CERT Certara, Inc. - Common Stock
$8.10
Price · Aug 18, 2026
Fundamentals as of Aug 4, 2026
52W Range
$4–$14
39% of range
Analyst Rating
HOLD
19 analysts
Price Target
$8
+1% upside
P/E (TTM)
-834.3
ROE
-0.15%
Net Profit Margin
-0.38%
CERT Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$8.10
Market Cap
$1.33B
P/E (TTM)
-834.3
EPS (TTM)
$-0.01
Revenue (TTM)
$419M
Div Yield
—
ROE
-0.15%
Debt/Equity
0.3
52W Range
$4 – $14
CERT 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
$419M
2019-12-31
→
2025-12-31
EPS
$-0.01
2019-12-31
→
2025-12-31
Free Cash Flow
$95M
2021-12-31
→
2025-12-31
Margins
-0.38%
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Metric
5Y trend
CERT
Peer Median
P/E (TTM)
-834.3
39.8
P/S (TTM)
3.2
3.5
P/B
1.2
2.1
EV / EBITDA
14.9
—
Price / FCF
14.0
—
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Metric
5Y trend
CERT
Peer Median
Operating Margin
5.0%
—
Net Profit Margin
-0.38%
1.5%
ROA
-0.10%
0.92%
ROE
-0.15%
3.3%
ROIC
-0.32%
—
Financial Health Debt, liquidity, solvency — balance sheet strength
Metric
5Y trend
CERT
Peer Median
Debt / Equity
0.3
—
Current Ratio
2.1
2.2
Quick Ratio
1.9
—
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Metric
5Y trend
CERT
Peer Median
Revenue YoY
8.8%
—
Revenue CAGR 3Y
7.7%
—
Revenue CAGR 5Y
11.5%
—
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
Metric
5Y trend
CERT
Peer Median
CERT Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
BUY
19 analysts
- Strong Buy 3 15.8%
- Buy 7 36.8%
- Hold 9 47.4%
- Sell 0 0.0%
- Strong Sell 0 0.0%
12-Month Price Target
10 analysts · 2026-08-19
Median
$8.20
Now
$8.10
Low
$7.00
High
$9.00
Median target
$8.20
+1.3%
Mean target
$8.19
+1.1%
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 | $0.08 | $0.10 | -0.02% |
| March 31, 2026 | $0.09 | $0.11 | -0.02% |
| Dec. 31, 2025 | $0.09 | $0.11 | -0.02% |
| Sept. 30, 2025 | $0.14 | $0.11 | 0.03% |
| June 30, 2025 | $0.07 | $0.10 | -0.03% |
| March 31, 2025 | $0.14 | $0.11 | 0.03% |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| CERT | $1.40B | -881.0 | 8.8% | -0.38% | -0.15% | — |
| WAY | $6.27B | 53.7 | 16.5% | 10.2% | 3.2% | — |
| HTFL | $2.49B | -9.2 | 39.9% | -66.3% | 39.3% | 76.8% |
| SDGR | — | -12.7 | 23.3% | -40.4% | -29.2% | 55.7% |
| GDRX | — | 30.1 | 0.57% | 3.8% | 4.8% | — |
| TDOC | $1.25B | -6.1 | -1.5% | -7.9% | -14.3% | — |
| HSTM | $682M | 37.8 | 4.3% | 6.0% | 5.2% | — |
| PHR | — | 335.8 | 14.5% | 0.48% | 0.73% | — |
| CTEV | $708M | -2.5 | 3.7% | -29.4% | 265.9% | — |
| VEEV | $33.40B | 37.5 | 16.3% | 28.4% | 13.1% | 75.5% |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement 16
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $419M | $385M | $354M | $336M | $286M | $244M | $209M | |
| Cost of Revenue | · | · | $141M | $133M | $112M | $101M | $80M | |
| R&D Expense | $41M | $37M | $34M | $28M | $20M | $20M | $12M | |
| SG&A Expense | $85M | $94M | $95M | $72M | $80M | $88M | $48M | |
| Operating Expenses | $237M | $232M | $254M | $171M | $161M | $167M | $109M | |
| Operating Income | $21M | $-2M | $-41M | $33M | $14M | $-24M | $20M | |
| Interest Expense | · | · | $23M | $18M | $17M | $25M | $28M | |
| Other Non-op | $6M | $6M | $9M | $-14M | $-17M | $-26M | $-29M | |
| Pretax Income | $8M | $-17M | $-55M | $19M | $-3M | $-50M | $-9M | |
| Income Tax | $9M | $-5M | $214.0K | $4M | $10M | $-784.0K | $-225.0K | |
| Net Income | $-2M | $-12M | $-55M | $15M | $-13M | $-49M | $-9M | |
| EPS (Basic) | $-0.01 | $-0.08 | $-0.35 | $0.09 | $-0.09 | $-0.37 | $-0.07 | |
| EPS (Diluted) | $-0.01 | $-0.08 | $-0.35 | $0.09 | $-0.09 | $-0.37 | $-0.07 | |
| Shares (Basic) | 160,394,418 | 160,392,805 | 158,936,251 | 156,876,942 | 149,842,668 | 133,247,212 | 132,407,786 | |
| Shares (Diluted) | 160,394,418 | 160,392,805 | 158,936,251 | 159,354,394 | 149,842,668 | 133,247,212 | 132,407,786 | |
| EBITDA | $96M | $263.0K | · | $34M | $16M | · | · |
Balance Sheet 29
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $189M | $179M | $235M | $237M | $186M | $271M | $29M | |
| Receivables | $95M | $91M | $75M | $72M | $60M | $46M | · | |
| Prepaid Expense | $22M | $29M | $20M | $20M | $19M | $19M | · | |
| Other Current Assets | $1M | $2M | $1M | $732.0K | $767.0K | $1M | · | |
