AREC Class A American Resources Corporation - Class A Common Stock
NASDAQ · Energy · View on SEC EDGAR ↗ close Oct 2, 2026 10-K/10-Q May 20, 2026
$1.79
· of 52w range
· above low
· to high
$1.4852w low
$7.1152w high
Market Cap (MRQ)
$191M
P/E
2.8
EPS
$0.63
Revenue
$0
your badges
52W Range
$1–$7
Analyst Rating
BUY
Price Target
$6
P/E
2.8
ROE
718.3%
Net Profit Margin
·
Your badge strip is empty — pin a metric anywhere on this page.
AREC Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$1.79
Market Cap (MRQ)
$191M
P/E
2.8
EPS
$0.63
Revenue
$0
ROE
718.3%
Debt/Equity
0.0
52W Range
$1–$7
AREC Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view
range
bars
Bar granularity adapts to the selected period — hover the chart to see open/high/low/close for a bar.
10-Year Performance Revenue, net income, margins and EPS trends
Revenue$02016-12-31 → 2025-12-31
EPS$0.632023-12-31 → 2025-12-31
Free Cash Flow·2017-12-31 → 2024-12-31
Net margin·2017-12-31 → 2024-12-31
Valuation & Ratios
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
| Metric | 5Y trend | AREC | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| P/E | 2.85Y avg ≈-0.3 | ≈-0.3 | 12.9 | Undervalued | |
| P/B (MRQ) | 2.05Y avg ≈67.1 | ≈67.1 | 2.1 | Overvalued | |
| EV / EBITDA | -10.6 | · | · | · | |
| Price / Cash Flow | -18.45Y avg ≈-3.8 | ≈-3.8 | · | · | |
| Price / Tangible Book | 2.0 | · | · | · |
Peer median is calculated on a standardized basis per metric and may not always match the TTM/MRQ basis shown for this stock.
Profitability Gross, operating and net margins; ROE, ROA, ROIC
| Metric | 5Y trend | AREC | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| ROA | 24.6%5Y avg ≈-10.7% | ≈-10.7% | 10.3% | Top tier | |
| ROE | 718.3%5Y avg ≈6.7% | ≈6.7% | 4.2% | Top tier | |
| ROIC | -11.8% | · | -7.2% | Weak |
Financial Health Debt, liquidity, solvency — balance sheet strength
| Metric | 5Y trend | AREC | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Debt / Equity | 0.05Y avg ≈1.5 | ≈1.5 | · | · | |
| Current Ratio (MRQ) | 2.25Y avg ≈1.4 | ≈1.4 | 2.2 | In line | |
| Quick Ratio | 1.25Y avg ≈0.9 | ≈0.9 | 1.2 | In line | |
| Long-Term Debt / Equity (MRQ) | 0.0 | · | · | · |
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
| Metric | 5Y trend | AREC | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Revenue YoY | -99.7%5Y avg ≈217.8% | ≈217.8% | · | · | |
| Revenue CAGR 3Y | -83.6% | · | · | · |
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
| Metric | 5Y trend | AREC | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Asset Turnover | 0.05Y avg ≈0.3 | ≈0.3 | 0.2 | Weak | |
| Revenue / Employee | ≈$0.00 | · | · | · |
value · ≈ 5Y avg · industry median · verdict relative to median
Dividends Yield, payout ratio, dividend history, 5Y CAGR
| Ex-date | Amount | Currency | Yield |
|---|---|---|---|
| Aug 14, 2026 | $0.04 | USD | ≈1.5% |
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
185.1%
Next Report
Nov 12, 2026
| Period | Report | EPS Actual | EPS Est | Surprise |
|---|---|---|---|---|
| Dec. 31, 2025 | May 20, 2026 | $0.88 | $-0.10 | 1008.2% |
| Sept. 30, 2025 | $-0.07 | $-0.11 | 37.6% | |
| March 31, 2025 | $-0.08 | $-0.08 | -4.6% | |
| Dec. 31, 2024 | $-0.24 | $-0.13 | -88.2% | |
| Sept. 30, 2024 | $-0.13 | $-0.10 | -27.5% |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0 | $34.1K | $12M | $39M | $8M | $1M | $24M | $32M | $21M | $8M | $62.4K | |
| Cost of Revenue | · | · | · | $22M | $7M | $4M | $26M | $25M | $2M | · | $60.2K | |
| Gross Profit | · | · | · | · | · | · | · | · | · | · | $2.2K | |
| SG&A Expense | $10M | $11M | $11M | $4M | $4M | $2M | $5M | $6M | $-1M | $-237.6K | $113.5K | |
| Operating Expenses | $11M | $14M | $48M | $59M | $36M | $18M | $-84M | $-43M | $-33M | $-29M | $404.2K | |
| Operating Income | $-11M | $-14M | $-36M | $-19M | $-28M | $-16M | $-60M | $-11M | $-13M | $-22M | $-402.0K | |
