AGPU Axe Compute Inc. - Common Stock
$9.97
Price · Aug 19, 2026
Fundamentals as of Aug 14, 2026
52W Range
$1–$32
29% of range
Analyst Rating
HOLD
6 analysts
Price Target
—
P/E (TTM)
—
ROE
-1012.1%
Net Profit Margin
-186053.5%
AGPU Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$9.97
Market Cap
$41M
P/E (TTM)
—
EPS (TTM)
—
Revenue (TTM)
$125.3K
Div Yield
—
ROE
-1012.1%
Debt/Equity
0.0
52W Range
$1 – $32
AGPU 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
$125.3K
2017-12-31
→
2025-12-31
EPS
—
Free Cash Flow
$-10M
2017-12-31
→
2025-12-31
Margins
-186053.5%
2017-12-31
→
2024-12-31
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Metric
5Y trend
AGPU
Peer Median
P/S (TTM)
324.9
—
P/B
0.9
—
EV / EBITDA
-0.2
—
Price / FCF
-4.1
—
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Metric
5Y trend
AGPU
Peer Median
Operating Margin
-144404.5%
—
Net Profit Margin
-186053.5%
—
ROA
-805.7%
—
ROE
-1012.1%
—
Financial Health Debt, liquidity, solvency — balance sheet strength
Metric
5Y trend
AGPU
Peer Median
Debt / Equity
0.0
—
Current Ratio
10.0
—
Quick Ratio
2.5
—
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Metric
5Y trend
AGPU
Peer Median
Revenue YoY
47.7%
—
Revenue CAGR 3Y
-56.3%
—
Revenue CAGR 5Y
-36.9%
—
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
Metric
5Y trend
AGPU
Peer Median
AGPU Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
SELL
6 analysts
- Strong Buy 0 0.0%
- Buy 0 0.0%
- Hold 3 50.0%
- Sell 1 16.7%
- Strong Sell 2 33.3%
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
-2.1%
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| March 31, 2025 | $-5.10 | $-1.38 | -3.7% |
| Dec. 31, 2024 | $-3.60 | $-3.83 | 0.23% |
| Sept. 30, 2024 | $-7.20 | $-4.90 | -2.3% |
| March 31, 2022 | $-15.00 | $-12.24 | -2.8% |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| AGPU | $29M | — | 47.7% | -186053.5% | -1012.1% | — |
| APYX | $146M | -6.1 | 9.9% | -21.2% | -78.0% | 62.5% |
| VANI | $94M | -2.9 | — | — | -257.8% | — |
| GUTS | $337M | -1.2 | -22.5% | — | 3220.3% | — |
| MBOT | $134M | -6.9 | — | — | -24.4% | — |
| KEQU | $106M | 11.5 | 17.3% | 3.4% | 13.3% | 28.5% |
| LNSR | — | -4.1 | 9.2% | — | — | — |
| HSDT | $126M | -1.6 | 1057.1% | -679.6% | -26.6% | 91.7% |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement 15
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $125.3K | $84.8K | $2M | $2M | $1M | $1M | $1M | $1M | $654.8K | $456.5K | $654.4K | $951.6K | |
| Cost of Revenue | · | $78.3K | $609.2K | $505.1K | $487.0K | $447.2K | $531.8K | $415.8K | $148.0K | $181.6K | $304.0K | $385.3K | |
| Gross Profit | · | $797.7K | $1M | $1M | $933.7K | $805.1K | $879.8K | $995.9K | $506.8K | $274.9K | $350.4K | $566.2K | |
| R&D Expense | · | $2M | $122.3K | $320.3K | $315.9K | $372.7K | $423.0K | $526.3K | $289.0K | $406.0K | $261.0K | $394.0K | |
| SG&A Expense | $26M | $7M | $8M | $11M | $11M | $10M | $10M | $5M | $4M | $5M | $3M | $5M | |
| Operating Expenses | $29M | $10M | $13M | $27M | · | · | · | $8M | $6M | · | · | · | |
| Operating Income | $-181M | $-10M | $-12M | $-26M | $-20M | $-25M | $-23M | $-8M | · | · | · | · | |
| Interest Expense | · | · | · | · | · | · | · | · | · | $3 | $390.9K | $377.7K | |
| Pretax Income | · | · | · | $-26M | $-20M | $-26M | · | · | · | · | · | · | |
| Income Tax | $0 | $0 | $0 | $0 | $-661.7K | $0 | · | · | · | $0 | $0 | · | |
| Net Income | $-233M | $-13M | $-14M | $-26M | $-20M | $-26M | $-19M | $-10M | · | · | · | $-7M | |
| EPS (Basic) | $-13.37 | $-34.83 | $-3.48 | $-6.98 | $-0.36 | · | · | · | · | · | · | · | |
| Shares (Basic) | 17,429,861 | 363,583 | 4,014,848 | 3,685,954 | 54,876,044 | 11,950,154 | 2,870,132 | 1,281,629 | 6,362,989 | 2,823,345 | 155,233 | 2,990,471 | |
