AUPH Aurinia Pharmaceuticals Inc - Common Shares
$15.58
Price · Aug 19, 2026
Fundamentals as of Aug 6, 2026
52W Range
$10–$19
59% of range
Analyst Rating
BUY
13 analysts
Price Target
$17
+9% upside
P/E (TTM)
7.4
ROE
62.7%
Net Profit Margin
101.5%
AUPH Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$15.57
Market Cap
$2.04B
P/E (TTM)
7.4
EPS (TTM)
$2.07
Revenue (TTM)
$283M
Div Yield
—
ROE
62.7%
Debt/Equity
—
52W Range
$10 – $19
AUPH 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
$283M
2018-12-31
→
2025-12-31
EPS
$2.07
2019-12-31
→
2025-12-31
Free Cash Flow
—
Margins
101.5%
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Metric
5Y trend
AUPH
Peer Median
P/E (TTM)
7.4
6.7
P/S (TTM)
7.2
39.8
P/B
3.5
4.8
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Metric
5Y trend
AUPH
Peer Median
Operating Margin
37.1%
—
Net Profit Margin
101.5%
-220.1%
ROA
44.1%
-35.0%
ROE
62.7%
-43.2%
ROIC
45.4%
—
Financial Health Debt, liquidity, solvency — balance sheet strength
Metric
5Y trend
AUPH
Peer Median
Current Ratio
5.2
9.7
Quick Ratio
0.9
—
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Metric
5Y trend
AUPH
Peer Median
Revenue YoY
20.4%
—
Revenue CAGR 3Y
28.3%
—
Revenue CAGR 5Y
41.4%
—
EPS YoY
5075.0%
—
Net Income YoY
4893.1%
—
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
Metric
5Y trend
AUPH
Peer Median
AUPH Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
BUY
13 analysts
- Strong Buy 3 23.1%
- Buy 6 46.2%
- Hold 4 30.8%
- Sell 0 0.0%
- Strong Sell 0 0.0%
12-Month Price Target
7 analysts · 2026-08-14
Median
$17.00
Now
$15.57
Low
$15.00
High
$20.00
Median target
$17.00
+9.1%
Mean target
$17.00
+9.1%
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
0.04%
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| June 30, 2026 | $0.28 | $0.24 | 0.04% |
| March 31, 2026 | $0.25 | $0.20 | 0.05% |
| Dec. 31, 2025 | $0.26 | $0.22 | 0.04% |
| Sept. 30, 2025 | $0.23 | $0.16 | 0.07% |
| June 30, 2025 | $0.16 | $0.15 | 0.01% |
| March 31, 2025 | $0.16 | $0.10 | 0.06% |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| AUPH | $2.11B | 7.7 | 20.4% | 101.5% | 62.7% | — |
| XENE | $3.59B | -10.3 | — | -4612.1% | -56.9% | — |
| ABUS | $926M | -28.3 | 128.2% | -237.9% | -42.0% | — |
| ZYME | $1.97B | -24.4 | 38.9% | -76.6% | -26.9% | — |
| ACOG | $141M | -5.5 | — | -202.2% | -43.8% | — |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement 16
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $283M | $235M | $176M | $134M | $46M | $50M | $318.0K | |
| Cost of Revenue | $33M | $28M | $14M | $6M | $1M | $0 | $0 | |
| R&D Expense | $33M | $21M | $50M | $45M | $51M | $50M | $53M | |
| SG&A Expense | $102M | $172M | $195M | $196M | $174M | $97M | $22M | |
| Operating Expenses | $178M | $240M | $267M | · | · | $154M | $91M | |
| Operating Income | $105M | $-5M | $-92M | $-111M | $-181M | $-104M | $-91M | |
| Interest Expense | · | · | $3M | $0 | $0 | · | · | |
| Interest Income | $14M | $17M | $17M | $5M | · | · | · | |
| Pretax Income | $114M | $7M | $-77M | $-106M | $-180M | $-103M | $-88M | |
| Income Tax | $-173M | $2M | $551.0K | $2M | $760.0K | $-94.0K | $144.0K | |
| Net Income | $287M | $6M | $-78M | $-108M | $-181M | $-103M | $-88M | |
| EPS (Basic) | $2.14 | $0.04 | $-0.54 | $-0.76 | $-1.40 | $-0.87 | $-0.95 | |
| EPS (Diluted) | $2.07 | $0.04 | $-0.54 | $-0.76 | $-1.40 | $-0.87 | $-0.95 | |
| Shares (Basic) | 134,367,000 | 143,057,000 | 143,236,000 | 141,915,000 | 129,369,000 | 118,473,000 | · | |
| Shares (Diluted) | 138,700,000 | 146,194,000 | 143,236,000 | 141,915,000 | 129,369,000 | 118,473,000 | · | |
| EBITDA | $124M | $15M | · | $-109M | $-181M | · | · |
Balance Sheet 23
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $80M | $83M | $49M | $94M | $232M | $272M | $306M | |
| Inventory | $46M | $39M | $40M | $25M | $19M | $14M | $0 | |
| Prepaid Expense | · | · | $9M | $14M | $12M | $7M | $9M | |
| Other Current Assets | $1M | $1M | $1M | $1M | $796.0K | $1M | · | |
| Current Assets | $492M | $447M | $425M | $443M | $513M | $419M | $315M | |