| Current Assets | $315M | $311M | $340M | $342M | $275M | $347M | · | |
| PP&E (Net) | $2M | $2M | $3M | $2M | $3M | $4M | · | |
| PP&E (Gross) | $8M | $8M | $9M | $9M | $11M | · | · | |
| Accum. Depreciation | $6M | $6M | $7M | $7M | $9M | · | · | |
| Goodwill | $745M | $757M | $716M | $718M | $703M | $519M | $515M | |
| Intangibles | $362M | $485M | $487M | $487M | $512M | $396M | · | |
| Other Non-current Assets | $2M | $2M | $3M | $6M | $2M | $1M | · | |
| Total Assets | $1.56B | $1.58B | $1.56B | $1.57B | $1.51B | $1.27B | · | |
| Accounts Payable | $3M | $4M | $5M | $8M | $7M | $6M | · | |
| Accrued Liabilities | $60M | $56M | $57M | $35M | $30M | $31M | · | |
| Current Liabilities | $153M | $146M | $130M | $103M | $92M | $75M | · | |
| Capital Leases | $8M | $11M | $7M | $10M | $8M | $318.0K | · | |
| Deferred Tax | $34M | $40M | $51M | $65M | $76M | $76M | · | |
| Other Non-current Liabilities | $5M | $25M | $39M | $22M | $25.0K | $1M | · | |
| Total Liabilities | $494M | $516M | $516M | $493M | $470M | $447M | · | |
| Long-term Debt | $293M | $295M | $291M | $293M | $295M | $299M | · | |
| Total Debt | $293M | $295M | · | $293M | $295M | · | · | |
| Common Stock | · | · | · | $2M | $2M | $2M | · | |
| Paid-in Capital | $1.26B | $1.22B | $1.18B | $1.15B | $1.12B | $885M | · | |
| Retained Earnings | $-130M | $-128M | $-116M | $-61M | $-76M | $-62M | · | |
| Treasury Stock | $67M | $18M | $9M | $3M | $38.0K | · | · | |
| AOCI | $2M | $-13M | $-8M | $-8M | $-4M | $-2M | · | |
| Stockholders' Equity | $1.06B | $1.06B | $1.05B | $1.08B | $1.04B | $822M | $492M | |
| Liabilities + Equity | $1.56B | $1.58B | $1.56B | $1.57B | $1.51B | $1.27B | · | |
| Shares Outstanding | 159,139,562 | 161,958,810 | 160,284,901 | 159,676,150 | 159,660,048 | 152,979,479 | · |
Cash Flow 17
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| D&A | $75M | $68M | $56M | $2M | $2M | $2M | $3M | |
| Deferred Tax | $-8M | $-13M | $-17M | $-12M | $-1M | $-8M | $-7M | |
| Amort. of Intangibles | $73M | $66M | $55M | $51M | $43M | $40M | $39M | |
| Other Non-cash | $31M | $103M | · | $88M | $73M | · | · | |
| Operating Cash Flow | $96M | $80M | $83M | $93M | $60M | $45M | $38M | |
| CapEx | $2M | $2M | $2M | $1M | $1M | $863.0K | $2M | |
| Investing Cash Flow | $-27M | $-112M | $-80M | $-28M | $-270M | $-9M | $-10M | |
| Debt Issued | · | · | $0 | $0 | $89.0K | · | · | |
| Net Debt Issued | · | · | · | · | $89.0K | · | · | |
| Stock Issued | · | · | $0 | $0 | $133M | $316M | · | |
| Stock Repurchased | $43M | $0 | $0 | · | · | $1M | $703.0K | |
| Net Stock Activity | $-43M | · | · | · | $133M | · | · | |
| Financing Cash Flow | $-64M | $-21M | $-9M | $-7M | $123M | $208M | $-8M | |
| Net Change in Cash | $10M | $-56M | $-5M | $53M | $-87M | $244M | $18M | |
| Taxes Paid | $12M | $15M | $19M | $10M | $9M | $12M | $4M | |
| Free Cash Flow | $95M | $79M | · | $91M | $59M | · | · | |
| Levered FCF | · | · | · | $77M | $-7M | · | · |
Profitability 7
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Operating Margin | 5.0% | -0.45% | · | 9.7% | 4.8% | · | · | |
| Net Margin | -0.38% | -3.1% | · | 4.4% | -4.6% | · | · | |
| Pretax Margin | 1.8% | -4.5% | · | 5.6% | -1.2% | · | · | |
| EBITDA Margin | 23.0% | 0.07% | · | 10.2% | 5.5% | · | · | |
| ROA | -0.10% | -0.77% | · | 0.96% | -0.95% | · | · | |
| ROE | -0.15% | -1.1% | · | 1.4% | -1.3% | · | · | |
| ROIC | -0.32% | -0.09% | · | 1.9% | 4.0% | · | · |
Liquidity & Solvency 5
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.1 | 2.1 | · | 3.3 | 3.0 | · | · | |
| Quick Ratio | 1.9 | 1.8 | · | 3.0 | 2.7 | · | · | |
| Debt / Equity | 0.3 | 0.3 | · | 0.3 | 0.3 | · | · | |
| LT Debt / Equity | 0.3 | 0.3 | · | 0.3 | 0.3 | · | · | |
| Interest Coverage | · | · | · | 1.8 | 0.8 | · | · |
Efficiency 2
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.3 | 0.2 | · | 0.2 | 0.2 | · | · | |
| Receivables Turnover | 4.5 | 4.6 | · | 5.1 | 5.4 | · | · |
Growth Rates 3
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Revenue YoY | 8.8% | 8.7% | 5.6% | 17.3% | 17.5% | · | · | |
| Revenue CAGR 3Y | 7.7% | 10.4% | 13.3% | · | · | · | · | |
| Revenue CAGR 5Y | 11.5% | · | · | · | · | · | · |
Valuation (TTM) 13
