BFLY Butterfly Network, Inc. Class A Common Stock
$9.32
Price · Aug 18, 2026
Fundamentals as of Jul 30, 2026
52W Range
$1–$10
92% of range
Analyst Rating
BUY
11 analysts
Price Target
$9
P/E (TTM)
-12.3
ROE
-35.9%
Net Profit Margin
-79.0%
BFLY Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$9.32
Market Cap
—
P/E (TTM)
-12.3
EPS (TTM)
$-0.31
Revenue (TTM)
$98M
Div Yield
—
ROE
-35.9%
Debt/Equity
—
52W Range
$1 – $10
BFLY 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
$98M
2019-12-31
→
2025-12-31
EPS
$-0.31
2019-12-31
→
2025-12-31
Free Cash Flow
$-16M
2022-12-31
→
2025-12-31
Margins
-79.0%
2022-12-31
→
2025-12-31
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Metric
5Y trend
BFLY
Peer Median
P/E (TTM)
-12.3
33.1
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Metric
5Y trend
BFLY
Peer Median
Gross Margin
46.9%
57.8%
Operating Margin
-88.5%
—
Net Profit Margin
-79.0%
2.5%
ROA
-27.9%
1.8%
ROE
-35.9%
2.6%
ROIC
-44.2%
—
Financial Health Debt, liquidity, solvency — balance sheet strength
Metric
5Y trend
BFLY
Peer Median
Current Ratio
3.8
5.9
Quick Ratio
2.7
—
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Metric
5Y trend
BFLY
Peer Median
Revenue YoY
19.0%
—
Revenue CAGR 3Y
10.0%
—
Revenue CAGR 5Y
16.1%
—
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
Metric
5Y trend
BFLY
Peer Median
BFLY Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
BUY
11 analysts
- Strong Buy 3 27.3%
- Buy 7 63.6%
- Hold 1 9.1%
- Sell 0 0.0%
- Strong Sell 0 0.0%
12-Month Price Target
4 analysts · 2026-08-19
Median
$10.50
Mean
$9.31
Now
$9.32
Low
$5.25
High
$11.00
Median target
$10.50
+12.7%
Mean target
$9.31
-0.1%
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 | $-0.05 | $-0.06 | 0.01% |
| March 31, 2026 | $-0.05 | $-0.07 | 0.02% |
| Dec. 31, 2025 | $-0.06 | $-0.06 | 0.00% |
| Sept. 30, 2025 | $-0.13 | $-0.07 | -0.06% |
| June 30, 2025 | $-0.06 | $-0.07 | 0.01% |
| March 31, 2025 | $-0.06 | $-0.09 | 0.03% |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| BFLY | — | -12.3 | 19.0% | -79.0% | -35.9% | 46.9% |
| PLSE | — | — | — | — | — | — |
| TMDX | $4.17B | 25.0 | 37.1% | 31.4% | 48.1% | 59.9% |
| AXGN | $1.54B | -96.3 | 20.2% | -7.0% | -13.0% | 74.3% |
| 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% |
| OMCL | $2.04B | 1132.5 | 6.5% | 0.17% | 0.16% | 42.5% |
| INSP | $2.64B | 18.9 | 13.6% | 16.0% | 19.9% | 85.4% |
| KMTS | $1.21B | -8.5 | 59.0% | -138.4% | -62.1% | 51.4% |
| TNDM | $1.50B | -7.2 | 7.9% | -20.2% | -141.9% | 53.8% |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement 18
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $98M | $82M | $66M | $73M | $63M | $46M | $28M | |
| Cost of Revenue | $52M | $33M | $49M | $34M | $46M | $107M | $48M | |
| Gross Profit | $46M | $49M | $17M | $39M | $17M | $-61M | $-21M | |
| R&D Expense | $36M | $38M | $56M | $88M | $74M | $50M | $49M | |
| SG&A Expense | $39M | $40M | $50M | $78M | $86M | $24M | $18M | |
| Operating Expenses | $132M | $123M | $162M | $232M | $210M | $100M | $81M | |
| Operating Income | $-86M | $-74M | $-146M | $-193M | $-193M | $-162M | $-102M | |
| Interest Expense | · | · | · | $2.0K | $651.0K | $1M | · | |
| Interest Income | $6M | $5M | $7M | $3M | $3M | $285.0K | $3M | |
| Other Non-op | $3M | $-13.0K | $-2.0K | $98.0K | $-3M | $-231.0K | $-96.0K | |
| Pretax Income | $-77M | $-73M | $-134M | $-169M | $-32M | $-163M | $-100M | |
| Income Tax | $110.0K | $-32.0K | $82.0K | $42.0K | $121.0K | $39.0K | · | |
| Net Income | $-77M | $-72M | $-134M | $-169M | $-32M | $-163M | $-100M | |
| EPS (Basic) | $-0.31 | $-0.34 | $-0.65 | $-0.84 | $-0.19 | $-26.87 | $-17.08 | |
| EPS (Diluted) | $-0.31 | $-0.34 | $-0.65 | $-0.84 | $-0.19 | $-26.87 | $-17.08 | |
| Shares (Basic) | 247,124,365 | 211,682,760 | 205,385,544 | 199,848,386 | 173,810,053 | 6,056,574 | 5,838,103 | |
| Shares (Diluted) | 247,124,365 | 211,682,760 | 205,385,544 | 199,848,386 | 173,810,053 | 6,056,574 | 5,838,103 | |
| EBITDA | $-80M | $-66M | $-137M | $-187M | · | $-4M | · |
Balance Sheet 21
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $150M | $89M | $134M | $163M | $423M | $60M | $90M | |
| Short-term Investments | · | · | · | $75M | · | · | · | |
| Receivables | $27M | $21M | $13M | $15M | $12M | $6M | · | |
