Valuation Ratios

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
Price to Earnings 224.50 -16.65 -5.68 -16.34
Price to Sales 5.46 7.34 4.57 64.88 35.05
Book Value Per Common Share 2.68 2.63 2.85 3.38 3.22
Price to Book 3.35 3.42 1.52 6.76 4.30
Price to Operating Cash Flow 28.94 -38.48 -7.71 -18.76 -25.09
Price to Free Cash Flow 29.13 -37.68 -7.68 -18.59 -22.70
Enterprise Value to EBITDA 665948.01
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-03-31 2023-12-31 2023-03-31 2022-03-31 2021-09-30 2021-06-30 2021-03-31 2020-12-31
Price to Earnings 46.04 52.94 47.29 73.30 -71.57 -60.89 -45.85 -56.74 -35.03
Price to Sales 19.82 16.32 17.88 15.47 14.34 45.44 81.13 194.12 252.14 1881.88
Book Value Per Common Share 2.77 2.53 2.54 2.68 2.71 2.50 2.63 2.73 3.16 2.30 2.59 2.89 3.22
Price to Book 3.98 3.35 3.16 3.35 2.70 2.00 3.42 4.02 3.92 9.62 5.01 4.49 4.30
Price to Operating Cash Flow 32.77 25.82 855.32 61.60 -38.81 -49.37 -37.52 -31.07
Price to Free Cash Flow 32.82 25.88 873.91 61.91 -38.78 -48.58 -37.46 -30.40
Enterprise Value to EBITDA 384120.57 399358.36 401022.01 501704.08

Earnings Data

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
Earning YoY
Revenue YoY 33.97 30.95 193.89 -8.79
EBITDA YoY
Net Profit YoY
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-03-31 2023-12-31 2023-03-31 2022-03-31 2021-09-30 2021-06-30 2021-03-31 2020-12-31
Earning YoY 50.00 -5.88 70.00
Revenue YoY 4.94 12.08 -7.83 34.73 46.19 59.12 47.73 122.09 645.59
EBITDA YoY 34.79 1.89 32.08
Net Profit YoY 46.66 -7.84 62.68

Financial Strength

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
Cash Per Common Share 2.51 2.45 2.74 3.60 3.14
Quick Ratio 4.04 4.85 8.74 11.85 12.48
Current Ratio 4.57 5.50 9.60 12.63 13.11
Debt to Equity 0.46 0.45 0.16 0.13 0.14
Long-Term Debt to Equity 0.20 0.25 0.05 0.05 0.06
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-03-31 2023-12-31 2023-03-31 2022-03-31 2021-09-30 2021-06-30 2021-03-31 2020-12-31
Cash Per Common Share 2.67 2.34 2.25 2.54 2.44 2.22 2.44 2.53 2.96 2.23 2.49 2.72 3.14
Quick Ratio 5.02 4.54 5.16 4.04 4.90 4.91 4.85 9.05 12.98 7.89 11.02 16.52 12.48
Current Ratio 5.76 5.23 5.93 4.57 5.60 5.60 5.50 10.08 14.11 8.77 11.93 17.60 13.11
Debt to Equity 0.44 0.50 0.44 0.46 0.42 0.44 0.45 0.16 0.13 0.21 0.16 0.13 0.14
Long-Term Debt to Equity 0.23 0.27 0.25 0.20 0.21 0.24 0.25 0.05 0.06 0.08 0.07 0.07 0.06

Profitability

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
ROA 1.04 -14.24 -22.98 -33.30 -22.15
ROE 1.52 -20.64 -26.68 -37.77 -25.18
Gross Margin 87.99 91.94 95.77 97.61
Operating Margin 5.22 -42.56 -79.35 -395.15 -205.55
EBITDA Margin 8.08 -42.28 -77.33 -389.09 -202.81
Net Profit Margin 2.45 -44.45 -80.71 -396.81 -205.36
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-03-31 2023-12-31 2023-03-31 2022-03-31 2021-09-30 2021-06-30 2021-03-31 2020-12-31
