Earnings History
EPS actual vs estimate, surprise %, beat rate, next earnings date
14
Avg Surprise-755.7%
Next ReportNov 12, 2026
Period
Report
EPS Actual
EPS Est
Surprise
June 30, 2026
Aug 13, 2026
$-0.31
$-0.05
-575.4%
March 31, 2026
May 15, 2026
$-0.44
$-0.04
-978.4%
Dec. 31, 2025
$-0.61
$-0.02
-3488.2%
Sept. 30, 2025
$0.47
$-0.01
—
June 30, 2025
$0.07
$-0.02
443.1%
March 31, 2025
$-0.32
$-0.06
-480.8%
Dec. 31, 2024
$0.20
$-0.04
545.4%
Full Fundamentals
All metrics by year — income statement, balance sheet, cash flow
15
Income Statement13
Metric
Trend
2025
2024
2023
Revenue
$114M
$108M
$45M
SG&A Expense
$81M
$42M
$28M
Operating Expenses
$205M
$80M
$62M
Operating Income
$-92M
$28M
$-17M
Other Non-op
$-7M
$6M
$3M
Pretax Income
$-87M
$32M
$-14M
Income Tax
$-2M
$4M
$279.0K
Net Income
$-80M
$28M
$-14M
EPS (Basic)
$-0.31
$0.20
$-0.16
EPS (Diluted)
$-0.31
$0.19
$-0.16
Shares (Basic)
257,881,684
140,346,322
87,534,052
Shares (Diluted)
257,881,684
141,507,497
87,534,052
EBITDA
$-55M
$28M
·
Balance Sheet24
Metric
Trend
2025
2024
2023
Cash & Equivalents
$118M
$95M
$17M
Receivables
$24M
$5M
·
Prepaid Expense
·
$290.5K
$382.2K
Other Current Assets
$27M
$28M
$18M
Current Assets
$178M
$297M
$83M
PP&E (Net)
$360M
$107M
$81M
Accum. Depreciation
$66M
$37M
$21M
Goodwill
$20M
$19M
·
Intangibles
$13M
$13M
·
Other Non-current Assets
$29M
$10M
$9M
Total Assets
$1.17B
$538M
$189M
Accounts Payable
$9M
$3M
$2M
Current Liabilities
$93M
$55M
$27M
Capital Leases
$5M
$9M
$4M
Deferred Tax
$10M
$6M
$112.3K
Total Liabilities
$309M
$75M
$37M
Common Stock
$3M
$2M
$1M
Paid-in Capital
$890M
$554M
$291M
Retained Earnings
$-179M
$-98M
$-147M
Treasury Stock
$1M
$1M
$1M
AOCI
$1M
$-2M
·
Stockholders' Equity
$724M
$463M
$153M
Liabilities + Equity
$1.17B
$538M
$189M
Shares Outstanding
324,192,228
179,125,205
107,291,827
Cash Flow12
Metric
Trend
2025
2024
2023
D&A
$37M
$32M
$14M
Stock-based Comp
$25M
$10M
$9M
Deferred Tax
$-3M
$2M
·
Other Non-cash
$-267M
·
·
Operating Cash Flow
$-289M
$-13M
$1M
CapEx
$286M
$94M
$67M
Investing Cash Flow
$-287M
$-149M
$-69M
Stock Issued
·
·
$45M
Dividends Paid
$800.0K
·
$2M
Financing Cash Flow
$599M
$243M
$52M
Taxes Paid
$665.5K
$131.9K
$-632.8K
Free Cash Flow
$-575M
$-107M
·
Profitability7
Metric
Trend
2025
2024
2023
Operating Margin
-80.9%
25.5%
·
Net Margin
-70.7%
26.2%
·
Pretax Margin
-76.6%
29.9%
·
EBITDA Margin
-48.4%
25.5%
·
ROA
-9.4%
7.8%
·
ROE
-14.1%
7.5%
·
ROIC
-12.4%
5.2%
·
Liquidity & Solvency2
Metric
Trend
2025
2024
2023
Current Ratio
6.4
5.4
·
Quick Ratio
1.5
1.8
·
Efficiency2
Metric
Trend
2025
