AXGN Axogen, Inc. - Common Stock
$50.19
Price · Aug 18, 2026
Fundamentals as of Jul 29, 2026
52W Range
$14–$50
100% of range
Analyst Rating
BUY
15 analysts
Price Target
$53
+6% upside
P/E (TTM)
-166.2
ROE
-13.0%
Net Profit Margin
-7.0%
AXGN Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$50.19
Market Cap
$2.67B
P/E (TTM)
-166.2
EPS (TTM)
$-0.34
Revenue (TTM)
$225M
Div Yield
—
ROE
-13.0%
Debt/Equity
0.4
52W Range
$14 – $50
AXGN 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
$225M
2016-12-31
→
2025-12-31
EPS
$-0.34
2019-12-31
→
2025-12-31
Free Cash Flow
$-3M
2016-12-31
→
2025-12-31
Margins
-7.0%
2016-12-31
→
2025-12-31
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Metric
5Y trend
AXGN
Peer Median
P/E (TTM)
-166.2
33.1
P/S (TTM)
11.8
6.9
P/B
20.7
4.4
EV / EBITDA
-2249.5
—
Price / FCF
-909.6
—
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Metric
5Y trend
AXGN
Peer Median
Gross Margin
74.3%
57.8%
Operating Margin
-3.5%
—
Net Profit Margin
-7.0%
2.5%
ROA
-7.4%
1.8%
ROE
-13.0%
2.6%
Financial Health Debt, liquidity, solvency — balance sheet strength
Metric
5Y trend
AXGN
Peer Median
Debt / Equity
0.4
25.5
Current Ratio
5.1
5.9
Quick Ratio
2.9
—
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Metric
5Y trend
AXGN
Peer Median
Revenue YoY
20.2%
—
Revenue CAGR 3Y
17.6%
—
Revenue CAGR 5Y
14.9%
—
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
Metric
5Y trend
AXGN
Peer Median
Dividends Yield, payout ratio, dividend history, 5Y CAGR
Dividend Yield
—
Payout Ratio
—
5Y Div CAGR
—
| Ex-date | Amount |
|---|---|
| Jan. 27, 2010 | $1.0000 |
| Feb. 23, 2005 | $0.0600 |
| July 10, 1992 | $0.0417 |
AXGN Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
BUY
15 analysts
- Strong Buy 4 26.7%
- Buy 10 66.7%
- Hold 1 6.7%
- Sell 0 0.0%
- Strong Sell 0 0.0%
12-Month Price Target
9 analysts · 2026-08-14
Median
$55.00
Mean
$53.22
Now
$50.19
Low
$48.00
High
$58.00
Median target
$55.00
+9.6%
Mean target
$53.22
+6.0%
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
0.00%
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| June 30, 2026 | $0.12 | $0.12 | -0.00% |
| March 31, 2026 | $0.07 | $0.07 | -0.00% |
| Dec. 31, 2025 | $0.07 | $0.10 | -0.03% |
| Sept. 30, 2025 | $0.12 | $0.07 | 0.05% |
| June 30, 2025 | $0.12 | $0.06 | 0.06% |
| March 31, 2025 | $-0.02 | $0.02 | -0.04% |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| AXGN | $1.54B | -96.3 | 20.2% | -7.0% | -13.0% | 74.3% |
| IRTC | $5.73B | -127.7 | 26.2% | -6.0% | -34.8% | 70.6% |
| PLSE | — | — | — | — | — | — |
| TMDX | $4.17B | 25.0 | 37.1% | 31.4% | 48.1% | 59.9% |
| BFLY | — | -12.3 | 19.0% | -79.0% | -35.9% | 46.9% |
| ATRC | $1.97B | -164.8 | 14.9% | -2.1% | -2.4% | 75.0% |
| LMAT | $1.85B | 32.2 | 13.5% | 23.1% | 15.3% | 71.5% |
| INSP | $2.64B | 18.9 | 13.6% | 16.0% | 19.9% | 85.4% |
| OMCL | $2.04B | 1132.5 | 6.5% | 0.17% | 0.16% | 42.5% |
| KMTS | $1.21B | -8.5 | 59.0% | -138.4% | -62.1% | 51.4% |
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 | $225M | $187M | $159M | $139M | $127M | $112M | $107M | $84M | $60M | $41M | $27M | $17M | |
| Cost of Revenue | $58M | $45M | $37M | $30M | $23M | $22M | $17M | $13M | $9M | $6M | $5M | $3M | |
| Gross Profit | $167M | $142M | $122M | $109M | $104M | $91M | $89M | $71M | $51M | $35M | $22M | $13M | |
| R&D Expense | $33M | $28M | $27M | $26M | $24M | $18M | $18M | $12M | $7M | $4M | $3M | $3M | |
| SG&A Expense | $45M | $39M | $38M | $41M | $32M | $26M | $31M | $23M | $15M | $10M | $8M | $7M | |
| Operating Expenses | $175M | $145M | $143M | $139M | $130M | $114M | $121M | $92M | $59M | $43M | $32M | $23M | |
| Operating Income | $-8M | $-3M | $-21M | $-30M | $-25M | $-23M | $-31M | $-20M | $-8M | $-8M | $-9M | $-10M | |
| Interest Expense | · | · | $3M | $624.0K | $1M | $1M | $40.0K | $1M | $2M | $5M | $4M | $7M | |
| Other Non-op | $167.0K | $-199.0K | $-437.0K | $-230.0K | $-278.0K | $-38.0K | $2M | $-2M | $-2M | $-6M | $26.8K | $3.1K | |
| Income Tax | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Net Income | $-16M | $-10M | $-22M | $-29M | $-27M | $-24M | $-29M | $-22M | $-10M | $-14M | $-13M | $-18M | |
| EPS (Basic) | $-0.34 | $-0.23 | $-0.51 | $-0.69 | $-0.65 | $-0.60 | $-0.74 | · | · | · | · | · | |
| EPS (Diluted) | $-0.34 | $-0.23 | $-0.51 | $-0.69 | $-0.65 | $-0.60 | $-0.74 | · | · | · | · | · | |
| Shares (Basic) | 46,050,266 | 44,257,754 | 42,878,543 | 42,083,125 | 41,214,889 | 39,966,937 | 39,235,000 | · | · | · | · | · | |
| Shares (Diluted) | 46,050,266 | 44,257,754 | 42,878,543 | 42,083,125 | 41,214,889 | 39,966,937 | 39,235,000 | · | · | · | · | · | |
| EBITDA | $-1M | $3M | $-17M | · | $-25M | $-23M | · | · | $-8M | $-8M | $-9M | $-10M |
Balance Sheet 24
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $36M | $28M | $31M | $15M | $33M | $49M | $36M | $24M | $37M | $30M | $26M | $8M | |
