Gafisa S.A. (GFASY)
Gafisa S.A. is a leading Brazilian real estate firm that specializes in home construction, operating under its proprietary Gafisa brand. The company is involved in the entire process of property development, sales, and brokerage. Its offerings include a diverse portfolio of residential properties: luxury buildings, replete with premium amenities such as swimming pools, gyms, and visitor parking, which cater to affluent and mid-income customers; and more affordable apartment complexes and houses designed for lower-middle-income segments. Gafisa also develops and sells commercial units. Beyond direct property sales, Gafisa expands its activities by developing land parcels for future sale. Additionally, it offers construction, technical consultancy, and real estate management services to third-party clients. Gafisa S.A. was founded in 1954 and is headquartered in São Paulo, Brazil.
Sector: General Bldg Contractors - Residential Bldgs
Industry: Residential Construction
Gafisa S.A.
OTC:GFASYConsumer Cyclical · Residential Construction
Mkt Cap-
Float54.31M
O/S-
Inst Own-
SI<0.1%
Dilution
Delisting Issues Timeline
Financials Summary
Revenue$108.71M
Net Income-$95.53M
Total Assets$853.68M
Free Cash Flow-$34.87M
Debt & Equity
Debt 51%
Equity 49%
Total Debt$287.01M
Total Equity$274.9M
Shares Outstanding
Short Interest
Split History1 split · 1 reverse
- 1:9Reverse splitOct 11, 20229 shares → 1
Balance Sheet Details
Assets$853.68M
Liabilities$578.78M
Accounts Receivable$198.02M
Accounts Payable$21.72M
Inventory$209.57M
PP&E (Net)$3.03M
Goodwill$0
Intangible Assets$3.84M
Income Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 | FY 2013 | FY 2012 | FY 2011 | FY 2010 | FY 2009 | FY 2008 | FY 2007 | FY 2006 | FY 2005 | FY 2004 | FY 2003 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 | 2015-12-31 | 2014-12-31 | 2013-12-31 | 2012-12-31 | 2011-12-31 | 2010-12-31 | 2009-12-31 | 2008-12-31 | 2007-12-31 | 2006-12-31 | 2005-12-31 | 2004-12-31 | 2003-12-31 |
| Revenue | $108.71M | $181.15M | $197.47M | $203.28M | $146.43M | $158.19M | $71.66M | $171.94M | $108.94M | $163.86M | $410.55M | $384.9M | $443.99M | $707.41M | $526.18M | $665.82M | $540.83M | $311.43M | $217.88M | $123.35M | $85.98M | $74.62M | $73.48M |
| YoY Growth | -40.0% | -8.3% | -2.9% | 38.8% | -7.4% | 120.8% | -58.3% | 57.8% | -33.5% | -60.1% | 6.7% | -13.3% | -37.2% | 34.4% | -21.0% | 23.1% | 73.7% | 42.9% | 76.6% | 43.5% | 15.2% | 1.6% | - |
| Cost of Revenue | $146.35M | $190.87M | $205.78M | $181.55M | $109.1M | $125.76M | $50.58M | $151.42M | $146.51M | $184.17M | $298.39M | $287.96M | $333.51M | $526.27M | $479.27M | $471.43M | $383.61M | $217.31M | $142.59M | $83.15M | $56.91M | $52.33M | $48.08M |
| Gross Profit | -$37.64M | -$9.72M | -$8.31M | $21.72M | $37.33M | $32.43M | $21.08M | $20.53M | -$37.56M | -$20.31M | $112.16M | $96.94M | $110.49M | $181.14M | $46.91M | $194.39M | $157.22M | $94.12M | $75.29M | $40.21M | $29.07M | $22.28M | $25.4M |
| Gross Margin | -34.6% | -5.4% | -4.2% | 10.7% | 25.5% | 20.5% | 29.4% | 11.9% | -34.5% | -12.4% | 27.3% | 25.2% | 24.9% | 25.6% | 8.9% | 29.2% | 29.1% | 30.2% | 34.6% | 32.6% | 33.8% | 29.9% | 34.6% |