| PP&E (Net) | $2M | $3M | $3M | $4M | $4M | $5M | $93.0K | |
| PP&E (Gross) | $5M | $5M | $5M | $5M | $5M | $5M | $250.0K | |
| Accum. Depreciation | $3M | $3M | $2M | $1M | $836.0K | $179.0K | $157.0K | |
| Intangibles | $4M | $4M | $5M | $6M | $8M | $9M | $9M | |
| Other Non-current Assets | $93.0K | $823.0K | $2M | $13M | $12M | $247.0K | $209.0K | |
| Total Assets | $752M | $551M | $548M | $471M | $543M | $464M | $324M | |
| Accounts Payable | $3M | $5M | $4M | $40M | $35M | $25M | $11M | |
| Accrued Liabilities | $67M | $65M | $50M | · | · | · | · | |
| Current Liabilities | $94M | $98M | $77M | $46M | $41M | $32M | $11M | |
| Capital Leases | $5M | $6M | $7M | $7M | $8M | $8M | $0 | |
| Deferred Tax | $0 | · | · | · | · | · | · | |
| Other Non-current Liabilities | $7M | $9M | $11M | $12M | $16M | $16M | $6M | |
| Total Liabilities | $170M | $173M | $170M | $65M | $64M | $56M | $26M | |
| Retained Earnings | $-649M | $-937M | $-942M | $-864M | $-756M | $-575M | $-472M | |
| AOCI | $-599.0K | $-647.0K | $-730.0K | $-1M | $-852.0K | $-805.0K | $-805.0K | |
| Stockholders' Equity | $581M | $377M | $378M | $405M | $479M | $408M | $299M | |
| Liabilities + Equity | $752M | $551M | $548M | $471M | $543M | $464M | $324M | |
| Shares Outstanding | 132,323,000 | 140,883,000 | 143,833,000 | 142,268,000 | 141,600,000 | 126,725,000 | 111,798,000 |
Cash Flow 13
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| D&A | $19M | $19M | $12M | $3M | $3M | $1M | · | |
| Stock-based Comp | $15M | $32M | $45M | $32M | $31M | $17M | $7M | |
| Deferred Tax | $-176M | $0 | $0 | $0 | $0 | $0 | $0 | |
| Amort. of Intangibles | $800.0K | $900.0K | $2M | $2M | $2M | $1M | $1M | |
| Other Non-cash | $-9M | $-12M | · | $-6M | · | · | · | |
| Operating Cash Flow | $136M | $44M | $-33M | $-80M | $-158M | $-70M | $-64M | |
| Investing Cash Flow | $-33M | $39M | $-7M | $-61M | $-104M | $-158M | $8M | |
| Stock Issued | $756.0K | $1M | $2M | $2M | $197M | $188M | $223M | |
| Stock Repurchased | $98M | $40M | $0 | $0 | · | · | · | |
| Net Stock Activity | $-97M | $-39M | · | $0 | $197M | · | · | |
| Financing Cash Flow | $-106M | $-49M | $-5M | $2M | $221M | $194M | $244M | |
| Net Change in Cash | $-3M | $35M | $-45M | $-138M | $-40M | $-34M | $188M | |
| Taxes Paid | $3M | $2M | $496.0K | $2M | · | · | · |
Profitability 7
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Operating Margin | 37.1% | -2.0% | · | -83.2% | -396.3% | · | · | |
| Net Margin | 101.5% | 2.5% | · | -80.7% | -396.8% | · | · | |
| Pretax Margin | 40.3% | 3.2% | · | -79.3% | -395.1% | · | · | |
| EBITDA Margin | 43.9% | 6.3% | · | -81.2% | -396.3% | · | · | |
| ROA | 44.1% | 1.1% | · | -21.3% | -35.9% | · | · | |
| ROE | 62.7% | 1.5% | · | -26.1% | -46.6% | · | · | |
| ROIC | 45.4% | -0.96% | · | -28.0% | -37.9% | · | · |
Liquidity & Solvency 2
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Current Ratio | 5.2 | 4.6 | · | 9.6 | 12.6 | · | · | |
| Quick Ratio | 0.9 | 0.9 | · | 2.0 | 5.7 | · | · |
Efficiency 2
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.4 | 0.4 | · | 0.3 | 0.1 | · | · | |
| Inventory Turnover | 0.8 | 0.7 | · | 0.3 | 0.1 | · | · |
Growth Rates 5
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Revenue YoY | 20.4% | 34.0% | 30.9% | 193.9% | -9.0% | · | · | |
| Revenue CAGR 3Y | 28.3% | 72.8% | 51.9% | · | · | · | · | |
| Revenue CAGR 5Y | 41.4% | · | · | · | · | · | · | |
| EPS YoY | 5075.0% | · | · | · | · | · | · | |
| Net Income YoY | 4893.1% | · | · | · | · | · | · |
Valuation (TTM) 9
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $283M | $235M | $176M | $134M | $46M | $50M | · | |
| Net Income TTM | $287M | $6M | $-78M | $-108M | $-181M | $-103M | · | |
| Market Cap | $2.11B | $1.27B | · | $615M | $3.24B | · | · | |
| P/E | 7.7 | 224.5 | -16.6 | -5.7 | -16.3 | -15.9 | · | |
| P/S | 7.5 | 5.4 | · | 4.6 | 71.0 | · | · | |
| P/B | 3.6 | 3.4 | · | 1.5 | 6.8 | · | · | |
| P / Tangible Book | 3.7 | 3.4 | 3.5 | 1.5 | 6.9 | 4.4 | · | |