2024
2023
Asset Turnover
0.1
0.3
·
Receivables Turnover
7.8
41.0
·
Per Share5
Metric
Trend
2025
2024
2023
Book Value / Share
$2.23
$2.59
·
Revenue / Share
$0.44
$0.76
·
Cash Flow / Share
$-1.12
$-0.09
·
Cash / Share
$0.37
$0.53
·
EPS (TTM)
$-0.31
$0.19
·
Growth Rates2
Metric
Trend
2025
2024
2023
Revenue YoY
5.1%
140.6%
39.1%
Revenue CAGR 3Y
52.1%
·
·
Valuation (TTM)13
Metric
Trend
2025
2024
2023
Revenue TTM
$114M
$108M
·
Net Income TTM
$-80M
$28M
·
Market Cap
$613M
$525M
·
P/E
-6.1
15.4
·
P/S
5.4
4.9
·
P/B
0.8
1.1
·
P / Tangible Book
0.9
1.2
·
P / Cash Flow
-2.1
-40.4
·
P / FCF
-1.1
-4.9
·
Dividend Yield
0.13%
·
·
Earnings Yield
-16.4%
6.5%
·
Payout Ratio
-1.0%
·
·
Annual Payout
$800.0K
·
·
Income Statement14
Metric
Trend
Q2 2026
Q1 2026
Q4 2025
Q3 2025
Q2 2025
Q1 2025
Q4 2024
Q3 2024
Q2 2024
Q1 2024
Revenue
$32M
$28M
$32M
$30M
$26M
$25M
$26M
$23M
$29M
$30M
SG&A Expense
$23M
$28M
$20M
$33M
$20M
$8M
$16M
$14M
$5M
$6M
Operating Expenses
$115M
$171M
$225M
$-111M
$14M
$77M
$-3M
$59M
$41M
$-17M
Operating Income
$-83M
$-143M
$-193M
$142M
$12M
$-52M
$28M
$-37M
$-11M
$47M
Interest Expense
$100.0K
$155.5K
·
·
·
·
·
·
·
·
Other Non-op
$-8M
$-13M
$-13M
$6M
$5M
$-4M
$3M
$-2M
$69.0K
$5M
Pretax Income
$-113M
$-150M
$-194M
$147M
$16M
$-57M
$30M
$-38M
$-11M
$52M
Income Tax
$-1M
$421.5K
$-5M
$697.7K
$2M
$671.7K
$1M
$628.2K
$541.8K
$2M
Net Income
$-107M
$-147M
$-188M
$151M
$15M
$-58M
$29M
$-39M
$-12M
$50M
EPS (Basic)
$-0.31
$-0.45
$-0.54
$0.48
$0.07
$-0.32
$0.11
$-0.26
$-0.09
$0.44
EPS (Diluted)
$-0.31
$-0.45
$-0.53
$0.47
$0.07
$-0.32
$0.11
$-0.26
$-0.09
$0.43
Shares (Basic)
350,018,575
325,638,843
·
317,296,789
206,889,826
181,413,307
·
149,684,237
128,053,586
114,594,710
Shares (Diluted)
350,018,575
325,638,843
·
318,896,222
208,817,806
181,413,307
·
149,684,237
128,053,586
115,594,710
EBITDA
$-83M
$-133M
·
$142M
$12M
$-52M
·
·
·
·
Balance Sheet28
Metric
Trend
Q2 2026
Q1 2026
Q4 2025
Q3 2025
Q2 2025
Q1 2025
Q4 2024
Q3 2024
Q2 2024
Q1 2024
Cash & Equivalents
$84M
$80M
$118M
$179M
$181M
$58M
$95M
·
·
·
Receivables
$23M
$92M
$24M
$17M
$6M
$3M
$5M
·
·
·
Prepaid Expense
·
·
·
·
·
$438.8K
$290.5K
·
·
·
Other Current Assets
$25M
$25M
$27M
$26M
$27M
$42M
$28M
·
·
·
Current Assets
$245M
$500M
$594M
$673M
$314M
$188M
$297M
·
·
·
PP&E (Net)
$668M
$452M
$360M
$271M
$254M
$185M
$107M
·
·
·
Accum. Depreciation
$78M
$69M
$66M
$54M
$48M
$40M
$37M
·
·
·
Goodwill
$19M
$20M
$20M
$20M
$20M
$19M
$19M
·
·
·
Intangibles
$12M
$12M
$13M
$13M
$13M
$13M
$13M
·
·
·
Other Non-current Assets
$29M
$28M
$29M
$6M
$8M
$8M
$10M
·
·
·
Total Assets
$1.24B