| Short-term Investments | $6M | $6M | $0 | $34M | $51M | $55M | $61M | $92M | · | · | · | · | |
| Receivables | $26M | $24M | $25M | $22M | $18M | $18M | $17M | $15M | $11M | $8M | $5M | $3M | |
| Inventory | $42M | $33M | $23M | $19M | $17M | $13M | $14M | $12M | $7M | $5M | $4M | $3M | |
| Prepaid Expense | $6M | $2M | $3M | $2M | $2M | $4M | $2M | $1M | $853.0K | $511.8K | $424.9K | $109.4K | |
| Current Assets | $120M | $99M | $88M | $98M | $127M | $145M | $135M | $151M | $56M | $44M | $35M | $14M | |
| PP&E (Net) | · | · | · | · | $63M | $38M | $15M | $8M | $2M | $1M | $970.9K | $619.0K | |
| PP&E (Gross) | · | · | · | · | $70M | $43M | $19M | $11M | · | · | · | · | |
| Accum. Depreciation | · | · | · | · | $8M | $5M | $4M | $3M | $2M | $2M | $2M | $2M | |
| Intangibles | $7M | $6M | $5M | $4M | $3M | $2M | $2M | $1M | $937.0K | $829.0K | $678.1K | $577.2K | |
| Other Non-current Assets | $0 | · | · | · | · | $0 | · | · | · | · | · | · | |
| Total Assets | $222M | $204M | $197M | $195M | $208M | $201M | $155M | $160M | $59M | $46M | $37M | $16M | |
| Accounts Payable | $21M | $8M | $12M | $9M | $6M | $5M | $8M | $5M | $3M | $4M | $2M | $1M | |
| Current Liabilities | $24M | $31M | $30M | $24M | $24M | $23M | $21M | $13M | $14M | $11M | $4M | $2M | |
| Capital Leases | $17M | $19M | $21M | $20M | $21M | $21M | $2M | · | · | · | · | · | |
| Other Non-current Liabilities | $141.0K | $94.0K | $0 | · | $0 | $3.0K | $15.0K | $70.0K | $95.0K | · | · | · | |
| Total Liabilities | $93M | $100M | $101M | $94M | $95M | $78M | $22M | $13M | $34M | $31M | $29M | $28M | |
| Long-term Debt | $48M | $47M | $47M | $46M | $45M | $32M | $0 | $63.0K | $21M | $20M | · | · | |
| Total Debt | $48M | $47M | $47M | · | $45M | $32M | · | · | $21M | $20M | $26M | $25M | |
| Common Stock | $472.0K | $441.0K | $431.0K | $424.0K | $417.0K | $406.0K | $396.0K | $389.0K | $343.0K | $330.1K | $299.8K | $194.9K | |
| Retained Earnings | $-307M | $-291M | $-281M | $-260M | $-231M | $-204M | $-180M | $-151M | $-128M | $-118M | $-103M | $-90M | |
| Stockholders' Equity | $129M | $104M | $96M | $101M | $113M | $123M | $132M | $147M | $25M | $15M | $8M | $-11M | |
| Liabilities + Equity | $222M | $204M | $197M | $195M | $208M | $201M | $155M | $160M | $59M | $46M | $37M | $16M | |
| Shares Outstanding | 47,199,797 | 44,148,836 | 43,124,496 | 42,445,517 | 41,737,000 | 40,619,000 | 39,590,000 | 38,901,000 | 34,350,000 | 33,009,000 | 29,985,000 | 19,488,814 |
Cash Flow 14
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $7M | $6M | $4M | $3M | $3M | $2M | · | · | · | · | · | $153.7K | |
| Stock-based Comp | $30M | $16M | $14M | $16M | $11M | $8M | $10M | $8M | $4M | $1M | $1M | $956.4K | |
| Amort. of Intangibles | $315.0K | $267.0K | $273.0K | $265.0K | $202.0K | $153.0K | $123.0K | $77.0K | $79.0K | $75.0K | $45.8K | $45.2K | |
| Other Non-cash | $-20M | $-8M | $-3M | · | · | · | · | · | · | · | · | $6M | |
| Operating Cash Flow | $812.0K | $5M | $-6M | $-16M | $-13M | $-10M | $-20M | $-18M | $-9M | $-11M | $-13M | $-10M | |
| CapEx | $4M | $3M | $14M | $20M | $28M | $22M | $5M | $6M | $1M | $931.0K | $408.8K | $542.0K | |
| Investing Cash Flow | $-5M | $-10M | $19M | $-3M | $-24M | $-17M | $27M | $-98M | $-1M | $-1M | $-555.5K | · | |
| Debt Issued | · | · | $0 | $0 | $15M | $35M | $0 | $0 | · | · | · | · | |
| Net Debt Issued | · | · | $0 | · | $15M | $35M | · | · | $-20.9K | $-2M | · | $-2M | |
| Stock Issued | · | · | · | $0 | $0 | $4M | $0 | $133M | $16M | $19M | $31M | $2M | |
| Net Stock Activity | · | · | · | · | $0 | $4M | · | · | $16M | $19M | $31M | $2M | |
| Financing Cash Flow | $10M | $2M | $2M | $2M | $20M | $40M | $4M | $110M | $17M | $16M | $31M | · | |
| Net Change in Cash | $6M | $-3M | $15M | $-17M | $-17M | $14M | $11M | $-6M | $6M | $4M | $18M | $-12M | |
| Free Cash Flow | $-3M | $1M | $-20M | · | $-41M | $-32M | · | · | $-10M | $-12M | $-13M | $-11M |
Profitability 6
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 74.3% | 75.8% | 80.4% | · | 82.0% | 80.8% | · | · | 84.6% | 84.3% | 82.3% | 79.5% | |
| Operating Margin | -3.5% | -1.8% | -13.5% | · | -20.0% | -20.6% | · | · | -13.2% | -19.8% | -33.9% | -58.3% | |
| Net Margin | -7.0% | -5.3% | -13.7% | · | -21.2% | -21.2% | · | · | -17.3% | -35.1% | -48.9% | -105.3% | |
| EBITDA Margin | -0.53% | 1.7% | -10.8% | · | -20.0% | -20.6% | · | · | -13.2% | -19.8% | -33.9% | -57.4% | |
| ROA | -7.4% | -5.0% | -11.1% | · | -13.2% | -13.4% | · | · | -19.9% | -34.7% | -49.5% | -80.3% | |
| ROE | -13.0% | -9.8% | -22.4% | · | -23.7% | -19.4% | · | · | -52.1% | -124.7% | 875.8% | 318.8% |
Liquidity & Solvency 5
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 5.1 | 3.2 | 2.9 | · | 5.2 | 6.4 | · | · | 4.1 | 4.0 | 9.4 | 5.9 | |
| Quick Ratio | 2.9 | 1.9 | 1.8 | · | 4.2 | 5.3 | · | · | 3.5 | 3.4 | 8.3 | 4.5 | |
| Debt / Equity | 0.4 | 0.5 | 0.5 | · | 0.4 | 0.3 | · | · | 0.8 | 1.4 | 3.1 | -2.2 | |
