ALDX Aldeyra Therapeutics, Inc. - Common Stock
$1.56
Price · Aug 19, 2026
Fundamentals as of Aug 6, 2026
52W Range
$1–$6
10% of range
Analyst Rating
STRONG BUY
12 analysts
Price Target
$7
+323% upside
P/E (TTM)
-2.8
ROE
-68.0%
Net Profit Margin
—
ALDX Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$1.56
Market Cap
$94M
P/E (TTM)
-2.8
EPS (TTM)
$-0.56
Revenue (TTM)
—
Div Yield
—
ROE
-68.0%
Debt/Equity
0.3
52W Range
$1 – $6
ALDX 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
—
EPS
$-0.56
2021-12-31
→
2025-12-31
Free Cash Flow
—
2016-12-31
→
2023-12-31
Margins
—
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Metric
5Y trend
ALDX
Peer Median
P/E (TTM)
-2.8
0.8
P/B
2.1
5.5
EV / EBITDA
-1.1
—
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Metric
5Y trend
ALDX
Peer Median
ROA
-38.3%
-49.4%
ROE
-68.0%
-59.3%
Financial Health Debt, liquidity, solvency — balance sheet strength
Metric
5Y trend
ALDX
Peer Median
Debt / Equity
0.3
—
Current Ratio
2.6
4.9
Quick Ratio
2.5
—
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Metric
5Y trend
ALDX
Peer Median
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
Metric
5Y trend
ALDX
Peer Median
ALDX Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
BUY
12 analysts
- Strong Buy 5 41.7%
- Buy 5 41.7%
- Hold 2 16.7%
- Sell 0 0.0%
- Strong Sell 0 0.0%
12-Month Price Target
5 analysts · 2026-08-13
Median
$5.00
Mean
$6.60
← Below all targets
$1.56
Low
$2.00
High
$13.00
Median target
$5.00
+220.3%
Mean target
$6.60
+322.8%
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
0.06%
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| June 30, 2026 | $-0.09 | $-0.10 | 0.01% |
| March 31, 2026 | $-0.06 | $-0.10 | 0.04% |
| Dec. 31, 2025 | $-0.10 | $-0.17 | 0.07% |
| Sept. 30, 2025 | $-0.13 | $-0.25 | 0.12% |
| June 30, 2025 | $-0.13 | $-0.25 | 0.12% |
| March 31, 2025 | $-0.17 | $-0.23 | 0.06% |
| Dec. 31, 2024 | $-0.27 | $-0.25 | -0.02% |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| ALDX | $312M | -9.2 | — | — | -68.0% | — |
| BMEA | $90M | -1.1 | -67.1% | -3326.0% | -216.6% | — |
| FBIO | — | — | — | — | — | — |
| KLRS | $193M | -3.0 | — | — | -65.8% | — |
| ATRA | $132M | 7.0 | -6.3% | 27.1% | -88.9% | — |
| ACRV | $76M | -1.2 | — | — | -61.0% | — |
| RLYB | $4M | -0.4 | 34.9% | -1046.4% | -17.3% | — |
| ICCC | — | -51.2 | 4.3% | — | — | — |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement 14
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| R&D Expense | $26M | $48M | $29M | $47M | $45M | $25M | $44M | $30M | $16M | $13M | $8M | $4M | |
| SG&A Expense | $10M | $12M | $13M | $15M | $11M | $10M | $12M | $10M | $6M | $6M | $4M | $4M | |
| Operating Income | $-35M | $-60M | $-43M | $-63M | $-56M | $-36M | $-63M | $-40M | $-22M | $-19M | $-12M | $-7M | |
| Interest Expense | · | · | $2M | $2M | $2M | $2M | $603.8K | $146.8K | $113.5K | $105.5K | $112.3K | $244.2K | |
| Interest Income | $3M | $6M | $7M | $2M | $185.4K | $292.2K | $2M | $952.7K | $261.3K | $102.0K | $11.1K | $3 | |
| Other Non-op | $1M | $4M | $5M | $655.4K | $-2M | $-2M | $937.5K | $805.9K | $147.8K | $-3.5K | $-101.2K | $2M | |
| Pretax Income | · | · | · | · | $-58M | $-38M | $-62M | $-39M | · | · | · | · | |
| Income Tax | $0 | $1.0K | $0 | $0 | $0 | $-479.3K | $-1M | $0 | $0 | $0 | $0 | $0 | |
| Net Income | $-34M | $-56M | $-38M | $-62M | $-58M | $-38M | $-61M | $-39M | $-22M | $-19M | $-12M | $-5M | |
| EPS (Basic) | $-0.56 | $-0.94 | $-0.64 | $-1.06 | $-1.07 | · | · | · | · | · | $-1.40 | $-2.51 | |
