ABSI Absci Corporation - Common Stock
$9.66
Price · Aug 19, 2026
Fundamentals as of Aug 11, 2026
52W Range
$2–$12
76% of range
Analyst Rating
BUY
16 analysts
Price Target
$14
+44% upside
P/E (TTM)
-11.8
ROE
-63.5%
Net Profit Margin
-4113.7%
ABSI Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$9.65
Market Cap
$1.50B
P/E (TTM)
-11.8
EPS (TTM)
$-0.84
Revenue (TTM)
$3M
Div Yield
—
ROE
-63.5%
Debt/Equity
0.0
52W Range
$2 – $12
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10-Year Performance Revenue, net income, margins and EPS trends
Revenue & Net Income
$3M
2020-12-31
→
2025-12-31
EPS
$-0.84
2020-12-31
→
2025-12-31
Free Cash Flow
$-94M
2021-12-31
→
2025-12-31
Margins
-4113.7%
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Metric
5Y trend
ABSI
Peer Median
P/E (TTM)
-11.8
—
P/S (TTM)
535.7
22.4
P/B
7.9
2.7
EV / EBITDA
-12.5
—
Price / FCF
-16.0
—
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Metric
5Y trend
ABSI
Peer Median
Operating Margin
-4297.0%
—
Net Profit Margin
-4113.7%
-638.9%
ROA
-53.6%
-43.1%
ROE
-63.5%
-49.0%
ROIC
-63.3%
—
Financial Health Debt, liquidity, solvency — balance sheet strength
Metric
5Y trend
ABSI
Peer Median
Debt / Equity
0.0
0.0
Current Ratio
6.6
9.0
Quick Ratio
6.3
—
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Metric
5Y trend
ABSI
Peer Median
Revenue YoY
-38.2%
—
Revenue CAGR 3Y
-21.3%
—
Revenue CAGR 5Y
-10.1%
—
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
Metric
5Y trend
ABSI
Peer Median
ABSI Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
BUY
16 analysts
- Strong Buy 4 25.0%
- Buy 10 62.5%
- Hold 2 12.5%
- Sell 0 0.0%
- Strong Sell 0 0.0%
12-Month Price Target
9 analysts · 2026-08-15
Median
$14.00
← Below all targets
$9.65
Low
$10.00
High
$17.00
Median target
$14.00
+45.0%
Mean target
$13.89
+43.9%
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
0.01%
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| June 30, 2026 | $-0.18 | $-0.21 | 0.03% |
| March 31, 2026 | $-0.19 | $-0.21 | 0.02% |
| Dec. 31, 2025 | $-0.20 | $-0.20 | -0.00% |
| Sept. 30, 2025 | $-0.20 | $-0.22 | 0.02% |
| June 30, 2025 | $-0.24 | $-0.22 | -0.02% |
| March 31, 2025 | $-0.21 | $-0.23 | 0.02% |
| Dec. 31, 2024 | $-0.25 | $-0.24 | -0.01% |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| ABSI | $529M | -4.2 | -38.2% | -4113.7% | -63.5% | — |
| BCAX | $953M | -6.7 | — | — | -33.0% | — |
| TRAX | — | — | — | — | — | — |
| FBRX | $353M | -5.8 | 106.6% | -2555.2% | -86.9% | — |
| ZYME | $1.97B | -24.4 | 38.9% | -76.6% | -26.9% | — |
| XNCR | $1.10B | -12.3 | 13.7% | -73.2% | -14.0% | — |
| TYRA | $1.41B | -13.1 | — | — | -42.7% | — |
| PURR | — | — | — | — | — | — |
| VIR | $841M | -1.9 | -7.6% | -638.9% | -51.1% | — |
| ORIC | $806M | -5.6 | — | — | -36.5% | — |
| INBX | $1.15B | -8.7 | 550.0% | -10773.5% | -365.9% | — |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement 15
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Revenue | $3M | $5M | $6M | $6M | $5M | $5M | |
| R&D Expense | $81M | $64M | $48M | $59M | $45M | $11M | |
| SG&A Expense | $35M | $36M | $38M | $41M | $29M | $6M | |
| Operating Expenses | $123M | $113M | $121M | $112M | $80M | $18M | |
| Operating Income | $-120M | $-109M | $-116M | $-107M | $-75M | $-13M | |
| Interest Expense | · | · | $1M | $972.0K | $3M | $634.0K | |
| Other Non-op | $5M | $6M | $6M | $2M | $-31M | $-418.0K | |
| Pretax Income | $-115M | $-103M | $-110M | $-105M | $-110M | $-14M | |
| Income Tax | $69.0K | $70.0K | $100.0K | $-461.0K | $-9M | $0 | |
| Net Income | $-115M | $-103M | $-111M | $-105M | $-101M | $-14M | |
| EPS (Basic) | $-0.84 | $-0.94 | $-1.20 | $-1.15 | $-2.08 | $-3.19 | |
| EPS (Diluted) | $-0.84 | $-0.94 | $-1.20 | $-1.15 | $-2.08 | $-3.19 | |
| Shares (Basic) | 136,776,885 | 110,239,870 | 92,028,016 | 90,845,629 | 49,685,194 | 15,494,908 | |
| Shares (Diluted) | 136,776,885 | 110,239,870 | 92,028,016 | 90,845,629 | 49,685,194 | 15,494,908 | |
| EBITDA | $-109M | $-95M | $-102M | · | $-69M | · |
Balance Sheet 26
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $20M | $41M | $72M | $60M | $253M | $70M | |
| Short-term Investments | $124M | $71M | · | · | · | · | |
| Receivables | · | $0 | $2M | · | · | · | |