| Research and Development | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $179K | $179K | $215K | $179K | $1.29M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Selling, General, and Administrative | $10.16M | $16.09M | $16.41M | $19.63M | $28.4M | $19.78M | $12.35M | $25.32M | $32.26M | $36.06M | $61.68M | $64.41M | $80.47M | $117.21M | $115.35M | $85.77M | $82.27M | $59.99M | $39.43M | $23.93M | $14.76M | $10.68M | $0 |
| Other | $12.45M | $12.18M | $14.84M | -$12.05M | $3.74M | $1.54M | -$9.45M | $6.26M | -$313K | -$1.47M | -$7.47M | -$25.29M | -$15.41M | -$521K | $14.93M | $6.05M | -$7.58M | $4.04M | -$55K | $2.13M | $5M | $6.14M | $0 |
| Total Operating Expenses | $22.61M | $28.27M | $31.25M | $30.97M | $32.13M | $21.32M | $2.9M | $31.59M | $42.55M | $42.13M | $98.83M | $78.59M | $91.74M | $132.88M | $136.46M | $94M | $74.69M | $64.03M | $39.37M | $26.06M | $19.76M | $16.83M | $0 |
| Operating Income (EBIT) | -$60.25M | -$37.99M | -$39.56M | -$9.24M | $7.27M | $8.04M | $15.48M | -$11.06M | -$154.63M | -$62.44M | $20.81M | $18.35M | $71.91M | $30.74M | -$107.89M | $100.39M | $82.52M | $30.1M | $27.77M | $9.3M | $5.06M | $5.45M | $25.4M |
| Operating Margin | -55.4% | -21.0% | -20.0% | -4.5% | 5.0% | 5.1% | 21.6% | -6.4% | -141.9% | -38.1% | 5.1% | 4.8% | 16.2% | 4.3% | -20.5% | 15.1% | 15.3% | 9.7% | 12.7% | 7.5% | 5.9% | 7.3% | 34.6% |
| Interest Expense | $23.34M | $17.01M | $23.91M | $13.36M | $7.32M | $11.13M | $3.23M | $12.99M | $24.52M | $6.77M | $29.03M | $29.65M | $43.59M | $30.59M | $45.25M | $37.61M | $37.65M | $10.92M | $6.31M | $11.59M | $6.5M | $6.74M | $0 |
| Interest Income | $1.82M | $1.94M | $8.85M | $440K | $144K | $2.18M | $764K | $876K | $5.32M | $123K | $22.21M | $28.06M | $14.51M | $1.17M | $16.64M | $22.92M | $23.18M | $18.4M | $8.85M | $9.46M | $1.5M | $591K | $0 |
| Other Income (Expense) | -$45.54M | $37.15M | $13.2M | -$7.37M | -$7.98M | -$13.06M | -$17.56M | -$74.48M | -$93.4M | -$23.28M | -$21.12M | -$4.86M | $12.48M | -$39.29M | -$65.14M | -$44.8M | -$19.86M | $7.49M | $0 | -$598K | -$183K | -$260K | -$15.76M |
| Income Before Tax (EBT) | -$105.8M | -$844K | -$26.37M | -$8.79M | $31.31M | -$12.42M | -$8.84M | -$79.28M | -$173.83M | -$89.82M | $13.99M | -$5.09M | $42.83M | -$6.29M | -$136.5M | $85.69M | $68.06M | $37.59M | $27.77M | $9.3M | $4.88M | $5.19M | $9.65M |
| Income Tax Expense | -$10.27M | $6.44M | $8.23M | $3.93M | $15.21M | $1.36M | -$6.31M | -$3.89M | -$4.13M | $17.91M | $1.28M | $2.73M | $503K | $7.38M | $25.47M | $6.96M | $17.07M | $7.77M | $5.54M | $1.08M | -$609K | $998K | $1.87M |
| Net Income | -$95.53M | -$7.26M | -$34.95M | -$14.88M | $16.14M | -$13.78M | -$2.52M | -$75.07M | -$152.08M | -$208.22M | $13.32M | -$7.61M | $155.22M | -$22.28M | -$169.08M | $74.45M | $38.21M | $19.67M | $20.33M | $8.22M | $5.49M | $4.2M | $7.77M |
| Net Income Margin | -87.9% | -4.0% | -17.7% | -7.3% | 11.0% | -8.7% | -3.5% | -43.7% | -139.6% | -127.1% | 3.2% | -2.0% | 35.0% | -3.1% | -32.1% | 11.2% | 7.1% | 6.3% | 9.3% | 6.7% | 6.4% | 5.6% | 10.6% |
