ABX Abacus Global Management, Inc. Class A Common Stock
$9.26
Price · Aug 19, 2026
Fundamentals as of May 11, 2026
52W Range
$5–$12
57% of range
Analyst Rating
BUY
11 analysts
Price Target
$14
+52% upside
P/E (TTM)
25.7
ROE
8.8%
Net Profit Margin
15.5%
ABX Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$9.26
Market Cap
$903M
P/E (TTM)
25.7
EPS (TTM)
$0.36
Revenue (TTM)
$235M
Div Yield
2.2%
ROE
8.8%
Debt/Equity
1.0
52W Range
$5 – $12
ABX Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view
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10-Year Performance Revenue, net income, margins and EPS trends
Revenue & Net Income
$235M
2022-12-31
→
2025-12-31
EPS
$0.36
2022-12-31
→
2025-12-31
Free Cash Flow
$-27M
2024-12-31
→
2025-12-31
Margins
15.5%
2024-12-31
→
2025-12-31
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Metric
5Y trend
ABX
Peer Median
P/E (TTM)
25.7
22.4
P/S (TTM)
3.8
2.7
P/B
2.2
3.3
EV / EBITDA
11.8
—
Price / FCF
-33.9
—
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Metric
5Y trend
ABX
Peer Median
Gross Margin
87.7%
59.0%
Operating Margin
37.7%
—
Net Profit Margin
15.5%
5.1%
ROA
4.1%
3.4%
ROE
8.8%
10.0%
Financial Health Debt, liquidity, solvency — balance sheet strength
Metric
5Y trend
ABX
Peer Median
Debt / Equity
1.0
—
Current Ratio
0.5
2.5
Quick Ratio
0.3
—
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Metric
5Y trend
ABX
Peer Median
Revenue YoY
110.2%
—
Revenue CAGR 3Y
73.9%
—
EPS YoY
-74.6%
—
Net Income YoY
-70.0%
—
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
Metric
5Y trend
ABX
Peer Median
Payout Ratio
53.5%
—
Dividends Yield, payout ratio, dividend history, 5Y CAGR
Dividend Yield
2.2%
Payout Ratio
53.5%
5Y Div CAGR
—
| Ex-date | Amount |
|---|---|
| Dec. 2, 2025 | $0.2000 |
ABX Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
BUY
11 analysts
- Strong Buy 1 9.1%
- Buy 8 72.7%
- Hold 2 18.2%
- Sell 0 0.0%
- Strong Sell 0 0.0%
12-Month Price Target
6 analysts · 2026-08-13
Median
$14.00
← Below all targets
$9.26
Low
$12.00
High
$16.00
Median target
$14.00
+51.1%
Mean target
$14.08
+52.0%
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
0.03%
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| June 30, 2026 | $0.28 | $0.24 | 0.04% |
| March 31, 2026 | $0.21 | $0.21 | -0.00% |
| Dec. 31, 2025 | $0.23 | $0.19 | 0.04% |
| Sept. 30, 2025 | $0.20 | $0.19 | 0.01% |
| June 30, 2025 | $0.22 | $0.17 | 0.05% |
| March 31, 2025 | $0.18 | $0.16 | 0.02% |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| ABX | $833M | 23.8 | 110.2% | 15.5% | 8.8% | 87.7% |
| HGTY | — | — | 17.3% | 10.2% | 80.3% | — |
| BWIN | — | -48.1 | 8.3% | -2.2% | -5.7% | — |
| GSHD | — | 70.8 | 16.2% | 7.6% | -107.8% | — |
| LIFE | — | — | 52.0% | 18.4% | -108.4% | — |
| TWFG | — | 54.3 | 22.0% | — | — | — |
| SLQT | $411M | 238.0 | 15.5% | 3.1% | 14.1% | — |
| HIT | — | 79.5 | 71.0% | 3.8% | 7.6% | 62.8% |
| EHTH | $143M | -13.5 | 4.1% | 7.2% | 7.0% | 43.5% |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement 17
| Metric | Trend | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Revenue | $235M | $112M | $66M | $45M | |
| Cost of Revenue | $29M | $11M | $6M | $6M | |
| Gross Profit | $206M | $101M | $60M | $39M | |
| SG&A Expense | $88M | $82M | $26M | $1M | |
| Operating Expenses | $118M | $101M | $36M | $5M | |
| Operating Income | $89M | $-888.3K | $24M | $34M | |
| Interest Expense | · | · | $10M | $42.8K | |
| Interest Income | $4M | $2M | $594.8K | $1.5K | |
| Other Non-op | $625.8K | $38.0K | $-146.4K | $-347.0K | |
| Pretax Income | · | · | · | $-591.1K | |
| Income Tax | $15M | $5M | $1M | $889.9K | |
| Net Income | $37M | $-24M | $10M | $32M | |
| EPS (Basic) | $0.38 | $-0.34 | $0.17 | $0.63 | |
| EPS (Diluted) | $0.36 | $-0.34 | $0.16 | $0.63 | |
| Shares (Basic) | 96,141,753 | 70,761,830 | 56,951,414 | 50,369,350 | |
| Shares (Diluted) | 99,230,950 | 70,761,830 | 57,767,898 | 50,369,350 | |
| EBITDA | $107M | $7M | · | · |
Balance Sheet 25
| Metric | Trend | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Cash & Equivalents | $38M | $132M | $26M | $30M | |
