BRZE Braze, Inc. - Class A Common Stock
$29.82
Price · Aug 19, 2026
Fundamentals as of May 28, 2026
52W Range
$15–$37
66% of range
Analyst Rating
BUY
27 analysts
Price Target
$35
+17% upside
P/E (TTM)
-17.7
ROE
-21.5%
Net Profit Margin
-17.8%
BRZE Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$29.82
Market Cap
—
P/E (TTM)
-17.7
EPS (TTM)
$-1.22
Revenue (TTM)
$738M
Div Yield
—
ROE
-21.5%
Debt/Equity
—
52W Range
$15 – $37
BRZE 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
$738M
2020-01-31
→
2026-01-31
EPS
$-1.22
2020-01-31
→
2026-01-31
Free Cash Flow
$62M
2022-01-31
→
2026-01-31
Margins
-17.8%
2022-01-31
→
2026-01-31
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Metric
5Y trend
BRZE
Peer Median
P/E (TTM)
-17.7
77.0
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Metric
5Y trend
BRZE
Peer Median
Gross Margin
67.2%
73.7%
Operating Margin
-19.6%
—
Net Profit Margin
-17.8%
3.2%
ROA
-13.2%
1.0%
ROE
-21.5%
1.8%
ROIC
-23.7%
—
Financial Health Debt, liquidity, solvency — balance sheet strength
Metric
5Y trend
BRZE
Peer Median
Current Ratio
1.4
1.4
Quick Ratio
0.6
—
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Metric
5Y trend
BRZE
Peer Median
Revenue YoY
24.4%
—
Revenue CAGR 3Y
27.6%
—
Revenue CAGR 5Y
37.5%
—
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
Metric
5Y trend
BRZE
Peer Median
BRZE Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
BUY
27 analysts
- Strong Buy 8 29.6%
- Buy 18 66.7%
- Hold 1 3.7%
- Sell 0 0.0%
- Strong Sell 0 0.0%
12-Month Price Target
20 analysts · 2026-08-16
Median
$34.50
Now
$29.82
Low
$27.00
High
$50.00
Median target
$34.50
+15.7%
Mean target
$34.95
+17.2%
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
0.03%
Next Report
Sep 03, 2026
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| March 31, 2027 | $0.10 | $0.11 | — |
| June 30, 2026 | $0.10 | $0.11 | -0.01% |
| March 31, 2026 | $0.10 | $0.14 | -0.04% |
| Dec. 31, 2025 | $0.06 | $0.06 | -0.00% |
| Sept. 30, 2025 | $0.15 | $0.03 | 0.12% |
| June 30, 2025 | $0.07 | $0.05 | 0.02% |
| March 31, 2025 | $0.12 | $0.05 | 0.07% |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| BRZE | — | -17.7 | 24.4% | -17.8% | -21.5% | 67.2% |
| WK | — | -183.5 | 19.8% | -3.0% | 72.7% | 78.5% |
| NN | — | — | — | — | — | — |
| FRSH | $3.47B | 19.4 | 16.4% | 21.9% | 18.2% | 85.0% |
| AGYS | $2.00B | 51.9 | 15.8% | 12.2% | 12.4% | 62.6% |
| CLSK | — | — | — | — | — | — |
| SOUN | — | — | — | — | — | — |
| INTA | $1.93B | -48.5 | 14.6% | -7.1% | -11.3% | 75.8% |
| AVPT | $2.99B | 92.6 | 26.9% | 8.3% | 7.5% | 74.1% |
| SPSC | $3.34B | 36.2 | 17.8% | 12.4% | 9.7% | 69.2% |
| PLTR | $425.03B | 282.1 | 56.2% | 36.3% | 26.2% | 82.4% |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement 16
| Metric | Trend | 2026 | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|---|
| Revenue | $738M | $593M | $472M | $355M | $238M | $150M | |
| Cost of Revenue | $243M | $183M | $148M | $116M | $79M | $55M | |
| Gross Profit | $496M | $410M | $324M | $240M | $160M | $96M | |
| R&D Expense | $167M | $134M | $120M | $97M | $59M | $29M | |
| SG&A Expense | $146M | $116M | $102M | $89M | $52M | $28M | |
| Operating Expenses | $640M | $532M | $469M | $388M | $238M | $128M | |
| Operating Income | $-145M | $-122M | $-145M | $-148M | $-78M | $-32M | |
| Other Non-op | $17M | $22M | $16M | $8M | $-121.0K | $720.0K | |
| Pretax Income | $-128M | $-101M | $-128M | $-140M | $-78M | $-31M | |
| Income Tax | $3M | $3M | $2M | $583.0K | $-165.0K | $537.0K | |
| Net Income | $-131M | $-104M | $-129M | $-139M | $-77M | $-32M | |
| EPS (Basic) | $-1.22 | $-1.02 | $-1.32 | $-1.47 | $-2.20 | $-1.77 | |
| EPS (Diluted) | $-1.22 | $-1.02 | $-1.32 | $-1.47 | $-2.20 | $-1.77 | |
| Shares (Basic) | 107,906,000 | 102,189,000 | 98,096,000 | 94,569,000 | 34,897,000 | 17,972,000 | |
| Shares (Diluted) | 107,906,000 | 102,189,000 | 98,096,000 | 94,569,000 | 34,897,000 | 17,972,000 | |
| EBITDA | $-125M | $-112M | $-138M | $-144M | $-75M | · |
Balance Sheet 25
| Metric | Trend | 2026 | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $124M | $83M | $68M | $69M | $479M | $29M | |