| LT Debt / Equity | 0.4 | 0.5 | 0.5 | · | 0.4 | 0.3 | · | · | 0.8 | 1.4 | 3.1 | -2.2 | |
| Interest Coverage | · | · | -7.6 | · | -18.7 | -22.0 | · | · | -3.6 | -1.5 | -2.3 | -1.4 |
Efficiency 3
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 1.1 | 0.9 | 0.8 | · | 0.6 | 0.6 | · | · | 1.1 | 1.0 | 1.0 | 0.8 | |
| Inventory Turnover | 1.5 | 1.6 | 1.5 | · | 1.6 | 1.6 | · | · | 1.5 | 1.4 | 1.4 | 1.0 | |
| Receivables Turnover | 9.0 | 7.6 | 6.7 | · | 7.1 | 6.5 | · | · | 6.3 | 6.4 | 7.1 | 7.1 |
Growth Rates 3
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue YoY | 20.2% | 17.8% | 14.7% | 8.8% | 13.4% | · | · | · | · | · | · | · | |
| Revenue CAGR 3Y | 17.6% | 13.7% | 12.3% | · | · | · | · | · | · | · | · | · | |
| Revenue CAGR 5Y | 14.9% | · | · | · | · | · | · | · | · | · | · | · |
Valuation (TTM) 14
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $225M | $187M | $159M | $139M | $127M | $112M | $107M | $84M | $60M | $41M | $27M | $17M | |
| Net Income TTM | $-16M | $-10M | $-22M | $-29M | $-27M | $-24M | $-29M | $-22M | $-10M | $-14M | $-13M | $-18M | |
| Market Cap | $1.54B | $728M | $295M | · | $391M | $727M | · | · | $972M | $297M | $150M | $70M | |
| Enterprise Value | $1.55B | $742M | $310M | · | $352M | $655M | · | · | $956M | $287M | $150M | $87M | |
| P/E | -96.3 | -71.7 | -13.4 | -14.5 | -14.4 | -29.8 | -24.2 | · | · | · | · | · | |
| P/S | 6.9 | 3.9 | 1.9 | · | 3.1 | 6.5 | · | · | 16.1 | 7.2 | 5.5 | 4.2 | |
| P/B | 12.0 | 7.0 | 3.1 | · | 3.5 | 5.9 | · | · | 38.6 | 19.9 | 18.3 | -6.2 | |
| P / Tangible Book | 12.7 | 7.4 | 3.2 | 4.4 | 3.6 | 6.0 | · | · | · | · | · | · | |
| P / Cash Flow | 1902.5 | 160.4 | -51.5 | · | -29.2 | -75.5 | · | · | -105.2 | -26.5 | -11.5 | -6.7 | |
| P / FCF | -526.7 | 507.4 | -15.0 | · | -9.5 | -23.1 | · | · | -94.0 | -24.4 | -11.1 | -6.4 | |
| EV / EBITDA | -1305.1 | 233.2 | -18.0 | · | -13.8 | -28.3 | · | · | -120.3 | -35.3 | -16.1 | -9.0 | |
| EV / FCF | -529.1 | 517.1 | -15.8 | · | -8.5 | -20.8 | · | · | -92.5 | -23.6 | -11.1 | -7.9 | |
| EV / Revenue | 6.9 | 4.0 | 2.0 | · | 2.8 | 5.8 | · | · | 15.8 | 7.0 | 5.5 | 5.2 | |
| Earnings Yield | -1.0% | -1.4% | -7.5% | -6.9% | -6.9% | -3.4% | -4.1% | · | · | · | · | · |
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 | $70M | $61M | $60M | $60M | $57M | $49M | $49M | $49M | $48M | $41M | $43M | $41M | $38M | $37M | $36M | $37M | |
| Cost of Revenue | $19M | $15M | $15M | $14M | $15M | $14M | $12M | $12M | $13M | $9M | $11M | $10M | $9M | $8M | $12M | $6M | |
| Gross Profit | $51M | $46M | $44M | $46M | $42M | $35M | $38M | $36M | $35M | $33M | $32M | $32M | $30M | $28M | $24M | $31M | |
| R&D Expense | $9M | $8M | $12M | $8M | $7M | $6M | $7M | $7M | $7M | $7M | $7M | $7M | $7M | $6M | $5M | $7M | |
| SG&A Expense | $13M | $13M | $15M | $11M | $10M | $9M | $9M | $11M | $9M | $10M | $8M | $10M | $11M | $10M | $13M | $9M | |
| Operating Expenses | $53M | $49M | $54M | $44M | $40M | $37M | $36M | $37M | $36M | $37M | $35M | $36M | $37M | $36M | $30M | $36M | |
| Operating Income | $-2M | $-3M | $-10M | $2M | $2M | $-2M | $2M | $-316.0K | $-428.0K | $-5M | $-3M | $-4M | $-7M | $-7M | $-6M | $-5M | |
| Interest Expense | · | · | · | · | · | · | · | · | · | $2M | · | $827.0K | $148.0K | $16.0K | · | $61.0K | |
| Other Non-op | $-145.0K | $23.0K | $0 | $25.0K | $179.0K | $-37.0K | $-45.0K | $-48.0K | $1.0K | $-107.0K | $-73.0K | $-6.0K | $-277.0K | $-81.0K | $-133.0K | $-57.0K | |
| Income Tax | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | · | · | · | · | · | · | |
| Net Income | $-2M | $-20M | $-13M | $708.0K | $579.0K | $-4M | $450.0K | $-2M | $-2M | $-7M | $-4M | $-4M | $-7M | $-7M | $-5M | $-4M | |
| EPS (Basic) | $-0.03 | $-0.38 | $-0.29 | $0.02 | $0.01 | $-0.08 | $0.00 | $-0.04 | $-0.04 | $-0.15 | $-0.08 | $-0.10 | $-0.16 | $-0.17 | $-0.14 | $-0.10 | |
| EPS (Diluted) | $-0.03 | $-0.38 | $-0.28 | $0.01 | $0.01 | $-0.08 | $0.00 | $-0.04 | $-0.04 | $-0.15 | $-0.08 | $-0.10 | $-0.16 | $-0.17 | $-0.14 | $-0.10 | |
| Shares (Basic) | 53,339,258 | 51,591,504 | -91,711,500 | 46,494,598 | 46,063,092 | 45,204,076 | -86,570,818 | 43,882,110 | 43,713,313 | 43,233,149 | -85,577,190 | 43,022,328 | 42,862,384 | 42,571,021 | -83,936,342 | 42,220,519 | |
| Shares (Diluted) | 53,339,258 | 51,591,504 | -96,223,076 | 49,088,436 | 47,980,830 | 45,204,076 | -86,570,818 | 43,882,110 | 43,713,313 | 43,233,149 | -85,577,190 | 43,022,328 | 42,862,384 | 42,571,021 | -83,936,342 | 42,220,519 | |
| EBITDA | $-2M | $-1M | · | $2M | $2M | $67.0K | · | $-316.0K | $-428.0K | $-3M | · | $-4M | $-7M | $-7M | · | $-5M |
Balance Sheet 21
| 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 | $95M | $83M | $36M | $24M | $20M | $18M | $28M | $19M | $19M | $16M | · | $31M | $23M | $8M | · | $14M | |
| Short-term Investments | $17M | $19M | $6M | $12M | $10M | $4M | $6M | $6M | $2M | $2M | · | $1M | $11M | $30M | · | $39M | |