| Supplementary Data | |||||||||||||||||||||||
| EPS | -13.36 | -1.02 | -5.26 | -3.78 | 4.08 | -6.38 | -2.76 | -145.32 | -446.94 | -545.06 | 34.44 | -19.14 | 355.86 | -48.98 | -372.24 | 171.52 | 108.86 | 71.06 | 74.62 | 36.16 | 105.88 | 80.96 | 149.94 |
| Diluted EPS | -13.36 | -1.02 | -5.26 | -3.78 | 4.08 | -6.38 | -2.76 | -145.32 | -446.94 | -545.06 | 34.44 | -19.14 | 355.86 | -48.98 | -372.24 | 170.20 | 108.86 | 71.06 | 74.62 | 36.16 | 22.88 | 16.02 | 29.68 |
| Weighted Average OS | 40.10M | 39.43M | 37.12M | 21.97M | 19.88M | 12.08M | 5.10M | 2.89M | 1.90M | 2.13M | 2.16M | 2.22M | 2.44M | 2.54M | 2.54M | 2.43M | 1.96M | 1.55M | 1.52M | 1.22M | 289,663 | 289,663 | 289,663 |
| EBITDA | -$57.48M | $18.67M | $1.41M | -$15.09M | $7M | $798K | $34.09M | -$62.47M | -$132.58M | -$72.89M | $30.24M | $37.31M | $29.15M | -$2.39M | -$133.48M | $89.48M | $81.51M | $57.92M | $38.57M | $14.15M | $9.31M | $6.3M | $25.4M |
| EBITDA Margin | -52.9% | 10.3% | 0.7% | -7.4% | 4.8% | 0.5% | 47.6% | -36.3% | -121.7% | -44.5% | 7.4% | 9.7% | 6.6% | -0.3% | -25.4% | 13.4% | 15.1% | 18.6% | 17.7% | 11.5% | 10.8% | 8.4% | 34.6% |
Balance Sheet
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 | FY 2013 | FY 2012 | FY 2011 | FY 2010 | FY 2009 | FY 2008 | FY 2007 | FY 2006 | FY 2005 | FY 2004 | FY 2003 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 | 2015-12-31 | 2014-12-31 | 2013-12-31 | 2012-12-31 | 2011-12-31 | 2010-12-31 | 2009-12-31 | 2008-12-31 | 2007-12-31 | 2006-12-31 | 2005-12-31 | 2004-12-31 | 2003-12-31 |
| Assets | |||||||||||||||||||||||
| Current Assets | |||||||||||||||||||||||
| Cash and Cash Equivalents | $3.16M | $1.6M | $2.21M | $4.12M | $6.34M | $5.2M | $2.23M | $5.78M | $5.1M | $5.28M | $127.46M | $19.66M | $38.51M | $112.22M | $24.62M | $45.88M | $254.82M | -$116.81M | $14.24M | $8.07M | $4.66M | $4.9M | $0 |
| Short-Term Investments | $34.1M | $59.87M | $11.81M | $78.28M | $74.69M | $74.71M | $65.91M | $17.52M | $21.28M | $36.04M | $0 | $187.42M | $323.7M | $118.5M | $151.4M | $169.06M | $0 | $225.16M | $77.81M | $39.44M | $19.28M | $3.32M | $0 |
| Cash and Short-Term Investments | $37.25M | $61.47M | $14.01M | $82.4M | $81.03M | $79.91M | $68.14M | $23.3M | $26.39M | $41.32M | $127.46M | $207.08M | $362.21M | $230.72M | $176.02M | $214.94M | $254.82M | $108.35M | $92.05M | $47.51M | $23.94M | $8.21M | $0 |
| Accounts Receivable | $198.02M | $203.98M | $127.41M | $121.6M | $81.81M | $87.36M | $93.08M | $95.31M | $86.81M | $92.8M | $266.69M | $283.31M | $341.76M | $489.52M | $668.75M | $597.02M | $378.87M | $257.21M | $112.14M | $85.21M | $63.67M | $56.39M | $0 |
| Inventory | $209.57M | $261.6M | $310.86M | $454.34M | $300.58M | $222.58M | $140.77M | $173.32M | $176.18M | $200.9M | $355.42M | $303.45M | $258.04M | $412.31M | $315.34M | $3.8M | $3.36M | -$101.42M | $1.58M | $972K | $497K | $739K | $0 |
| Other Current Assets | $662K | $42.02M | $174.91M | $79.26M | $62.54M | $33.81M | $27.2M | $36.86M | $38.04M | $232.47M | $57.55M | $164.89M | $48.04M | $95.75M | $82.49M | $280.76M | $238.42M | $305.71M | $145.28M | $70.44M | $55.58M | $44.03M | $0 |
