BLND Blend Labs, Inc. Class A Common Stock
$1.50
Price · Aug 19, 2026
Fundamentals as of Aug 6, 2026
52W Range
$1–$4
10% of range
Analyst Rating
BUY
12 analysts
Price Target
$3
+98% upside
P/E (TTM)
-14.4
ROE
31.0%
Net Profit Margin
-5.5%
BLND Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$1.50
Market Cap
$370M
P/E (TTM)
-14.4
EPS (TTM)
$-0.10
Revenue (TTM)
$124M
Div Yield
—
ROE
31.0%
Debt/Equity
—
52W Range
$1 – $4
BLND 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
$124M
2019-12-31
→
2025-12-31
EPS
$-0.10
2019-12-31
→
2025-12-31
Free Cash Flow
$-81.0K
2021-12-31
→
2025-12-31
Margins
-5.5%
2021-12-31
→
2025-12-31
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Metric
5Y trend
BLND
Peer Median
P/E (TTM)
-14.4
88.1
P/S (TTM)
3.0
2.3
P/B
-12.1
3.8
Price / FCF
-4565.0
—
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Metric
5Y trend
BLND
Peer Median
Gross Margin
73.8%
71.2%
Operating Margin
-17.6%
—
Net Profit Margin
-5.5%
-8.1%
ROA
-3.8%
-5.9%
ROE
31.0%
-10.5%
ROIC
91.5%
—
Financial Health Debt, liquidity, solvency — balance sheet strength
Metric
5Y trend
BLND
Peer Median
Current Ratio
2.5
1.9
Quick Ratio
1.7
—
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Metric
5Y trend
BLND
Peer Median
Revenue YoY
6.8%
—
Revenue CAGR 3Y
-19.3%
—
Revenue CAGR 5Y
5.2%
—
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
Metric
5Y trend
BLND
Peer Median
BLND Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
BUY
12 analysts
- Strong Buy 3 25.0%
- Buy 7 58.3%
- Hold 2 16.7%
- Sell 0 0.0%
- Strong Sell 0 0.0%
12-Month Price Target
5 analysts · 2026-08-17
Median
$3.00
← Below all targets
$1.50
Low
$1.80
High
$4.00
Median target
$3.00
+100.7%
Mean target
$2.96
+98.0%
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
-0.01%
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| June 30, 2026 | $0.00 | $0.02 | -0.02% |
| March 31, 2026 | $0.00 | $0.01 | -0.01% |
| Dec. 31, 2025 | $0.00 | $0.01 | -0.01% |
| Sept. 30, 2025 | $0.00 | $0.01 | -0.01% |
| June 30, 2025 | $0.00 | $0.02 | -0.02% |
| March 31, 2025 | $0.01 | $-0.01 | 0.02% |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| BLND | $778M | -30.4 | 6.8% | -5.5% | 31.0% | 73.8% |
| IIIV | — | 45.1 | 16.5% | — | 4.7% | — |
| API | — | — | — | — | — | — |
| CD | — | — | — | — | — | — |
| CRNC | $540M | -29.0 | -24.1% | -7.4% | -12.5% | 72.7% |
| GLOO | $0 | -0.8 | 307.7% | -166.0% | 150.0% | — |
| EGHT | $234M | 166.0 | 2.9% | 0.22% | 1.2% | 64.6% |
| SLNH | $120M | -0.5 | -21.8% | -179.7% | -260.1% | 6.0% |
| LAW | $491M | -10.8 | 8.3% | -28.3% | -33.4% | 74.9% |
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 | $124M | $116M | $110M | $235M | $234M | $96M | $51M | |
| Cost of Revenue | $32M | $33M | $33M | $146M | $119M | $34M | $20M | |
| Gross Profit | $91M | $83M | $76M | $90M | $116M | $62M | $31M | |
| R&D Expense | $33M | $46M | $81M | $138M | $92M | $56M | $49M | |
| SG&A Expense | $50M | $46M | $61M | $139M | $129M | $30M | $27M | |
| Operating Expenses | $113M | $132M | $220M | $836M | $313M | $137M | $113M | |
| Operating Income | $-22M | $-49M | $-144M | $-746M | $-197M | $-75M | $-82M | |
| Interest Expense | · | · | $31M | $25M | $11M | $0 | $0 | |
| Interest Income | $4M | $5M | $11M | $2M | $400.0K | $1M | · | |
| Other Non-op | $21M | $13M | $7M | $5M | $493.0K | $700.0K | $283.0K | |
| Pretax Income | $-878.0K | $-43M | $-167M | $-766M | $-208M | $-75M | $-81M | |
| Income Tax | $249.0K | $109.0K | $94.0K | $-2M | $-39M | $26.0K | $13.0K | |
| Net Income | $-7M | $-43M | $-179M | $-720M | $-170M | $-75M | $-81M | |
| EPS (Basic) | $-0.10 | $-0.24 | $-0.76 | $-3.28 | $-1.30 | $-1.89 | $-2.49 | |
| EPS (Diluted) | $-0.10 | $-0.24 | $-0.76 | $-3.28 | $-1.30 | $-1.89 | $-2.49 | |
| Shares (Basic) | 258,949,000 | 253,921,000 | 245,206,000 | 234,161,000 | 131,985,000 | 39,407,000 | 32,776,000 | |
| Shares (Diluted) | 258,949,000 | 253,921,000 | 245,206,000 | 234,161,000 | 131,985,000 | 39,407,000 | 32,776,000 | |
| EBITDA | $-18M | $-47M | $-154M | $-735M | $-187M | · | · |
Balance Sheet 27
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $45M | $38M | $24M | $124M | $213M | $41M | $23M | |
| Short-term Investments | $25M | $56M | $106M | $230M | $334M | · | · | |
| Prepaid Expense | $17M | $17M | $15M | $19M | $32M | $19M | · | |