| Receivables | $34M | $28M | $26M | $31M | $28M | $26M | $24M | $25M | $25M | $24M | · | $23M | $22M | $22M | · | $21M | |
| Inventory | $47M | $46M | $42M | $41M | $37M | $36M | $33M | $29M | $28M | $28M | · | $23M | $21M | $20M | · | $19M | |
| Prepaid Expense | $6M | $7M | $6M | $3M | $3M | $3M | $2M | $2M | $2M | $3M | · | $3M | $3M | $2M | · | $3M | |
| Current Assets | $200M | $185M | $120M | $114M | $103M | $93M | $99M | $86M | $82M | $79M | · | $87M | $86M | $89M | · | $102M | |
| Intangibles | $8M | $7M | $7M | $6M | $6M | $6M | $6M | $5M | $5M | $5M | · | $4M | $4M | $4M | · | $3M | |
| Other Non-current Assets | $729.0K | $192.0K | · | · | · | · | · | · | · | · | · | · | · | · | · | · | |
| Total Assets | $305M | $289M | $222M | $216M | $205M | $196M | $204M | $192M | $189M | $187M | · | $195M | $192M | $189M | · | $196M | |
| Accounts Payable | $28M | $24M | $3M | $26M | $23M | $20M | $8M | $21M | $22M | $21M | · | $26M | $23M | $20M | · | $22M | |
| Current Liabilities | $30M | $26M | $24M | $28M | $25M | $22M | $31M | $23M | $23M | $23M | · | $27M | $24M | $21M | · | $24M | |
| Capital Leases | $18M | $18M | $17M | $17M | $18M | $19M | $19M | $20M | $20M | $21M | · | $20M | $20M | $20M | · | $21M | |
| Other Non-current Liabilities | $141.0K | $140.0K | $141.0K | $141.0K | $141.0K | $141.0K | $94.0K | $94.0K | $94.0K | · | · | · | · | · | · | · | |
| Total Liabilities | $49M | $45M | $93M | $96M | $93M | $91M | $100M | $93M | $93M | $93M | · | $97M | $94M | $92M | · | $94M | |
| Long-term Debt | · | · | $48M | $48M | $48M | $48M | $47M | $47M | $47M | $47M | · | $46M | $46M | $46M | · | $45M | |
| Total Debt | $0 | $0 | · | $48M | $48M | $48M | · | $47M | $47M | $47M | · | $46M | $46M | $46M | · | $45M | |
| Common Stock | $537.0K | $532.0K | $472.0K | $461.0K | $457.0K | $455.0K | $441.0K | $440.0K | $438.0K | $437.0K | · | $430.0K | $430.0K | $428.0K | · | $423.0K | |
| Retained Earnings | $-328M | $-327M | $-307M | $-294M | $-295M | $-295M | $-291M | $-292M | $-290M | $-288M | · | $-277M | $-273M | $-267M | · | $-254M | |
| Stockholders' Equity | $256M | $245M | $129M | $121M | $112M | $105M | $104M | $99M | $96M | $93M | $96M | $98M | $97M | $98M | $101M | $101M | |
| Liabilities + Equity | $305M | $289M | $222M | $216M | $205M | $196M | $204M | $192M | $189M | $187M | · | $195M | $192M | $189M | · | $196M | |
| Shares Outstanding | 53,656,293 | 53,153,471 | 47,199,797 | 46,117,283 | 45,765,290 | 45,512,623 | 44,148,836 | 44,002,323 | 43,824,738 | 43,687,729 | 43,124,496 | 43,039,399 | 42,979,541 | 42,809,994 | 42,445,000 | 42,272,223 |
Cash Flow 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $1M | $797.0K | $709.0K | $645.0K | $764.0K | |
| Stock-based Comp | $9M | $7M | $17M | $5M | $5M | $3M | $3M | $5M | $4M | $4M | $1M | $5M | $5M | $3M | $4M | $4M | |
| Amort. of Intangibles | $111.0K | $101.0K | $94.0K | $88.0K | $66.0K | $67.0K | $64.0K | $65.0K | $76.0K | $62.0K | $59.0K | $70.0K | $73.0K | $71.0K | $67.0K | $66.0K | |
| Other Non-cash | · | $13M | · | · | · | $-14M | · | · | · | $-11M | · | · | · | $-4M | · | · | |
| Operating Cash Flow | $7M | $2M | $3M | $3M | $8M | $-13M | $9M | $4M | $4M | $-12M | $-211.0K | $2M | $292.0K | $-7M | $1M | $-689.0K | |
| CapEx | $893.0K | $3M | $1M | $2M | $722.0K | $256.0K | $670.0K | $597.0K | $910.0K | $924.0K | $1M | $4M | $4M | $4M | $7M | $4M | |
| Investing Cash Flow | $500.0K | $-16M | $4M | $-4M | $-7M | $1M | $-813.0K | $-5M | $-1M | $-3M | $-277.0K | $6M | $14M | $-786.0K | $-1M | $3M | |
| Debt Issued | · | · | · | · | · | · | · | · | · | · | · | · | · | · | · | $0 | |
| Net Debt Issued | · | $-49M | · | · | · | · | · | · | · | · | · | · | · | · | · | · | |
| Stock Issued | $0 | $134M | · | · | $0 | $0 | · | · | · | · | · | · | · | · | · | · | |
| Net Stock Activity | · | $134M | · | · | · | · | · | · | · | · | · | · | · | · | · | · | |
| Financing Cash Flow | $4M | $60M | $5M | $2M | $1M | $2M | $970.0K | $572.0K | $544.0K | $204.0K | $418.0K | $5.0K | $898.0K | $633.0K | $813.0K | $215.0K | |
| Net Change in Cash | $12M | $45M | $12M | $2M | $2M | $-9M | $9M | $-527.0K | $3M | $-15M | $-70.0K | $8M | $16M | $-8M | $966.0K | $2M | |
| Free Cash Flow | · | $-1M | · | · | · | $-13M | · | · | · | $-13M | · | · | · | $-12M | · | · |
Profitability 6
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 72.7% | 75.2% | · | 76.5% | 74.2% | 71.9% | · | 74.9% | 73.8% | 78.8% | · | 80.5% | 81.1% | 81.7% | · | 83.3% | |
| Operating Margin | -3.1% | -4.6% | · | 3.2% | 2.9% | -3.4% | · | -0.65% | -0.89% | -11.0% | · | -9.8% | -18.1% | -20.0% | · | -13.1% | |
| Net Margin | -2.2% | -31.9% | · | 1.2% | 1.0% | -7.9% | · | -3.8% | -4.0% | -16.0% | · | -9.9% | -17.5% | -19.3% | · | -11.7% | |
| EBITDA Margin | -3.1% | -2.0% | · | 3.2% | 2.9% | 0.14% | · | -0.65% | -0.89% | -7.3% | · | -9.8% | -18.1% | -18.1% | · | -13.1% | |