| EPS (Diluted) | $-0.56 | $-0.94 | $-0.64 | $-1.06 | $-1.07 | · | · | · | · | · | $-1.40 | $-3.09 | |
| Shares (Basic) | 60,056,557 | 59,484,794 | 58,943,205 | 58,405,897 | 54,042,103 | · | · | · | · | · | 8,633,897 | 3,818,157 | |
| Shares (Diluted) | 60,056,557 | 59,484,794 | 58,943,205 | 58,405,897 | 54,042,103 | · | · | · | · | · | 8,633,897 | 3,850,612 | |
| EBITDA | $-35M | · | $-43M | · | $-56M | $-36M | $-63M | $-40M | $-22M | $-19M | $-12M | $-7M |
Balance Sheet 21
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $70M | $55M | · | $144M | $230M | $78M | $44M | $47M | $20M | $12M | $15M | $9M | |
| Short-term Investments | · | $47M | · | $30M | · | · | · | $46M | $23M | $13M | $13M | · | |
| Prepaid Expense | $2M | $3M | $5M | $7M | $3M | $5M | $2M | $1M | $1M | $218.7K | $497.6K | $232.6K | |
| Other Current Assets | · | $0 | $0 | $3M | $28.8K | · | · | · | · | · | · | · | |
| Current Assets | $72M | $104M | $148M | $181M | $233M | $83M | $75M | $95M | $44M | $25M | $28M | $9M | |
| PP&E (Net) | $0 | $0 | $5.8K | $19.3K | $32.5K | $59.9K | $148.4K | $235.2K | $43.3K | $56.4K | $80.3K | $13.0K | |
| Total Assets | $72M | $105M | $148M | $181M | $233M | $83M | $76M | $95M | $44M | $25M | $28M | $9M | |
| Accounts Payable | $158.5K | $180.5K | $1M | $133.6K | $1M | $381.6K | $808.3K | $3M | $1M | $275.4K | $851.2K | $341.3K | |
| Accrued Liabilities | $6M | $12M | $6M | $14M | $11M | $8M | $12M | $5M | $2M | $2M | $1M | $908.7K | |
| Current Liabilities | $28M | $19M | $22M | $15M | $12M | $12M | $13M | $8M | $3M | $2M | $2M | $1M | |
| Capital Leases | $0 | $0 | $271.6K | $0 | $125.2K | $0 | $0 | · | · | · | · | · | |
| Total Liabilities | $28M | $34M | $29M | $30M | $27M | $24M | $27M | $8M | $5M | $4M | $3M | $3M | |
| Long-term Debt | $15M | $15M | $15M | $16M | $16M | $16M | $16M | $16M | $1M | $1M | $1M | $1M | |
| Total Debt | $15M | · | $15M | · | $16M | $11M | $15M | · | $1M | $1M | $1M | $1M | |
| Common Stock | $60.2K | $59.6K | $59.2K | $58.6K | $58.1K | $38.7K | $28.7K | $26.2K | $19.1K | $12.6K | $9.7K | $5.6K | |
| Paid-in Capital | · | · | · | · | · | · | · | · | · | · | · | $53M | |
| Retained Earnings | $-484M | $-450M | $-394M | $-357M | $-295M | $-237M | $-199M | $-139M | $-100M | $-77M | $-59M | $-47M | |
| AOCI | $0 | $37.4K | $0 | $-103.9K | $0 | $0 | $5.9K | $-9.2K | $-17.8K | $129 | $-8.4K | · | |
| Stockholders' Equity | $44M | $71M | $120M | $151M | $206M | $60M | $48M | $87M | $40M | $22M | $25M | $6M | |
| Liabilities + Equity | $72M | $105M | $148M | $181M | $233M | $83M | $76M | $95M | $44M | $25M | $28M | $9M | |
| Shares Outstanding | 60,162,773 | 59,648,278 | 59,195,951 | 58,560,078 | 58,081,215 | 38,667,491 | 28,656,832 | 26,244,435 | 19,137,639 | 12,576,325 | 9,712,521 | 5,565,415 |
Cash Flow 12
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock-based Comp | $6M | $8M | $6M | $8M | $7M | $7M | $8M | $4M | $3M | $3M | $2M | $2M | |
| Operating Cash Flow | $-33M | $-43M | $-30M | $-57M | $-43M | $-37M | $-45M | $-30M | $-19M | $-15M | $-9M | $-5M | |
| CapEx | · | · | $0 | $16.3K | $7.8K | · | $9.5K | $263.0K | $24.8K | $11.8K | $86.1K | $14.1K | |
| Investing Cash Flow | $48M | $-45M | $30M | $-30M | $-7.8K | $29M | $18M | $-23M | $-10M | · | · | · | |
| Debt Issued | · | · | · | · | · | · | $14M | · | · | · | · | · | |
| Net Debt Issued | · | · | · | · | · | · | $14M | · | · | · | · | · | |
| Stock Issued | · | · | · | $0 | $190M | $41M | $8M | $82M | $37M | $13M | $29M | $10M | |