| Total Current Assets | $448.71M | $572.03M | $627.19M | $710.27M | $520.58M | $455.03M | $322.13M | $301.23M | $310.09M | $608.44M | $772.45M | $839.46M | $1.02B | $1.29B | $1.31B | $1.1B | $875.47M | $675.81M | $351.04M | $242.7M | $143.69M | $109.38M | $0 |
| Long-Term Assets | |||||||||||||||||||||||
| Property, Plant & Equipment Net | $3.03M | $3.93M | $3.65M | $4.86M | $7.88M | $4.51M | $2.53M | $3.59M | $4M | $4.29M | $8.8M | $8.35M | $6.51M | $8.38M | $9.45M | $103.61M | $84.56M | $9.01M | $3.49M | $1.91M | $1.15M | $1.32M | $0 |
| Goodwill | $0 | $0 | $28.86M | $0 | $28.86M | $0 | $0 | $0 | $0 | $0 | $4.56M | $4.56M | $7.71M | $30.67M | $32.77M | $34.63M | $34.63M | $34.91M | $37.11M | $0 | $0 | $0 | $0 |
| Intangible Assets | $3.84M | $3.99M | $4.74M | $34.04M | $1.17M | $811K | $1.27M | $2.11M | $7.27M | $5.05M | $9.28M | $9.2M | $11.32M | $10.5M | $8.35M | $2.94M | $1.99M | $3.23M | $1.41M | $216K | $0 | $0 | $0 |
| Long-Term Investments | $288.86M | $25.8M | $79.35M | $133.58M | $120.41M | $55.01M | $24.84M | $56.28M | $85.74M | $143.14M | $173.15M | $171.5M | $200.43M | $220.89M | $138.5M | $321.53M | $34.91M | $154.6M | $0 | -$216K | $0 | $0 | $0 |
| Deferred Tax Assets | $8.09M | $0 | $0 | $7.91M | $52.77M | $80.84M | $26.05M | $36.22M | $31.67M | $54.74M | $64.05M | $108.1M | $105.2M | $1.87M | $60.45M | $60.45M | $50.33M | $34.04M | $10.97M | $9.48M | $6.28M | $1.04M | $0 |
| Other Long-Term Assets | $101.16M | $343.06M | $173.53M | $99.04M | $113.33M | $74.83M | $79.83M | $52.63M | $76.26M | $116.65M | $168.62M | $148.26M | $116.74M | $59.14M | $142.83M | $89.15M | $328.78M | $79.53M | $123.89M | $12.64M | $17.81M | $22.23M | $0 |
| Total Long-Term Assets | $404.97M | $376.78M | $290.13M | $279.43M | $324.43M | $216M | $134.51M | $150.83M | $204.93M | $323.87M | $437.26M | $449.98M | $447.91M | $331.46M | $392.29M | $612.31M | $500.3M | $315.32M | $176.88M | $24.04M | $25.24M | $24.59M | $0 |
| Other Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $153.23M |
| Total Assets | $853.68M | $948.82M | $917.32M | $989.7M | $845M | $671.03M | $456.64M | $452.06M | $515.02M | $932.3M | $1.21B | $1.29B | $1.46B | $1.62B | $1.7B | $1.71B | $1.38B | $991.14M | $527.92M | $266.73M | $168.93M | $133.98M | $153.23M |
| Liabilities | |||||||||||||||||||||||
| Current Liabilities | |||||||||||||||||||||||
| Accounts Payable | $21.72M | $15.8M | $8.71M | $682K | $9.91M | $21.93M | $17.08M | $21.45M | $17.65M | $14.16M | $10.26M | $17.02M | $14.2M | $117.86M | $123.92M | $115.92M | $132.78M | $17.52M | $15.51M | $4.76M | $4.99M | $3.94M | $0 |
| Short-Term Debt | $173.84M | $231.64M | $177.27M | $132.97M | $73.72M | $84.57M | $108.23M | $66.82M | $107.41M | $183.22M | $196.75M | $193.6M | $241.55M | $171.84M | $543.04M | $147.53M | $143.28M | $91.16M | $12.3M | $5.06M | $9.73M | $18.5M | $0 |
| Current Income Tax Payable | $0 | $21.73M | $13.04M | $13.11M | $15.57M | $15.54M | $12.5M | $10.25M | $8.31M | $9.28M | $18.26M | $20.48M | $38.76M | $46.37M | $44.84M | $43.49M | $35.7M | $20.25M | $0 | $0 | $0 | $0 | $0 |