| ROA | -0.59% | -8.1% | · | 0.35% | 0.29% | -2.0% | · | -0.96% | -1.0% | -3.5% | · | -2.1% | -3.4% | -3.6% | · | -2.1% | |
| ROE | -0.82% | -11.2% | · | 0.64% | 0.56% | -3.9% | · | -1.9% | -2.0% | -7.0% | · | -4.1% | -6.7% | -7.0% | · | -4.0% |
Liquidity & Solvency 5
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 6.6 | 7.1 | · | 4.1 | 4.1 | 4.3 | · | 3.7 | 3.5 | 3.4 | · | 3.3 | 3.6 | 4.2 | · | 4.4 | |
| Quick Ratio | 4.8 | 5.0 | · | 2.4 | 2.3 | 2.2 | · | 2.1 | 2.0 | 1.8 | · | 2.1 | 2.3 | 2.8 | · | 3.2 | |
| Debt / Equity | 0.0 | 0.0 | · | 0.4 | 0.4 | 0.5 | · | 0.5 | 0.5 | 0.5 | · | 0.5 | 0.5 | 0.5 | · | 0.4 | |
| LT Debt / Equity | 0.0 | 0.0 | · | 0.4 | 0.4 | 0.5 | · | 0.5 | 0.5 | 0.5 | · | 0.5 | 0.5 | 0.5 | · | 0.4 | |
| Interest Coverage | · | · | · | · | · | · | · | · | · | -2.0 | · | -4.9 | -46.6 | -458.8 | · | -79.6 |
Efficiency 3
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.3 | 0.3 | · | 0.3 | 0.3 | 0.3 | · | 0.3 | 0.3 | 0.2 | · | 0.2 | 0.2 | 0.2 | · | 0.2 | |
| Inventory Turnover | 0.5 | 0.4 | · | 0.4 | 0.5 | 0.4 | · | 0.5 | 0.5 | 0.4 | · | 0.4 | 0.4 | 0.4 | · | 0.4 | |
| Receivables Turnover | 2.2 | 2.3 | · | 2.2 | 2.1 | 1.9 | · | 2.0 | 2.1 | 1.8 | · | 1.8 | 1.8 | 1.8 | · | 1.9 |
Valuation (TTM) 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 TTM | $248M | $227M | · | $214M | $202M | $186M | · | $179M | $169M | $157M | · | $153M | $146M | $139M | · | $134M | |
| Net Income TTM | $-20M | $-22M | · | $-4M | $-7M | $-14M | · | $-15M | $-19M | $-24M | · | $-22M | $-26M | $-31M | · | $-31M | |
| Market Cap | $2.48B | $1.76B | · | $823M | $497M | $842M | · | $617M | $317M | $353M | · | $215M | $392M | $405M | · | $504M | |
| Enterprise Value | $2.37B | $1.66B | · | $835M | $515M | $868M | · | $640M | $343M | $382M | · | $229M | $404M | $413M | · | $496M | |
| P/E | -118.4 | -75.3 | · | -178.4 | -72.3 | -59.7 | · | -42.5 | -16.1 | -13.9 | · | -9.4 | -15.0 | -13.1 | · | -16.6 | |
| P/S | 10.0 | 7.8 | · | 3.8 | 2.5 | 4.5 | · | 3.4 | 1.9 | 2.2 | · | 1.4 | 2.7 | 2.9 | · | 3.8 | |
| P/B | 9.7 | 7.2 | · | 6.8 | 4.4 | 8.0 | · | 6.2 | 3.3 | 3.8 | · | 2.2 | 4.0 | 4.1 | · | 5.0 | |
| P / Tangible Book | 10.0 | 7.4 | · | 7.2 | 4.7 | 8.5 | · | 6.5 | 3.5 | 4.0 | · | 2.3 | 4.2 | 4.3 | · | 5.1 | |
| P / Cash Flow | · | 1125.2 | · | · | · | -63.9 | · | · | · | -28.7 | · | · | · | -54.5 | · | · | |
| P / FCF | · | -1438.7 | · | · | · | -62.7 | · | · | · | -26.7 | · | · | · | -34.5 | · | · | |
| EV / EBITDA | -1097.9 | -1351.3 | · | 436.8 | 307.8 | 12949.7 | · | -2024.2 | -801.9 | -125.6 | · | -56.9 | -58.5 | -62.2 | · | -102.2 | |
| EV / FCF | · | -1355.7 | · | · | · | -64.6 | · | · | · | -28.9 | · | · | · | -35.2 | · | · | |
| EV / Revenue | 9.5 | 7.3 | · | 3.9 | 2.6 | 4.7 | · | 3.6 | 2.0 | 2.4 | · | 1.5 | 2.8 | 3.0 | · | 3.7 | |
| Earnings Yield | -0.84% | -1.3% | · | -0.56% | -1.4% | -1.7% | · | -2.4% | -6.2% | -7.2% | · | -10.6% | -6.7% | -7.6% | · | -6.0% |
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 | $225M | $187M | $159M | $139M | $127M |
| Gross Margin % | 74.3% | 75.8% | 80.4% | — | 82.0% |
| Operating Margin % | -3.5% | -1.8% | -13.5% | — | -20.0% |
| Net Income | $-16M | $-10M | $-22M | $-29M | $-27M |
| Diluted EPS | $-0.34 | $-0.23 | $-0.51 | $-0.69 | $-0.65 |
Balance Sheet
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Debt / Equity | 0.4 | 0.5 | 0.5 | — | 0.4 |
| Current Ratio | 5.1 | 3.2 | 2.9 | — | 5.2 |
| Quick Ratio | 2.9 | 1.9 | 1.8 | — | 4.2 |
Cash Flow
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Free Cash Flow | $-3M | $1M | $-20M | — | $-41M |
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Institutional owners (13F) 270 filers · $1.7B 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 |
|---|---|---|---|---|
| 58 (+14 vs prior Q) | 18 (-9 vs prior Q) | 96 (+15 vs prior Q) | 67 (+5 vs prior Q) | +903K |
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 |
|---|---|---|---|---|
| First Light Asset Management, LLC | $126,946,795 | 2,748,361 | 7.36% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $104,294,618 | 2,257,948 | 6.04% | Shares |
| Polar Capital Holdings Plc | $69,322,968 | 1,500,822 | 4.02% | Shares |
| Artemis Investment Management LLP | $64,517,822 | 1,396,792 | 3.74% | Shares |
| CITADEL ADVISORS LLC | $62,856,784 | 1,360,831 | 3.64% | Shares |
| WASATCH ADVISORS LP | $61,534,006 | 1,857,350 | 3.57% | Shares |
| STATE STREET CORP | $57,590,662 | 1,246,821 | 3.34% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $54,520,141 | 1,180,052 | 3.16% | Shares |
| FMR LLC | $51,748,458 | 1,120,339 | 3.00% | Shares |
| Hood River Capital Management LLC | $49,288,056 | 1,067,072 | 2.86% | Shares |
| Assenagon Asset Management S.A. | $48,206,194 | 1,043,650 | 2.79% | Shares |
| GOLDMAN SACHS GROUP INC | $47,046,039 | 1,018,533 | 2.73% | Shares |
| RTW INVESTMENTS, LP | $46,724,695 | 1,011,576 | 2.71% | Shares |