| Prepaid Expense | $4M | $3M | $699.1K | $116.6K | |
| Current Assets | $70M | $160M | $32M | $33M | |
| PP&E (Net) | $2M | $1M | $400.7K | $18.6K | |
| PP&E (Gross) | $2M | $1M | $470.5K | $25.3K | |
| Accum. Depreciation | $590.3K | $231.7K | $69.8K | $6.7K | |
| Goodwill | $253M | $238M | $140M | $0 | |
| Intangibles | $66M | $80M | $30M | $0 | |
| Other Non-current Assets | $1M | $2M | $998.9K | $890.8K | |
| Total Assets | $902M | $874M | $332M | $59M | |
| Accounts Payable | · | · | $0 | $40.0K | |
| Accrued Liabilities | $11M | $6M | $4M | $0 | |
| Current Liabilities | $149M | $62M | $23M | $1M | |
| Capital Leases | $5M | $5M | $2M | $29.3K | |
| Deferred Tax | $30M | $27M | $9M | $1M | |
| Total Liabilities | $479M | $451M | $168M | $31M | |
| Long-term Debt | $406M | $381M | · | · | |
| Total Debt | $406M | $1M | · | · | |
| Paid-in Capital | $516M | $494M | $200M | $705.0K | |
| Retained Earnings | $-42M | $-58M | $-35M | $25M | |
| Treasury Stock | $56M | $12M | $1M | $0 | |
| AOCI | $0 | $0 | $108.4K | $1M | |
| Stockholders' Equity | $419M | $423M | $164M | $28M | |
| Liabilities + Equity | $902M | $874M | $332M | $59M | |
| Shares Outstanding | 97,473,634 | 95,682,968 | 63,242,173 | 50,369,350 |
Cash Flow 18
| Metric | Trend | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| D&A | $19M | $8M | $3M | $4.3K | |
| Stock-based Comp | $16M | $43M | $11M | $0 | |
| Deferred Tax | $824.7K | $6M | $566.2K | $889.9K | |
| Amort. of Intangibles | $17M | $8M | $3M | $0 | |
| Other Non-cash | $-97M | $-242M | · | · | |
| Operating Cash Flow | $-26M | $-209M | $-64M | $11M | |
| CapEx | $931.4K | $786.2K | $189.7K | $0 | |
| Investing Cash Flow | $-23M | $-5M | $2M | $-4M | |
| Debt Issued | $50M | $125M | · | · | |
| Net Debt Issued | $50M | · | · | · | |
| Stock Issued | $0 | $182M | $0 | · | |
| Stock Repurchased | $44M | $11M | $1M | $0 | |
| Net Stock Activity | $-44M | $171M | · | · | |
| Dividends Paid | $20M | $0 | · | · | |
| Financing Cash Flow | $-45M | $320M | $57M | $23M | |
| Net Change in Cash | $-94M | $106M | $-4M | $30M | |
| Taxes Paid | $9M | $2M | $150.0K | $0 | |
| Free Cash Flow | $-27M | $-210M | · | · |
Profitability 6
| Metric | Trend | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Gross Margin | 87.7% | 89.8% | · | · | |
| Operating Margin | 37.7% | -0.79% | · | · | |
| Net Margin | 15.5% | -21.4% | · | · | |
| EBITDA Margin | 45.6% | 6.3% | · | · | |
| ROA | 4.1% | -4.0% | · | -0.29% | |
| ROE | 8.8% | -7.0% | · | -34.3% |
Liquidity & Solvency 4
| Metric | Trend | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Current Ratio | 0.5 | 2.6 | · | · | |
| Quick Ratio | 0.3 | 2.1 | · | · | |
| Debt / Equity | 1.0 | 0.0 | · | · | |
| LT Debt / Equity | 0.7 | · | · | · |
Efficiency 1
| Metric | Trend | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Asset Turnover | 0.3 | 0.2 | · | · |
Growth Rates 6
| Metric | Trend | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Revenue YoY | 110.2% | 68.6% | 48.5% | · | |
| Revenue CAGR 3Y | 73.9% | · | · | · | |
| EPS YoY | · | · | -74.6% | · | |
| EPS CAGR 3Y | -17.0% | · | · | · | |
| Net Income YoY | · | · | -70.0% | 100.0% | |
| Net Income CAGR 3Y | 4.9% | · | · | · |
Valuation (TTM) 17
| Metric | Trend | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Revenue TTM | $235M | $112M | $66M | $45M | |
| Net Income TTM | $37M | $-24M | $10M | $32M | |
| Market Cap | $833M | $749M | · | · | |
| Enterprise Value | $1.20B | $618M | · | · | |
| P/E | 23.8 | -23.0 | 60.4 | 16.1 | |
| P/S | 3.5 | 6.7 | · | · | |
| P/B | 2.0 | 1.8 | · | · | |
| P / Tangible Book | 8.4 | 7.1 | · | · | |
| P / Cash Flow | -32.5 | -3.6 | · | · | |
| P / FCF | -31.3 | -3.6 | · | · | |
| EV / EBITDA | 11.2 | 88.0 | · | · | |
| EV / FCF | -45.1 | -2.9 | · | · | |
| EV / Revenue | 5.1 | 5.5 | · | · | |
| Dividend Yield | 2.4% | 0.00% | · | · | |
| Earnings Yield | 4.2% | -4.3% | 1.7% | 6.2% | |
| Payout Ratio | 53.5% | · | · | · | |
| Annual Payout | $20M | $0 | · | · |
Income Statement 17