| P / Cash Flow | 15.6 | 28.5 | · | -7.7 | -20.5 | · | · | |
| Earnings Yield | 13.0% | 0.45% | -6.0% | -17.6% | -6.1% | -6.3% | · |
Income Statement 16
| 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 | $83M | $78M | $77M | $73M | $70M | $62M | $60M | $68M | $57M | $50M | $45M | $55M | $41M | $34M | $28M | $56M | |
| Cost of Revenue | $7M | $7M | $9M | $8M | $7M | $9M | $6M | $6M | $9M | $8M | $5M | $7M | $2M | $421.0K | $1M | $2M | |
| R&D Expense | $13M | $7M | $11M | $8M | $7M | $6M | $8M | $3M | $4M | $6M | $10M | $14M | $13M | $13M | $10M | $11M | |
| SG&A Expense | $24M | $22M | $29M | $26M | $26M | $20M | $37M | $42M | $45M | $48M | $50M | $48M | $47M | $50M | $47M | $52M | |
| Operating Expenses | $37M | $36M | $44M | $44M | $50M | $41M | $62M | $56M | $59M | $64M | $75M | $71M | $58M | $64M | $57M | $65M | |
| Operating Income | $46M | $41M | $33M | $30M | $20M | $22M | $-2M | $12M | $-2M | $-13M | $-30M | $-16M | $-16M | $-30M | $-28M | $-9M | |
| Interest Expense | · | · | · | · | · | · | · | · | $1M | $1M | · | $1M | $65.0K | $0 | · | $0 | |
| Interest Income | $3M | $4M | $3M | $3M | $3M | $4M | $4M | $4M | $4M | $5M | $5M | $5M | · | · | · | · | |
| Pretax Income | $49M | $44M | $36M | $32M | $22M | $24M | $1M | $15M | $1M | $-10M | $-26M | $-13M | $-12M | $-26M | $-25M | $-8M | |
| Income Tax | $11M | $10M | $-175M | $411.0K | $643.0K | $1M | $-256.0K | $457.0K | $756.0K | $739.0K | $459.0K | $298.0K | $-642.0K | $436.0K | $855.0K | $954.0K | |
| Net Income | $37M | $34M | $211M | $32M | $22M | $23M | $1M | $14M | $722.0K | $-11M | $-27M | $-13M | $-11M | $-26M | $-26M | $-9M | |
| EPS (Basic) | $0.29 | $0.26 | $1.60 | $0.24 | $0.16 | $0.17 | $0.01 | $0.10 | $0.01 | $-0.07 | $-0.19 | $-0.09 | $-0.08 | $-0.18 | $-0.18 | $-0.06 | |
| EPS (Diluted) | $0.28 | $0.25 | $1.53 | $0.23 | $0.16 | $0.16 | $0.01 | $0.10 | $0.01 | $-0.07 | $-0.19 | $-0.09 | $-0.08 | $-0.18 | $-0.18 | $-0.06 | |
| Shares (Basic) | 130,081,000 | 132,375,000 | -271,231,000 | 131,808,000 | 134,873,000 | 138,917,000 | -287,334,000 | 143,051,000 | 143,327,000 | 144,013,000 | -285,029,000 | 142,847,000 | 142,777,000 | 142,641,000 | -283,342,000 | 141,856,000 | |
| Shares (Diluted) | 133,530,000 | 137,639,000 | -278,033,000 | 136,008,000 | 137,526,000 | 143,199,000 | -287,580,000 | 145,651,000 | 144,110,000 | 144,013,000 | -285,029,000 | 142,847,000 | 142,777,000 | 142,641,000 | -283,342,000 | 141,856,000 | |
| EBITDA | $46M | $46M | · | $30M | $20M | $27M | · | $12M | $-2M | $-13M | · | $-16M | $-16M | $-30M | · | $-9M |
Balance Sheet 23
| 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 | $180M | $41M | $80M | $73M | $53M | $66M | $83M | $37M | $33M | $64M | $49M | $46M | $81M | $88M | $94M | $85M | |
| Inventory | $45M | $46M | $46M | $45M | $47M | $46M | $39M | $39M | $39M | $40M | · | $33M | $33M | $32M | · | $25M | |
| Prepaid Expense | · | · | · | · | · | · | · | · | $8M | $8M | · | $16M | $11M | $10M | · | $12M | |
| Other Current Assets | $1M | $2M | $1M | $301.0K | $665.0K | $781.0K | $1M | $3M | $7M | $2M | · | $2M | $1M | $1M | · | $4M | |
| Current Assets | $541M | $480M | $492M | $439M | $409M | $406M | $447M | $440M | $410M | $398M | · | $426M | $416M | $424M | · | $460M | |
| PP&E (Net) | $2M | $2M | $2M | $2M | $2M | $3M | $3M | $3M | $3M | $3M | · | $3M | $4M | $4M | · | $4M | |
| PP&E (Gross) | $5M | $5M | $5M | $5M | $5M | $5M | $5M | $5M | $5M | $5M | · | $5M | $5M | $5M | · | $5M | |
| Accum. Depreciation | $3M | $3M | $3M | $3M | $3M | $3M | $3M | $2M | $2M | $2M | · | $2M | $2M | $1M | · | $1M | |
| Intangibles | $3M | $4M | $4M | $4M | $4M | $4M | $4M | $5M | $5M | $5M | · | $5M | $6M | $6M | · | $7M | |
| Other Non-current Assets | $93.0K | $93.0K | $93.0K | $93.0K | $93.0K | $823.0K | $823.0K | $868.0K | $867.0K | $2M | · | $2M | $2M | $13M | · | $13M | |
| Total Assets | $792M | $724M | $752M | $528M | $503M | $505M | $551M | $549M | $524M | $517M | · | $555M | $549M | $452M | · | $488M | |
| Accounts Payable | $2M | $3M | $3M | $2M | $3M | $4M | $5M | $57M | $56M | $50M | · | $52M | $41M | $36M | · | $40M | |