| Inventory | $61M | $71M | $73M | $60M | $36M | $26M | · | |
| Prepaid Expense | $8M | $7M | $8M | $9M | $13M | $3M | · | |
| Current Assets | $249M | $193M | $231M | $357M | $512M | $97M | · | |
| PP&E (Net) | $17M | $20M | $25M | $31M | $15M | $7M | · | |
| PP&E (Gross) | $50M | $46M | $44M | $42M | $20M | $10M | · | |
| Accum. Depreciation | $33M | $27M | $18M | $11M | $5M | $3M | · | |
| Intangibles | $8M | $9M | $10M | · | · | · | · | |
| Other Non-current Assets | $6M | $6M | $6M | $8M | $8M | $6M | · | |
| Total Assets | $297M | $256M | $304M | $418M | $572M | $147M | · | |
| Accounts Payable | $5M | $4M | $5M | $7M | $6M | $16M | · | |
| Current Liabilities | $65M | $48M | $44M | $51M | $50M | $70M | · | |
| Capital Leases | $18M | $20M | $23M | $30M | $28M | · | · | |
| Other Non-current Liabilities | $8M | $9M | $9M | $588.0K | $850.0K | $2M | · | |
| Total Liabilities | $101M | $87M | $84M | $92M | $124M | $148M | · | |
| Paid-in Capital | $1.08B | $971M | $950M | $921M | $875M | $33M | · | |
| Retained Earnings | $-879M | $-802M | $-730M | $-596M | $-427M | $-395M | · | |
| Stockholders' Equity | $196M | $169M | $220M | $325M | $448M | $-362M | $-212M | |
| Liabilities + Equity | $297M | $256M | $304M | $418M | $572M | $147M | · |
Cash Flow 15
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| D&A | $7M | $9M | $9M | $6M | $2M | $1M | $758.0K | |
| Stock-based Comp | $23M | $21M | $27M | $43M | $48M | $11M | $6M | |
| Deferred Tax | $0 | $-316.0K | $-162.0K | · | · | · | · | |
| Amort. of Intangibles | · | · | · | $3M | $500.0K | · | · | |
| Other Non-cash | $34M | $853.0K | $-1M | $-49M | · | · | · | |
| Operating Cash Flow | $-13M | $-42M | $-99M | $-169M | $-189M | $-82M | $-120M | |
| CapEx | $3M | $3M | $6M | $18M | $8M | $2M | $4M | |
| Investing Cash Flow | $-3M | $-3M | $70M | $-94M | $-10M | $-2M | $-4M | |
| Stock Issued | $81M | $0 | $0 | · | · | $25.0K | · | |
| Net Stock Activity | $81M | · | · | · | · | $25.0K | · | |
| Financing Cash Flow | $78M | $-1M | $228.0K | $3M | $566M | $54M | $324.0K | |
| Net Change in Cash | $62M | $-46M | $-28M | $-260M | $367M | $-30M | $-125M | |
| Taxes Paid | $101.0K | $99.0K | $99.0K | · | · | $22.0K | · | |
| Free Cash Flow | $-16M | $-44M | $-105M | $-187M | · | · | · | |
| Levered FCF | · | · | · | $-187M | · | · | · |
Profitability 8
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 46.9% | 59.5% | 25.6% | 53.8% | · | · | · | |
| Operating Margin | -88.5% | -90.7% | -221.0% | -263.0% | · | · | · | |
| Net Margin | -79.0% | -88.3% | -202.9% | -229.9% | · | · | · | |
| Pretax Margin | -78.8% | -88.4% | -202.8% | -229.8% | · | · | · | |
| EBITDA Margin | -81.7% | -79.8% | -207.8% | -254.9% | · | · | · | |
| ROA | -27.9% | -25.9% | -37.0% | -34.1% | · | -31.9% | · | |
| ROE | -35.9% | -41.3% | -56.0% | -50.4% | · | 78.0% | · | |
| ROIC | -44.2% | -44.0% | -66.2% | -59.3% | · | -75.5% | · |
Liquidity & Solvency 3
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Current Ratio | 3.8 | 4.0 | 5.2 | 7.0 | · | 0.1 | · | |
| Quick Ratio | 2.7 | 2.3 | 3.3 | 4.9 | · | 0.1 | · | |
| Interest Coverage | · | · | · | -96510.0 | · | · | · |
Efficiency 3
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.4 | 0.3 | 0.2 | 0.1 | · | · | · | |
| Inventory Turnover | 0.8 | 0.5 | 0.7 | 0.7 | · | · | · | |
| Receivables Turnover | 4.1 | 4.8 | 4.7 | 5.5 | · | · | · |
Growth Rates 3
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Revenue YoY | 19.0% | 24.5% | -10.2% | 17.3% | 35.3% | · | · | |
| Revenue CAGR 3Y | 10.0% | 9.5% | 12.5% | · | · | · | · | |
| Revenue CAGR 5Y | 16.1% | · | · | · | · | · | · |
Valuation (TTM) 4
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $98M | $82M | $66M | $73M | $63M | $46M | · | |
| Net Income TTM | $-77M | $-72M | $-134M | $-169M | $-32M | $-163M | · | |
| P/E | -12.3 | -9.2 | -1.7 | -2.9 | -35.2 | -0.7 | · | |
| Earnings Yield | -8.2% | -10.9% | -60.2% | -34.2% | -2.8% | -135.8% | · |
Income Statement 18
| 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 | $33M | $27M | $32M | $21M | $23M | $21M | $22M | $21M | $21M | $18M | $17M | $15M | $18M | $15M | $19M | $20M | |
| Cost of Revenue | $9M | $8M | $10M | $25M | $8M | $8M | $9M | $8M | $9M | $7M | $29M | $6M | $8M | $6M | $9M | $9M | |