$1.18B
$1.17B
$1.13B
$723M
$485M
$538M
·
·
·
Accounts Payable
$14M
$9M
$9M
$6M
$2M
$2M
$3M
·
·
·
Short-term Debt
$78M
·
·
·
·
·
·
·
·
·
Current Liabilities
$163M
$79M
$93M
$38M
$40M
$48M
$55M
·
·
·
Capital Leases
$10M
$11M
$5M
$36M
$38M
$9M
$9M
·
·
·
Deferred Tax
$14M
$12M
$6M
$9M
$8M
$7M
$6M
·
·
·
Other Non-current Liabilities
$6M
·
·
·
·
·
·
·
·
·
Total Liabilities
$704M
$572M
$309M
$88M
$90M
$68M
$75M
·
·
·
Long-term Debt
$25M
·
·
·
·
·
·
·
·
·
Total Debt
$78M
·
·
·
·
·
·
·
·
·
Common Stock
$4M
$3M
$3M
$3M
$3M
$2M
$2M
·
·
·
Paid-in Capital
$818M
$784M
$890M
$885M
$762M
$566M
$554M
·
·
·
Retained Earnings
$-433M
$-326M
$-179M
$10M
$-141M
$-156M
$-98M
·
·
·
Treasury Stock
$1M
$1M
$1M
$1M
$1M
$1M
$1M
·
·
·
AOCI
$-1M
$130.6K
$1M
$406.4K
$1M
$-2M
$-2M
·
·
·
Stockholders' Equity
$395M
$469M
$724M
$906M
$633M
$417M
$463M
·
·
·
Liabilities + Equity
$1.24B
$1.18B
$1.17B
$1.13B
$723M
$485M
$538M
·
·
·
Shares Outstanding
354,799,305
331,434,734
324,192,228
322,124,795
284,052,291
182,766,342
179,125,205
·
·
·
Cash Flow13
Metric
Trend
Q2 2026
Q1 2026
Q4 2025
Q3 2025
Q2 2025
Q1 2025
Q4 2024
Q3 2024
Q2 2024
Q1 2024
D&A
$10M
$10M
$12M
$10M
$8M
$7M
$9M
$8M
$8M
$7M
Stock-based Comp
$4M
$15M
$2M
$15M
$7M
$252.4K
$4M
$5M
$423.7K
$492.6K
Amort. of Intangibles
$200.0K
$200.0K
·
·
$200.0K
$200.0K
·
·
·
·
Other Non-cash
·
$120M
·
·
·
·
·
·
·
·
Operating Cash Flow
$48M
$-1M
$-84M
$-240M
$18M
$17M
$7M
$10M
$-10M
$-21M
CapEx
$176M
$169M
$122M
$17M
$82M
$65M
$87M
$2M
$5M
$474.4K
Investing Cash Flow
$-170M
$-143M
$-123M
$-16M
$-83M
$-65M
$-125M
$-17M
$-6M
$-474.4K
Stock Issued
·
·
·
$21M
·
·
·
·
·
·
Dividends Paid
$0
$800.0K
$0
$0
$0
$800.0K
·
·
·
·
Financing Cash Flow
$126M
$105M
$146M
$253M
$190M
$9M
$111M
$51M
$42M
$39M
Taxes Paid
$524.1K
$696.9K
$440.5K
$0
·
·
$123.9K
$0
·
·
Free Cash Flow
·
$-170M
·
·
·
$-48M
·
·
·
·
Levered FCF
·
$-170M
·
·
·
·
·
·
·
·
Profitability7
Metric
Trend
Q2 2026
Q1 2026
Q4 2025
Q3 2025
Q2 2025
Q1 2025
Q4 2024
Q3 2024
Q2 2024
Q1 2024
Operating Margin
-257.3%
-511.8%
·
465.5%
45.8%
-208.6%
·
·
·
·
Net Margin
-333.9%
-525.2%
·
495.3%
58.0%
-229.9%
·
·
·
·
Pretax Margin
-352.3%
-536.6%
·
483.9%
64.2%
-227.2%
·
·
·
·
EBITDA Margin
-257.3%
-475.8%
·
465.5%
45.8%
-208.6%
·
·
·
·
ROA
-10.9%
-17.6%
·
26.6%
4.1%
-23.8%
·
·
·
·
ROE
-20.8%
-33.1%
·
33.3%
4.7%
-27.7%
·
·
·
·
ROIC
-17.2%
-30.5%
·
15.6%
1.7%
-12.7%
·
·
·
·
Liquidity & Solvency4
Metric
Trend
Q2 2026
Q1 2026
Q4 2025
Q3 2025
Q2 2025
Q1 2025
Q4 2024
Q3 2024
Q2 2024
Q1 2024
Current Ratio
1.5
6.4
·
17.5
7.8
3.9
·
·
·
·
Quick Ratio
0.7
2.2
·
5.1
4.7