| Accrued Liabilities | $64M | $58M | $67M | $50M | $50M | $42M | $65M | · | · | · | · | · | · | · | · | · | |
| Current Liabilities | $100M | $87M | $94M | $76M | $78M | $68M | $98M | $79M | $77M | $71M | · | $74M | $62M | $42M | · | $42M | |
| Capital Leases | $2M | $2M | $5M | $5M | $5M | $6M | $6M | $6M | $6M | $6M | · | $7M | $7M | $7M | · | $7M | |
| Deferred Tax | $23M | · | · | · | · | · | · | · | · | · | · | · | · | · | · | · | |
| Other Non-current Liabilities | $945.0K | $7M | $7M | $12M | $12M | $11M | $9M | $11M | $11M | $12M | · | $10M | $9M | $12M | · | $16M | |
| Total Liabilities | $177M | $156M | $170M | $162M | $167M | $155M | $173M | $161M | $159M | $157M | · | $163M | $157M | $61M | · | $65M | |
| Retained Earnings | $-578M | $-615M | $-649M | $-860M | $-892M | $-913M | $-937M | $-938M | $-952M | $-953M | · | $-915M | $-902M | $-891M | · | $-838M | |
| AOCI | $-977.0K | $-880.0K | $-599.0K | $-749.0K | $-905.0K | $-825.0K | $-647.0K | $-385.0K | $-859.0K | $-854.0K | · | $-947.0K | $-1M | $-988.0K | · | $-2M | |
| Stockholders' Equity | $615M | $568M | $581M | $366M | $335M | $350M | $377M | $388M | $365M | $359M | $378M | $392M | $392M | $390M | $405M | $423M | |
| Liabilities + Equity | $792M | $724M | $752M | $528M | $503M | $505M | $551M | $549M | $524M | $517M | · | $555M | $549M | $452M | · | $488M | |
| Shares Outstanding | 132,907,000 | 130,771,000 | 132,323,000 | 131,841,000 | 132,668,000 | 137,747,000 | 140,883,000 | 143,109,000 | 142,984,000 | 143,690,000 | 143,833,000 | 143,605,000 | 143,369,000 | 143,029,000 | 142,268,000 | 142,110,000 |
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 | $5M | $5M | $5M | $5M | $5M | $5M | · | · | · | · | · | · | |
| Stock-based Comp | $3M | $-866.0K | $7M | $6M | $5M | $-3M | $9M | $8M | $9M | $6M | $12M | $12M | $12M | $9M | $7M | $8M | |
| Deferred Tax | $11M | $9M | · | · | $0 | $0 | · | · | · | · | · | · | · | · | · | · | |
| Amort. of Intangibles | $200.0K | $200.0K | $200.0K | $200.0K | $200.0K | $200.0K | $300.0K | $200.0K | $200.0K | $200.0K | $200.0K | $500.0K | $500.0K | $500.0K | $600.0K | $500.0K | |
| Other Non-cash | · | $-15M | · | · | · | $-23M | · | · | · | · | · | · | · | · | · | · | |
| Operating Cash Flow | $53M | $33M | $46M | $44M | $44M | $1M | $30M | $17M | $16M | $-19M | $14M | $-13M | $-3M | $-32M | $10M | $-15M | |
| Investing Cash Flow | $81M | $-18M | $-37M | $-14M | $-13M | $31M | $39M | $-11M | $-39M | $49M | $-6M | $-20M | $-6M | $25M | $-3M | $-50M | |
| Stock Issued | · | · | $355.0K | $0 | · | · | $381.0K | $0 | · | · | · | · | · | · | · | · | |
| Stock Repurchased | $39M | $36M | $0 | $9M | $43M | $47M | $22M | $0 | $6M | $12M | $0 | $0 | $0 | $0 | · | · | |
| Net Stock Activity | · | $-36M | · | · | · | $-47M | · | · | · | $-12M | · | · | · | · | · | · | |
| Financing Cash Flow | $5M | $-54M | $-2M | $-10M | $-44M | $-49M | $-23M | $-3M | $-8M | $-15M | $-6M | $-2M | $1M | $2M | $688.0K | $0 | |
| Net Change in Cash | $139M | $-39M | $7M | $20M | $-13M | $-17M | $46M | $4M | $-31M | $16M | $2M | $-35M | $-7M | $-5M | $8M | $-66M | |
| Taxes Paid | $-4M | $1M | $-276.0K | $2M | $820.0K | $246.0K | $725.0K | $0 | $1M | $0 | $157.0K | $62.0K | $276.0K | $1.0K | $1M | $0 |
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 | 55.7% | 53.3% | · | 40.5% | 28.7% | 35.0% | · | 17.3% | -2.6% | -26.4% | · | -29.8% | -39.0% | -86.0% | · | -17.0% | |
| Net Margin | 45.0% | 44.2% | · | 43.0% | 30.7% | 37.4% | · | 21.2% | 1.3% | -21.4% | · | -24.7% | -27.7% | -76.2% | · | -16.1% | |
| Pretax Margin | 58.6% | 56.5% | · | 43.5% | 31.6% | 39.0% | · | 21.9% | 2.6% | -19.9% | · | -24.1% | -29.2% | -74.9% | · | -14.4% | |
| EBITDA Margin | 55.7% | 59.5% | · | 40.5% | 28.7% | 42.8% | · | 17.3% | -2.6% | -26.4% | · | -29.8% | -39.0% | -86.0% | · | -17.0% | |
| ROA | 5.8% | 5.6% | · | 5.9% | 4.2% | 4.6% | · | 2.6% | 0.13% | -2.2% | · | -2.6% | -2.2% | -5.5% | · | -2.1% | |
