APPF AppFolio, Inc. - Class A Common Stock
$211.09
Price · Aug 19, 2026
Fundamentals as of Jul 23, 2026
52W Range
$143–$289
47% of range
Analyst Rating
BUY
17 analysts
Price Target
$225
+7% upside
P/E (TTM)
60.0
ROE
28.2%
Net Profit Margin
14.8%
About AppFolio, Inc. - Class A Common Stock Company overview from Wikipedia
AppFolio, Inc. is an American company founded in 2006 that offers software-as-a-service (SaaS) applications and services to the real estate industry.
Read more
AppFolio, Inc. is an American company founded in 2006 that offers software-as-a-service (SaaS) applications and services to the real estate industry.
The company's headquarters is in Goleta, California, in the Santa Barbara area.
History
AppFolio was established in 2006 by co-founders Klaus Schauser and Jon Walker. Schauser had previously founded Expertcity.
The company's first focus was property management for small to medium businesses and its first product, AppFolio Property Manager, was launched in 2007.
In November 2012, AppFolio acquired MyCase, a "legal practice management software provider."
AppFolio purchased real estate software firm RentLinx in April 2015. This acquisition included rights to the website ShowMeTheRent.com, which increased AppFolio's listing presence.
In May 2015, AppFolio announced its Initial public offering, which was unveiled in June.
In September 2018, AppFolio reported acquisition of utility analytics software WegoWise.
In January 2019, AppFolio acquired Dynasty Marketplace, Inc., for $60 million.
In September 2020, AppFolio announced the sale of MyCase to private equity firm Apax Funds, for approximately $193 million.
Products
AppFolio Property Manager
AppFolio Property Manager is a cloud-based property management platform used to manage residential and commercial rental operations, including leasing, accounting, and resident communications. The platform was expanded in 2022 with the AppFolio Stack, a marketplace for other real-estate software that can be integrated with its products.
Source: Wikipedia, CC BY-SA 4.0 · View on Wikipedia ↗
APPF Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$211.09
Market Cap
—
P/E (TTM)
60.0
EPS (TTM)
$3.88
Revenue (TTM)
$951M
Div Yield
—
ROE
28.2%
Debt/Equity
—
52W Range
$143 – $289
APPF Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view
Configure
10-Year Performance Revenue, net income, margins and EPS trends
Revenue & Net Income
$951M
2016-12-31
→
2025-12-31
EPS
$3.88
2016-12-31
→
2025-12-31
Free Cash Flow
$239M
2016-12-31
→
2025-12-31
Margins
14.8%
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Metric
5Y trend
APPF
Peer Median
P/E (TTM)
60.0
41.7
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Metric
5Y trend
APPF
Peer Median
Operating Margin
16.1%
—
Net Profit Margin
14.8%
-0.93%
ROA
21.4%
0.93%
ROE
28.2%
-19.7%
ROIC
24.6%
—
Financial Health Debt, liquidity, solvency — balance sheet strength
Metric
5Y trend
APPF
Peer Median
Current Ratio
3.3
2.1
Quick Ratio
1.3
—
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Metric
5Y trend
APPF
Peer Median
Revenue YoY
19.7%
—
Revenue CAGR 3Y
26.3%
—
Revenue CAGR 5Y
25.1%
—
EPS YoY
-30.1%
—
Net Income YoY
-30.9%
—
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
Metric
5Y trend
APPF
Peer Median
APPF Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
BUY
17 analysts
- Strong Buy 4 23.5%
- Buy 12 70.6%
- Hold 1 5.9%
- Sell 0 0.0%
- Strong Sell 0 0.0%
12-Month Price Target
9 analysts · 2026-08-13
Median
$226.00
Now
$211.09
Low
$185.00
High
$260.00
Median target
$226.00
+7.1%
Mean target
$225.11
+6.6%
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
0.01%
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| June 30, 2026 | $1.71 | $1.72 | -0.01% |
| March 31, 2026 | $1.61 | $1.50 | 0.11% |
| Dec. 31, 2025 | $1.39 | $1.28 | 0.11% |
| Sept. 30, 2025 | $1.31 | $1.48 | -0.17% |
| June 30, 2025 | $1.38 | $1.31 | 0.07% |
| March 31, 2025 | $1.21 | $1.25 | -0.04% |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| APPF | — | 60.0 | 19.7% | 14.8% | 28.2% | — |
| IDCC | $8.18B | 27.0 | -4.0% | 48.8% | 37.2% | — |
| YOU | — | — | 16.9% | 12.1% | 58.1% | — |
| DBX | $6.75B | 14.9 | -1.1% | 20.2% | -32.8% | 80.1% |
| QBTS | $9.38B | -23.6 | 178.5% | -1444.1% | -45.9% | 82.6% |
| RIOT | $4.71B | -6.5 | 71.9% | -102.4% | -21.6% | — |
| CIFR | $5.98B | -6.9 | 48.0% | -367.2% | -105.8% | — |
| CORZ | — | — | — | — | — | — |
| PLTR | $425.03B | 282.1 | 56.2% | 36.3% | 26.2% | 82.4% |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement 16
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $951M | $794M | $620M | $472M | $359M | $310M | $256M | $190M | $144M | $106M | $75M | $48M | |