| Receivables | $122M | $95M | $92M | $78M | $65M | $35M | |
| Prepaid Expense | $33M | $35M | $29M | $26M | $30M | $12M | |
| Other Current Assets | $2M | $3M | $6M | $5M | $4M | $3M | |
| Current Assets | $568M | $644M | $601M | $583M | $608M | $134M | |
| PP&E (Net) | $44M | $39M | $29M | $20M | $7M | $5M | |
| PP&E (Gross) | $74M | $59M | $43M | $29M | $13M | $8M | |
| Accum. Depreciation | $30M | $21M | $14M | $9M | $5M | $3M | |
| Goodwill | $262M | $28M | $28M | $0 | · | · | |
| Intangibles | $61M | $3M | $4M | $500.0K | · | · | |
| Other Non-current Assets | $3M | $3M | $3M | $3M | $5M | $480.0K | |
| Total Assets | $1.11B | $871M | $811M | $705M | $666M | $171M | |
| Accounts Payable | $2M | $2M | $6M | $3M | $2M | $439.0K | |
| Current Liabilities | $420M | $324M | $289M | $217M | $160M | $101M | |
| Capital Leases | $63M | $69M | $75M | $41M | $0 | · | |
| Deferred Tax | · | · | · | · | $0 | $80.0K | |
| Other Non-current Liabilities | $6M | $2M | $2M | $755.0K | $1M | $2M | |
| Total Liabilities | $490M | $396M | $367M | $259M | $161M | $103M | |
| Common Stock | · | · | · | · | · | $0 | |
| Paid-in Capital | $1.34B | $1.06B | $928M | $806M | $717M | $30M | |
| Retained Earnings | $-718M | $-587M | $-483M | $-354M | $-215M | $-138M | |
| AOCI | $2M | $-926.0K | $-1M | $-7M | $-640.0K | $-42.0K | |
| Stockholders' Equity | $624M | $475M | $444M | $445M | $502M | $-109M | |
| Liabilities + Equity | $1.11B | $871M | $811M | $705M | $666M | $171M | |
| Shares Outstanding | · | · | · | · | · | 19,498,295 |
Cash Flow 14
| Metric | Trend | 2026 | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|---|
| D&A | $19M | $10M | $7M | $5M | $3M | $2M | |
| Stock-based Comp | $144M | $115M | $97M | $72M | $47M | $8M | |
| Deferred Tax | $-3M | $-151.0K | $-488.0K | $35.0K | $-80.0K | $60.0K | |
| Amort. of Intangibles | $8M | $600.0K | $600.0K | $0 | $0 | · | |
| Other Non-cash | $43M | $15M | $32M | $40M | $-9M | · | |
| Operating Cash Flow | $71M | $37M | $7M | $-22M | $-35M | $-6M | |
| CapEx | $10M | $13M | $10M | $15M | $2M | $2M | |
| Investing Cash Flow | $-51M | $-36M | $-20M | $-399M | $18M | $22M | |
| Stock Repurchased | · | · | $165.0K | $0 | $0 | $204.0K | |
| Net Stock Activity | · | · | $-165.0K | $0 | $0 | · | |
| Financing Cash Flow | $23M | $12M | $13M | $11M | $468M | $5M | |
| Net Change in Cash | $45M | $11M | $-492.0K | $-410M | $450M | $21M | |
| Taxes Paid | $4M | $3M | $309.0K | $365.0K | $299.0K | $472.0K | |
| Free Cash Flow | $62M | $23M | $-3M | $-38M | $-38M | · |
Profitability 8
| Metric | Trend | 2026 | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|---|
| Gross Margin | 67.2% | 69.1% | 68.7% | 67.4% | 67.0% | · | |
| Operating Margin | -19.6% | -20.6% | -30.7% | -41.7% | -32.9% | · | |
| Net Margin | -17.8% | -17.5% | -27.4% | -39.1% | -32.2% | · | |
| Pretax Margin | -17.4% | -17.0% | -27.2% | -39.4% | -32.9% | · | |
| EBITDA Margin | -17.0% | -18.9% | -29.2% | -40.4% | -31.7% | · | |
| ROA | -13.2% | -12.3% | -17.0% | -20.3% | -18.3% | · | |
| ROE | -21.5% | -22.2% | -29.3% | -31.0% | -40.1% | · | |
| ROIC | -23.7% | -26.6% | -33.1% | -33.4% | -15.6% | · |
Liquidity & Solvency 2
| Metric | Trend | 2026 | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|---|
| Current Ratio | 1.4 | 2.0 | 2.1 | 2.7 | 3.8 | · | |
| Quick Ratio | 0.6 | 0.5 | 0.6 | 0.7 | 3.4 | · |
Efficiency 2
| Metric | Trend | 2026 | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.7 | 0.7 | 0.6 | 0.5 | 0.6 | · | |
| Receivables Turnover | 6.8 | 6.3 | 5.5 | 5.0 | 4.8 | · |
Growth Rates 3
| Metric | Trend | 2026 | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|---|
| Revenue YoY | 24.4% | 25.8% | 32.7% | 49.3% | 58.5% | · | |
| Revenue CAGR 3Y | 27.6% | 35.6% | 46.5% | · | · | · | |
| Revenue CAGR 5Y | 37.5% | · | · | · | · | · |
Valuation (TTM) 4
| Metric | Trend | 2026 | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|---|
| Revenue TTM | $738M | $593M | $472M | $355M | $238M | · | |
| Net Income TTM | $-131M | $-104M | $-129M | $-139M | $-77M | · | |