| ROE | 7.9% | 7.5% | · | 8.4% | 6.2% | 6.6% | · | 3.7% | 0.19% | -2.9% | · | -3.3% | -2.8% | -6.2% | · | -2.5% | |
| ROIC | 5.8% | 5.7% | · | 8.0% | 5.8% | 6.0% | · | 2.9% | -0.20% | -4.0% | · | -4.2% | -3.9% | -7.7% | · | -2.5% |
Liquidity & Solvency 3
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 5.4 | 5.5 | · | 5.8 | 5.2 | 5.9 | · | 5.6 | 5.3 | 5.6 | · | 5.8 | 6.7 | 10.1 | · | 11.0 | |
| Quick Ratio | 1.8 | 0.5 | · | 1.0 | 0.7 | 1.0 | · | 0.5 | 0.4 | 0.9 | · | 0.6 | 1.3 | 2.1 | · | 2.0 | |
| Interest Coverage | · | · | · | · | · | · | · | · | -1.3 | -10.3 | · | -11.6 | -248.8 | · | · | · |
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 | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | |
| Inventory Turnover | 0.1 | 0.1 | · | 0.2 | 0.2 | 0.2 | · | 0.2 | 0.2 | 0.2 | · | 0.2 | 0.1 | 0.0 | · | 0.1 |
Valuation (TTM) 9
| 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 | $312M | $298M | · | $266M | $260M | $247M | · | $220M | $207M | $191M | · | $159M | $160M | $147M | · | $129M | |
| Net Income TTM | $314M | $298M | · | $78M | $61M | $40M | · | $-23M | $-50M | $-63M | · | $-77M | $-73M | $-97M | · | $-115M | |
| Market Cap | $2.26B | $1.94B | · | $1.46B | $1.12B | $1.11B | · | $1.05B | $816M | $720M | · | $1.12B | $1.39B | $1.57B | · | $1.07B | |
| P/E | 7.4 | 6.8 | · | 19.7 | 19.7 | 28.7 | · | -48.9 | -16.8 | -11.7 | · | -14.7 | -19.4 | -16.4 | · | -9.1 | |
| P/S | 7.2 | 6.5 | · | 5.5 | 4.3 | 4.5 | · | 4.8 | 3.9 | 3.8 | · | 7.0 | 8.7 | 10.7 | · | 8.3 | |
| P/B | 3.7 | 3.4 | · | 4.0 | 3.4 | 3.2 | · | 2.7 | 2.2 | 2.0 | · | 2.8 | 3.5 | 4.0 | · | 2.5 | |
| P / Tangible Book | 3.7 | 3.4 | · | 4.0 | 3.4 | 3.2 | · | 2.7 | 2.3 | 2.0 | · | 2.9 | 3.6 | 4.1 | · | 2.6 | |
| P / Cash Flow | · | 59.5 | · | · | · | 851.9 | · | · | · | -38.7 | · | · | · | -49.5 | · | · | |
| Earnings Yield | 13.5% | 14.6% | · | 5.1% | 5.1% | 3.5% | · | -2.1% | -5.9% | -8.6% | · | -6.8% | -5.2% | -6.1% | · | -11.0% |
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 | $283M | $235M | $176M | $134M | $46M |
| Operating Margin % | 37.1% | -2.0% | — | -83.2% | -396.3% |
| Net Income | $287M | $6M | $-78M | $-108M | $-181M |
| Diluted EPS | $2.07 | $0.04 | $-0.54 | $-0.76 | $-1.40 |
Balance Sheet
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Current Ratio | 5.2 | 4.6 | — | 9.6 | 12.6 |
| Quick Ratio | 0.9 | 0.9 | — | 2.0 | 5.7 |
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Institutional owners (13F) 304 filers · $974.3M total · As of June 30, 2026
Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.
Institutional activity — Q2 2026 vs prior quarter
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 51 (+11 vs prior Q) | 25 (-3 vs prior Q) | 105 (+9 vs prior Q) | 78 (0 vs prior Q) | +1.1M |
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 |
|---|---|---|---|---|
| TANG CAPITAL MANAGEMENT LLC | $221,358,479 | 13,044,106 | 22.72% | Shares |
| NEA Management Company, LLC | $67,368,083 | 3,969,834 | 6.91% | Shares |
| TWO SIGMA INVESTMENTS, LP | $58,843,713 | 3,467,514 | 6.04% | Shares |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | $55,391,132 | 3,264,062 | 5.69% | Shares |
| STATE STREET CORP | $43,945,767 | 2,589,615 | 4.51% | Shares |
| RENAISSANCE TECHNOLOGIES LLC | $26,270,154 | 1,548,035 | 2.70% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $25,959,672 | 1,529,955 | 2.66% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $23,062,705 | 1,359,028 | 2.37% | Shares |
| JACOBS LEVY EQUITY MANAGEMENT, INC | $20,898,827 | 1,231,516 | 2.15% | Shares |
| TWO SIGMA ADVISERS, LP | $20,827,510 | 1,305,800 | 2.14% | Shares |
| VANGUARD GROUP INC | $19,781,940 | 1,240,247 | 2.03% | Shares |
| Caption Management, LLC | $17,105,760 | 1,008,000 | 1.76% | Put option |
| NOMURA HOLDINGS INC | $16,606,876 | 978,602 | 1.70% | Shares |
| D. E. Shaw & Co., Inc. | $15,207,428 | 896,136 | 1.56% | Shares |
| GOLDMAN SACHS GROUP INC | $12,464,618 | 734,509 | 1.28% | Shares |
| JANUS HENDERSON GROUP PLC | $10,494,101 | 708,104 | 1.08% | Shares |
| DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main | $10,124,607 | 596,618 | 1.04% | Shares |
