WEST (WEST) financial statements
WEST reported revenue of $1.2B in fiscal 2025, up 16.6% a year over 5 years.
Net income was -$90M and the operating margin -3.8%, against -21.9% in 2020.
Free cash flow was -$108M.
The diluted share count rose 179% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from WEST's 10-K filings with the SEC.
| Fiscal year | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| Revenue | $551M | $698M | $868M | $865M | $851M | $1.2B |
| Cost of revenue | $444M | $553M | $715M | $725M | $697M | $1.0B |
| Gross profit | $107M | $145M | $153M | $140M | $154M | $151M |
| Selling, general and admin | $116M | $129M | $130M | $145M | $185M | $185M |
| Operating income | -$121M | $8M | $9M | -$20M | -$49M | -$45M |
| Interest expense | $25M | $33M | $35M | $29M | $34M | $56M |
| Pre-tax income | -$146M | -$25M | -$55M | -$41M | -$76M | -$97M |
| Income tax | -$18M | -$3M | $111,000 | -$6M | $4M | -$2M |
| Net income | -$129M | -$22M | -$55M | -$35M | -$80M | -$90M |
| EPS (diluted) | -$4.32 | -$1.34 | -$1.60 | -$0.43 | -$0.89 | -$0.94 |
| Diluted shares | 34M | 34M | 48M | 81M | 90M | 95M |
| Gross margin | 19.5% | 20.8% | 17.6% | 16.2% | 18.1% | 12.7% |
| Operating margin | -21.9% | 1.1% | 1.0% | -2.4% | -5.8% | -3.8% |
| Net margin | -23.4% | -3.1% | -6.4% | -4.0% | -9.4% | -7.6% |
Balance sheet
Fiscal years, from WEST's 10-K filings with the SEC.
| Fiscal year | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| Cash and short-term investments | $19M | $19M | $17M | $37M | $26M | $50M |
| Receivables | — | $86M | $102M | $99M | $100M | $94M |
| Inventory | — | $109M | $146M | $150M | $163M | $200M |
| Total current assets | — | $238M | $298M | $313M | $334M | $396M |
| Property, plant and equipment | — | $128M | $185M | $344M | $467M | $484M |
| Goodwill | $97M | $97M | $114M | $116M | $116M | $116M |
| Total assets | $548M | $593M | $746M | $972M | $1.1B | $1.2B |
| Total current liabilities | — | $168M | $216M | $240M | $278M | $414M |
| Long-term debt | — | $277M | $163M | $223M | $326M | $357M |
| Total liabilities | — | $487M | $460M | $584M | $730M | $904M |
| Shareholders' equity | -$140M | -$179M | $9M | $114M | $97M | -$2M |
| Net debt | -$19M | $266M | $157M | $196M | $314M | $326M |
Cash flow
Fiscal years, from WEST's 10-K filings with the SEC.
| Fiscal year | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| Operating cash flow | -$13M | $3M | -$57M | -$64M | -$13M | -$19M |
| Capital spending | $19M | $25M | $63M | $165M | $160M | $89M |
| Free cash flow | -$33M | -$22M | -$120M | -$229M | -$173M | -$108M |
| Stock-based compensation | $2M | $1M | $3M | $9M | $12M | $15M |
| Net borrowing | $231M | $8M | -$110M | $59M | $97M | $59M |
| Free cash flow margin | -6.0% | -3.2% | -13.8% | -26.4% | -20.3% | -9.1% |
Every line, every quarterThe deep dive has fifteen-plus years of statements, quarterly results, charts and valuation models for WEST.
Open WEST in InvestinglyQuestions
What was WEST's revenue in 2025?
$1.2B in fiscal 2025, from its 10-K filing.
How much free cash flow does WEST generate?
-$108M in fiscal 2025 (operating cash flow minus capital spending).
From WEST's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.