| P/E | -17.7 | -45.1 | -40.9 | -21.8 | -22.7 | · | |
| Earnings Yield | -5.7% | -2.2% | -2.4% | -4.6% | -4.4% | · |
Income Statement 16
| Metric | Trend | Q1 2027 | Q4 2026 | Q3 2026 | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $211M | $205M | $191M | $180M | $162M | $160M | $152M | $145M | $135M | $131M | $124M | $115M | $102M | $99M | $93M | $86M | |
| Cost of Revenue | $72M | $71M | $63M | $58M | $51M | $49M | $46M | $43M | $45M | $43M | $36M | $35M | $33M | $33M | $29M | $27M | |
| Gross Profit | $139M | $134M | $128M | $122M | $111M | $111M | $106M | $102M | $91M | $88M | $88M | $80M | $69M | $65M | $64M | $59M | |
| R&D Expense | $46M | $45M | $44M | $41M | $37M | $34M | $33M | $33M | $34M | $31M | $30M | $29M | $30M | $27M | $26M | $23M | |
| SG&A Expense | $31M | $36M | $33M | $37M | $40M | $30M | $31M | $28M | $27M | $26M | $26M | $25M | $24M | $22M | $22M | $21M | |
| Operating Expenses | $166M | $163M | $166M | $161M | $151M | $133M | $139M | $130M | $131M | $120M | $123M | $115M | $111M | $102M | $101M | $94M | |
| Operating Income | $-28M | $-28M | $-38M | $-39M | $-40M | $-22M | $-33M | $-28M | $-40M | $-32M | $-35M | $-35M | $-42M | $-37M | $-37M | $-35M | |
| Other Non-op | $3M | $4M | $3M | $4M | $6M | $6M | $5M | $6M | $5M | $4M | $5M | $4M | $3M | $4M | $3M | $2M | |
| Pretax Income | $-24M | $-25M | $-34M | $-35M | $-35M | $-16M | $-27M | $-22M | $-35M | $-28M | $-31M | $-32M | $-38M | $-33M | $-34M | $-33M | |
| Income Tax | $1M | $7M | $2M | $-7M | $1M | $1M | $851.0K | $702.0K | $798.0K | $639.0K | $385.0K | $545.0K | $388.0K | $925.0K | $-391.0K | $35.0K | |
| Net Income | $-27M | $-32M | $-36M | $-28M | $-36M | $-17M | $-28M | $-23M | $-36M | $-28M | $-31M | $-32M | $-38M | $-33M | $-33M | $-33M | |
| EPS (Basic) | $-0.24 | $-0.29 | $-0.33 | $-0.26 | $-0.34 | $-0.17 | $-0.27 | $-0.23 | $-0.35 | $-0.28 | $-0.31 | $-0.33 | $-0.40 | $-0.35 | $-0.35 | $-0.35 | |
| EPS (Diluted) | $-0.24 | $-0.29 | $-0.33 | $-0.26 | $-0.34 | $-0.17 | $-0.27 | $-0.23 | $-0.35 | $-0.28 | $-0.31 | $-0.33 | $-0.40 | $-0.35 | $-0.35 | $-0.35 | |
| Shares (Basic) | 110,797,000 | -211,100,000 | 107,627,000 | 106,807,000 | 104,572,000 | -202,194,000 | 102,146,000 | 101,449,000 | 100,788,000 | -193,317,000 | 97,880,000 | 97,180,000 | 96,353,000 | -187,253,000 | 94,469,000 | 94,103,000 | |
| Shares (Diluted) | 110,797,000 | -211,100,000 | 107,627,000 | 106,807,000 | 104,572,000 | -202,194,000 | 102,146,000 | 101,449,000 | 100,788,000 | -193,317,000 | 97,880,000 | 97,180,000 | 96,353,000 | -187,253,000 | 94,469,000 | 94,103,000 | |
| EBITDA | $-21M | · | $-35M | $-36M | $-38M | · | $-30M | $-26M | $-38M | · | $-34M | $-34M | $-40M | · | $-36M | $-34M |
Balance Sheet 22
| Metric | Trend | Q1 2027 | Q4 2026 | Q3 2026 | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $145M | $124M | $98M | $81M | $231M | $83M | $61M | $79M | $75M | · | $60M | $77M | $117M | · | $45M | $81M | |
| Receivables | $118M | $122M | $90M | $88M | $86M | $95M | $90M | $71M | $82M | · | $71M | $70M | $67M | · | $58M | $48M | |
| Prepaid Expense | $40M | $33M | $28M | $31M | $34M | $35M | $30M | $31M | $30M | · | $24M | $28M | $25M | · | $24M | $26M | |
| Other Current Assets | $3M | $2M | $4M | $5M | $6M | $3M | $6M | $6M | $5M | · | $4M | $5M | $3M | · | $5M | $3M | |
| Current Assets | $547M | $568M | $502M | $485M | $659M | $644M | $613M | $606M | $599M | · | $567M | $574M | $598M | · | $556M | $581M | |
| PP&E (Net) | $42M | $44M | $41M | $40M | $39M | $39M | $40M | $40M | $39M | · | $23M | $21M | $20M | · | $20M | $16M | |
| PP&E (Gross) | $76M | $74M | $68M | $65M | $62M | $59M | $58M | $56M | $53M | · | $35M | $32M | $30M | · | $28M | $23M | |
| Accum. Depreciation | $33M | $30M | $27M | $25M | $23M | $21M | $18M | $16M | $14M | · | $12M | $11M | $10M | · | $8M | $7M | |
| Goodwill | $262M | $262M | $267M | $268M | $28M | $28M | $28M | $28M | $28M | · | $28M | $28M | · | · | · | · | |
| Intangibles | $58M | $61M | $65M | $68M | $3M | $3M | $3M | $3M | $3M | · | $4M | $4M | · | · | · | · | |