| Interest Expense | · | $8M | $2M | $1M | $4M | $3M | $3M | $-1M | $558.8K | $283.6K | · | |
| Interest Income | · | · | · | $31.0K | $230.5K | $205.9K | $164.7K | $164.2K | $298.7K | $0 | · | |
| Other Non-op | $-61.9K | $110.1K | $170.8K | $18M | $-233.0K | $20.5K | $-84M | $-43M | · | · | · | |
| Pretax Income | $-18M | $-16M | $-562.7K | · | · | · | · | · | · | · | · | |
| Income Tax | $0 | $0 | · | · | · | · | · | · | · | · | · | |
| Net Income | $55M | $-39M | $-39M | $-1M | $-33M | $-10M | $-71M | $-13M | $-13M | $-22M | $-444.5K | |
| EPS (Diluted) | $0.63 | $-0.51 | $-0.51 | · | · | · | · | · | · | · | · | |
| Shares (Basic) | · | · | 75,422,390 | 66,777,620 | · | · | · | · | · | · | · | |
| Shares (Diluted) | 87,274,415 | 77,222,990 | 75,144,374 | · | · | · | · | · | · | · | · | |
| EBITDA | $-11M | $-32M | $-11M | $-24M | $-28M | $-16M | $-60M | $-11M | $-14M | · | · |
Balance Sheet
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $32M | $201.5K | $1M | · | $11M | $11M | $268.8K | $3M | $385.7K | $925.6K | $88.0K | |
| Short-term Investments | $40M | $587.4K | $1M | $0 | · | · | · | · | · | · | · | |
| Receivables | · | $6.7K | $0 | $660.8K | $3M | $38.6K | $2M | · | · | · | · | |
| Inventory | · | $960.0K | $130.0K | $446.7K | $0 | $150.5K | $515.6K | $163.8K | $615.1K | $0 | $4.2K | |
| Prepaid Expense | $3M | $620.0K | $2M | $786.6K | $624.6K | $175.0K | $0 | $147.8K | · | · | $2.0K | |
| Other Current Assets | · | · | · | · | · | · | · | · | · | · | $2.0K | |
| Current Assets | $134M | $93M | $38M | $13M | $15M | $11M | $3M | $4M | $3M | $4M | $644.4K | |
| PP&E (Net) | $143.1K | $228.7K | $21M | $9M | $23M | $22M | $28M | $33M | $9M | $12M | · | |
| PP&E (Gross) | · | $43M | $42M | · | $23M | · | · | · | · | · | · | |
| Accum. Depreciation | $601.7K | $478.8K | $21M | $5M | $16M | · | $11M | $7M | $4M | $2M | · | |
| Goodwill | · | · | · | · | · | · | · | · | · | · | $361.0K | |
| Other Non-current Assets | · | · | · | $45M | · | $27M | · | · | · | · | · | |
| Total Assets | $169M | $282M | $65M | $56M | $43M | $38M | $35M | $41M | $16M | $20M | $1M | |
| Accounts Payable | · | $9M | $4M | $5M | $3M | $4M | $11M | $8M | $5M | $2M | $14.4K | |
| Accrued Liabilities | $391.4K | $544.9K | $311.8K | $106.9K | $1M | $1M | $3M | $1M | $336.6K | $122.9K | · | |
| Short-term Debt | · | $44M | $44M | $0 | · | · | $20M | $14M | · | · | · | |
| Current Liabilities | $61M | $166M | $78M | $27M | $17M | $21M | $45M | $26M | $35M | $25M | $68.1K | |
| Capital Leases | $453.2K | $511.2K | $9M | $547.7K | $562.4K | · | · | · | · | · | · | |
| Other Non-current Liabilities | · | · | · | · | · | $35M | · | · | · | · | · | |
| Total Liabilities | $76M | $363M | $110M | $56M | $45M | $58M | $68M | $51M | $53M | $48M | · | |
| Long-term Debt | · | $2M | · | · | · | $14M | $0 | $8M | $5M | · | · | |
| Total Debt | $965.3K | $44M | · | $2M | $5M | · | $20M | · | $10M | · | · | |
| Common Stock | $10.7K | $7.8K | $7.6K | $6.7K | $6.5K | $4.3K | $2.7K | $1.8K | $89 | $0 | · | |
| Paid-in Capital | $305M | $186M | $182M | $168M | $163M | $113M | $90M | $43M | $2M | $88.2K | $1M | |
| Retained Earnings | $-210M | $-266M | $-225M | $-167M | $-166M | $-133M | $-123M | $-52M | $-39M | $-28M | $-513.5K | |
| Stockholders' Equity | $95M | $-79M | $-44M | $-20M | $-2M | $-20M | $-33M | $-9M | $-37M | $-26M | $1M | |
| Liabilities + Equity | $169M | $282M | $65M | $56M | $43M | $38M | $35M | $41M | $16M | $20M | $1M | |
| Shares Outstanding | 106,919,829 | 77,996,079 | 76,247,370 | 0 | 65,084,992 | 42,972,762 | 27,410,512 | 17,763,469 | 892,044 | 0 | · |
Cash Flow
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | · | · | · | $2M | $2M | $2M | $5M | · | · | · | $30.2K | |
| Stock-based Comp | $9M | $4M | $4M | · | · | · | $377.3K | $782.2K | $50.0K | $88.7K | $242.7K | |