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $419M | $385M | $354M | $336M | $286M | $244M | · | |
| Net Income TTM | $-2M | $-12M | $-55M | $15M | $-13M | $-49M | · | |
| Market Cap | $1.40B | $1.71B | · | $2.56B | $4.54B | · | · | |
| Enterprise Value | $1.51B | $1.83B | · | $2.62B | $4.65B | · | · | |
| P/E | -881.0 | -133.1 | -50.3 | 178.6 | -315.8 | -91.1 | · | |
| P/S | 3.3 | 4.5 | · | 7.6 | 15.9 | · | · | |
| P/B | 1.3 | 1.6 | · | 2.4 | 4.4 | · | · | |
| P / Cash Flow | 14.6 | 21.3 | · | 27.7 | 75.1 | · | · | |
| P / FCF | 14.8 | 21.7 | · | 28.1 | 76.6 | · | · | |
| EV / EBITDA | 15.7 | 6961.9 | · | 76.5 | 295.7 | · | · | |
| EV / FCF | 15.9 | 23.2 | · | 28.8 | 78.4 | · | · | |
| EV / Revenue | 3.6 | 4.8 | · | 7.8 | 16.2 | · | · | |
| Earnings Yield | -0.11% | -0.75% | -2.0% | 0.56% | -0.32% | -1.1% | · |
Income Statement 16
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $93M | $107M | $104M | $105M | $92M | $106M | $100M | $95M | $93M | $97M | $88M | $86M | $90M | $90M | $87M | $85M | |
| Cost of Revenue | · | · | · | · | · | · | · | · | · | · | · | $36M | $36M | $35M | · | $33M | |
| R&D Expense | $10M | $12M | $11M | $10M | $9M | $11M | $8M | $8M | $9M | $12M | $8M | $9M | $8M | $9M | $7M | $6M | |
| SG&A Expense | $22M | $29M | $24M | $25M | $17M | $20M | $21M | $22M | $28M | $23M | $34M | $28M | $14M | $20M | $18M | $17M | |
| Operating Expenses | $58M | $70M | $64M | $62M | $50M | $57M | $56M | $55M | $63M | $59M | $62M | $102M | $41M | $48M | $43M | $41M | |
| Operating Income | $-196.0K | $-4M | $836.0K | $3M | $8M | $8M | $6M | $3M | $-9M | $-1M | $-8M | $-53M | $13M | $7M | $11M | $11M | |
| Interest Expense | · | · | · | · | · | · | · | · | · | $6M | · | $6M | $6M | $5M | · | $5M | |
| Other Non-op | $-1M | $1M | $1M | $2M | $2M | $2M | $1M | $932.0K | $2M | $2M | $2M | $5M | $1M | $506.0K | $-8M | $-2M | |
| Pretax Income | $-6M | $-8M | $-3M | $-267.0K | $4M | $5M | $2M | $-2M | $-12M | $-5M | $-12M | $-54M | $8M | $2M | $4M | $8M | |
| Income Tax | $-307.0K | $820.0K | $3M | $-2M | $3M | $-201.0K | $-4M | $-290.0K | $305.0K | $-751.0K | $72.0K | $-5M | $4M | $1M | $-5M | $5M | |
| Net Income | $-55M | $-9M | $-6M | $2M | $-2M | $5M | $7M | $-1M | $-13M | $-5M | $-12M | $-49M | $5M | $1M | $9M | $4M | |
| EPS (Basic) | $-0.36 | $-0.06 | $-0.04 | $0.01 | $-0.01 | $0.03 | $0.04 | $-0.01 | $-0.08 | $-0.03 | $-0.08 | $-0.31 | $0.03 | $0.01 | $0.05 | $0.03 | |
| EPS (Diluted) | $-0.36 | $-0.06 | $-0.04 | $0.01 | $-0.01 | $0.03 | $0.04 | $-0.01 | $-0.08 | $-0.03 | $-0.08 | $-0.31 | $0.03 | $0.01 | $0.06 | $0.02 | |
| Shares (Basic) | 154,356,779 | 157,754,647 | -321,920,908 | 160,403,011 | 160,916,057 | 160,996,258 | -320,278,740 | 160,642,052 | 160,505,223 | 159,524,270 | -317,361,802 | 159,165,206 | 158,955,822 | 158,177,025 | -312,678,901 | 157,140,166 | |
| Shares (Diluted) | 154,356,779 | 157,754,647 | -322,472,501 | 160,600,570 | 161,849,002 | 161,350,292 | -320,278,740 | 160,642,052 | 160,505,223 | 159,524,270 | -319,863,339 | 159,165,206 | 159,906,972 | 159,727,412 | -315,872,296 | 159,587,645 | |
| EBITDA | $-196.0K | $15M | · | $3M | $10M | $8M | · | $3M | $-9M | $-855.0K | · | $-53M | $13M | $8M | · | $11M |
Balance Sheet 29
| 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 | $184M | $149M | $189M | $173M | $162M | $179M | $179M | $233M | $225M | $225M | · | $272M | $245M | $244M | · | $211M | |
| Receivables | $81M | $83M | $95M | $77M | $83M | $78M | $91M | $96M | $90M | $81M | · | $77M | $84M | $70M | · | $75M | |
| Prepaid Expense | $27M | $25M | $22M | $22M | $22M | $28M | $29M | $22M | $22M | $23M | · | $21M | $21M | $19M | · | $17M | |
| Other Current Assets | $2M | $2M | $1M | $3M | $1M | $2M | $2M | $2M | $2M | $1M | · | $825.0K | $1M | $880.0K | · | $1M | |
| Current Assets | $312M | $271M | $315M | $283M | $281M | $300M | $311M | $351M | $337M | $328M | · | $370M | $353M | $348M | · | $305M | |
| PP&E (Net) | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $3M | $3M | $3M | · | $2M | $2M | $2M | · | $3M | |
| PP&E (Gross) | · | · | $8M | · | · | · | $8M | · | · | · | · | · | · | · | · | · | |
| Accum. Depreciation | · | · | $6M | · | · | · | $6M | · | · | · | · | · | · | · | · | · | |