| Other Current Assets | $1M | $2M | $2M | $2M | $3M | $1M | · | |
| Current Assets | $100M | $135M | $170M | $396M | $613M | $186M | · | |
| PP&E (Net) | $23M | $12M | $4M | $6M | $6M | $5M | · | |
| PP&E (Gross) | $27M | $13M | $13M | $13M | $11M | $8M | · | |
| Accum. Depreciation | $4M | $1M | $9M | $7M | $5M | $3M | · | |
| Goodwill | · | · | · | $0 | $287M | $0 | · | |
| Intangibles | · | $81.0K | $2M | $2M | $173M | $1M | · | |
| Other Non-current Assets | $41M | $22M | $19M | $10M | $9M | $676.0K | · | |
| Total Assets | $170M | $178M | $206M | $433M | $1.11B | $216M | · | |
| Accounts Payable | $2M | $2M | $2M | $1M | $6M | $3M | · | |
| Accrued Liabilities | $5M | $2M | $4M | $3M | $6M | $2M | · | |
| Current Liabilities | $39M | $39M | $32M | $35M | $60M | $35M | · | |
| Capital Leases | $1M | $0 | $7M | $11M | $15M | $14M | · | |
| Deferred Tax | · | · | · | $0 | $3M | $0 | · | |
| Other Non-current Liabilities | $2M | $278.0K | $2M | $5M | $13M | $3M | · | |
| Total Liabilities | $41M | $40M | $179M | $269M | $302M | $52M | · | |
| Long-term Debt | $0 | $0 | $138M | $217M | $214M | $0 | · | |
| Common Stock | $2.0K | $2.0K | $2.0K | $2.0K | $2.0K | $1.0K | · | |
| Paid-in Capital | $1.36B | $1.33B | $1.32B | $1.29B | $1.22B | $51M | · | |
| Retained Earnings | $-1.39B | $-1.38B | $-1.34B | $-1.16B | $-443M | $-273M | · | |
| AOCI | $597.0K | $602.0K | $441.0K | $-708.0K | $-808.0K | $-5.0K | · | |
| Stockholders' Equity | $-30M | $-56M | $-19M | $123M | $775M | $163M | $135M | |
| Liabilities + Equity | $170M | $178M | $206M | $433M | $1.11B | $216M | · | |
| Shares Outstanding | 256,043,000 | 258,173,000 | 249,910,000 | 240,931,000 | 230,324,000 | 47,948,000 | · |
Cash Flow 17
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| D&A | $3M | $1M | $2M | $11M | $11M | $4M | $5M | |
| Stock-based Comp | $29M | $28M | $46M | $110M | $71M | $10M | $10M | |
| Deferred Tax | $0 | $34.0K | $-34.0K | $-3M | $-39M | $0 | $0 | |
| Amort. of Intangibles | · | $0 | $0 | $8M | $9M | $3M | $4M | |
| Restructuring | $871.0K | $6M | $20M | $15M | $0 | $0 | · | |
| Other Non-cash | $-14M | $-99.0K | $3M | $412M | $269.0K | · | · | |
| Operating Cash Flow | $12M | $-13M | $-128M | $-190M | $-128M | $-65M | $-59M | |
| CapEx | $12M | $10M | $35.0K | $2M | $2M | $1M | $580.0K | |
| Investing Cash Flow | $19M | $45M | $127M | $99M | $-634M | $-8M | $-66M | |
| Net Debt Issued | $0 | $-144M | $-85M | · | · | · | · | |
| Stock Repurchased | $25M | $0 | $0 | · | · | · | · | |
| Net Stock Activity | $-25M | · | · | · | · | · | · | |
| Financing Cash Flow | $-33M | $-21M | $-91M | $2M | $934M | $91M | $133M | |
| Net Change in Cash | $-3M | $11M | $-91M | $-89M | $172M | $18M | $8M | |
| Taxes Paid | $389.0K | $76.0K | $107.0K | · | · | · | · | |
| Free Cash Flow | $-81.0K | $-23M | $-128M | $-192M | $-129M | · | · | |
| Levered FCF | · | · | $-159M | $-217M | $-138M | · | · |
Profitability 8
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 73.8% | 55.9% | 51.7% | 38.1% | 49.5% | · | · | |
| Operating Margin | -17.6% | -30.6% | -99.6% | -317.2% | -84.1% | · | · | |
| Net Margin | -5.5% | -26.8% | -113.9% | -306.2% | -72.5% | · | · | |
| Pretax Margin | -0.71% | -26.7% | -114.6% | -325.7% | -88.7% | · | · | |
| EBITDA Margin | -14.9% | -29.2% | -98.0% | -312.7% | -79.6% | · | · | |
| ROA | -3.8% | -22.6% | -55.9% | -93.2% | -25.6% | · | · | |
| ROE | 31.0% | 81.8% | 2759.5% | -482.1% | -21.2% | · | · | |
| ROIC | 91.5% | 88.3% | 812.3% | -604.0% | -20.7% | · | · |
Liquidity & Solvency 3
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.5 | 3.5 | 5.4 | 11.2 | 10.2 | · | · | |
| Quick Ratio | 1.7 | 2.5 | 4.3 | 10.0 | 3.5 | · | · | |
| Interest Coverage | · | · | -5.1 | -30.1 | -17.5 | · | · |
Efficiency 1
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.7 | 0.8 | 0.5 | 0.3 | 0.4 | · | · |
Growth Rates 3
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Revenue YoY | 6.8% | 5.7% | -53.4% | 0.30% | 144.2% | · | · | |
| Revenue CAGR 3Y | -19.3% | -21.0% | 4.5% | · | · | · | · | |
| Revenue CAGR 5Y | 5.2% | · | · | · | · | · | · |
Valuation (TTM) 10
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $124M | $116M | $110M | $235M | $234M | · | · | |