| Shares (Diluted) | 17,429,861 | 363,583 | 4,014,848 | 3,685,954 | 54,876,044 | 11,950,154 | 2,870,132 | 1,281,629 | 6,362,989 | · | 3,880,828 | 2,990,471 | |
| EBITDA | $-181M | $-11M | $-13M | $-25M | $-19M | $-24M | $-13M | $147.6K | $71.6K | $82.4K | $78.6K | · |
Balance Sheet 28
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $11M | $611.8K | $9M | $22M | $28M | $678.3K | $150.8K | $162.2K | $766.2K | $2M | $5M | $16.4K | |
| Receivables | $32.1K | $34.2K | $277.6K | $331.2K | $354.2K | $256.9K | $297.1K | $232.6K | $137.5K | $38.9K | $38.3K | $57.5K | |
| Inventory | · | $45.8K | $480.8K | $430.5K | $387.7K | $289.5K | $190.2K | $241.1K | $265.0K | $272.2K | $231.7K | $367.4K | |
| Prepaid Expense | $280.9K | $318.5K | $512.1K | $526.8K | $513.8K | $289.5K | $160.2K | $318.4K | $290.0K | $148.6K | $271.6K | $190.0K | |
| Current Assets | $43M | $2M | $10M | $23M | $29M | $2M | $798.3K | $1M | $2M | $3M | $5M | $631.3K | |
| PP&E (Net) | $223.1K | $347.6K | $491.2K | $2M | $3M | $4M | $2M | $180.5K | $87.7K | $101.5K | $139.6K | $196.5K | |
| PP&E (Gross) | $2M | $2M | $3M | $5M | $5M | $5M | $2M | $539.2K | $361.5K | $316.4K | $283.7K | $275.4K | |
| Accum. Depreciation | $2M | $2M | $2M | $3M | $2M | $1M | $771.6K | $358.8K | $273.8K | $214.9K | $144.1K | $79.0K | |
| Goodwill | · | · | · | $0 | $7M | $3M | $16M | $0 | · | · | · | · | |
| Intangibles | · | $51.0K | $241.3K | $253.9K | $4M | $3M | $4M | $964.5K | $95.4K | $97.9K | $95.0K | $73.2K | |
| Other Non-current Assets | $148.9K | $149.4K | $105.5K | $75.6K | $167.1K | $116.3K | · | · | · | · | · | · | |
| Total Assets | $53M | $5M | $14M | $26M | $44M | $13M | $22M | $4M | $4M | $3M | $6M | $901.0K | |
| Accounts Payable | $2M | $1M | $1M | $943.5K | $1M | $1M | $3M | $445.7K | $140.5K | $220.1K | $650.4K | $2M | |
| Accrued Liabilities | $2M | $1M | $2M | $2M | $1M | $3M | $2M | $1M | $785.2K | $1M | $864.3K | $3M | |
| Short-term Debt | $108.0K | $0 | $150.4K | $0 | $0 | $4M | $5M | $2M | · | · | · | · | |
| Current Liabilities | $4M | $4M | $4M | $4M | $3M | $9M | $11M | $4M | $932.3K | $2M | $2M | $6M | |
| Capital Leases | $904.5K | $2M | $2M | $86.1K | $239.7K | $845.1K | $270.3K | · | · | · | · | · | |
| Other Non-current Liabilities | · | $23.5K | $5.5K | $0 | $25.4K | $235.7K | · | · | · | · | · | · | |
| Total Liabilities | $5M | $5M | $6M | $4M | $4M | $10M | $11M | $4M | $932.3K | $2M | $2M | $6M | |
| Long-term Debt | · | · | · | · | $0 | · | · | · | · | · | · | · | |
| Total Debt | $108.0K | $0 | $150.4K | · | $0 | $4M | $11M | $307.0K | · | · | · | · | |
| Common Stock | $40.8K | $4.4K | $40.6K | $39.4K | $656.1K | $198.0K | $40.6K | $14.1K | $69.4K | $45.6K | $2.1K | $30.9K | |
| Paid-in Capital | $461M | $180M | $176M | $176M | $168M | $111M | $94M | $63M | $56M | $48M | $45M | $30M | |
| Retained Earnings | $-414M | $-180M | $-168M | $-154M | $-128M | $-108M | $-82M | $-63M | $-53M | $-47M | $-40M | $-36M | |
| AOCI | · | · | · | · | · | · | · | · | · | $1.5K | · | · | |
| Stockholders' Equity | $48M | $-202.6K | $8M | $8M | $40M | $3M | $11M | $53.5K | $3M | $923.7K | $4M | $-6M | |
| Liabilities + Equity | $53M | $5M | $14M | $26M | $44M | $13M | $22M | $4M | $4M | $3M | $6M | $901.0K | |
| Shares Outstanding | 4,083,173 | 444,475 | 4,062,853 | 3,938,160 | 65,614,597 | 19,804,787 | 4,056,652 | 1,409,175 | 6,943,283 | 4,564,428 | 208,258 | 3,092,766 |
Cash Flow 16
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $129.0K | $132.3K | $244.8K | $1M | $1M | $1M | $704.9K | $147.6K | $71.6K | $82.4K | $78.6K | $63.0K | |