| Cost of Revenue | · | · | · | · | $144M | $119M | $102M | $74M | $55M | $45M | $34M | $23M | |
| R&D Expense | $190M | $160M | $151M | $111M | $66M | $49M | $40M | $24M | $17M | $13M | $10M | $7M | |
| SG&A Expense | $96M | $86M | $93M | $101M | $57M | $47M | $34M | $25M | $21M | $18M | $14M | $6M | |
| Operating Expenses | $798M | $659M | $619M | $544M | $371M | $300M | $250M | $170M | $134M | $114M | $90M | $56M | |
| Operating Income | $153M | $136M | $963.0K | $-72M | $-12M | $10M | $6M | $20M | $9M | $-8M | $-15M | $-9M | |
| Interest Expense | · | · | · | · | · | · | · | · | · | · | $800.0K | · | |
| Other Non-op | $38.0K | $697.0K | $3.0K | $4M | $13M | $189M | $16.0K | $-56.0K | $-96.0K | $-37.0K | $5.0K | $-121.0K | |
| Pretax Income | $161M | $150M | $8M | $-67M | $2M | $197M | $5M | $20M | $10M | $-8M | $-16M | $-9M | |
| Income Tax | $20M | $-54M | $5M | $1M | $706.0K | $38M | $-31M | $420.0K | $58.0K | $67.0K | $75.0K | $0 | |
| Net Income | $141M | $204M | $3M | $-68M | $1M | $158M | $36M | $20M | $10M | $-8M | $-16M | $-9M | |
| EPS (Basic) | $3.91 | $5.63 | $0.08 | $-1.95 | $0.03 | $4.62 | $1.07 | $0.59 | $0.29 | $-0.25 | $-0.73 | · | |
| EPS (Diluted) | $3.88 | $5.55 | $0.07 | $-1.95 | $0.03 | $4.44 | $1.02 | $0.56 | $0.28 | $-0.25 | $-0.73 | · | |
| Shares (Basic) | 36,013,000 | 36,252,000 | 35,629,000 | 35,010,000 | 34,578,000 | 34,264,000 | 34,016,000 | 34,128,000 | 33,849,000 | 33,561,000 | 21,336,000 | · | |
| Shares (Diluted) | 36,327,000 | 36,782,000 | 36,417,000 | 35,010,000 | 35,701,000 | 35,713,000 | 35,567,000 | 35,562,000 | 35,151,000 | 33,561,000 | 21,336,000 | · | |
| EBITDA | $176M | $153M | $27M | $-39M | $19M | $37M | $29M | $34M | $22M | $2M | $-9M | · |
Balance Sheet 28
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $107M | $43M | $50M | $71M | $58M | $140M | $16M | $74M | $16M | $11M | $12M | $5M | |
| Short-term Investments | · | · | · | · | · | · | · | · | $30M | $15M | $10M | $0 | |
| Receivables | $37M | $24M | $21M | $17M | $13M | $10M | $8M | $6M | $3M | $3M | $2M | $1M | |
| Prepaid Expense | $65M | $33M | $40M | $25M | $24M | $21M | $16M | $12M | $5M | $4M | $3M | $1M | |
| Other Current Assets | $3M | $3M | · | · | · | · | · | · | · | · | · | · | |
| Current Assets | $353M | $335M | $272M | $201M | $159M | $199M | $62M | $108M | $54M | $32M | $28M | $8M | |
| PP&E (Net) | $23M | $24M | $28M | $26M | $30M | $26M | $15M | $7M | $7M | $7M | $6M | $3M | |
| PP&E (Gross) | $43M | $41M | $43M | $39M | $41M | $38M | $26M | $16M | $13M | $12M | $9M | $5M | |
| Accum. Depreciation | $20M | $16M | $15M | $13M | $11M | $11M | $12M | $9M | $7M | $5M | $3M | $2M | |
| Goodwill | $96M | $96M | $56M | $56M | $56M | $56M | $58M | $16M | $7M | $7M | $7M | $5M | |
| Intangibles | $39M | $49M | $2M | $5M | $12M | $16M | $21M | $6M | $2M | $3M | $5M | $4M | |
| Other Non-current Assets | $14M | $9M | $9M | $9M | $7M | $6M | $6M | $8M | $1M | $1M | $1M | $882.0K | |
| Total Assets | $689M | $627M | $409M | $381M | $408M | $389M | $260M | $176M | $110M | $93M | $90M | $25M | |
| Accounts Payable | $4M | $2M | $1M | $2M | $2M | $1M | $2M | $1M | $610.0K | $937.0K | $2M | $2M | |
| Accrued Liabilities | $21M | $15M | $22M | $16M | $13M | $14M | $11M | $8M | $4M | $4M | $3M | $2M | |
| Current Liabilities | $107M | $63M | $70M | $61M | $53M | $50M | $47M | $28M | $24M | $21M | $17M | $14M | |
| Capital Leases | $33M | $37M | $41M | $50M | $56M | $40M | $33M | · | · | · | · | · | |
| Deferred Tax | · | $0 | $697.0K | · | $2M | $14M | $0 | · | · | · | · | · | |
| Other Non-current Liabilities | $6M | $7M | $0 | $4M | $2M | · | $14.0K | $7M | $1M | $2M | $879.0K | $199.0K | |
| Total Liabilities | $146M | $107M | $112M | $116M | $111M | $104M | $128M | $84M | $25M | $23M | $18M | $14M | |
| Long-term Debt | · | · | · | · | · | · | $49M | $50M | $0 | · | · | $0 | |
| Total Debt | · | · | · | · | · | $0 | $49M | $50M | · | · | · | · | |
| Paid-in Capital | $284M | $255M | $237M | $210M | $172M | $161M | $162M | $158M | $153M | $147M | $142M | $2M | |
| Retained Earnings | $431M | $290M | $86M | $83M | $151M | $150M | $-8M | $-44M | $-67M | $-77M | $-69M | $-53M | |
| Treasury Stock | $172M | $26M | $26M | $26M | $26M | $26M | $22M | $22M | $0 | · | · | · | |
| AOCI | $30.0K | $173.0K | $99.0K | $-2M | $-194.0K | $56.0K | $33.0K | $-178.0K | $-209.0K | $-51.0K | $-153.0K | $0 | |
| Stockholders' Equity | $543M | $519M | $297M | $266M | $297M | $286M | $132M | $92M | $85M | $70M | $73M | $-51M | |
| Liabilities + Equity | $689M | $627M | $409M | $381M | $408M | $389M | $260M | $176M | $110M | $93M | $90M | $25M |
Cash Flow 16