| Gross Profit | $23M | $18M | $21M | $-4M | $15M | $13M | $14M | $12M | $13M | $10M | $-13M | $9M | $11M | $9M | $10M | $11M | |
| R&D Expense | $11M | $10M | $9M | $9M | $8M | $10M | $9M | $9M | $9M | $11M | $11M | $12M | $16M | $17M | $19M | $22M | |
| SG&A Expense | $11M | $11M | $11M | $9M | $9M | $10M | $10M | $9M | $10M | $10M | $12M | $12M | $15M | $11M | $24M | $17M | |
| Operating Expenses | $37M | $32M | $38M | $31M | $31M | $32M | $31M | $29M | $30M | $33M | $34M | $42M | $42M | $44M | $59M | $57M | |
| Operating Income | $-14M | $-14M | $-17M | $-35M | $-16M | $-18M | $-17M | $-17M | $-17M | $-23M | $-47M | $-33M | $-31M | $-35M | $-49M | $-46M | |
| Interest Expense | · | · | · | · | · | · | · | · | · | $300.0K | · | · | · | · | · | $2.0K | |
| Interest Income | $1M | $1M | $1M | $1M | $2M | $2M | $997.0K | $1M | $1M | $2M | $2M | $2M | $2M | $2M | $2M | $1M | |
| Other Non-op | $-43.0K | $-124.0K | $-55.0K | $-86.0K | $531.0K | $2M | $-530.0K | $717.0K | $-59.0K | $-141.0K | $258.0K | $-217.0K | $-60.0K | $17.0K | $1M | $-898.0K | |
| Pretax Income | $-13M | $-13M | $-15M | $-34M | $-14M | $-14M | $-18M | $-17M | $-16M | $-22M | $-44M | $-27M | $-29M | $-33M | $-34M | $-55M | |
| Income Tax | $0 | $0 | $67.0K | $16.0K | $20.0K | $7.0K | $-110.0K | $58.0K | $17.0K | $3.0K | $-1.0K | $2.0K | $-6.0K | $87.0K | $-25.0K | $27.0K | |
| Net Income | $-13M | $-13M | $-15M | $-34M | $-14M | $-14M | $-18M | $-17M | $-16M | $-22M | $-44M | $-27M | $-29M | $-34M | $-34M | $-55M | |
| EPS (Basic) | $-0.05 | $-0.05 | $-0.06 | $-0.13 | $-0.06 | $-0.06 | $-0.09 | $-0.08 | $-0.07 | $-0.10 | $-0.21 | $-0.13 | $-0.14 | $-0.17 | $-0.17 | $-0.27 | |
| EPS (Diluted) | $-0.05 | $-0.05 | $-0.06 | $-0.13 | $-0.06 | $-0.06 | $-0.09 | $-0.08 | $-0.07 | $-0.10 | $-0.21 | $-0.13 | $-0.14 | $-0.17 | $-0.17 | $-0.27 | |
| Shares (Basic) | 262,100,993 | 256,516,256 | -488,280,523 | 252,087,541 | 248,393,811 | 234,923,536 | -421,628,328 | 212,774,085 | 211,663,554 | 208,873,449 | -408,815,908 | 206,740,234 | 204,895,341 | 202,565,877 | -398,723,911 | 200,172,683 | |
| Shares (Diluted) | 262,100,993 | 256,516,256 | -488,280,523 | 252,087,541 | 248,393,811 | 234,923,536 | -421,628,328 | 212,774,085 | 211,663,554 | 208,873,449 | -408,815,908 | 206,740,234 | 204,895,341 | 202,565,877 | -398,723,911 | 200,172,683 | |
| EBITDA | $-14M | $-14M | · | $-35M | $-16M | $-18M | · | $-17M | $-17M | $-23M | · | $-33M | $-31M | $-33M | · | $-46M |
Balance Sheet 22
| 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 | $125M | $138M | $150M | $144M | $148M | $155M | $89M | $94M | $102M | $113M | · | $150M | $167M | $194M | · | $193M | |
| Short-term Investments | · | · | · | · | · | · | · | · | · | · | · | · | · | · | · | $75M | |
| Receivables | $35M | $25M | $27M | $24M | $25M | $20M | $21M | $21M | $16M | $14M | · | $14M | $18M | $13M | · | $12M | |
| Inventory | $59M | $59M | $61M | $62M | $69M | $69M | $71M | $73M | $74M | $74M | · | $94M | $87M | $69M | · | $58M | |
| Prepaid Expense | $18M | $14M | $8M | $8M | $8M | $7M | $7M | $7M | $8M | $8M | · | $8M | $10M | $13M | · | $14M | |
| Current Assets | $238M | $240M | $249M | $241M | $254M | $257M | $193M | $199M | $204M | $213M | · | $269M | $292M | $323M | · | $372M | |
| PP&E (Net) | $16M | $16M | $17M | $17M | $17M | $18M | $20M | $21M | $23M | $24M | · | $26M | $29M | $30M | · | $31M | |
| PP&E (Gross) | $51M | $50M | $50M | $49M | $48M | $47M | $46M | $46M | $45M | $45M | · | $43M | $45M | $44M | · | $41M | |
| Accum. Depreciation | $36M | $34M | $33M | $32M | $31M | $29M | $27M | $25M | $23M | $20M | · | $17M | $15M | $13M | · | $9M | |
| Intangibles | $7M | $7M | $8M | $8M | $8M | $9M | $9M | $9M | $10M | $10M | · | · | · | · | · | · | |
| Other Non-current Assets | $6M | $6M | $6M | $6M | $6M | $6M | $6M | $6M | $6M | $6M | · | $6M | $8M | $8M | · | $7M | |
| Total Assets | $283M | $286M | $297M | $290M | $313M | $318M | $256M | $265M | $273M | $284M | · | $334M | $365M | $382M | · | $443M | |
| Accounts Payable | $4M | $3M | $5M | $3M | $3M | $2M | $4M | $4M | $5M | $6M | · | $8M | $8M | $5M | · | $3M | |
| Accrued Liabilities | $10M | $6M | · | · | · | · | · | · | · | · | · | · | · | · | · | · | |
| Current Liabilities | $59M | $60M | $65M | $50M | $45M | $42M | $48M | $43M | $41M | $42M | · | $45M | $46M | $45M | · | $46M | |