| Stock-based Comp | $1M | $906 | $1.2K | $166.3K | $715.9K | $721.3K | $2M | $1M | $2M | $165.3K | $871.9K | $723.4K | |
| Amort. of Intangibles | · | $26.5K | $26.5K | $414.7K | $374.3K | $313.7K | $290.6K | $62.6K | $12.7K | $9.1K | $6.3K | · | |
| Other Non-cash | $222M | $2M | $53.2K | $12M | $5M | $12M | $8M | · | · | · | · | · | |
| Operating Cash Flow | $-10M | $-10M | $-12M | $-12M | $-12M | $-12M | $-9M | $-5M | $-4M | $-4M | $-7M | $-3M | |
| CapEx | $0 | $9.5K | $21.5K | $419.9K | $910.4K | $298.4K | $5.9K | $177.7K | $45.1K | $32.8K | $32.5K | $101.4K | |
| Investing Cash Flow | · | · | $-302.4K | $-475.7K | $-11M | $-167.5K | $-599.1K | $-1M | $-2M | $-422.9K | · | · | |
| Debt Issued | · | · | · | · | · | · | · | · | · | · | · | $2M | |
| Net Debt Issued | · | · | · | · | · | · | · | · | · | · | · | $1M | |
| Stock Issued | $56M | $5M | $0 | $7M | $51M | $0 | $5M | $3M | $4M | $2M | $13M | $157.1K | |
| Stock Repurchased | · | $0 | $1.5K | $27.7K | $11.5K | $0 | · | · | · | · | · | · | |
| Net Stock Activity | $56M | $5M | $-1.5K | $6M | $51M | $5M | $5M | $3M | $4M | $2M | $13M | $157.1K | |
| Financing Cash Flow | · | · | $148.9K | $7M | $50M | $13M | $9M | $6M | $5M | $2M | · | · | |
| Net Change in Cash | $10M | $-8M | $-13M | $-6M | $28M | $527.5K | $-11.3K | $-604.0K | $-997.9K | · | · | $-85.6K | |
| Taxes Paid | $0 | $0 | · | · | · | · | · | · | · | · | · | · | |
| Free Cash Flow | $-10M | $-11M | $-13M | $-13M | $-13M | $-13M | $-9M | $-5M | $-5M | $-4M | $-8M | $-3M |
Profitability 8
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | · | 49.1% | 64.3% | 66.5% | 65.7% | 64.3% | 62.3% | 70.5% | 77.4% | 60.2% | 53.5% | 59.5% | |
| Operating Margin | -144404.5% | -673.7% | -791.2% | -1729.3% | -1438.0% | -2025.1% | -975.8% | · | · | · | · | · | |
| Net Margin | -186053.5% | -779.9% | -785.6% | -1709.6% | -1383.6% | -2067.0% | -1373.7% | · | · | · | · | -718.1% | |
| Pretax Margin | · | · | · | -1709.6% | -1430.2% | · | · | · | · | · | · | · | |
| EBITDA Margin | -144301.5% | -663.7% | -749.7% | -1642.1% | -1343.6% | -1943.3% | -925.9% | 10.5% | 10.9% | 18.0% | 12.0% | · | |
| ROA | -805.7% | -130.6% | -69.7% | -100.0% | -69.2% | -146.1% | -148.7% | · | · | · | · | -914.6% | |
| ROE | -1012.1% | -1435.6% | -140.4% | -100.2% | -44.6% | -347.9% | -121.4% | · | · | · | · | 156.5% | |
| ROIC | · | · | · | -119.6% | -49.1% | · | · | · | · | · | · | · |
Liquidity & Solvency 3
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 10.0 | 0.6 | 2.6 | 6.0 | 9.1 | 0.2 | 0.1 | 0.4 | 2.5 | 1.7 | 3.6 | 0.1 | |
| Quick Ratio | 2.5 | 0.4 | 2.3 | 5.8 | 8.8 | 0.1 | 0.0 | 0.1 | 1.0 | 1.1 | 3.2 | 0.0 | |
| Debt / Equity | 0.0 | 0.0 | 0.0 | · | 0.0 | 1.7 | 1.0 | 5.7 | · | · | · | · |
Efficiency 3
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.0 | 0.2 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.4 | 0.2 | 0.1 | 0.2 | 1.3 | |
| Inventory Turnover | · | 1.9 | 1.4 | 1.2 | 1.4 | 1.9 | 2.5 | 1.6 | 0.6 | 0.7 | 1.0 | 1.6 | |
| Receivables Turnover | 3.8 | 3.2 | 5.4 | 4.4 | 4.6 | 4.5 | 5.3 | 7.6 | 7.4 | 11.8 | 13.7 | 12.3 |
Growth Rates 3
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue YoY | 47.7% | -94.8% | 8.1% | 6.0% | 13.5% | · | · | · | · | · | · | · | |
| Revenue CAGR 3Y | -56.3% | -60.9% | 9.1% | · | · | · | · | · | · | · | · | · | |
| Revenue CAGR 5Y | -36.9% | · | · | · | · | · | · | · | · | · | · | · |
Valuation (TTM) 12
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $125.3K | $84.8K | $2M | $2M | $1M | $1M | $1M | $1M | $654.8K | $456.5K | $654.4K | $951.6K | |
| Net Income TTM | $-233M | $-13M | $-14M | $-26M | $-20M | $-26M | $-19M | $-10M | $-4M | $-4M | $-4M | $-7M | |