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $23M | $20M | $29M | $31M | $29M | $27M | $22M | $15M | $13M | $10M | $6M | $4M | |
| Stock-based Comp | $71M | $60M | $52M | $43M | $17M | $10M | $8M | $6M | $6M | $4M | $1M | $892.0K | |
| Deferred Tax | $17M | $-87M | $-489.0K | $-597.0K | $340.0K | $29M | $-31M | $81.0K | $5.0K | $43.0K | · | · | |
| Amort. of Intangibles | $10M | $2M | $2M | $4M | $5M | $5M | $5M | $1M | $1M | $1M | $1M | $900.0K | |
| Restructuring | · | · | $10M | · | · | · | · | · | · | · | · | · | |
| Other Non-cash | $-10M | $-9M | $-23M | $18M | $-14M | $-175M | $4M | $-5M | $860.0K | $6M | $2M | · | |
| Operating Cash Flow | $242M | $188M | $60M | $25M | $35M | $48M | $39M | $36M | $29M | $12M | $-7M | $475.0K | |
| CapEx | $3M | $2M | $9M | $7M | $8M | $19M | $8M | $2M | $2M | $4M | $4M | $2M | |
| Investing Cash Flow | $10M | $-152M | $-56M | $-6M | $-110M | $147M | $-90M | $-5M | $-23M | $-13M | $-59M | $-6M | |
| Stock Repurchased | $146M | $0 | $0 | $0 | $0 | $4M | $0 | $22M | $0 | $0 | · | · | |
| Net Stock Activity | $-146M | · | · | $0 | $0 | $-4M | $0 | $-22M | · | · | · | · | |
| Financing Cash Flow | $-188M | $-43M | $-26M | $-6M | $-7M | $-70M | $-7M | $26M | $-1M | $201.0K | $73M | $144.0K | |
| Net Change in Cash | $64M | $-7M | $-21M | $13M | $-82M | $124M | $-58M | · | · | · | · | · | |
| Taxes Paid | $29M | · | · | · | · | · | · | · | · | · | · | · | |
| Free Cash Flow | $239M | $186M | $51M | $19M | $27M | $29M | $31M | $34M | $27M | $7M | $-11M | · | |
| Levered FCF | · | · | · | · | · | · | · | · | · | · | $-11M | · |
Profitability 7
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | 16.1% | 17.1% | 0.16% | -15.3% | -3.3% | 3.2% | 2.5% | 10.3% | 6.5% | -8.0% | -20.0% | · | |
| Net Margin | 14.8% | 25.7% | 0.44% | -14.4% | 0.29% | 51.1% | 14.2% | 10.5% | 6.8% | -7.8% | -20.9% | · | |
| Pretax Margin | 16.9% | 18.9% | 1.3% | -14.1% | 0.48% | 63.5% | 1.9% | 10.7% | 6.8% | -7.8% | -20.8% | · | |
| EBITDA Margin | 18.5% | 19.3% | 4.4% | -8.3% | 5.3% | 11.8% | 11.3% | 18.0% | 15.3% | 1.4% | -11.9% | · | |
| ROA | 21.4% | 39.4% | 0.68% | -17.3% | 0.26% | 48.8% | 16.7% | 14.0% | 9.6% | -9.0% | -27.0% | · | |
| ROE | 28.2% | 43.8% | 0.97% | -25.4% | 0.35% | 55.5% | 28.2% | 20.0% | 12.6% | -11.6% | -147.6% | · | |
| ROIC | 24.6% | 35.5% | 0.11% | -27.8% | -2.4% | 2.8% | 26.9% | 13.6% | 10.9% | -12.2% | -20.7% | · |
Liquidity & Solvency 5
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 3.3 | 5.3 | 3.9 | 3.3 | 3.0 | 4.0 | 1.3 | 3.8 | 2.3 | 1.5 | 1.6 | · | |
| Quick Ratio | 1.3 | 1.1 | 1.0 | 1.4 | 1.3 | 3.0 | 0.5 | 2.8 | 2.1 | 1.3 | 1.4 | · | |
| Debt / Equity | · | · | · | · | · | 0.0 | 0.4 | 0.5 | · | · | · | · | |
| LT Debt / Equity | · | · | · | · | · | · | 0.4 | 0.5 | · | · | · | · | |
| Interest Coverage | · | · | · | · | · | · | · | · | · | · | -18.8 | · |
Efficiency 2
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 1.4 | 1.5 | 1.6 | 1.2 | 0.9 | 1.0 | 1.2 | 1.3 | 1.4 | 1.2 | 1.3 | · | |
| Receivables Turnover | 31.1 | 35.3 | 33.3 | 32.4 | 31.7 | 35.2 | 39.2 | 42.7 | 48.8 | 46.3 | 46.3 | · |
Growth Rates 9
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue YoY | 19.7% | 28.0% | 31.5% | 31.3% | 15.9% | · | · | · | · | · | · | · | |
| Revenue CAGR 3Y | 26.3% | 30.3% | 26.0% | · | · | · | · | · | · | · | · | · | |
| Revenue CAGR 5Y | 25.1% | · | · | · | · | · | · | · | · | · | · | · | |
| EPS YoY | -30.1% | 7828.6% | · | · | -99.3% | · | · | · | · | · | · | · | |
| EPS CAGR 3Y | · | 469.8% | -74.9% | · | · | · | · | · | · | · | · | · | |
| EPS CAGR 5Y | -2.7% | · | · | · | · | · | · | · | · | · | · | · | |
| Net Income YoY | -30.9% | 7452.5% | · | · | -99.4% | · | · | · | · | · | · | · | |
| Net Income CAGR 3Y | · | 483.3% | -74.3% | · | · | · | · | · | · | · | · | · | |
| Net Income CAGR 5Y | -2.3% | · | · | · | · | · | · | · | · | · | · | · |
Valuation (TTM) 4
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $951M | $794M | $620M | $472M | $359M | $310M | $256M | $190M | $144M | $106M | $75M | · | |
| Net Income TTM | $141M | $204M | $3M | $-68M | $1M | $158M | $36M | $20M | $10M | $-8M | $-16M | · | |
| P/E | 60.0 | 44.5 | 2474.9 | -54.0 | 4035.3 | 40.5 | 107.8 | 105.8 | 148.2 | -95.4 | -20.0 | · | |
| Earnings Yield | 1.7% | 2.2% | 0.04% | -1.8% | 0.02% | 2.5% | 0.93% | 0.95% | 0.67% | -1.1% | -5.0% | · |
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 | $281M | $262M | $248M | $249M | $236M | $218M | $204M | $206M | $197M | $187M | $172M | $165M | $147M | $136M | $124M | $125M | |
| R&D Expense | $51M | $50M | $46M | $54M | $47M | $44M | $42M | $41M | $40M | $38M | $35M | $42M | $37M | $38M | $31M | $29M | |