| Capital Leases | $16M | $17M | $18M | $18M | $19M | $20M | $20M | $21M | $22M | $22M | · | $23M | $29M | $29M | · | $30M | |
| Other Non-current Liabilities | $9M | $8M | $8M | $10M | $9M | $9M | $9M | $11M | $9M | $8M | · | $1M | $1M | $1M | · | $626.0K | |
| Total Liabilities | $94M | $95M | $101M | $86M | $80M | $79M | $87M | $83M | $79M | $80M | · | $77M | $87M | $86M | · | $100M | |
| Paid-in Capital | $1.09B | $1.08B | $1.08B | $1.07B | $1.06B | $1.06B | $971M | $966M | $961M | $955M | · | $943M | $936M | $926M | · | $906M | |
| Retained Earnings | $-905M | $-892M | $-879M | $-864M | $-830M | $-816M | $-802M | $-784M | $-767M | $-751M | · | $-686M | $-658M | $-629M | · | $-562M | |
| Stockholders' Equity | $189M | $191M | $196M | $204M | $233M | $240M | $169M | $182M | $194M | $204M | $220M | $257M | $278M | $296M | $325M | $344M | |
| Liabilities + Equity | $283M | $286M | $297M | $290M | $313M | $318M | $256M | $265M | $273M | $284M | · | $334M | $365M | $382M | · | $443M |
Cash Flow 12
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | · | · | · | · | · | · | · | · | · | · | · | · | $2M | $2M | $2M | $2M | |
| Stock-based Comp | $7M | $6M | $6M | $5M | $6M | $6M | $5M | $4M | $6M | $6M | $7M | $7M | $10M | $4M | $15M | $9M | |
| Other Non-cash | · | · | · | · | · | · | · | · | · | · | · | · | · | $-16M | · | · | |
| Operating Cash Flow | $-16M | $-14M | $9M | $-3M | $-7M | $-12M | $-3M | $-8M | $-10M | $-21M | $-13M | $-16M | $-26M | $-43M | $-29M | $-42M | |
| CapEx | $974.0K | $950.0K | $1M | $1M | $896.0K | $353.0K | $408.0K | $414.0K | $734.0K | $1M | $3M | $1M | $881.0K | $1M | $2M | $5M | |
| Investing Cash Flow | $-974.0K | $-950.0K | $-1M | $-1M | $-896.0K | $-353.0K | $-408.0K | $-413.0K | $-699.0K | $-1M | $-3M | $-1M | $-881.0K | $75M | $-2M | $-80M | |
| Stock Issued | $0 | $0 | $0 | $0 | $-103.0K | $81M | $0 | $0 | $0 | $0 | · | · | · | · | · | · | |
| Net Stock Activity | · | $0 | · | · | · | $81M | · | · | · | · | · | · | · | · | · | · | |
| Financing Cash Flow | $4M | $2M | $-2M | $0 | $987.0K | $78M | $-1M | $0 | $0 | $0 | $0 | $92.0K | $136.0K | $0 | $137.0K | $2M | |
| Net Change in Cash | $-13M | $-13M | $6M | $-4M | $-7M | $66M | $-5M | $-8M | $-11M | $-22M | $-16M | $-17M | $-27M | $32M | $-31M | $-120M | |
| Free Cash Flow | · | $-15M | · | · | · | $-12M | · | · | · | $-22M | · | · | · | $-45M | · | · | |
| Levered FCF | · | · | · | · | · | · | · | · | · | $-22M | · | · | · | · | · | · |
Profitability 8
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 71.4% | 68.9% | · | -17.5% | 63.7% | 63.0% | · | 59.5% | 58.6% | 58.2% | · | 60.8% | 59.1% | 58.7% | · | 56.0% | |
| Operating Margin | -41.9% | -52.3% | · | -163.5% | -68.8% | -87.0% | · | -83.9% | -80.2% | -128.1% | · | -211.2% | -169.1% | -226.5% | · | -234.6% | |
| Net Margin | -39.6% | -47.8% | · | -158.1% | -59.2% | -65.8% | · | -82.3% | -73.1% | -123.2% | · | -177.5% | -155.1% | -216.7% | · | -279.0% | |
| Pretax Margin | -39.6% | -47.8% | · | -158.0% | -59.1% | -65.8% | · | -82.0% | -73.0% | -123.2% | · | -177.5% | -155.1% | -216.2% | · | -278.9% | |
| EBITDA Margin | -41.9% | -52.3% | · | -163.5% | -68.8% | -87.0% | · | -83.9% | -80.2% | -128.1% | · | -211.2% | -169.1% | -212.8% | · | -234.6% | |
| ROA | -4.3% | -4.2% | · | -12.2% | -4.7% | -4.6% | · | -5.7% | -4.9% | -6.5% | · | -7.0% | -6.7% | -7.3% | · | -10.7% | |
| ROE | -6.1% | -5.9% | · | -17.6% | -6.5% | -6.3% | · | -7.7% | -6.7% | -8.7% | · | -9.1% | -8.6% | -9.5% | · | -13.8% | |
| ROIC | -7.2% | -7.2% | · | -17.2% | -6.9% | -7.7% | · | -9.5% | -8.9% | -11.1% | · | -12.7% | -11.3% | -11.9% | · | -13.4% |
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 | 4.1 | 4.0 | · | 4.8 | 5.7 | 6.1 | · | 4.7 | 5.0 | 5.1 | · | 5.9 | 6.4 | 7.2 | · | 8.1 | |
| Quick Ratio | 2.7 | 2.7 | · | 3.4 | 3.9 | 4.1 | · | 2.7 | 2.9 | 3.0 | · | 3.6 | 4.0 | 4.6 | · | 6.1 | |
| Interest Coverage | · | · | · | · | · | · | · | · | · | -75.4 | · | · | · | · | · | -23016.0 |
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 | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.0 | 0.0 | 0.0 | · | 0.0 | |
| Inventory Turnover | 0.1 | 0.1 | · | 0.4 | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.2 | |