| Other Non-current Assets | $4M | $3M | $4M | $4M | $4M | $3M | $4M | $3M | $3M | · | $3M | $4M | $4M | · | $4M | $4M | |
| Total Assets | $1.09B | $1.11B | $1.04B | $1.02B | $889M | $871M | $842M | $826M | $816M | · | $769M | $732M | $721M | · | $677M | $702M | |
| Accounts Payable | $6M | $2M | $4M | $1M | $1M | $2M | $3M | $4M | $5M | · | $6M | $2M | $4M | · | $2M | $3M | |
| Current Liabilities | $441M | $420M | $369M | $354M | $344M | $324M | $308M | $298M | $306M | · | $248M | $248M | $245M | · | $182M | $184M | |
| Capital Leases | $62M | $63M | $64M | $64M | $68M | $69M | $74M | $72M | $72M | · | $77M | $38M | $39M | · | $41M | $44M | |
| Other Non-current Liabilities | $5M | $6M | $6M | $5M | $3M | $2M | $2M | $2M | $2M | · | $5M | $5M | $814.0K | · | $617.0K | $501.0K | |
| Total Liabilities | $508M | $490M | $439M | $423M | $415M | $396M | $384M | $372M | $380M | · | $330M | $291M | $285M | · | $223M | $229M | |
| Paid-in Capital | $1.33B | $1.34B | $1.29B | $1.25B | $1.10B | $1.06B | $1.03B | $996M | $958M | · | $898M | $870M | $833M | · | $783M | $761M | |
| Retained Earnings | $-745M | $-718M | $-687M | $-651M | $-623M | $-587M | $-570M | $-542M | $-519M | · | $-455M | $-424M | $-392M | · | $-320M | $-287M | |
| AOCI | $417.0K | $2M | $270.0K | $-104.0K | $2M | $-926.0K | $348.0K | $-253.0K | $-3M | · | $-5M | $-6M | $-5M | · | $-10M | $-4M | |
| Stockholders' Equity | $582M | $624M | $602M | $599M | $474M | $475M | $458M | $454M | $436M | $444M | $438M | $440M | $435M | $445M | $452M | $471M | |
| Liabilities + Equity | $1.09B | $1.11B | $1.04B | $1.02B | $889M | $871M | $842M | $826M | $816M | · | $769M | $732M | $721M | · | $677M | $702M |
Cash Flow 15
| Metric | Trend | Q1 2027 | Q4 2026 | Q3 2026 | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $6M | $11M | $3M | $3M | $3M | $3M | $3M | $2M | $2M | $3M | $1M | $2M | $2M | $2M | $1M | $900.0K | |
| Stock-based Comp | $36M | $38M | $38M | $38M | $31M | $28M | $28M | $30M | $29M | $24M | $24M | $25M | $24M | $19M | $19M | $17M | |
| Deferred Tax | · | · | · | · | · | · | · | · | · | · | · | · | $20.0K | · | · | · | |
| Amort. of Intangibles | $3M | $3M | $3M | $2M | $100.0K | $200.0K | $100.0K | $100.0K | $200.0K | $300.0K | $200.0K | $100.0K | $0 | · | $0 | $0 | |
| Restructuring | · | · | · | · | · | · | · | · | $0 | · | · | · | $0 | · | · | · | |
| Other Non-cash | $13M | · | · | · | $27M | · | · | · | $24M | · | · | · | $35M | · | · | · | |
| Operating Cash Flow | $28M | $19M | $21M | $7M | $24M | $17M | $-11M | $12M | $19M | $4M | $-2M | $-18M | $23M | $12.0K | $-24M | $-16M | |
| CapEx | $108.0K | $5M | $2M | $3M | $217.0K | $1M | $2M | $3M | $7M | $6M | $3M | $387.0K | $40.0K | $1M | $4M | $8M | |
| Investing Cash Flow | $43M | $-7M | $-6M | $-161M | $123M | $-841.0K | $-8M | $-17M | $-11M | $-497.0K | $-16M | $-28M | $24M | $18M | $-13M | $4M | |
| Stock Repurchased | $50M | · | · | · | $0 | · | · | · | · | · | · | · | · | · | · | · | |
| Net Stock Activity | $-50M | · | · | · | · | · | · | · | · | · | · | · | · | · | · | · | |
| Financing Cash Flow | $-50M | $14M | $1M | $7M | $605.0K | $6M | $1M | $6M | $-2M | $4M | $2M | $5M | $2M | $4M | $2M | $3M | |
| Net Change in Cash | $21M | $27M | $16M | $-146M | $148M | $22M | $-18M | $945.0K | $7M | $8M | $-17M | $-40M | $49M | $23M | $-35M | $-10M | |
| Taxes Paid | $2M | $523.0K | $64.0K | $843.0K | $2M | $427.0K | $562.0K | $380.0K | $2M | $127.0K | $97.0K | $550.0K | $-465.0K | $38.0K | $10.0K | $145.0K | |
| Free Cash Flow | $28M | · | · | · | $24M | · | · | · | $12M | · | · | · | $23M | · | · | · |
Profitability 8
| Metric | Trend | Q1 2027 | Q4 2026 | Q3 2026 | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 65.7% | · | 67.2% | 67.7% | 68.6% | · | 69.8% | 70.2% | 67.1% | · | 70.7% | 69.2% | 67.9% | · | 68.7% | 68.2% | |
| Operating Margin | -13.0% | · | -19.7% | -21.5% | -24.8% | · | -21.4% | -19.2% | -29.6% | · | -28.3% | -30.7% | -41.2% | · | -39.6% | -40.8% | |
| Net Margin | -12.6% | · | -18.9% | -15.5% | -22.1% | · | -18.4% | -15.8% | -26.3% | · | -24.8% | -27.5% | -37.8% | · | -35.8% | -38.2% | |