| Net Income TTM | $-7M | $-43M | $-179M | $-720M | $-170M | · | · | |
| Market Cap | $778M | $1.09B | $637M | $347M | $1.69B | · | · | |
| P/E | -30.4 | -17.5 | -3.4 | -0.4 | -5.6 | · | · | |
| P/S | 6.3 | 9.4 | 5.8 | 1.5 | 7.2 | · | · | |
| P/B | -25.5 | -19.3 | -33.1 | 2.8 | 2.2 | · | · | |
| P / Tangible Book | · | · | · | 2.9 | 5.4 | · | · | |
| P / Cash Flow | 67.6 | -83.3 | -5.0 | -1.8 | -13.3 | · | · | |
| P / FCF | -9609.5 | -47.5 | -5.0 | -1.8 | -13.1 | · | · | |
| Earnings Yield | -3.3% | -5.7% | -29.8% | -227.8% | -17.7% | · | · |
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 | $34M | $31M | $32M | $33M | $32M | $27M | $30M | $33M | $29M | $24M | $-11M | $41M | $43M | $37M | $43M | $55M | |
| Cost of Revenue | $9M | $7M | $8M | $8M | $8M | $8M | $8M | $9M | $8M | $8M | $-26M | $19M | $19M | $21M | $28M | $34M | |
| Gross Profit | $25M | $23M | $23M | $24M | $23M | $19M | $22M | $24M | $20M | $16M | $15M | $22M | $23M | $16M | $14M | $21M | |
| R&D Expense | $9M | $9M | $7M | $9M | $7M | $8M | $9M | $10M | $13M | $14M | $14M | $19M | $22M | $26M | $33M | $34M | |
| SG&A Expense | $11M | $12M | $14M | $13M | $14M | $11M | $10M | $11M | $11M | $12M | $5M | $16M | $20M | $21M | $33M | $32M | |
| Operating Expenses | $26M | $28M | $28M | $30M | $28M | $27M | $26M | $36M | $33M | $37M | $24M | $58M | $60M | $77M | $90M | $151M | |
| Operating Income | $-2M | $-5M | $-5M | $-5M | $-5M | $-8M | $-3M | $-11M | $-13M | $-21M | $-9M | $-36M | $-37M | $-61M | $-75M | $-130M | |
| Interest Expense | · | · | · | · | · | · | · | $0 | $2M | $5M | · | $8M | $8M | $8M | · | $6M | |
| Interest Income | $500.0K | $600.0K | $700.0K | $900.0K | $1M | $1M | $1M | $2M | $2M | $1M | $3M | $3M | $3M | $3M | $2M | $300.0K | |
| Other Non-op | $221.0K | $40.0K | $1M | $17M | $1M | $1M | $1M | $11M | $-4M | $6M | $-2M | $3M | $3M | $3M | $2M | $3M | |
| Pretax Income | $-1M | $-5M | $-4M | $12M | $-4M | $-7M | $-2M | $-610.0K | $-19M | $-21M | $-18M | $-42M | $-41M | $-66M | $-81M | $-133M | |
| Income Tax | $119.0K | $63.0K | $41.0K | $27.0K | $41.0K | $30.0K | $16.0K | $21.0K | $30.0K | $42.0K | $-74.0K | $44.0K | $53.0K | $71.0K | $476.0K | $14.0K | |
| Net Income | $-1M | $-8M | $-7M | $12M | $-7M | $-10M | $-825.0K | $-2M | $-19M | $-21M | $-30M | $-42M | $-41M | $-65M | $-81M | $-126M | |
| EPS (Basic) | $-0.03 | $-0.05 | $-0.03 | $0.02 | $-0.04 | $-0.06 | $-0.03 | $-0.03 | $-0.09 | $-0.09 | $-0.12 | $-0.18 | $-0.18 | $-0.28 | $-0.33 | $-0.57 | |
| EPS (Diluted) | $-0.03 | $-0.05 | $-0.03 | $0.02 | $-0.04 | $-0.06 | $-0.03 | $-0.03 | $-0.09 | $-0.09 | $-0.12 | $-0.18 | $-0.18 | $-0.28 | $-0.33 | $-0.57 | |
| Shares (Basic) | 239,909,000 | 255,630,000 | -518,725,000 | 259,631,000 | 259,211,000 | 258,832,000 | -504,990,000 | 254,910,000 | 253,069,000 | 250,932,000 | -486,910,000 | 246,410,000 | 244,262,000 | 241,444,000 | -463,936,000 | 235,267,000 | |
| Shares (Diluted) | 239,909,000 | 255,630,000 | -527,813,000 | 268,719,000 | 259,211,000 | 258,832,000 | -504,990,000 | 254,910,000 | 253,069,000 | 250,932,000 | -486,910,000 | 246,410,000 | 244,262,000 | 241,444,000 | -463,936,000 | 235,267,000 | |
| EBITDA | $-2M | $-4M | · | $-5M | $-5M | $-7M | · | $-13M | $-13M | $-21M | · | $-36M | $-37M | $-61M | · | $-130M |
Balance Sheet 27
| 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 | $23M | $37M | $44M | $55M | $36M | $56M | $38M | $55M | $45M | $85M | $24M | $85M | $35M | $46M | $124M | $114M | |
| Short-term Investments | $22M | $22M | $25M | $22M | $52M | $49M | $56M | $62M | $67M | $44M | · | $160M | $231M | $261M | · | · | |
| Prepaid Expense | $17M | $16M | $15M | $20M | $17M | $16M | $17M | $14M | $10M | $13M | · | $19M | $22M | $23M | · | $25M | |
| Other Current Assets | $981.0K | $1M | $1M | $3M | $3M | $1M | $2M | $2M | $1M | $2M | · | $3M | $4M | $5M | · | $4M | |
| Current Assets | $76M | $93M | $98M | $116M | $127M | $140M | $135M | $146M | $143M | $160M | · | $283M | $309M | $350M | · | $454M | |
| PP&E (Net) | $22M | $23M | $23M | $23M | $21M | $17M | $12M | $10M | $8M | $6M | · | $4M | $5M | $5M | · | $6M | |
| PP&E (Gross) | $29M | $28M | $27M | $26M | $23M | $19M | $13M | $13M | $17M | $16M | · | $13M | $13M | $13M | · | $12M | |
