Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025 2.5% Revenue growth, 20255 Where the money goes Where each dollar of revenue went, fiscal 2025 Cost of revenue Selling, general and admin Other costs
Cost of revenue 66¢ $2.8B Research and development 1¢ $41.9M Selling, general and admin 15¢ $619.1M Other costs 17¢ $725.7M Income tax 0¢ $10.4M Profit 1¢ $40.7M Out of $4.3B in revenue.5
Where each dollar of operating cash went, fiscal 2025 Capital spending Kept or used elsewhere
Capital spending 31¢ $89.9M Kept or used elsewhere 69¢ $202.8M Out of $292.7M of cash from operations.5
Financial statements
Income statement Balance sheet Cash flow
Annual Quarterly
Revenue6 7 8 9 5 $4.3B in 2025+251% since 2019 0 $2.0B $4.0B $6.0B 2019: $1.2B $1.2B 2019 2020: $1.2B $1.2B 2020 −3% 2021: $1.3B $1.3B 2021 +12% 2022: $1.6B $1.6B 2022 +22% 2023: $3.4B $3.4B 2023 +108% 2024: $4.2B $4.2B 2024 +24% 2025: $4.3B $4.3B 2025 +2% Gross profit6 7 8 9 5 $1.4B in 2025+383% since 2019 0 $500.0M $1.0B $1.5B 2019: $297.5M $297.5M 2019 2020: $332.1M $332.1M 2020 +12% 2021: $324.2M $324.2M 2021 −2% 2022: $407.4M $407.4M 2022 +26% 2023: $1.0B $1.0B 2023 +155% 2024: $1.4B $1.4B 2024 +33% 2025: $1.4B $1.4B 2025 +4% Operating income6 7 8 9 5 $358.4M in 2025+589% since 2019 0 $200.0M $400.0M $600.0M $800.0M 2019: $52.0M $52.0M 2019 2020: $92.2M $92.2M 2020 +77% 2021: $88.5M $88.5M 2021 −4% 2022: $151.5M $151.5M 2022 +71% 2023: $390.7M $390.7M 2023 +158% 2024: $647.5M $647.5M 2024 +66% 2025: $358.4M $358.4M 2025 −45% Net income6 7 5 $40.7M in 2025−12% since 2019 0 $100.0M $200.0M $300.0M $400.0M 2019: $46.4M $46.4M 2019 2020: $308.1M $308.1M 2020 +564% 2021: $59.1M $59.1M 2021 −81% 2022: $24.0M $24.0M 2022 −59% 2023: $47.3M $47.3M 2023 +97% 2024: $218.5M $218.5M 2024 +362% 2025: $40.7M $40.7M 2025 −81%
Revenue10 11 12 $884.8M in Q1 FY2026−18% since Q2 FY2025 0 $500.0M $1.0B $1.5B Q2 FY2025: $1.1B $1.1B Q2 FY2025 Q3 FY2025: $1.1B $1.1B Q3 FY2025 +2% Q1 FY2026: $884.8M $884.8M Q1 FY2026 −20% Gross profit10 11 12 $251.4M in Q1 FY2026−31% since Q2 FY2025 0 $100.0M $200.0M $300.0M $400.0M Q2 FY2025: $363.5M $363.5M Q2 FY2025 Q3 FY2025: $375.2M $375.2M Q3 FY2025 +3% Q1 FY2026: $251.4M $251.4M Q1 FY2026 −33% Operating income10 11 12 $52.6M in Q1 FY2026−69% since Q2 FY2025 -$100.0M 0 $100.0M $200.0M Q2 FY2025: $169.5M $169.5M Q2 FY2025 Q3 FY2025: -$88.5M -$88.5M Q3 FY2025 Q1 FY2026: $52.6M $52.6M Q1 FY2026 Net income10 11 12 -$17.1M in Q1 FY2026-$200.0M -$100.0M 0 $100.0M Q2 FY2025: $76.1M $76.1M Q2 FY2025 Q3 FY2025: $79.9M $79.9M Q3 FY2025 +5% Q3 FY2025: -$138.5M -$138.5M Q3 FY2025 Q1 FY2026: -$17.1M -$17.1M Q1 FY2026 −88%