| NEXT CENTURY GROWTH INVESTORS LLC | $40,302,899 | 872,546 | 2.34% | Shares |
| ARMISTICE CAPITAL, LLC | $35,797,250 | 775,000 | 2.07% | Shares |
| BAMCO INC /NY/ | $34,190,300 | 740,210 | 1.98% | Shares |
| WELLINGTON MANAGEMENT GROUP LLP | $33,591,031 | 727,236 | 1.95% | Shares |
| ArrowMark Colorado Holdings LLC | $32,877,811 | 711,795 | 1.91% | Shares |
| Driehaus Capital Management LLC | $32,667,138 | 707,234 | 1.89% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $26,710,060 | 578,265 | 1.55% | Shares |
| Holocene Advisors, LP | $24,793,175 | 536,765 | 1.44% | Shares |
| Capricorn Fund Managers Ltd | $21,472,022 | 464,863 | 1.24% | Shares |
| NOMURA ASSET MANAGEMENT INTERNATIONAL INC. | $21,058,000 | 455,900 | 1.22% | Shares |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | $20,463,325 | 443,025 | 1.19% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $20,393,809 | 441,520 | 1.18% | Shares |
| TimesSquare Capital Management, LLC | $19,061,809 | 575,364 | 1.10% | Shares |
| OBERWEIS ASSET MANAGEMENT INC/ | $17,930,681 | 388,194 | 1.04% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $17,905,184 | 387,642 | 1.04% | Shares |
| JACOBS LEVY EQUITY MANAGEMENT, INC | $17,848,878 | 386,423 | 1.03% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $17,492,107 | 378,699 | 1.01% | Shares |
| FRED ALGER MANAGEMENT, LLC | $16,232,967 | 351,439 | 0.94% | Shares |
| HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND | $16,071,903 | 347,952 | 0.93% | Shares |
| HighMark Wealth Management LLC | $15,768,804 | 341,390 | 0.91% | Shares |
| WCM INVESTMENT MANAGEMENT, LLC | $15,075,067 | 337,099 | 0.87% | Shares |
| TWO SIGMA INVESTMENTS, LP | $14,743,987 | 319,203 | 0.85% | Shares |
| NZS Capital, LLC | $12,848,672 | 278,170 | 0.74% | Shares |
| D. E. Shaw & Co., Inc. | $12,828,718 | 277,738 | 0.74% | Shares |
| FIRST TRUST ADVISORS LP | $12,525,065 | 271,164 | 0.73% | Shares |
| Stephens Investment Management Group LLC | $11,958,822 | 258,905 | 0.69% | Shares |
| Balyasny Asset Management L.P. | $11,709,073 | 253,498 | 0.68% | Shares |
| SILVERCREST ASSET MANAGEMENT GROUP LLC | $11,635,030 | 251,895 | 0.67% | Shares |
| PERCEPTIVE ADVISORS LLC | $11,423,341 | 247,312 | 0.66% | Shares |
| BANK OF AMERICA CORP /DE/ | $10,845,273 | 234,797 | 0.63% | Shares |
| BROWN CAPITAL MANAGEMENT LLC | $10,402,311 | 225,207 | 0.60% | Shares |
| Point72 Asset Management, L.P. | $10,375,105 | 224,618 | 0.60% | Shares |
| DAFNA Capital Management LLC | $9,651,862 | 208,960 | 0.56% | Shares |
| Uniplan Investment Counsel, Inc. | $8,956,513 | 193,905 | 0.52% | Shares |
| TOCQUEVILLE ASSET MANAGEMENT L.P. | $8,032,441 | 173,900 | 0.47% | Shares |
| Divisadero Street Capital Management, LP | $7,871,515 | 170,416 | 0.46% | Shares |
| Trexquant Investment LP | $7,142,914 | 154,642 | 0.41% | Shares |
| VICTORY CAPITAL MANAGEMENT INC | $7,092,566 | 153,552 | 0.41% | Shares |
| PERKINS CAPITAL MANAGEMENT INC | $6,828,822 | 147,842 | 0.40% | Shares |
| PRIMORIS WEALTH ADVISORS, LLC | $6,513,207 | 141,009 | 0.38% | Shares |
| Atika Capital Management LLC | $5,955,231 | 128,929 | 0.35% | Shares |
| DISCIPLINED GROWTH INVESTORS INC /MN | $5,905,807 | 127,859 | 0.34% | Shares |
| Verition Fund Management LLC | $5,849,548 | 126,641 | 0.34% | Shares |
| Susquehanna Portfolio Strategies, LLC | $5,828,439 | 126,184 | 0.34% | Shares |
| TWO SIGMA ADVISERS, LP | $5,596,830 | 171,000 | 0.32% | Shares |
| KOTLER KEVIN | $5,498,640 | 168,000 | 0.32% | Shares |
| Swiss National Bank | $4,568,191 | 98,900 | 0.26% | Shares |
| Aubrey Capital Management Ltd | $4,559,739 | 98,700 | 0.26% | Shares |
| Mariner, LLC | $4,249,354 | 91,996 | 0.25% | Shares |
| Lisanti Capital Growth, LLC | $4,183,197 | 90,565 | 0.24% | Shares |
| PRINCIPAL FINANCIAL GROUP INC | $4,162,642 | 90,120 | 0.24% | Shares |
| NEW YORK STATE COMMON RETIREMENT FUND | $4,104,305 | 88,857 | 0.24% | Shares |
| CITIGROUP INC | $4,030,539 | 87,260 | 0.23% | Shares |
| XTX Topco Ltd | $3,748,780 | 81,160 | 0.22% | Shares |
| B. Metzler seel. Sohn & Co. AG | $3,745,917 | 81,098 | 0.22% | Shares |
| RICE HALL JAMES & ASSOCIATES, LLC | $3,413,580 | 73,903 | 0.20% | Shares |
| ROYCE & ASSOCIATES LP | $3,349,514 | 72,516 | 0.19% | Shares |
| KENNEDY CAPITAL MANAGEMENT LLC | $3,261,892 | 70,619 | 0.19% | Shares |
| SummitTX Capital, L.P. | $3,245,078 | 70,255 | 0.19% | Shares |
| Connor, Clark & Lunn Investment Management Ltd. | $3,100,180 | 67,118 | 0.18% | Shares |
| RHUMBLINE ADVISERS | $3,005,480 | 65,068 | 0.17% | Shares |
| GLOBEFLEX CAPITAL L P | $2,701,976 | 58,497 | 0.16% | Shares |
| Soleus Capital Management, L.P. | $2,634,493 | 57,036 | 0.15% | Shares |
| Bank of New York Mellon Corp | $2,574,723 | 55,742 | 0.15% | Shares |
| BARCLAYS PLC | $2,530,750 | 54,790 | 0.15% | Shares |
| ALLIANCEBERNSTEIN L.P. | $2,140,861 | 64,620 | 0.12% | Shares |