| Metric | Trend | 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 | Q2 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $59M | $72M | $63M | $56M | $44M | $33M | $28M | $29M | $21M | $24M | $21M | $11M | $10M | $15M | $12M | $8M | |
| Cost of Revenue | $6M | $8M | $8M | $6M | $7M | $4M | $2M | $3M | $3M | $2M | $3M | $973.4K | $489.6K | $2M | $2M | $666.1K | |
| Gross Profit | $53M | $64M | $55M | $50M | $37M | $29M | $26M | $26M | $19M | $22M | $18M | $10M | $10M | $13M | $10M | $8M | |
| SG&A Expense | $26M | $32M | $25M | $19M | $12M | $40M | $15M | $15M | $11M | $15M | $10M | $577.5K | $696.9K | $720.3K | $59.8K | $5.5K | |
| Operating Expenses | $35M | $41M | $33M | $28M | $16M | $46M | $19M | $20M | $17M | $20M | $11M | $2M | $2M | $2M | $-912.4K | $2M | |
| Operating Income | $18M | $23M | $22M | $23M | $21M | $-17M | $7M | $7M | $2M | $2M | $6M | $8M | $8M | $11M | $11M | $5M | |
| Interest Expense | · | · | · | · | · | · | · | · | $4M | · | $3M | $584.1K | $357.4K | $42.8K | $0 | $0 | |
| Interest Income | $663.2K | $870.1K | $803.6K | $1M | $1M | $727.9K | $609.5K | $639.9K | $421.4K | $523.5K | $63.8K | $0 | $7.5K | $1.5K | $0 | $0 | |
| Other Non-op | $3M | $-1M | $-629.1K | $3M | $-44.5K | $-94.6K | $-9.8K | $195.5K | $-53.0K | $-77.7K | $20.1K | $121.6K | $-210.4K | $-10M | $42.3K | $-127.5K | |
| Pretax Income | · | · | · | · | · | · | · | · | · | · | · | · | · | · | $-6M | $-1M | |
| Income Tax | $4M | $4M | $5M | $4M | $2M | $3M | $-250.4K | $2M | $1M | $-769.9K | $2M | $1M | $-656.5K | $241.1K | $352.1K | $120.1K | |
| Net Income | $7M | $7M | $7M | $18M | $5M | $-18M | $-5M | $770.0K | $-1M | $-6M | $903.4K | $7M | $8M | $8M | $10M | $5M | |
| EPS (Basic) | $0.07 | $0.08 | $0.07 | $0.18 | $0.05 | $-0.26 | $-0.07 | $0.01 | $-0.02 | $-0.13 | $0.01 | $0.13 | $0.16 | $0.20 | $0.20 | $0.09 | |
| EPS (Diluted) | $0.07 | $0.06 | $0.07 | $0.18 | $0.05 | $-0.26 | $-0.07 | $0.01 | $-0.02 | $-0.14 | $0.01 | $0.13 | $0.16 | $0.20 | $0.20 | $0.09 | |
| Shares (Basic) | 96,775,889 | -190,698,145 | 95,956,504 | 94,690,195 | 96,193,199 | -130,805,905 | 74,694,319 | 63,846,170 | 63,027,246 | -107,275,487 | 63,349,823 | 50,507,728 | 50,369,350 | 0 | 50,369,350 | 50,369,350 | |
| Shares (Diluted) | 99,545,644 | -192,292,354 | 96,651,911 | 97,372,470 | 97,498,923 | -134,122,555 | 74,694,319 | 67,162,820 | 63,027,246 | -106,459,003 | 63,349,823 | 50,507,728 | 50,369,350 | 0 | 50,369,350 | 50,369,350 | |
| EBITDA | $22M | · | $27M | $28M | $26M | · | $9M | $9M | $4M | · | $8M | $8M | · | · | · | · |
Balance Sheet 25
| Metric | Trend | 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 | Q2 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $37M | $38M | $86M | $75M | $44M | $132M | $19M | $91M | $65M | $26M | $37M | $21M | $56.9K | $30M | $2M | $562.5K | |
| Prepaid Expense | $5M | $4M | $5M | $5M | $2M | $3M | $2M | $932.6K | $2M | $699.1K | $961.4K | $829.6K | $177.5K | $116.6K | $308.3K | $66.4K | |
| Current Assets | $68M | $70M | $138M | $106M | $61M | $160M | $31M | $102M | $74M | $32M | $40M | $32M | $234.4K | $33M | $2M | $629.0K | |
| PP&E (Net) | $2M | $2M | $2M | $2M | $1M | $1M | $888.5K | $692.3K | $547.6K | $400.7K | $261.9K | $177.9K | · | $18.6K | · | · | |
| PP&E (Gross) | $2M | $2M | $2M | $2M | $1M | $1M | $1M | $821.4K | $632.3K | $470.5K | $276.8K | $186.8K | · | $25.3K | · | · | |
| Accum. Depreciation | $700.3K | $590.3K | $485.3K | $386.2K | $298.5K | $231.7K | $175.4K | $129.1K | $84.7K | $69.8K | $14.9K | $8.9K | · | $6.7K | · | · | |
| Goodwill | $253M | $253M | $249M | $239M | $238M | $238M | $140M | $140M | $140M | $140M | $140M | $140M | · | $0 | · | · | |
| Intangibles | $63M | $66M | $70M | $71M | $75M | $80M | $25M | $26M | $28M | $30M | $31M | $33M | · | $0 | · | · | |
| Other Non-current Assets | $1M | $1M | $2M | $11M | $2M | $2M | $2M | $2M | $2M | $998.9K | · | $2M | · | · | · | · | |
| Total Assets | $830M | $902M | $919M | $848M | $857M | $874M | $477M | $484M | $377M | $332M | $304M | $277M | $30M | $59M | $100M | $346M | |
| Accounts Payable | · | · | · | · | · | · | · | · | · | · | $2.0K | $401.5K | $85.8K | $40.0K | · | · | |