| Net Stock Activity | · | · | · | · | $190M | $41M | $8M | $82M | $37M | · | $29M | $10M | |
| Financing Cash Flow | $1M | $-171.4K | $-1M | $1M | $194M | $42M | $24M | $81M | $37M | · | · | · | |
| Net Change in Cash | $16M | $-88M | $-2M | $-85M | $152M | $33M | $-3M | $27M | $8M | $-3M | $6M | $5M | |
| Free Cash Flow | · | · | $-30M | · | $-43M | · | $-45M | $-30M | $-19M | $-15M | $-9M | $-5M | |
| Levered FCF | · | · | · | · | $-44M | · | $-46M | · | · | · | · | · |
Profitability 3
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROA | -38.3% | · | -22.8% | · | -36.5% | -47.3% | -71.3% | -55.9% | -64.4% | -70.0% | -65.4% | -82.8% | |
| ROE | -68.0% | · | -30.9% | · | -27.2% | -58.4% | -122.9% | -67.5% | -73.0% | -80.4% | -77.6% | 30.6% | |
| ROIC | · | · | · | · | -25.4% | -50.7% | -98.6% | · | · | · | · | · |
Liquidity & Solvency 5
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.6 | · | 6.6 | · | 19.8 | 6.7 | 5.8 | 11.2 | 13.1 | 10.9 | 13.3 | 6.6 | |
| Quick Ratio | 2.5 | · | · | · | 19.5 | 6.3 | 3.4 | 11.0 | 12.8 | 10.8 | 13.0 | 6.4 | |
| Debt / Equity | 0.3 | · | 0.1 | · | 0.1 | 0.2 | 0.3 | · | 0.0 | 0.1 | 0.1 | 0.2 | |
| LT Debt / Equity | 0.0 | · | 0.0 | · | 0.1 | 0.2 | 0.3 | · | 0.0 | 0.1 | 0.0 | 0.2 | |
| Interest Coverage | · | · | -20.7 | · | -32.3 | -19.1 | -104.5 | -270.4 | -198.2 | -177.2 | -106.8 | -29.8 |
Valuation (TTM) 11
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Income TTM | $-34M | $-56M | $-38M | $-62M | $-58M | $-38M | $-61M | $-39M | $-22M | $-19M | $-12M | $-5M | |
| Market Cap | $312M | · | $208M | · | $232M | $265M | $166M | $218M | $130M | $67M | $66M | · | |
| Enterprise Value | $257M | · | · | · | $18M | $199M | $137M | · | $89M | $44M | $40M | · | |
| P/E | -9.2 | -5.3 | -5.5 | -6.6 | -3.7 | -4.7 | -4.0 | -5.7 | -4.7 | -3.7 | -4.8 | -2.3 | |
| P/B | 7.0 | · | 1.7 | · | 1.1 | 4.5 | 3.5 | 2.5 | 3.3 | 3.1 | 2.6 | · | |
| P / Tangible Book | 7.0 | 4.2 | 1.7 | 2.7 | 1.1 | 4.5 | · | · | · | · | · | · | |
| P / Cash Flow | -9.3 | · | -6.9 | · | -5.5 | -7.1 | -3.7 | -7.3 | -6.8 | -4.4 | -7.1 | · | |
| P / FCF | · | · | -6.9 | · | -5.5 | · | -3.7 | -7.2 | -6.8 | -4.4 | -7.0 | · | |
| EV / EBITDA | -7.3 | · | · | · | -0.3 | -5.5 | -2.2 | · | -3.9 | -2.3 | -3.3 | · | |
| EV / FCF | · | · | · | · | -0.4 | · | -3.0 | · | -4.6 | -2.9 | -4.2 | · | |
| Earnings Yield | -10.8% | -18.8% | -18.2% | -15.2% | -26.8% | -21.1% | -25.0% | -17.5% | -21.3% | -27.1% | -20.6% | -42.8% |
Income Statement 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| R&D Expense | $3M | $2M | $4M | $5M | $9M | $7M | $15M | $12M | $15M | $6M | $4M | $7M | $7M | $11M | $9M | $12M | |
| SG&A Expense | $2M | $1M | $2M | $3M | $2M | $3M | $2M | $4M | $3M | $3M | $2M | $3M | $3M | $6M | $5M | $3M | |
| Operating Income | $-6M | $-4M | $-7M | $-8M | $-10M | $-10M | $-17M | $-16M | $-18M | $-9M | $-6M | $-10M | $-10M | $-17M | $-14M | $-15M | |
| Interest Expense | · | · | · | · | · | · | · | · | $477.6K | $498.5K | · | $538.7K | $527.1K | $491.3K | $460.8K | $416.9K | |
| Interest Income | $400.3K | $563.0K | $681.6K | $788.7K | $872.0K | $981.5K | $1M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $1M | $648.2K | |
| Other Non-op | $400.2K | $94.3K | $206.4K | $312.8K | $401.4K | $498.0K | $769.0K | $1M | $1M | $1M | $1M | $1M | $1M | $1M | $794.6K | $231.3K | |
| Net Income | $-5M | $-3M | $-6M | $-8M | $-10M | $-10M | $-16M | $-15M | $-17M | $-8M | $-5M | $-8M | $-9M | $-16M | $-13M | $-15M | |