| Receivables Turnover | 1.1 | 1.2 | · | 1.0 | 1.2 | 1.3 | · | 1.2 | 1.3 | 1.3 | · | 1.2 | 1.2 | 1.2 | · | 1.8 |
Valuation (TTM) 4
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $104M | $93M | · | $87M | $87M | $81M | · | $75M | $73M | $67M | · | $69M | $73M | $70M | · | $69M | |
| Net Income TTM | $-73M | $-74M | · | $-79M | $-60M | $-68M | · | $-82M | $-94M | $-111M | · | $-144M | $-153M | $-169M | · | $-149M | |
| P/E | -29.0 | -13.5 | · | -5.8 | -7.4 | -7.4 | · | -4.7 | -1.9 | -2.0 | · | -1.7 | -3.0 | -2.2 | · | -6.4 | |
| Earnings Yield | -3.4% | -7.4% | · | -17.1% | -13.5% | -13.6% | · | -21.5% | -52.3% | -50.0% | · | -60.2% | -33.0% | -44.7% | · | -15.7% |
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 | $98M | $82M | $66M | $73M | $63M |
| Gross Margin % | 46.9% | 59.5% | 25.6% | 53.8% | — |
| Operating Margin % | -88.5% | -90.7% | -221.0% | -263.0% | — |
| Net Income | $-77M | $-72M | $-134M | $-169M | $-32M |
| Diluted EPS | $-0.31 | $-0.34 | $-0.65 | $-0.84 | $-0.19 |
Balance Sheet
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Current Ratio | 3.8 | 4.0 | 5.2 | 7.0 | — |
| Quick Ratio | 2.7 | 2.3 | 3.3 | 4.9 | — |
Cash Flow
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Free Cash Flow | $-16M | $-44M | $-105M | $-187M | — |
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Institutional owners (13F) 271 filers · $1.1B 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 |
|---|---|---|---|---|
| 56 (+1 vs prior Q) | 33 (+16 vs prior Q) | 94 (+22 vs prior Q) | 58 (-3 vs prior Q) | +28.0M |
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 |
|---|---|---|---|---|
| GLENVIEW CAPITAL MANAGEMENT, LLC | $120,701,163 | 14,335,055 | 11.33% | Shares |
| Hood River Capital Management LLC | $111,060,895 | 13,190,130 | 10.42% | Shares |
| Fosun International Ltd | $86,178,052 | 10,234,923 | 8.09% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $72,069,693 | 8,559,346 | 6.76% | Shares |
| D. E. Shaw & Co., Inc. | $53,643,205 | 6,370,927 | 5.03% | Shares |
| STATE STREET CORP | $48,521,698 | 5,762,672 | 4.55% | Shares |
| ARK Investment Management LLC | $42,819,541 | 5,085,456 | 4.02% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $38,354,794 | 4,554,260 | 3.60% | Shares |
| VANGUARD GROUP INC | $37,461,677 | 9,858,336 | 3.52% | Shares |
| AWM Investment Company, Inc. | $37,305,593 | 4,430,593 | 3.50% | Shares |
| FMR LLC | $36,420,289 | 4,325,450 | 3.42% | Shares |
| First Light Asset Management, LLC | $22,249,042 | 2,642,404 | 2.09% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $20,058,452 | 2,382,239 | 1.88% | Shares |
| MILLENNIUM MANAGEMENT LLC | $18,141,319 | 2,154,551 | 1.70% | Shares |
| BANK OF AMERICA CORP /DE/ | $15,330,227 | 1,820,692 | 1.44% | Shares |
| ALGERT GLOBAL LLC | $15,277,644 | 1,814,447 | 1.43% | Shares |
| GOLDMAN SACHS GROUP INC | $15,045,866 | 1,786,920 | 1.41% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $15,028,530 | 1,784,861 | 1.41% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $14,967,510 | 1,777,614 | 1.40% | Shares |
| KINGDON CAPITAL MANAGEMENT, L.L.C. | $14,314,000 | 1,700,000 | 1.34% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $13,919,102 | 1,653,100 | 1.31% | Call option |
| VANGUARD FIDUCIARY TRUST CO | $12,660,489 | 1,503,621 | 1.19% | Shares |
| TWO SIGMA INVESTMENTS, LP | $11,561,039 | 1,373,045 | 1.09% | Shares |
| VOLORIDGE INVESTMENT MANAGEMENT, LLC | $9,070,251 | 1,077,227 | 0.85% | Shares |
| JANE STREET GROUP, LLC | $8,494,938 | 1,008,900 | 0.80% | Call option |
| PERKINS CAPITAL MANAGEMENT INC | $7,305,024 | 867,580 | 0.69% | Shares |
| GILDER GAGNON HOWE & CO LLC | $6,767,929 | 803,792 | 0.64% | Shares |
| RAYMOND JAMES FINANCIAL INC | $6,551,156 | 778,047 | 0.61% | Shares |
| ExodusPoint Capital Management, LP | $6,414,870 | 761,861 | 0.60% | Shares |
| TUDOR INVESTMENT CORP ET AL | $5,312,633 | 630,954 | 0.50% | Shares |
| PEAK6 LLC | $4,761,510 | 565,500 | 0.45% | Call option |
| ISTHMUS PARTNERS, LLC | $4,750,749 | 564,222 | 0.45% | Shares |
| DNB Asset Management AS | $4,693,460 | 557,418 | 0.44% | Shares |
| Palumbo Wealth Management LLC | $4,517,095 | 536,472 | 0.42% | Shares |
| POLEN CAPITAL MANAGEMENT LLC | $4,045,827 | 480,502 | 0.38% | Shares |
| Calamos Advisors LLC | $3,992,789 | 474,203 | 0.37% | Shares |