| Goodwill | $718M | $771M | $773M | $773M | $772M | $764M | $757M | $718M | $716M | $716M | $716M | $673M | $722M | $719M | $718M | $697M | |
| Intangibles | $345M | $433M | $447M | $460M | $469M | $475M | $485M | $453M | $463M | $474M | · | $463M | $474M | $477M | · | $482M | |
| Other Non-current Assets | $3M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $3M | $3M | · | $5M | $5M | $4M | · | $7M | |
| Total Assets | $1.40B | $1.50B | $1.56B | $1.54B | $1.54B | $1.56B | $1.58B | $1.54B | $1.54B | $1.54B | · | $1.53B | $1.57B | $1.57B | · | $1.51B | |
| Accounts Payable | $3M | $4M | $3M | $3M | $5M | $5M | $4M | $2M | $5M | $4M | · | $5M | $4M | $4M | · | $3M | |
| Accrued Liabilities | $36M | $57M | $67M | $60M | $47M | $23M | $56M | $53M | $56M | $33M | · | $45M | $39M | $30M | · | $27M | |
| Current Liabilities | $122M | $144M | $153M | $136M | $130M | $108M | $146M | $123M | $129M | $101M | · | $105M | $103M | $94M | · | $77M | |
| Capital Leases | $7M | $8M | $8M | $9M | $9M | $10M | $11M | $10M | $11M | $12M | · | $7M | $8M | $9M | · | $9M | |
| Deferred Tax | $9M | $35M | $34M | $31M | $37M | $39M | $40M | $38M | $38M | $46M | · | $46M | $55M | $63M | · | $76M | |
| Other Non-current Liabilities | $3M | $4M | $5M | $4M | $4M | $27M | $25M | $25M | $24M | $40M | · | $26M | $18M | $23M | · | $1M | |
| Total Liabilities | $433M | $483M | $494M | $471M | $473M | $477M | $516M | $490M | $496M | $488M | · | $475M | $475M | $482M | · | $454M | |
| Long-term Debt | $292M | $292M | $293M | $294M | $294M | $295M | $295M | $296M | $297M | $291M | · | $292M | $292M | $293M | · | $293M | |
| Total Debt | $292M | $292M | · | $294M | $294M | $295M | · | $296M | $297M | $291M | · | $292M | $292M | $293M | · | $293M | |
| Common Stock | · | · | · | · | · | · | · | · | · | · | · | · | · | $2M | · | $2M | |
| Paid-in Capital | $1.28B | $1.26B | $1.26B | $1.25B | $1.24B | $1.23B | $1.22B | $1.21B | $1.20B | $1.19B | · | $1.17B | $1.16B | $1.16B | · | $1.14B | |
| Retained Earnings | $-194M | $-139M | $-130M | $-124M | $-126M | $-124M | $-128M | $-135M | $-133M | $-121M | · | $-104M | $-55M | $-60M | · | $-70M | |
| Treasury Stock | $128M | $107M | $67M | $62M | $48M | $18M | $18M | $18M | $17M | $11M | · | $9M | $9M | $8M | · | $3M | |
| AOCI | $9M | $-2M | $2M | $2M | $5M | $-5M | $-13M | $-5M | $-8M | $-7M | · | $-8M | $-3M | $-7M | · | $-18M | |
| Stockholders' Equity | $967M | $1.02B | $1.06B | $1.06B | $1.07B | $1.08B | $1.06B | $1.05B | $1.04B | $1.05B | $1.05B | $1.05B | $1.10B | $1.09B | $1.08B | $1.05B | |
| Liabilities + Equity | $1.40B | $1.50B | $1.56B | $1.54B | $1.54B | $1.56B | $1.58B | $1.54B | $1.54B | $1.54B | · | $1.53B | $1.57B | $1.57B | · | $1.51B | |
| Shares Outstanding | 152,499,023 | 153,325,078 | 159,139,562 | 159,396,847 | 160,614,890 | 161,475,707 | 161,009,112 | 160,900,211 | 160,881,314 | 160,191,094 | 160,284,901 | 159,848,766 | 159,777,284 | 159,839,743 | 159,676,150 | 159,781,270 |
Cash Flow 13
| 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 | $13M | $19M | $19M | $19M | $37M | $19M | $18M | $49M | $33M | $432.0K | $55M | $367.0K | $361.0K | $411.0K | $410.0K | $417.0K | |
| Deferred Tax | $-3M | $-6M | $-866.0K | $-5M | $-12M | $11M | $-69.0K | $789.0K | $-9M | $-5M | $2M | $-8M | $-9M | $-2M | $-8M | $2M | |
| Other Non-cash | · | $7M | · | · | · | $1M | · | · | · | $13M | · | · | · | $10M | · | · | |
| Operating Cash Flow | $10M | $12M | $29M | $32M | $18M | $17M | $49M | $17M | $10M | $4M | $23M | $31M | $18M | $10M | $35M | $24M | |
| CapEx | $621.0K | $631.0K | $1M | $221.0K | $-64.0K | $600.0K | $415.0K | $164.0K | $427.0K | $619.0K | $878.0K | $311.0K | $271.0K | $317.0K | $181.0K | $390.0K | |
| Investing Cash Flow | $62M | $-7M | $-7M | $-7M | $-7M | $-6M | $-97M | $-6M | $-6M | $-4M | $-61M | $-4M | $-12M | $-3M | $-13M | $-3M | |
| Stock Repurchased | $17M | $40M | $4M | $14M | $25M | $0 | $0 | $0 | · | · | · | · | · | · | · | · | |
| Net Stock Activity | · | $-40M | · | · | · | · | · | · | · | · | · | · | · | · | · | · | |
| Financing Cash Flow | $-39M | $-44M | $-5M | $-14M | $-31M | $-14M | $-1M | $-6M | $-4M | $-10M | $-1M | $-925.0K | $-6M | $-850.0K | $-968.0K | $-1M | |
| Net Change in Cash | $35M | $-40M | $17M | $10M | $-17M | $-97.0K | $-54M | $8M | $-177.0K | $-10M | $-37M | $24M | $972.0K | $8M | $26M | $16M | |