| Accrued Liabilities | $7M | $11M | $9M | $5M | $3M | $6M | $3M | $2M | $707.2K | $4M | $636.8K | $524.4K | $10M | $0 | $8M | $150.7K | |
| Current Liabilities | $36M | $149M | $148M | $140M | $131M | $62M | $24M | $55M | $24M | $23M | $5M | $14M | $16M | $1M | $13M | · | |
| Capital Leases | $10M | $5M | $5M | $5M | $4M | $5M | $2M | $2M | $2M | $2M | $0 | $16.9K | · | $29.3K | · | · | |
| Deferred Tax | $28M | $30M | $31M | $28M | $28M | $27M | $12M | $12M | $10M | $9M | $11M | $9M | · | $1M | · | · | |
| Total Liabilities | $407M | $479M | $479M | $427M | $421M | $451M | $219M | $227M | $211M | $168M | $138M | $117M | $20M | $31M | $30M | $21M | |
| Long-term Debt | $330M | $406M | $409M | · | · | $381M | · | · | · | · | · | · | · | · | · | · | |
| Total Debt | $330M | · | $409M | $1M | $1M | · | $14M | · | $16M | · | · | · | · | · | · | · | |
| Paid-in Capital | $522M | $516M | $514M | $499M | $496M | $494M | $310M | $303M | $210M | $200M | $194M | $189M | · | $705.0K | · | · | |
| Retained Earnings | $-34M | $-42M | $-29M | $-36M | $-53M | $-58M | $-40M | $-35M | $-36M | $-35M | $-29M | $-29M | $-20M | $25M | $-28M | $-20M | |
| Treasury Stock | $70M | $56M | $50M | $47M | $12M | $12M | $12M | $12M | $9M | $1M | · | · | · | $0 | · | · | |
| AOCI | · | $0 | · | · | · | $0 | $32.7K | $64.3K | $120.3K | $108.4K | $100.2K | $877.3K | · | $1M | · | · | |
| Stockholders' Equity | $418M | $419M | $435M | $417M | $431M | $423M | $258M | $257M | $165M | $164M | $166M | $160M | $-20M | $28M | $-27M | $-20M | |
| Liabilities + Equity | $830M | $902M | $919M | $848M | $857M | $874M | $477M | $484M | $377M | $332M | $304M | $277M | $30M | $59M | $100M | $346M | |
| Shares Outstanding | 95,983,416 | 97,473,634 | 97,704,800 | 91,824,768 | 95,804,813 | 95,682,968 | 74,708,213 | 74,436,341 | 62,997,292 | 63,242,173 | 63,349,823 | 62,961,688 | · | 50,369,350 | · | · |
Cash Flow 17
| Metric | Trend | 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 | Q2 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $4M | $4M | $4M | $5M | $5M | $3M | $2M | $2M | $2M | $2M | $2M | $1.1K | $1.0K | $1.1K | $1.1K | $1.1K | |
| Stock-based Comp | $6M | $5M | $5M | $3M | $2M | $25M | $6M | $6M | $6M | $6M | $5M | $0 | $0 | $0 | · | · | |
| Deferred Tax | · | · | · | · | · | $2M | $16.5K | $4M | $456.2K | $-1M | $1M | $909.1K | $-656.5K | $241.1K | $-351.0K | · | |
| Amort. of Intangibles | $4M | $4M | $4M | $5M | $5M | $3M | $2M | $2M | $2M | $2M | $2M | $0 | $0 | $0 | $0 | · | |
| Other Non-cash | $74M | · | · | · | $-73M | · | · | · | $-5M | · | · | · | · | · | · | · | |
| Operating Cash Flow | $92M | $-7M | $-33M | $76M | $-62M | $-92M | $-52M | $-67M | $3M | $-14M | $-12M | $-38M | $-17M | $17M | $-6M | $-4M | |
| CapEx | $133.9K | $112.5K | $171.6K | $422.9K | $224.4K | $192.8K | $242.5K | $189.1K | $161.8K | $93.0K | $96.7K | $0 | $0 | $0 | · | · | |
| Investing Cash Flow | $-931.7K | $-9M | $-235.8K | $-10M | $-4M | $-4M | $-451.1K | $-709.5K | $-253.8K | $-327.9K | $10M | $-77M | $-998.3K | $-2M | $-2M | $-302.4K | |
| Debt Issued | $744.4K | $0 | $25M | $9M | $16M | $100M | $-27M | $9M | $43M | · | · | · | $8M | · | · | · | |
| Net Debt Issued | $744.4K | · | · | · | $-22M | · | · | · | $43M | · | · | · | · | · | · | · | |
| Stock Issued | · | $0 | $0 | · | · | $90M | $0 | · | · | $0 | $0 | · | · | · | · | · | |
| Stock Repurchased | $14M | $6M | $3M | $35M | $0 | $0 | $0 | $3M | $8M | $1M | $0 | $0 | $0 | · | · | · | |
| Net Stock Activity | $-14M | · | · | · | $0 | · | · | · | $-8M | · | · | · | · | · | · | · | |
| Financing Cash Flow | $-92M | $-32M | $45M | $-35M | $-23M | $208M | $-19M | $93M | $38M | $3M | $18M | $105M | $8M | $11M | $4M | · | |
| Net Change in Cash | $-902.6K | $-48M | $12M | $31M | $-88M | $113M | $-72M | $26M | $40M | $-11M | $16M | $-9M | $-10M | $26M | $4M | $3M | |
| Taxes Paid | · | $3M | $6M | $0 | $0 | $-545.0K | $0 | $3M | $1.8K | $150.0K | $0 | $0 | $0 | · | · | · | |
| Free Cash Flow | $92M | · | · | · | $-62M | · | · | · | $2M | · | · | · | · | · | · | · |
Profitability 6
