← UL Solutions Inc.
| Annual Trend | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | $25.1m |
$31.7m
+26.51%
|
$31.0m
-2.21%
|
$2.5b
+8016.78%
|
$2.7b
+6.27%
|
$2.9b
+7.17%
|
$3.1b
+6.38%
|
$3.1b
+3.05%
|
|
| Cost of revenue | $14.3m |
$15.6m
+9.27%
|
$16.1m
+3.36%
|
$1.3b
+8043.21%
|
$1.4b
+6.47%
|
$1.5b
+5.65%
|
$1.5b
+4.47%
|
$1.6b
+1.10%
|
|
| Cost of sales | $14.3m |
$15.6m
+9.27%
|
$16.1m
+3.36%
|
$23.9m
+48.34%
|
— | — | — | $1.6b | |
| Operating expense excluding cost of sales | $13.9m |
$18.0m
+29.56%
|
$32.1m
+78.72%
|
— | — | — | — | $987.0m | |
| Gross profit | $10.8m |
$16.2m
+49.26%
|
$14.9m
-7.60%
|
$21.9m
+46.93%
|
$1.3b
+5737.90%
|
$1.4b
+8.83%
|
$1.5b
+8.40%
|
$1.6b
+5.03%
|
|
| Research and development expenses | $995k | $1.1m | $1.1m | $734k | — | — | — | — | |
| Selling, general and administrative expenses | — | — | — | $795.0m | $875.0m | $931.0m | $953.0m | $987.0m | |
| Restructuring | — | — | — | — | $4.0m | ($1.0m) | $35.0m | $37.0m | |
| Restructuring costs | — | — | $433k | $323k | — | — | — | — | |
| Operating income | ($4.4m) |
($12.1m)
-173.20%
|
($18.7m)
-54.97%
|
$412.0m
+2299.09%
|
$368.0m
-10.68%
|
$462.0m
+25.54%
|
$522.0m
+12.99%
|
$599.0m
+14.75%
|
|
| Interest expense | ($1.5m) | $4.9m | $1.3m | ($17.0m) | ($35.0m) | ($55.0m) | ($41.0m) | $32.0m | |
| Exchange gain (loss) on translating foreign operations | ($263k) | $56k | $153k | ($1.3m) | — | — | — | — | |
| Other income | ($761k) | ($10k) | ($12k) | ($1k) | — | — | — | — | |
| Income before income taxes | — | — | — | $383.0m | $346.0m | $415.0m | $470.0m | $719.0m | |
| Income tax expense | $99k | ($944k) | $944k | $74.0m | $70.0m | $70.0m | $125.0m | $190.0m | |
| Current income tax (recovery) expense (note 21) | ($94k) | $107k | ($875) | ($105k) | — | — | — | — | |
| Deferred income tax (recovery) expense (note 21) | ($6k) | ($1.1m) | $945k | ($504k) | — | — | — | — | |
| Net income | ($4.4m) |
($12.1m)
-173.20%
|
($18.7m)
-54.97%
|
$309.0m
+1749.32%
|
$276.0m
-10.68%
|
$345.0m
+25.00%
|
$345.0m
0.00%
|
$506.0m
+46.67%
|
|
| Less: net income attributable to non-controlling interests | — | — | — | $16.0m | $16.0m | $19.0m | $20.0m | — | |
| Net income attributable to stockholders of UL Solutions | — | — | — | $293.0m | $260.0m | $326.0m | $325.0m | $506.0m | |
| Net loss for the year | ($4.5m) | ($11.1m) | ($19.7m) | ($8.7m) | — | — | — | — | |
| Basic (in dollars per share) | ($0.46) | ($0.62) | ($0.74) | $1.54 | $1.38 | $1.73 | $1.72 | — | |
| Diluted (in dollars per share) | ($0.46) | ($0.62) | ($0.74) | $1.54 | $1.38 | $1.72 | $1.70 | — | |
| Weighted average number of common shares outstanding - basic (note 13) | 9.8m | 18.1m | 26.4m | 31.6m | — | — | — | — | |
| Weighted average number of common shares outstanding - diluted (note 13) | 9.8m | 18.1m | 26.4m | 31.6m | — | — | — | — | |
| Goodwill impairment | — | — | — | $0 | $37.0m | $0 | $0 | $0 | |
| Other (expense) income, net | — | — | — | ($12.0m) | $13.0m | $8.0m | ($11.0m) | — | |
| Selling and administrative expenses | $9.0m | $11.0m | $19.1m | $24.5m | — | — | — | — | |
| Stock-based compensation (note 12) | $195k | $725k | $8.5m | $2.8m | — | — | — | — | |
| Gain on revaluation of options (note 11) | — | — | ($1.0m) | ($1.5m) | — | — | — | — | |
| Gain on revaluation of RSUs (note 11) | — | — | ($243k) | ($550k) | — | — | — | — | |
| Gain on revaluation of the derivative warrant liability (note 10) | — | — | ($1.4m) | ($4.3m) | — | — | — | — | |
| Foreign exchange loss (gain) (note 22) | $217k | ($132k) | $22k | ($452k) | — | — | — | — | |
| Depreciation (notes 7, 19) | $528k | $446k | $257k | $579k | — | — | — | — | |
| Amortization (note 8) | $3.0m | $4.8m | $4.4m | $5.5m | — | — | — | — | |
| Accretion and other financing costs (note 9) | ($917k) | $1.2m | $967k | $1.2m | — | — | — | — | |
| Loss (gain) on contingent consideration (note 4) | — | ($947k) | ($333k) | $80k | — | — | — | — | |
| Loss on revaluation of conversion feature liability (note 9) | $2.3m | $1.3m | — | — | — | — | — | — | |
| Loss on repayment of long-term debt (note 9) | — | $1.5m | — | — | — | — | — | — | |
| Loss on extinguishment of debt (note 9) | — | — | — | $748k | — | — | — | — | |
| Impairment of goodwill and intangible assets | — | $2.3m | — | — | — | — | — | — | |
| Impairment of property and equipment (note 7) | — | — | — | $15k | — | — | — | — | |
| Business acquisition costs | ($484k) | $19k | $540k | $433k | — | — | — | — | |
| Comprehensive loss for the year | ($4.8m) | ($11.1m) | ($19.5m) | ($10.0m) | — | — | — | — | |
| Loss before undernoted items | ($3.0m) | ($1.8m) | ($17.2m) | — | — | — | — | — | |
| Profit (loss) before tax | ($4.4m) | ($12.1m) | ($18.7m) | — | — | — | — | — | |
| Total expenses | — | $28.2m | $33.7m | $31.2m | — | — | — | $2.5b |
Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.