Stock price
Market cap
At each fiscal year end, then the latest quarter end: closing price × shares outstanding.
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| Period | Market cap |
|---|---|
| FY2019, ended Dec 31, 2019 | — |
| FY2020, ended Dec 31, 2020 | — |
| FY2021, ended Dec 31, 2021 | $60.6B |
| FY2022, ended Dec 31, 2022 | $17.2B |
| FY2023, ended Dec 31, 2023 | $28.9B |
| FY2024, ended Dec 31, 2024 | $38.6B |
| FY2025, ended Dec 31, 2025 | $57.4B |
| Trailing 12 months to Jun 30, 2026 (through Q2 FY2026) | $38.8B |
Revenue
By fiscal year, then the trailing 12 months
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| Period | Revenue |
|---|---|
| FY2019, ended Dec 31, 2019 | $508M |
| FY2020, ended Dec 31, 2020 | $924M |
| FY2021, ended Dec 31, 2021 | $1.92B |
| FY2022, ended Dec 31, 2022 | $2.23B |
| FY2023, ended Dec 31, 2023 | $2.80B |
| FY2024, ended Dec 31, 2024 | $3.60B |
| FY2025, ended Dec 31, 2025 | $4.89B |
| Trailing 12 months to Jun 30, 2026 (through Q2 FY2026) | $5.69B |
Net income and free cash flow
By fiscal year, then the trailing 12 months. Free cash flow is operating cash flow minus capex.
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| Period | Net income | Free cash flow |
|---|---|---|
| FY2019, ended Dec 31, 2019 | −$71.0M | $15.9M |
| FY2020, ended Dec 31, 2020 | −$253M | $420M |
| FY2021, ended Dec 31, 2021 | −$492M | $566M |
| FY2022, ended Dec 31, 2022 | −$924M | −$56.9M |
| FY2023, ended Dec 31, 2023 | −$1.15B | $138M |
| FY2024, ended Dec 31, 2024 | −$935M | $643M |
| FY2025, ended Dec 31, 2025 | −$1.07B | $1.36B |
| Trailing 12 months to Jun 30, 2026 (through Q2 FY2026) | −$1.00B | $1.64B |
Cash and cash equivalents
At each fiscal year end, then the latest quarter end.
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| Period | Cash and cash equivalents |
|---|---|
| FY2019, ended Dec 31, 2019 | $301M |
| FY2020, ended Dec 31, 2020 | $894M |
| FY2021, ended Dec 31, 2021 | $3.00B |
| FY2022, ended Dec 31, 2022 | $2.98B |
| FY2023, ended Dec 31, 2023 | $678M |
| FY2024, ended Dec 31, 2024 | $712M |
| FY2025, ended Dec 31, 2025 | $1.21B |
| Trailing 12 months to Jun 30, 2026 (through Q2 FY2026) | $991M |
Total debt
At each fiscal year end, then the latest quarter end. Short- and long-term borrowings, excluding leases.
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| Period | Total debt |
|---|---|
| FY2019, ended Dec 31, 2019 | — |
| FY2020, ended Dec 31, 2020 | $0 |
| FY2021, ended Dec 31, 2021 | $1.33B |
| FY2022, ended Dec 31, 2022 | $1.29B |
| FY2023, ended Dec 31, 2023 | $1.25B |
| FY2024, ended Dec 31, 2024 | $1.21B |
| FY2025, ended Dec 31, 2025 | $1.19B |
| Trailing 12 months to Jun 30, 2026 (through Q2 FY2026) | $1.01B |
Shares outstanding
At each fiscal year end, then the latest quarter end, adjusted for splits. Up 338% since FY19.
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| Period | Shares outstanding |
|---|---|
| FY2019, ended Dec 31, 2019 | 163M |
| FY2020, ended Dec 31, 2020 | 201M |
| FY2021, ended Dec 31, 2021 | 588M |
| FY2022, ended Dec 31, 2022 | 605M |
| FY2023, ended Dec 31, 2023 | 632M |
| FY2024, ended Dec 31, 2024 | 667M |
| FY2025, ended Dec 31, 2025 | 709M |
| Trailing 12 months to Jun 30, 2026 (through Q2 FY2026) | 714M |
Buybacks and new shares
By fiscal year, then the trailing 12 months, in dollars. Below zero: bought back. Above zero: issued to employees, sold or used in acquisitions.
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| Period | Paid to employees | Sold for cash | Used in acquisitions |
|---|---|---|---|
| FY2019, ended Dec 31, 2019 | $17.6M | $3.11M | — |
| FY2020, ended Dec 31, 2020 | $79.2M | $15.2M | $35.2M |
| FY2021, ended Dec 31, 2021 | $342M | $76.2M | $31.3M |
| FY2022, ended Dec 31, 2022 | $589M | $45.8M | $10.1M |
| FY2023, ended Dec 31, 2023 | $868M | $53.2M | — |
| FY2024, ended Dec 31, 2024 | $1.02B | $70.3M | — |
| FY2025, ended Dec 31, 2025 | $1.13B | $88.5M | — |
| Trailing 12 months to Jun 30, 2026 (through Q2 FY2026) | $1.14B | $58.5M | — |
Valuation
At current price- Market Cap
- $38.9B
- P/E
- n/m. Market cap / net income (TTM)
- Forward P/E
- —. Needs analyst estimates; not available from the current data provider
- Price / Sales
- 6.8×
- Price / Book
- 256×
- EV / EBITDA
- n/m. (Market cap + debt − cash) / EBITDA (TTM)
Growth
Trailing 12 months- Revenue (TTM)
- $5.69B
- Revenue Growth YoY
- 41.3%
- Revenue CAGR 3Y
- 30.0%
- Revenue CAGR 5Y
- 39.6%
- EPS Growth YoY
- n/m. Diluted EPS, TTM vs. TTM a year earlier
- Net Income Growth YoY
- n/m. TTM vs. TTM a year earlier
Profitability
Trailing 12 months- Gross Margin
- 78.9%
- Operating Margin
- −20.7%
- Net Margin
- −17.6%
- FCF Margin
- 28.9%
- Return on Equity
- −396%
Earnings
Trailing 12 months- Net Income
- −$1.00B
- EPS (diluted)
- −$1.41
- EBITDA
- −$935M
- Operating Income
- −$1.18B
Balance Sheet
As of Jun 30, 2026- Cash and cash equivalents
- $991M
- Total Debt
- $1.01B
- Net Debt
- $18.0M
- Total Assets
- $9.74B
- Total Liabilities
- $9.62B
- Shareholders' Equity
- $152M
Cash Flow
Trailing 12 months- Operating Cash Flow
- $2.10B
- Capital Expenditure
- $456M
- Free Cash Flow
- $1.64B
Dividends and risk
Last 12 months- Dividend Yield
- 0.0%
- Dividend / Share
- $0.00
- Beta (5Y)
- 1.45
Every ratio is calculated from the company’s reported figures.