ROA 5.98 4.28 4.62 2.61 -2.08 -5.80 -7.42 -13.96 -12.17 -12.08
ROE 8.63 6.42 6.67 3.70 -2.99 -6.71 -8.40 -16.85 -14.15 -13.61
Gross Margin 88.87 89.84 86.27 91.10 84.59 98.78 98.82 98.26 95.33 94.57
Operating Margin 45.00 33.24 40.69 23.63 -17.35 -74.89 -173.97 -343.26 -712.97 -5698.08
EBITDA Margin 51.62 40.19 44.21 30.85 -14.09 -69.39 -170.09 -338.37 -701.81 -5620.25
Net Profit Margin 42.95 30.73 37.37 21.17 -21.37 -76.16 -174.01 -343.32 -713.25 -5698.98

Dividends

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
Dividend Yield
Dividend Payout Ratio
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-03-31 2023-12-31 2023-03-31 2022-03-31 2021-09-30 2021-06-30 2021-03-31 2020-12-31
Dividend Yield
Dividend Payout Ratio

Financial Statements

Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
Assets 550,645.00 548,062.00 470,860.00 543,367.00 463,661.00
   Current Assets 446,596.00 424,800.00 442,539.00 513,324.00 419,427.00
   Deposits 0 1,345.00 0 0 0
      Cash and Short-Term Investments 358,476.00 350,489.00 389,390.00 466,078.00 398,329.00
            Cash and Cash Equivalents 83,433.00 48,875.00 94,172.00 231,900.00 272,350.00
            Short-Term Investments 275,043.00 301,614.00 295,218.00 234,178.00 125,979.00
      Net Receivables 36,544.00 24,089.00 13,483.00 15,414.00 1,018.00
      Inventory 39,228.00 39,705.00 24,752.00 19,326.00 13,927.00
      Other Current Assets 12,348.00 10,517.00 14,914.00 12,506.00 6,153.00
   Non-Current Assets 104,049.00 123,262.00 28,321.00 30,043.00 44,234.00
      Property, Plant, Equipment Net 6,799.00 7,852.00 8,557.00 9,801.00 10,275.00
      Goodwill 0 0 0 0 0
      Intangible Assets 4,355.00 4,977.00 6,425.00 8,404.00 9,332.00
      Long-Term Investments 0 201.00 0 0 24,380.00
      Non-Current Deferred Assets 0 0 0 0 0
      Other Non-Current Assets 92,895.00 110,232.00 13,339.00 11,838.00 247.00
Liabilities 173,167.00 170,108.00 65,425.00 64,276.00 55,911.00
   Current Liabilities 97,763.00 77,188.00 46,107.00 40,646.00 31,997.00
      Payables and Expenses 70,158.00 54,389.00 39,990.00 34,947.00 24,797.00
            Account Payables 5,187.00 4,327.00 3,087.00 3,879.00 2,635.00
            Current Accrued Liabilities 64,971.00 22,486.00 36,278.00 30,254.00 11,307.00
      Short-Term Debt 15,072.00 15,598.00 936.00 1,059.00 788.00
      Other Current Liabilities 12,533.00 7,201.00 5,181.00 4,640.00 6,412.00
   Non-Current Liabilities 75,404.00 92,920.00 19,318.00 23,630.00 23,914.00
      Long-Term Debt 64,297.00 82,009.00 7,152.00 7,680.00 7,619.00
      Other Non-Current Liabilities 11,107.00 10,911.00 12,166.00 15,950.00 16,295.00
Equity 377,478.00 377,954.00 405,435.00 479,091.00 407,750.00