| Market Cap | $29M | $82M | · | · | · | · | · | · | · | · | · | · | |
| Enterprise Value | $19M | $81M | · | · | · | · | · | · | · | · | · | · | |
| P/S | 233.0 | 966.9 | · | · | · | · | · | · | · | · | · | · | |
| P/B | 0.6 | -404.7 | · | · | · | · | · | · | · | · | · | · | |
| P / Tangible Book | 0.6 | · | · | · | · | · | · | · | · | · | · | · | |
| P / Cash Flow | -3.0 | -7.5 | · | · | · | · | · | · | · | · | · | · | |
| P / FCF | -3.0 | -7.5 | · | · | · | · | · | · | · | · | · | · | |
| EV / EBITDA | -0.1 | -7.5 | · | · | · | · | · | · | · | · | · | · | |
| EV / FCF | -1.9 | -7.4 | · | · | · | · | · | · | · | · | · | · | |
| EV / Revenue | 147.8 | 958.2 | · | · | · | · | · | · | · | · | · | · |
Income Statement 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 | $3M | $35.3K | $8.7K | $3.6K | $2.7K | $110.3K | $8.8K | $3.9K | $67.3K | $4.9K | $221.1K | $676.6K | $490.1K | $239.9K | $363.5K | $455.8K | |
| Cost of Revenue | $7M | $3M | · | $8.4K | $3M | $2M | $30.8K | $11.2K | $13.9K | $22.4K | $231.4K | $97.9K | $159.8K | $120.1K | $153.4K | $108.2K | |
| Gross Profit | · | · | · | $-4.7K | $-15.5K | $65.2K | · | $-7.3K | $53.4K | $-17.6K | $-10.4K | $578.8K | $330.3K | $119.8K | $210.0K | $347.7K | |
| R&D Expense | · | · | · | · | · | · | · | · | · | · | $33.5K | $20.7K | $29.4K | $38.8K | $203.6K | $15.2K | |
| SG&A Expense | $3M | $3M | $20M | $3M | $2M | $2M | $2M | $2M | $2M | $2M | $995.8K | $2M | $3M | $2M | $3M | $3M | |
| Operating Expenses | $7M | $3M | $20M | $3M | $3M | $2M | $2M | $2M | $3M | $4M | $2M | $3M | $4M | $4M | · | · | |
| Operating Income | $-17M | $-8M | $-173M | $-3M | $-3M | $-2M | $-2M | $-2M | $-2M | $-4M | $-2M | $-3M | $-4M | $-3M | $-8M | $-4M | |
| Income Tax | · | · | · | · | · | · | · | · | · | · | $0 | $0 | $0 | $0 | $0 | $0 | |
| Net Income | $-17M | $-8M | $-151M | $-78M | $-2M | $-2M | $-2M | $-3M | $-3M | $-4M | $-3M | $-3M | $-4M | $-4M | $-8M | $-4M | |
| EPS (Basic) | $-0.87 | $-0.36 | $94.45 | $-107.25 | $-0.23 | $-5.12 | $-25.85 | $-7.26 | $-0.68 | $-1.04 | $-0.86 | $-0.78 | $-0.98 | $-0.86 | $-2.03 | $-1.04 | |
| EPS (Diluted) | · | · | · | · | · | · | · | · | · | · | · | · | · | · | · | $-0.05 | |
| Shares (Basic) | 19,685,811 | 21,184,617 | 444,658 | 723,998 | 9,108,984 | 476,835 | -8,790,464 | 426,423 | 4,664,771 | 4,062,853 | -7,981,119 | 4,031,356 | 3,996,512 | 3,968,099 | -7,114,655 | 3,919,203 | |
| Shares (Diluted) | 19,685,811 | 21,184,617 | 444,658 | 723,998 | 9,108,984 | 476,835 | -8,790,464 | 426,423 | 4,664,771 | 4,062,853 | -7,981,119 | 4,031,356 | 3,996,512 | 3,968,099 | -7,114,655 | 3,919,203 | |
| EBITDA | $-17M | $-8M | · | $-3M | $-3M | $-2M | · | $-2M | $-3M | $-4M | · | $-3M | $-4M | $-3M | · | $-4M |
Balance Sheet 27
| 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 | $22M | $7M | $11M | $181.7K | $506.1K | $3M | $611.8K | $3M | $5M | $5M | $9M | $12M | $15M | $19M | $22M | $25M | |
| Receivables | $3M | $659.3K | $32.1K | $26.0K | $23.0K | $59.8K | $34.2K | $463.8K | $387.0K | $509.4K | $277.6K | $544.8K | $430.8K | $282.8K | $331.2K | $324.7K | |
| Inventory | · | · | · | $38.0K | $42.7K | $45.8K | · | $504.4K | $568.2K | $441.7K | $480.8K | $440.0K | $393.7K | $380.3K | $430.5K | $493.7K | |
| Prepaid Expense | $873.4K | $338.0K | $280.9K | $843.9K | $603.9K | $195.2K | $318.5K | $442.5K | $597.7K | $412.9K | $512.1K | $620.7K | $381.2K | $520.0K | $526.8K | $645.2K | |
| Current Assets | $56M | $38M | $43M | $1M | $1M | $3M | $2M | $5M | $7M | $7M | $10M | $14M | $16M | $20M | $23M | $27M | |