| Pretax Margin | -11.4% | · | -17.9% | -19.3% | -21.3% | · | -17.9% | -15.4% | -25.8% | · | -24.7% | -27.4% | -37.8% | · | -36.8% | -38.8% | |
| EBITDA Margin | -10.1% | · | -18.1% | -20.1% | -23.2% | · | -19.6% | -17.6% | -28.0% | · | -27.5% | -29.4% | -39.7% | · | -38.5% | -39.7% | |
| ROA | -2.7% | · | -3.8% | -3.0% | -4.2% | · | -3.5% | -2.9% | -4.6% | · | -4.2% | -4.4% | -5.3% | · | -7.7% | -9.4% | |
| ROE | -5.0% | · | -6.8% | -5.3% | -7.9% | · | -6.2% | -5.1% | -8.2% | · | -6.9% | -7.0% | -8.4% | · | -20.0% | -14.0% | |
| ROIC | -5.0% | · | -6.5% | -5.2% | -8.7% | · | -7.3% | -6.3% | -9.4% | · | -8.1% | -8.2% | -9.7% | · | -8.1% | -7.5% |
Liquidity & Solvency 2
| Metric | Trend | Q1 2027 | Q4 2026 | Q3 2026 | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.2 | · | 1.4 | 1.4 | 1.9 | · | 2.0 | 2.0 | 2.0 | · | 2.3 | 2.3 | 2.4 | · | 3.1 | 3.2 | |
| Quick Ratio | 0.6 | · | 0.5 | 0.5 | 0.9 | · | 0.5 | 0.5 | 0.5 | · | 0.5 | 0.6 | 0.7 | · | 0.6 | 0.7 |
Efficiency 2
| Metric | Trend | Q1 2027 | Q4 2026 | Q3 2026 | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.2 | · | 0.2 | 0.2 | 0.2 | · | 0.2 | 0.2 | 0.2 | · | 0.2 | 0.2 | 0.1 | · | 0.2 | 0.2 | |
| Receivables Turnover | 2.1 | · | 2.1 | 2.3 | 1.9 | · | 1.9 | 2.1 | 1.8 | · | 1.9 | 1.9 | 1.9 | · | 2.0 | 3.6 |
Valuation (TTM) 4
| Metric | Trend | Q1 2027 | Q4 2026 | Q3 2026 | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $744M | · | $685M | $640M | $595M | · | $557M | $520M | $476M | · | $434M | $396M | $359M | · | $321M | $283M | |
| Net Income TTM | $-126M | · | $-128M | $-115M | $-122M | · | $-117M | $-121M | $-137M | · | $-134M | $-136M | $-144M | · | $-114M | $-93M | |
| P/E | -18.8 | · | -23.9 | -25.3 | -26.2 | · | -27.1 | -36.1 | -30.1 | · | -30.6 | -31.8 | -19.3 | · | -19.2 | -24.3 | |
| Earnings Yield | -5.3% | · | -4.2% | -4.0% | -3.8% | · | -3.7% | -2.8% | -3.3% | · | -3.3% | -3.1% | -5.2% | · | -5.2% | -4.1% |
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
Income Statement
| 2026-01-31 | 2025-01-31 | 2024-01-31 | 2023-01-31 | 2022-01-31 | |
|---|---|---|---|---|---|
| Revenue | $738M | $593M | $472M | $355M | $238M |
| Gross Margin % | 67.2% | 69.1% | 68.7% | 67.4% | 67.0% |
| Operating Margin % | -19.6% | -20.6% | -30.7% | -41.7% | -32.9% |
| Net Income | $-131M | $-104M | $-129M | $-139M | $-77M |
| Diluted EPS | $-1.22 | $-1.02 | $-1.32 | $-1.47 | $-2.20 |
Balance Sheet
| 2026-01-31 | 2025-01-31 | 2024-01-31 | 2023-01-31 | 2022-01-31 | |
|---|---|---|---|---|---|
| Current Ratio | 1.4 | 2.0 | 2.1 | 2.7 | 3.8 |
| Quick Ratio | 0.6 | 0.5 | 0.6 | 0.7 | 3.4 |
Cash Flow
| 2026-01-31 | 2025-01-31 | 2024-01-31 | 2023-01-31 | 2022-01-31 | |
|---|---|---|---|---|---|
| Free Cash Flow | $62M | $23M | $-3M | $-38M | $-38M |
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Institutional owners (13F) 275 filers · $1.8B 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 |
|---|---|---|---|---|
| 45 (-27 vs prior Q) | 45 (-14 vs prior Q) | 94 (-23 vs prior Q) | 75 (+21 vs prior Q) | +19.4M |
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 |
|---|---|---|---|---|
| FMR LLC | $351,291,110 | 16,195,994 | 19.82% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $121,123,185 | 5,584,287 | 6.84% | Shares |
| Pictet Asset Management Holding SA | $109,517,647 | 5,049,223 | 6.18% | Shares |
| BATTERY MANAGEMENT CORP. | $100,387,588 | 4,628,289 | 5.66% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $86,411,789 | 3,983,946 | 4.88% | Shares |
| MILLENNIUM MANAGEMENT LLC | $82,198,767 | 3,789,708 | 4.64% | Shares |
| WESTFIELD CAPITAL MANAGEMENT CO LP | $56,774,269 | 2,617,532 | 3.20% | Shares |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE | $53,552,697 | 2,469,004 | 3.02% | Shares |
| STATE STREET CORP | $52,052,590 | 2,402,065 | 2.94% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $47,450,113 | 2,187,111 | 2.68% | Shares |
| Optimus Prime Fund Management Co., Ltd. | $43,596,900 | 2,010,000 | 2.46% | Shares |
| AMERICAN CENTURY COMPANIES INC | $38,925,619 | 1,794,633 | 2.20% | Shares |