Fiscal year 2019 2020 2021 2022 2023 2024 2025 Revenue $1.2B6 $1.2B7 $1.3B8 $1.6B9 $3.4B5 $4.2B5 $4.3B5 Cost of revenue $918.0M6 $845.0M7 $993.5M8 $1.2B9 $2.3B5 $2.8B5 $2.8B5 Gross profit $297.5M6 $332.1M7 $324.2M8 $407.4M9 $1.0B5 $1.4B5 $1.4B5 Research and development $9.2M6 $9.1M7 $12.7M8 $13.5M9 $23.3M5 $38.3M5 $41.9M5 Selling, general and admin $205.7M6 $178.2M7 $196.8M8 $214.5M9 $486.3M5 $547.4M5 $619.1M5 Operating income $52.0M6 $92.2M7 $88.5M8 $151.5M9 $390.7M5 $647.5M5 $358.4M5 Interest $25.3M13 Income tax $2.8M6 $14.9M7 $13.5M8 $15.9M9 $3.0M5 $78.6M5 -$10.4M5 Net income $46.4M6 $308.1M7 $59.1M5 $24.0M5 $47.3M5 $218.5M5 $40.7M5 Earnings per share $1.376 $8.717 $1.668 $0.629 $0.485 $4.545 $0.305 Earnings per share (diluted) $1.326 $8.457 $1.448 $0.549 $0.435 $4.105 $0.305
Total assets14 6 7 8 9 5 $9.8B in 2025+295% since 2019 0 $2.5B $5.0B $7.5B $10.0B 2019: $2.5B $2.5B 2019 2020: $2.6B $2.6B 2020 +4% 2021: $3.0B $3.0B 2021 +18% 2022: $5.9B $5.9B 2022 +94% 2023: $9.1B $9.1B 2023 +54% 2024: $9.1B $9.1B 2024 +0% 2025: $9.8B $9.8B 2025 +7% Total liabilities14 6 7 8 9 5 $6.4B in 2025+415% since 2019 0 $2.0B $4.0B $6.0B $8.0B 2019: $1.2B $1.2B 2019 2020: $991.2M $991.2M 2020 −21% 2021: $1.4B $1.4B 2021 +43% 2022: $3.2B $3.2B 2022 +127% 2023: $6.2B $6.2B 2023 +92% 2024: $6.1B $6.1B 2024 −1% 2025: $6.4B $6.4B 2025 +5% Shareholders’ equity14 6 7 8 9 5 $3.2B in 2025+163% since 2019 0 $1.0B $2.0B $3.0B $4.0B 2019: $1.2B $1.2B 2019 2020: $1.6B $1.6B 2020 +28% 2021: $1.6B $1.6B 2021 +3% 2022: $2.7B $2.7B 2022 +66% 2023: $2.8B $2.8B 2023 +4% 2024: $2.8B $2.8B 2024 +2% 2025: $3.2B $3.2B 2025 +14% Cash14 6 7 8 9 5 $366.0M in 2025+208% since 2019 0 $200.0M $400.0M $600.0M $800.0M 2019: $119.0M $119.0M 2019 2020: $125.1M $125.1M 2020 +5% 2021: $122.2M $122.2M 2021 −2% 2022: $663.6M $663.6M 2022 +443% 2023: $188.3M $188.3M 2023 −72% 2024: $308.6M $308.6M 2024 +64% 2025: $366.0M $366.0M 2025 +19% Long-term debt14 6 7 8 9 5 $3.6B in 2025+368% since 2019 0 $1.0B $2.0B $3.0B $4.0B 2019: $761.0M $761.0M 2019 2020: $221.6M $221.6M 2020 −71% 2021: $600.8M $600.8M 2021 +171% 2022: $2.0B $2.0B 2022 +240% 2023: $3.6B $3.6B 2023 +75% 2024: $3.6B $3.6B 2024 +2% 2025: $3.6B $3.6B 2025 −2%
Total assets10 11 12 $9.7B in Q1 FY2026−0% since Q2 FY2025 0 $2.5B $5.0B $7.5B $10.0B Q2 FY2025: $9.7B $9.7B Q2 FY2025 Q3 FY2025: $9.8B $9.8B Q3 FY2025 +1% Q1 FY2025: $9.8B $9.8B Q1 FY2025 +0% Q1 FY2026: $9.7B $9.7B Q1 FY2026 −1% Total liabilities10 11 12 $6.4B in Q1 FY2026+3% since Q2 FY2025 0 $2.0B $4.0B $6.0B $8.0B Q2 FY2025: $6.2B $6.2B Q2 FY2025 Q3 FY2025: $6.4B $6.4B Q3 FY2025 +3% Q1 FY2025: $6.4B $6.4B Q1 FY2025 +0% Q1 FY2026: $6.4B $6.4B Q1 FY2026 −1% Shareholders’ equity10 11 12 $3.2B in Q1 FY2026−6% since Q2 FY2025 0 $1.0B $2.0B $3.0B $4.0B Q2 FY2025: $3.4B $3.4B Q2 FY2025 Q3 FY2025: $3.5B $3.5B Q3 FY2025 +5% Q3 FY2025: $3.2B $3.2B Q3 FY2025 −9% Q1 FY2025: $3.2B $3.2B Q1 FY2025 +1% Q1 FY2026: $3.2B $3.2B Q1 FY2026 −2% Cash10 11 12 $267.9M in Q1 FY2026−22% since Q2 FY2025 0 $100.0M $200.0M $300.0M $400.0M Q2 FY2025: $342.3M $342.3M Q2 FY2025 Q3 FY2025: $399.2M $399.2M Q3 FY2025 +17% Q1 FY2025: $366.0M $366.0M Q1 FY2025 −8% Q1 FY2026: $267.9M $267.9M Q1 FY2026 −27% Long-term debt10 11 12 $3.8B in Q1 FY2026+3% since Q2 FY2025 0 $1.0B $2.0B $3.0B $4.0B Q2 FY2025: $3.7B $3.7B Q2 FY2025 Q3 FY2025: $3.6B $3.6B Q3 FY2025 −0% Q1 FY2025: $3.6B $3.6B Q1 FY2025 −2% Q1 FY2026: $3.8B $3.8B Q1 FY2026 +6%