| PP&E (Net) | $17M | $216.9K | $223.1K | $253.2K | $284.7K | $316.1K | $347.6K | $402.9K | $910.2K | $1M | $491.2K | $1M | $2M | $2M | $2M | $2M | |
| PP&E (Gross) | $19M | $2M | $2M | $2M | $2M | $2M | $2M | $3M | $5M | $5M | $3M | $5M | $5M | $5M | $5M | $5M | |
| Accum. Depreciation | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $4M | $4M | $2M | $3M | $3M | $3M | $3M | $3M | |
| Goodwill | · | · | · | · | · | · | · | · | · | · | · | · | · | · | · | $0 | |
| Intangibles | · | · | · | $47.5K | $48.7K | $49.8K | · | $221.5K | $238.7K | $245.6K | $241.3K | $259.3K | $266.2K | $273.0K | $253.9K | $4M | |
| Other Non-current Assets | $146.6K | $147.7K | $148.9K | $98.5K | $98.5K | $98.5K | $149.4K | $102.5K | $121.1K | $124.1K | $105.5K | $124.1K | $174.1K | $174.1K | $75.6K | $75.6K | |
| Total Assets | $100M | $45M | $53M | $3M | $3M | $6M | $5M | $7M | $11M | $11M | $14M | $18M | $21M | $25M | $26M | $33M | |
| Accounts Payable | $2M | $1M | $2M | $3M | $1M | $1M | $1M | $1M | $2M | $2M | $1M | $1M | $1M | $1M | $943.5K | $917.3K | |
| Accrued Liabilities | $1M | $1M | $2M | $1M | $1M | $2M | $1M | $2M | $2M | $2M | $2M | $2M | $2M | $1M | $2M | $2M | |
| Short-term Debt | $413.6K | $27.2K | $108.0K | $187.4K | $265.5K | · | $0 | $195.8K | $276.9K | $38.0K | $150.4K | $260.2K | · | · | $0 | · | |
| Current Liabilities | $39M | $4M | $4M | $79M | $4M | $5M | $4M | $4M | $5M | $5M | $4M | $4M | $4M | $4M | $4M | $3M | |
| Capital Leases | $535.2K | $724.5K | $904.5K | $1M | $1M | $1M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $3M | $86.1K | $5.5K | |
| Other Non-current Liabilities | · | · | · | · | · | · | · | $10.0K | $13.7K | $3.5K | $5.5K | · | · | · | $0 | $99.8K | |
| Total Liabilities | $66M | $5M | $5M | $81M | $5M | $6M | $5M | $6M | $6M | $7M | $6M | $7M | $6M | $7M | $4M | $4M | |
| Long-term Debt | · | · | · | · | · | · | · | · | · | · | · | · | $0 | $0 | · | $0 | |
| Total Debt | $413.6K | $27.2K | · | $187.4K | $265.5K | · | · | $195.8K | $276.9K | $38.0K | · | $260.2K | · | · | · | · | |
| Common Stock | $113.8K | $55.4K | $40.8K | $7.7K | $96.0K | $89.3K | $4.4K | $66.7K | $57.1K | $40.6K | $40.6K | $40.3K | $40.1K | $39.7K | $39.4K | $784.1K | |
| Paid-in Capital | $472M | $461M | $461M | $185M | $183M | $183M | $180M | $180M | $179M | $176M | $176M | $176M | $176M | $176M | $176M | $175M | |
| Retained Earnings | $-438M | $-421M | $-414M | $-263M | $-185M | $-183M | $-180M | $-178M | $-175M | $-172M | $-168M | $-164M | $-161M | $-157M | $-154M | $-146M | |
| Stockholders' Equity | $34M | $40M | $48M | $-77M | $-2M | $-145.8K | $-202.6K | $2M | $4M | $4M | $8M | $12M | $15M | $19M | $22M | $30M | |
| Liabilities + Equity | $100M | $45M | $53M | $3M | $3M | $6M | $5M | $7M | $11M | $11M | $14M | $18M | $21M | $25M | $26M | $33M | |
| Shares Outstanding | 11,384,940 | 5,539,267 | 4,083,173 | 767,058 | 9,596,737 | 8,931,621 | 444,475 | 6,666,993 | 5,708,876 | 4,062,853 | 4,062,853 | 4,033,293 | 4,006,301 | 3,969,993 | 3,938,160 | 78,407,473 |
Cash Flow 13
| 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 | $26.2K | $28.4K | $31.2K | $32.6K | $32.6K | $32.6K | $32.7K | $-227.1K | $-95.4K | $33.9K | $37.9K | $-211.1K | $180.1K | $237.9K | $332.7K | $330.9K | |
| Stock-based Comp | $571.6K | $111.4K | $661.2K | $371.3K | $0 | $0 | $15 | $-149 | $70 | $558 | $1.2K | $-15.1K | $5.9K | $9.3K | $63.4K | $27.0K | |
| Amort. of Intangibles | · | · | · | $1.1K | $1.1K | $1.1K | · | $1.2K | $1.2K | $1.2K | $6.1K | $6.6K | $7.0K | $6.7K | $104.0K | $103.8K | |
| Other Non-cash | · | $4M | · | · | · | $1M | · | · | · | $639.5K | · | · | · | $-253.1K | · | · | |
| Operating Cash Flow | $21M | $-4M | $-4M | $-2M | $-3M | $-985.8K | $-2M | $-1M | $-2M | $-3M | $-3M | $-2M | $-4M | $-3M | $-3M | $-3M | |