| Metric | Trend | 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 | Q2 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 89.4% | · | 87.8% | 89.2% | 83.9% | · | 92.2% | 90.6% | 87.3% | · | 84.1% | 91.5% | · | · | · | · | |
| Operating Margin | 30.9% | · | 35.6% | 40.1% | 47.6% | · | 24.3% | 23.3% | 10.5% | · | 29.8% | 73.6% | · | · | · | · | |
| Net Margin | 12.2% | · | 11.2% | 31.3% | 10.5% | · | -18.2% | 2.6% | -6.3% | · | 4.3% | 59.3% | · | · | · | · | |
| EBITDA Margin | 37.5% | · | 42.6% | 49.3% | 58.4% | · | 30.5% | 29.3% | 18.3% | · | 37.9% | 73.6% | · | · | · | · | |
| ROA | 0.86% | · | 1.0% | 2.6% | 0.75% | · | -1.3% | 0.20% | -0.66% | · | 0.45% | 2.2% | -0.08% | · | -2.8% | -0.33% | |
| ROE | 1.7% | · | 2.0% | 5.2% | 1.6% | · | -2.4% | 0.37% | -1.8% | · | 1.3% | 9.6% | 0.75% | · | 22.2% | 3.8% |
Liquidity & Solvency 5
| Metric | Trend | 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 | Q2 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.9 | · | 0.9 | 0.8 | 0.5 | · | 1.3 | 1.8 | 3.1 | · | 7.2 | 2.3 | 0.0 | · | 0.2 | · | |
| Quick Ratio | 1.0 | · | 0.6 | 0.5 | 0.3 | · | 0.8 | 1.6 | 2.7 | · | 6.7 | 1.5 | 0.0 | · | 0.1 | · | |
| Debt / Equity | 0.8 | · | 0.9 | 0.0 | 0.0 | · | 0.1 | · | 0.1 | · | · | · | · | · | · | · | |
| LT Debt / Equity | 0.8 | · | 0.7 | · | · | · | · | · | · | · | · | · | · | · | · | · | |
| Interest Coverage | · | · | · | · | · | · | · | · | 0.6 | · | 2.4 | 14.3 | · | · | · | · |
Efficiency 1
| Metric | Trend | 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 | Q2 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | 0.0 | · | · | · | · |
Valuation (TTM) 14
| Metric | Trend | 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 | Q2 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $223M | · | $191M | $158M | $123M | · | $100M | $83M | $64M | · | $54M | $42M | · | · | · | · | |
| Net Income TTM | $37M | · | $24M | $18M | $-1M | · | $-5M | $7M | $14M | · | $26M | $30M | $32M | · | $35M | $18M | |
| Market Cap | $756M | · | $560M | $472M | $718M | · | $756M | $644M | $767M | · | $433M | $632M | · | · | · | · | |
| Enterprise Value | $1.05B | · | $883M | $398M | $675M | · | $750M | · | $718M | · | · | · | · | · | · | · | |
| P/E | 21.3 | · | 24.9 | 30.2 | -249.7 | · | -144.6 | 66.5 | 43.5 | · | 13.7 | 17.3 | · | · | · | · | |
| P/S | 3.4 | · | 2.9 | 3.0 | 5.8 | · | 7.6 | 7.8 | 11.9 | · | 8.0 | 15.2 | · | · | · | · | |
| P/B | 1.8 | · | 1.3 | 1.1 | 1.7 | · | 2.9 | 2.5 | 4.6 | · | 2.6 | 3.9 | · | · | · | · | |
| P / Tangible Book | 7.4 | · | 4.9 | 4.4 | 6.1 | · | 8.1 | 7.1 | · | · | · | · | · | · | · | · | |
| P / Cash Flow | 8.2 | · | · | · | -11.7 | · | · | · | 338.4 | · | · | · | · | · | · | · | |
| P / FCF | 8.3 | · | · | · | -11.6 | · | · | · | 364.5 | · | · | · | · | · | · | · | |
| EV / EBITDA | 47.1 | · | 32.9 | 14.4 | 26.2 | · | 87.3 | · | 182.3 | · | · | · | · | · | · | · | |
| EV / FCF | 11.5 | · | · | · | -10.9 | · | · | · | 340.8 | · | · | · | · | · | · | · | |
| EV / Revenue | 4.7 | · | 4.6 | 2.5 | 5.5 | · | 7.5 | · | 11.2 | · | · | · | · | · | · | · | |
| Earnings Yield | 4.7% | · | 4.0% | 3.3% | -0.40% | · | -0.69% | 1.5% | 2.3% | · | 7.3% | 5.8% | · | · | · | · |
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 | $235M | $112M | $66M | $45M | — |
| Gross Margin % | 87.7% | 89.8% | — | — | — |
| Operating Margin % | 37.7% | -0.79% | — | — | — |
| Net Income | $37M | $-24M | $10M | $32M | $16M |
| Diluted EPS | $0.36 | $-0.34 | $0.16 | $0.63 | — |
Balance Sheet
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Debt / Equity | 1.0 | 0.0 | — | — | — |
| Current Ratio | 0.5 | 2.6 | — | — | — |
| Quick Ratio | 0.3 | 2.1 | — | — | — |
Cash Flow
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Free Cash Flow | $-27M | $-210M | — | — | — |
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Institutional owners (13F) 168 filers · $217.7M 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 |
|---|---|---|---|---|
| 48 (+16 vs prior Q) | 19 (+2 vs prior Q) | 39 (0 vs prior Q) | 44 (+9 vs prior Q) | +599K |
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 |
|---|---|---|---|---|
| ROYCE & ASSOCIATES LP | $24,882,939 | 2,323,337 | 11.43% | Shares |
