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Financials (2022)
Revenue
$725M
Revenue Growth YoY
33.9%
EBITDA
negative
Net Income
$-369M
Stock Price
Market Cap
Stock-Based Compensation (2022)
SBC Expense
$200M
SBC % of Revenue
27.6%
SBC % of EBITDA
neg EBITDA
SBC % of Market Cap
Buybacks
Unrecognized SBC
SBC % of Revenue — Historical
SBC vs Buybacks ($M) — Historical
SBC % Revenue vs SBC % Market Cap
Revenue-based SBC % is the P&L view. Market-cap-based % is the shareholder dilution view — how much of the company is given away each year.
Market Cap vs Cumulative SBC
Total SBC expense paid since earliest data year vs current market cap. Shows the cumulative cost of stock-based compensation relative to company size.
GAAP vs "Adjusted" Earnings
GAAP net income already includes SBC as a real expense. But many companies highlight "adjusted" earnings that add SBC back, flattering profitability. The orange gap shows how much non-GAAP metrics overstate real earnings each year.
Ownership Retained Over Time
100 = your original ownership at the earliest data year. Net share issuance drives this down.
Annual Gross Dilution vs Buyback Offset
Red = gross share issuance from SBC. Green = shares retired via buybacks. Both as % of prior-year shares.
Year-by-Year Detail
Year SBC ($) Revenue ($) EBITDA ($) SBC % Rev SBC % EBITDA Rev Growth Buybacks ($) Net Income ($) Shares (EOY) Price (EOY) Market Cap SBC % MCap Unrecognized SBC ($)
2022 $200M $725M $-98M 27.6% neg 33.9% $-369M 75,066,000
2021 $149M $542M $-94M 27.6% neg 307.4% $-180M 72,852,361
2020 $81M $133M $-45M 61.2% neg 30.6% $-61M 64,826,135
2019 $53M $102M $-37M 52.0% neg 50.9% $-26M 61,043,546
2018 $30M $67M $-37M 44.0% neg 42.5% $22M $-10M 56,616,774
2017 $9M $47M $-31M 20.0% neg 33.6% $137M $11M 50,495,239
2016 $11M $35M $-42M 29.8% neg -30.3% $-64K $7M 5,758,338
2015 IPO $2M $51M $-25M 3.6% neg $-27M