| Taxes Paid | $10M | $2M | $3M | $3M | $5M | $688.0K | $3M | $3M | $5M | $4M | $7M | $3M | $9M | $517.0K | $2M | $2M | |
| Free Cash Flow | · | $11M | · | · | · | $17M | · | · | · | $4M | · | · | · | $10M | · | · | |
| Levered FCF | · | · | · | · | · | · | · | · | · | $-1M | · | · | · | $7M | · | · |
Profitability 7
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | -0.21% | -4.0% | · | 2.9% | 9.1% | 7.2% | · | 2.7% | -9.7% | -1.3% | · | -61.7% | 14.4% | 8.2% | · | 12.8% | |
| Net Margin | -59.3% | -8.2% | · | 1.5% | -1.9% | 4.5% | · | -1.5% | -13.5% | -4.9% | · | -57.2% | 5.2% | 1.5% | · | 4.7% | |
| Pretax Margin | -6.9% | -7.4% | · | -0.26% | 6.0% | 4.3% | · | -1.8% | -13.2% | -5.6% | · | -62.6% | 9.3% | 2.7% | · | 10.0% | |
| EBITDA Margin | -0.21% | 13.8% | · | 2.9% | 9.1% | 8.0% | · | 2.7% | -9.7% | -0.88% | · | -61.7% | 14.4% | 8.7% | · | 13.3% | |
| ROA | -3.8% | -0.57% | · | 0.10% | -0.13% | 0.31% | · | -0.09% | -0.81% | -0.30% | · | -3.2% | 0.31% | 0.09% | · | 0.27% | |
| ROE | -5.4% | -0.83% | · | 0.14% | -0.19% | 0.44% | · | -0.13% | -1.2% | -0.44% | · | -4.7% | 0.44% | 0.13% | · | 0.39% | |
| ROIC | -0.01% | -0.36% | · | -1.3% | -0.22% | 0.58% | · | 0.16% | -0.69% | -0.08% | · | -3.6% | 0.53% | 0.30% | · | 0.37% |
Liquidity & Solvency 5
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.6 | 1.9 | · | 2.1 | 2.2 | 2.8 | · | 2.9 | 2.6 | 3.3 | · | 3.5 | 3.4 | 3.7 | · | 4.0 | |
| Quick Ratio | 2.2 | 1.6 | · | 1.8 | 1.9 | 2.4 | · | 2.7 | 2.4 | 3.0 | · | 3.3 | 3.2 | 3.3 | · | 3.7 | |
| Debt / Equity | 0.3 | 0.3 | · | 0.3 | 0.3 | 0.3 | · | 0.3 | 0.3 | 0.3 | · | 0.3 | 0.3 | 0.3 | · | 0.3 | |
| LT Debt / Equity | 0.3 | 0.3 | · | 0.3 | 0.3 | 0.3 | · | 0.3 | 0.3 | 0.3 | · | 0.3 | 0.3 | 0.3 | · | 0.3 | |
| Interest Coverage | · | · | · | · | · | · | · | · | · | -0.2 | · | -8.9 | 2.3 | 1.4 | · | 2.1 |
Efficiency 2
| 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 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | |
| Receivables Turnover | 1.1 | 1.3 | · | 1.2 | 1.2 | 1.3 | · | 1.1 | 1.1 | 1.3 | · | 1.1 | 1.1 | 1.3 | · | 1.2 |
Valuation (TTM) 13
| 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 | $397M | $422M | · | $410M | $399M | $391M | · | $370M | $366M | $363M | · | $351M | $348M | $339M | · | $323M | |
| Net Income TTM | $-64M | $-4M | · | $3M | $-11M | $-14M | · | $-68M | $-62M | $-48M | · | $-39M | $9M | $7M | · | $4M | |
| Market Cap | $999M | $874M | · | $1.95B | $1.88B | $1.60B | · | $1.88B | $2.23B | $2.86B | · | $2.32B | $2.91B | $3.85B | · | $2.12B | |
| Enterprise Value | $1.11B | $1.02B | · | $2.07B | $2.01B | $1.71B | · | $1.95B | $2.30B | $2.93B | · | $2.34B | $2.96B | $3.90B | · | $2.20B | |
| P/E | -15.6 | -190.0 | · | 611.0 | -167.1 | -110.0 | · | -27.2 | -35.5 | -59.6 | · | -58.2 | 303.5 | 602.8 | · | 664.0 | |
| P/S | 2.5 | 2.1 | · | 4.8 | 4.7 | 4.1 | · | 5.1 | 6.1 | 7.9 | · | 6.6 | 8.4 | 11.4 | · | 6.6 | |
| P/B | 1.0 | 0.9 | · | 1.8 | 1.8 | 1.5 | · | 1.8 | 2.1 | 2.7 | · | 2.2 | 2.7 | 3.6 | · | 2.0 | |
| P / Cash Flow | · | 74.7 | · | · | · | 92.1 | · | · | · | 666.7 | · | · | · | 387.0 | · | · | |
| P / FCF | · | 79.0 | · | · | · | 95.4 | · | · | · | 779.0 | · | · | · | 399.8 | · | · | |
| EV / EBITDA | -5645.8 | 68.8 | · | 688.4 | 210.5 | 201.8 | · | 750.6 | -254.4 | -3427.2 | · | -44.4 | 226.7 | 497.2 | · | 195.5 | |
| EV / FCF | · | 91.9 | · | · | · | 102.3 | · | · | · | 796.9 | · | · | · | 404.8 | · | · | |
| EV / Revenue | 2.8 | 2.4 | · | 5.0 | 5.0 | 4.4 | · | 5.3 | 6.3 | 8.1 | · | 6.7 | 8.5 | 11.5 | · | 6.8 | |
| Earnings Yield | -6.4% | -0.53% | · | 0.16% | -0.60% | -0.91% | · | -3.7% | -2.8% | -1.7% | · | -1.7% | 0.33% | 0.17% | · | 0.15% |
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 | $419M | $385M | $354M | $336M | $286M |
| Operating Margin % | 5.0% | -0.45% | — | 9.7% | 4.8% |
| Net Income | $-2M | $-12M | $-55M | $15M | $-13M |
| Diluted EPS | $-0.01 | $-0.08 | $-0.35 | $0.09 | $-0.09 |
Balance Sheet
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Debt / Equity | 0.3 | 0.3 | — | 0.3 | 0.3 |
| Current Ratio | 2.1 | 2.1 | — | 3.3 | 3.0 |
| Quick Ratio | 1.9 | 1.8 | — | 3.0 | 2.7 |
Cash Flow