| EPS (Basic) | $-0.09 | $-0.06 | $-0.10 | $-0.13 | $-0.16 | $-0.17 | $-0.27 | $-0.25 | $-0.28 | $-0.14 | $-0.08 | $-0.14 | $-0.15 | $-0.27 | $-0.22 | $-0.25 | |
| EPS (Diluted) | $-0.09 | $-0.06 | $-0.10 | $-0.13 | $-0.16 | $-0.17 | $-0.27 | $-0.25 | $-0.28 | $-0.14 | $-0.08 | $-0.14 | $-0.15 | $-0.27 | $-0.22 | $-0.25 | |
| Shares (Basic) | 60,321,068 | 60,319,289 | -120,003,100 | 60,126,850 | 60,045,530 | 59,887,277 | -118,874,297 | 59,530,113 | 59,414,489 | 59,414,489 | -117,630,507 | 58,990,189 | 58,791,920 | 58,791,603 | -116,651,318 | 58,457,863 | |
| Shares (Diluted) | 60,321,068 | 60,319,289 | -120,003,100 | 60,126,850 | 60,045,530 | 59,887,277 | -118,874,297 | 59,530,113 | 59,414,489 | 59,414,489 | -117,630,507 | 58,990,189 | 58,791,920 | 58,791,603 | -116,651,318 | 58,457,863 | |
| EBITDA | $-6M | $-4M | · | $-8M | $-10M | $-10M | · | $-16M | $-18M | $-9M | · | $-10M | $-10M | $-17M | · | $-15M |
Balance Sheet 20
| 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 | · | · | $70M | $59M | $41M | $50M | $55M | $68M | $71M | $102M | · | · | · | · | $144M | $129M | |
| Short-term Investments | · | · | · | $16M | $41M | $40M | $47M | $45M | $49M | $31M | · | · | · | · | $30M | $57M | |
| Prepaid Expense | $2M | $1M | $2M | $2M | $3M | $3M | $3M | $4M | $5M | $8M | $5M | $4M | $4M | $3M | $7M | $4M | |
| Other Current Assets | · | · | · | · | · | $755.5K | · | · | · | · | · | $0 | $0 | $23.7K | $3M | · | |
| Current Assets | $47M | $66M | $72M | $77M | $85M | $93M | $104M | $117M | $126M | $141M | $148M | $147M | $155M | $168M | $181M | $189M | |
| PP&E (Net) | $20.5K | · | · | · | · | · | · | $1.4K | $2.7K | $4.1K | $5.8K | $7.8K | $9.8K | $12.5K | $19.3K | $26.7K | |
| Total Assets | $48M | $66M | $72M | $78M | $85M | $93M | $105M | $117M | $126M | $141M | $148M | $147M | $156M | $168M | $181M | $190M | |
| Accounts Payable | $137.5K | $141.4K | $158.5K | $13.4K | $1M | $346.1K | $180.5K | $186.9K | $254.4K | $280.3K | $1M | $247.2K | $270.8K | $429.7K | $133.6K | $1M | |
| Accrued Liabilities | $3M | $3M | $6M | $7M | $7M | $8M | $12M | $10M | $6M | $6M | $6M | $8M | $9M | $14M | $14M | $10M | |
| Current Liabilities | $10M | $24M | $28M | $28M | $30M | $14M | $19M | $17M | $28M | $22M | $22M | $22M | $16M | $16M | $15M | $24M | |
| Capital Leases | $0 | $0 | $0 | $72.5K | $143.4K | $212.8K | · | $70.2K | $138.9K | $206.0K | $271.6K | · | · | · | $0 | $0 | |
| Total Liabilities | $10M | $24M | $28M | $29M | $30M | $30M | $34M | $32M | $28M | $28M | $29M | $24M | $26M | $31M | $30M | $27M | |
| Long-term Debt | · | $15M | $15M | $15M | $15M | $15M | $15M | $16M | $15M | $15M | $15M | $16M | $16M | $16M | $16M | · | |
| Total Debt | $0 | $15M | · | $15M | $15M | $15M | · | $15M | $15M | $15M | · | $16M | $16M | $16M | · | $3M | |
| Common Stock | $60.3K | $60.3K | $60.2K | $60.2K | $60.0K | $60.0K | $59.6K | $59.5K | $59.4K | $59.4K | $59.2K | $59.2K | $58.8K | $58.8K | $58.6K | $58.6K | |
| Retained Earnings | $-493M | $-487M | $-484M | $-477M | $-470M | $-460M | $-450M | $-434M | $-419M | $-402M | $-394M | $-390M | $-381M | $-372M | $-357M | $-344M | |
| AOCI | · | · | $0 | $815 | $-11.0K | $1.6K | $37.4K | $66.5K | $-9.7K | $-3.0K | $0 | $0 | $0 | $0 | $-103.9K | $-285.7K | |
| Stockholders' Equity | $38M | $42M | $44M | $49M | $55M | $64M | $71M | $85M | $98M | $113M | $120M | $123M | $130M | $137M | $151M | $162M | |