| SG&A Expense | $26M | $24M | $23M | $27M | $22M | $23M | $23M | $21M | $20M | $21M | $19M | $24M | $19M | $32M | $25M | $19M | |
| Operating Expenses | $228M | $211M | $205M | $214M | $195M | $184M | $181M | $163M | $161M | $153M | $144M | $166M | $148M | $163M | $144M | $133M | |
| Operating Income | $53M | $51M | $44M | $35M | $41M | $34M | $23M | $43M | $36M | $34M | $28M | $-67.0K | $-679.0K | $-27M | $-20M | $-8M | |
| Other Non-op | $-1.0K | $569.0K | $-3.0K | $-4.0K | $-11.0K | $56.0K | $697.0K | $0 | $0 | $0 | $286.0K | $-249.0K | $-54.0K | $20.0K | $213.0K | $4M | |
| Pretax Income | $54M | $53M | $46M | $37M | $42M | $37M | $27M | $47M | $40M | $37M | $31M | $1M | $745.0K | $-25M | $-19M | $-3M | |
| Income Tax | $13M | $11M | $6M | $3M | $6M | $5M | $-76M | $14M | $10M | $-2M | $661.0K | $-25M | $20M | $10M | $513.0K | $938.0K | |
| Net Income | $42M | $42M | $40M | $34M | $36M | $31M | $103M | $33M | $30M | $39M | $30M | $26M | $-19M | $-35M | $-20M | $-4M | |
| EPS (Basic) | $1.17 | $1.19 | $1.11 | $0.94 | $1.00 | $0.86 | $2.83 | $0.91 | $0.82 | $1.07 | $0.86 | $0.74 | $-0.53 | $-0.99 | $-0.56 | $-0.12 | |
| EPS (Diluted) | $1.17 | $1.18 | $1.10 | $0.93 | $0.99 | $0.86 | $2.79 | $0.90 | $0.81 | $1.05 | $0.87 | $0.72 | $-0.53 | $-0.99 | $-0.56 | $-0.12 | |
| Shares (Basic) | 35,391,000 | 35,699,000 | -72,100,000 | 35,889,000 | 35,922,000 | 36,302,000 | -72,382,000 | 36,306,000 | 36,241,000 | 36,087,000 | -71,070,000 | 35,691,000 | 35,565,000 | 35,443,000 | -69,796,000 | 35,043,000 | |
| Shares (Diluted) | 35,461,000 | 35,812,000 | -72,784,000 | 36,259,000 | 36,204,000 | 36,648,000 | -73,390,000 | 36,756,000 | 36,742,000 | 36,674,000 | -71,073,000 | 36,482,000 | 35,565,000 | 35,443,000 | -69,796,000 | 35,043,000 | |
| EBITDA | $53M | $56M | · | $35M | $41M | $40M | · | $43M | $36M | $39M | · | $-67.0K | $-679.0K | $-20M | · | $-8M |
Balance Sheet 24
| 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 | $217M | $147M | $107M | $76M | $73M | $57M | $43M | $62M | $60M | $59M | $50M | $60M | $25M | $104M | $71M | $67M | |
| Receivables | $50M | $44M | $37M | $34M | $33M | $27M | $24M | $26M | $26M | $26M | · | $20M | $20M | $17M | · | $15M | |
| Prepaid Expense | $53M | $59M | $65M | $68M | $37M | $34M | $33M | $38M | $42M | $37M | · | $28M | $25M | $26M | · | $23M | |
| Other Current Assets | $2M | $1M | $3M | $3M | · | · | $3M | · | · | · | · | · | · | · | · | · | |
| Current Assets | $325M | $255M | $353M | $303M | $197M | $272M | $335M | $395M | $349M | $307M | · | $240M | $209M | $212M | · | $177M | |
| PP&E (Net) | $21M | $22M | $23M | $23M | $23M | $23M | $24M | $25M | $27M | $28M | · | $27M | $27M | $26M | · | $28M | |
| PP&E (Gross) | · | · | $43M | · | · | · | $41M | · | · | · | · | · | · | · | · | · | |
| Accum. Depreciation | · | · | $20M | · | · | · | $16M | · | · | · | · | · | · | · | · | · | |
| Goodwill | $96M | $96M | $96M | $96M | $96M | $96M | $96M | $56M | $56M | $56M | $56M | $56M | $56M | $56M | $56M | $56M | |
| Intangibles | $34M | $36M | $39M | $41M | $44M | $46M | $49M | · | · | · | · | $3M | $4M | $4M | · | $6M | |
| Other Non-current Assets | $15M | $15M | $14M | $12M | $11M | $13M | $9M | $13M | $12M | $11M | · | $9M | $8M | $9M | · | $9M | |
| Total Assets | $648M | $581M | $689M | $640M | $567M | $565M | $627M | $523M | $479M | $439M | · | $379M | $351M | $371M | · | $385M | |
| Accounts Payable | $5M | $4M | $4M | $4M | $3M | $5M | $2M | $509.0K | $1M | $2M | · | $1M | $2M | $740.0K | · | $2M | |
| Accrued Liabilities | $27M | $21M | $21M | $19M | $18M | $16M | $15M | $15M | $16M | $14M | · | $20M | $19M | $18M | · | $16M | |
| Current Liabilities | $85M | $72M | $107M | $100M | $68M | $59M | $63M | $64M | $63M | $56M | · | $74M | $75M | $80M | · | $58M | |
| Capital Leases | $31M | $32M | $33M | $35M | $35M | $36M | $37M | $38M | $39M | $40M | · | $41M | $40M | $45M | · | $53M | |
| Other Non-current Liabilities | $7M | $6M | $6M | $7M | $9M | $8M | $7M | $8M | $5M | $3M | · | $689.0K | $11M | $5M | · | $2M | |
| Total Liabilities | $122M | $110M | $146M | $142M | $112M | $103M | $107M | $110M | $108M | $100M | · | $116M | $125M | $130M | · | $113M | |
| Paid-in Capital | $309M | $295M | $284M | $280M | $271M | $262M | $255M | $251M | $243M | $240M | · | $233M | $223M | $219M | · | $197M | |
| Retained Earnings | $515M | $473M | $431M | $391M | $357M | $321M | $290M | $187M | $154M | $125M | · | $56M | $29M | $48M | · | $103M | |
| Treasury Stock | $298M | $298M | $172M | $172M | $172M | $122M | $26M | $26M | $26M | $26M | · | $26M | $26M | $26M | · | $26M | |
| AOCI | $-12.0K | $-12.0K | $30.0K | $-74.0K | $-71.0K | $-34.0K | $173.0K | $475.0K | $-184.0K | $-115.0K | · | $-9.0K | $-587.0K | $-921.0K | · | $-3M | |