| Deferred Tax | $16M | $-9M | · | · | · | · | · | · | · | · | · | |
| Amort. of Intangibles | · | $1M | $1M | $1M | $1M | $1M | $2M | $478.8K | · | · | · | |
| Operating Cash Flow | $-10M | $2M | $-20M | $3M | $-29M | $-14M | $-19M | $-3M | $-6M | $-6M | · | |
| CapEx | · | $1M | $4M | · | · | · | $327.2K | $133.4K | $173.4K | $34.2K | · | |
| Investing Cash Flow | · | $-125M | $-32M | $-1M | $-6M | $417.9K | $322.8K | $-10.6K | $439.6K | $431.8K | · | |
| Debt Issued | · | · | · | $3M | $0 | $28.0K | $9M | $8M | $4M | $5M | · | |
| Net Debt Issued | · | · | $-1M | $348.4K | $-562.3K | $-3M | $7M | $6M | $4M | · | · | |
| Stock Issued | $68M | $0 | · | · | · | · | $8M | · | $500.0K | · | $146.2K | |
| Net Stock Activity | $68M | · | · | · | · | · | $8M | · | $500.0K | · | $146.2K | |
| Financing Cash Flow | · | $146M | $45M | $-1M | $36M | $24M | $16M | $6M | $5M | $6M | $628.7K | |
| Net Change in Cash | · | · | · | $-2M | $1M | $11M | $-2M | $2M | $-540.0K | $784.5K | $362.0K | |
| Taxes Paid | · | · | · | · | · | $0 | $0 | · | · | · | · | |
| Free Cash Flow | · | $-22M | · | · | · | · | $-20M | $-3M | $-6M | · | · |
Profitability
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | · | · | · | · | · | · | · | · | · | · | 3.5% | |
| Operating Margin | · | -8410.3% | -68.2% | -60.8% | -365.3% | -1552.1% | -244.9% | -36.5% | -67.3% | · | · | |
| Net Margin | · | -10242.0% | 68.4% | -3.7% | -419.1% | -967.8% | -289.7% | -40.5% | -67.4% | · | -711.9% | |
| EBITDA Margin | · | -8410.3% | -68.2% | -60.8% | -365.3% | -1552.1% | -244.9% | -36.5% | -67.3% | · | · | |
| ROA | 24.6% | · | 15.5% | -2.9% | -80.0% | -27.9% | -185.2% | · | -72.8% | · | -71.7% | |
| ROE | 718.3% | · | 209.1% | 32.9% | -933.3% | 38.3% | 554.2% | · | 42.4% | · | -76.0% | |
| ROIC | -11.8% | · | · | · | · | · | · | · | · | · | · |
Liquidity & Solvency
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.2 | · | 1.9 | 0.4 | 0.9 | 0.5 | 0.1 | · | 0.1 | · | 9.5 | |
| Quick Ratio | 1.2 | · | 1.7 | 0.0 | 0.9 | 0.5 | 0.0 | · | 0.0 | · | 6.5 | |
| Debt / Equity | 0.0 | · | · | 6.7 | -2.3 | · | -0.6 | · | -0.2 | · | · | |
| LT Debt / Equity | 0.0 | · | · | · | · | · | · | · | · | · | · | |
| Interest Coverage | · | -4.0 | -8.5 | -16.8 | -6.8 | -4.9 | 20.6 | -8.9 | -25.1 | · | · |
Efficiency
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.0 | · | 0.2 | 0.8 | 0.2 | 0.0 | 0.6 | · | 1.1 | · | 0.1 | |
| Inventory Turnover | · | · | · | 97.1 | 94.2 | 11.3 | 76.8 | · | · | · | 29.0 | |
| Receivables Turnover | · | · | 50.7 | 20.6 | 4.8 | 0.9 | · | · | · | · | · |
Per Share
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Book Value / Share | $0.89 | · | $0.25 | $0.00 | $-0.04 | · | $-1.19 | · | $-44.95 | · | · | |
| Revenue / Share | $0.00 | $0.01 | · | · | · | · | · | · | · | · | · | |
| Cash Flow / Share | $-0.12 | $-0.28 | · | · | · | · | · | · | · | · | · | |
| Cash / Share | $0.30 | · | · | · | $0.18 | · | $0.01 | · | $0.21 | · | · | |
| EPS (TTM) | $0.63 | $-0.51 | $-0.51 | · | · | · | · | · | · | · | · |
Growth Rates
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue YoY | · | -99.7% | -70.0% | 409.0% | 631.9% | · | · | · | · | · | · | |
| Revenue CAGR 3Y | · | -83.6% | 123.4% | · | · | · | · | · | · | · | · |
Valuation (TTM)
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $0 | $383.2K | $12M | $39M | $8M | $1M | $24M | $32M | $21M | · | $62.4K | |
| Net Income TTM | $55M | $-39M | $-39M | $-1M | $-33M | $-10M | $-71M | $-13M | $-13M | · | $-444.5K | |
| Market Cap | $265M | · | $1M | $88M | $117M | · | $17M | · | $44.6K | · | · | |
| Enterprise Value | $194M | · | · | · | $111M | · | $37M | · | $10M | · | · | |
| P/E | 3.9 | -2.0 | -2.9 | · | · | · | · | · | · | · | · | |
| P/S | · | · | 0.1 | 2.2 | 15.1 | · | 0.7 | · | 0.0 | · | · | |