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Free Cash Flow | $95M | $79M | — | $91M | $59M |
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Institutional owners (13F) 258 filers · $754.0M 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 |
|---|---|---|---|---|
| 64 (+6 vs prior Q) | 66 (+18 vs prior Q) | 85 (-14 vs prior Q) | 62 (+3 vs prior Q) | +6.2M |
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 |
|---|---|---|---|---|
| VANGUARD GROUP INC | $97,056,801 | 11,016,663 | 12.87% | Shares |
| DEERFIELD MANAGEMENT COMPANY, L.P. | $49,209,678 | 7,512,928 | 6.53% | Shares |
| Haveli Investment Management LLC | $48,470,000 | 7,400,000 | 6.43% | Shares |
| Jefferies Financial Group Inc. | $46,446,384 | 7,091,051 | 6.16% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $46,217,494 | 7,056,106 | 6.13% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $37,963,420 | 5,795,942 | 5.03% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $34,604,829 | 5,283,180 | 4.59% | Shares |
| STATE STREET CORP | $31,582,823 | 4,821,805 | 4.19% | Shares |
| WASATCH ADVISORS LP | $30,051,346 | 5,272,166 | 3.99% | Shares |
| FORT WASHINGTON INVESTMENT ADVISORS INC /OH/ | $18,760,536 | 2,864,204 | 2.49% | Shares |
| ROYCE & ASSOCIATES LP | $18,051,970 | 2,756,026 | 2.39% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $17,677,440 | 2,698,229 | 2.34% | Shares |
| MILLENNIUM MANAGEMENT LLC | $16,736,075 | 2,555,126 | 2.22% | Shares |
| FIRST TRUST ADVISORS LP | $15,878,580 | 2,424,222 | 2.11% | Shares |
| AQR CAPITAL MANAGEMENT LLC | $13,705,074 | 2,151,503 | 1.82% | Shares |
| AMERIPRISE FINANCIAL INC | $13,291,241 | 2,029,197 | 1.76% | Shares |
| Glenmede Investment Management, LP | $12,649,545 | 1,035,151 | 1.68% | Shares |
| SYSTEMATIC FINANCIAL MANAGEMENT LP | $12,215,586 | 1,864,975 | 1.62% | Shares |
| Kopion Asset Management, LLC | $12,173,430 | 1,858,539 | 1.61% | Shares |
| Boston Partners | $10,796,005 | 1,648,218 | 1.43% | Shares |
| Dixon Mitchell Investment Counsel Inc. | $10,126,012 | 1,545,956 | 1.34% | Shares |
| Quantinno Capital Management LP | $9,584,297 | 1,463,251 | 1.27% | Shares |
| Tejara Capital Ltd | $8,467,323 | 1,292,721 | 1.12% | Shares |
| GOLDMAN SACHS GROUP INC | $8,149,975 | 1,244,271 | 1.08% | Shares |
| TWO SIGMA INVESTMENTS, LP | $7,235,163 | 1,104,605 | 0.96% | Shares |
| Gotham Asset Management, LLC | $6,859,763 | 1,047,292 | 0.91% | Shares |
| ArrowMark Colorado Holdings LLC | $6,560,428 | 1,001,592 | 0.87% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $6,405,304 | 977,909 | 0.85% | Shares |
| CITIGROUP INC | $6,384,888 | 974,792 | 0.85% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $5,059,390 | 772,426 | 0.67% | Shares |
| Rathbones Group PLC | $4,958,284 | 756,990 | 0.66% | Shares |
| RENAISSANCE TECHNOLOGIES LLC | $4,484,785 | 684,700 | 0.59% | Shares |
| BNP PARIBAS FINANCIAL MARKETS | $4,478,327 | 683,714 | 0.59% | Shares |
| TUDOR INVESTMENT CORP ET AL | $3,793,858 | 579,215 | 0.50% | Shares |
| NICHOLAS COMPANY, INC. | $3,716,863 | 567,460 | 0.49% | Shares |
| Public Sector Pension Investment Board | $3,174,850 | 484,710 | 0.42% | Shares |
| CITADEL ADVISORS LLC | $3,016,465 | 460,529 | 0.40% | Shares |
| CIBC Private Wealth Group LLC | $2,843,875 | 232,723 | 0.38% | Shares |
| Bank of New York Mellon Corp | $2,630,899 | 401,664 | 0.35% | Shares |
| Advantage Alpha Capital Partners LP | $2,563,328 | 209,765 | 0.34% | Shares |
| Point72 Asset Management, L.P. | $2,505,585 | 382,532 | 0.33% | Shares |
| RAYMOND JAMES FINANCIAL INC | $2,488,882 | 379,982 | 0.33% | Shares |
| Granite Investment Partners, LLC | $2,485,587 | 379,479 | 0.33% | Shares |
| VICTORY CAPITAL MANAGEMENT INC | $2,002,112 | 305,666 | 0.27% | Shares |
| D. E. Shaw & Co., Inc. | $1,772,987 | 270,685 | 0.24% | Shares |
| RHUMBLINE ADVISERS | $1,755,931 | 268,084 | 0.23% | Shares |
| NATIXIS | $1,644,050 | 251,000 | 0.22% | Shares |
| NANO CAP NEW MILLENNIUM GROWTH FUND L P | $1,637,500 | 250,000 | 0.22% | Shares |
| BANK OF AMERICA CORP /DE/ | $1,566,308 | 239,131 | 0.21% | Shares |
| BlackRock, Inc. | $1,564,395 | 238,839 | 0.21% | Shares |
| Swiss National Bank | $1,545,145 | 235,900 | 0.20% | Shares |
| Schonfeld Strategic Advisors LLC | $1,386,870 | 211,736 | 0.18% | Shares |