   Shareholders Equity 377,478.00 377,954.00 405,435.00 479,091.00 407,750.00
      Capital Stock 1,187,696.00 1,200,218.00 1,185,309.00 1,177,051.00 944,328.00
      Share Premium 126,999.00 120,788.00 85,489.00 59,014.00 39,383.00
      Retained Earnings -936,570.00 -942,322.00 -864,302.00 -756,122.00 -575,156.00
      Treasury Shares 0 0 0 0 0
      Accumulated Other Comprehensive Income -647.00 -730.00 -1,061.00 -852.00 -805.00
   Minority Interest 0 0 0 0 0
Investments 275,043.00 301,815.00 0 0 150,359.00
Debt 79,369.00 97,607.00 8,088.00 8,739.00 8,407.00
Common Shares Outstanding 140,883.00 143,833.00 142,268.00 141,600.00 126,725.00
Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
Revenues 235,133.00 175,513.00 134,030.00 45,605.00 50,000.00
Cost Of Revenue 28,248.00 14,148.00 5,664.00 1,091.00 0
Interest Income 21,805.00 19,772.00 5,118.00 529.00 0
Interest Expense 4,835.00 2,775.00 0 0 0.00
Net Interest 16,970.00 16,997.00 0 0 0
Non-Interest Expense 0 0 196,371.00 173,536.00 0
Gross Profit 206,885.00 161,365.00 128,366.00 44,514.00 0
Operating Expenses 211,572.00 253,056.00 239,836.00 225,249.00 154,408.00
   Selling, General and Administrative Expenses 172,028.00 195,036.00 196,371.00 173,536.00 95,983.00
   Research and Development Expenses 20,785.00 49,641.00 44,988.00 51,139.00 50,327.00
   Other Operating Expenses 18,759.00 8,379.00 -1,523.00 574.00 8,098.00
Operating Income -4,687.00 -91,691.00 -111,470.00 -180,735.00 -104,290.00
Net Non-Operating Income 12,135.00 14,222.00 0 0 1,516.00
EBT 7,448.00 -77,469.00 -106,352.00 -180,206.00 -102,774.00
Income Tax 1,696.00 551.00 1,828.00 760.00 94.00
Net Income Including Non-Controlling Interests 0 0 -108,180.00 -180,966.00 0
Net Income 5,752.00 -78,020.00 -108,180.00 -180,966.00 -102,680.00
EBIT 12,283.00 -74,694.00 -106,352.00 -180,206.00 -102,774.00
Deprecation and Amortization 6,714.00 494.00 2,706.00 2,761.00 1,371.00
EBITDA 18,997.00 -74,200.00 -103,646.00 -177,445.00 -101,403.00
EPS 0.00 -0.00 -0.00 -0.00 0
Diluted EPS 0.00 -0.00 -0.00 -0.00 0
Average Shares Outstanding Basic 143,057.00 143,236.00 141,915.00 129,369.00 0
Average Shares Outstanding Diluted 146,194.00 143,236.00 141,915.00 129,369.00 0
Breakdown 2024-12-31 2023-12-31 2022-12-31 2021-12-31 2020-12-31
Operating Cash Flow 44,388.00 -33,461.00 -79,529.00 -157,692.00 -69,858.00
   Operating Net Income 5,752.00 -78,020.00 -108,180.00 -180,966.00 -102,680.00
   Deprecation and Amortization 6,714.00 -494.00 2,706.00 2,761.00 1,371.00
   Deferred Income Tax 0 0 0 0 0
   Share Based Compensation 31,596.00 45,311.00 32,300.00 31,243.00 17,454.00
   Change in Working Capital -7,882.00 -5,608.00 -6,817.00 -21,633.00 1,602.00
   Other Operating Activities 8,208.00 5,350.00 462.00 10,903.00 12,395.00
Investing Cash Flow 39,262.00 -6,706.00 -60,632.00 -103,870.00 -158,186.00