| Current Unearned Revenue | $0 | $0 | $0 | $73.9M | $115.26M | $95.87M | $75.65M | $20.28M | $28M | $56.42M | $64.67M | $107.94M | $171.48M | $152.24M | $172.53M | $60.45M | $20.98M | $23.39M | $0 | $0 | $0 | $0 | $0 |
| Other Current Liabilities | $124.63M | $104.91M | $161.95M | $128.62M | $156.73M | $151.36M | $96.6M | $96.44M | $87.11M | $204.64M | $148.88M | $184.09M | $207.14M | -$59.8M | $6.84M | $20.55M | $31.12M | $28.66M | $75.5M | $51M | $39.93M | $50.08M | $0 |
| Total Current Liabilities | $359.67M | $380.18M | $363.32M | $337.56M | $244.73M | $262.51M | $224.11M | $185.92M | $217.18M | $407.19M | $366.65M | $406.35M | $480.11M | $515.28M | $861.77M | $360.96M | $361.57M | $237.71M | $103.31M | $60.83M | $54.64M | $72.51M | $0 |
| Long-Term Liabilities | |||||||||||||||||||||||
| Long-Term Debt | $113.02M | $106.31M | $151.72M | $223.15M | $209.6M | $88.13M | $29.74M | $96.81M | $105.4M | $128.47M | $202.6M | $280.74M | $349.51M | $479.58M | $129.03M | $441.21M | $415.4M | $186.58M | $111.05M | $47.68M | $46.95M | $8.62M | $0 |
| Long-Term Unearned Revenue | $31.56M | $32.5M | $18.11M | $30.29M | $22.7M | $38.91M | $40.44M | $66.48M | $27.27M | $33.23M | $44.47M | $49.7M | $51.26M | $89.32M | $69.48M | $22.28M | $1.86M | $36.75M | $0 | $0 | $0 | $0 | $0 |
| Long-Term Deferred Tax Liabilities | $19.06M | $23.68M | $20.84M | $24.45M | $15.51M | $2.62M | $2.17M | $8.83M | $13.33M | $17.97M | $2.95M | $6.22M | $10.14M | $14.58M | $14.85M | $75.94M | $60.18M | $42.79M | $11.32M | $5.76M | $2.3M | $1.2M | $0 |
| Other Long-Term Liabilities | $55.46M | $56.85M | $96.77M | $111.75M | $28.68M | $0 | $0 | $5.75M | $29.28M | $17.97M | $41.76M | $5.35M | $8.21M | $114.77M | $134.42M | $131.36M | $83.93M | $73.06M | $25.27M | $7.15M | $16.72M | $25.42M | $0 |
| Total Long-Term Liabilities | $219.11M | $219.34M | $248.49M | $334.89M | $275.33M | $129.67M | $72.35M | $177.88M | $161.95M | $179.67M | $288.84M | $335.8M | $408.98M | $626.13M | $347.79M | $670.8M | $587.56M | $380.55M | $147.63M | $60.58M | $65.97M | $35.24M | $0 |
| Other Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $131.31M |
| Total Liabilities | $578.78M | $599.52M | $611.82M | $672.46M | $520.05M | $392.17M | $296.46M | $363.81M | $379.13M | $586.87M | $655.48M | $742.15M | $889.08M | $1.14B | $1.21B | $1.03B | $949.13M | $618.25M | $250.95M | $121.41M | $120.61M | $107.76M | $131.31M |
| Stockholders' Equity | |||||||||||||||||||||||
| Preferred Stock | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $26.38M | $8.88M | $0 |
| Common Stock | $383.66M | $304.49M | $253.41M | $224.21M | $223.42M | $193.84M | $523.63M | $451.17M | $451.14M | $490.42M | $490.42M | $490.42M | $490.42M | $489.55M | $489.26M | $0 | $348.17M | $220.01M | $0 | $0 | $5.36M | $0 | $0 |
| Retained Earnings | -$111.65M | -$13.53M | -$6.27M | $51.38M | $66.26M | $25.75M | -$416.34M | -$413.07M | -$326.02M | -$154.21M | $54.39M | $57.95M | $83.88M | -$40.53M | -$18.26M | $0 | $68.29M | $39.16M | $0 | $0 | -$5.36M | $0 | $0 |
