PD (PD) financial statements
PD reported revenue of $493M in fiscal 2026, up 25.6% a year over 8 years.
Net income was $173M and the operating margin 1.2%, against -48.1% in 2018.
Free cash flow was $103M, and the company returned $135M in net buybacks.
The diluted share count rose 365% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from PD's 10-K filings with the SEC.
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | $80M | $118M | $166M | $214M | $281M | $371M | $431M | $467M | $493M |
| Cost of revenue | $13M | $17M | $25M | $31M | $48M | $70M | $78M | $80M | $74M |
| Gross profit | $67M | $101M | $142M | $183M | $233M | $300M | $353M | $388M | $418M |
| Research and development | $34M | $39M | $49M | $65M | $96M | $135M | $140M | $141M | $127M |
| Selling, general and admin | $72M | $104M | $148M | $185M | $239M | $295M | $309M | $306M | $286M |
| Operating income | -$38M | -$42M | -$56M | -$66M | -$102M | -$129M | -$96M | -$60M | $6M |
| Interest expense | $702,000 | $0 | $0 | $10M | $5M | $5M | $6M | $9M | $9M |
| Pre-tax income | -$38M | -$40M | -$50M | -$73M | -$107M | -$130M | -$77M | -$42M | $20M |
| Income tax | $184,000 | $701,000 | $675,000 | -$4M | $535,000 | -$839,000 | -$12,000 | $2M | -$153M |
| Net income | -$38M | -$41M | -$50M | -$69M | -$107M | -$128M | -$75M | -$43M | $173M |
| EPS (diluted) | -$1.91 | -$1.90 | -$0.77 | -$0.87 | -$1.27 | -$1.45 | -$0.89 | -$0.59 | $1.87 |
| Diluted shares | 20M | 21M | 66M | 80M | 85M | 89M | 92M | 92M | 93M |
| Gross margin | 84.0% | 85.4% | 85.2% | 85.6% | 82.8% | 81.0% | 81.9% | 83.0% | 84.9% |
| Operating margin | -48.1% | -35.9% | -33.4% | -31.0% | -36.1% | -34.9% | -22.3% | -12.8% | 1.2% |
| Net margin | -47.9% | -34.6% | -30.3% | -32.3% | -38.2% | -34.6% | -17.5% | -9.1% | 35.2% |
Balance sheet
Fiscal years, from PD's 10-K filings with the SEC.
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $44M | $128M | $351M | $560M | $543M | $477M | $571M | $571M | $470M |
| Receivables | — | $34M | $37M | $55M | $75M | $91M | $100M | $107M | $108M |
| Total current assets | — | $173M | $405M | $638M | $645M | $600M | $703M | $712M | $612M |
| Property, plant and equipment | — | $6M | $12M | $13M | $18M | $18M | $18M | $21M | $29M |
| Goodwill | — | — | $0 | $72M | $72M | $119M | $137M | $137M | $137M |
| Total assets | — | $197M | $435M | $795M | $806M | $818M | $925M | $927M | $991M |
| Total current liabilities | — | $89M | $115M | $173M | $227M | $271M | $282M | $369M | $304M |
| Total liabilities | — | $93M | $127M | $429M | $539M | $576M | $746M | $779M | $720M |
| Shareholders' equity | -$56M | -$69M | $308M | $367M | $267M | $241M | $172M | $130M | $254M |
| Net debt | -$44M | -$128M | -$124M | -$339M | -$350M | -$274M | -$363M | -$346M | -$237M |
Cash flow
Fiscal years, from PD's 10-K filings with the SEC.
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$12M | -$6M | -$173,000 | $10M | -$6M | $17M | $72M | $118M | $115M |
| Capital spending | $822,000 | $4M | $5M | $5M | $7M | $8M | $8M | $9M | $12M |
| Free cash flow | -$13M | -$10M | -$5M | $5M | -$13M | $9M | $64M | $108M | $103M |
| Stock-based compensation | $18M | $19M | $27M | $43M | $70M | $110M | $127M | $126M | $98M |
| Share buybacks (net) | — | — | — | — | $0 | $0 | -$50M | -$100M | -$135M |
| Net borrowing | -$10M | $0 | $0 | — | — | — | — | — | — |
| Free cash flow margin | -15.9% | -8.3% | -3.2% | 2.5% | -4.6% | 2.3% | 15.0% | 23.2% | 20.8% |
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Open PD in InvestinglyQuestions
What was PD's revenue in 2026?
$493M in fiscal 2026, from its 10-K filing.
How much free cash flow does PD generate?
$103M in fiscal 2026 (operating cash flow minus capital spending).
From PD's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.