   Capital Expenditure -281.00 -718.00 0 -6.00 -7,343.00
   Net Purchase/Sale of PPE -281.00 -718.00 -292.00 -303.00 -7,343.00
   Net Purchase/Sale of Investments Net 39,586.00 5,876.00 -59,677.00 -84,531.00 -150,843.00
   Net Purchase/Sale of Business 0 0 0 0 0
   Other Investing Activities 238.00 -11,146.00 -663.00 -19,030.00 7,343.00
Financing Cash Flow -49,092.00 -5,130.00 2,433.00 221,112.00 194,375.00
   Net Issuance/Repayment of Debt -11,989.00 -10,025.00 0 0 0
   Net Issuance/Repurchase of Equity 49,509.00 4,895.00 0 196,740.00 194,375.00
   Dividends Paid 0 0 0 0 0
   Other Financing Activities -86,612.00 0.00 2,433.00 24,372.00 0.00
Net Change in Cash 34,558.00 -45,297.00 -137,728.00 -40,450.00 -33,669.00
   Cash at Beginning of Period 48,875.00 94,197.00 231,900.00 272,350.00 306,019.00
   Cash at End of Period 83,433.00 48,900.00 94,172.00 231,900.00 272,350.00
Free Cash Flow 44,107.00 -34,179.00 -79,821.00 -159,193.00 -77,201.00
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-03-31 2023-12-31 2023-03-31 2022-03-31 2021-09-30 2021-06-30 2021-03-31 2020-12-31
Assets 527,528.00 502,562.00 504,850.00 550,645.00 549,361.00 516,634.00 548,062.00 451,761.00 506,902.00 360,066.00 386,268.00 417,078.00 463,661.00
   Current Assets 438,737.00 408,970.00 405,762.00 446,596.00 440,459.00 398,223.00 424,800.00 423,648.00 477,618.00 329,219.00 349,689.00 372,246.00 419,427.00
   Deposits 0 0 0 0 0 2,376.00 1,345.00 3,308.00 0 0 0 0 0
      Cash and Short-Term Investments 351,808.00 315,133.00 312,901.00 358,476.00 348,747.00 319,912.00 350,489.00 361,534.00 418,752.00 286,400.00 318,737.00 348,259.00 398,329.00
            Cash and Cash Equivalents 73,189.00 53,002.00 66,428.00 83,433.00 37,142.00 64,459.00 48,875.00 89,001.00 132,542.00 57,587.00 121,561.00 156,591.00 272,350.00
            Short-Term Investments 278,619.00 262,131.00 246,473.00 275,043.00 311,605.00 255,453.00 301,614.00 272,533.00 286,210.00 228,813.00 197,176.00 191,668.00 125,979.00
      Net Receivables 30,728.00 40,091.00 40,350.00 36,544.00 36,483.00 28,909.00 24,089.00 19,046.00 20,401.00 9,814.00 4,418.00 1,187.00 1,018.00
      Inventory 44,793.00 46,503.00 46,195.00 39,228.00 38,714.00 39,761.00 39,705.00 31,745.00 26,266.00 19,293.00 17,376.00 15,936.00 13,927.00
      Other Current Assets 11,408.00 7,243.00 6,316.00 12,348.00 16,515.00 9,641.00 10,517.00 11,323.00 12,199.00 13,712.00 9,158.00 6,864.00 6,153.00
   Non-Current Assets 88,791.00 93,592.00 99,088.00 104,049.00 108,902.00 118,411.00 123,262.00 28,113.00 29,284.00 30,847.00 36,579.00 44,832.00 44,234.00
      Property, Plant, Equipment Net 84,797.00 89,453.00 6,530.00 6,799.00 103,525.00 7,592.00 7,852.00 8,655.00 9,564.00 10,083.00 10,428.00 10,519.00 10,275.00