| Prepaid Expense | $5M | $5M | $5M | $6M | $9M | $2M | |
| Current Assets | $150M | $134M | $121M | $187M | $273M | $73M | |
| PP&E (Gross) | · | · | · | · | $58M | $11M | |
| Goodwill | · | · | $0 | $21M | $21M | $0 | |
| Intangibles | $42M | $45M | $48M | $52M | $55M | $0 | |
| Other Non-current Assets | $383.0K | $705.0K | $2M | $1M | $1M | $109.0K | |
| Total Assets | $216M | $214M | $217M | $321M | $426M | $89M | |
| Accounts Payable | $3M | $3M | $2M | $2M | $8M | $2M | |
| Accrued Liabilities | · | $7M | $7M | $20M | $17M | $2M | |
| Short-term Debt | $873.0K | $3M | $3M | $3M | $2M | $903.0K | |
| Current Liabilities | $23M | $29M | $30M | $30M | $34M | $10M | |
| Capital Leases | $3M | $4M | $6M | $7M | $9M | $4M | |
| Deferred Tax | · | · | $186.0K | $238.0K | $743.0K | $0 | |
| Other Non-current Liabilities | $1M | $133.0K | $295.0K | $35.0K | $12M | $749.0K | |
| Total Liabilities | $27M | $34M | $41M | $47M | $60M | $22M | |
| Long-term Debt | · | $4M | $8M | $11M | $4M | · | |
| Total Debt | $873.0K | $3M | $3M | · | $2M | · | |
| Common Stock | $15.0K | $12.0K | $9.0K | $9.0K | $9.0K | $2.0K | |
| Retained Earnings | $-625M | $-510M | $-406M | $-296M | $-191M | $-90M | |
| AOCI | $591.0K | $-4.0K | $-37.0K | $-120.0K | $-13.0K | $0 | |
| Stockholders' Equity | $189M | $179M | $176M | $274M | $366M | $-89M | |
| Liabilities + Equity | $216M | $214M | $217M | $321M | $426M | $89M | |
| Shares Outstanding | 151,515,079 | 115,362,265 | 93,087,675 | 92,411,103 | 92,648,036 | 17,887,631 |
Cash Flow 15
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| D&A | $12M | $13M | $14M | $13M | $7M | $1M | |
| Stock-based Comp | $18M | $19M | $11M | $13M | $11M | $420.0K | |
| Deferred Tax | $-98.0K | $-65.0K | $-52.0K | $-505.0K | $-9M | $0 | |
| Amort. of Intangibles | $3M | $3M | $3M | $3M | $2M | · | |
| Other Non-cash | $-8M | $-2M | $21M | · | $32M | · | |
| Operating Cash Flow | $-93M | $-72M | $-65M | $-81M | $-61M | $-11M | |
| CapEx | $1M | $404.0K | $860.0K | $16M | $38M | $2M | |
| Investing Cash Flow | $-50M | $-42M | $82M | $-127M | $-67M | $-2M | |
| Net Debt Issued | $-3M | $-3M | $-3M | · | $-2M | · | |
| Stock Issued | $106M | $82M | $862.0K | $656.0K | $210M | $0 | |
| Net Stock Activity | $106M | · | $862.0K | · | $210M | · | |
| Financing Cash Flow | $106M | $83M | $-4M | $5M | $336M | $71M | |
| Net Change in Cash | $-37M | $-31M | $13M | $-203M | $208M | $58M | |
| Free Cash Flow | $-94M | $-73M | $-65M | · | $-99M | · | |
| Levered FCF | · | · | $-67M | · | $-102M | · |
Profitability 7
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Operating Margin | -4297.0% | -2401.6% | -2020.2% | · | -1573.4% | · | |
| Net Margin | -4113.7% | -2274.1% | -1933.7% | · | -2111.2% | · | |
| Pretax Margin | -4111.2% | -2272.5% | -1931.9% | · | -2297.3% | · | |
| EBITDA Margin | -3877.7% | -2106.3% | -1775.4% | · | -1434.2% | · | |
| ROA | -53.6% | -47.9% | -41.1% | · | -39.2% | · | |
| ROE | -63.5% | -54.2% | -59.4% | · | -26.8% | · | |
| ROIC | -63.3% | -59.9% | -64.4% | · | -18.8% | · |
Liquidity & Solvency 4
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Current Ratio | 6.6 | 4.7 | 4.1 | · | 8.1 | · | |
| Quick Ratio | 6.3 | 1.4 | 2.4 | · | 7.5 | · | |
| Debt / Equity | 0.0 | 0.0 | 0.0 | · | 0.0 | · | |
| Interest Coverage | · | · | -114.4 | · | -21.9 | · |
Efficiency 2
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.0 | 0.0 | 0.0 | · | 0.0 | · | |
| Receivables Turnover | · | 4.1 | · | · | · | · |
Growth Rates 3
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Revenue YoY | -38.2% | -20.7% | -0.50% | 20.2% | 0.04% | · | |
| Revenue CAGR 3Y | -21.3% | -1.8% | 6.2% | · | · | · | |
| Revenue CAGR 5Y | -10.1% | · | · | · | · | · |
Valuation (TTM) 14
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Revenue TTM | $3M | $5M | $6M | $6M | $5M | · | |
| Net Income TTM | $-115M | $-103M | $-111M | $-105M | $-101M | · | |
| Market Cap | $529M | $302M | $391M | · | $760M | · | |
| Enterprise Value | $385M | $264M | $322M | · | $510M | · | |
| P/E | -4.2 | -2.8 | -3.5 | -1.8 | -3.9 | · | |
| P/S | 188.9 | 66.7 | 68.4 | · | 158.9 | · | |
| P/B | 2.8 | 1.7 | 2.2 | · | 2.1 | · | |
| P / Tangible Book | 3.6 | 2.3 | 3.1 | 1.0 | 2.6 | · | |
