44 | $0.1M | Form 4 |
| Mar 17, 2026 | Xiaolin WangSee Remarks | Sold plan | 2,010 | $99.48 | $0.2M | Form 4 |
| Mar 17, 2026 | Mark A GoldsmithSee Remarks, Director | Sold plan | 12,871 | $99.48 | $1.3M | Form 4 |
| Mar 17, 2026 | Margaret A HornChief Operating Officer | Sold plan | 4,583 | $99.48 | $0.5M | Form 4 |
| Mar 17, 2026 | Stephen Michael KelseySee Remarks | Sold plan | 4,302 | $99.48 | $0.4M | Form 4 |
| Mar 17, 2026 | Lin WeiChief Medical Officer | Sold plan | 2,073 | $99.48 | $0.2M | Form 4 |
| Mar 17, 2026 | Jack AndersChief Financial Officer | Sold plan | 2,753 | $99.48 | $0.3M | Form 4 |
| Mar 17, 2026 | Jeff CisliniGeneral Counsel | Sold plan | 1,795 | $99.48 | $0.2M | Form 4 |
| Mar 2, 2026 | Mark A GoldsmithSee Remarks, Director | Sold plan | 36,000 | $101.23 | $3.6M | Form 4 |
| Jan 21, 2026 | Jeff CisliniGeneral Counsel | Sold plan | 908 | $115.60 | $0.1M | Form 4 |
| Jan 7, 2026 | Jack AndersChief Financial Officer | Sold plan | 10,000 | $98.00 | $1.0M | Form 4 |
| Jan 7, 2026 | Margaret A HornChief Operating Officer | Sold plan | 75,000 | $100.56 | $7.5M | Form 4 |
| Dec 16, 2025 | Jeff CisliniGeneral Counsel | Sold plan | 2,688 | $76.82 | $0.2M | Form 4 |
| Dec 16, 2025 | Mark A GoldsmithSee Remarks, Director | Sold plan | 15,394 | $76.82 | $1.2M | Form 4 |
| Dec 16, 2025 | Margaret A HornChief Operating Officer | Sold plan | 4,847 | $76.82 | $0.4M | Form 4 |
| Dec 16, 2025 | Jack AndersChief Financial Officer | Sold plan | 3,104 | $77.09 | $0.2M | Form 4 |
| Dec 16, 2025 | Stephen Michael KelseySee Remarks | Sold plan | 5,447 | $76.82 | $0.4M | Form 4 |
| Nov 25, 2025 | Mark A GoldsmithSee Remarks, Director | Sold plan | 63,000 | $75.08 | $4.7M | Form 4 |
| Nov 25, 2025 | Jack AndersChief Financial Officer | Sold plan | 5,418 | $74.00 | $0.4M | Form 4 |
| Nov 18, 2025 | Mark A GoldsmithSee Remarks, Director | Sold plan | 20,000 | $70.38 | $1.4M | Form 4 |
| Nov 18, 2025 | Jeff CisliniGeneral Counsel | Sold plan | 13,388 | $70.14 | $0.9M | Form 4 |
| Nov 12, 2025 | Mark A GoldsmithSee Remarks, Director | Sold plan | 20,000 | $65.07 | $1.3M | Form 4 |
| Nov 11, 2025 | Jack AndersChief Financial Officer | Sold plan | 10,000 | $64.00 | $0.6M | Form 4 |
| Nov 7, 2025 | Mark A GoldsmithSee Remarks, Director | Sold plan | 30,000 | $60.31 | $1.8M | Form 4 |
| Oct 17, 2025 | Jeff CisliniGeneral Counsel | Sold plan | 12,000 | $55.00 | $0.7M | Form 4 |
| Oct 17, 2025 | Mark A GoldsmithSee Remarks, Director | Sold plan | 10,000 | $55.00 | $0.6M | Form 4 |
| Oct 16, 2025 | Mark A GoldsmithSee Remarks, Director | Sold plan | 10,000 | $50.47 | $0.5M | Form 4 |
| Oct 13, 2025 | Stephen Michael KelseySee Remarks | Sold plan | 25,000 | $48.54 | $1.2M | Form 4 |
| Jun 16, 2025 | Margaret A HornChief Operating Officer | Sold plan | 3,575 | $156.12 | $0.6M | Form 4 |
Financial health
Can it carry its debts, and how well does it use its money?
Balance sheet
Cash, debt and the ratios that show how comfortably Revolution Medicines, Inc. can carry it.
In plain words: What the company owns and what it owes. More cash than debt is a cushion for bad times; a lot of debt leaves less room when business slows down.