| CapEx | $17M | $21.0K | $0 | $0 | $0 | $0 | $6.5K | $-6.5K | $0 | $3.0K | $-15.5K | $-242.7K | $255.4K | $24.4K | $58.0K | $128.3K | |
| Investing Cash Flow | · | · | · | · | · | · | · | · | $-6.5K | $-3.0K | · | $-3.9K | $-259.1K | $-46.6K | $-63.6K | $-143.7K | |
| Stock Issued | $11M | $14.2K | $51M | $1M | $586.0K | $3M | $0 | $1M | $4M | $0 | $0 | $0 | $0 | $0 | · | · | |
| Stock Repurchased | · | · | · | · | · | · | · | · | · | · | $1.5K | · | · | · | $23.6K | · | |
| Net Stock Activity | · | $14.2K | · | · | · | $3M | · | · | · | · | · | · | · | $0 | · | · | |
| Financing Cash Flow | · | · | · | · | · | · | · | · | $3M | $-112.4K | · | $260.2K | $0 | $0 | $-23.6K | $-4.0K | |
| Net Change in Cash | $15M | $-4M | $11M | $-324.4K | $-3M | $2M | $-2M | $-2M | $134.5K | $-4M | $-3M | $-3M | $-4M | $-3M | $-3M | $-3M | |
| Free Cash Flow | · | $-4M | · | · | · | $-985.8K | · | · | · | $-3M | · | · | · | $-3M | · | · |
Profitability 6
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | · | · | · | -131.0% | -579.4% | 59.1% | · | 43.0% | 45.1% | 55.3% | · | 85.0% | 67.4% | 49.9% | · | 76.3% | |
| Operating Margin | -539.0% | -21887.5% | · | -90654.1% | -99174.8% | -2073.3% | · | -669.4% | -1144.2% | -1009.6% | · | -441.1% | -807.8% | -1444.4% | · | -906.2% | |
| Net Margin | -535.2% | -21831.6% | · | -2146264.3% | -77198.4% | -2214.5% | · | -895.2% | -1141.4% | -1005.3% | · | -442.4% | -800.5% | -1426.4% | · | -890.6% | |
| EBITDA Margin | -539.0% | -21807.0% | · | -90654.1% | -99174.8% | -2043.7% | · | -669.4% | -1144.2% | -970.9% | · | -441.1% | -807.8% | -1345.2% | · | -906.2% | |
| ROA | -33.1% | -30.2% | · | -1460.2% | -29.5% | -29.7% | · | -24.1% | -20.2% | -23.7% | · | -12.3% | -13.7% | -10.5% | · | -9.6% | |
| ROE | -106.2% | -38.4% | · | 205.8% | -169.7% | -125.0% | · | -45.5% | -33.8% | -37.3% | · | -15.3% | -16.3% | -12.3% | · | -10.5% |
Liquidity & Solvency 3
| 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 | 1.4 | 8.9 | · | 0.0 | 0.3 | 0.8 | · | 1.2 | 1.5 | 1.5 | · | 3.2 | 4.2 | 5.1 | · | 7.7 | |
| Quick Ratio | 0.7 | 1.8 | · | 0.0 | 0.1 | 0.7 | · | 0.9 | 1.2 | 1.3 | · | 3.0 | 4.0 | 4.8 | · | 7.4 | |
| Debt / Equity | 0.0 | 0.0 | · | -0.0 | -0.2 | · | · | 0.1 | 0.1 | 0.0 | · | 0.0 | · | · | · | · |
Efficiency 3
| 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 | 0.1 | 0.0 | · | 0.0 | 0.0 | 0.0 | · | 0.0 | 0.0 | 0.0 | · | 0.0 | 0.0 | 0.0 | · | 0.0 | |
| Inventory Turnover | · | · | · | 0.0 | 0.1 | 0.2 | · | 0.4 | 0.3 | 0.5 | · | 0.2 | 0.4 | 0.3 | · | 0.2 | |
| Receivables Turnover | 1.9 | 0.1 | · | 0.0 | 0.0 | 0.4 | · | 0.7 | 0.7 | 1.1 | · | 1.6 | 1.3 | 0.9 | · | 1.5 |
Valuation (TTM) 12
| 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 | $3M | $151.9K | · | $120.5K | $184.2K | $186.3K | · | $752.6K | $1M | $1M | · | $2M | $2M | $1M | · | $1M | |
| Net Income TTM | $-105M | $-90M | · | $-85M | $-11M | $-13M | · | $-14M | $-14M | $-16M | · | $-15M | $-23M | $-22M | · | $-23M | |
| Market Cap | $86M | $9M | · | $11M | $119M | $204M | · | $79M | $89M | $155M | · | · | · | · | · | · | |
| Enterprise Value | $65M | $2M | · | $11M | $119M | · | · | $76M | $84M | $150M | · | · | · | · | · | · | |
| P/S | 26.5 | 59.1 | · | 90.5 | 648.8 | 1092.9 | · | 104.7 | 71.9 | 110.1 | · | · | · | · | · | · | |
| P/B | 2.5 | 0.2 | · | -0.1 | -72.3 | -1396.8 | · | 40.1 | 21.8 | 38.3 | · | · | · | · | · | · | |
| P / Tangible Book | 2.5 | 0.2 | · | · | · | · | · | 45.1 | 23.1 | 40.8 | · | · | · | · | · | · | |
| P / Cash Flow | · | -2.4 | · | · | · | -206.6 | · | · | · | -45.5 | · | · | · | · | · | · | |