| Solel Partners LP | $36,265,680 | 1,672,000 | 2.05% | Shares |
| SAPPHIRE VENTURES, L.P. | $36,131,159 | 1,665,798 | 2.04% | Shares |
| Stephens Investment Management Group LLC | $32,974,027 | 1,520,241 | 1.86% | Shares |
| CITADEL ADVISORS LLC | $27,461,687 | 1,266,099 | 1.55% | Shares |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | $26,367,188 | 1,215,638 | 1.49% | Shares |
| NOMURA ASSET MANAGEMENT INTERNATIONAL INC. | $25,028,000 | 1,153,917 | 1.41% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $24,486,817 | 1,128,945 | 1.38% | Shares |
| Verition Fund Management LLC | $18,647,457 | 859,726 | 1.05% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $18,024,737 | 831,016 | 1.02% | Shares |
| NEXT CENTURY GROWTH INVESTORS LLC | $16,208,958 | 747,301 | 0.91% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $15,023,297 | 692,637 | 0.85% | Shares |
| Champlain Investment Partners, LLC | $14,728,551 | 679,048 | 0.83% | Shares |
| ShawSpring Partners LLC | $13,907,498 | 641,194 | 0.78% | Shares |
| First Eagle Investment Management, LLC | $13,226,866 | 609,814 | 0.75% | Shares |
| Connor, Clark & Lunn Investment Management Ltd. | $12,685,483 | 584,854 | 0.72% | Shares |
| Freestone Grove Partners LP | $12,632,039 | 582,390 | 0.71% | Shares |
| GOLDMAN SACHS GROUP INC | $12,363,625 | 570,015 | 0.70% | Shares |
| Glenmede Investment Management, LP | $11,601,074 | 407,914 | 0.65% | Shares |
| Archon Capital Management LLC | $11,490,212 | 529,747 | 0.65% | Shares |
| BANK OF AMERICA CORP /DE/ | $11,270,080 | 519,598 | 0.64% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $10,998,999 | 507,100 | 0.62% | Call option |
| GLENMEDE TRUST CO NA | $10,729,717 | 494,685 | 0.61% | Shares |
| Nuveen, LLC | $10,683,865 | 492,571 | 0.60% | Shares |
| Squarepoint Ops LLC | $8,488,100 | 391,337 | 0.48% | Shares |
| Balyasny Asset Management L.P. | $8,350,954 | 385,014 | 0.47% | Shares |
| CITADEL ADVISORS LLC | $8,309,439 | 383,100 | 0.47% | Call option |
| SUSQUEHANNA FUNDAMENTAL INVESTMENTS, LLC | $7,651,451 | 352,764 | 0.43% | Shares |
| MONIMUS CAPITAL MANAGEMENT, LP | $6,922,168 | 319,141 | 0.39% | Shares |
| KING LUTHER CAPITAL MANAGEMENT CORP | $6,214,619 | 286,520 | 0.35% | Shares |
| PEREGRINE CAPITAL MANAGEMENT LLC | $6,142,847 | 283,211 | 0.35% | Shares |
| Bank of New York Mellon Corp | $6,119,508 | 282,135 | 0.35% | Shares |
| ALLIANCEBERNSTEIN L.P. | $5,617,811 | 237,942 | 0.32% | Shares |
| WELLINGTON MANAGEMENT GROUP LLP | $5,426,404 | 250,180 | 0.31% | Shares |
| CIBC Private Wealth Group LLC | $5,311,938 | 186,777 | 0.30% | Shares |
| Quantinno Capital Management LP | $4,726,685 | 217,920 | 0.27% | Shares |
| STATE OF WISCONSIN INVESTMENT BOARD | $4,689,964 | 216,227 | 0.26% | Shares |
| JANE STREET GROUP, LLC | $4,400,901 | 202,900 | 0.25% | Call option |
| PICTON MAHONEY ASSET MANAGEMENT | $3,760,613 | 173,380 | 0.21% | Shares |
| Swiss National Bank | $3,578,850 | 165,000 | 0.20% | Shares |
| Verition Fund Management LLC | $3,253,500 | 150,000 | 0.18% | Call option |
| Jain Global LLC | $3,129,173 | 144,268 | 0.18% | Shares |
| IEQ CAPITAL, LLC | $2,993,263 | 138,002 | 0.17% | Shares |
| HERALD INVESTMENT MANAGEMENT Ltd | $2,710,000 | 125,000 | 0.15% | Shares |
| ExodusPoint Capital Management, LP | $2,660,517 | 122,661 | 0.15% | Shares |
| RHUMBLINE ADVISERS | $2,596,323 | 119,702 | 0.15% | Shares |
| VICTORY CAPITAL MANAGEMENT INC | $2,539,900 | 117,100 | 0.14% | Shares |
| Walleye Capital LLC | $2,538,923 | 117,055 | 0.14% | Shares |
| VANGUARD GROUP INC | $2,533,242 | 73,877 | 0.14% | Shares |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM | $2,467,623 | 104,516 | 0.14% | Shares |
| Dana Investment Advisors, Inc. | $2,376,920 | 109,586 | 0.13% | Shares |
| UBS Group AG | $2,330,395 | 107,441 | 0.13% | Shares |
| Nebula Research & Development LLC | $2,305,268 | 82,038 | 0.13% | Shares |
| Point72 Asset Management, L.P. | $2,281,224 | 105,174 | 0.13% | Shares |
| AMERIPRISE FINANCIAL INC | $2,144,794 | 98,884 | 0.12% | Shares |