| Gotham Asset Management, LLC | $3,891,345 | 462,155 | 0.37% | Shares |
| Squarepoint Ops LLC | $3,792,376 | 450,401 | 0.36% | Shares |
| CITADEL ADVISORS LLC | $3,660,174 | 434,700 | 0.34% | Call option |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $3,611,338 | 428,900 | 0.34% | Put option |
| Stoic Point Capital Management LLC | $3,151,076 | 374,237 | 0.30% | Shares |
| Swiss National Bank | $2,988,258 | 354,900 | 0.28% | Shares |
| OPPENHEIMER & CO INC | $2,764,370 | 328,310 | 0.26% | Shares |
| JANE STREET GROUP, LLC | $2,718,818 | 322,900 | 0.26% | Put option |
| CAPTRUST FINANCIAL ADVISORS | $2,530,302 | 300,511 | 0.24% | Shares |
| RHUMBLINE ADVISERS | $2,444,375 | 290,307 | 0.23% | Shares |
| CITIGROUP INC | $2,380,283 | 282,694 | 0.22% | Shares |
| AMERIPRISE FINANCIAL INC | $2,169,371 | 257,645 | 0.20% | Shares |
| IQ EQ FUND MANAGEMENT (IRELAND) Ltd | $2,144,027 | 254,635 | 0.20% | Shares |
| CITADEL ADVISORS LLC | $1,971,964 | 234,200 | 0.19% | Put option |
| Nuveen, LLC | $1,959,915 | 232,769 | 0.18% | Shares |
| BlackRock, Inc. | $1,755,957 | 208,546 | 0.16% | Shares |
| Quent Capital, LLC | $1,755,570 | 208,500 | 0.16% | Shares |
| LPL Financial LLC | $1,722,345 | 204,554 | 0.16% | Shares |
| Zurcher Kantonalbank (Zurich Cantonalbank) | $1,691,208 | 200,856 | 0.16% | Shares |
| Bank of New York Mellon Corp | $1,632,343 | 193,865 | 0.15% | Shares |
| Man Group plc | $1,609,828 | 191,191 | 0.15% | Shares |
| GROUP ONE TRADING LLC | $1,595,102 | 189,442 | 0.15% | Shares |
| TOCQUEVILLE ASSET MANAGEMENT L.P. | $1,471,816 | 174,800 | 0.14% | Shares |
| Green Alpha Advisors, LLC | $1,420,185 | 168,668 | 0.13% | Shares |
| Lotus Technology Management, LP | $1,378,225 | 163,669 | 0.13% | Shares |
| Voleon Capital Management LP | $1,263,303 | 150,036 | 0.12% | Shares |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. | $1,255,489 | 149,108 | 0.12% | Shares |
| Vanguard Global Advisers, LLC | $1,237,176 | 146,933 | 0.12% | Shares |
| FirstWave Capital Management LLC | $1,224,251 | 145,398 | 0.11% | Shares |
| Pathstone Holdings, LLC | $1,215,055 | 145,240 | 0.11% | Shares |
| FRED ALGER MANAGEMENT, LLC | $1,200,052 | 142,524 | 0.11% | Shares |
| VANGUARD ASSET MANAGEMENT, Ltd | $1,151,789 | 136,792 | 0.11% | Shares |
| COMMONWEALTH EQUITY SERVICES, LLC | $1,138,430 | 135,206 | 0.11% | Shares |
| Counterpoint Mutual Funds LLC | $1,136,313 | 134,954 | 0.11% | Shares |
| PRUDENTIAL FINANCIAL INC | $1,117,839 | 132,760 | 0.10% | Shares |
| Skyview Financial Group LLC | $1,053,776 | 277,309 | 0.10% | Shares |
| MetLife Investment Management, LLC | $1,041,419 | 123,684 | 0.10% | Shares |
| XTX Topco Ltd | $1,032,789 | 122,659 | 0.10% | Shares |
| Verition Fund Management LLC | $1,023,712 | 121,581 | 0.10% | Shares |
| MORGAN STANLEY | $981,620 | 116,582 | 0.09% | Shares |
| DAVENPORT & Co LLC | $925,358 | 109,900 | 0.09% | Shares |
| STATE OF WISCONSIN INVESTMENT BOARD | $917,292 | 108,942 | 0.09% | Shares |
| Schonfeld Strategic Advisors LLC | $895,111 | 106,308 | 0.08% | Shares |
| Quantinno Capital Management LP | $842,674 | 100,080 | 0.08% | Shares |
| SBI Securities Co., Ltd. | $840,434 | 99,814 | 0.08% | Shares |
| Walleye Capital LLC | $815,056 | 96,800 | 0.08% | Call option |
| OSAIC HOLDINGS, INC. | $811,721 | 96,405 | 0.08% | Shares |
| RENAISSANCE TECHNOLOGIES LLC | $789,981 | 93,822 | 0.07% | Shares |
| BARCLAYS PLC | $768,122 | 91,226 | 0.07% | Shares |
| ALLIANCEBERNSTEIN L.P. | $762,752 | 188,800 | 0.07% | Shares |
| Graham Capital Management, L.P. | $757,884 | 90,010 | 0.07% | Shares |
| Walleye Trading LLC | $717,333 | 85,194 | 0.07% | Shares |
| Invesco Ltd. | $714,041 | 84,803 | 0.07% | Shares |
| DARK FOREST CAPITAL MANAGEMENT LP | $711,296 | 84,477 | 0.07% | Shares |
| STRS OHIO | $699,702 | 83,100 | 0.07% | Shares |
| Symmetry Investments LP | $673,600 | 80,000 | 0.06% | Call option |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $652,415 | 77,484 | 0.06% | Shares |
| Patten Group, Inc. | $649,898 | 77,185 | 0.06% | Shares |
| OCCUDO QUANTITATIVE STRATEGIES LP | $644,172 | 76,505 | 0.06% | Shares |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ | $636,257 | 75,565 | 0.06% | Shares |
| Permanent Capital Management, LP | $631,500 | 75,000 | 0.06% | Shares |