| P / FCF | · | -2.4 | · | · | · | -206.6 | · | · | · | -45.5 | · | · | · | · | · | · | |
| EV / EBITDA | -3.7 | -0.3 | · | -3.3 | -44.8 | · | · | -32.8 | -26.3 | -36.9 | · | · | · | · | · | · | |
| EV / FCF | · | -0.6 | · | · | · | · | · | · | · | -43.9 | · | · | · | · | · | · | |
| EV / Revenue | 19.9 | 13.7 | · | 90.6 | 647.5 | · | · | 100.9 | 67.8 | 106.4 | · | · | · | · | · | · |
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 | 2022-03-31 | |
|---|---|---|---|---|---|
| Revenue | $125.3K | $84.8K | $2M | $2M | — |
| Gross Margin % | — | 49.1% | 64.3% | 66.5% | — |
| Operating Margin % | -144404.5% | -673.7% | -791.2% | -1729.3% | — |
| Net Income | $-233M | $-13M | $-14M | $-26M | — |
Balance Sheet
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2022-03-31 | |
|---|---|---|---|---|---|
| Debt / Equity | 0.0 | 0.0 | 0.0 | — | — |
| Current Ratio | 10.0 | 0.6 | 2.6 | 6.0 | — |
| Quick Ratio | 2.5 | 0.4 | 2.3 | 5.8 | — |
Cash Flow
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2022-03-31 | |
|---|---|---|---|---|---|
| Free Cash Flow | $-10M | $-11M | $-13M | $-13M | — |
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Institutional owners (13F) 28 filers · $3.3M 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 |
|---|---|---|---|---|
| 18 (+15 vs prior Q) | 2 (-4 vs prior Q) | 3 (-1 vs prior Q) | 4 (+3 vs prior Q) | +121K |
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 |
|---|---|---|---|---|
| JANE STREET GROUP, LLC | $1,037,247 | 136,840 | 31.55% | Shares |
| Diametric Capital, LP | $603,633 | 79,635 | 18.36% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $435,297 | 57,427 | 13.24% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $292,147 | 38,541 | 8.89% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $177,054 | 23,358 | 5.39% | Shares |
| STATE STREET CORP | $163,144 | 21,523 | 4.96% | Shares |
| XTX Topco Ltd | $148,371 | 19,574 | 4.51% | Shares |
| CITADEL ADVISORS LLC | $102,792 | 13,561 | 3.13% | Shares |
| Alpine Global Management, LLC | $81,409 | 10,740 | 2.48% | Shares |
| CITIGROUP INC | $78,673 | 10,379 | 2.39% | Shares |
| BANK OF MONTREAL /CAN/ | $75,800 | 10,000 | 2.31% | Shares |
| Persistent Asset Partners Ltd | $29,524 | 3,895 | 0.90% | Shares |
| UBS Group AG | $11,582 | 1,528 | 0.35% | Shares |
| BlackRock, Inc. | $9,141 | 1,206 | 0.28% | Shares |
| WELLS FARGO & COMPANY/MN | $8,338 | 1,100 | 0.25% | Shares |
| Tower Research Capital LLC (TRC) | $7,891 | 1,041 | 0.24% | Shares |
| BNP PARIBAS FINANCIAL MARKETS | $6,026 | 795 | 0.18% | Shares |
| Carnegie Mellon University | $5,238 | 691 | 0.16% | Shares |
| FMR LLC | $5,209 | 687 | 0.16% | Shares |
| BARCLAYS PLC | $4,222 | 557 | 0.13% | Shares |
| WOLFF WIESE MAGANA LLC | $1,895 | 250 | 0.06% | Shares |
| Vanguard Global Advisers, LLC | $728 | 96 | 0.02% | Shares |
| JONES FINANCIAL COMPANIES LLLP | $716 | 100 | 0.02% | Shares |
| VANGUARD GROUP INC | $686 | 96 | 0.02% | Shares |
| SBI Securities Co., Ltd. | $174 | 23 | 0.01% | Shares |
| OSAIC HOLDINGS, INC. | $166 | 22 | 0.01% | Shares |
| Caitong International Asset Management Co., Ltd | $23 | 3 | 0.00% | Shares |
| MERCER GLOBAL ADVISORS INC /ADV | $15 | 2 | 0.00% | Shares |
Company insiders 34 insiders · 9 officers · 23 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Christopher Miglino | CEO and Director | Feb. 9, 2026 A | — | 0 | 0 | $0 |
| Raymond F Vennare | Chief Executive Officer | Feb. 5, 2026 F | 19,677 | 0 | 0 | $0 |
| Melville J Engle | CEO and Chairman | Jan. 4, 2022 A | 43,893 | 0 | 0 | $0 |
| Joshua Blacher | Co-Chief Financial Officer | May 14, 2026 A | 15,856 | 0 | 0 | $0 |