| Stockholders' Equity | $526M | $470M | $543M | $499M | $456M | $462M | $519M | $413M | $371M | $339M | $297M | $263M | $226M | $241M | $266M | $272M | |
| Liabilities + Equity | $648M | $581M | $689M | $640M | $567M | $565M | $627M | $523M | $479M | $439M | · | $379M | $351M | $371M | · | $385M |
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 | $5M | $5M | $5M | $5M | $6M | $6M | $5M | $5M | $5M | $5M | $9M | $7M | $6M | $7M | $8M | $7M | |
| Stock-based Comp | $20M | $18M | $15M | $21M | $18M | $16M | $16M | $15M | $14M | $13M | $10M | $16M | $11M | $15M | $13M | $11M | |
| Amort. of Intangibles | · | · | · | · | · | · | · | · | · | · | $700.0K | $600.0K | $600.0K | $600.0K | $900.0K | $1M | |
| Restructuring | · | · | · | · | · | · | · | · | · | · | $0 | $10M | · | · | · | · | |
| Other Non-cash | · | $-31M | · | · | · | $-16M | · | · | · | $-14M | · | · | · | $15M | · | · | |
| Operating Cash Flow | $88M | $34M | $65M | $86M | $53M | $38M | $37M | $58M | $51M | $43M | $31M | $37M | $-9M | $2M | $6M | $16M | |
| CapEx | $-3.0K | $231.0K | $1M | $1M | $275.0K | $230.0K | $195.0K | $363.0K | $38.0K | $1M | $3M | $4M | $1M | $794.0K | $597.0K | $844.0K | |
| Investing Cash Flow | $-11M | $138M | $-22M | $-72M | $24M | $81M | $-44M | $-46M | $-38M | $-23M | $-33M | $4M | $-63M | $36M | $-1M | $9M | |
| Stock Repurchased | $0 | $125M | $0 | $0 | $50M | $96M | $0 | $0 | $0 | $0 | · | · | · | · | · | · | |
| Net Stock Activity | · | $-125M | · | · | · | $-96M | · | · | · | · | · | · | · | · | · | · | |
| Financing Cash Flow | $-6M | $-132M | $-12M | $-11M | $-60M | $-105M | $-12M | $-9M | $-12M | $-10M | $-8M | $-6M | $-7M | $-5M | $-1M | $-8.0K | |
| Net Change in Cash | $70M | $40M | $31M | $3M | $17M | $14M | $-20M | $3M | $425.0K | $10M | $-10M | $35M | $-79M | $33M | $4M | $25M | |
| Free Cash Flow | · | $34M | · | · | · | $38M | · | · | · | $42M | · | · | · | $779.0K | · | · |
Profitability 7
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | 18.8% | 19.4% | · | 14.1% | 17.2% | 15.5% | · | 20.7% | 18.2% | 18.2% | · | -0.04% | -0.46% | -19.5% | · | -6.2% | |
| Net Margin | 14.8% | 16.2% | · | 13.5% | 15.3% | 14.4% | · | 16.0% | 15.0% | 20.6% | · | 16.0% | -12.8% | -25.8% | · | -3.3% | |
| Pretax Margin | 19.4% | 20.2% | · | 14.7% | 17.8% | 16.9% | · | 22.6% | 20.0% | 19.8% | · | 0.89% | 0.51% | -18.5% | · | -2.6% | |
| EBITDA Margin | 18.8% | 21.3% | · | 14.1% | 17.2% | 18.4% | · | 20.7% | 18.2% | 20.7% | · | -0.04% | -0.46% | -14.4% | · | -6.2% | |
| ROA | 6.8% | 7.4% | · | 5.8% | 6.9% | 6.2% | · | 7.3% | 7.1% | 9.6% | · | 6.9% | -5.2% | -9.1% | · | -1.1% | |
| ROE | 8.5% | 9.1% | · | 7.4% | 8.7% | 7.8% | · | 9.8% | 9.9% | 13.3% | · | 9.9% | -7.7% | -13.3% | · | -1.5% | |
| ROIC | 7.7% | 8.6% | · | 6.4% | 7.6% | 6.2% | · | 7.3% | 7.3% | 10.5% | · | -0.46% | 7.6% | -15.4% | · | -3.7% |
Liquidity & Solvency 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 3.8 | 3.5 | · | 3.0 | 2.9 | 4.6 | · | 6.2 | 5.5 | 5.5 | · | 3.2 | 2.8 | 2.7 | · | 3.1 | |
| Quick Ratio | 3.2 | 2.6 | · | 1.1 | 1.6 | 1.4 | · | 1.4 | 1.3 | 1.5 | · | 1.1 | 0.6 | 1.5 | · | 1.4 |
Efficiency 2
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.5 | 0.5 | · | 0.4 | 0.5 | 0.4 | · | 0.5 | 0.5 | 0.5 | · | 0.4 | 0.4 | 0.4 | · | 0.3 | |
| Receivables Turnover | 6.8 | 7.3 | · | 8.3 | 8.1 | 8.1 | · | 9.0 | 8.6 | 8.6 | · | 9.4 | 8.1 | 8.1 | · | 9.2 |
Valuation (TTM) 4
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $1.03B | $965M | · | $908M | $856M | $808M | · | $756M | $697M | $636M | · | $574M | $526M | $484M | · | $444M | |
| Net Income TTM | $154M | $143M | · | $134M | $130M | $133M | · | $128M | $76M | $11M | · | $-32M | $-88M | $-84M | · | $-49M | |
| P/E | 37.6 | 39.9 | · | 74.9 | 64.7 | 60.7 | · | 67.6 | 119.3 | 987.0 | · | -198.5 | -68.9 | -52.3 | · | -75.3 | |
| Earnings Yield | 2.7% | 2.5% | · | 1.3% | 1.6% | 1.7% | · | 1.5% | 0.84% | 0.10% | · | -0.50% | -1.5% | -1.9% | · | -1.3% |
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 | $951M | $794M | $620M | $472M | $359M |
| Operating Margin % | 16.1% | 17.1% | 0.16% | -15.3% | -3.3% |
| Net Income | $141M | $204M | $3M | $-68M | $1M |
| Diluted EPS | $3.88 | $5.55 | $0.07 | $-1.95 | $0.03 |
Balance Sheet
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Current Ratio | 3.3 | 5.3 | 3.9 | 3.3 | 3.0 |
| Quick Ratio | 1.3 | 1.1 | 1.0 | 1.4 | 1.3 |
Cash Flow
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Free Cash Flow | $239M | $186M | $51M | $19M | $27M |
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Institutional owners (13F) 426 filers · $2.4B total · As of June 30, 2026
Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.