| Accum. Depreciation | $7M | $6M | $4M | $3M | $2M | $2M | $1M | $3M | $9M | $10M | · | $9M | $8M | $7M | · | $6M | |
| Goodwill | · | · | · | · | · | · | · | · | · | · | · | · | · | · | · | $0 | |
| Intangibles | · | · | · | $69.0K | $73.0K | $77.0K | · | $2M | $2M | $2M | · | $2M | $2M | $2M | · | $2M | |
| Other Non-current Assets | $41M | $41M | $41M | $43M | $26M | $22M | $22M | $17M | $16M | $16M | · | $10M | $9M | $10M | · | $11M | |
| Total Assets | $144M | $161M | $170M | $190M | $183M | $188M | $178M | $186M | $185M | $202M | · | $318M | $350M | $385M | · | $493M | |
| Accounts Payable | $418.0K | $259.0K | $2M | $772.0K | $1M | $3M | $2M | $2M | $1M | $2M | · | $2M | $3M | $2M | · | $3M | |
| Accrued Liabilities | $4M | $6M | $3M | $3M | $3M | $3M | $2M | $4M | $3M | $3M | · | $2M | $3M | $2M | · | $5M | |
| Current Liabilities | $47M | $51M | $39M | $46M | $53M | $58M | $39M | $45M | $42M | $43M | · | $37M | $35M | $40M | · | $44M | |
| Capital Leases | $2M | $1M | $1M | $1M | $1M | · | $0 | $955.0K | $5M | $6M | · | $8M | $9M | $10M | · | $12M | |
| Deferred Tax | · | · | · | · | · | · | · | · | · | · | · | · | · | · | · | $0 | |
| Other Non-current Liabilities | $2M | $1M | $1M | $1M | $2M | $291.0K | $278.0K | $1M | $2M | $2M | · | $3M | $4M | $4M | · | $6M | |
| Total Liabilities | $49M | $53M | $41M | $47M | $55M | $59M | $40M | $47M | $48M | $190M | · | $267M | $266M | $272M | · | $278M | |
| Long-term Debt | · | · | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $139M | · | $219M | $218M | $218M | · | $216M | |
| Common Stock | $2.0K | $2.0K | $2.0K | $2.0K | $2.0K | $2.0K | $2.0K | $2.0K | $2.0K | $2.0K | · | $2.0K | $2.0K | $2.0K | · | $2.0K | |
| Paid-in Capital | $1.33B | $1.34B | $1.36B | $1.38B | $1.38B | $1.38B | $1.33B | $1.33B | $1.34B | $1.33B | · | $1.32B | $1.31B | $1.30B | · | $1.26B | |
| Retained Earnings | $-1.40B | $-1.40B | $-1.39B | $-1.39B | $-1.40B | $-1.39B | $-1.38B | $-1.38B | $-1.38B | $-1.36B | · | $-1.31B | $-1.27B | $-1.23B | · | $-1.08B | |
| AOCI | $623.0K | $663.0K | $597.0K | $555.0K | $514.0K | $565.0K | $602.0K | $765.0K | $304.0K | $346.0K | · | $-402.0K | $-689.0K | $95.0K | · | $-2M | |
| Stockholders' Equity | $-74M | $-56M | $-30M | $-12M | $-23M | $-17M | $-56M | $-50M | $-45M | $-36M | $-19M | $6M | $41M | $71M | $123M | $176M | |
| Liabilities + Equity | $144M | $161M | $170M | $190M | $183M | $188M | $178M | $186M | $185M | $202M | · | $318M | $350M | $385M | · | $493M | |
| Shares Outstanding | 236,513,000 | 247,336,000 | 256,043,000 | 260,100,000 | 260,051,000 | 258,825,000 | 258,173,000 | 255,881,000 | 254,207,000 | 252,319,000 | 249,910,000 | 247,946,000 | 245,775,000 | 243,607,000 | 240,931,000 | 237,577,000 |
Cash Flow 15
| 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 | $1M | $1M | $1M | $640.0K | $407.0K | $273.0K | $-56.0K | $64.0K | $316.0K | $-341.0K | $600.0K | $626.0K | $630.0K | $613.0K | $929.0K | |
| Stock-based Comp | $7M | $7M | $8M | $8M | $8M | $6M | $6M | $7M | $7M | $8M | $6M | $9M | $14M | $16M | $28M | $28M | |
| Deferred Tax | · | · | · | · | · | · | · | · | · | · | $-34.0K | $0 | $0 | $0 | $0 | $0 | |
| Amort. of Intangibles | · | · | · | · | · | · | · | · | · | $0 | · | $0 | · | $0 | $0 | $300.0K | |
| Restructuring | $4.0K | $662.0K | $28.0K | $93.0K | $28.0K | $719.0K | $95.0K | $5M | $114.0K | $972.0K | $-4M | $9M | $2M | $13M | $3M | $6M | |
| Other Non-cash | · | $7M | · | · | · | $23M | · | · | · | $8M | · | · | · | $2M | · | · | |
| Operating Cash Flow | $8M | $7M | $980.0K | $-3M | $-6M | $20M | $-5M | $2M | $-7M | $-4M | $-21M | $-26M | $-34M | $-47M | $-47M | $-50M | |
| CapEx | $825.0K | $1M | $1M | $2M | $4M | $4M | $2M | $3M | $2M | $2M | $-470.0K | $31.0K | $170.0K | $304.0K | $458.0K | $446.0K | |
| Investing Cash Flow | $-685.0K | $3M | $-1M | $27M | $-11M | $4M | $-2M | $12M | $-25M | $61M | $53M | $72M | $31M | $-29M | $57M | $31M | |
| Stock Repurchased | $20M | $17M | $16M | $5M | $2M | $3M | $0 | $0 | $0 | $0 | · | · | · | · | · | · | |
| Net Stock Activity | · | $-17M | · | · | · | $-3M | · | · | · | · | · | · | · | · | · | · | |
| Financing Cash Flow | $-21M | $-18M | $-18M | $-6M | $-4M | $-5M | $-6M | $-4M | $-7M | $-3M | $-86M | $-1M | $-1M | $-2M | $41.0K | $940.0K | |