1.2
·
·
·
·
Debt / Equity
0.2
·
·
·
·
·
·
·
·
·
Interest Coverage
-826.1
-919.0
·
·
·
·
·
·
·
·
Efficiency2
Metric
Trend
Q2 2026
Q1 2026
Q4 2025
Q3 2025
Q2 2025
Q1 2025
Q4 2024
Q3 2024
Q2 2024
Q1 2024
Asset Turnover
0.0
0.0
·
0.1
0.1
0.1
·
·
·
·
Receivables Turnover
2.2
0.6
·
3.5
7.9
19.8
·
·
·
·
Per Share5
Metric
Trend
Q2 2026
Q1 2026
Q4 2025
Q3 2025
Q2 2025
Q1 2025
Q4 2024
Q3 2024
Q2 2024
Q1 2024
Book Value / Share
$1.11
$1.42
·
$2.81
$2.23
$2.28
·
·
·
·
Revenue / Share
$0.09
$0.09
·
$0.10
$0.12
$0.14
·
·
·
·
Cash Flow / Share
·
$-0.00
·
·
·
$0.10
·
·
·
·
Cash / Share
$0.24
$0.24
·
$0.56
$0.64
$0.31
·
·
·
·
EPS (TTM)
$-0.82
$-0.44
·
$0.33
$-0.40
$-0.56
·
·
·
·
Valuation (TTM)14
Metric
Trend
Q2 2026
Q1 2026
Q4 2025
Q3 2025
Q2 2025
Q1 2025
Q4 2024
Q3 2024
Q2 2024
Q1 2024
Revenue TTM
$123M
$116M
·
$107M
$99M
$103M
·
·
·
·
Net Income TTM
$-291M
$-169M
·
$137M
$-53M
$-79M
·
·
·
·
Market Cap
$639M
$434M
·
$966M
$622M
$369M
·
·
·
·
Enterprise Value
$634M
·
·
·
·
·
·
·
·
·
P/E
-2.2
-3.0
·
9.1
-5.5
-3.6
·
·
·
·
P/S
5.2
3.7
·
9.0
6.3
3.6
·
·
·
·
P/B
1.6
0.9
·
1.1
1.0
0.9
·
·
·
·
P / Tangible Book
1.8
1.0
·
1.1
1.0
1.0
·
·
·
·
P / Cash Flow
·
-396.6
·
·
·
21.2
·
·
·
·
EV / Revenue
5.2
·
·
·
·
·
·
·
·
·
Dividend Yield
0.13%
0.18%
·
·
·
·
·
·
·
·
Earnings Yield
-45.6%
-33.6%
·
11.0%
-18.3%
-27.7%
·
·
·
·
Payout Ratio
·
-0.55%
·
·
·
-1.4%
·
·
·
·
Annual Payout
$800.0K
$800.0K
·
·
·
·
·
·
·
·
Most recent period on the left · null values shown as ·
Financial Statements
Income statement, balance sheet, cash flow — annual, last 5 years
16
Metric
2025-12-31
2024-12-31
2023-12-31
2022-12-31
Revenue
$114M
$108M
$45M
$32M
Operating Margin %
-80.9%
25.5%
·
·
Net Income
$-80M
$28M
$-14M
$-105M
Diluted EPS
$-0.31
$0.19
$-0.16
$-1.34
Metric
2025-12-31
2024-12-31
2023-12-31
2022-12-31
Current Ratio
6.4
5.4
·
·
Quick Ratio
1.5
1.8
·
·
Metric
2025-12-31
2024-12-31
2023-12-31
2022-12-31
Free Cash Flow
$-575M
$-107M
·
·
Institutional owners (13F)
247 filers
· $369.1M total
· As of June 30, 2026
17
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.
Holders247
Value held$369.1M
New positions48
Exited positions30
Institutional activity — Q2 2026 vs prior quarter
New positions
Exited positions
Increased
Decreased
Net shares change
48 (-3 vs prior Q)
30 (-5 vs prior Q)
94 (+43 vs prior Q)
49 (-32 vs prior Q)
+40.9M
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.
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.
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.
Company insiders
4 insiders
· 3 officers · 2 directors