Institutional activity — Q2 2026 vs prior quarter
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 71 (+1 vs prior Q) | 61 (-8 vs prior Q) | 140 (-41 vs prior Q) | 139 (+35 vs prior Q) | +4.4M |
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 PORTFOLIO MANAGEMENT LLC | $238,930,800 | 1,490,058 | 9.75% | Shares |
| Ashe Capital Management, LP | $168,033,170 | 1,047,915 | 6.86% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $166,994,583 | 1,041,438 | 6.82% | Shares |
| STATE STREET CORP | $122,849,106 | 766,131 | 5.02% | Shares |
| WILLIAM BLAIR INVESTMENT MANAGEMENT, LLC | $115,744,799 | 721,826 | 4.73% | Shares |
| LONDON CO OF VIRGINIA | $112,750,940 | 703,151 | 4.60% | Shares |
| Nellore Capital Management LLC | $105,007,603 | 654,865 | 4.29% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $67,186,992 | 418,883 | 2.74% | Shares |
| Lead Edge Capital Management, LLC | $64,084,840 | 399,656 | 2.62% | Shares |
| NEUBERGER BERMAN GROUP LLC | $62,731,486 | 391,216 | 2.56% | Shares |
| Keenan Capital, LLC | $53,646,215 | 334,557 | 2.19% | Shares |
| LONG WALK MANAGEMENT LP | $48,886,706 | 304,875 | 2.00% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $48,494,811 | 302,431 | 1.98% | Shares |
| Caledonia (Private) Investments Pty Ltd | $46,575,582 | 290,462 | 1.90% | Shares |
| Greenstone Partners & Co., LLC | $43,874,486 | 273,617 | 1.79% | Shares |
| GILDER GAGNON HOWE & CO LLC | $40,129,872 | 250,264 | 1.64% | Shares |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | $37,537,935 | 234,100 | 1.53% | Shares |
| FMR LLC | $37,018,080 | 230,858 | 1.51% | Shares |
| Greenstone Partners, L.P. | $36,601,032 | 132,776 | 1.49% | Shares |
| VANGUARD GROUP INC | $33,261,273 | 142,967 | 1.36% | Shares |
| KAYNE ANDERSON RUDNICK INVESTMENT MANAGEMENT LLC | $31,875,656 | 198,788 | 1.30% | Shares |
| RENAISSANCE TECHNOLOGIES LLC | $29,799,444 | 185,840 | 1.22% | Shares |
| JONES FINANCIAL COMPANIES LLLP | $27,536,140 | 176,922 | 1.12% | Shares |
| JENNISON ASSOCIATES LLC | $27,356,513 | 170,605 | 1.12% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $24,841,743 | 154,922 | 1.01% | Shares |
| Caisse de depot et placement du Quebec | $22,119,801 | 137,947 | 0.90% | Shares |
| FIRST TRUST ADVISORS LP | $20,630,631 | 128,660 | 0.84% | Shares |
| AMERIPRISE FINANCIAL INC | $19,477,578 | 121,466 | 0.80% | Shares |
| WELLINGTON MANAGEMENT GROUP LLP | $19,217,466 | 119,847 | 0.78% | Shares |
| Sone Capital Management, LLC | $18,640,848 | 116,251 | 0.76% | Shares |
| Point72 Asset Management, L.P. | $16,221,327 | 101,162 | 0.66% | Shares |
| BROWN CAPITAL MANAGEMENT LLC | $15,962,682 | 99,549 | 0.65% | Shares |
| NORGES BANK | $15,325,612 | 95,576 | 0.63% | Shares |
| CROSSLINK CAPITAL INC | $14,967,069 | 93,340 | 0.61% | Shares |
| TenCore Partners, LP | $14,154,095 | 88,270 | 0.58% | Shares |
| ENVESTNET ASSET MANAGEMENT INC | $14,103,825 | 87,957 | 0.58% | Shares |
| Langdon Equity Partners | $13,629,750 | 85,000 | 0.56% | Shares |
| JPMORGAN CHASE & CO | $13,419,928 | 84,597 | 0.55% | Shares |
| HMI Capital Management, L.P. | $12,026,250 | 75,000 | 0.49% | Shares |
| Tensile Capital Management LP | $11,705,550 | 73,000 | 0.48% | Shares |
| MILLENNIUM MANAGEMENT LLC | $11,131,176 | 69,418 | 0.45% | Shares |
| Toroso Investments, LLC | $10,878,016 | 46,757 | 0.44% | Shares |
| RHUMBLINE ADVISERS | $10,129,260 | 63,170 | 0.41% | Shares |
| NEW YORK STATE COMMON RETIREMENT FUND | $9,995,417 | 62,335 | 0.41% | Shares |
| Ranger Investment Management, L.P. | $9,090,081 | 56,689 | 0.37% | Shares |
| Gotham Asset Management, LLC | $8,971,101 | 55,947 | 0.37% | Shares |
| PRINCIPAL FINANCIAL GROUP INC | $8,900,339 | 55,471 | 0.36% | Shares |
| EULAV Asset Management | $8,893,011 | 55,460 | 0.36% | Shares |
| Quantinno Capital Management LP | $8,501,436 | 53,018 | 0.35% | Shares |
| RIVERBRIDGE PARTNERS LLC | $8,151,692 | 50,837 | 0.33% | Shares |
| ROYCE & ASSOCIATES LP | $7,882,646 | 49,159 | 0.32% | Shares |
| Granite Investment Partners, LLC | $7,654,788 | 47,738 | 0.31% | Shares |
| BANK OF AMERICA CORP /DE/ | $7,600,910 | 47,402 | 0.31% | Shares |
| Swiss National Bank | $7,433,826 | 46,360 | 0.30% | Shares |
| JANE STREET GROUP, LLC | $6,494,175 | 40,500 | 0.27% | Put option |
| TWO SIGMA ADVISERS, LP | $6,189,886 | 26,606 | 0.25% | Shares |
| BLAIR WILLIAM & CO/IL | $5,995,246 | 37,389 | 0.24% | Shares |
| LOOMIS SAYLES & CO L P | $5,685,370 | 35,456 | 0.23% | Shares |
| GOLDMAN SACHS GROUP INC | $5,499,684 | 34,298 | 0.22% | Shares |
| ROYAL BANK OF CANADA | $5,469,000 | 34,106 | 0.22% | Shares |
| Russell Investments Group, Ltd. | $5,004,202 | 31,208 | 0.20% | Shares |
| Squarepoint Ops LLC | $4,880,733 | 30,438 | 0.20% | Shares |
| BlackRock, Inc. | $4,672,278 | 29,138 | 0.19% | Shares |
| CITADEL ADVISORS LLC | $4,537,905 | 28,300 | 0.19% | Put option |
| Balyasny Asset Management L.P. | $4,528,124 | 28,239 | 0.18% | Shares |