| P/B | 2.8 | · | 5.9 | 309.6 | -49.9 | · | -0.5 | · | -0.0 | · | · | |
| P / Tangible Book | 2.8 | · | · | · | · | · | · | · | · | · | · | |
| P / Cash Flow | -25.5 | · | -0.1 | 14.5 | -4.0 | · | -0.9 | · | -0.0 | · | · | |
| P / FCF | · | · | · | · | · | · | -0.9 | · | -0.0 | · | · | |
| EV / EBITDA | -17.2 | · | · | · | -3.9 | · | -0.6 | · | -0.7 | · | · | |
| EV / FCF | · | · | · | · | · | · | -1.9 | · | -1.6 | · | · | |
| EV / Revenue | · | · | · | · | 14.3 | · | 1.5 | · | 0.5 | · | · | |
| Earnings Yield | 25.4% | -50.5% | -34.2% | · | · | · | · | · | · | · | · |
Income Statement
| Metric | Trend | Q4 2025 | Q3 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 | Q2 2022 | Q1 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $-45.3K | $165 | $31.9K | $-299.5K | $235.4K | $4.1K | $94.0K | $-5M | $6M | $2M | $9M | $5M | $10M | $16M | $9M | |
| Cost of Revenue | · | $68.4K | $182.0K | · | $437.6K | · | $976.5K | · | · | · | · | · | · | $3.3K | $3M | |
| SG&A Expense | $-490.9K | $3M | $3M | $-1M | $6M | $3M | $4M | $7M | $1M | $1M | $1M | $1M | $734.5K | $903.0K | $1M | |
| Operating Expenses | $-5M | $4M | $5M | $-8M | $9M | $6M | $7M | $23M | $5M | $9M | $12M | $11M | $14M | $20M | $13M | |
| Operating Income | $5M | $-4M | $-5M | $8M | $-9M | $-6M | $-7M | $-28M | $1M | $-7M | $-3M | $-7M | $-5M | $-4M | $-4M | |
| Interest Expense | · | $2M | $2M | $5M | $2M | $418.5K | $662.7K | $944.5K | $299.8K | $167.8K | $576.0K | $457.1K | $310.7K | $274.6K | $383.7K | |
| Interest Income | · | · | · | · | · | · | · | · | · | $1.6K | $17.2K | · | · | $3.3K | $10.0K | |
| Other Non-op | $7M | $-3M | $86.6K | $2M | $-2M | $-371.3K | $96.9K | $-8M | $2M | $6M | $-465.8K | $18M | $36.2K | $76.0K | $82.2K | |
| Net Income | $78M | $-8M | $-7M | $-15M | $-11M | $-7M | $-7M | $-25M | $-2M | $-8M | $-3M | · | $-5M | $-2M | $-3M | |
| EPS (Diluted) | $0.75 | $-0.05 | $-0.08 | $-0.14 | $-0.14 | · | $-0.09 | · | · | · | · | · | · | · | · | |
| Shares (Diluted) | · | 84,305,073 | 78,952,630 | · | 77,400,289 | · | 76,374,434 | · | · | · | · | · | · | · | · | |
| EBITDA | · | $-4M | $-5M | · | $-8M | $-6M | $-6M | · | $1M | $-7M | $-3M | · | $-5M | $-4M | $-4M |
Balance Sheet
| Metric | Trend | Q4 2025 | Q3 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 | Q2 2022 | Q1 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $32M | $2M | $24.6K | $201.5K | $840.3K | $554.4K | · | $1M | · | · | · | · | $4M | $5M | $6M | |
| Short-term Investments | $40M | $0 | $0 | $587.4K | $151.3K | · | · | $1M | · | · | · | $0 | · | · | · | |
| Receivables | · | $18.2K | $37.3K | $6.7K | · | · | · | $0 | $4M | · | · | $660.8K | $6M | $5M | $3M | |
| Inventory | · | $1M | $1M | $960.0K | $2M | $2M | $130.0K | $130.0K | $2M | $711.2K | $3M | $446.7K | $730.0K | · | $1M | |
| Prepaid Expense | $3M | $1M | $1M | $620.0K | $2M | $2M | $3M | $2M | $2M | $2M | $797.1K | $786.6K | $1M | $816.1K | $2M | |
| Current Assets | $134M | $8M | $9M | $93M | $6M | $4M | $5M | $38M | $12M | $6M | $6M | $13M | $11M | $10M | $11M | |
| PP&E (Net) | $143.1K | $17M | $17M | $228.7K | $17M | $42M | $11M | $21M | $12M | $9M | $9M | $9M | $15M | $21M | $23M | |
| PP&E (Gross) | · | $44M | $43M | $43M | $17M | · | · | $42M | · | · | · | · | · | $23M | · | |
| Accum. Depreciation | $601.7K | $27M | $26M | $478.8K | $24M | $23M | $7M | $21M | $6M | $6M | $319.2K | $5M | $13M | · | · | |
| Other Non-current Assets | · | · | · | · | · | · | · | · | $91M | $94M | $44M | · | · | · | · | |
| Total Assets | $169M | $202M | $204M | $282M | $212M | $196M | $216M | $65M | $103M | $100M | $49M | $56M | $37M | $38M | $39M | |
| Accounts Payable | · | $5M | $9M | $9M | · | · | · | $4M | $4M | · | · | · | $3M | · | · | |
| Accrued Liabilities | $391.4K | $392.3K | $549.4K | $544.9K | $514.8K | $495.9K | $146.1K | $311.8K | $142.9K | $142.9K | $110.7K | $106.9K | $42.0K | $38.2K | $1M | |