| Public Sector Pension Investment Board | $2,109,035 | 45,660 | 0.12% | Shares |
| GABELLI FUNDS LLC | $2,101,645 | 45,500 | 0.12% | Shares |
| Informed Momentum Co LLC | $2,074,254 | 44,907 | 0.12% | Shares |
| Universal- Beteiligungs- und Servicegesellschaft mbH | $2,057,488 | 44,544 | 0.12% | Shares |
| OSAIC HOLDINGS, INC. | $2,056,209 | 44,520 | 0.12% | Shares |
| AMERIPRISE FINANCIAL INC | $2,055,179 | 44,494 | 0.12% | Shares |
| ExodusPoint Capital Management, LP | $2,015,177 | 43,628 | 0.12% | Shares |
| WHITE PINE CAPITAL LLC | $1,997,163 | 43,238 | 0.12% | Shares |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM | $1,958,944 | 59,129 | 0.11% | Shares |
| DEUTSCHE BANK AG\ | $1,902,751 | 41,194 | 0.11% | Shares |
| BlackRock, Inc. | $1,883,952 | 40,787 | 0.11% | Shares |
| Russell Investments Group, Ltd. | $1,689,399 | 36,575 | 0.10% | Shares |
| STONE RUN CAPITAL, LLC | $1,686,344 | 94,526 | 0.10% | Shares |
| VANGUARD ASSET MANAGEMENT, Ltd | $1,652,817 | 35,783 | 0.10% | Shares |
| JANE STREET GROUP, LLC | $1,588,936 | 34,400 | 0.09% | Call option |
| EDMOND DE ROTHSCHILD HOLDING S.A. | $1,468,842 | 31,800 | 0.09% | Shares |
| PANAGORA ASSET MANAGEMENT INC | $1,463,576 | 31,686 | 0.08% | Shares |
| MetLife Investment Management, LLC | $1,417,063 | 30,679 | 0.08% | Shares |
| Vanguard Global Advisers, LLC | $1,390,919 | 30,113 | 0.08% | Shares |
| Burkehill Global Management, LP | $1,385,700 | 30,000 | 0.08% | Shares |
| Keeley-Teton Advisors, LLC | $1,293,668 | 69,928 | 0.07% | Shares |
Company insiders 53 insiders · 26 officers · 22 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| DALE MICHAEL D | Chief Executive Officer | Feb. 26, 2026 A | 63,537 | 0 | 2 | $-2,668,260 |
| Karen L. Zaderej | CEO | March 16, 2024 M | 1,143,788 | 0 | 0 | $0 |
| Timothy P Fitzgerald | CEO & President | March 12, 2004 A | — | 0 | 0 | $0 |
| Lindsey Marie Hartley | CFO | May 7, 2026 M | 65,146 | 0 | 5 | $-942,236 |
| Nir Naor | CFO | Jan. 6, 2025 F | 260,868 | 0 | 0 | $0 |
| Peter J Mariani | EVP & Chief Financial Officer | Dec. 11, 2023 S | 63,603 | 0 | 0 | $0 |
| Doris Quackenbush | Sales VP | May 7, 2026 S | 92,416 | 0 | 1 | $-168,732 |
| Jens Kemp | Chief Marketing Officer | May 7, 2026 S | 72,451 | 0 | 2 | $-428,309 |
| Erick Wayne Devinney | Chief Innovation Officer | March 16, 2026 M | 262,781 | 0 | 3 | $-799,106 |
| Angelo Scopelianos | Chief R&D Officer | March 16, 2024 M | 57,994 | 0 | 0 | $0 |
| Donovan Michael Patrick | VP Operations | March 16, 2024 M | 54,250 | 0 | 0 | $0 |
| Maria D. Martinez | Chief Human Resources Officer | Oct. 13, 2023 D | 30,476 | 0 | 0 | $0 |
| Bradley Ottinger | General Counsel and CCO | March 16, 2023 M | 23,627 | 0 | 0 | $0 |
| Isabelle Billet | Chief Strategy and BD Officer | Dec. 27, 2022 M | 25,065 | 0 | 0 | $0 |
| Eric Sandberg | Chief Commercial Officer | July 19, 2022 D | 16,081 | 0 | 0 | $0 |
| Mark Louis Friedman | VP Regulatory Affairs & Policy | March 16, 2022 A | 24,343 | 0 | 0 | $0 |
| David K Hansen | VP Finance & Treasurer | May 13, 2019 S | 25,588 | 0 | 0 | $0 |
| Jon S. Gingrich | Chief Commercial Officer | Feb. 15, 2019 F | 4,190 | 0 | 0 | $0 |
| Shawn F Mccarrey | SVP Sales | Aug. 7, 2018 M | 82,921 | 0 | 0 | $0 |
| Kevin Leach | Vice President Marketing | Dec. 18, 2017 A | 2,000 | 0 | 0 | $0 |
| John P Engels | VP | Oct. 7, 2016 P | 98,425 | 0 | 0 | $0 |
| Lee Robert Johnston Jr | Chief Finacial Officer | June 2, 2015 P | 25,000 | 0 | 0 | $0 |
| Jill F Schiaparelli | Chief Marketing Officer | Dec. 29, 2014 A | 12,750 | 0 | 0 | $0 |
| Bradley Jay Hedger | Vice President, Sales | Dec. 16, 2011 A | — | 0 | 0 | $0 |
| John D Legray | V.P.-Qual. Assur. & Reg. Aff. | March 12, 2004 A | — | 0 | 0 | $0 |
| Timothy R J Quinn | VP, Genl Mgr-Consumer Products | Jan. 24, 2004 J | — | 0 | 0 | $0 |
| Joseph A. Tyndall | Director | June 24, 2026 A | 14,150 | 0 | 2 | $-777,846 |
| Alan M Levine | Director | June 24, 2026 A | 50,893 | 0 | 0 | $0 |
| William P. Mr. Burke | Director | June 24, 2026 A | 14,250 | 0 | 13 | $-2,821,521 |
| John Johnson | Director | June 24, 2026 A | 14,150 | 0 | 0 | $0 |
| Paul Thomas | Director | June 24, 2026 A | 32,395 | 0 | 1 | $-633,624 |
| Guido J Neels | Director | June 9, 2025 S | 86,743 | 0 | 0 | $0 |
| Gregory Gene Freitag | Director | June 4, 2024 M | 283,498 | 0 | 0 | $0 |
| Mark Stephen Gold | Director | June 1, 2022 A | 305,475 | 0 | 0 | $0 |
| Quentin S. Blackford | Director | March 30, 2022 M | 27,335 | 0 | 0 | $0 |
| Jamie Mark Grooms | Director | Sept. 20, 2018 M | 18,693 | 0 | 0 | $0 |
| Lisa N Colleran | Director | July 9, 2018 A | — | 0 | 0 | $0 |
| Joseph M Mandato | Director | Aug. 9, 2016 S | 1,226,773 | 0 | 0 | $0 |
| John Frederick Harper | Director | Jan. 2, 2015 A | 214,094 | 0 | 0 | $0 |
| Elmer Salovich | Director | Feb. 18, 2011 A | — | 0 | 0 | $0 |