| Vanguard Global Advisers, LLC | $1,231,721 | 188,049 | 0.16% | Shares |
| Atom Investors LP | $1,161,191 | 177,281 | 0.15% | Shares |
| Legal & General Group Plc | $1,132,108 | 172,841 | 0.15% | Shares |
| Campbell & CO Investment Adviser LLC | $1,109,026 | 169,317 | 0.15% | Shares |
| Jump Financial, LLC | $1,016,560 | 155,200 | 0.13% | Shares |
| Universal- Beteiligungs- und Servicegesellschaft mbH | $1,005,209 | 153,467 | 0.13% | Shares |
| ALLIANCEBERNSTEIN L.P. | $1,002,630 | 175,900 | 0.13% | Shares |
| Summit Trail Advisors, LLC | $1,001,777 | 152,943 | 0.13% | Shares |
| PEAK6 LLC | $982,500 | 150,000 | 0.13% | Call option |
| Bastion Asset Management Inc. | $980,527 | 160,167 | 0.13% | Shares |
| ZB,N.A. | $937,115 | 87,992 | 0.12% | Shares |
| DARK FOREST CAPITAL MANAGEMENT LP | $828,536 | 126,494 | 0.11% | Shares |
| PRUDENTIAL FINANCIAL INC | $827,560 | 126,345 | 0.11% | Shares |
| BARCLAYS PLC | $807,707 | 123,314 | 0.11% | Shares |
| DEUTSCHE BANK AG\ | $803,220 | 122,629 | 0.11% | Shares |
| LAZARD ASSET MANAGEMENT LLC | $798,249 | 121,870 | 0.11% | Shares |
| Bellevue Group AG | $651,345 | 99,442 | 0.09% | Shares |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM | $648,278 | 113,733 | 0.09% | Shares |
| B. Metzler seel. Sohn & Co. AG | $637,341 | 97,304 | 0.08% | Shares |
| VANGUARD ASSET MANAGEMENT, Ltd | $617,547 | 94,282 | 0.08% | Shares |
| H D Vest Advisory Services | $559,424 | 47,814 | 0.07% | Shares |
| ANTIPODES PARTNERS Ltd | $548,084 | 83,677 | 0.07% | Shares |
| ExodusPoint Capital Management, LP | $542,563 | 82,834 | 0.07% | Shares |
| CAXTON ASSOCIATES LLP | $481,988 | 73,586 | 0.06% | Shares |
| XTX Topco Ltd | $465,116 | 71,010 | 0.06% | Shares |
| Illinois Municipal Retirement Fund | $460,236 | 70,265 | 0.06% | Shares |
| MetLife Investment Management, LLC | $455,048 | 69,473 | 0.06% | Shares |
| Brevan Howard Capital Management LP | $435,667 | 66,514 | 0.06% | Shares |
| Zurcher Kantonalbank (Zurich Cantonalbank) | $398,659 | 60,864 | 0.05% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $391,880 | 59,829 | 0.05% | Shares |
| ALLSTATE CORP | $373,291 | 56,991 | 0.05% | Shares |
| MERCER GLOBAL ADVISORS INC /ADV | $368,667 | 56,285 | 0.05% | Shares |
| WEALTH ENHANCEMENT ADVISORY SERVICES, LLC | $359,020 | 53,031 | 0.05% | Shares |
| Arrowpoint Investment Partners (Singapore) Pte. Ltd. | $355,835 | 54,326 | 0.05% | Shares |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. | $348,984 | 53,280 | 0.05% | Shares |
| Corient Private Wealth LP | $346,052 | 52,832 | 0.05% | Shares |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE | $337,764 | 51,567 | 0.04% | Shares |
| NEUBERGER BERMAN GROUP LLC | $336,375 | 51,355 | 0.04% | Shares |
| Louisiana State Employees Retirement System | $334,705 | 51,100 | 0.04% | Shares |
| TORONTO DOMINION BANK | $329,000 | 50,352 | 0.04% | Shares |
| JANUS HENDERSON GROUP PLC | $324,695 | 57,014 | 0.04% | Shares |
| Invesco Ltd. | $303,403 | 46,321 | 0.04% | Shares |
| Amundi | $292,039 | 44,586 | 0.04% | Shares |
| UBS Group AG | $283,307 | 43,253 | 0.04% | Shares |
| AlphaQuest LLC | $242,856 | 27,566 | 0.03% | Shares |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC | $240,517 | 42,196 | 0.03% | Shares |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM | $238,374 | 36,393 | 0.03% | Shares |
| NEW YORK STATE COMMON RETIREMENT FUND | $233,475 | 35,645 | 0.03% | Shares |
Company insiders 16 insiders · 8 officers · 6 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| William F Feehery | Chief Executive Officer | April 1, 2021 A | 3,313,051 | 0 | 0 | $0 |
| Michael Andrew Schemick | Chief Financial Officer | April 1, 2021 A | 896,843 | 0 | 0 | $0 |
| Justin Edge | Title: President, Regulatory and Access | April 1, 2021 A | 452,090 | 0 | 0 | $0 |
| Robert Aspbury | President, Simcyp | April 1, 2021 A | 391,798 | 0 | 0 | $0 |
| Craig R. Rayner | Title: President, Integrated Drug Development | April 1, 2021 A | 464,744 | 0 | 0 | $0 |
| Leif E Pedersen | President, Software | April 1, 2021 A | 279,928 | 0 | 0 | $0 |
| Richard M. Traynor | SVP and General Counsel | April 1, 2021 A | 358,287 | 0 | 0 | $0 |