Cash vs debt (incl. leases)
FY18
Cash $69.6M
Debt β
FY19
Cash $123M
Debt β
FY20
Cash $441M
Debt β
FY21
Cash $577M
Debt β
FY22
Cash $645M
Debt β
FY23
Cash $1.9B
Debt β
FY24
Cash $2.3B
Debt β
FY25
Cash $2.0B
Debt β
Cash
Debt
| Fiscal year end | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Cash and short-term investments | $577M | $645M | $1.9B | $2.3B | $2.0B |
| Interest coverage | β15,667.3x | β | β | β | β48.8x |
| Current ratio | 9.8x | 10.7x | 13.1x | 14.2x | 7.1x |
| Quick ratio | 9.8x | 10.7x | 13.1x | 14.2x | 7.1x |
| Total assets | $738M | $812M | $2.1B | $2.6B | $2.4B |
| Total liabilities | $135M | $127M | $236M | $293M | $723M |
| Shareholders' equity | $603M | $685M | $1.8B | $2.3B | $1.6B |
| Net debt (β = net cash) | β | β | β | β | β |
Returns on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
In plain words: How much profit the business makes on the money put into it. A higher percentage means each dollar invested works harder.
Return on capital, equity and assets (annual)
FY18
Return on capital β
Return on equity β
Return on assets β
FY19
Return on capital β
Return on equity β
Return on assets β21.6%
FY20
Return on capital β
Return on equity β67.2%
Return on assets β27.5%
FY21
Return on capital β
Return on equity β34.7%
Return on assets β28.7%
FY22
Return on capital β
Return on equity β38.6%
Return on assets β32.1%
FY23
Return on capital β
Return on equity β34.8%
Return on assets β30.4%
FY24
Return on capital β
Return on equity β29.3%
Return on assets β26.0%
FY25
Return on capital β
Return on equity β58.1%
Return on assets β46.1%
Return on capital
Return on equity
Return on assets
Piotroski F-score
KIRA Β· Revolution Medicines, Inc. passes 1 of 7 financial health tests (Piotroski F-score).
Nine pass/fail tests of profitability, funding and efficiency. 8β9 is strong, 0β2 weak.
In plain words: Nine yes/no tests of financial health, one point each. A green tick is a pass: 7 to 9 points is solid, 0 to 3 is weak.
| Test | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|
| Net income is positive | β | β | β | β | β | β | β | β |
| Cash from operations is positive | β | β | β | β | β | β | β | β |
| Return on assets rose | β | β | β | β | β | β | β | β |
| Cash from operations exceeds net income | β | β | β | β | β | β | β | β |
| Debt fell relative to assets | β | β | β | β | β | β | β | β |
| Current ratio rose | β | β | β | β | β | β | β | β |
| Share count didn't rise | β | β | β | β | β | β | β | β |
| Gross margin rose | β | β | β | β | β | β | β | β |
| Revenue rose relative to assets | β | β | β | β | β | β | β | β |
| F-score | β / 3 | β / 4 | 3 / 7 | 2 / 7 | 3 / 7 | 3 / 7 | 2 / 7 | 1 / 7 |
| Accruals ratio | β | 0.9% | β2.1% | β6.1% | β3.1% | β6.0% | β1.8% | β9.5% |
| Altman Z'' | β | β3.63 | 7.24 | 5.67 | 5.56 | 10.28 | 9.64 | β0.01 |
All figures
Every number, year by year.
8 years of figures
Amounts in USD. Hover a ratioβs name for its definition.
In plain words: Every number we have, year by year. Download it as a spreadsheet if you want to dig deeper.