| Liabilities + Equity | $48M | $66M | $72M | $78M | $85M | $93M | $105M | $117M | $126M | $141M | $148M | $147M | $156M | $168M | $181M | $190M | |
| Shares Outstanding | 60,321,068 | 60,321,068 | 60,162,773 | 60,162,773 | 60,045,530 | 60,045,530 | 59,648,278 | 59,549,598 | 59,414,489 | 59,414,489 | 59,195,951 | 59,187,326 | 58,801,207 | 58,791,603 | 58,560,078 | 58,560,078 |
Cash Flow 8
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock-based Comp | $2M | $-987.6K | $1M | $3M | $196.6K | $2M | $1M | $3M | $2M | $2M | $-800.3K | $789.2K | $2M | $4M | $3M | $2M | |
| Operating Cash Flow | $-5M | $-5M | $-5M | $-7M | $-9M | $-12M | $-12M | $-8M | $-13M | $-10M | $500.4K | $-8M | $-13M | $-9M | $-11M | $-13M | |
| CapEx | · | · | · | · | · | · | · | · | · | · | · | $0 | $0 | $0 | $0 | $0 | |
| Investing Cash Flow | $-23.1K | $0 | $16M | $25M | $-554.1K | $7M | $-2M | $5M | $-18M | $-30M | $0 | $0 | $0 | $30M | $27M | $19M | |
| Stock Issued | · | · | · | · | · | · | · | · | · | · | · | · | · | · | · | $0 | |
| Financing Cash Flow | $-15M | $71.1K | $0 | $120.7K | $0 | $1M | $7.8K | $-197.4K | $0 | $18.2K | $-1M | $-315.8K | $5.3K | $52.6K | $0 | $1M | |
| Net Change in Cash | $-20M | $-5M | $11M | $18M | $-9M | $-4M | $-14M | $-3M | $-31M | $-40M | $-511.9K | $-8M | $-13M | $21M | $16M | $8M | |
| Free Cash Flow | · | · | · | · | · | · | · | · | · | · | · | · | · | $-9M | · | · |
Profitability 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROA | -8.2% | -4.3% | · | -7.9% | -9.3% | -8.5% | · | -11.4% | -12.0% | -5.2% | · | -4.9% | -5.0% | -8.0% | · | -6.7% | |
| ROE | -11.7% | -6.5% | · | -11.5% | -12.7% | -11.2% | · | -14.5% | -14.8% | -6.5% | · | -5.7% | -5.9% | -9.5% | · | -7.6% |
Liquidity & Solvency 5
| 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 | 4.9 | 2.7 | · | 2.7 | 2.9 | 6.5 | · | 6.8 | 4.6 | 6.5 | · | 6.8 | 10.0 | 10.5 | · | 7.8 | |
| Quick Ratio | · | · | · | 2.6 | 2.8 | 6.3 | · | 6.6 | 4.4 | 6.1 | · | · | · | · | · | 7.7 | |
| Debt / Equity | 0.0 | 0.4 | · | 0.3 | 0.3 | 0.2 | · | 0.2 | 0.2 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.0 | |
| LT Debt / Equity | · | 0.0 | · | 0.0 | 0.0 | 0.2 | · | 0.2 | 0.0 | 0.0 | · | 0.0 | 0.1 | 0.1 | · | 0.0 | |
| Interest Coverage | · | · | · | · | · | · | · | · | -37.7 | -18.8 | · | -17.7 | -19.6 | -34.2 | · | -35.5 |
Valuation (TTM) 10
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Income TTM | $-26M | $-31M | · | $-42M | $-52M | $-50M | · | $-48M | $-42M | $-41M | · | $-47M | $-57M | $-65M | · | $-65M | |
| Market Cap | $128M | $102M | · | $314M | $230M | $345M | · | $321M | $197M | $194M | · | $395M | $493M | $584M | · | $313M | |
| Enterprise Value | · | · | · | $254M | $163M | $270M | · | $224M | $92M | $76M | · | · | · | · | · | $131M | |
| P/E | -4.8 | -3.2 | · | -7.4 | -4.5 | -6.8 | · | -6.7 | -4.7 | -4.7 | · | -8.2 | -8.6 | -8.9 | · | -4.8 | |
| P/B | 3.4 | 2.4 | · | 6.4 | 4.2 | 5.4 | · | 3.8 | 2.0 | 1.7 | · | 3.2 | 3.8 | 4.3 | · | 1.9 | |
| P / Tangible Book | 3.4 | 2.4 | · | 6.4 | 4.2 | 5.4 | · | 3.8 | 2.0 | 1.7 | · | 3.2 | 3.8 | 4.3 | · | 1.9 | |
| P / Cash Flow | · | -19.9 | · | · | · | -27.7 | · | · | · | -19.5 | · | · | · | -61.8 | · | · | |
| P / FCF | · | · | · | · | · | · | · | · | · | · | · | · | · | -61.8 | · | · | |
| EV / EBITDA | · | · | · | -31.7 | -16.0 | -25.9 | · | -13.9 | -5.1 | -8.1 | · | · | · | · | · | -8.8 | |
| Earnings Yield | -20.7% | -30.8% | · | -13.6% | -22.4% | -14.6% | · | -15.0% | -21.4% | -21.4% | · | -12.1% | -11.6% | -11.2% | · | -20.8% |