| P / Cash Flow | -5.7 | -4.2 | -6.0 | · | -12.5 | · | |
| P / FCF | -5.6 | -4.2 | -6.0 | · | -7.7 | · | |
| EV / EBITDA | -3.5 | -2.8 | -3.2 | · | -7.4 | · | |
| EV / FCF | -4.1 | -3.6 | -4.9 | · | -5.2 | · | |
| EV / Revenue | 137.6 | 58.2 | 56.3 | · | 106.6 | · | |
| Earnings Yield | -24.1% | -35.9% | -28.6% | -54.8% | -25.4% | · |
Income Statement 15
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $318.0K | $215.0K | $650.0K | $378.0K | $593.0K | $1M | $665.0K | $2M | $1M | $898.0K | $338.0K | $744.0K | $3M | $1M | $2M | $2M | |
| R&D Expense | $23M | $19M | $25M | $19M | $20M | $16M | $18M | $18M | $15M | $12M | $12M | $11M | $12M | $13M | $11M | $16M | |
| SG&A Expense | $9M | $9M | $9M | $8M | $9M | $9M | $9M | $9M | $9M | $9M | $9M | $10M | $9M | $10M | $8M | $11M | |
| Operating Expenses | $34M | $31M | $32M | $31M | $32M | $29M | $30M | $31M | $28M | $24M | $25M | $24M | $46M | $26M | $23M | $30M | |
| Operating Income | $-34M | $-31M | $-31M | $-30M | $-31M | $-28M | $-30M | $-29M | $-27M | $-23M | $-25M | $-23M | $-43M | $-24M | $-21M | $-28M | |
| Interest Expense | · | · | · | · | · | · | · | · | · | $176.0K | · | $229.0K | $256.0K | $321.0K | $287.0K | $279.0K | |
| Other Non-op | $990.0K | $1M | $1M | $2M | $1M | $1M | $921.0K | $2M | $2M | $2M | $1M | $2M | $2M | $1M | $1M | $675.0K | |
| Pretax Income | $-33M | $-30M | $-30M | $-29M | $-30M | $-26M | $-29M | $-27M | $-25M | $-22M | $-23M | $-22M | $-42M | $-23M | $-20M | $-28M | |
| Income Tax | $40.0K | $18.0K | $-162.0K | $104.0K | $131.0K | $-4.0K | $21.0K | $37.0K | $0 | $12.0K | $48.0K | $34.0K | $11.0K | $7.0K | $-500.0K | $-312.0K | |
| Net Income | $-33M | $-30M | $-30M | $-29M | $-31M | $-26M | $-29M | $-27M | $-25M | $-22M | $-24M | $-22M | $-42M | $-23M | $-19M | $-27M | |
| EPS (Basic) | $-0.21 | $-0.19 | $-0.19 | $-0.20 | $-0.24 | $-0.21 | $-0.26 | $-0.24 | $-0.22 | $-0.22 | $-0.25 | $-0.24 | $-0.45 | $-0.26 | $-0.20 | $-0.30 | |
| EPS (Diluted) | $-0.21 | $-0.19 | $-0.19 | $-0.20 | $-0.24 | $-0.21 | $-0.26 | $-0.24 | $-0.22 | $-0.22 | $-0.25 | $-0.24 | $-0.45 | $-0.26 | $-0.20 | $-0.30 | |
| Shares (Basic) | 157,471,712 | 152,961,894 | -259,047,054 | 143,769,552 | 127,592,948 | 124,461,439 | -215,701,037 | 113,613,488 | 112,934,086 | 99,393,333 | -183,496,450 | 92,217,234 | 91,827,780 | 91,479,452 | -181,201,340 | 91,105,265 | |
| Shares (Diluted) | 157,471,712 | 152,961,894 | -259,047,054 | 143,769,552 | 127,592,948 | 124,461,439 | -215,701,037 | 113,613,488 | 112,934,086 | 99,393,333 | -183,496,450 | 92,217,234 | 91,827,780 | 91,479,452 | -181,201,340 | 91,105,265 | |
| EBITDA | $-31M | $-28M | · | $-27M | $-28M | $-25M | · | $-26M | $-23M | $-20M | · | $-20M | $-39M | $-21M | · | $-25M |
Balance Sheet 26
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $108M | $9M | $20M | $9M | $38M | $47M | $41M | $38M | $43M | $59M | $72M | $70M | $61M | $11M | $60M | $107M | |
| Short-term Investments | $93M | $117M | $124M | $143M | · | · | $71M | · | · | · | · | · | · | · | · | · | |
| Receivables | · | · | · | $1M | $700.0K | $1M | · | · | · | · | $2M | · | · | · | · | · | |
| Prepaid Expense | $7M | $6M | $5M | $5M | $3M | $5M | $5M | $6M | $3M | $4M | $5M | $4M | $5M | $5M | $6M | $5M | |
| Current Assets | $208M | $132M | $150M | $175M | $137M | $156M | $134M | $150M | $165M | $182M | $121M | $135M | $148M | $165M | $187M | $201M | |
| PP&E (Gross) | · | · | · | · | · | · | · | · | · | · | · | · | · | · | · | $69M | |
| Goodwill | · | · | · | · | · | · | · | · | · | · | · | $0 | $0 | $21M | $21M | $21M | |
| Intangibles | $40M | $41M | $42M | $42M | $43M | $44M | $45M | $46M | $47M | $47M | $48M | $49M | $50M | $51M | $52M | $52M | |
| Other Non-current Assets | $383.0K | $383.0K | $383.0K | $383.0K | $716.0K | $631.0K | $705.0K | $2M | $2M | $2M | $2M | $2M | $2M | $1M | $1M | $1M | |
| Total Assets | $269M | $196M | $216M | $245M | $210M | $232M | $214M | $235M | $256M | $275M | $217M | $236M | $254M | $296M | $321M | $339M | |
| Accounts Payable | $7M | $9M | $3M | $5M | $8M | $5M | $3M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | |
| Accrued Liabilities | · | · | · | $8M | $6M | $4M | · | $18M | $17M | $15M | $7M | $20M | $17M | $18M | $20M | $21M | |