| LEVIN CAPITAL STRATEGIES, L.P. | $631,500 | 75,000 | 0.06% | Shares |
| Engineers Gate Manager LP | $595,109 | 70,678 | 0.06% | Shares |
| Walleye Capital LLC | $557,732 | 66,239 | 0.05% | Shares |
Company insiders 31 insiders · 19 officers · 9 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Brent Pfeiffenberger | President and CEO | March 7, 2024 A | 1,470,704 | 0 | 0 | $0 |
| Todd Fruchterman | President and CEO | March 4, 2022 A | 1,419,139 | 0 | 0 | $0 |
| John N. Doherty | EVP, CFO | July 20, 2026 S | 1,397,276 | 0 | 2 | $-809,464 |
| Heather C Getz | EVP, CFO & COO | May 5, 2025 S | 2,919,274 | 0 | 0 | $0 |
| Stephanie Fielding | Chief Financial Officer | Feb. 12, 2021 A | 129,788 | 0 | 0 | $0 |
| David Perri | Chief Operating Officer | Feb. 12, 2021 A | — | 0 | 0 | $0 |
| Megan Carlson | CAO and SVP, Finance | July 31, 2026 S | 425,889 | 0 | 3 | $-890,653 |
| Victor Ku | Chief Technology Officer | July 20, 2026 S | 1,015,099 | 0 | 2 | $-598,980 |
| Steve Cashman | Chief Business Officer | June 5, 2026 S | 1,630,407 | 2 | 2 | $-652,065 |
| Andrei G Stoica | Chief Technology Officer | April 1, 2025 S | 1,600,182 | 0 | 0 | $0 |
| Lawrence T Weiss | CLO, GC and Corp Sec | July 5, 2023 S | 1,236,838 | 0 | 0 | $0 |
| Tamara Dillon | Chief People Officer | May 31, 2022 A | 327,868 | 0 | 0 | $0 |
| John David Martin | Chief Medical Officer | March 4, 2022 A | 236,568 | 0 | 0 | $0 |
| Troy Quander | SVP, Regulatory and Quality | March 4, 2022 A | 139,994 | 0 | 0 | $0 |
| Stacey Pugh | Chief Commercial Officer | March 4, 2022 A | 496,232 | 0 | 0 | $0 |
| Mary Miller | General Counsel & Corp Sec | March 4, 2022 A | 328,723 | 0 | 0 | $0 |
| Darius Shahida | CSO & CBDO | March 4, 2022 A | 652,151 | 0 | 0 | $0 |
| Timothy Trodden | Chief Human Resources Officer | April 19, 2021 A | 36,023 | 0 | 0 | $0 |
| Gioel Molinari | EVP & CPO | March 24, 2021 J | 10,112 | 0 | 0 | $0 |
| Rothberg Jonathan M. | Director | July 22, 2026 S | 0 | 0 | 38 | $-74,883,070 |
| Caroll H Neubauer | Director | June 22, 2026 A | 98,617 | 0 | 0 | $0 |
| Erica Schwartz | Director | June 22, 2026 A | 401,699 | 0 | 0 | $0 |
| Elazer R Edelman | Director | June 22, 2026 A | 392,893 | 0 | 0 | $0 |
| Dawn Carfora | Director | June 13, 2025 A | 377,514 | 0 | 0 | $0 |
| Gianluca Pettiti | Director | June 20, 2023 A | 145,191 | 0 | 0 | $0 |
| John H Hammergren | Director | June 17, 2022 A | 61,388 | 0 | 0 | $0 |
| ROBBINS LARRY | — | Aug. 17, 2026 S | 2,964,187 | 7 | 7 | $-23,105,144 |
| Louise S. Phanstiel | — | Aug. 14, 2026 P | 300,461 | 1 | 0 | $999,936 |
| Nicholas Caezza | — | Aug. 11, 2026 S | 300,307 | 0 | 3 | $-107,951 |
| Joseph Devivo | — | Aug. 10, 2026 S | 7,603,700 | 0 | 3 | $-3,684,724 |
| Michael Rothberg | — | March 24, 2021 J | 0 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
Activists & 5%+ owners 4 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 |
|---|---|---|---|---|---|
| GLENVIEW CAPITAL MANAGEMENT, LLC, ROBBINS LARRY ×9 filings | Aug. 17, 2026 | 6.17% | Amendment | — | SEC |
| Rothberg Jonathan M., 4C Holdings I, LLC, 4C Holdings II, LLC, 4C Holdings III, LLC, 4C Holdings IV, LLC, 4C Holdings V, LLC ×7 filings | Aug. 17, 2026 | 100.00% | Amendment | — | SEC |
| Jonathan M. Rothberg, Ph.D., 4C Holdings I, LLC, 4C Holdings II, LLC, 4C Holdings III, LLC, 4C Holdings IV, LLC, 4C Holdings V, LLC ×6 filings | Aug. 30, 2024 | — | Initial filing | — | SEC |
| Michael J. Rothberg, Michael J. Rothberg Family Trust, Michael J Rothberg Cust Justin Rothberg UTMA FL, Molinari Family Children’s Trust u/a/d October 25, 2010, Averill L. Meadow Trust u/a/d November 17, 2016, CRM 2020 GST Trust u/a/d September 15, 2020, Daniel B Rothberg 2020 Irrevocable Directed Trust u/a/d December 11, 2020, Gijami Trust u/a/d September 1, 1988, as amended, HAS 2012 GST Trust u/a/d December 21, 2012, Herschel E. Meadow Trust u/a/d November 17, 2016, Jason B Rothberg 2020 Irrevocable Directed Trust u/a/d December 11, 2020, Simone A. Meadow Trust u/a/d November 17, 2016 ×2 filings | March 26, 2021 | — | Initial filing | — | SEC |
Purpose is an automated classification of the filer's own stated purpose (SEC Item 4) — not investment advice. "—" means no clear purpose was stated or the text could not be classified.