| Curi Capital, LLC | $18,207,000 | 1,700,000 | 8.36% | Shares |
| VANGUARD GROUP INC | $17,551,808 | 2,052,843 | 8.06% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $17,108,914 | 1,597,471 | 7.86% | Shares |
| Alta Fundamental Advisers LLC | $11,755,714 | 1,097,639 | 5.40% | Shares |
| STATE OF WISCONSIN INVESTMENT BOARD | $9,342,579 | 872,323 | 4.29% | Shares |
| STATE STREET CORP | $9,111,661 | 850,762 | 4.19% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $6,955,154 | 649,167 | 3.19% | Shares |
| QTR Family Wealth, LLC | $6,872,446 | 641,685 | 3.16% | Shares |
| ASHFORD CAPITAL MANAGEMENT INC | $6,815,412 | 864,900 | 3.13% | Shares |
| KENNEDY CAPITAL MANAGEMENT LLC | $6,726,201 | 628,030 | 3.09% | Shares |
| Foundry Partners, LLC | $5,669,608 | 756,957 | 2.60% | Shares |
| Alyeska Investment Group, L.P. | $4,316,783 | 403,061 | 1.98% | Shares |
| National Philanthropic Trust | $4,016,250 | 375,000 | 1.84% | Shares |
| JANE STREET GROUP, LLC | $3,641,571 | 340,016 | 1.67% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $2,984,320 | 278,648 | 1.37% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $2,671,824 | 249,470 | 1.23% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $2,448,145 | 228,585 | 1.12% | Shares |
| PANAGORA ASSET MANAGEMENT INC | $2,335,733 | 218,089 | 1.07% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $2,275,875 | 212,500 | 1.05% | Call option |
| Point72 Asset Management, L.P. | $2,209,452 | 206,298 | 1.01% | Shares |
| Grandeur Peak Global Advisors, LLC | $2,203,979 | 205,787 | 1.01% | Shares |
| Manatuck Hill Partners, LLC | $2,142,000 | 200,000 | 0.98% | Shares |
| Caption Management, LLC | $2,013,480 | 188,000 | 0.92% | Put option |
| AWM Investment Company, Inc. | $1,903,938 | 177,772 | 0.87% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $1,763,423 | 164,652 | 0.81% | Shares |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | $1,757,939 | 164,140 | 0.81% | Shares |
| PNC Financial Services Group, Inc. | $1,632,386 | 152,417 | 0.75% | Shares |
| GOLDMAN SACHS GROUP INC | $1,504,766 | 140,501 | 0.69% | Shares |
| CITADEL ADVISORS LLC | $1,345,637 | 125,643 | 0.62% | Shares |
| CREDIT AGRICOLE S A | $1,338,750 | 125,000 | 0.61% | Shares |
| SEGALL BRYANT & HAMILL, LLC | $1,335,730 | 124,718 | 0.61% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $1,333,395 | 124,500 | 0.61% | Put option |
| Kodai Capital Management LP | $1,184,918 | 158,200 | 0.54% | Shares |
| PICTON MAHONEY ASSET MANAGEMENT | $1,152,996 | 107,656 | 0.53% | Shares |
| MENDON CAPITAL ADVISORS CORP | $1,071,000 | 100,000 | 0.49% | Shares |
| CITADEL ADVISORS LLC | $1,036,728 | 96,800 | 0.48% | Put option |
| Aquatic Capital Management LLC | $1,027,999 | 95,985 | 0.47% | Shares |
| JUPITER ASSET MANAGEMENT LTD | $963,268 | 89,941 | 0.44% | Shares |
| UBS Group AG | $873,304 | 81,541 | 0.40% | Shares |
| Bank of New York Mellon Corp | $867,435 | 80,993 | 0.40% | Shares |
| JB CAPITAL PARTNERS LP | $856,800 | 80,000 | 0.39% | Shares |
| BNP PARIBAS FINANCIAL MARKETS | $816,380 | 76,226 | 0.37% | Shares |
| Balyasny Asset Management L.P. | $816,070 | 76,197 | 0.37% | Shares |
| CITADEL ADVISORS LLC | $774,333 | 72,300 | 0.36% | Call option |
| BlackRock, Inc. | $748,479 | 69,886 | 0.34% | Shares |
| Swiss National Bank | $726,138 | 67,800 | 0.33% | Shares |
| Weiss Asset Management LP | $697,639 | 65,139 | 0.32% | Shares |
| Capital Investment Advisory Services, LLC | $696,857 | 65,066 | 0.32% | Shares |
| Engineers Gate Manager LP | $605,725 | 56,557 | 0.28% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $597,350 | 55,775 | 0.27% | Shares |
| Squarepoint Ops LLC | $594,951 | 55,551 | 0.27% | Shares |
| AMERICAN CENTURY COMPANIES INC | $546,092 | 50,989 | 0.25% | Shares |
| Man Group plc | $516,993 | 48,272 | 0.24% | Shares |
| Lakeview Capital Partners, LLC | $478,609 | 61,125 | 0.22% | Shares |
| MILLENNIUM MANAGEMENT LLC | $464,664 | 43,386 | 0.21% | Shares |
| VARCOV Co. | $412,796 | 38,543 | 0.19% | Shares |
| RHUMBLINE ADVISERS | $369,658 | 34,516 | 0.17% | Shares |
| BANK OF AMERICA CORP /DE/ | $365,061 | 34,086 | 0.17% | Shares |