| Short-term Debt | · | · | · | $44M | $0 | $0 | $0 | $44M | · | $43M | · | · | · | · | · | |
| Current Liabilities | $61M | $85M | $86M | $166M | $25M | $19M | $16M | $78M | $16M | $16M | $22M | $27M | $21M | $10M | $22M | |
| Capital Leases | $453.2K | $10M | $6M | $511.2K | $703.9K | $612.0K | $480.0K | $9M | $8M | $9M | $7M | $547.7K | $567.7K | $591.1K | · | |
| Total Liabilities | $76M | $297M | $289M | $363M | $266M | $241M | $236M | $110M | $88M | $89M | $42M | $56M | $46M | $42M | $42M | |
| Long-term Debt | · | $2M | · | $2M | · | · | · | · | · | · | · | · | · | · | · | |
| Total Debt | · | $2M | $2M | · | $804.7K | $804.7K | $0 | · | · | $43M | $839.7K | · | · | · | $4M | |
| Common Stock | $10.7K | $8.5K | $8.0K | $7.8K | $7.7K | $7.7K | $7.7K | $7.6K | $7.6K | $7.6K | $7.6K | $6.7K | $6.7K | $6.7K | $6.6K | |
| Paid-in Capital | $305M | $195M | $188M | $186M | $183M | $182M | $165M | $182M | $179M | $178M | $178M | $168M | $167M | $166M | $165M | |
| Retained Earnings | $-210M | $-276M | $-273M | $-266M | $-235M | $-226M | $-185M | $-225M | $-164M | $-167M | $-170M | $-167M | $-176M | $-171M | $-169M | |
| Stockholders' Equity | $95M | $-81M | $-84M | $-79M | $-52M | $-44M | $-20M | $-44M | $15M | $11M | $7M | $284.7K | $-9M | $-5M | $-4M | |
| Liabilities + Equity | $169M | $202M | $204M | $282M | $213M | $196M | $216M | $65M | $103M | $100M | $49M | $56M | $37M | $38M | $39M | |
| Shares Outstanding | 106,919,829 | 85,976,023 | 80,491,849 | 77,996,079 | 76,247,370 | 77,400,289 | 77,296,990 | 76,247,370 | 66,860,522 | 76,197,850 | 76,197,850 | 0 | 66,860,522 | 66,613,085 | 66,156,417 |
Cash Flow
| Metric | Trend | Q4 2025 | Q3 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 | Q2 2022 | Q1 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | · | · | $550.6K | · | · | · | $32.5K | · | · | · | $13.3K | · | $602.5K | $630.3K | $393.5K | |
| Stock-based Comp | $7M | · | $518.6K | $877.3K | · | · | $986.1K | $3M | $376.6K | · | $376.6K | · | $190.0K | · | · | |
| Amort. of Intangibles | · | $303.9K | $303.9K | $309.0K | $308.0K | $311.7K | $307.3K | $293.5K | $311.7K | $311.7K | $305.9K | $311.7K | $311.7K | $311.7K | $303.4K | |
| Other Non-cash | · | · | · | · | · | · | $-15M | · | · | · | · | · | · | · | $-3M | |
| Operating Cash Flow | $-994.7K | · | $-1M | $20M | $-4M | $-5M | $-5M | $-14M | $41.5K | $725.5K | $-7M | $14M | $-4M | $-2M | $-6M | |
| CapEx | · | · | · | $892.8K | $-482.6K | · | · | $82.2K | $4M | $-508.9K | $508.9K | · | · | · | $724.9K | |
| Investing Cash Flow | · | · | $152M | $-5M | $-120M | $-4M | $-144M | $-30M | $-3M | $205.8K | $967.3K | $-5M | $4M | $-137.5K | $-792.0K | |
| Debt Issued | · | · | $45M | · | · | · | · | · | · | · | · | · | · | · | · | |
| Net Debt Issued | · | · | $45M | · | · | · | · | · | · | · | · | · | · | · | $-39.6K | |
| Stock Issued | · | · | · | · | · | · | · | · | · | · | · | · | $0 | $0 | $0 | |
| Net Stock Activity | · | · | · | · | · | · | · | · | · | · | · | · | · | · | $0 | |
| Financing Cash Flow | · | · | $76.8K | $614.0K | $-1M | $-476.0K | $148M | $364.5K | $-287.1K | $47M | $-2M | $-2M | $-514.7K | $945.8K | $241.3K | |
| Net Change in Cash | · | · | · | · | · | · | · | · | · | $49M | $-9M | · | · | $-1M | $-6M | |
| Free Cash Flow | · | · | · | · | · | · | · | · | · | · | $-8M | · | · | · | · |
Profitability
| Metric | Trend | Q4 2025 | Q3 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 | Q2 2022 | Q1 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | · | -2656743.0% | -15608.8% | · | -3507.6% | -152122.5% | -6662.7% | · | 18.7% | -354.9% | -29.7% | · | -48.7% | -25.5% | -43.9% | |
| Net Margin | · | -4667098.8% | -20847.7% | · | -3917.0% | -161190.5% | 6622.0% | · | 59.8% | -50.5% | · | · | -55.0% | -15.1% | -30.3% | |