| Comprehensive Income & Other | $3.36M | $7.62M | $0 | $41.99M | $101.87M | $86.21M | $60.41M | $60.37M | $15.29M | $14.66M | $68.14M | $70.46M | $93.61M | $6.61M | $3.23M | $150.9M | $125.28M | $0 | $28.57M | $18.22M | $11.98M | $10.25M | $0 |
| Other Stockholders' Equity | $2.89M | $58.19M | $58.19M | $41.52M | $35.14M | $59.99M | $52.63M | $49.82M | $10.09M | $8.84M | $9.1M | -$1.64M | -$3.34M | $6.3M | $2.92M | $666.06M | -$310K | $29.36M | $273.9M | $145.32M | $48.32M | $26.22M | $21.92M |
| Total Equity | $274.9M | $349.15M | $305.33M | $317.1M | $324.82M | $279.58M | $159.92M | $87.92M | $135.2M | $345.06M | $553.91M | $546.73M | $570.96M | $455.32M | $473.92M | $666.06M | $416.15M | $288.53M | $273.9M | $145.32M | $48.32M | $26.22M | $21.92M |
| Minority Interest | $5K | $145K | $171K | $143K | $126K | -$714K | $257K | $335K | $688K | $381K | $312K | $547K | $4.25M | $26.46M | $17.65M | $10.99M | $10.48M | $84.35M | $3.08M | $0 | $0 | $0 | $0 |
| Total Liabilities and Equity | $853.68M | $948.67M | $917.15M | $989.56M | $844.88M | $671.75M | $456.38M | $451.72M | $514.33M | $931.92M | $1.21B | $1.29B | $1.46B | $1.6B | $1.68B | $1.7B | $1.37B | $906.78M | $524.84M | $266.73M | $168.93M | $133.98M | $153.23M |
| Supplementary Data | |||||||||||||||||||||||
| Total Debt | $287.01M | $337.95M | $328.1M | $356.12M | $280.8M | $167.27M | $130.75M | $159.15M | $197.71M | $293.03M | $384.87M | $462.84M | $547.48M | $700.8M | $672.07M | $588.74M | $584.88M | $394.55M | $123.34M | $52.74M | $56.68M | $27.12M | $0 |
| Net Debt | $283.85M | $336.35M | $325.89M | $352M | $274.46M | $162.08M | $128.52M | $153.37M | $192.61M | $287.75M | $257.41M | $443.17M | $508.97M | $588.58M | $647.45M | $542.86M | $330.06M | $511.36M | $109.1M | $44.67M | $52.02M | $22.23M | $0 |
Cash Flow Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 | FY 2014 | FY 2013 | FY 2012 | FY 2011 | FY 2010 | FY 2009 | FY 2008 | FY 2007 | FY 2006 | FY 2005 | FY 2004 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 | 2015-12-31 | 2014-12-31 | 2013-12-31 | 2012-12-31 | 2011-12-31 | 2010-12-31 | 2009-12-31 | 2008-12-31 | 2007-12-31 | 2006-12-31 | 2005-12-31 | 2004-12-31 |
| Operating Activities | ||||||||||||||||||||||
| Net Income | -$95.53M | -$844K | -$26.37M | -$14.88M | $31.31M | -$12.42M | -$8.84M | -$79.28M | -$173.83M | -$89.82M | $13.99M | -$5.09M | $42.83M | -$6.29M | -$136.5M | $55.58M | $38.21M | $19.67M | $20.33M | $8.22M | $5.49M | $4.2M |
| Depreciation & Amortization | $2.77M | $2.5M | $3.87M | $5.67M | $3.74M | $1.48M | $2.54M | $3.81M | $5.73M | $6.06M | $8.49M | $8.23M | $11.28M | $15.67M | $14.93M | $6.05M | $5.94M | $9.42M | $2.65M | -$1.98M | -$25K | $842K |
| Deferred Income Tax | $0 | $0 | $0 | $144.24M | -$15.15M | $9.39M | $16.29M | $28.85M | $115.98M | $49.17M | $22.61M | $25.06M | -$50.52M | $17.42M | $168.39M | -$57.89M | $13.47M | $3.39M | $3.35M | $240K | -$1.35M | $3K |
| Stock-Based Compensation | $0 | $895 | $57K | $263K | $359K | -$62K | -$423K | $345K | $888K | $1.22M | $1.4M | $5.94M | $3.12M | $3.38M | $3.16M | $2.31M | $2.58M | $0 | $0 | $0 | $0 | $0 |