Fiscal year 2019 2020 2021 2022 2023 2024 2025 Cash $119.0M14 $125.1M6 $122.2M7 $663.6M8 $188.3M9 $308.6M5 $366.0M5 Current assets $673.6M14 $703.0M6 $853.5M7 $3.7B8 $2.2B9 $2.5B5 $2.9B5 Total assets $2.5B14 $2.6B6 $3.0B7 $5.9B8 $9.1B9 $9.1B5 $9.8B5 Current liabilities $378.3M14 $634.8M6 $693.9M7 $1.1B8 $1.9B9 $1.8B5 $2.1B5 Long-term debt $761.0M14 $221.6M6 $600.8M7 $2.0B8 $3.6B9 $3.6B5 $3.6B5 Total liabilities $1.2B14 $991.2M6 $1.4B7 $3.2B8 $6.2B9 $6.1B5 $6.4B5 Shareholders’ equity $1.2B14 $1.6B6 $1.6B7 $2.7B8 $2.8B9 $2.8B5 $3.2B5 Shares outstanding 35.8M shares14 36.2M shares6 36.5M shares7 42.6M shares8 42.8M shares8 42.3M shares8 45.7M shares9
Cash from operations6 7 8 9 5 $292.7M in 2025+119% since 2019 -$200.0M 0 $200.0M $400.0M $600.0M 2019: $133.9M $133.9M 2019 2020: $172.7M $172.7M 2020 +29% 2021: -$21.3M -$21.3M 2021 2022: $80.8M $80.8M 2022 2023: $167.2M $167.2M 2023 +107% 2024: $503.0M $503.0M 2024 +201% 2025: $292.7M $292.7M 2025 −42% Capital spending6 7 8 9 5 $89.9M in 2025+148% since 2019 0 $50.0M $100.0M $150.0M 2019: $36.2M $36.2M 2019 2020: $37.9M $37.9M 2020 +5% 2021: $52.7M $52.7M 2021 +39% 2022: $74.2M $74.2M 2022 +41% 2023: $135.6M $135.6M 2023 +83% 2024: $120.8M $120.8M 2024 −11% 2025: $89.9M $89.9M 2025 −26% Free cash flow6 7 8 9 5 $202.8M in 2025+108% since 2019 -$200.0M 0 $200.0M $400.0M 2019: $97.7M $97.7M 2019 2020: $134.8M $134.8M 2020 +38% 2021: -$74.0M -$74.0M 2021 2022: $6.6M $6.6M 2022 2023: $31.6M $31.6M 2023 +379% 2024: $382.2M $382.2M 2024 +1109% 2025: $202.8M $202.8M 2025 −47% Share buybacks6 7 $0 in 20220 $5.0M $10.0M $15.0M $20.0M 2019: $0 $0 2019 2020: $19.3M $19.3M 2020 2021: $0 $0 2021 2022: $0 $0 2022
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Fiscal year 2019 2020 2021 2022 2023 2024 2025 Cash from operations $133.9M6 $172.7M7 -$21.3M8 $80.8M9 $167.2M5 $503.0M5 $292.7M5 Capital spending $36.2M6 $37.9M7 $52.7M8 $74.2M9 $135.6M5 $120.8M5 $89.9M5 Free cash flow $97.7M $134.8M -$74.0M $6.6M $31.6M $382.2M $202.8M Share buybacks $06 $19.3M7 $07 $07
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Acquisitions
2023 Acquired Roots Blowers1
Recent filings
Jul 16, 2026 8-K Jul 16, 2026 4 Jul 16, 2026 4 Jul 16, 2026 4 Jul 16, 2026 4 Jul 16, 2026 4 Jul 16, 2026 4 Jul 16, 2026 4 Jul 16, 2026 4 Jul 16, 2026 4 Jul 16, 2026 4 Jul 16, 2026 4 Jul 16, 2026 4 Jul 14, 2026 4 Jul 2, 2026 4
Every filing from the last three years, summarized . The full record is on SEC EDGAR.2