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 | |
|---|---|---|---|---|---|
| Net Income | $-34M | $-56M | $-38M | $-62M | $-58M |
| Diluted EPS | $-0.56 | $-0.94 | $-0.64 | $-1.06 | $-1.07 |
Balance Sheet
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Debt / Equity | 0.3 | — | 0.1 | — | 0.1 |
| Current Ratio | 2.6 | — | 6.6 | — | 19.8 |
| Quick Ratio | 2.5 | — | — | — | 19.5 |
Cash Flow
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Free Cash Flow | — | — | $-30M | — | $-43M |
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Institutional owners (13F) 125 filers · $77.6M 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 |
|---|---|---|---|---|
| 23 (-1 vs prior Q) | 35 (+6 vs prior Q) | 35 (-17 vs prior Q) | 41 (+3 vs prior Q) | -81K |
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 |
|---|---|---|---|---|
| VANGUARD GROUP INC | $17,199,610 | 3,320,388 | 22.16% | Shares |
| Knoll Capital Management, LLC | $11,662,849 | 5,475,516 | 15.02% | Shares |
| KINGDON CAPITAL MANAGEMENT, L.L.C. | $5,649,431 | 2,652,315 | 7.28% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $5,030,625 | 2,361,796 | 6.48% | Shares |
| D. E. Shaw & Co., Inc. | $4,132,920 | 1,940,338 | 5.32% | Shares |
| 683 Capital Management, LLC | $3,088,500 | 1,450,000 | 3.98% | Shares |
| Qube Research & Technologies Ltd | $2,404,350 | 1,128,803 | 3.10% | Shares |
| ARDSLEY ADVISORY PARTNERS LP | $2,076,750 | 975,000 | 2.68% | Shares |
| RENAISSANCE TECHNOLOGIES LLC | $1,878,660 | 882,000 | 2.42% | Shares |
| JANE STREET GROUP, LLC | $1,836,073 | 862,006 | 2.37% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $1,693,058 | 794,863 | 2.18% | Shares |
| GOLDMAN SACHS GROUP INC | $1,465,572 | 688,062 | 1.89% | Shares |
| JACOBS LEVY EQUITY MANAGEMENT, INC | $1,377,769 | 646,840 | 1.77% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $1,063,639 | 499,361 | 1.37% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $1,046,660 | 491,122 | 1.35% | Shares |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | $897,109 | 421,178 | 1.16% | Shares |
| MILLENNIUM MANAGEMENT LLC | $767,546 | 360,350 | 0.99% | Shares |
| ARDSLEY ADVISORY PARTNERS LP | $639,000 | 300,000 | 0.82% | Call option |
| VANGUARD FIDUCIARY TRUST CO | $635,255 | 298,242 | 0.82% | Shares |
| TWO SIGMA ADVISERS, LP | $631,442 | 121,900 | 0.81% | Shares |
| XTX Topco Ltd | $542,675 | 254,777 | 0.70% | Shares |
| Cubist Systematic Strategies, LLC | $529,178 | 101,375 | 0.68% | Shares |
| WOODSTOCK CORP | $517,070 | 242,756 | 0.67% | Shares |
| STATE STREET CORP | $497,939 | 233,774 | 0.64% | Shares |
| UBS Group AG | $495,988 | 232,858 | 0.64% | Shares |
| MORGAN STANLEY | $490,692 | 230,372 | 0.63% | Shares |
| IEQ CAPITAL, LLC | $440,043 | 206,593 | 0.57% | Shares |
| CANTOR FITZGERALD, L. P. | $426,000 | 200,000 | 0.55% | Shares |
| MARSHALL WACE, LLP | $369,765 | 173,598 | 0.48% | Shares |
| Caption Management, LLC | $351,450 | 165,000 | 0.45% | Shares |
| CITADEL ADVISORS LLC | $348,468 | 163,600 | 0.45% | Call option |
| Invesco Ltd. | $339,820 | 159,540 | 0.44% | Shares |
| BNP PARIBAS FINANCIAL MARKETS | $334,938 | 157,248 | 0.43% | Shares |
| Palo Alto Investors LP | $331,660 | 155,709 | 0.43% | Shares |
| WELLS FARGO & COMPANY/MN | $329,907 | 154,886 | 0.42% | Shares |
| Point72 Asset Management, L.P. | $328,889 | 154,408 | 0.42% | Shares |
| Connor, Clark & Lunn Investment Management Ltd. | $328,642 | 154,292 | 0.42% | Shares |
| Man Group plc | $325,279 | 152,713 | 0.42% | Shares |