| EBITDA Margin | · | -2656743.0% | -15608.8% | · | -3507.6% | -152122.5% | -6628.1% | · | 18.7% | -354.9% | -29.7% | · | -48.7% | -21.6% | -39.5% | |
| ROA | · | -3.7% | -3.2% | · | -5.9% | -4.5% | 4.7% | · | 5.0% | -1.5% | · | · | -11.7% | -5.1% | -7.2% | |
| ROE | · | 11.6% | 12.8% | · | 49.7% | 39.6% | -100.0% | · | 122.5% | -33.1% | · | · | 167.5% | -106.0% | 34.4% |
Liquidity & Solvency
| Metric | Trend | Q4 2025 | Q3 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 | Q2 2022 | Q1 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | · | 0.1 | 0.1 | · | 0.2 | 0.2 | 0.3 | · | 0.8 | 0.4 | 0.3 | · | 0.5 | 1.0 | 0.5 | |
| Quick Ratio | · | 0.0 | 0.0 | · | 0.0 | 0.0 | · | · | 0.3 | · | · | · | 0.5 | 1.0 | 0.4 | |
| Debt / Equity | · | -0.0 | -0.0 | · | -0.0 | -0.0 | 0.0 | · | · | 4.0 | 0.1 | · | · | · | -1.0 | |
| LT Debt / Equity | · | -0.0 | · | · | · | · | · | · | · | · | · | · | · | · | · | |
| Interest Coverage | · | -2.2 | -2.8 | · | -10.7 | -14.9 | -25.1 | · | 3.6 | -41.9 | -4.6 | · | · | -15.0 | -10.4 |
Efficiency
| Metric | Trend | Q4 2025 | Q3 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 | Q2 2022 | Q1 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | · | 0.0 | 0.0 | · | 0.0 | 0.0 | 0.0 | · | 0.1 | 0.0 | 0.2 | · | 0.2 | 0.3 | 0.2 | |
| Inventory Turnover | · | 0.0 | 0.3 | · | · | · | · | · | · | · | · | · | · | · | 4.2 | |
| Receivables Turnover | · | 0.0 | 0.0 | · | · | · | · | · | 1.2 | · | · | · | 2.4 | 5.7 | 6.4 |
Per Share
| Metric | Trend | Q4 2025 | Q3 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 | Q2 2022 | Q1 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Book Value / Share | · | $-0.94 | $-1.04 | · | $-0.68 | $-0.57 | $-0.26 | · | $0.22 | $0.14 | $0.10 | · | $-0.13 | $-0.07 | $-0.06 | |
| Revenue / Share | · | $0.00 | $0.00 | · | · | · | · | · | · | · | · | · | · | · | · | |
| Cash Flow / Share | · | · | $-0.02 | · | · | · | · | · | · | · | · | · | · | · | · | |
| Cash / Share | · | $0.02 | $0.00 | · | $0.01 | $0.01 | · | · | · | · | · | · | $0.06 | $0.07 | $0.10 |
Valuation (TTM)
| Metric | Trend | Q4 2025 | Q3 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 | Q2 2022 | Q1 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | · | · | $-28.0K | · | $-5M | $1M | $3M | · | $21M | $25M | $39M | · | $39M | $33M | $17M | |
| Net Income TTM | · | · | $-39M | · | $-49M | $-41M | $-43M | · | · | · | · | · | $-21M | $-25M | $-29M | |
| Market Cap | · | $232M | $38M | · | $69M | $57M | $109M | · | $112M | $149M | $114M | · | $179M | $97M | $170M | |
| Enterprise Value | · | $233M | $40M | · | $69M | $57M | · | · | · | · | · | · | · | · | $167M | |
| P/S | · | · | -1341.4 | · | -15.3 | 52.8 | 35.8 | · | 5.2 | 6.0 | 2.9 | · | 4.5 | 3.0 | 10.1 | |
| P/B | · | -2.9 | -0.4 | · | -1.3 | -1.3 | -5.5 | · | 7.6 | 13.9 | 15.6 | · | -19.8 | -20.6 | -46.6 | |
| P / Tangible Book | · | · | · | · | · | · | · | · | 7.6 | 13.9 | 15.6 | · | · | · | · | |
| P / Cash Flow | · | · | -26.2 | · | · | · | -13.4 | · | · | · | -15.6 | · | · | · | -29.7 | |
| EV / Revenue | · | · | -1414.7 | · | -15.3 | 53.1 | · | · | · | · | · | · | · | · | 10.0 |
Most recent period on the left · null values shown as ·
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Revenue | $0 | $34.1K | $12M | $39M | $8M |
| Operating Margin % | · | -8410.3% | -68.2% | -60.8% | -365.3% |
| Net Income | $55M | $-39M | $-39M | $-1M | $-33M |
| Diluted EPS | $0.63 | $-0.51 | $-0.51 | · | · |
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Debt / Equity | 0.0 | · | · | 6.7 | -2.3 |
| Current Ratio | 2.2 | · | 1.9 | 0.4 | 0.9 |
| Quick Ratio | 1.2 | · | 1.7 | 0.0 | 0.9 |
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Free Cash Flow | · | $-22M | · | · | · |
Institutional owners (13F) 110 filers · $72.9M 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.