      Goodwill 0 0 0 0 0 0 0 0 0 0 0 0 0
      Intangible Assets 3,901.00 4,046.00 4,158.00 4,355.00 4,509.00 4,760.00 4,977.00 6,101.00 7,882.00 8,926.00 9,291.00 9,854.00 9,332.00
      Long-Term Investments 0 0 0 0 0 199.00 201.00 0 0 0 5,004.00 12,603.00 24,380.00
      Non-Current Deferred Assets 0 0 0 0 0 0 0 0 0 0 0 0 0
      Other Non-Current Assets 0 0 88,400.00 92,895.00 868.00 105,860.00 110,232.00 13,357.00 11,838.00 11,838.00 11,856.00 11,856.00 247.00
Liabilities 161,757.00 167,261.00 154,660.00 173,167.00 161,359.00 157,158.00 170,108.00 61,353.00 58,779.00 61,894.00 54,011.00 46,850.00 55,911.00
   Current Liabilities 76,220.00 78,266.00 68,406.00 97,763.00 78,609.00 71,052.00 77,188.00 42,046.00 33,838.00 37,537.00 29,315.00 21,151.00 31,997.00
      Payables and Expenses 51,750.00 53,016.00 42,353.00 70,158.00 57,570.00 50,270.00 54,389.00 35,965.00 32,327.00 29,970.00 25,831.00 17,694.00 24,797.00
            Account Payables 2,214.00 3,312.00 4,220.00 5,187.00 8,878.00 5,672.00 4,327.00 3,680.00 3,267.00 3,263.00 2,535.00 2,182.00 2,635.00
            Current Accrued Liabilities 48,147.00 49,704.00 42,353.00 64,971.00 46,885.00 11,412.00 22,486.00 11,721.00 9,609.00 14,520.00 10,817.00 9,727.00 11,307.00
      Short-Term Debt 17,366.00 17,214.00 15,544.00 15,072.00 15,945.00 14,723.00 15,598.00 945.00 1,009.00 1,111.00 1,112.00 1,075.00 788.00
      Other Current Liabilities 7,104.00 8,036.00 10,509.00 12,533.00 5,094.00 6,059.00 7,201.00 5,136.00 502.00 6,456.00 2,372.00 2,382.00 6,412.00
   Non-Current Liabilities 85,537.00 88,995.00 86,254.00 75,404.00 82,750.00 86,106.00 92,920.00 19,307.00 24,941.00 24,357.00 24,696.00 25,699.00 23,914.00
      Long-Term Debt 60,846.00 64,616.00 62,366.00 64,297.00 71,906.00 73,814.00 82,009.00 6,986.00 7,562.00 7,795.00 7,824.00 7,806.00 7,619.00
      Other Non-Current Liabilities 24,691.00 24,379.00 23,888.00 11,107.00 10,844.00 12,292.00 10,911.00 12,321.00 17,379.00 16,562.00 16,872.00 17,893.00 16,295.00
Equity 365,771.00 335,301.00 350,190.00 377,478.00 388,002.00 359,476.00 377,954.00 390,408.00 448,123.00 298,172.00 332,257.00 370,228.00 407,750.00
   Shareholders Equity 365,771.00 335,301.00 350,190.00 377,478.00 388,002.00 359,476.00 377,954.00 390,408.00 448,123.00 298,172.00 332,257.00 370,228.00 407,750.00
      Capital Stock 1,116,797.00 1,122,582.00 1,163,262.00 1,187,696.00 1,206,613.00 1,207,982.00 1,200,218.00 1,193,019.00 1,178,807.00 967,159.00 954,572.00 952,673.00 944,328.00
      Share Premium 109,885.00 105,337.00 100,979.00 126,999.00 119,773.00 105,419.00 120,788.00 88,885.00 64,686.00 54,607.00 51,022.00 43,889.00 39,383.00
      Retained Earnings -860,162.00 -891,713.00 -913,226.00 -936,570.00 -937,999.00 -953,071.00 -942,322.00 -890,508.00 -793,752.00 -722,800.00 -672,545.00 -625,535.00 -575,156.00