| Corient Private Wealth LP | $2,125,036 | 97,973 | 0.12% | Shares |
| NEW YORK STATE COMMON RETIREMENT FUND | $1,967,153 | 90,694 | 0.11% | Shares |
| BlackRock, Inc. | $1,914,663 | 88,274 | 0.11% | Shares |
| FIRST TRUST ADVISORS LP | $1,840,635 | 84,861 | 0.10% | Shares |
| BOOTHBAY FUND MANAGEMENT, LLC | $1,763,289 | 81,295 | 0.10% | Shares |
| VANGUARD ASSET MANAGEMENT, Ltd | $1,752,704 | 80,807 | 0.10% | Shares |
| RAYMOND JAMES FINANCIAL INC | $1,655,468 | 76,324 | 0.09% | Shares |
| CWM, LLC | $1,594,124 | 67,519 | 0.09% | Shares |
| ENVESTNET ASSET MANAGEMENT INC | $1,569,749 | 72,372 | 0.09% | Shares |
| MetLife Investment Management, LLC | $1,468,305 | 67,695 | 0.08% | Shares |
| PANAGORA ASSET MANAGEMENT INC | $1,265,243 | 58,333 | 0.07% | Shares |
| CITADEL ADVISORS LLC | $1,214,640 | 56,000 | 0.07% | Put option |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $1,175,598 | 54,200 | 0.07% | Put option |
| Cetera Investment Advisers | $1,106,819 | 51,029 | 0.06% | Shares |
| CITIGROUP INC | $1,084,500 | 50,000 | 0.06% | Put option |
| Jasper Ridge Partners, L.P. | $1,069,903 | 49,327 | 0.06% | Shares |
| WOLVERINE TRADING, LLC | $1,066,482 | 33,100 | 0.06% | Call option |
| Prospera Financial Services Inc | $1,055,815 | 48,684 | 0.06% | Shares |
| Mariner, LLC | $1,037,056 | 47,810 | 0.06% | Shares |
| MERCER GLOBAL ADVISORS INC /ADV | $1,005,917 | 46,377 | 0.06% | Shares |
| Blackstone Inc. | $988,218 | 45,561 | 0.06% | Shares |
| State of New Jersey Common Pension Fund D | $980,887 | 45,223 | 0.06% | Shares |
| Palogic Value Management, L.P. | $976,831 | 45,036 | 0.06% | Shares |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. | $956,399 | 44,094 | 0.05% | Shares |
| WEALTH ENHANCEMENT ADVISORY SERVICES, LLC | $908,651 | 36,158 | 0.05% | Shares |
| Zurcher Kantonalbank (Zurich Cantonalbank) | $902,044 | 41,588 | 0.05% | Shares |
| Orion Portfolio Solutions, LLC | $900,304 | 24,953 | 0.05% | Shares |
| JANE STREET GROUP, LLC | $876,276 | 40,400 | 0.05% | Put option |
| Odyssean, LLC | $862,655 | 39,772 | 0.05% | Shares |
| JSF Financial, LLC | $836,323 | 38,558 | 0.05% | Shares |
| Vanguard Global Advisers, LLC | $833,351 | 38,421 | 0.05% | Shares |
| Universal- Beteiligungs- und Servicegesellschaft mbH | $832,288 | 38,372 | 0.05% | Shares |
| Invesco Ltd. | $828,688 | 38,206 | 0.05% | Shares |
| JANUS HENDERSON GROUP PLC | $779,389 | 33,004 | 0.04% | Shares |
Company insiders 24 insiders · 7 officers · 9 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| William Magnuson | Chief Executive Officer | Nov. 3, 2022 C | 171,002 | 0 | 0 | $0 |
| Isabelle Winkles | Chief Financial Officer | June 15, 2023 G | 206,465 | 0 | 0 | $0 |
| Christopher M. Lal | General Counsel & Corp. Sec. | May 29, 2026 A | 230,184 | 0 | 0 | $0 |
| Edward M. Mcdonnell | Chief Revenue Officer | March 18, 2026 A | 536,708 | 0 | 0 | $0 |
| Myles Kleeger | Pres & CCO | Aug. 2, 2023 M | 20,000 | 0 | 0 | $0 |
| Susan Wiseman | General Counsel and Secretary | June 15, 2023 A | 86,473 | 0 | 0 | $0 |
| Pankaj Malik | Chief Accounting Officer | June 15, 2023 A | 92,361 | 0 | 0 | $0 |
| Fernando Machado | Director | June 30, 2026 A | 21,723 | 0 | 0 | $0 |
| Yvonne Wassenaar | Director | June 30, 2026 A | 18,513 | 0 | 0 | $0 |
| Tara Walpert Levy | Director | June 30, 2026 A | 101,993 | 0 | 0 | $0 |
| Neeraj Agrawal | Director | June 30, 2026 A | 202,522 | 0 | 0 | $0 |
| Phillip M Fernandez | Director | June 30, 2026 A | 28,055 | 0 | 0 | $0 |
| David M Obstler | Director | June 30, 2026 A | 75,805 | 0 | 0 | $0 |
| Douglas A Pepper | Director | April 12, 2024 J | 2,263,120 | 0 | 0 | $0 |
| Matthew Jacobson | Director | April 4, 2023 J | 3,037,962 | 0 | 0 | $0 |
| Chelsea R. Stoner | 10% owner | Dec. 22, 2023 S | 17,637 | 0 | 0 | $0 |
| Russell L. Fleischer | 10% owner | Dec. 13, 2023 S | 19,813 | 0 | 0 | $0 |
| Scott R. Tobin | 10% owner | Sept. 12, 2023 S | 0 | 0 | 0 | $0 |
| Dharmesh Thakker | 10% owner | July 5, 2023 S | 0 | 0 | 0 | $0 |
| Michael M. Brown | 10% owner | April 14, 2023 S | 0 | 0 | 0 | $0 |