| Jeremy Reese Yaukey-Witter | Co-Chief Financial Officer | April 16, 2026 A | — | 0 | 0 | $0 |
| Robert L Myers | CHIEF FINANCIAL OFFICER | Sept. 25, 2023 F | 4,720 | 0 | 0 | $0 |
| Okamoto Kyle Robert | President | April 1, 2026 A | — | 0 | 0 | $0 |
| David Orrin Johnson | Chief Operating Officer | June 22, 2017 A | 17,302 | 0 | 0 | $0 |
| Alan G Shuler | Secretary | Aug. 24, 2009 A | 58,610 | 0 | 0 | $0 |
| Theodore Zhu | Director | April 20, 2026 A | 5,144 | 0 | 0 | $0 |
| Clair Gregory St. SR | Director | April 20, 2026 A | 15,146 | 0 | 0 | $0 |
| Daniel E Handley | Director | April 20, 2026 A | 11,040 | 0 | 0 | $0 |
| Matthew Hawryluk | Director | April 20, 2026 A | 11,727 | 0 | 0 | $0 |
| Charles Lee Nuzum Sr | Director | April 20, 2026 A | 20,388 | 0 | 0 | $0 |
| Veena Rao | Director | March 6, 2026 A | 9,177 | 0 | 0 | $0 |
| Shawn Matthews | Director | March 6, 2026 A | 1,166 | 0 | 0 | $0 |
| Nancy Chung-Welch | Director | Sept. 9, 2025 A | 83,993 | 0 | 0 | $0 |
| Christina Lee Jenkins MD | Director | Jan. 4, 2022 A | 34,145 | 0 | 0 | $0 |
| Richard L Gabriel | Director | April 1, 2021 A | 17,029 | 0 | 0 | $0 |
| Andrew P. Reding | Director | June 30, 2020 A | 4,076 | 0 | 0 | $0 |
| Gerald J Vardzel Jr | Director | April 4, 2020 C | 154,415 | 0 | 0 | $0 |
| Pamela S Prior | Director | March 31, 2020 A | — | 0 | 0 | $0 |
| Thomas J. Mcgoldrick | Director | Dec. 31, 2019 A | — | 0 | 0 | $0 |
| Timothy A Krochuk | Director | Sept. 30, 2019 A | — | 0 | 0 | $0 |
| MANCUSO FRANK G /FA/ | Director | Sept. 30, 2015 A | 350,000 | 0 | 0 | $0 |
| Ricardo Koenigsberger | Director | March 31, 2015 A | — | 0 | 0 | $0 |
| Arnon I Dreyfuss | Director | Sept. 30, 2014 A | 2,108,572 | 0 | 0 | $0 |
| Chad A. Ruwe | Director | May 11, 2012 J | 2,844,964 | 0 | 0 | $0 |
| James E Dauwalter | Director | Nov. 16, 2010 A | 985,572 | 0 | 0 | $0 |
| SOK Partners LLC | 10% owner | Aug. 31, 2015 J | 71,083,929 | 0 | 0 | $0 |
| Samuel Herschkowitz | 10% owner | Nov. 7, 2014 P | 630,322 | 0 | 0 | $0 |
| Caron Partners LP | 10% owner | Dec. 21, 2012 G | 4,695,010 | 0 | 0 | $0 |
| Carl I. Schwartz | — | Feb. 24, 2021 A | 1,711,742 | 0 | 0 | $0 |
| Joshua Kornberg | — | April 6, 2016 C | 18,073 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
Activists & 5%+ owners 9 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 |
|---|---|---|---|---|---|
| Okamoto Kyle Robert, Okalina Ventures LLC | April 16, 2026 | 4.40% | Initial filing | — | SEC |
| Carl I. Schwartz, DDS ×3 filings | May 1, 2020 | — | Initial filing | — | SEC |
| R. Douglas Armstrong, Dawson James Securities, Inc., Auxol Capital LLC ×3 filings | April 1, 2020 | — | Initial filing | — | SEC |
| Robert D. Keyser, Jr., Dawson James Securities, Inc., Auxol Capital LLC ×3 filings | March 26, 2020 | — | Initial filing | — | SEC |
| SAMUEL HERSCHKOWITZ, JOSHUA KORNBERG, SOK PARTNERS, LLC, ATLANTIC PARTNERS ALLIANCE LLC ×19 filings | Sept. 16, 2015 | — | Initial filing | Passive investment | SEC |
| IRS Identification Nos. of Above Persons (Entities Only) Nimish Patel (“Patel”), IRS Identification Nos. of Above Persons (Entities Only) Erick Richardson (“Richardson”) | July 13, 2012 | — | Initial filing | — | SEC |
| Bellejule Partners, LP (2), Caron Partners, LP (2), UBS FBO Ronald Levine IRA (2), Ronald Levine IRA (2), Carole Levine IRA (2) ×2 filings | May 1, 2012 | — | Initial filing | — | SEC |
| Undisclosed reporting person | Oct. 26, 2011 | — | Initial filing | Passive investment | SEC |
| Undisclosed reporting person | July 20, 2011 | — | 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 2 ETFs
Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.