| Short-term Debt | $150.0K | $413.0K | $873.0K | $1M | $2M | $3M | $3M | $3M | $3M | $3M | $3M | $3M | $3M | $3M | $3M | $2M | |
| Current Liabilities | $20M | $20M | $23M | $30M | $31M | $27M | $29M | $27M | $25M | $25M | $30M | $28M | $25M | $27M | $30M | $30M | |
| Capital Leases | $2M | $2M | $3M | $3M | $4M | $4M | $4M | $5M | $5M | $5M | $6M | $6M | $6M | $7M | $7M | $8M | |
| Deferred Tax | · | · | · | · | · | · | · | $175.0K | $175.0K | $175.0K | · | $249.0K | $223.0K | $224.0K | $238.0K | $756.0K | |
| Other Non-current Liabilities | $1M | $806.0K | $1M | $2M | $1M | $2M | $133.0K | $31.0K | $15.0K | $78.0K | $295.0K | $0 | $0 | $0 | $35.0K | $33.0K | |
| Total Liabilities | $23M | $24M | $27M | $35M | $37M | $34M | $34M | $34M | $34M | $35M | $41M | $40M | $39M | $42M | $47M | $46M | |
| Long-term Debt | · | · | · | · | · | · | · | · | · | · | · | · | · | · | · | $9M | |
| Total Debt | $150.0K | $413.0K | · | $1M | $2M | $3M | · | $3M | $3M | $3M | · | $3M | $3M | $3M | · | $2M | |
| Common Stock | $17.0K | $15.0K | $15.0K | $15.0K | $13.0K | $13.0K | $12.0K | $11.0K | $11.0K | $11.0K | $9.0K | $9.0K | $9.0K | $9.0K | $9.0K | $9.0K | |
| Retained Earnings | $-688M | $-654M | $-625M | $-595M | $-567M | $-536M | $-510M | $-481M | $-453M | $-428M | $-406M | $-383M | $-361M | $-319M | $-296M | $-276M | |
| AOCI | $150.0K | $304.0K | $591.0K | $500.0K | $311.0K | $19.0K | $-4.0K | $251.0K | $-114.0K | $-132.0K | $-37.0K | $-59.0K | $-146.0K | $-95.0K | $-120.0K | $26.0K | |
| Stockholders' Equity | $246M | $172M | $189M | $210M | $173M | $199M | $179M | $201M | $221M | $240M | $176M | $196M | $215M | $254M | $274M | $293M | |
| Liabilities + Equity | $269M | $196M | $216M | $245M | $210M | $232M | $214M | $235M | $256M | $275M | $217M | $236M | $254M | $296M | $321M | $339M | |
| Shares Outstanding | 171,558,470 | 155,350,135 | 151,515,079 | 149,746,035 | 127,677,180 | 127,540,754 | 115,362,265 | 114,190,554 | 113,444,491 | 112,998,922 | 93,087,675 | 92,936,980 | 92,590,593 | 92,481,972 | 92,411,103 | 92,884,775 |
Cash Flow 15
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $3M | $3M | $3M | $3M | $3M | $3M | $3M | $3M | $3M | $3M | $3M | $4M | $3M | $4M | $4M | $3M | |
| Stock-based Comp | $5M | $4M | $4M | $4M | $5M | $5M | $5M | $6M | $5M | $4M | $3M | $3M | $3M | $3M | $1M | $4M | |
| Deferred Tax | · | · | · | · | · | · | · | · | $0 | $-11.0K | $-63.0K | $26.0K | $-1.0K | $-14.0K | $-518.0K | $-329.0K | |
| Amort. of Intangibles | · | · | · | · | · | · | · | · | · | · | $1M | $800.0K | $800.0K | $800.0K | $1M | $800.0K | |
| Other Non-cash | · | $-4M | · | · | · | $-3M | · | · | · | $-3M | · | · | · | $-3M | · | · | |
| Operating Cash Flow | $-28M | $-26M | $-29M | $-25M | $-17M | $-22M | $-17M | $-21M | $-17M | $-18M | $-15M | $-10M | $-19M | $-20M | $-19M | $-19M | |
| CapEx | $1.0K | $30.0K | $-103.0K | $962.0K | $223.0K | $25.0K | $23.0K | $48.0K | $333.0K | $0 | $17.0K | $307.0K | $256.0K | $280.0K | $560.0K | $5M | |
| Investing Cash Flow | $24M | $7M | $20M | $-64M | $9M | $-15M | $19M | $15M | $1M | $-77M | $19M | $20M | $70M | $-27M | $-30M | $-79M | |
| Net Debt Issued | · | $-460.0K | · | · | · | $-762.0K | · | · | · | $-872.0K | · | · | · | $-662.0K | · | · | |
| Stock Issued | $98M | $8M | $3M | $61M | $0 | $42M | $-2M | $1M | $760.0K | $81M | · | $380.0K | $116.0K | $229.0K | $66.0K | $162.0K | |
| Net Stock Activity | · | $8M | · | · | · | $42M | · | · | · | $82M | · | · | · | $229.0K | · | · | |
| Financing Cash Flow | $103M | $8M | $4M | $60M | $-1M | $43M | $986.0K | $490.0K | $-134.0K | $81M | $-1M | $-924.0K | $-1M | $-1M | $1M | $-921.0K | |
| Net Change in Cash | $99M | $-11M | $-6M | $-28M | $-9M | $6M | $3M | $-5M | $-16M | $-13M | $3M | $9M | $50M | $-49M | $-47M | $-99M | |
| Free Cash Flow | · | $-26M | · | · | · | $-22M | · | · | · | $-18M | · | · | · | $-20M | · | · | |
| Levered FCF | · | · | · | · | · | · | · | · | · | $-18M | · | · | · | $-21M | · | · |
Profitability 7
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | -10741.5% | -14347.0% | · | -7977.2% | -5293.9% | -2351.9% | · | -1698.7% | -2104.0% | -2616.7% | · | -3132.1% | -1276.7% | -1929.5% | · | -1180.5% | |