| Net Change in Cash | $-14M | $-8M | $-18M | $18M | $-21M | $18M | $-13M | $10M | $-39M | $54M | $-54M | $45M | $-4M | $-78M | $10M | $-18M | |
| Free Cash Flow | · | $6M | · | · | · | $16M | · | · | · | $-6M | · | · | · | $-47M | · | · | |
| Levered FCF | · | · | · | · | · | · | · | · | · | $-11M | · | · | · | $-55M | · | · |
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 | 73.5% | 75.8% | · | 74.4% | 73.9% | 70.8% | · | 57.5% | 53.5% | 51.9% | · | 54.4% | 54.9% | 42.5% | · | 38.1% | |
| Operating Margin | -4.7% | -16.4% | · | -14.9% | -14.7% | -28.7% | · | -29.5% | -33.0% | -60.6% | · | -89.2% | -85.8% | -164.5% | · | -234.6% | |
| Net Margin | -4.4% | -26.1% | · | 38.1% | -21.1% | -34.5% | · | -5.4% | -47.9% | -59.1% | · | -102.9% | -96.3% | -175.2% | · | -227.9% | |
| Pretax Margin | -4.0% | -16.3% | · | 37.9% | -11.4% | -24.6% | · | -5.8% | -47.9% | -59.0% | · | -102.9% | -96.8% | -177.1% | · | -239.8% | |
| EBITDA Margin | -4.7% | -12.1% | · | -14.9% | -14.7% | -27.2% | · | -29.5% | -33.0% | -59.0% | · | -89.2% | -85.8% | -162.9% | · | -234.6% | |
| ROA | -0.91% | -4.6% | · | 6.7% | -3.6% | -4.7% | · | -0.97% | -7.2% | -7.0% | · | -10.3% | -8.7% | -9.1% | · | -15.1% | |
| ROE | 3.1% | 22.1% | · | -40.4% | 19.5% | 35.1% | · | 11.3% | 923.3% | -116.2% | · | -45.9% | -25.7% | -16.4% | · | -25.1% | |
| ROIC | 2.3% | 9.2% | · | 39.2% | 20.7% | 45.8% | · | 27.0% | 29.4% | 59.3% | · | -575.9% | -89.1% | -86.2% | · | -74.0% |
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 | 1.6 | 1.8 | · | 2.5 | 2.4 | 2.4 | · | 3.2 | 3.4 | 3.7 | · | 7.7 | 8.9 | 8.8 | · | 10.3 | |
| Quick Ratio | 1.0 | 1.1 | · | 1.7 | 1.7 | 1.8 | · | 2.6 | 2.7 | 3.0 | · | 6.7 | 7.6 | 7.7 | · | 2.6 | |
| Interest Coverage | · | · | · | · | · | · | · | · | -8.1 | -4.2 | · | -4.4 | -4.6 | -8.1 | · | -21.1 |
Efficiency 1
| 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 | 0.2 | 0.2 | · | 0.2 | 0.2 | 0.1 | · | 0.2 | 0.2 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 |
Valuation (TTM) 10
| 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 | $129M | $122M | · | $124M | $120M | $112M | · | $126M | $136M | $145M | · | $176M | $201M | $230M | · | $282M | |
| Net Income TTM | $-4M | $-12M | · | $-7M | $-38M | $-52M | · | $-84M | $-123M | $-169M | · | $-275M | $-674M | $-705M | · | $-717M | |
| Market Cap | $404M | $420M | · | $949M | $858M | $867M | · | $960M | $600M | $820M | · | $340M | $233M | $243M | · | $525M | |
| P/E | -17.1 | · | · | · | -8.5 | -8.6 | · | -9.6 | -4.4 | -4.5 | · | -1.1 | -0.3 | -0.3 | · | -0.7 | |
| P/S | 3.1 | 3.4 | · | 7.6 | 7.1 | 7.7 | · | 7.6 | 4.4 | 5.7 | · | 1.9 | 1.2 | 1.1 | · | 1.9 | |
| P/B | -5.4 | -7.5 | · | -76.0 | -38.0 | -51.3 | · | -19.3 | -13.2 | -22.9 | · | 54.0 | 5.6 | 3.4 | · | 3.0 | |
| P / Tangible Book | · | · | · | · | · | · | · | · | · | · | · | 81.3 | 5.9 | 3.5 | · | 3.0 | |
| P / Cash Flow | · | 57.2 | · | · | · | 42.5 | · | · | · | -212.0 | · | · | · | -5.2 | · | · | |
| P / FCF | · | 67.4 | · | · | · | 54.9 | · | · | · | -140.6 | · | · | · | -5.2 | · | · | |
| Earnings Yield | -5.9% | · | · | · | -11.8% | -11.6% | · | -10.4% | -22.9% | -22.5% | · | -88.3% | -326.3% | -324.3% | · | -150.7% |
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
Income Statement
| 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | |
|---|---|---|---|---|---|
| Revenue | $124M | — | — | — | $116M |
| Gross Margin % | 73.8% | — | — | — | 55.9% |
| Operating Margin % | -17.6% | — | — | — | -30.6% |
| Net Income | $-7M | — | — | — | $-43M |
| Diluted EPS | $-0.10 | — | — | — | $-0.24 |
Balance Sheet
| 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | |
|---|---|---|---|---|---|
| Current Ratio | 2.5 | — | — | — | 3.5 |
| Quick Ratio | 1.7 | — | — | — | 2.5 |
Cash Flow
| 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | |
|---|---|---|---|---|---|
| Free Cash Flow | $-81.0K | — | — | — | $-23M |
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Institutional owners (13F) 207 filers · $199.2M 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 |
|---|---|---|---|---|
| 35 (+1 vs prior Q) | 36 (+5 vs prior Q) | 54 (-5 vs prior Q) | 62 (+4 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 |
|---|---|---|---|---|
| Haveli Investment Management LLC | $31,966,171 | 18,693,667 | 16.05% | Shares |