| Jain Global LLC | $280,099 | 131,502 | 0.36% | Shares |
| TWO SIGMA INVESTMENTS, LP | $272,318 | 127,849 | 0.35% | Shares |
| BlackRock, Inc. | $260,384 | 122,246 | 0.34% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $250,488 | 117,600 | 0.32% | Call option |
| NORTHERN TRUST CORP | $230,164 | 108,058 | 0.30% | Shares |
| JPMORGAN CHASE & CO | $214,227 | 104,501 | 0.28% | Shares |
| KENNEDY CAPITAL MANAGEMENT LLC | $208,156 | 97,726 | 0.27% | Shares |
| CANADA PENSION PLAN INVESTMENT BOARD | $200,859 | 94,300 | 0.26% | Shares |
| Squarepoint Ops LLC | $200,322 | 94,048 | 0.26% | Shares |
| Mariner, LLC | $192,367 | 90,339 | 0.25% | Shares |
| CWM, LLC | $154,843 | 91,623 | 0.20% | Shares |
| BOSTON FINANCIAL MANGEMENT LLC | $140,958 | 28,248 | 0.18% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $140,793 | 66,100 | 0.18% | Put option |
| Chicago Partners Investment Group LLC | $130,175 | 83,984 | 0.17% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $124,388 | 58,398 | 0.16% | Shares |
| CAPTRUST FINANCIAL ADVISORS | $110,287 | 51,778 | 0.14% | Shares |
| WEALTH ENHANCEMENT ADVISORY SERVICES, LLC | $98,362 | 47,518 | 0.13% | Shares |
| Quadrature Capital Ltd | $98,074 | 46,044 | 0.13% | Shares |
| Cerity Partners LLC | $96,080 | 45,108 | 0.12% | Shares |
| Graham Capital Management, L.P. | $92,774 | 43,556 | 0.12% | Shares |
| INTERNATIONAL ASSETS INVESTMENT MANAGEMENT, LLC | $89,303 | 36,750 | 0.12% | Shares |
| Creative Planning | $81,366 | 38,200 | 0.10% | Shares |
| AlphaCentric Advisors LLC | $80,207 | 37,656 | 0.10% | Shares |
| MERCER GLOBAL ADVISORS INC /ADV | $78,599 | 36,901 | 0.10% | Shares |
| BANK OF AMERICA CORP /DE/ | $72,260 | 33,925 | 0.09% | Shares |
| TWO SIGMA SECURITIES, LLC | $69,902 | 32,818 | 0.09% | Shares |
| SIMPLEX TRADING, LLC | $61,678 | 28,957 | 0.08% | Shares |
| Arax Advisory Partners | $60,991 | 28,634 | 0.08% | Shares |
| STATE OF WISCONSIN INVESTMENT BOARD | $60,492 | 28,400 | 0.08% | Shares |
| Providence Wealth Advisors, LLC | $58,875 | 25,000 | 0.08% | Shares |
| RHUMBLINE ADVISERS | $56,768 | 26,652 | 0.07% | Shares |
| CIBC Private Wealth Group LLC | $54,836 | 10,505 | 0.07% | Shares |
| Schonfeld Strategic Advisors LLC | $44,559 | 20,920 | 0.06% | Shares |
| CITADEL ADVISORS LLC | $43,767 | 20,548 | 0.06% | Shares |
| Federation des caisses Desjardins du Quebec | $38,566 | 18,106 | 0.05% | Shares |
| Russell Investments Group, Ltd. | $38,195 | 17,932 | 0.05% | Shares |
| FMR LLC | $37,675 | 17,688 | 0.05% | Shares |
| Vanguard Global Advisers, LLC | $37,673 | 17,687 | 0.05% | Shares |
| LETKO, BROSSEAU & ASSOCIATES INC | $36,849 | 17,300 | 0.05% | Shares |
| Y-Intercept (Hong Kong) Ltd | $36,389 | 17,084 | 0.05% | Shares |
| BRIGHTON JONES LLC | $34,387 | 16,144 | 0.04% | Shares |
| Merit Financial Group, LLC | $33,782 | 15,860 | 0.04% | Shares |
| StoneX Group Inc. | $33,142 | 19,296 | 0.04% | Shares |
| Activest Wealth Management | $31,950 | 15,000 | 0.04% | Shares |
| Cetera Investment Advisers | $31,309 | 14,699 | 0.04% | Shares |
| Focus Partners Wealth | $29,529 | 13,863 | 0.04% | Shares |
| LPL Financial LLC | $28,363 | 13,316 | 0.04% | Shares |
| U.S. Capital Wealth Advisors, LLC | $26,710 | 15,805 | 0.03% | Shares |
| INSPIRION WEALTH ADVISORS, LLC | $24,300 | 10,000 | 0.03% | Shares |
| JANE STREET GROUP, LLC | $23,217 | 10,900 | 0.03% | Put option |
| Caitong International Asset Management Co., Ltd | $23,138 | 10,863 | 0.03% | Shares |