| Net Margin | -10443.4% | -13767.0% | · | -7594.2% | -5155.0% | -2234.6% | · | -1610.7% | -1948.8% | -2447.1% | · | -2956.2% | -1237.7% | -1840.4% | · | -1150.7% | |
| Pretax Margin | -10430.8% | -13758.6% | · | -7566.7% | -5132.9% | -2234.9% | · | -1608.5% | -1948.8% | -2445.8% | · | -2951.6% | -1237.3% | -1839.9% | · | -1163.8% | |
| EBITDA Margin | -9893.7% | -13078.1% | · | -7225.4% | -4788.0% | -2091.3% | · | -1501.5% | -1837.6% | -2236.3% | · | -2659.9% | -1172.9% | -1653.3% | · | -1036.8% | |
| ROA | -13.9% | -13.8% | · | -12.0% | -13.1% | -10.4% | · | -11.6% | -9.7% | -7.7% | · | -7.6% | -13.4% | -6.8% | · | -6.9% | |
| ROE | -15.8% | -16.0% | · | -14.0% | -15.5% | -12.0% | · | -13.8% | -11.3% | -8.9% | · | -9.0% | -15.7% | -7.9% | · | -8.0% | |
| ROIC | -13.9% | -17.9% | · | -14.3% | -18.0% | -13.8% | · | -14.1% | -11.9% | -9.7% | · | -11.7% | -19.7% | -9.5% | · | -9.4% |
Liquidity & Solvency 4
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 10.6 | 6.6 | · | 5.9 | 4.4 | 5.7 | · | 5.6 | 6.5 | 7.2 | · | 4.8 | 5.8 | 6.1 | · | 6.7 | |
| Quick Ratio | 10.3 | 6.3 | · | 5.2 | 1.2 | 1.8 | · | 1.4 | 1.7 | 2.3 | · | 2.5 | 2.4 | 0.4 | · | 3.6 | |
| Debt / Equity | 0.0 | 0.0 | · | 0.0 | 0.0 | 0.0 | · | 0.0 | 0.0 | 0.0 | · | 0.0 | 0.0 | 0.0 | · | 0.0 | |
| Interest Coverage | · | · | · | · | · | · | · | · | · | -133.5 | · | -101.8 | -167.9 | -76.3 | · | -100.2 |
Efficiency 2
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.0 | 0.0 | · | 0.0 | 0.0 | 0.0 | · | 0.0 | 0.0 | 0.0 | · | 0.0 | 0.0 | 0.0 | · | 0.0 | |
| Receivables Turnover | · | · | · | 0.8 | 1.7 | 1.7 | · | · | · | · | · | · | · | · | · | · |
Valuation (TTM) 14
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $2M | $2M | · | $4M | $5M | $5M | · | $5M | $6M | $6M | · | $8M | $8M | $5M | · | $6M | |
| Net Income TTM | $-122M | $-115M | · | $-113M | $-109M | $-100M | · | $-96M | $-110M | $-109M | · | $-114M | $-121M | $-109M | · | $-109M | |
| Market Cap | $1.99B | $466M | · | $455M | $328M | $320M | · | $436M | $349M | $642M | · | $123M | $141M | $162M | · | $291M | |
| Enterprise Value | $1.79B | $341M | · | $304M | $292M | $276M | · | $401M | $310M | $586M | · | $56M | $83M | $154M | · | $186M | |
| P/E | -13.8 | -3.6 | · | -3.4 | -2.8 | -2.8 | · | -4.2 | -2.7 | -4.9 | · | -1.1 | -1.1 | -1.4 | · | -2.4 | |
| P/S | 1322.0 | 197.1 | · | 118.2 | 69.2 | 63.4 | · | 94.6 | 55.6 | 102.2 | · | 15.8 | 17.6 | 29.6 | · | 50.7 | |
| P/B | 8.1 | 2.7 | · | 2.2 | 1.9 | 1.6 | · | 2.2 | 1.6 | 2.7 | · | 0.6 | 0.7 | 0.6 | · | 1.0 | |
| P / Tangible Book | 9.6 | 3.6 | · | 2.7 | 2.5 | 2.1 | · | 2.8 | 2.0 | 3.3 | · | 0.8 | 0.9 | 0.9 | · | 1.3 | |
| P / Cash Flow | · | -17.7 | · | · | · | -14.7 | · | · | · | -35.9 | · | · | · | -8.0 | · | · | |
| P / FCF | · | -17.7 | · | · | · | -14.6 | · | · | · | -35.9 | · | · | · | -7.9 | · | · | |
| EV / EBITDA | -56.8 | -12.1 | · | -11.1 | -10.3 | -11.2 | · | -15.7 | -13.3 | -29.2 | · | -2.8 | -2.1 | -7.3 | · | -7.6 | |
| EV / FCF | · | -12.9 | · | · | · | -12.6 | · | · | · | -32.8 | · | · | · | -7.5 | · | · | |
| EV / Revenue | 1188.4 | 144.1 | · | 79.0 | 61.6 | 54.6 | · | 87.0 | 49.3 | 93.4 | · | 7.2 | 10.3 | 28.1 | · | 32.4 | |
| Earnings Yield | -7.2% | -28.0% | · | -29.3% | -35.4% | -35.5% | · | -24.1% | -36.7% | -20.6% | · | -94.7% | -87.5% | -69.1% | · | -40.9% |
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
Income Statement
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Revenue | $3M | $5M | $6M | $6M | $5M |
| Operating Margin % | -4297.0% | -2401.6% | -2020.2% | — | -1573.4% |
| Net Income | $-115M | $-103M | $-111M | $-105M | $-101M |
| Diluted EPS | $-0.84 | $-0.94 | $-1.20 | $-1.15 | $-2.08 |
Balance Sheet
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Debt / Equity | 0.0 | 0.0 | 0.0 | — | 0.0 |
| Current Ratio | 6.6 | 4.7 | 4.1 | — | 8.1 |
| Quick Ratio | 6.3 | 1.4 | 2.4 | — | 7.5 |
Cash Flow
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Free Cash Flow | $-94M | $-73M | $-65M | — | $-99M |
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Institutional owners (13F) 214 filers · $1.4B total · As of June 30, 2026
Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.