| CYPRESS POINT INVESTMENT MANAGEMENT LP | $24,448,597 | 14,297,425 | 12.27% | Shares |
| Capricorn Fund Managers Ltd | $19,348,050 | 11,314,649 | 9.71% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $14,511,549 | 8,486,286 | 7.29% | Shares |
| Whitebark Investors LP | $10,847,380 | 6,343,497 | 5.45% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $10,629,435 | 6,216,044 | 5.34% | Shares |
| STATE STREET CORP | $10,559,005 | 6,174,857 | 5.30% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $7,377,722 | 4,313,095 | 3.70% | Shares |
| Emergence GP Partners, LLC | $7,257,888 | 4,244,379 | 3.64% | Shares |
| MILLENNIUM MANAGEMENT LLC | $5,967,459 | 3,489,742 | 3.00% | Shares |
| JACOBS LEVY EQUITY MANAGEMENT, INC | $4,307,088 | 2,518,765 | 2.16% | Shares |
| Irenic Capital Management LP | $3,905,813 | 2,284,101 | 1.96% | Shares |
| GOLDMAN SACHS GROUP INC | $2,962,038 | 1,732,186 | 1.49% | Shares |
| RICE HALL JAMES & ASSOCIATES, LLC | $2,667,636 | 1,560,021 | 1.34% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $2,648,679 | 1,548,935 | 1.33% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $2,509,565 | 1,467,582 | 1.26% | Shares |
| TUDOR INVESTMENT CORP ET AL | $2,362,565 | 1,381,617 | 1.19% | Shares |
| ESSEX INVESTMENT MANAGEMENT CO LLC | $2,145,616 | 1,254,746 | 1.08% | Shares |
| LAKE STREET ADVISORS GROUP, LLC | $1,828,028 | 434,211 | 0.92% | Shares |
| Advantage Alpha Capital Partners LP | $1,775,053 | 486,316 | 0.89% | Shares |
| Militia Capital Partners, LP | $1,672,000 | 550,000 | 0.84% | Shares |
| JANE STREET GROUP, LLC | $1,341,880 | 784,725 | 0.67% | Shares |
| Panoramic Capital, LLC | $1,321,298 | 772,689 | 0.66% | Shares |
| FIRST MANHATTAN CO. LLC. | $1,128,203 | 659,768 | 0.57% | Shares |
| Man Group plc | $863,706 | 505,091 | 0.43% | Shares |
| Perigon Wealth Management, LLC | $854,608 | 499,771 | 0.43% | Shares |
| Kazazian Asset Management, LLC | $835,648 | 488,683 | 0.42% | Shares |
| D. E. Shaw & Co., Inc. | $745,982 | 436,247 | 0.37% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $702,779 | 410,982 | 0.35% | Shares |
| Potrero Capital Research LLC | $648,559 | 379,274 | 0.33% | Shares |
| FRANKLIN RESOURCES INC | $647,558 | 378,689 | 0.33% | Shares |
| WOLVERINE TRADING, LLC | $641,449 | 171,053 | 0.32% | Shares |
| ALLEN OPERATIONS LLC | $589,541 | 344,761 | 0.30% | Shares |
| CAXTON ASSOCIATES LP | $583,796 | 138,669 | 0.29% | Shares |
| Balyasny Asset Management L.P. | $515,035 | 301,190 | 0.26% | Shares |
| Militia Capital Management LLC | $513,000 | 300,000 | 0.26% | Call option |
| FULLCIRCLE WEALTH LLC | $494,815 | 156,093 | 0.25% | Shares |
| Ahara Advisors LLC | $467,803 | 273,569 | 0.23% | Shares |
| ALLIANCEBERNSTEIN L.P. | $463,233 | 272,490 | 0.23% | Shares |
| CITADEL ADVISORS LLC | $447,278 | 261,566 | 0.22% | Shares |
| Point72 Asset Management, L.P. | $439,761 | 257,170 | 0.22% | Shares |
| RHUMBLINE ADVISERS | $404,740 | 236,695 | 0.20% | Shares |
| EP Wealth Advisors, LLC | $391,007 | 228,659 | 0.20% | Shares |
| Cypress Point Wealth Management, LLC | $386,192 | 225,843 | 0.19% | Shares |
| PATHWAY CAPITAL MANAGEMENT, LP | $366,297 | 214,209 | 0.18% | Shares |
| Bank of New York Mellon Corp | $360,425 | 210,775 | 0.18% | Shares |
| SEI INVESTMENTS CO | $346,472 | 202,615 | 0.17% | Shares |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM | $341,340 | 200,788 | 0.17% | Shares |
| Divisadero Street Capital Management, LP | $340,056 | 198,863 | 0.17% | Shares |
| EntryPoint Capital, LLC | $336,431 | 196,743 | 0.17% | Shares |
| MARSHALL WACE, LLP | $322,858 | 188,806 | 0.16% | Shares |
| WEALTH ENHANCEMENT ADVISORY SERVICES, LLC | $312,062 | 183,566 | 0.16% | Shares |
| BANK OF AMERICA CORP /DE/ | $300,290 | 175,608 | 0.15% | Shares |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. | $291,516 | 170,477 | 0.15% | Shares |
| VANGUARD GROUP INC | $283,270 | 93,181 | 0.14% | Shares |
| PRELUDE CAPITAL MANAGEMENT, LLC | $269,084 | 157,359 | 0.14% | Shares |
| WOLVERINE TRADING, LLC | $268,875 | 71,700 | 0.13% | Call option |
| SIMPLEX TRADING, LLC | $252,560 | 147,696 | 0.13% | Shares |
| Squarepoint Ops LLC | $212,300 | 124,152 | 0.11% | Shares |
| Vontobel Holding Ltd. | $209,673 | 122,616 | 0.11% | Shares |
| BARCLAYS PLC | $200,510 | 117,257 | 0.10% | Shares |