Holders
110
Value held
$72.9M
New positions
43
Exited positions
33
Institutional activity — Q2 2026 vs prior quarter
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 43 (+10 vs prior Q) | 33 (+12 vs prior Q) | 25 (-5 vs prior Q) | 21 (+5 vs prior Q) | -4.3M |
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 |
|---|---|---|---|---|
| BlackRock, Inc. | $14,758,580 | 6,864,456 | 20.26% | Shares |
| VANGUARD GROUP INC | $10,194,303 | 4,110,606 | 13.99% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $9,227,435 | 4,291,830 | 12.67% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $4,593,934 | 2,136,179 | 6.31% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $3,858,917 | 1,794,845 | 5.30% | Shares |
| CITIGROUP INC | $2,909,098 | 1,353,069 | 3.99% | Shares |
| UBS Group AG | $2,644,900 | 1,230,186 | 3.63% | Shares |
| CITADEL ADVISORS LLC | $2,400,034 | 1,116,295 | 3.29% | Shares |
| STATE STREET CORP | $2,059,102 | 957,722 | 2.83% | Shares |
| NORTHERN TRUST CORP | $1,436,284 | 668,039 | 1.97% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $1,284,619 | 597,497 | 1.76% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $1,229,155 | 571,700 | 1.69% | Put option |
| VANGUARD FIDUCIARY TRUST CO | $1,171,643 | 544,950 | 1.61% | Shares |
| MORGAN STANLEY | $1,139,640 | 530,065 | 1.56% | Shares |
| CITADEL ADVISORS LLC | $983,195 | 457,300 | 1.35% | Call option |
| TWO SIGMA INVESTMENTS, LP | $866,183 | 402,876 | 1.19% | Shares |
| PEAK6 LLC | $673,872 | 313,429 | 0.93% | Shares |
| AMERICAN CENTURY COMPANIES INC | $616,964 | 286,960 | 0.85% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $563,706 | 262,189 | 0.77% | Shares |
| MILLENNIUM MANAGEMENT LLC | $562,752 | 261,745 | 0.77% | Shares |
| JANE STREET GROUP, LLC | $535,780 | 249,200 | 0.74% | Call option |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $531,265 | 247,100 | 0.73% | Call option |
| Connor, Clark & Lunn Investment Management Ltd. | $528,350 | 245,744 | 0.73% | Shares |
| CITADEL ADVISORS LLC | $495,145 | 230,300 | 0.68% | Put option |
| GOLDMAN SACHS GROUP INC | $477,952 | 222,303 | 0.66% | Shares |
| BARCLAYS PLC | $473,455 | 220,211 | 0.65% | Shares |
| Bank of New York Mellon Corp | $462,091 | 214,926 | 0.63% | Shares |
| CWM, LLC | $384,942 | 159,067 | 0.53% | Shares |
| BANK OF AMERICA CORP /DE/ | $340,844 | 158,532 | 0.47% | Shares |
| WOLVERINE TRADING, LLC | $301,602 | 100,200 | 0.41% | Call option |
| IMC-Chicago, LLC | $286,490 | 133,251 | 0.39% | Shares |
| Kingsbury Capital Investment Advisors LLC | $254,115 | 118,193 | 0.35% | Shares |
| KMT WEALTH MANAGEMENT, LLC | $254,115 | 118,193 | 0.35% | Shares |
| Nuveen, LLC | $253,098 | 117,720 | 0.35% | Shares |
| WOLVERINE TRADING, LLC | $215,817 | 71,700 | 0.30% | Put option |
| Verition Fund Management LLC | $215,000 | 100,000 | 0.30% | Shares |
| RHUMBLINE ADVISERS | $200,064 | 93,056 | 0.27% | Shares |
| WEALTH ENHANCEMENT ADVISORY SERVICES, LLC | $194,726 | 108,181 | 0.27% | Shares |
| DEUTSCHE BANK AG\ | $186,194 | 86,602 | 0.26% | Shares |
| SIMPLEX TRADING, LLC | $183,655 | 85,421 | 0.25% | Shares |
| Planning Center, Inc. | $169,738 | 78,948 | 0.23% | Shares |
| WELLS FARGO & COMPANY/MN | $159,696 | 74,277 | 0.22% | Shares |
| ALLIANCEBERNSTEIN L.P. | $138,460 | 64,400 | 0.19% | Shares |
| State of Tennessee, Department of Treasury | $131,712 | 61,261 | 0.18% | Shares |
| XTX Topco Ltd | $122,799 | 57,116 | 0.17% | Shares |
| MetLife Investment Management, LLC | $117,390 | 54,600 | 0.16% | Shares |
| NOVARE CAPITAL MANAGEMENT LLC | $107,500 | 50,000 | 0.15% | Shares |
| Invesco Ltd. | $99,210 | 46,144 | 0.14% | Shares |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. | $87,804 | 40,839 | 0.12% | Shares |
| WOLVERINE TRADING, LLC | $83,970 | 27,897 | 0.12% | Shares |
Activists & 5%+ owners 2 positions
Investors who filed SEC Schedule 13D — beneficial ownership above 5% with an intent to influence the issuer (activist stakes, board campaigns, M&A). Each row shows the most recent known state of that filer's position.