Institutional activity — Q2 2026 vs prior quarter
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 53 (+11 vs prior Q) | 14 (-2 vs prior Q) | 70 (+20 vs prior Q) | 53 (+11 vs prior Q) | +25.2M |
Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.
| Institution | Value | Shares | % of tracked 13F | Type |
|---|---|---|---|---|
| FMR LLC | $163,676,402 | 14,122,209 | 11.75% | Shares |
| ARK Investment Management LLC | $149,803,896 | 12,925,271 | 10.75% | Shares |
| STATE STREET CORP | $93,847,800 | 8,097,308 | 6.74% | Shares |
| Redmile Group, LLC | $78,112,833 | 6,739,675 | 5.61% | Shares |
| AMERIPRISE FINANCIAL INC | $78,019,878 | 6,731,652 | 5.60% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $70,961,826 | 6,122,677 | 5.09% | Shares |
| ADVANCED MICRO DEVICES INC | $66,228,563 | 5,714,285 | 4.75% | Shares |
| ADAGE CAPITAL PARTNERS GP, L.L.C. | $66,118,864 | 5,704,820 | 4.75% | Shares |
| TWO SIGMA INVESTMENTS, LP | $63,669,503 | 5,493,486 | 4.57% | Shares |
| D. E. Shaw & Co., Inc. | $60,728,749 | 5,239,754 | 4.36% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $35,586,023 | 3,069,597 | 2.55% | Shares |
| Woodline Partners LP | $31,300,823 | 2,700,675 | 2.25% | Shares |
| Siren, L.L.C. | $28,682,515 | 2,474,764 | 2.06% | Shares |
| BVF INC/IL | $27,371,802 | 2,361,674 | 1.96% | Shares |
| Gem Investment Advisors, LLC | $25,160,302 | 2,170,863 | 1.81% | Shares |
| BAKER BROS. ADVISORS LP | $24,742,367 | 2,134,803 | 1.78% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $19,814,264 | 1,709,600 | 1.42% | Call option |
| VOLORIDGE INVESTMENT MANAGEMENT, LLC | $18,577,796 | 1,602,916 | 1.33% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $15,519,288 | 1,339,024 | 1.11% | Shares |
| GOLDMAN SACHS GROUP INC | $15,255,395 | 1,316,255 | 1.10% | Shares |
| FRED ALGER MANAGEMENT, LLC | $13,639,077 | 1,176,797 | 0.98% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $13,513,882 | 1,165,995 | 0.97% | Shares |
| Sumitomo Mitsui Trust Group, Inc. | $11,889,312 | 1,025,825 | 0.85% | Shares |
| Amova Asset Management Americas, Inc. | $11,741,715 | 1,013,965 | 0.84% | Shares |
| MORGAN STANLEY | $11,577,251 | 998,900 | 0.83% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $11,290,074 | 974,122 | 0.81% | Shares |
| Casdin Capital, LLC | $11,280,083 | 973,260 | 0.81% | Shares |
| Parkman Healthcare Partners LLC | $10,365,795 | 894,374 | 0.74% | Shares |
| Integral Health Asset Management, LLC | $9,272,000 | 800,000 | 0.67% | Shares |
| LAZARD ASSET MANAGEMENT LLC | $9,059,810 | 781,692 | 0.65% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $6,382,856 | 550,721 | 0.46% | Shares |
| GROUP ONE TRADING LLC | $6,081,818 | 524,747 | 0.44% | Shares |
| Trexquant Investment LP | $5,581,222 | 481,555 | 0.40% | Shares |
| IQ EQ FUND MANAGEMENT (IRELAND) Ltd | $5,546,047 | 478,520 | 0.40% | Shares |
| Artia Global Partners LP | $5,382,906 | 464,444 | 0.39% | Shares |
| ROYCE & ASSOCIATES LP | $5,166,555 | 445,777 | 0.37% | Shares |
| BANK OF AMERICA CORP /DE/ | $4,796,545 | 413,852 | 0.34% | Shares |
| CITADEL ADVISORS LLC | $4,494,602 | 387,800 | 0.32% | Call option |
| Balyasny Asset Management L.P. | $4,161,865 | 359,091 | 0.30% | Shares |
| Ikarian Capital, LLC | $4,100,217 | 353,772 | 0.29% | Shares |
| Sofinnova Investments, Inc. | $3,910,466 | 337,400 | 0.28% | Shares |
| Schonfeld Strategic Advisors LLC | $3,238,152 | 279,392 | 0.23% | Shares |
| VANGUARD GROUP INC | $3,134,083 | 898,018 | 0.22% | Shares |
| MILLENNIUM MANAGEMENT LLC | $2,882,445 | 248,701 | 0.21% | Shares |
| AMERICAN CENTURY COMPANIES INC | $2,829,200 | 244,107 | 0.20% | Shares |
| PLATINUM INVESTMENT MANAGEMENT LTD | $2,755,685 | 237,764 | 0.20% | Shares |
| Point72 Asset Management, L.P. | $2,641,628 | 227,923 | 0.19% | Shares |
| CITIGROUP INC | $2,260,282 | 195,020 | 0.16% | Shares |
| Wilmington Savings Fund Society, FSB | $2,196,560 | 189,522 | 0.16% | Shares |
| Palumbo Wealth Management LLC | $2,123,207 | 183,193 | 0.15% | Shares |
| RHUMBLINE ADVISERS | $2,067,169 | 178,359 | 0.15% | Shares |
| JANE STREET GROUP, LLC | $1,966,823 | 169,700 | 0.14% | Call option |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $1,923,940 | 166,000 | 0.14% | Put option |
| Squarepoint Ops LLC | $1,882,784 | 162,449 | 0.14% | Shares |