| MetLife Investment Management, LLC | $193,866 | 113,372 | 0.10% | Shares |
| CITIGROUP INC | $174,741 | 102,188 | 0.09% | Shares |
| Mount Lucas Management LP | $171,000 | 100,000 | 0.09% | Shares |
| Vanguard Global Advisers, LLC | $159,340 | 93,181 | 0.08% | Shares |
| Atom Investors LP | $158,532 | 92,709 | 0.08% | Shares |
| BlackRock, Inc. | $153,751 | 89,913 | 0.08% | Shares |
| JANUS HENDERSON GROUP PLC | $145,096 | 85,100 | 0.07% | Shares |
| WOLVERINE TRADING, LLC | $144,000 | 38,400 | 0.07% | Put option |
| Caitong International Asset Management Co., Ltd | $139,592 | 81,633 | 0.07% | Shares |
| Lighthouse Investment Partners, LLC | $137,287 | 80,285 | 0.07% | Shares |
| PFG Advisors | $136,733 | 79,961 | 0.07% | Shares |
| STRS OHIO | $134,577 | 78,700 | 0.07% | Shares |
| Invesco Ltd. | $129,989 | 76,017 | 0.07% | Shares |
| JPMORGAN CHASE & CO | $129,106 | 76,394 | 0.06% | Shares |
| Savvy Advisors, Inc. | $125,196 | 73,214 | 0.06% | Shares |
| Quantinno Capital Management LP | $121,685 | 71,160 | 0.06% | Shares |
| TWO SIGMA INVESTMENTS, LP | $116,294 | 68,008 | 0.06% | Shares |
| Jasper Ridge Partners, L.P. | $115,622 | 67,615 | 0.06% | Shares |
| Cresset Asset Management, LLC | $102,600 | 60,000 | 0.05% | Shares |
| Police & Firemen's Retirement System of New Jersey | $101,403 | 59,300 | 0.05% | Shares |
| TWO SIGMA ADVISERS, LP | $100,624 | 33,100 | 0.05% | Shares |
| Quadrant Private Wealth Management, LLC | $99,867 | 58,402 | 0.05% | Shares |
| CWM, LLC | $99,557 | 58,563 | 0.05% | Shares |
| Freestone Capital Holdings, LLC | $96,093 | 56,195 | 0.05% | Shares |
| IEQ CAPITAL, LLC | $94,838 | 55,461 | 0.05% | Shares |
| Russell Investments Group, Ltd. | $92,271 | 53,960 | 0.05% | Shares |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE | $91,613 | 53,575 | 0.05% | Shares |
| IMC-Chicago, LLC | $87,337 | 51,074 | 0.04% | Shares |
| Vanguard Personalized Indexing Management, LLC | $86,461 | 50,562 | 0.04% | Shares |
| Prospect Capital Advisors, LLC | $86,013 | 50,300 | 0.04% | Shares |
| XTX Topco Ltd | $85,343 | 49,908 | 0.04% | Shares |
| Arax Advisory Partners | $84,951 | 49,679 | 0.04% | Shares |
| AQR CAPITAL MANAGEMENT LLC | $84,240 | 49,263 | 0.04% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $84,132 | 49,200 | 0.04% | Put option |
| GPS Wealth Strategies Group, LLC | $81,502 | 26,810 | 0.04% | Shares |
| MONETA GROUP INVESTMENT ADVISORS LLC | $80,204 | 46,903 | 0.04% | Shares |
| New Insight Wealth Advisors | $77,557 | 45,355 | 0.04% | Shares |
| INTECH INVESTMENT MANAGEMENT LLC | $77,381 | 45,252 | 0.04% | Shares |
| Westmount Partners, LLC | $76,950 | 45,000 | 0.04% | Shares |
Company insiders 18 insiders · 9 officers · 9 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Oxana Tkach | PRINCIPAL ACCOUNTING OFFICER | May 22, 2026 S | 117,447 | 0 | 1 | $-8,831 |
| Nima Ghamsari | Head of Blend | Jan. 24, 2024 J | 0 | 0 | 0 | $0 |
| Amir Jafari | Head of Finance and Admin. | Jan. 12, 2024 P | 75,559 | 0 | 0 | $0 |
| Winnie Ling | Head of Legal | Dec. 20, 2023 M | 158,980 | 0 | 0 | $0 |
| Dean Klinger | Head of Go-To-Market | Oct. 11, 2023 M | 141,843 | 0 | 0 | $0 |
| Manish K. Gupta | Principal Accounting Officer | Feb. 20, 2023 F | 70,455 | 0 | 0 | $0 |
| Marc S. Greenberg | Head of Finance | Feb. 20, 2023 F | 103,707 | 0 | 0 | $0 |
| Crystal Sumner | Head of Legal, Compliance,Risk | Feb. 1, 2023 S | 440,057 | 0 | 0 | $0 |
| Jonathan Y. Chan | Principal Accounting Officer | May 20, 2022 S | 66,263 | 0 | 0 | $0 |
| Eric H. Woersching | Director | June 17, 2026 A | 80,000 | 0 | 0 | $0 |
| Gerald C. Chen | Director | June 17, 2026 A | 137,760 | 0 | 0 | $0 |
| Erin N Lantz | Director | June 17, 2026 A | 137,760 | 0 | 0 | $0 |
| Bryan Edmund Sullivan | Director | June 17, 2026 A | 100,000 | 0 | 0 | $0 |
| Timothy J Mayopoulos | Director | June 17, 2026 A | 431,130 | 0 | 0 | $0 |
| Erin James Collard | Director | Dec. 20, 2023 M | 1,064,226 | 0 | 0 | $0 |
| Ciara Burnham | Director | Dec. 20, 2023 M | 10,000 | 0 | 0 | $0 |
| Roger W. Ferguson Jr. | Director | Dec. 31, 2022 A | — | 0 | 0 | $0 |
| Matthew Christopher Thomson | — | Aug. 5, 2026 S | 60,162 | 0 | 1 | $-30,082 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
Activists & 5%+ owners 1 position