| MARSHALL WACE, LLP | $362,105 | 33,810 | 0.17% | Shares |
| CITIGROUP INC | $319,854 | 29,865 | 0.15% | Shares |
| HSBC HOLDINGS PLC | $285,249 | 25,979 | 0.13% | Shares |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM | $281,316 | 35,700 | 0.13% | Shares |
| Ashton Thomas Private Wealth, LLC | $276,350 | 25,803 | 0.13% | Shares |
| Jump Financial, LLC | $272,034 | 25,400 | 0.12% | Shares |
| WELLS FARGO & COMPANY/MN | $269,496 | 25,163 | 0.12% | Shares |
| MML INVESTORS SERVICES, LLC | $264,381 | 24,685 | 0.12% | Shares |
| Vanguard Global Advisers, LLC | $258,711 | 24,156 | 0.12% | Shares |
| BRC Group Holdings, Inc. | $257,115 | 24,007 | 0.12% | Shares |
| MetLife Investment Management, LLC | $255,915 | 23,895 | 0.12% | Shares |
| VANGUARD ASSET MANAGEMENT, Ltd | $253,624 | 23,681 | 0.12% | Shares |
| DUPONT CAPITAL MANAGEMENT CORP | $246,330 | 23,000 | 0.11% | Shares |
| Oasis Management Co Ltd. | $246,330 | 23,000 | 0.11% | Shares |
| Jain Global LLC | $243,931 | 22,776 | 0.11% | Shares |
| BARCLAYS PLC | $239,208 | 22,335 | 0.11% | Shares |
| SUSQUEHANNA FUNDAMENTAL INVESTMENTS, LLC | $220,551 | 20,593 | 0.10% | Shares |
| Nuveen, LLC | $204,100 | 19,057 | 0.09% | Shares |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC | $201,507 | 25,572 | 0.09% | Shares |
| Zurcher Kantonalbank (Zurich Cantonalbank) | $190,638 | 17,800 | 0.09% | Shares |
| Russell Investments Group, Ltd. | $190,134 | 17,753 | 0.09% | Shares |
| World Investment Advisors | $189,106 | 17,657 | 0.09% | Shares |
| ALLIANCEBERNSTEIN L.P. | $188,332 | 23,900 | 0.09% | Shares |
| Geneos Wealth Management Inc. | $185,283 | 17,300 | 0.09% | Shares |
| Swiss Life Asset Management Ltd | $181,170 | 16,916 | 0.08% | Shares |
| KLP KAPITALFORVALTNING AS | $180,999 | 16,900 | 0.08% | Shares |
| JANUS HENDERSON GROUP PLC | $172,002 | 21,800 | 0.08% | Shares |
| Centiva Capital, LP | $168,083 | 15,694 | 0.08% | Shares |
| IMC-Chicago, LLC | $164,966 | 15,403 | 0.08% | Shares |
| State of Wyoming | $163,435 | 15,260 | 0.08% | Shares |
| JANE STREET GROUP, LLC | $161,721 | 15,100 | 0.07% | Put option |
| GROUP ONE TRADING LLC | $152,457 | 14,235 | 0.07% | Shares |
| Brevan Howard Capital Management LP | $150,818 | 14,082 | 0.07% | Shares |
| DIVERSIFIED TRUST CO | $149,800 | 13,987 | 0.07% | Shares |
| Police & Firemen's Retirement System of New Jersey | $149,565 | 13,965 | 0.07% | Shares |
| Inscription Capital, LLC | $146,559 | 13,684 | 0.07% | Shares |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. | $138,502 | 12,932 | 0.06% | Shares |
| AlphaQuest LLC | $130,644 | 15,280 | 0.06% | Shares |
| D. E. Shaw & Co., Inc. | $130,630 | 12,197 | 0.06% | Shares |
| Empirical Asset Management, LLC | $126,367 | 11,799 | 0.06% | Shares |
| AXXCESS WEALTH MANAGEMENT, LLC | $122,887 | 11,474 | 0.06% | Shares |
Company insiders 10 insiders · 6 officers · 4 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| William Hugh Mccauley JR | Chief Financial Officer | July 3, 2025 A | 795,000 | 0 | 0 | $0 |
| Gary L. Hagerman Jr. | CFO and Treasurer | July 30, 2020 P | 1,000 | 0 | 0 | $0 |
| Adam Samuel Gusky | Chief Investment Officer | June 3, 2021 P | 3,018 | 0 | 0 | $0 |
| Jacob R. Long | Vice President, Operations | Aug. 3, 2020 P | 5,000 | 0 | 0 | $0 |
| Benjamin M. Wingard | VP, Business Development | July 31, 2020 P | 4,000 | 0 | 0 | $0 |
| John P. Sieminski | Secretary | July 29, 2020 P | 2,500 | 0 | 0 | $0 |
| Mary Beth Schulte | Director | Aug. 23, 2023 P | 13,000 | 0 | 0 | $0 |
| William A. Fustos | Director | Sept. 23, 2020 P | 22,000 | 0 | 0 | $0 |
| Allen F. Sobol | Director | July 30, 2020 P | 5,000 | 0 | 0 | $0 |
| Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp | 10% owner | Feb. 22, 2023 J | 0 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
Activists & 5%+ owners 7 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 |
|---|---|---|---|---|---|
| Pillo Portsmouth Holding Company, LLC, José Esteban Casares Garcia | Dec. 10, 2024 | — | Initial filing | — | SEC |
| Jay Jackson ×2 filings | Oct. 20, 2023 | — | Initial filing | — | SEC |