| Caitong International Asset Management Co., Ltd | $1,823,327 | 157,319 | 0.13% | Shares |
| Independent Advisor Alliance | $1,783,179 | 153,855 | 0.13% | Shares |
| VICTORY CAPITAL MANAGEMENT INC | $1,756,291 | 151,535 | 0.13% | Shares |
| Rafferty Asset Management, LLC | $1,666,063 | 143,750 | 0.12% | Shares |
| CERTUITY, LLC | $1,630,678 | 140,697 | 0.12% | Shares |
| WELLINGTON MANAGEMENT GROUP LLP | $1,487,866 | 128,375 | 0.11% | Shares |
| Scientech Research LLC | $1,442,190 | 124,434 | 0.10% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $1,395,865 | 120,437 | 0.10% | Shares |
| BlackRock, Inc. | $1,387,729 | 119,735 | 0.10% | Shares |
| BOOTHBAY FUND MANAGEMENT, LLC | $1,258,361 | 108,573 | 0.09% | Shares |
| Bank of New York Mellon Corp | $1,257,758 | 108,521 | 0.09% | Shares |
| CITADEL ADVISORS LLC | $1,191,174 | 102,776 | 0.09% | Shares |
| Creative Planning | $1,185,889 | 102,320 | 0.09% | Shares |
| PEAK6 LLC | $1,159,000 | 100,000 | 0.08% | Call option |
| Institute for Wealth Management, LLC. | $1,157,749 | 99,892 | 0.08% | Shares |
| TWO SIGMA ADVISERS, LP | $1,096,907 | 314,300 | 0.08% | Shares |
| XTX Topco Ltd | $1,076,920 | 92,918 | 0.08% | Shares |
| SummitTX Capital, L.P. | $1,054,829 | 91,012 | 0.08% | Shares |
| Uniting Wealth Partners, LLC | $1,034,408 | 89,250 | 0.07% | Shares |
| Man Group plc | $988,314 | 85,273 | 0.07% | Shares |
| FEDERATED HERMES, INC. | $986,726 | 85,136 | 0.07% | Shares |
| MetLife Investment Management, LLC | $943,797 | 81,432 | 0.07% | Shares |
| KING LUTHER CAPITAL MANAGEMENT CORP | $898,457 | 77,520 | 0.06% | Shares |
| Vanguard Global Advisers, LLC | $866,260 | 74,742 | 0.06% | Shares |
| HENGEHOLD CAPITAL MANAGEMENT LLC | $854,369 | 73,716 | 0.06% | Shares |
| PROFUND ADVISORS LLC | $843,625 | 72,789 | 0.06% | Shares |
| LPL Financial LLC | $823,806 | 71,079 | 0.06% | Shares |
| SBI Securities Co., Ltd. | $787,610 | 67,956 | 0.06% | Shares |
| SIMPLEX TRADING, LLC | $761,544 | 65,707 | 0.05% | Shares |
| BARCLAYS PLC | $711,626 | 61,400 | 0.05% | Call option |
| GRIFFIN ASSET MANAGEMENT, INC. | $658,416 | 56,760 | 0.05% | Shares |
| ENVESTNET ASSET MANAGEMENT INC | $645,053 | 55,656 | 0.05% | Shares |
| Invesco Ltd. | $638,991 | 55,133 | 0.05% | Shares |
| CITADEL ADVISORS LLC | $608,475 | 52,500 | 0.04% | Put option |
| BARCLAYS PLC | $590,556 | 50,954 | 0.04% | Shares |
| JANE STREET GROUP, LLC | $585,295 | 50,500 | 0.04% | Put option |
| Russell Investments Group, Ltd. | $532,618 | 45,955 | 0.04% | Shares |
| NEW YORK STATE COMMON RETIREMENT FUND | $500,688 | 43,200 | 0.04% | Shares |
| Brevan Howard Capital Management LP | $495,658 | 42,766 | 0.04% | Shares |
| PIER 88 INVESTMENT PARTNERS LLC | $492,575 | 42,500 | 0.04% | Shares |
| ALLIANCEBERNSTEIN L.P. | $488,670 | 162,890 | 0.04% | Shares |
| MH & ASSOCIATES SECURITIES MANAGEMENT CORP /ADV | $467,506 | 40,337 | 0.03% | Shares |
| Police & Firemen's Retirement System of New Jersey | $466,324 | 40,235 | 0.03% | Shares |
| WINTON GROUP Ltd | $445,056 | 38,400 | 0.03% | Shares |
| Caption Management, LLC | $423,035 | 36,500 | 0.03% | Shares |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE | $421,749 | 36,389 | 0.03% | Shares |
Company insiders 10 insiders · 2 officers · 8 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Sean Mcclain | Chief Executive Officer | June 24, 2026 F | 8,655,555 | 0 | 0 | $0 |
| Zachariah Jonasson | CFO / CBO | May 31, 2026 F | 491,464 | 0 | 0 | $0 |
| Mary T Szela | Director | June 30, 2026 P | 21,300 | 1 | 0 | $148,866 |
| Menelas N Pangalos | Director | June 4, 2026 A | 242,408 | 0 | 0 | $0 |
| Frans Van Houten | Director | June 4, 2026 A | 73,420 | 0 | 0 | $0 |
| Joseph Sirosh | Director | June 4, 2026 A | 33,420 | 0 | 0 | $0 |
| Daniel A Rabinovitsj | Director | June 4, 2026 A | 33,420 | 0 | 0 | $0 |
| Karen K Mcginnis | Director | June 4, 2026 A | 48,420 | 0 | 0 | $0 |
| Amrit Nagpal | Director | June 12, 2024 A | 8,820 | 0 | 0 | $0 |
| Ransi Mudalinayake Somaratne | — | Aug. 3, 2026 A | — | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
Activists & 5%+ owners 2 positions
Investors who filed SEC Schedule 13D — beneficial ownership above 5% with an intent to influence the issuer (activist stakes, board campaigns, M&A). Each row shows the most recent known state of that filer's position.