      Treasury Shares 0 0 0 0 0 0 0 0 0 0 0 0 0
      Accumulated Other Comprehensive Income -749.00 -905.00 -825.00 -647.00 -385.00 -854.00 -730.00 -988.00 -1,618.00 -794.00 -792.00 -799.00 -805.00
   Minority Interest 0 0 0 0 0 0 0 0 0 0 0 0 0
Investments 0 0 246,473.00 275,043.00 0 255,652.00 301,815.00 272,533.00 286,210.00 228,813.00 202,180.00 204,271.00 150,359.00
Debt 78,212.00 81,830.00 77,910.00 79,369.00 87,851.00 88,537.00 97,607.00 7,931.00 8,571.00 8,906.00 8,936.00 8,881.00 8,407.00
Common Shares Outstanding 131,841.00 132,668.00 137,747.00 140,883.00 143,109.00 143,690.00 143,833.00 143,029.00 141,742.00 129,600.00 128,400.00 128,121.00 126,725.00
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-09-30 2024-03-31 2023-03-31 2022-03-31 2021-09-30 2021-06-30 2021-03-31
Revenues 73,468.00 70,008.00 62,465.00 67,771.00 50,303.00 34,409.00 21,625.00 14,638.00 6,591.00 884.00
Cost Of Revenue 8,177.00 7,115.00 8,574.00 6,035.00 7,752.00 421.00 256.00 254.00 308.00 48.00
Interest Income 3,316.00 3,190.00 4,636.00 4,267.00 5,809.00 0 0 0 0 0
Interest Expense 1,099.00 1,117.00 1,067.00 1,208.00 1,283.00 0.00 0.00 0.00 0.00 0.00
Net Interest 0 0 3,569.00 0 4,526.00 3,814.00 262.00 106.00 0 0
Non-Interest Expense 26,182.00 26,018.00 0 39,639.00 0 0 0 0 0 0
Gross Profit 65,291.00 62,893.00 53,891.00 61,736.00 42,551.00 33,988.00 21,369.00 14,384.00 6,283.00 836.00
Operating Expenses 35,546.00 42,696.00 32,044.00 49,988.00 55,804.00 63,572.00 59,251.00 64,737.00 53,417.00 51,379.00
   Selling, General and Administrative Expenses 26,182.00 26,018.00 20,339.00 39,639.00 47,695.00 50,124.00 45,197.00 44,128.00 43,786.00 39,282.00
   Research and Development Expenses 8,435.00 7,432.00 5,743.00 3,047.00 5,551.00 13,158.00 16,620.00 20,066.00 10,091.00 9,833.00
   Other Operating Expenses 929.00 9,246.00 5,962.00 4,574.00 2,558.00 290.00 -2,566.00 543.00 -460.00 2,264.00
Operating Income 29,745.00 20,197.00 21,847.00 11,748.00 -13,253.00 -29,584.00 -37,882.00 -50,353.00 -47,134.00 -50,543.00
Net Non-Operating Income 0 0 2,502.00 0 3,243.00 3,814.00 262.00 106.00 142.00 172.00
EBT 31,962.00 22,156.00 24,349.00 14,807.00 -10,010.00 -25,770.00 -37,620.00 -50,247.00 -46,992.00 -50,371.00
Income Tax 411.00 643.00 1,005.00 457.00 739.00 436.00 10.00 8.00 18.00 8.00
Net Income Including Non-Controlling Interests 31,551.00 21,513.00 0 14,350.00 0 0 0 0 0 0
Net Income 31,551.00 21,513.00 23,344.00 14,350.00 -10,749.00 -26,206.00 -37,630.00 -50,255.00 -47,010.00 -50,379.00
EBIT 33,061.00 23,273.00 25,416.00 16,015.00 -8,727.00 -25,770.00 -37,620.00 -50,247.00 -46,992.00 -50,371.00
Deprecation and Amortization 4,865.00 4,864.00 2,200.00 4,893.00 1,641.00 1,894.00 838.00 717.00 736.00 688.00