| Changes in Working Capital: | ||||||||||||||||||||||
| Accounts Receivable | -$40.24M | -$51.25M | -$41.14M | -$7.35M | $30.86M | -$36.92M | $20.58M | -$17.13M | $46.54M | $51.71M | $1.95M | $70.08M | $46.62M | $103.87M | $10.46M | -$291.59M | -$299M | -$115.63M | $0 | $0 | $0 | $0 |
| Inventory | $70.65M | $85.1M | $91.26M | -$110.49M | -$83.53M | -$74.11M | $23.55M | $60.76M | $46.25M | $3.89M | -$23.43M | -$82.75M | -$33.99M | $61.46M | -$139.85M | -$81.89M | $0 | -$129.25M | $0 | $0 | $0 | $0 |
| Accounts Payable | $5.75M | $1.56M | $6.34M | -$7.45M | -$17.65M | $39.47M | -$22.32M | $5.96M | $3.34M | -$7.45M | -$3.51M | $21.33M | -$5.03M | -$24.62M | $42.38M | -$4.94M | $17.04M | $2.26M | $0 | $0 | $0 | $0 |
| Other Working Capital | -$906K | $10.58M | -$53.31M | $71.06M | $52.75M | -$8.05M | -$24.96M | -$4.75M | -$16.16M | -$9.06M | -$21.38M | -$50.66M | $33.86M | -$76.55M | -$114.76M | -$52.6M | -$230.13M | $36.37M | -$122.98M | -$68.13M | -$29.45M | -$5.88M |
| Total Working Capital Change | $35.26M | $44.44M | $3.15M | -$54.24M | -$17.57M | -$79.62M | -$3.16M | $44.84M | $79.98M | $39.11M | -$46.37M | -$42M | $41.46M | $64.16M | -$104.3M | -$344.19M | -$213.09M | -$206.26M | -$122.98M | -$68.13M | -$29.45M | -$5.88M |
| Other Non-Cash Items | $24.98M | -$17.34M | $43.02M | -$97.26M | -$52.78M | $181K | $1.47M | $7.06M | $8.26M | $17.99M | $15.92M | $15.36M | $5.1M | $20.57M | -$92.6M | $141.91M | $16.67M | $18.23M | $7.9M | -$56K | $539K | $179K |
| Net Cash from Operating | -$32.51M | $28.76M | $23.73M | -$16.21M | -$50.09M | -$81.04M | $7.88M | $5.63M | $37.02M | $23.73M | $16.42M | $7.5M | $53.26M | $116.48M | -$146.63M | -$196.23M | -$121.09M | -$145.39M | -$88.75M | -$54.67M | -$20.2M | $4.23M |
| Investing Activities | ||||||||||||||||||||||
| Capital Expenditures | -$2.36M | -$2.15M | -$2.67M | -$23.14M | -$7.47M | -$3M | -$641K | -$2.24M | -$3.66M | -$6.41M | -$9.77M | -$15.84M | -$14.49M | -$20.54M | -$16.98M | -$11.36M | -$8.07M | -$11.3M | -$6.1M | -$818K | -$286K | -$270K |
| Acquisitions | $0 | $5.5M | $0 | -$25.03M | -$46.18M | -$5.37M | $53.15M | -$828K | $18.35M | -$894K | -$293K | $0 | $158.88M | -$818.37M | $0 | $0 | $0 | $11.97M | -$13.99M | -$714K | -$712K | $0 |
| Purchases of Investments | -$15.32M | -$37.23M | -$148.19M | -$210.13M | -$163.77M | -$106.43M | -$69.31M | -$196.02M | -$193.11M | -$253.72M | -$967.47M | -$868.88M | -$854.79M | -$855.61M | -$428.86M | -$334.83M | -$309.82M | -$2.68M | $0 | $0 | $0 | $0 |
| Sales of Investments | $23.64M | $14.47M | $191.13M | $235.16M | $120.41M | $66.85M | $16.15M | $197.71M | $211.85M | $288.31M | $1.04B | $1.01B | $658.75M | $818.37M | $446.52M | $368.17M | $181.51M | $0 | $0 | $0 | $0 | $0 |
| Other Investing Activities | -$1 | $0 | -$5.42M | $25.03M | $46.18M | $5.37M | -$53.15M | $2.52M | $46.28M | $894K | -$179 | $8.92M | $61.23M | $818.37M | $0 | $0 | $5.31M | -$31K | $0 | $382 | $0 | $0 |
| Net Cash from Investing | $5.96M | -$19.4M | $40.27M | $1.89M | -$50.83M | -$42.58M | -$53.79M | -$548K | $79.71M | $28.18M | $64.68M | $134.56M | $9.57M | -$57.78M | $679K | $21.99M | -$2.76M | -$14.01M | -$20.08M | -$1.53M | -$997K | -$270K |