| Filer | Filed | Stake | Status | Purpose | Filing |
|---|---|---|---|---|---|
| Redmile Group, LLC, Jeremy C. Green ×5 filings | April 14, 2026 | 4.90% | Amendment | — | SEC |
| Casdin Capital, LLC, Eli Casdin ×5 filings | May 8, 2023 | — | Initial filing | Passive investment | SEC |
Purpose is an automated classification of the filer's own stated purpose (SEC Item 4) — not investment advice. "—" means no clear purpose was stated or the text could not be classified.
ETF ownership Held by 36 ETFs
Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.
| Fund | Weight | Units | As of | Source |
|---|---|---|---|---|
| ARKG · ARK ETF Trust | 4.78% | 11,876,202 NS | April 30, 2026 | N-PORT |
| PTH · Invesco Exchange-Traded Fund Trust | 1.10% | 303,467 SH | Aug. 8, 2026 | Daily |
| DWAS · Invesco Exchange-Traded Fund Trust … | 0.47% | 237,410 SH | Aug. 8, 2026 | Daily |
| IWC · iShares Trust | 0.26% | 470,157 SH | Aug. 8, 2026 | Daily |
| LABU · Direxion Shares ETF Trust | 0.25% | 259,355 NS | April 30, 2026 | N-PORT |
| IBBQ · Invesco Exchange-Traded Fund Trust … | 0.09% | 8,486 SH | Aug. 8, 2026 | Daily |
| IBB · iShares Trust | 0.09% | 985,334 SH | Aug. 8, 2026 | Daily |
| VTWG · VANGUARD SCOTTSDALE FUNDS | 0.08% | 123,866 SH | Aug. 8, 2026 | Daily |
| IWO · iShares Trust | 0.06% | 1,040,625 SH | Aug. 8, 2026 | Daily |
| AVSC · AMERICAN CENTURY ETF TRUST | 0.05% | 216,396 NS | May 31, 2026 | N-PORT |
| BIB · ProShares Trust | 0.05% | 5,561 NS | May 31, 2026 | N-PORT |
| VTWO · VANGUARD SCOTTSDALE FUNDS | 0.05% | 796,185 SH | Aug. 8, 2026 | Daily |
| IWM · iShares Trust | 0.04% | 3,511,604 SH | Aug. 8, 2026 | Daily |
| ISCV · iShares Trust | 0.03% | 27,943 SH | Aug. 8, 2026 | Daily |
| VFMO · VANGUARD WELLINGTON FUND | 0.03% | 48,386 SH | Aug. 8, 2026 | Daily |
| ITWO · ProShares Trust | 0.02% | 6,418 NS | May 31, 2026 | N-PORT |
| PRFZ · Invesco Exchange-Traded Fund Trust | 0.02% | 67,155 SH | Aug. 8, 2026 | Daily |
| VXF · VANGUARD INDEX FUNDS | 0.02% | 1,575,701 SH | Aug. 8, 2026 | Daily |
| VTWV · VANGUARD SCOTTSDALE FUNDS | 0.02% | 19,880 SH | Aug. 8, 2026 | Daily |
| SCHA · SCHWAB STRATEGIC TRUST | 0.02% | 647,914 NS | May 31, 2026 | N-PORT |
| ISCB · iShares Trust | 0.02% | 5,641 SH | Aug. 8, 2026 | Daily |
| UWM · ProShares Trust | 0.01% | 5,019 NS | May 31, 2026 | N-PORT |
| IWN · iShares Trust | 0.01% | 221,181 SH | Aug. 8, 2026 | Daily |
| URTY · ProShares Trust | 0.01% | 5,075 NS | May 31, 2026 | N-PORT |
| MSSM · MORGAN STANLEY PATHWAY FUNDS | 0.01% | 7,981 NS | May 31, 2026 | N-PORT |
| DFAS · Dimensional ETF Trust | 0.01% | 141,137 NS | April 30, 2026 | N-PORT |
| HDG · ProShares Trust | 0.00% | 127 NS | May 31, 2026 | N-PORT |
| ITOT · iShares Trust | 0.00% | 225,187 SH | Aug. 8, 2026 | Daily |
| IWV · iShares Trust | 0.00% | 35,408 SH | Aug. 8, 2026 | Daily |
| DFAC · Dimensional ETF Trust | 0.00% | 104,351 NS | April 30, 2026 | N-PORT |
| SCHB · SCHWAB STRATEGIC TRUST | 0.00% | 78,402 NS | May 31, 2026 | N-PORT |
| DFAU · Dimensional ETF Trust | 0.00% | 15,954 NS | April 30, 2026 | N-PORT |
| AVUS · AMERICAN CENTURY ETF TRUST | 0.00% | 2,010 NS | May 31, 2026 | N-PORT |
| VTI · VANGUARD INDEX FUNDS | 0.00% | 4,407,685 SH | Aug. 8, 2026 | Daily |
| VTHR · VANGUARD SCOTTSDALE FUNDS | 0.00% | 11,614 SH | Aug. 8, 2026 | Daily |
| DXUV · Dimensional ETF Trust | 0.00% | 24 NS | April 30, 2026 | N-PORT |