ETF ownership Held by 40 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 |
|---|---|---|---|---|
| ARKG · ARK ETF Trust | 1.89% | 4,889,029 NS | April 30, 2026 | N-PORT |
| HEAL · Global X Funds | 0.86% | 47,318 NS | May 31, 2026 | N-PORT |
| DWAS · Invesco Exchange-Traded Fund Trust … | 0.62% | 317,694 SH | Aug. 8, 2026 | Daily |
| IWC · iShares Trust | 0.40% | 714,099 SH | Aug. 8, 2026 | Daily |
| IHI · iShares Trust | 0.25% | 1,012,986 SH | Aug. 8, 2026 | Daily |
| VFMO · VANGUARD WELLINGTON FUND | 0.17% | 394,690 SH | Aug. 8, 2026 | Daily |
| SMLF · iShares Trust | 0.11% | 561,910 SH | Aug. 8, 2026 | Daily |
| IWO · iShares Trust | 0.11% | 1,896,245 SH | Aug. 8, 2026 | Daily |
| VTWG · VANGUARD SCOTTSDALE FUNDS | 0.10% | 225,739 SH | Aug. 8, 2026 | Daily |
| PRFZ · Invesco Exchange-Traded Fund Trust | 0.08% | 253,091 SH | Aug. 8, 2026 | Daily |
| IWM · iShares Trust | 0.05% | 5,329,233 SH | Aug. 8, 2026 | Daily |
| VTWO · VANGUARD SCOTTSDALE FUNDS | 0.05% | 1,211,661 SH | Aug. 8, 2026 | Daily |
| RSSL · Global X Funds | 0.03% | 84,788 NS | April 30, 2026 | N-PORT |
| OMFS · Invesco Exchange-Traded Self-Indexe… | 0.03% | 8,607 SH | Aug. 8, 2026 | Daily |
| ISCV · iShares Trust | 0.02% | 20,152 SH | Aug. 8, 2026 | Daily |
| ITWO · ProShares Trust | 0.02% | 9,221 NS | May 31, 2026 | N-PORT |
| ISCB · iShares Trust | 0.02% | 7,705 SH | Aug. 8, 2026 | Daily |
| ISCG · iShares Trust | 0.02% | 25,570 SH | Aug. 8, 2026 | Daily |
| VXF · VANGUARD INDEX FUNDS | 0.02% | 2,456,945 SH | Aug. 8, 2026 | Daily |
| VHT · VANGUARD WORLD FUND | 0.02% | 532,248 SH | Aug. 8, 2026 | Daily |
| SCHA · SCHWAB STRATEGIC TRUST | 0.02% | 981,756 NS | May 31, 2026 | N-PORT |
| AVSC · AMERICAN CENTURY ETF TRUST | 0.02% | 99,560 NS | May 31, 2026 | N-PORT |
| FHLC · FIDELITY COVINGTON TRUST | 0.02% | 93,022 NS | April 30, 2026 | N-PORT |
| WSML · iShares Trust | 0.02% | 12,299 SH | Aug. 8, 2026 | Daily |
| UWM · ProShares Trust | 0.01% | 7,212 NS | May 31, 2026 | N-PORT |
| DFAS · Dimensional ETF Trust | 0.01% | 373,791 NS | April 30, 2026 | N-PORT |
| URTY · ProShares Trust | 0.01% | 7,292 NS | May 31, 2026 | N-PORT |
| MSSM · MORGAN STANLEY PATHWAY FUNDS | 0.00% | 8,156 NS | May 31, 2026 | N-PORT |
| HDG · ProShares Trust | 0.00% | 183 NS | May 31, 2026 | N-PORT |
| ITOT · iShares Trust | 0.00% | 323,055 SH | Aug. 8, 2026 | Daily |
| IWV · iShares Trust | 0.00% | 52,832 SH | Aug. 8, 2026 | Daily |
| DFAC · Dimensional ETF Trust | 0.00% | 195,617 NS | April 30, 2026 | N-PORT |
| DFAU · Dimensional ETF Trust | 0.00% | 45,880 NS | April 30, 2026 | N-PORT |
| DCOR · Dimensional ETF Trust | 0.00% | 8,116 NS | April 30, 2026 | N-PORT |
| SCHB · SCHWAB STRATEGIC TRUST | 0.00% | 119,179 NS | May 31, 2026 | N-PORT |
| DFUS · Dimensional ETF Trust | 0.00% | 42,881 NS | April 30, 2026 | N-PORT |
| DXUV · Dimensional ETF Trust | 0.00% | 836 NS | April 30, 2026 | N-PORT |
| VTI · VANGUARD INDEX FUNDS | 0.00% | 5,909,307 SH | Aug. 8, 2026 | Daily |
| VTHR · VANGUARD SCOTTSDALE FUNDS | 0.00% | 17,901 SH | Aug. 8, 2026 | Daily |
| DFSU · Dimensional ETF Trust | 0.00% | 200 NS | April 30, 2026 | N-PORT |