| O'SHAUGHNESSY ASSET MANAGEMENT, LLC | $9,630,339 | 567,492 | 0.99% | Shares |
| Hillsdale Investment Management Inc. | $9,348,773 | 550,900 | 0.96% | Shares |
| PRUDENTIAL FINANCIAL INC | $8,757,284 | 516,045 | 0.90% | Shares |
| Qube Research & Technologies Ltd | $8,145,091 | 479,970 | 0.84% | Shares |
| Woodline Partners LP | $7,742,715 | 456,259 | 0.79% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $7,568,450 | 445,990 | 0.78% | Shares |
| BNP PARIBAS FINANCIAL MARKETS | $7,416,518 | 437,037 | 0.76% | Shares |
| RICE HALL JAMES & ASSOCIATES, LLC | $7,070,228 | 416,631 | 0.73% | Shares |
| Connor, Clark & Lunn Investment Management Ltd. | $6,805,462 | 401,029 | 0.70% | Shares |
| MORGAN STANLEY | $6,349,037 | 374,133 | 0.65% | Shares |
| FMR LLC | $6,315,216 | 372,140 | 0.65% | Shares |
| RITHOLTZ WEALTH MANAGEMENT | $6,161,060 | 363,056 | 0.63% | Shares |
| VOLORIDGE INVESTMENT MANAGEMENT, LLC | $6,150,200 | 362,416 | 0.63% | Shares |
| IFP Advisors, Inc | $6,136,929 | 361,634 | 0.63% | Shares |
| AMERICAN CENTURY COMPANIES INC | $6,034,057 | 355,572 | 0.62% | Shares |
| Norris Financial Group, LLC | $5,809,357 | 342,331 | 0.60% | Shares |
| Squarepoint Ops LLC | $5,386,787 | 317,430 | 0.55% | Shares |
| WELLS FARGO & COMPANY/MN | $4,618,471 | 272,155 | 0.47% | Shares |
| PDT Partners, LLC | $4,505,382 | 265,491 | 0.46% | Shares |
| SEGALL BRYANT & HAMILL, LLC | $4,475,719 | 263,743 | 0.46% | Shares |
| NAVELLIER & ASSOCIATES INC | $4,363,700 | 257,142 | 0.45% | Shares |
| MILLENNIUM MANAGEMENT LLC | $4,145,805 | 244,302 | 0.43% | Shares |
| CITADEL ADVISORS LLC | $4,084,424 | 240,685 | 0.42% | Shares |
| STATE OF WISCONSIN INVESTMENT BOARD | $3,968,350 | 233,845 | 0.41% | Shares |
| ExodusPoint Capital Management, LP | $3,760,891 | 221,620 | 0.39% | Shares |
| Caption Management, LLC | $3,671,680 | 216,363 | 0.38% | Shares |
| Swiss National Bank | $3,621,398 | 213,400 | 0.37% | Shares |
| LOS ANGELES CAPITAL MANAGEMENT LLC | $3,605,734 | 212,477 | 0.37% | Shares |
| KOTLER KEVIN | $3,586,294 | 224,846 | 0.37% | Shares |
| HUSSMAN STRATEGIC ADVISORS, INC. | $3,563,700 | 210,000 | 0.37% | Shares |
| CWA Asset Management Group, LLC | $3,435,407 | 202,440 | 0.35% | Shares |
| BANK OF AMERICA CORP /DE/ | $3,406,659 | 200,746 | 0.35% | Shares |
| JPMORGAN CHASE & CO | $3,393,662 | 197,115 | 0.35% | Shares |
| Uniplan Investment Counsel, Inc. | $3,216,536 | 189,542 | 0.33% | Shares |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM | $3,178,871 | 187,323 | 0.33% | Shares |
| Bank of New York Mellon Corp | $2,801,798 | 165,103 | 0.29% | Shares |
| Jump Financial, LLC | $2,800,050 | 165,000 | 0.29% | Shares |
| JUPITER ASSET MANAGEMENT LTD | $2,779,262 | 163,775 | 0.29% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $2,752,534 | 162,200 | 0.28% | Put option |
| RHUMBLINE ADVISERS | $2,590,985 | 152,681 | 0.27% | Shares |
| Gotham Asset Management, LLC | $2,177,624 | 128,322 | 0.22% | Shares |
| CITADEL ADVISORS LLC | $2,163,675 | 127,500 | 0.22% | Call option |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $2,161,978 | 127,400 | 0.22% | Call option |
| PRINCIPAL FINANCIAL GROUP INC | $2,112,222 | 124,468 | 0.22% | Shares |
| Y-Intercept (Hong Kong) Ltd | $2,050,383 | 120,824 | 0.21% | Shares |
| JANE STREET GROUP, LLC | $2,009,248 | 118,400 | 0.21% | Call option |
| IRONWOOD INVESTMENT MANAGEMENT LLC | $1,924,177 | 113,387 | 0.20% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $1,915,794 | 112,893 | 0.20% | Shares |
| VIRGINIA RETIREMENT SYSTEMS ET Al | $1,908,705 | 119,668 | 0.20% | Shares |
| BlackRock, Inc. | $1,885,452 | 111,105 | 0.19% | Shares |
| ALLIANCEBERNSTEIN L.P. | $1,875,560 | 126,556 | 0.19% | Shares |
| MARTINGALE ASSET MANAGEMENT L P | $1,792,711 | 105,640 | 0.18% | Shares |
| COOKSON PEIRCE & CO INC | $1,781,715 | 104,992 | 0.18% | Shares |
| RAYMOND JAMES FINANCIAL INC | $1,673,361 | 98,607 | 0.17% | Shares |