EBITDA 37,926.00 28,137.00 27,616.00 20,908.00 -7,086.00 -23,876.00 -36,782.00 -49,530.00 -46,256.00 -49,683.00
EPS 0.00 0.00 0.00 0.00 -0.00 -0.00 -0.00 -0.00 -0.00 0
Diluted EPS 0.00 0.00 0.00 0.00 -0.00 -0.00 -0.00 -0.00 -0.00 0
Average Shares Outstanding Basic 131,808.00 134,873.00 138,917.00 143,051.00 144,013.00 142,641.00 141,675.00 128,443.00 128,222.00 0
Average Shares Outstanding Diluted 136,008.00 137,526.00 143,199.00 145,651.00 144,013.00 142,641.00 141,675.00 128,443.00 128,222.00 0
Breakdown 2025-09-30 2025-06-30 2025-03-31 2024-09-30 2024-03-31 2023-03-31 2022-03-31 2021-09-30 2021-06-30 2021-03-31
Operating Cash Flow 44,449.00 44,241.00 1,300.00 17,029.00 -18,598.00 -31,670.00 -46,746.00 0 0 -53,541.00
   Operating Net Income 31,551.00 21,513.00 23,344.00 14,350.00 -10,749.00 -26,206.00 -37,630.00 -50,255.00 -47,010.00 -50,379.00
   Deprecation and Amortization 4,865.00 4,864.00 2,200.00 4,893.00 1,641.00 -1,894.00 838.00 717.00 736.00 688.00
   Deferred Income Tax 0 0 0 0 0 0 0 0 0 0
   Share Based Compensation 5,919.00 5,440.00 -3,409.00 8,327.00 5,737.00 9,467.00 7,023.00 0 0 7,821.00
   Change in Working Capital 3,966.00 5,727.00 -1,567.00 -11,408.00 -10,761.00 -13,254.00 -18,491.00 0 0 -9,762.00
   Other Operating Activities -1,852.00 6,697.00 -19,268.00 867.00 -4,466.00 217.00 1,514.00 0 0 -1,909.00
Investing Cash Flow -13,772.00 -13,273.00 31,032.00 -10,572.00 49,233.00 24,860.00 -53,017.00 0 0 -67,247.00
   Capital Expenditure 0 0 -17.00 -129.00 -12.00 -509.00 -79.00 0.00 0.00 -1,181.00
   Net Purchase/Sale of PPE -65.00 -98.00 -17.00 140.00 -12.00 -509.00 -79.00 -3,500.00 -3,500.00 -1,181.00
   Net Purchase/Sale of Investments Net -13,707.00 -13,175.00 31,049.00 -10,443.00 49,245.00 25,369.00 -52,938.00 0 0 -54,228.00
   Net Purchase/Sale of Business 0 0 0 0 0 0 0 0 0 0
   Other Investing Activities 0 0 17.00 -140.00 12.00 509.00 79.00 0 0 -10,657.00
Financing Cash Flow -10,490.00 -44,394.00 -49,337.00 -2,722.00 -15,051.00 1,639.00 405.00 0 0 5,029.00
   Net Issuance/Repayment of Debt -3,448.00 -3,430.00 -2,771.00 -2,958.00 -2,778.00 0 0 0 0 11,800.00
   Net Issuance/Repurchase of Equity -8,671.00 -42,564.00 56,209.00 0 12,329.00 1,639.00 405.00 0 0 5,029.00
   Dividends Paid 0 0 0 0 0 0 0 0 0 0
   Other Financing Activities 1,629.00 1,600.00 -102,775.00 236.00 -24,602.00 0.00 0.00 0 0 -11,800.00
Net Change in Cash 20,187.00 -13,426.00 -17,005.00 3,735.00 15,584.00 -5,171.00 -99,358.00 0 0 -115,759.00
   Cash at Beginning of Period 53,002.00 66,428.00 83,433.00 33,407.00 48,875.00 94,172.00 231,900.00 0 0 272,350.00
   Cash at End of Period 73,189.00 53,002.00 66,428.00 37,142.00 64,459.00 89,001.00 132,542.00 57,587.00 121,561.00 156,591.00
Free Cash Flow 44,384.00 44,143.00 1,283.00 16,944.00 -18,610.00 -32,179.00 -46,825.00 0 0 -54,722.00