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 |
|---|---|---|---|---|---|
| Haveli Brooks Aggregator, L.P., Haveli Investments Software Fund I GP, LLC, Haveli Software Management LLC, Whanau Interests LLC, Haveli Investment Management LLC, Haveli Investments, L.P., Brian N. Sheth ×5 filings | June 12, 2026 | 22.60% | Amendment | — | 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 50 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 |
|---|---|---|---|---|
| EWUS · iShares Trust | 1.20% | 87,170 SH | Aug. 8, 2026 | Daily |
| IFGL · iShares Trust | 0.85% | 117,859 SH | Aug. 8, 2026 | Daily |
| VNQI · VANGUARD INTERNATIONAL EQUITY INDEX… | 0.53% | 3,691,619 SH | Aug. 8, 2026 | Daily |
| ERET · iShares Trust | 0.39% | 9,152 SH | Aug. 8, 2026 | Daily |
| ISCF · iShares Trust | 0.38% | 425,616 SH | Aug. 8, 2026 | Daily |
| IEUS · iShares Trust | 0.37% | 112,714 SH | Aug. 8, 2026 | Daily |
| REET · iShares Trust | 0.33% | 2,788,012 SH | Aug. 8, 2026 | Daily |
| SCZ · iShares Trust | 0.16% | 3,639,138 SH | Aug. 8, 2026 | Daily |
| INTF · iShares Trust | 0.14% | 856,740 SH | Aug. 8, 2026 | Daily |
| IWC · iShares Trust | 0.08% | 628,121 SH | Aug. 8, 2026 | Daily |
| FINX · Global X Funds | 0.08% | 88,656 NS | May 31, 2026 | N-PORT |
| WSML · iShares Trust | 0.06% | 64,255 SH | Aug. 8, 2026 | Daily |
| GSSC · Goldman Sachs ETF Trust | 0.05% | 286,873 NS | May 31, 2026 | N-PORT |
| IEV · iShares Trust | 0.04% | 117,281 SH | Aug. 8, 2026 | Daily |
| VGK · VANGUARD INTERNATIONAL EQUITY INDEX… | 0.04% | 2,454,023 SH | Aug. 8, 2026 | Daily |
| IEUR · iShares Trust | 0.04% | 572,948 SH | Aug. 8, 2026 | Daily |
| PXF · Invesco Exchange-Traded Fund Trust … | 0.03% | 128,032 | Aug. 8, 2026 | Daily |
| IEFA · iShares Trust | 0.02% | 7,212,873 SH | Aug. 8, 2026 | Daily |
| VEA · VANGUARD TAX-MANAGED FUNDS | 0.02% | 10,011,770 SH | Aug. 8, 2026 | Daily |
| VTWG · VANGUARD SCOTTSDALE FUNDS | 0.02% | 168,332 SH | Aug. 8, 2026 | Daily |
| VSGX · VANGUARD WORLD FUND | 0.02% | 207,049 SH | Aug. 8, 2026 | Daily |
| IWO · iShares Trust | 0.02% | 1,439,376 SH | Aug. 8, 2026 | Daily |
| PRFZ · Invesco Exchange-Traded Fund Trust | 0.02% | 319,367 SH | Aug. 8, 2026 | Daily |
| IDEV · iShares Trust | 0.02% | 834,268 SH | Aug. 8, 2026 | Daily |
| IWM · iShares Trust | 0.01% | 4,846,356 SH | Aug. 8, 2026 | Daily |
| IMFL · Invesco Exchange-Traded Self-Indexe… | 0.01% | 19,877 | Aug. 8, 2026 | Daily |
| IXUS · iShares Trust | 0.01% | 1,118,437 SH | Aug. 8, 2026 | Daily |
| VXUS · VANGUARD STAR FUNDS | 0.01% | 14,957,215 SH | Aug. 8, 2026 | Daily |
| VEU · VANGUARD INTERNATIONAL EQUITY INDEX… | 0.01% | 2,393,813 SH | Aug. 8, 2026 | Daily |
| VT · VANGUARD INTERNATIONAL EQUITY INDEX… | 0.01% | 1,078,047 SH | Aug. 8, 2026 | Daily |
| VTWO · VANGUARD SCOTTSDALE FUNDS | 0.01% | 1,060,557 SH | Aug. 8, 2026 | Daily |
| ITWO · ProShares Trust | 0.01% | 9,287 NS | May 31, 2026 | N-PORT |
| RSSL · Global X Funds | 0.01% | 85,547 NS | April 30, 2026 | N-PORT |
| SCHA · SCHWAB STRATEGIC TRUST | 0.01% | 1,062,012 NS | May 31, 2026 | N-PORT |
| UWM · ProShares Trust | 0.01% | 7,264 NS | May 31, 2026 | N-PORT |
| FTEC · FIDELITY COVINGTON TRUST | 0.01% | 634,661 NS | April 30, 2026 | N-PORT |
| IWN · iShares Trust | 0.00% | 312,844 SH | Aug. 8, 2026 | Daily |
| URTY · ProShares Trust | 0.00% | 7,347 NS | May 31, 2026 | N-PORT |
| MSSM · MORGAN STANLEY PATHWAY FUNDS | 0.00% | 9,890 NS | May 31, 2026 | N-PORT |
| HDG · ProShares Trust | 0.00% | 184 NS | May 31, 2026 | N-PORT |
| ITOT · iShares Trust | 0.00% | 319,450 SH | Aug. 8, 2026 | Daily |
| IWV · iShares Trust | 0.00% | 62,237 SH | Aug. 8, 2026 | Daily |
| AVUQ · AMERICAN CENTURY ETF TRUST | 0.00% | 907 NS | May 31, 2026 | N-PORT |
| SCHB · SCHWAB STRATEGIC TRUST | 0.00% | 142,531 NS | May 31, 2026 | N-PORT |
| VXF · VANGUARD INDEX FUNDS | 0.00% | 2,403,559 SH | Aug. 8, 2026 | Daily |
| VTI · VANGUARD INDEX FUNDS | 0.00% | 5,884,916 SH | Aug. 8, 2026 | Daily |
| VTWV · VANGUARD SCOTTSDALE FUNDS | 0.00% | 23,650 SH | Aug. 8, 2026 | Daily |
| VTHR · VANGUARD SCOTTSDALE FUNDS | 0.00% | 16,150 SH | Aug. 8, 2026 | Daily |
| TILT · FlexShares Trust | 0.00% | 308 NS | April 30, 2026 | N-PORT |
| VGT · VANGUARD WORLD FUND | 0.00% | 4,947,355 SH | Aug. 8, 2026 | Daily |