| Fiscal year | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|
| Income statement | ||||||||
| Revenue | $20.2M | $50.0M | $43.0M | $29.4M | $35.4M | $11.6M | $0.0M | $0.0M |
| Research and development | $51.1M | $91.8M | $132M | $187M | $253M | $423M | $592M | $987M |
| Operating income | β$40.3M | β$54.1M | β$111M | β$188M | β$258M | β$487M | β$690M | β$1.2B |
| Interest expense | $0.1M | $0.1M | $0.1M | $0.0M | $0.0M | $0.0M | $0.0M | $24.2M |
| Pretax income | β$41.8M | β$52.0M | β$109M | β$187M | β$249M | β$440M | β$601M | β$1.1B |
| Income tax | β | β$4.4M | β$0.4M | $0.0M | β$0.4M | β$3.5M | β$0.8M | $0.0M |
| Net income | β$41.8M | β$47.7M | β$108M | β$187M | β$249M | β$436M | β$600M | β$1.1B |
| Net income to common | β$48.8M | β$61.9M | β$110M | β$187M | β$249M | β$436M | β$600M | β$1.1B |
| Diluted EPS | β$21.24 | β$22.33 | β$2.01 | β$2.57 | β$3.08 | β$3.86 | β$3.58 | β$5.95 |
| Diluted shares | 0.00B | 0.00B | 0.05B | 0.07B | 0.08B | 0.11B | 0.17B | 0.19B |
| Cash flow | ||||||||
| Cash from operations | $1.2M | β$49.6M | β$100M | β$147M | β$224M | β$351M | β$557M | β$898M |
| Capital expenditure | $1.5M | $2.6M | $2.9M | $6.5M | $10.8M | $7.7M | $10.3M | $16.0M |
| Free cash flow | β$0.3M | β$52.2M | β$103M | β$154M | β$235M | β$358M | β$568M | β$914M |
| Depreciation and amortization | $1.6M | $2.3M | $2.6M | $3.1M | $4.0M | $5.0M | $6.6M | $7.8M |
| Stock-based compensation | $0.9M | $3.2M | $8.9M | $20.7M | $31.2M | $61.8M | $79.2M | $118M |
| Dividends paid | β | β | $0.0M | β | β | β | β | β |
| Dividends and buybacks | β | β | $0.0M | β | β | β | β | β |
| Balance sheet | ||||||||
| Cash and short-term investments | $69.6M | $123M | $441M | $577M | $645M | $1.9B | $2.3B | $2.0B |
| Finance lease liabilities | β | β | $0.0M | β | β | β | β | β |
| Current assets | β | $134M | $454M | $590M | $660M | $1.9B | $2.3B | $2.1B |
| Current liabilities | β | $43.1M | $47.2M | $60.4M | $62.0M | $144M | $164M | $290M |
| Property and equipment, net | β | $7.1M | $8.9M | $11.5M | $18.7M | $22.9M | $24.3M | $33.2M |
| Goodwill | β | $14.6M | $14.6M | $14.6M | $14.6M | $14.6M | $14.6M | $14.6M |
| Intangible assets | β | $62.0M | $60.9M | $59.9M | $58.8M | $57.7M | $56.7M | $55.8M |
| Total assets | β | $221M | $567M | $738M | $812M | $2.1B | $2.6B | $2.4B |
| Total liabilities | β | $68.0M | $92.7M | $135M | $127M | $236M | $293M | $723M |
| Preferred stock | β | β | β | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M |
| Shareholders' equity | β$108M | β$153M | $475M | $603M | $685M | $1.8B | $2.3B | $1.6B |
| Margins | ||||||||
| Operating margin | β200.0% | β108.2% | β257.5% | β639.7% | β730.0% | β4,207.1% | β | β |
| EBITDA margin | β192.2% | β103.6% | β251.5% | β629.2% | β718.8% | β4,163.9% | β | β |
| Net margin | β207.2% | β95.2% | β251.6% | β636.6% | β703.0% | β3,768.3% | β | β |
| FCF margin | β1.4% | β104.3% | β239.6% | β523.0% | β664.8% | β3,094.1% | β | β |
| Returns | ||||||||
| Return on capital employed | β | β30.5% | β21.3% | β27.7% | β34.4% | β25.4% | β28.8% | β57.3% |
| Return on equity | β | β | β67.2% | β34.7% | β38.6% | β34.8% | β29.3% | β58.1% |
| Return on assets | β | β21.6% | β27.5% | β28.7% | β32.1% | β30.4% | β26.0% | β46.1% |
| Return on tangible equity | β | β | β27.7% | β35.4% | β40.7% | β24.9% | β27.4% | β72.5% |
| Growth | ||||||||
| Revenue growth | β | 148.2% | β14.1% | β31.6% | 20.4% | β67.3% | β100.0% | β |
| Share count change | β | 20.6% | 1,879.2% | 32.7% | 10.7% | 40.3% | 48.2% | 13.3% |
| Financial health | ||||||||
| Interest coverage | β347.7x | β510.6x | β1,559.1x | β15,667.3x | β | β | β | β48.8x |
| Current ratio | β | 3.1x | 9.6x | 9.8x | 10.7x | 13.1x | 14.2x | 7.1x |
| Quick ratio | β | 3.1x | 9.6x | 9.8x | 10.7x | 13.1x | 14.2x | 7.1x |
| Capital allocation | ||||||||
| Capex / revenue | 7.4% | 5.2% | 6.8% | 22.2% | 30.6% | 66.7% | β | β |
| Stock comp / revenue | 4.2% | 6.3% | 20.7% | 70.5% | 88.2% | 533.4% | β | β |
| Quality scores | ||||||||
| Piotroski F-score | β | β | 3.0 | 2.0 | 3.0 | 3.0 | 2.0 | 1.0 |
| Altman Z'' | β | β3.6 | 7.2 | 5.7 | 5.6 | 10.3 | 9.6 | β0.0 |
| Accruals ratio | β | 0.9% | β2.1% | β6.1% | β3.1% | β6.0% | β1.8% | β9.5% |
Source: SEC EDGAR XBRL filings (CIK 0001628171). Data updated October 24, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only β not investment advice. Check the original filings before relying on any figure.