| Lowell Waldo Hellervik | Director | Jan. 26, 2011 A | — | 0 | 0 | $0 |
| Kevin Christopher Worms-Lynch | Director | Nov. 1, 2010 A | — | 0 | 0 | $0 |
| Timothy Michael Heaney | Director | Nov. 1, 2010 A | — | 0 | 0 | $0 |
| Sanford M Brink | Director | Nov. 1, 2010 A | — | 0 | 0 | $0 |
| Andrew C Rollwagen | Director | Sept. 26, 2008 A | — | 0 | 0 | $0 |
| Daniel C Sigg | Director | Sept. 26, 2008 A | — | 0 | 0 | $0 |
| Judd A Berlin | Director | Sept. 26, 2008 A | — | 0 | 0 | $0 |
| Essex Woodlands Fund IX, L.P. | 10% owner | Nov. 20, 2017 S | 3,711,111 | 0 | 0 | $0 |
| Larry Hopfenspirger | 10% owner | Sept. 28, 2011 P | 426,066 | 0 | 0 | $0 |
| Amy Mcbride Wendell | — | Aug. 11, 2026 M | 107,976 | 0 | 5 | $-1,997,092 |
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 |
|---|---|---|---|---|---|
| CHP II, L.P., CHP II Management, LLC, John K. Clarke, Brandon H. Hull, John J. Park ×2 filings | Feb. 4, 2016 | — | Initial filing | — | SEC |
| Utility Service Holding Company, Inc. | Aug. 21, 2014 | — | Initial filing | — | SEC |
| PDL BioPharma, Inc. | Aug. 19, 2013 | — | Initial filing | — | SEC |
| De Novo Ventures II, L.P., De Novo Management II, LLC | Oct. 11, 2011 | — | Initial filing | Passive investment | SEC |
| Ramanathan Periakaruppan | July 8, 2010 | — | Initial filing | — | SEC |
| Sanford M. Brink, Linda Kay Brink | July 10, 2009 | — | Initial filing | — | SEC |
| Larry Hopfenspirger | April 3, 2009 | — | 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 43 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 |
|---|---|---|---|---|
| HTEC · EXCHANGE TRADED CONCEPTS TRUST | 3.16% | 38,954 NS | April 30, 2026 | N-PORT |
| IBRN · iShares Trust | 2.33% | 4,054 SH | Aug. 8, 2026 | Daily |
| PTH · Invesco Exchange-Traded Fund Trust | 2.18% | 115,824 SH | Aug. 8, 2026 | Daily |
| FYC · First Trust Exchange-Traded AlphaDE… | 0.58% | 140,989 NS | April 30, 2026 | N-PORT |
| DWAS · Invesco Exchange-Traded Fund Trust … | 0.43% | 41,980 SH | Aug. 8, 2026 | Daily |
| IHI · iShares Trust | 0.33% | 252,461 SH | Aug. 8, 2026 | Daily |
| ESSC · Strategy Shares | 0.30% | 1,814 NS | April 30, 2026 | N-PORT |
| FYX · First Trust Exchange-Traded AlphaDE… | 0.30% | 83,821 NS | April 30, 2026 | N-PORT |
| AFSM · First Trust Exchange-Traded Fund VI… | 0.28% | 7,098 NS | May 31, 2026 | N-PORT |
| MMSC · First Trust Exchange-Traded Fund VI… | 0.25% | 3,269 NS | May 31, 2026 | N-PORT |
| VFMO · VANGUARD WELLINGTON FUND | 0.15% | 65,979 SH | Aug. 8, 2026 | Daily |
| IWO · iShares Trust | 0.14% | 477,766 SH | Aug. 8, 2026 | Daily |
| VTWG · VANGUARD SCOTTSDALE FUNDS | 0.14% | 56,448 SH | Aug. 8, 2026 | Daily |
| FAD · First Trust Exchange-Traded AlphaDE… | 0.12% | 13,144 NS | April 30, 2026 | N-PORT |
| IWM · iShares Trust | 0.07% | 1,345,896 SH | Aug. 8, 2026 | Daily |
| ISCG · iShares Trust | 0.07% | 15,941 SH | Aug. 8, 2026 | Daily |
| VTWO · VANGUARD SCOTTSDALE FUNDS | 0.07% | 303,149 SH | Aug. 8, 2026 | Daily |
| GSSC · Goldman Sachs ETF Trust | 0.07% | 16,434 NS | May 31, 2026 | N-PORT |
| RSSL · Global X Funds | 0.06% | 20,925 NS | April 30, 2026 | N-PORT |
| ESML · iShares Trust | 0.05% | 31,324 SH | Aug. 8, 2026 | Daily |
| ITWO · ProShares Trust | 0.05% | 2,273 NS | May 31, 2026 | N-PORT |
| SCHA · SCHWAB STRATEGIC TRUST | 0.04% | 240,900 NS | May 31, 2026 | N-PORT |
| ISCB · iShares Trust | 0.04% | 2,291 SH | Aug. 8, 2026 | Daily |
| PRFZ · Invesco Exchange-Traded Fund Trust | 0.03% | 20,454 SH | Aug. 8, 2026 | Daily |
| FHLC · FIDELITY COVINGTON TRUST | 0.03% | 21,500 NS | April 30, 2026 | N-PORT |
| VXF · VANGUARD INDEX FUNDS | 0.03% | 609,572 SH | Aug. 8, 2026 | Daily |
| VHT · VANGUARD WORLD FUND | 0.03% | 148,329 SH | Aug. 8, 2026 | Daily |
| UWM · ProShares Trust | 0.03% | 1,778 NS | May 31, 2026 | N-PORT |
| DFAS · Dimensional ETF Trust | 0.02% | 74,360 NS | April 30, 2026 | N-PORT |
| URTY · ProShares Trust | 0.02% | 1,802 NS | May 31, 2026 | N-PORT |
| WSML · iShares Trust | 0.02% | 2,915 SH | Aug. 8, 2026 | Daily |
| MSSM · MORGAN STANLEY PATHWAY FUNDS | 0.01% | 1,795 NS | May 31, 2026 | N-PORT |
| HDG · ProShares Trust | 0.01% | 45 NS | May 31, 2026 | N-PORT |
| ONEQ · Fidelity Commonwealth Trust | 0.01% | 15,255 NS | May 31, 2026 | N-PORT |
| ITOT · iShares Trust | 0.00% | 73,171 SH | Aug. 8, 2026 | Daily |
| SCHB · SCHWAB STRATEGIC TRUST | 0.00% | 32,765 NS | May 31, 2026 | N-PORT |
| IWV · iShares Trust | 0.00% | 11,152 SH | Aug. 8, 2026 | Daily |
| DFSU · Dimensional ETF Trust | 0.00% | 911 NS | April 30, 2026 | N-PORT |
| DCOR · Dimensional ETF Trust | 0.00% | 821 NS | April 30, 2026 | N-PORT |
| DFUS · Dimensional ETF Trust | 0.00% | 2,952 NS | April 30, 2026 | N-PORT |
| DFAU · Dimensional ETF Trust | 0.00% | 1,103 NS | April 30, 2026 | N-PORT |
| VTI · VANGUARD INDEX FUNDS | 0.00% | 1,596,639 SH | Aug. 8, 2026 | Daily |
| VTHR · VANGUARD SCOTTSDALE FUNDS | 0.00% | 4,360 SH | Aug. 8, 2026 | Daily |