Income Statement | | | | | | | | | | |
| | | | | | | Press Release | | | |
USD | Fiscal Year Ending | | Latest | | Year-to-date Ending |
(in millions) | Dec-20 | Dec-21 | Dec-22 | Dec-23 | Dec-24 | | Dec-24 | | Dec-23 | Dec-24 |
| FY - 4 | FY - 3 | FY - 2 | FY - 1 | FY | | LTM | | YTD-1 | YTD |
| | | | | | | | | | |
Revenue | 961 | 1,631 | 2,475 | 2,286 | 2,004 | | 2,004 | | 2,286 | 2,004 |
% Growth | NA | 69.6% | 51.8% | -7.7% | -12.3% | | | | | -12.3% |
| | | | | | | | | | |
Cost of Revenue | (726) | (1,179) | (1,632) | (1,799) | (1,799) | | (1,799) | | (1,799) | (1,799) |
Gross Profit | 235 | 452 | 844 | 487 | 205 | | 205 | | 487 | 205 |
% Revenue | 24.4% | 27.7% | 34.1% | 21.3% | 10.2% | | 10.2% | | 21.3% | 10.2% |
| | | | | | | | | | |
Research and Development | (108) | (86) | (161) | (207) | 0 | | 0 | | (207) | 0 |
Selling and Marketing | (8) | (11) | (12) | (10) | (10) | | (10) | | (10) | (10) |
General and Admin | (261) | (199) | (267) | (323) | (351) | | (351) | | (323) | (351) |
Other Inc / (Exp) | 176 | 140 | 106 | 265 | 119 | | 119 | | 265 | 119 |
Total Operating Exp | (202) | (155) | (334) | (274) | (242) | | (242) | | (274) | (242) |
| | | | | | | | | | |
Operating Income | 33 | 296 | 509 | 213 | (37) | | (37) | | 213 | (37) |
% Revenue | 3.4% | 18.2% | 20.6% | 9.3% | -1.8% | | -1.8% | | 9.3% | -1.8% |
| | | | | | | | | | |
Interest Expense | 13 | 0 | (13) | (39) | (97) | | (97) | | (39) | (97) |
Pre-tax Income | 46 | 296 | 496 | 174 | (134) | | (134) | | 174 | (134) |
Earnings of Discontinued Ops. | 0 | 0 | 0 | 0 | 0 | | 0 | | 0 | 0 |
Provision for Taxes | (13) | (65) | (89) | (47) | (7) | | (7) | | (47) | (7) |
Net Income to Company | 33 | 231 | 407 | 126 | (140) | | (140) | | 126 | (140) |
% Margin | 3.5% | 14.2% | 16.4% | 5.5% | -7.0% | | -7.0% | | 5.5% | -7.0% |
| | | | | | | | | | |
Minority Interest in Earnings | 66 | 31 | 43 | 154 | 198 | | 198 | | 154 | 198 |
Net Income to Stockholders | 99 | 261 | 450 | 280 | 58 | | 58 | | 280 | 58 |
| | | | | | | | | | |
Preferred Dividends | 0 | 0 | 0 | 0 | 0 | | 0 | | 0 | 0 |
Other Adj. | 0 | 0 | 0 | 0 | 0 | | 0 | | 0 | 0 |
| | | | | | | | | | |
Net Income to Common | 99 | 261 | 450 | 280 | 58 | | 58 | | 280 | 58 |
% Margin | 10.3% | 16.0% | 18.2% | 12.2% | 2.9% | | 2.9% | | 12.2% | 2.9% |
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As Reported | | | | | | | | | | |
Basic EPS (Continuing Ops) | 0.08 | 0.20 | 0.35 | 0.19 | 0.03 | | 0.03 | | 0.19 | 0.03 |
Diluted EPS (Continuing Ops) | 0.08 | 0.20 | 0.34 | 0.19 | 0.03 | | 0.03 | | 0.19 | 0.03 |
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WA Basic Shares Out. | 1,293.23 | 1,300.17 | 1,303.40 | 1,477.98 | 1,717.35 | | 1,717.35 | | 1,477.98 | 1,717.35 |
WA Diluted Shares Out. | 1,310.61 | 1,320.17 | 1,313.95 | 1,486.53 | 1,721.09 | | 1,721.09 | | 1,486.53 | 1,721.09 |
| | | | | | | | | | |
EBITDA, EBIT Reconciliation | | | | | | | | | | |
EBT, Incl. Unusual Items | 46 | 296 | 496 | 174 | (134) | | (134) | | 174 | (134) |
Addback: Net Interest Expense | (13) | (0) | 13 | 39 | 97 | | 97 | | 39 | 97 |
Addback: Other Non Operating Expenses, Total | (67) | (54) | 55 | (59) | (119) | | (119) | | (59) | (119) |
Addback: Depreciation & Amortization | 197 | 307 | 445 | 486 | 556 | | 556 | | 486 | 556 |
Addback: Restructuring Charges | 0 | 0 | 0 | 0 | 0 | | 0 | | 0 | 0 |
Addback: Merger / Acquisition Expenses | 0 | 0 | 0 | 0 | 0 | | 0 | | 0 | 0 |
Addback: Goodwill Impairment | 0 | 0 | 0 | 0 | 0 | | 0 | | 0 | 0 |
Addback: Gain (Loss) On Sale Of Invest. | 0 | 0 | 0 | 0 | 0 | | 0 | | 0 | 0 |
Addback: Gain (Loss) On Sale Of Assets | 0 | 0 | (0) | 0 | 0 | | 0 | | 0 | 0 |
Addback: Asset Writedown | (0) | (0) | (0) | (0) | 0 | | 0 | | (0) | 0 |
Addback: In Process R&D Expenses | 0 | 0 | 0 | 0 | 0 | | 0 | | 0 | 0 |
Addback: Insurance Settlements | 0 | 0 | 0 | 0 | 0 | | 0 | | 0 | 0 |
Addback: Legal Settlements | 0 | 0 | 0 | 0 | 0 | | 0 | | 0 | 0 |
Addback: Other Unusual Items | 0 | 0 | 0 | 0 | 0 | | 0 | | 0 | 0 |
Adjusted EBITDA | 162 | 549 | 1,010 | 640 | 400 | | 400 | | 640 | 400 |
% Margin | 16.9% | 33.7% | 40.8% | 28.0% | 20.0% | | 20.0% | | 28.0% | 20.0% |
| | | | | | | | | | |
Adjusted EBIT | (35) | 242 | 565 | 154 | (156) | | (156) | | 154 | (156) |
% Margin | -3.6% | 14.8% | 22.8% | 6.7% | -7.8% | | -7.8% | | 6.7% | -7.8% |
| | | | | | | | | | |
Adjusted Net Income Reconciliation | | | | | | | | | | |
Net Income to Company | 33 | 231 | 407 | 126 | (140) | | (140) | | 126 | (140) |
Addback: Unusual Items | (0) | (0) | (0) | 0 | 0 | | 0 | | 0 | 0 |
Less: Tax Benefit of Unusual Items (26%) | 0 | 0 | 0 | (0) | (0) | | (0) | | (0) | (0) |
Adjusted Net Income | 33 | 231 | 407 | 127 | (140) | | (140) | | 127 | (140) |
% Margin | 3.5% | 14.2% | 16.4% | 5.5% | -7.0% | | -7.0% | | 5.5% | -7.0% |