High Margins & ProfitabilitySustained very high gross and operating margins (77–82% gross; EBIT ~45% in 2025) indicate durable product economics and strong pricing or cost advantage. High margins support cash generation, reinvestment capacity and resilience to cyclicality, underpinning long-term returns.
Debt-free Balance SheetA zero-debt, equity-growing balance sheet provides material financial flexibility to fund organic growth, strategic hires, product investment or M&A without refinancing risk. This lowers insolvency risk and preserves capital allocation optionality over the medium term.
Strong Cash ConversionOperating cash flow consistently exceeding net income and near-par free cash flow conversion shows earnings quality and reliable internal funding. High cash conversion supports repeatable capex, shareholder returns, and de-risks growth investments over multiple years.