| Baker Avenue Asset Management, LP | $4,387,176 | 27,360 | 0.18% | Shares |
| Atika Capital Management LLC | $4,307,322 | 26,862 | 0.18% | Shares |
| JACOBS LEVY EQUITY MANAGEMENT, INC | $4,282,628 | 26,708 | 0.17% | Shares |
| JANE STREET GROUP, LLC | $4,249,275 | 26,500 | 0.17% | Call option |
| ALLIANCEBERNSTEIN L.P. | $4,237,625 | 26,851 | 0.17% | Shares |
| XTX Topco Ltd | $4,205,981 | 26,230 | 0.17% | Shares |
| CITADEL ADVISORS LLC | $4,153,065 | 25,900 | 0.17% | Call option |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM | $4,066,390 | 25,766 | 0.17% | Shares |
| Retirement Systems of Alabama | $3,985,339 | 24,854 | 0.16% | Shares |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM | $3,832,205 | 23,899 | 0.16% | Shares |
| VANGUARD ASSET MANAGEMENT, Ltd | $3,796,767 | 23,678 | 0.16% | Shares |
| LOS ANGELES CAPITAL MANAGEMENT LLC | $3,661,272 | 22,833 | 0.15% | Shares |
| Advisors Capital Management, LLC | $3,235,221 | 20,176 | 0.13% | Shares |
| EFG Asset Management (North America) Corp. | $3,228,406 | 11,702 | 0.13% | Shares |
| Assenagon Asset Management S.A. | $3,095,236 | 19,303 | 0.13% | Shares |
| Orion Porfolio Solutions, LLC | $3,076,588 | 19,187 | 0.13% | Shares |
| Davidson Kahn Capital Management, LLC | $3,035,426 | 18,930 | 0.12% | Shares |
| Orion Portfolio Solutions, LLC | $3,025,164 | 13,757 | 0.12% | Shares |
| VICTORY CAPITAL MANAGEMENT INC | $2,945,790 | 18,371 | 0.12% | Shares |
| Alamar Capital Management, LLC | $2,878,283 | 17,950 | 0.12% | Shares |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE | $2,651,708 | 16,537 | 0.11% | Shares |
| CHANNEL WEALTH LLC | $2,643,530 | 16,486 | 0.11% | Shares |
| TWO SIGMA INVESTMENTS, LP | $2,561,110 | 15,972 | 0.10% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $2,453,355 | 15,300 | 0.10% | Put option |
| VIRGINIA RETIREMENT SYSTEMS ET Al | $2,426,772 | 10,431 | 0.10% | Shares |
| Legal & General Group Plc | $2,331,649 | 14,541 | 0.10% | Shares |
| WOLVERINE TRADING, LLC | $2,306,418 | 8,162 | 0.09% | Shares |
| JOHNSON INVESTMENT COUNSEL INC | $2,278,734 | 14,211 | 0.09% | Shares |
| Nicholas Investment Partners, LP | $2,256,285 | 14,071 | 0.09% | Shares |
| MISSION WEALTH MANAGEMENT, LP | $2,255,644 | 14,067 | 0.09% | Shares |
| Kerrisdale Advisers, LLC | $2,229,506 | 13,904 | 0.09% | Shares |
| Man Group plc | $2,207,218 | 13,765 | 0.09% | Shares |
| Aristides Capital LLC | $2,142,276 | 13,360 | 0.09% | Shares |
| Connor, Clark & Lunn Investment Management Ltd. | $2,138,588 | 13,337 | 0.09% | Shares |
| RAYMOND JAMES FINANCIAL INC | $2,128,326 | 13,273 | 0.09% | Shares |
Company insiders 28 insiders · 2 officers · 12 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Brian Donahoo | Chief Executive Officer | June 25, 2015 C | — | 0 | 0 | $0 |
| Klaus Schauser | Chief Strategist | June 25, 2015 C | — | 0 | 0 | $0 |
| Michael Miqi Yang | Director | June 29, 2026 A | 3,776 | 0 | 0 | $0 |
| Saori Casey | Director | June 29, 2026 A | 2,358 | 0 | 0 | $0 |
| Diya Jolly | Director | June 29, 2026 A | 2,217 | 0 | 0 | $0 |
| Olivia Nottebohm | Director | June 29, 2026 A | 4,019 | 0 | 0 | $0 |
| Agnes Bundy Scanlan | Director | June 29, 2026 A | 7,343 | 0 | 0 | $0 |
| Winifred Markus Webb | Director | June 29, 2026 A | 9,225 | 0 | 0 | $0 |
| APPFOLIO INC | Director | June 29, 2026 A | 2,217 | 0 | 0 | $0 |
| Timothy K Bliss | Director | June 9, 2025 P | 22,000 | 0 | 0 | $0 |
| William R Rauth III | Director | Dec. 1, 2021 J | 6,698 | 0 | 0 | $0 |
| Andreas Von Blottnitz | Director | June 25, 2015 A | 8,333 | 0 | 0 | $0 |
| Maurice J Duca | 10% owner | Aug. 17, 2026 S | 50,732 | 0 | 289 | $-37,717,667 |
| Investment Group of Santa Barbara, LLC | 10% owner | Dec. 1, 2021 J | — | 0 | 0 | $0 |
| IGSB IVP III, LLC | 10% owner | Dec. 1, 2021 J | — | 0 | 0 | $0 |
| IGSB Internal Venture Fund III, LLC | 10% owner | Dec. 1, 2021 J | — | 0 | 0 | $0 |
| Charles J Keenan IV | 10% owner | Feb. 10, 2016 C | 58,343 | 0 | 0 | $0 |
| IGSB Internal Venture Fund II, LLC | 10% owner | Dec. 18, 2015 J | — | 0 | 0 | $0 |
| IGSB IVP II, LLC | 10% owner | Dec. 18, 2015 J | — | 0 | 0 | $0 |
| William Shane Trigg | — | Aug. 14, 2026 S | 70,772 | 0 | 1 | $-421,685 |
| Evan Pickering | — | Aug. 12, 2026 S | 5,167 | 0 | 8 | $-327,890 |
| Don Rigler | — | Aug. 10, 2026 F | 4,025 | 0 | 2 | $-53,314 |
| Elizabeth Erin Barat | — | Aug. 10, 2026 F | 20,301 | 0 | 0 | $0 |
| Timothy Mathias Eaton | — | Aug. 10, 2026 F | 17,087 | 0 | 5 | $-413,788 |
| Janet Kerr | — | March 10, 2026 G | 10,352 | 0 | 0 | $0 |
| OBERNDORF WILLIAM E | — | June 19, 2017 S | 286,171 | 0 | 0 | $0 |
| James R Peters | — | June 27, 2016 A | 19,762 | 0 | 0 | $0 |
| Ida Kathleen Kane | — | May 20, 2016 A | — | 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 |
|---|---|---|---|---|---|
| Maurice J Duca | Aug. 13, 2026 | 21.20% | Amendment | — | SEC |
| Maurice J. Duca ×3 filings | July 19, 2024 | — | Initial filing | — | SEC |