| Filer | Filed | Stake | Status | Purpose | Filing |
|---|---|---|---|---|---|
| Midwest General Investment Company LLC | Aug. 28, 2023 | · | Initial filing | Passive investment | SEC |
| White River Ventures LLC | Aug. 28, 2023 | · | Initial filing | Passive investment | SEC |
Purpose is an automated classification of the filer's own stated purpose (SEC Item 4) — not investment advice. "—" means no clear purpose was stated or the text could not be classified.
Company insiders 11 insiders · 6 officers · 8 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Mark C. Jensen | Chief Executive Officer | Aug. 15, 2023 G | 5,199,896 | 0 | 0 | $0 |
| Indrajith Andrew Weeraratne | Chief Executive Officer | Sept. 28, 2015 A | 4,330,468 | 0 | 0 | $0 |
| Kirk Patrick Taylor | Chief Financial Officer | June 15, 2023 P | 1,624,883 | 0 | 0 | $0 |
| Thomas M. Sauve | President | Aug. 15, 2023 G | 4,429,501 | 0 | 0 | $0 |
| Eugene Nichols | President | Sept. 28, 2015 A | 1,172,392 | 0 | 0 | $0 |
| Tarlis Thompson | Chief Operating Officer | Dec. 16, 2021 A | 163,170 | 0 | 0 | $0 |
| Michael G. Layman | Director | Dec. 16, 2021 P | 168,782 | 0 | 0 | $0 |
| Courtenay O. Taplin | Director | Dec. 13, 2021 A | · | 0 | 0 | $0 |
| Bo G Engberg | Director | Sept. 28, 2015 A | 574,478 | 0 | 0 | $0 |
| James C New | Director | Sept. 28, 2015 A | 796,799 | 0 | 0 | $0 |
| GOLDEN PROPERTIES LTD. | 10% owner | Nov. 10, 2025 S | 9,781,987 | 0 | 138 | $-12,960,363 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
ETF ownership Held by 9 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 |
|---|---|---|---|---|
| IWC · iShares Trust | 0.05% | 302,518 SH | Sept. 11, 2026 | Daily |
| VTWO · VANGUARD SCOTTSDALE FUNDS | 0.01% | 512,733 SH | Aug. 19, 2026 | Daily |
| VTWV · VANGUARD SCOTTSDALE FUNDS | 0.01% | 77,168 SH | Aug. 19, 2026 | Daily |
| IWM · iShares Trust | 0.01% | 2,323,628 SH | Sept. 11, 2026 | Daily |
| RSSL · Global X Funds | 0.01% | 42,364 NS | July 31, 2026 | N-PORT |
| VXF · VANGUARD INDEX FUNDS | 0.00% | 963,960 SH | Aug. 19, 2026 | Daily |
| VTI · VANGUARD INDEX FUNDS | 0.00% | 3,231,057 SH | Aug. 19, 2026 | Daily |
| VTHR · VANGUARD SCOTTSDALE FUNDS | 0.00% | 7,596 SH | Aug. 19, 2026 | Daily |
| IWN · iShares Trust | · | 803,376 SH | Sept. 11, 2026 | Daily |
AREC Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
rating · 9 analysts
BUY
Median target
$5.00
+179.3%
3 33.3%
Strong Buy
5 55.6%
Buy
1 11.1%
Hold
0 0.0%
Sell
0 0.0%
Strong Sell
12-Month Price Target
3 analysts · 2026-10-04Mean target $5.67 +216.6%
← Below all targets
Current price $1.79
Low$5.00
Mean$5.67
High$7.00
Peer comparison (GICS sub-industry) Key metrics vs sector peers
FY basis, prices as of each company's last fiscal year-end close.
My Metrics Your personal watchlist — selected rows from Full Fundamentals
Pick the metrics that matter to you — click the + next to any row in Full Fundamentals above.
Your selection is saved and follows you across all tickers.
Source: SEC 10-K filed May 20, 2026