| Jesse Feldman | 10% owner | April 13, 2023 S | 28,034 | 0 | 0 | $0 |
| Jonathan Hyman | — | Aug. 13, 2026 S | 1,220,416 | 0 | 6 | $-2,680,103 |
| Astha Malik | — | Aug. 10, 2026 S | 278,138 | 0 | 3 | $-2,288,191 |
| Braze, Inc. | — | May 19, 2025 S | 0 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
ETF ownership Held by 48 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 |
|---|---|---|---|---|
| DAT · ProShares Trust | 3.64% | 7,892 NS | May 31, 2026 | N-PORT |
| GSC · Goldman Sachs ETF Trust | 0.59% | 58,125 NS | May 31, 2026 | N-PORT |
| MMSC · First Trust Exchange-Traded Fund VI… | 0.29% | 5,968 NS | May 31, 2026 | N-PORT |
| HAPS · Harbor ETF Trust | 0.28% | 19,882 NS | April 30, 2026 | N-PORT |
| MSSM · MORGAN STANLEY PATHWAY FUNDS | 0.26% | 76,326 NS | May 31, 2026 | N-PORT |
| ESSC · Strategy Shares | 0.19% | 2,224 NS | April 30, 2026 | N-PORT |
| IWO · iShares Trust | 0.15% | 868,392 SH | Aug. 8, 2026 | Daily |
| TMFX · RBB Fund, Inc. | 0.15% | 1,861 NS | May 31, 2026 | N-PORT |
| VTWG · VANGUARD SCOTTSDALE FUNDS | 0.12% | 102,647 SH | Aug. 8, 2026 | Daily |
| FYC · First Trust Exchange-Traded AlphaDE… | 0.10% | 48,527 NS | April 30, 2026 | N-PORT |
| BBSC · J.P. Morgan Exchange-Traded Fund Tr… | 0.10% | 31,585 NS | April 30, 2026 | N-PORT |
| IGV · iShares Trust | 0.09% | 482,632 SH | Aug. 8, 2026 | Daily |
| BKSE · BNY Mellon ETF Trust | 0.08% | 3,068 NS | April 30, 2026 | N-PORT |
| IWM · iShares Trust | 0.08% | 2,418,706 SH | Aug. 8, 2026 | Daily |
| ISCG · iShares Trust | 0.08% | 29,310 SH | Aug. 8, 2026 | Daily |
| VTWO · VANGUARD SCOTTSDALE FUNDS | 0.06% | 551,074 SH | Aug. 8, 2026 | Daily |
| RSSL · Global X Funds | 0.06% | 38,185 NS | April 30, 2026 | N-PORT |
| ITWO · ProShares Trust | 0.06% | 4,146 NS | May 31, 2026 | N-PORT |
| ESML · iShares Trust | 0.05% | 61,053 SH | Aug. 8, 2026 | Daily |
| SCHA · SCHWAB STRATEGIC TRUST | 0.05% | 470,523 NS | May 31, 2026 | N-PORT |
| SMLF · iShares Trust | 0.05% | 84,215 SH | Aug. 8, 2026 | Daily |
| VBK · VANGUARD INDEX FUNDS | 0.05% | 1,122,924 SH | Aug. 8, 2026 | Daily |
| PRFZ · Invesco Exchange-Traded Fund Trust | 0.05% | 52,054 SH | Aug. 8, 2026 | Daily |
| RILA · Spinnaker ETF Series | 0.04% | 675 NS | April 30, 2026 | N-PORT |
| ISCB · iShares Trust | 0.04% | 4,115 SH | Aug. 8, 2026 | Daily |
| UWM · ProShares Trust | 0.03% | 3,242 NS | May 31, 2026 | N-PORT |
| DFAS · Dimensional ETF Trust | 0.03% | 203,133 NS | April 30, 2026 | N-PORT |
| FTEC · FIDELITY COVINGTON TRUST | 0.03% | 228,135 NS | April 30, 2026 | N-PORT |
| GSSC · Goldman Sachs ETF Trust | 0.03% | 9,607 NS | May 31, 2026 | N-PORT |
| URTY · ProShares Trust | 0.02% | 3,282 NS | May 31, 2026 | N-PORT |
| FAD · First Trust Exchange-Traded AlphaDE… | 0.02% | 4,525 NS | April 30, 2026 | N-PORT |
| VXF · VANGUARD INDEX FUNDS | 0.02% | 1,132,545 SH | Aug. 8, 2026 | Daily |
| VB · VANGUARD INDEX FUNDS | 0.02% | 1,931,892 SH | Aug. 8, 2026 | Daily |
| VGT · VANGUARD WORLD FUND | 0.02% | 1,846,307 SH | Aug. 8, 2026 | Daily |
| WSML · iShares Trust | 0.02% | 4,589 SH | Aug. 8, 2026 | Daily |
| IGM · iShares Trust | 0.01% | 46,321 SH | Aug. 8, 2026 | Daily |
| HDG · ProShares Trust | 0.01% | 82 NS | May 31, 2026 | N-PORT |
| OMFS · Invesco Exchange-Traded Self-Indexe… | 0.01% | 978 SH | Aug. 8, 2026 | Daily |
| ONEQ · Fidelity Commonwealth Trust | 0.01% | 32,858 NS | May 31, 2026 | N-PORT |
| SCHB · SCHWAB STRATEGIC TRUST | 0.00% | 64,001 NS | May 31, 2026 | N-PORT |
| ITOT · iShares Trust | 0.00% | 141,056 SH | Aug. 8, 2026 | Daily |
| TILT · FlexShares Trust | 0.00% | 3,116 NS | April 30, 2026 | N-PORT |
| IWV · iShares Trust | 0.00% | 23,384 SH | Aug. 8, 2026 | Daily |
| AVUQ · AMERICAN CENTURY ETF TRUST | 0.00% | 60 NS | May 31, 2026 | N-PORT |
| VTI · VANGUARD INDEX FUNDS | 0.00% | 2,688,935 SH | Aug. 8, 2026 | Daily |
| VT · VANGUARD INTERNATIONAL EQUITY INDEX… | 0.00% | 76,165 SH | Aug. 8, 2026 | Daily |
| VTHR · VANGUARD SCOTTSDALE FUNDS | 0.00% | 8,229 SH | Aug. 8, 2026 | Daily |
| ESGV · VANGUARD WORLD FUND | 0.00% | 21,214 SH | Aug. 8, 2026 | Daily |