| Financing Activities | ||||||||||||||||||||||
| Debt Repaid | -$9.57M | $43.06M | $72.5M | -$12.1M | -$112.77M | -$41.23M | $21.18M | $20.9M | $73.73M | $24.85M | $12.91M | $13.53M | $22.28M | -$56.91M | -$98.59M | -$8.89M | -$241.92M | -$112.77M | -$66.07M | $10.88M | -$14.25M | $1.72M |
| Common Stock Issuance | $18.7M | $33.1M | $23.12M | $0 | $130K | $88.96M | $73.74M | $36.38M | $146K | $0 | $107K | $1.24M | $871K | $293K | $887K | $197.18M | $16.42M | $1.37M | $88.76M | $90.82M | $26.01M | $0 |
| Common Stock Repurchases | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | -$1.55M | -$4.32M | -$20.63M | -$12.77M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | -$3.1M | $0 |
| Dividends Paid | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | -$3.16M | $0 | -$26.85M | $0 | $0 | -$17.68M | -$9.07M | -$11.02M | -$4.83M | -$1.97M | $0 | $0 | $0 |
| Other Financing Activities | $0 | $0 | $0 | $0 | -$10.84M | -$6.04M | -$10.2M | $36.15M | -$19.88M | -$51.32M | -$75.19M | -$79.39M | -$52.24M | -$28.2M | $31.83M | -$32.34M | $28.31M | $53.85M | $398K | -$137K | -$229K | -$178K |
| Net Cash from Financing | $28.08M | -$9.96M | -$49.38M | $12.1M | $102.07M | $124.15M | $42.36M | -$4.4M | -$94.59M | -$57.53M | -$85.98M | -$160.89M | -$101.66M | $28.9M | $124.7M | $167.7M | $275.63M | $163.16M | $153.26M | $79.81M | $36.93M | -$1.9M |
| Forex Effect | $211K | $0 | $0 | -$179 | $0 | $2.44M | $0 | $0 | -$22.32M | -$3.87M | $0 | $0 | -$27.87M | $0 | $2K | $0 | $0 | $0 | -$319 | $0 | $0 | -$475 |
| Net Change in Cash | $1.74M | -$603K | -$1.91M | -$2.22M | $1.14M | $2.97M | -$3.56M | $676K | -$180K | -$5.63M | -$4.88M | -$18.84M | -$66.7M | $87.6M | -$21.26M | -$6.54M | $151.78M | $3.76M | $44.43M | $23.61M | $15.74M | $2.06M |
| Supplementary Data | ||||||||||||||||||||||
| Operating Cash Flow | -$32.51M | $28.76M | $23.73M | -$16.21M | -$50.09M | -$81.04M | $7.88M | $5.63M | $37.02M | $23.73M | $16.42M | $7.5M | $53.26M | $116.48M | -$146.63M | -$196.23M | -$121.09M | -$145.39M | -$88.75M | -$54.67M | -$20.2M | $4.23M |
| Capital Expenditure | -$2.36M | -$2.15M | -$2.67M | -$23.14M | -$7.47M | -$3M | -$641K | -$2.24M | -$3.66M | -$6.41M | -$9.77M | -$15.84M | -$14.49M | -$20.54M | -$16.98M | -$11.36M | -$8.07M | -$11.3M | -$6.1M | -$818K | -$286K | -$270K |
| Free Cash Flow | -$34.87M | $26.6M | $21.06M | -$39.36M | -$57.56M | -$84.04M | $7.24M | $3.39M | $33.35M | $17.32M | $6.65M | -$8.35M | $38.77M | $95.94M | -$163.62M | -$207.58M | -$129.16M | -$156.69M | -$94.85M | -$55.48M | -$20.48M | $3.96M |
| Cash at Beginning | $1.42M | $2.21M | $4.12M | $6.34M | $5.2M | $2.23M | $5.78M | $5.1M | $5.28M | $10.91M | $19.66M | $38.51M | $105.21M | $24.62M | $45.88M | $52.42M | $94.58M | $90.83M | $47.62M | $23.9M | $8.21M | $6.15M |
| Cash at End | $3.16M | $1.6M | $2.21M | $4.12M | $6.34M | $5.2M | $2.23M | $5.78M | $5.1M | $5.28M | $14.79M | $19.66M | $38.51M | $112.22M | $24.62M | $45.88M | $246.37M | $94.58M | $92.05M | $47.51M | $23.94M | $8.21M |