Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data Happen, Inc. files with the SEC in its annual reports.
In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.
Income statement
FY2016
FY2017
FY2018
FY2019
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Revenue
501
575
695
759
318
819
1,187
865
787
999
Research and development
115
142
155
168
139
Selling and marketing
217
230
269
279
79.1
General and administrative
207
192
229
238
213
Operating expenses
651
728
823
789
502
Interest expense
688
571
386
247
150
80
82.5
271
374
336
Pre-tax income
-150
-153
-128
-30.9
-188
18.4
153
54.6
65.1
177
Income tax
-4.23
0.63
0.04
-0.2
-0.08
-0.14
-137
15.7
13.7
41.3
Net income to minority interests
0
-0.21
0.16
0.06
0
0
Net income
-146
-154
-128
-30.7
-188
18.6
290
38.9
51.3
136
EPS, basic
-1.88
-1.88
-1.52
-0.35
2.80
0.36
0.46
1.18
EPS, diluted
-1.88
-1.88
-1.52
-0.35
0.18
2.79
0.36
0.45
1.16
Shares, basic (weighted)
78.4
81.8
84.6
87.3
104
108
112
115
Shares, diluted (weighted)
78.4
81.8
84.6
87.3
102
104
108
113
117
Balance sheet
FY2016
FY2017
FY2018
FY2019
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Cash and equivalents
516
402
373
244
0
764
1,124
1,294
977
930
Property, plant and equipment
89.3
102
114
114
96.6
98
136
162
168
254
Lease right-of-use assets
93.5
74
77.3
63.9
26.6
21.3
12.9
Goodwill
35.6
35.6
0
0
0
75.7
75.7
75.7
75.7
75.7
Intangible assets
26.2
21.9
18
14.5
11.4
21.2
16.3
12.1
8.59
7.42
Total assets
5,563
4,641
3,820
2,982
1,863
4,900
7,980
8,827
10,631
11,568
Short-term debt
105
27.8
2.62
Total liabilities
4,587
3,713
2,949
2,082
1,139
4,050
6,815
7,576
9,289
10,067
Total debt
19.4
0
0
Paid-in capital
1,226
1,327
1,405
1,468
1,508
1,560
1,629
1,670
1,702
1,719
Retained earnings
-234
-389
-518
-548
-786
-717
-428
-389
-337
-202
Treasury stock
-19.5
-19.5
-19.5
-19.6
0
0
Other comprehensive income
-0.77
-0.01
0.16
-0.57
1.48
7.05
-37.6
-30.3
-24.2
-18.2
Shareholders' equity
976
922
869
900
724
850
1,164
1,252
1,342
1,500
Minority interests
0
5.26
1.78
0
Total equity
976
928
871
900
724
850
1,164
1,252
1,342
1,500
Total liabilities and equity
5,563
4,641
3,820
2,982
1,863
4,900
7,980
8,827
10,631
11,568
Shares outstanding
80.4
417
85.9
88.8
88.1
101
107
110
113
115
Cash flow statement
FY2016
FY2017
FY2018
FY2019
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Net income
-146
-154
-128
-30.7
-188
18.6
290
38.9
51.3
136
Depreciation and amortization
29.9
46.2
54.8
62.2
54
44.3
43.8
47.2
58.8
Stock-based compensation
69.2
71
75.1
73.6
61.5
66.8
66.4
52.4
40.1
34.3
Deferred income tax
-3.45
0
0
0
0
-3.68
-157
17.6
10.9
37.4
Change in payables
5.58
-1.91
-3.01
4.16
-6.92
Cash from operations
0.55
-573
-640
-271
418
240
376
-1,137
-2,634
-2,727
Capital expenditures
-51.8
-44.6
-53
-50.7
-31.1
-34.4
-69.5
-59.5
-54.3
-140
Acquisitions
0
0
0
-145
0
0
Purchases of investments
-10
0
-136
-144
-53.7
-100
-223
-61.6
-49.8
-30.5
Sales and maturities of investments
2.49
126
0.5
224
225
143
86.1
97.7
938
1,787
Cash from investing
-326
999
879
654
566
-454
-2,810
517
608
1,932
Debt issued
0
Debt repaid
0
-13.7
-14.4
-2.83
-15.3
Stock issued
13.2
14.6
1.96
0.82
Share buybacks
-19.5
0
0
0
Dividends paid
0
0
-50.2
0
0
Cash from financing
314
-474
-239
-540
-842
350
2,795
790
1,710
748
Net change in cash
-10.9
-49.1
-0.23
-157
141
135
361
170
-317
-47
Free cash flow
-51.3
-618
-693
-321
387
205
306
-1,196
-2,688
-2,867
Interest paid
685
581
394
255
144
77.3
79.7
259
378
341
Income taxes paid
0
4.8
14.5
6.63
0.28
3.38
Key metrics
Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $15.03 on September 25, 2026.
Profitability
Metric
Value
How it is calculated
Pre-tax margin
23.9%
Pre-tax income / revenue.
Net margin
18.7%
Net income / revenue.
FCF margin
-282.2%
Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin
-273.6%
Cash from operations / revenue.
Effective tax rate
21.8%
Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)
12.5%
Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)
1.6%
Net income / average total assets.
Stock-based pay / revenue
3.0%
Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue
8.6%
Capital expenditures / revenue.
Growth
Metric
Value
How it is calculated
Revenue growth, 1y
26.9%
Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y
-5.6%
Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y
25.7%
Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y
164.3%
Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y
-22.3%
Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS growth, 1y
157.8%
EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y
-25.4%
Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value growth, 1y
11.8%
Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y
8.8%
Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y
15.7%
Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y
8.8%
Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y
13.2%
Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y
44.1%
Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y
3.6%
Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y
4.1%
Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Balance sheet health
Metric
Value
How it is calculated
Debt / equity
0.00x
Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets
0.0%
Total debt / total assets.
Liabilities / assets
87.5%
Total liabilities / total assets.
Net debt
-$928.2M
Total debt - cash - short-term investments. Negative means more cash than debt.
Free cash flow / net income, when net income is positive.
Per share
Metric
Value
How it is calculated
EPS, diluted
$1.67
Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share
$8.93
Revenue / diluted weighted shares.
FCF per share
-$25.21
Free cash flow / diluted weighted shares.
Operating cash flow per share
-$24.44
Cash from operations / diluted weighted shares.
Book value per share
$13.58
Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Market cap + total debt - cash - short-term investments.
P/E
8.87x
Market cap / net income. Only when net income is positive.
P/S
1.66x
Market cap / revenue.
P/B
1.11x
Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book
1.17x
Market cap / tangible book value, when positive.
EV/Sales
0.77x
Enterprise value / revenue.
FCF yield
-170.5%
Free cash flow / market cap.
Earnings yield
11.3%
Net income / market cap (the inverse of P/E).
What was Happen, Inc.'s revenue in fiscal 2025?
Happen, Inc. reported revenue of $998.8M for fiscal 2025, 26.9% higher than the year before.
Was Happen, Inc. profitable in fiscal 2025?
Yes. Net income was $135.7M, a net margin of 13.6%.
How much free cash flow did Happen, Inc. generate in fiscal 2025?
Cash from operations of $2.73B minus capital expenditures of $140.3M left free cash flow of -$2.87B.
Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.