| Sean McNealy ×2 filings | Oct. 20, 2023 | — | Initial filing | — | SEC |
| Matthew Ganovsky ×2 filings | Oct. 20, 2023 | — | Initial filing | — | SEC |
| Kevin Scott Kirby ×2 filings | Oct. 20, 2023 | — | Initial filing | — | SEC |
| Terrence M. Pegula, East Asset Management, LLC, East Sponsor, LLC ×2 filings | Oct. 17, 2023 | — | Initial filing | — | SEC |
| Adage Capital Partners, L.P., Adage Capital Partners GP, L.L.C., Adage Capital Advisors, L.L.C., Robert Atchinson, Phillip Gross ×2 filings | Jan. 24, 2023 | — | Initial filing | — | 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 45 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 |
|---|---|---|---|---|
| RING · iShares, Inc. | 9.69% | 5,259,753 SH | Aug. 8, 2026 | Daily |
| ICOP · iShares Trust | 3.58% | 400,573 SH | Aug. 8, 2026 | Daily |
| EWC · iShares, Inc. | 2.21% | 3,409,261 SH | Aug. 8, 2026 | Daily |
| MXI · iShares Trust | 2.20% | 188,885 SH | Aug. 8, 2026 | Daily |
| IDMO · Invesco Exchange-Traded Fund Trust … | 1.56% | 1,517,990 SH | Aug. 8, 2026 | Daily |
| IDHQ · Invesco Exchange-Traded Fund Trust … | 1.14% | 258,261 SH | Aug. 8, 2026 | Daily |
| IMTM · iShares Trust | 0.58% | 596,588 SH | Aug. 8, 2026 | Daily |
| IVLU · iShares Trust | 0.48% | 522,145 SH | Aug. 8, 2026 | Daily |
| IQLT · iShares Trust | 0.42% | 1,417,529 SH | Aug. 8, 2026 | Daily |
| INTF · iShares Trust | 0.25% | 225,710 SH | Aug. 8, 2026 | Daily |
| IDEV · iShares Trust | 0.23% | 1,792,657 SH | Aug. 8, 2026 | Daily |
| VEA · VANGUARD TAX-MANAGED FUNDS | 0.19% | 16,309,462 SH | Aug. 8, 2026 | Daily |
| PXF · Invesco Exchange-Traded Fund Trust … | 0.19% | 125,268 SH | Aug. 8, 2026 | Daily |
| ACWX · iShares Trust | 0.19% | 528,689 SH | Aug. 8, 2026 | Daily |
| IXUS · iShares Trust | 0.16% | 2,293,978 SH | Aug. 8, 2026 | Daily |
| VEU · VANGUARD INTERNATIONAL EQUITY INDEX… | 0.15% | 3,904,530 SH | Aug. 8, 2026 | Daily |
| IMFL · Invesco Exchange-Traded Self-Indexe… | 0.15% | 36,131 SH | Aug. 8, 2026 | Daily |
| VXUS · VANGUARD STAR FUNDS | 0.14% | 24,513,561 SH | Aug. 8, 2026 | Daily |
| TOK · iShares Trust | 0.08% | 4,933 SH | Aug. 8, 2026 | Daily |
| URTH · iShares, Inc. | 0.08% | 153,095 SH | Aug. 8, 2026 | Daily |
| IWC · iShares Trust | 0.07% | 96,009 SH | Aug. 8, 2026 | Daily |
| ACWI · iShares Trust | 0.07% | 529,061 SH | Aug. 8, 2026 | Daily |
| VT · VANGUARD INTERNATIONAL EQUITY INDEX… | 0.05% | 1,399,509 SH | Aug. 8, 2026 | Daily |
| OMFS · Invesco Exchange-Traded Self-Indexe… | 0.03% | 9,526 SH | Aug. 8, 2026 | Daily |
| IWO · iShares Trust | 0.01% | 203,049 SH | Aug. 8, 2026 | Daily |
| AVSC · AMERICAN CENTURY ETF TRUST | 0.01% | 42,632 NS | May 31, 2026 | N-PORT |
| RSSL · Global X Funds | 0.01% | 17,830 NS | April 30, 2026 | N-PORT |
| VTWO · VANGUARD SCOTTSDALE FUNDS | 0.01% | 161,915 SH | Aug. 8, 2026 | Daily |
| VTWV · VANGUARD SCOTTSDALE FUNDS | 0.01% | 6,496 SH | Aug. 8, 2026 | Daily |
| VTWG · VANGUARD SCOTTSDALE FUNDS | 0.01% | 22,429 SH | Aug. 8, 2026 | Daily |
| IWM · iShares Trust | 0.01% | 763,712 SH | Aug. 8, 2026 | Daily |
| ITWO · ProShares Trust | 0.01% | 1,899 NS | May 31, 2026 | N-PORT |
| IWN · iShares Trust | 0.01% | 96,962 SH | Aug. 8, 2026 | Daily |
| SCHA · SCHWAB STRATEGIC TRUST | 0.01% | 152,978 NS | May 31, 2026 | N-PORT |
| UWM · ProShares Trust | 0.01% | 1,486 NS | May 31, 2026 | N-PORT |
| WSML · iShares Trust | 0.00% | 3,118 SH | Aug. 8, 2026 | Daily |
| FNCL · FIDELITY COVINGTON TRUST | 0.00% | 10,343 NS | April 30, 2026 | N-PORT |
| URTY · ProShares Trust | 0.00% | 1,504 NS | May 31, 2026 | N-PORT |
| HDG · ProShares Trust | 0.00% | 38 NS | May 31, 2026 | N-PORT |
| MSSM · MORGAN STANLEY PATHWAY FUNDS | 0.00% | 1,002 NS | May 31, 2026 | N-PORT |
| SCHB · SCHWAB STRATEGIC TRUST | 0.00% | 21,503 NS | May 31, 2026 | N-PORT |
| VXF · VANGUARD INDEX FUNDS | 0.00% | 357,160 SH | Aug. 8, 2026 | Daily |
| VTI · VANGUARD INDEX FUNDS | 0.00% | 1,200,445 SH | Aug. 8, 2026 | Daily |
| VTHR · VANGUARD SCOTTSDALE FUNDS | 0.00% | 3,074 SH | Aug. 8, 2026 | Daily |
| VFH · VANGUARD WORLD FUND | 0.00% | 55,556 SH | Aug. 8, 2026 | Daily |