| CITADEL ADVISORS LLC | $1,646,090 | 97,000 | 0.17% | Put option |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM | $1,573,425 | 106,169 | 0.16% | Shares |
| OMERS ADMINISTRATION Corp | $1,573,119 | 92,700 | 0.16% | Shares |
| Diamond Hill Capital Management, LLC (Investment Advisor) | $1,564,838 | 92,212 | 0.16% | Shares |
| COMMONWEALTH EQUITY SERVICES, LLC | $1,563,770 | 92,149 | 0.16% | Shares |
| Quantinno Capital Management LP | $1,523,804 | 89,794 | 0.16% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $1,500,742 | 88,435 | 0.15% | Shares |
| Balyasny Asset Management L.P. | $1,497,433 | 88,240 | 0.15% | Shares |
| NORDEA INVESTMENT MANAGEMENT AB | $1,431,780 | 84,000 | 0.15% | Shares |
| Man Group plc | $1,423,579 | 83,888 | 0.15% | Shares |
| FEDERATED HERMES, INC. | $1,374,468 | 80,994 | 0.14% | Shares |
| MARSHALL WACE, LLP | $1,360,112 | 80,148 | 0.14% | Shares |
| VANGUARD ASSET MANAGEMENT, Ltd | $1,309,168 | 77,146 | 0.13% | Shares |
| Virtus Investment Advisers, LLC | $1,247,414 | 73,507 | 0.13% | Shares |
| LPL Financial LLC | $1,232,260 | 72,614 | 0.13% | Shares |
| Precision Wealth Strategies, LLC | $1,205,108 | 71,014 | 0.12% | Shares |
| MetLife Investment Management, LLC | $1,202,460 | 70,858 | 0.12% | Shares |
| DEUTSCHE BANK AG\ | $1,191,192 | 70,194 | 0.12% | Shares |
| CVFG LLC | $1,162,446 | 68,500 | 0.12% | Shares |
| Walleye Capital LLC | $1,114,861 | 65,696 | 0.11% | Shares |
| UBS Group AG | $1,111,654 | 65,507 | 0.11% | Shares |
| Advisory Services Network, LLC | $1,089,094 | 64,178 | 0.11% | Shares |
| CITIGROUP INC | $1,068,635 | 62,972 | 0.11% | Shares |
| JANE STREET GROUP, LLC | $1,064,019 | 62,700 | 0.11% | Put option |
| Headlands Technologies LLC | $1,048,593 | 61,791 | 0.11% | Shares |
| Mariner, LLC | $986,403 | 58,130 | 0.10% | Shares |
| Freestone Grove Partners LP | $979,457 | 57,717 | 0.10% | Shares |
| STRS OHIO | $977,472 | 57,600 | 0.10% | Shares |
| Sanctuary Advisors, LLC | $966,357 | 56,945 | 0.10% | Shares |
Company insiders 6 insiders · 0 officers · 5 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Kathleen Goetz | Director | June 4, 2026 A | — | 0 | 0 | $0 |
| Jeffrey Allen Bailey | Director | June 4, 2026 A | — | 0 | 0 | $0 |
| Craig A Johnson | Director | June 4, 2026 A | 14,592 | 0 | 0 | $0 |
| Tina Susan Nova | Director | June 4, 2026 A | — | 0 | 0 | $0 |
| KEVIN TANG | Director | March 3, 2026 P | 12,229,500 | 6 | 0 | $12,688,806 |
| Peter Greenleaf | — | Feb. 20, 2026 F | 1,744,866 | 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 |
|---|---|---|---|---|---|
| TANG CAPITAL MANAGEMENT, LLC, KEVIN TANG, TANG CAPITAL PARTNERS, LP, TANG CAPITAL PARTNERS INTERNATIONAL, LP, TANG CAPITAL PARTNERS III, INC, TANG CAPITAL PARTNERS IV, INC ×5 filings | June 4, 2026 | 10.00% | Amendment | Passive investment | SEC |
| ILJIN SNT Co., Ltd., ILJIN Steel Co., Ltd., ILJIN GLS Co., Ltd., Sae Kyoung Huh, Seoung Eun Huh, Chin Kyu Huh ×3 filings | Aug. 13, 2025 | 5.00% | Amendment | — | SEC |
| (voluntary) ILJIN SNT Co., Ltd., (voluntary) ILJIN Semiconductor Co., Ltd., (voluntary) ILJIN Steel Co., Ltd., (voluntary) ILJIN GLS Co., Ltd.*, (voluntary) Sae Kyoung Huh, (voluntary) Seoung Eun Huh, (voluntary) Chin Kyu Huh ×14 filings | March 20, 2024 | — | Initial filing | — | SEC |
| March 11, 2021 | — | Initial filing | — | SEC | |
| ROBERT W. DUGGAN, GENIUS INC. ×3 filings | Jan. 18, 2019 | — | Initial filing | — | SEC |
| ILJIN Life Science Co., Ltd., ILJIN SNT Co., Ltd., Chin Kyu Huh ×3 filings | March 27, 2017 | — | Initial filing | — | SEC |
| Growth Equity Opportunities Fund III, LLC, New Enterprise Associates 14, L.P., NEA Partners 14, L.P., NEA 14 GP, LTD, M. James Barrett, Peter J. Barris, Forest Baskett, Anthony A. Florence, Jr., Patrick J. Kerins, David M. Mott, Scott D. Sandell, Peter W. Sonsini, Ravi Viswanathan | Jan. 9, 2017 | — | Initial filing | Passive investment | SEC |
Purpose is an automated classification of the filer's own stated purpose (SEC Item 4) — not investment advice. "—" means no clear purpose was stated or the text could not be classified.