| JANE STREET GROUP, LLC | $22,152 | 10,400 | 0.03% | Call option |
| Global Retirement Partners, LLC | $21,300 | 10,000 | 0.03% | Shares |
| Integrated Wealth Concepts LLC | $18,668 | 8,765 | 0.02% | Shares |
| AQR CAPITAL MANAGEMENT LLC | $18,478 | 8,675 | 0.02% | Shares |
| BARCLAYS PLC | $12,288 | 5,769 | 0.02% | Shares |
| Farther Finance Advisors, LLC | $9,573 | 4,497 | 0.01% | Shares |
| Optiver Holding B.V. | $8,567 | 4,022 | 0.01% | Shares |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC | $8,154 | 4,825 | 0.01% | Shares |
| Nuveen Asset Management, LLC | $6,881 | 1,379 | 0.01% | Shares |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM | $4,964 | 2,937 | 0.01% | Shares |
| Point72 Europe (London) LLP | $4,776 | 915 | 0.01% | Shares |
Company insiders 19 insiders · 9 officers · 11 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Todd C Brady | President and CEO | June 3, 2026 P | 1,721,298 | 1 | 0 | $417,500 |
| Bruce Greenberg | Interim Chief Financial Officer | Aug. 12, 2024 S | 126,382 | 0 | 0 | $0 |
| Joshua Reed | Chief Financial Officer | March 30, 2022 A | 274,825 | 0 | 0 | $0 |
| Stephen J Tulipano | Chief Financial Officer | March 6, 2018 A | 8,563 | 0 | 0 | $0 |
| Scott Young | Chief Operating Officer | March 16, 2016 A | — | 0 | 0 | $0 |
| Michael Alfieri | Principal Financial Officer | March 18, 2026 P | 7,500 | 1 | 0 | $7,100 |
| Stephen Machatha | Chief Development Officer | Aug. 11, 2025 S | 221,799 | 0 | 0 | $0 |
| David Mcmullin | Chief Commercial Officer | March 2, 2020 A | 255,183 | 0 | 0 | $0 |
| David J Clark | Chief Medical Officer | Sept. 6, 2019 P | 17,878 | 0 | 0 | $0 |
| Nancy Miller-Rich | Director | June 9, 2026 A | 922 | 0 | 0 | $0 |
| Ben Bronstein | Director | June 9, 2026 A | 28,248 | 0 | 0 | $0 |
| Neal Walker | Director | June 9, 2026 A | 15,854 | 0 | 0 | $0 |
| William D Clark | Director | June 9, 2026 A | — | 0 | 0 | $0 |
| Gary M. Phillips | Director | June 9, 2026 A | 14,812 | 0 | 0 | $0 |
| Darlene M Deptula-Hicks | Director | June 9, 2026 A | — | 0 | 0 | $0 |
| DOUGLAS RICHARD | Director | June 9, 2026 A | 195,000 | 1 | 0 | $98,000 |
| Martin Joseph Joyce | Director | June 10, 2025 A | 23,967 | 0 | 0 | $0 |
| TREU JESSE I | Director | June 9, 2020 A | 8,763 | 0 | 0 | $0 |
| Boyd C. Clarke | Director | June 9, 2016 A | 15,500 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
ETF ownership Held by 14 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 |
|---|---|---|---|---|
| GSSC · Goldman Sachs ETF Trust | 0.01% | 74,423 NS | May 31, 2026 | N-PORT |
| RSSL · Global X Funds | 0.00% | 23,871 NS | April 30, 2026 | N-PORT |
| ITWO · ProShares Trust | 0.00% | 2,554 NS | May 31, 2026 | N-PORT |
| UWM · ProShares Trust | 0.00% | 1,997 NS | May 31, 2026 | N-PORT |
| DFAS · Dimensional ETF Trust | 0.00% | 120,844 NS | April 30, 2026 | N-PORT |
| URTY · ProShares Trust | 0.00% | 2,014 NS | May 31, 2026 | N-PORT |
| MSSM · MORGAN STANLEY PATHWAY FUNDS | 0.00% | 2,085 NS | May 31, 2026 | N-PORT |
| HDG · ProShares Trust | 0.00% | 51 NS | May 31, 2026 | N-PORT |
| VXF · VANGUARD INDEX FUNDS | — | — | July 15, 2026 | Daily |
| VTI · VANGUARD INDEX FUNDS | — | — | July 15, 2026 | Daily |
| IWC · iShares Trust | — | — | Aug. 18, 2026 | Daily |
| PRFZ · Invesco Exchange-Traded Fund Trust | — | — | July 13, 2026 | Daily |
| VHT · VANGUARD WORLD FUND | — | — | July 20, 2026 | Daily |
| QQQS · Invesco Exchange-Traded Fund Trust … | — | — | July 20, 2026 | Daily |