| Timothy K. Bliss ×2 filings | Dec. 15, 2023 | — | Initial filing | — | SEC |
| IGSB IVP III, LLC, IGSB Internal Venture Fund III, LLC, Investment Group of Santa Barbara, LLC, Timothy K. Bliss, Maurice J. Duca, William R. Rauth III ×2 filings | Dec. 23, 2021 | — | Initial filing | — | SEC |
| Marc Stad, Dragoneer Investment Group, LLC, Dragoneer Global Fund II, L.P. ×18 filings | Nov. 15, 2017 | — | Initial filing | — | SEC |
| William E. Oberndorf, Bill & Susan Oberndorf Foundation, Oberndorf Investments LLC, Peter C. Oberndorf, Peter Oberndorf Irrevocable Trust, dated 6/30/89, C aroline G. Oberndorf, William E. Oberndorf Irrevocable Trust, dated 6/30/89 ×2 filings | Jan. 15, 2016 | — | Initial filing | — | SEC |
| IGSB IVP II, LLC, IGSB Internal Venture Fund II, LLC, IGSB IVP III, LLC, IGSB Internal Venture Fund III, LLC, Investment Group of Santa Barbara, LLC, Timothy K. Bliss, Maurice J. Duca, William R. Rauth III ×3 filings | Dec. 31, 2015 | — | 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 88 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 |
|---|---|---|---|---|
| GRPM · Invesco Exchange-Traded Fund Trust | 2.29% | 58,685 SH | Aug. 8, 2026 | Daily |
| PJFM · PGIM ETF Trust | 1.29% | 1,331 NS | May 29, 2026 | N-PORT |
| RSMC · Tidal Trust III | 1.14% | 51,657 NS | April 30, 2026 | N-PORT |
| XMHQ · Invesco Exchange-Traded Fund Trust | 0.76% | 215,235 SH | Aug. 8, 2026 | Daily |
| BUL · Pacer Funds Trust | 0.75% | 5,727 NS | April 30, 2026 | N-PORT |
| MCOW · Pacer Funds Trust | 0.61% | 36 NS | April 30, 2026 | N-PORT |
| RFG · Invesco Exchange-Traded Fund Trust | 0.60% | 10,797 SH | Aug. 8, 2026 | Daily |
| HOMZ · ETF Series Solutions | 0.50% | 1,057 NS | May 31, 2026 | N-PORT |
| NBSM · Neuberger Berman ETF Trust | 0.46% | 6,479 NS | May 31, 2026 | N-PORT |
| COWG · Pacer Funds Trust | 0.46% | 60,050 NS | April 30, 2026 | N-PORT |
| SMMV · iShares Trust | 0.44% | 6,637 SH | Aug. 8, 2026 | Daily |
| TMFX · RBB Fund, Inc. | 0.28% | 567 NS | May 31, 2026 | N-PORT |
| IJK · iShares Trust | 0.25% | 140,702 SH | Aug. 8, 2026 | Daily |
| SKYU · ProShares Trust | 0.24% | 54 NS | May 31, 2026 | N-PORT |
| NUSC · Nushares ETF Trust | 0.23% | 17,769 NS | April 30, 2026 | N-PORT |
| BFOR · ALPS ETF Trust | 0.21% | 2,853 NS | May 31, 2026 | N-PORT |
| VUSE · ETF Series Solutions | 0.21% | 8,959 NS | May 31, 2026 | N-PORT |
| BBSC · J.P. Morgan Exchange-Traded Fund Tr… | 0.20% | 8,873 NS | April 30, 2026 | N-PORT |
| IVOG · VANGUARD ADMIRAL FUNDS | 0.20% | 23,710 SH | Aug. 8, 2026 | Daily |
| IGV · iShares Trust | 0.16% | 117,268 SH | Aug. 8, 2026 | Daily |
| VFMV · VANGUARD WELLINGTON FUND | 0.16% | 4,232 SH | Aug. 8, 2026 | Daily |
| QLV · FlexShares Trust | 0.15% | 1,547 NS | April 30, 2026 | N-PORT |
| IQSM · New York Life Investments ETF Trust | 0.15% | 2,815 NS | April 30, 2026 | N-PORT |
| XJH · iShares Trust | 0.15% | 3,250 SH | Aug. 8, 2026 | Daily |
| ISCG · iShares Trust | 0.15% | 7,526 SH | Aug. 8, 2026 | Daily |
| QVMM · Invesco Exchange-Traded Fund Trust … | 0.14% | 3,090 SH | Aug. 8, 2026 | Daily |
| IJH · iShares Trust | 0.13% | 828,466 SH | Aug. 8, 2026 | Daily |
| IWP · iShares Trust | 0.13% | 131,711 SH | Aug. 8, 2026 | Daily |
| PTMC · Pacer Funds Trust | 0.12% | 2,792 NS | April 30, 2026 | N-PORT |
| SXQG · EXCHANGE TRADED CONCEPTS TRUST | 0.12% | 488 NS | May 31, 2026 | N-PORT |
| BKMC · BNY Mellon ETF Trust | 0.11% | 4,166 NS | April 30, 2026 | N-PORT |
| IVOO · VANGUARD ADMIRAL FUNDS | 0.11% | 38,771 SH | Aug. 8, 2026 | Daily |
| FSMD · FIDELITY COVINGTON TRUST | 0.10% | 14,732 NS | April 30, 2026 | N-PORT |
| VBK · VANGUARD INDEX FUNDS | 0.10% | 303,324 SH | Aug. 8, 2026 | Daily |
| JQUA · J.P. Morgan Exchange-Traded Fund Tr… | 0.09% | 41,389 NS | April 30, 2026 | N-PORT |
| MVV · ProShares Trust | 0.08% | 841 NS | May 31, 2026 | N-PORT |
| SCHA · SCHWAB STRATEGIC TRUST | 0.08% | 117,205 NS | May 31, 2026 | N-PORT |
| MIDU · Direxion Shares ETF Trust | 0.08% | 404 NS | April 30, 2026 | N-PORT |
| EQAL · Invesco Exchange-Traded Fund Trust … | 0.08% | 3,343 SH | Aug. 8, 2026 | Daily |
| TMFE · RBB Fund, Inc. | 0.08% | 410 NS | May 31, 2026 | N-PORT |
| DFAS · Dimensional ETF Trust | 0.07% | 60,510 NS | April 30, 2026 | N-PORT |
| ISCB · iShares Trust | 0.07% | 1,061 SH | Aug. 8, 2026 | Daily |
| ESML · iShares Trust | 0.07% | 10,617 SH | Aug. 8, 2026 | Daily |
| JMOM · J.P. Morgan Exchange-Traded Fund Tr… | 0.07% | 8,783 NS | April 30, 2026 | N-PORT |
| VFQY · VANGUARD WELLINGTON FUND | 0.06% | 1,922 SH | Aug. 8, 2026 | Daily |
| FTEC · FIDELITY COVINGTON TRUST | 0.06% | 64,145 NS | April 30, 2026 | N-PORT |
| UMDD · ProShares Trust | 0.06% | 117 NS | May 31, 2026 | N-PORT |
| SMMD · iShares Trust | 0.06% | 11,384 SH | Aug. 8, 2026 | Daily |
| VGT · VANGUARD WORLD FUND | 0.05% | 546,712 SH | Aug. 8, 2026 | Daily |
| PRFZ · Invesco Exchange-Traded Fund Trust | 0.05% | 6,887 SH | Aug. 8, 2026 | Daily |