ETF ownership Held by 42 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 |
|---|---|---|---|---|
| BBP · ETFis Series Trust I | 1.55% | 59,707 NS | April 30, 2026 | N-PORT |
| JSML · Janus Detroit Street Trust | 0.93% | 191,540 NS | April 30, 2026 | N-PORT |
| JSMD · Janus Detroit Street Trust | 0.85% | 539,369 NS | April 30, 2026 | N-PORT |
| ROSC · Lattice Strategies Trust | 0.45% | 15,928 NS | April 30, 2026 | N-PORT |
| SVAL · iShares Trust | 0.40% | 51,176 SH | Aug. 8, 2026 | Daily |
| OMFS · Invesco Exchange-Traded Self-Indexe… | 0.32% | 58,600 SH | Aug. 8, 2026 | Daily |
| SMMV · iShares Trust | 0.26% | 46,586 SH | Aug. 8, 2026 | Daily |
| JPSE · J.P. Morgan Exchange-Traded Fund Tr… | 0.22% | 84,866 NS | April 30, 2026 | N-PORT |
| IBB · iShares Trust | 0.14% | 834,921 SH | Aug. 8, 2026 | Daily |
| IBBQ · Invesco Exchange-Traded Fund Trust … | 0.14% | 7,001 SH | Aug. 8, 2026 | Daily |
| AVSC · AMERICAN CENTURY ETF TRUST | 0.13% | 241,157 NS | May 31, 2026 | N-PORT |
| VFMF · VANGUARD WELLINGTON FUND | 0.13% | 55,060 SH | Aug. 8, 2026 | Daily |
| VTWG · VANGUARD SCOTTSDALE FUNDS | 0.12% | 127,913 SH | Aug. 8, 2026 | Daily |
| IWO · iShares Trust | 0.12% | 1,083,617 SH | Aug. 8, 2026 | Daily |
| VFQY · VANGUARD WELLINGTON FUND | 0.11% | 29,600 SH | Aug. 8, 2026 | Daily |
| BIB · ProShares Trust | 0.10% | 4,914 NS | May 31, 2026 | N-PORT |
| AFSM · First Trust Exchange-Traded Fund VI… | 0.10% | 6,321 NS | May 31, 2026 | N-PORT |
| BBSC · J.P. Morgan Exchange-Traded Fund Tr… | 0.10% | 45,938 NS | April 30, 2026 | N-PORT |
| ESIM · Strategy Shares | 0.09% | 1,010 NS | April 30, 2026 | N-PORT |
| VFMO · VANGUARD WELLINGTON FUND | 0.09% | 108,272 SH | Aug. 8, 2026 | Daily |
| GSSC · Goldman Sachs ETF Trust | 0.07% | 44,616 NS | May 31, 2026 | N-PORT |
| IWM · iShares Trust | 0.06% | 3,016,564 SH | Aug. 8, 2026 | Daily |
| VTWO · VANGUARD SCOTTSDALE FUNDS | 0.06% | 686,507 SH | Aug. 8, 2026 | Daily |
| RSSL · Global X Funds | 0.06% | 51,735 NS | April 30, 2026 | N-PORT |
| ITWO · ProShares Trust | 0.05% | 5,618 NS | May 31, 2026 | N-PORT |
| ISCG · iShares Trust | 0.04% | 22,962 SH | Aug. 8, 2026 | Daily |
| SXQG · EXCHANGE TRADED CONCEPTS TRUST | 0.04% | 1,627 NS | May 31, 2026 | N-PORT |
| VHT · VANGUARD WORLD FUND | 0.03% | 320,043 SH | Aug. 8, 2026 | Daily |
| FHLC · FIDELITY COVINGTON TRUST | 0.03% | 52,025 NS | April 30, 2026 | N-PORT |
| ISCB · iShares Trust | 0.03% | 4,948 SH | Aug. 8, 2026 | Daily |
| UWM · ProShares Trust | 0.03% | 4,393 NS | May 31, 2026 | N-PORT |
| URTY · ProShares Trust | 0.02% | 4,445 NS | May 31, 2026 | N-PORT |
| ISCV · iShares Trust | 0.02% | 8,178 SH | Aug. 8, 2026 | Daily |
| WSML · iShares Trust | 0.02% | 7,597 SH | Aug. 8, 2026 | Daily |
| MSSM · MORGAN STANLEY PATHWAY FUNDS | 0.01% | 4,871 NS | May 31, 2026 | N-PORT |
| AVUQ · AMERICAN CENTURY ETF TRUST | 0.01% | 1,664 NS | May 31, 2026 | N-PORT |
| HDG · ProShares Trust | 0.01% | 112 NS | May 31, 2026 | N-PORT |
| TILT · FlexShares Trust | 0.01% | 10,626 NS | April 30, 2026 | N-PORT |
| ONEQ · Fidelity Commonwealth Trust | 0.01% | 44,730 NS | May 31, 2026 | N-PORT |
| AVUS · AMERICAN CENTURY ETF TRUST | 0.01% | 43,040 NS | May 31, 2026 | N-PORT |
| IWV · iShares Trust | 0.00% | 38,317 SH | Aug. 8, 2026 | Daily |
| VTHR · VANGUARD SCOTTSDALE FUNDS | 0.00% | 9,589 SH | Aug. 8, 2026 | Daily |