| Judith Dickinson | Title: Chief Human Resources Officer and Senior Vice President, Human Resources | April 1, 2021 A | 173,564 | 0 | 0 | $0 |
| Cynthia Collins | Director | May 14, 2026 M | 51,846 | 0 | 0 | $0 |
| James E Cashman III | Director | May 14, 2026 A | 484,197 | 0 | 0 | $0 |
| Mason P Slaine | Director | Aug. 16, 2022 S | 910,322 | 0 | 0 | $0 |
| Sherilyn S Mccoy | Director | May 18, 2021 A | 621,143 | 0 | 0 | $0 |
| Stephen M. Mclean | Director | Dec. 15, 2020 P | 22,000 | 0 | 0 | $0 |
| Matthew M Walsh | — | May 14, 2026 A | 213,316 | 0 | 0 | $0 |
| Eran Broshy | — | May 14, 2026 A | 50,708 | 0 | 0 | $0 |
| Jieun W. Choe | — | April 1, 2021 A | 342,991 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
Activists & 5%+ owners 2 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 |
|---|---|---|---|---|---|
| Arsenal Capital Partners III LP, Arsenal Capital Partners III-B LP, Arsenal Saturn Holdings LP, Arsenal Capital Investment VI LP, Arsenal Capital Investment III LP, Terry M. Mullen | April 14, 2025 | 22.60% | Amendment | Passive investment | SEC |
| Arsenal Capital Partners III LP (2), Arsenal Capital Partners III-B LP (2), Arsenal Saturn Holdings LP (2), Arsenal Capital Investment VI LP (2), Arsenal Capital Investment III LP (2), Terry M. Mullen (2), Jeffrey B. Kovach (2) | Dec. 16, 2022 | — | 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 58 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 |
|---|---|---|---|---|
| FXH · First Trust Exchange-Traded AlphaDE… | 1.40% | 1,991,842 NS | April 30, 2026 | N-PORT |
| PSCH · Invesco Exchange-Traded Fund Trust … | 0.48% | 101,262 SH | Aug. 8, 2026 | Daily |
| CAFG · Pacer Funds Trust | 0.34% | 12,695 NS | April 30, 2026 | N-PORT |
| FYT · First Trust Exchange-Traded AlphaDE… | 0.25% | 76,197 NS | April 30, 2026 | N-PORT |
| VFVA · VANGUARD WELLINGTON FUND | 0.19% | 249,211 SH | Aug. 8, 2026 | Daily |
| SCOW · Pacer Funds Trust | 0.17% | 437 NS | April 30, 2026 | N-PORT |
| IHF · iShares Trust | 0.14% | 215,327 SH | Aug. 8, 2026 | Daily |
| AFSM · First Trust Exchange-Traded Fund VI… | 0.12% | 20,931 NS | May 31, 2026 | N-PORT |
| FYX · First Trust Exchange-Traded AlphaDE… | 0.12% | 242,943 NS | April 30, 2026 | N-PORT |
| QVMS · Invesco Exchange-Traded Fund Trust … | 0.07% | 21,423 SH | Aug. 8, 2026 | Daily |
| DFSV · Dimensional ETF Trust | 0.06% | 781,349 NS | April 30, 2026 | N-PORT |
| IWN · iShares Trust | 0.06% | 1,089,724 SH | Aug. 8, 2026 | Daily |
| NUSC · Nushares ETF Trust | 0.06% | 127,400 NS | April 30, 2026 | N-PORT |
| XJR · iShares Trust | 0.06% | 13,908 SH | Aug. 8, 2026 | Daily |
| PRFZ · Invesco Exchange-Traded Fund Trust | 0.06% | 209,159 SH | Aug. 8, 2026 | Daily |
| IJT · iShares Trust | 0.05% | 552,844 SH | Aug. 8, 2026 | Daily |
| FAB · First Trust Exchange-Traded AlphaDE… | 0.05% | 11,853 NS | April 30, 2026 | N-PORT |
| IJR · iShares Trust | 0.05% | 7,119,178 SH | Aug. 8, 2026 | Daily |
| VTWV · VANGUARD SCOTTSDALE FUNDS | 0.05% | 101,075 SH | Aug. 8, 2026 | Daily |
| IJS · iShares Trust | 0.05% | 509,711 SH | Aug. 8, 2026 | Daily |
| DFAT · Dimensional ETF Trust | 0.05% | 1,042,751 NS | April 30, 2026 | N-PORT |
| RWJ · Invesco Exchange-Traded Fund Trust … | 0.04% | 105,725 SH | Aug. 8, 2026 | Daily |
| VIOO · VANGUARD ADMIRAL FUNDS | 0.04% | 406,480 SH | Aug. 8, 2026 | Daily |
| VIOG · VANGUARD ADMIRAL FUNDS | 0.04% | 70,827 SH | Aug. 8, 2026 | Daily |
| VIOV · VANGUARD ADMIRAL FUNDS | 0.04% | 121,311 SH | Aug. 8, 2026 | Daily |
| BBSC · J.P. Morgan Exchange-Traded Fund Tr… | 0.04% | 46,289 NS | April 30, 2026 | N-PORT |
| PKW · Invesco Exchange-Traded Fund Trust | 0.03% | 68,870 SH | Aug. 8, 2026 | Daily |
| SAA · ProShares Trust | 0.03% | 1,428 NS | May 31, 2026 | N-PORT |
| IWM · iShares Trust | 0.03% | 2,952,989 SH | Aug. 8, 2026 | Daily |
| ISCV · iShares Trust | 0.03% | 22,726 SH | Aug. 8, 2026 | Daily |
| DXUV · Dimensional ETF Trust | 0.02% | 14,815 NS | April 30, 2026 | N-PORT |
| DFAS · Dimensional ETF Trust | 0.02% | 505,536 NS | April 30, 2026 | N-PORT |
| VBR · VANGUARD INDEX FUNDS | 0.02% | 1,702,376 SH | Aug. 8, 2026 | Daily |
| VTWO · VANGUARD SCOTTSDALE FUNDS | 0.02% | 668,521 SH | Aug. 8, 2026 | Daily |
| SCHA · SCHWAB STRATEGIC TRUST | 0.01% | 577,263 NS | May 31, 2026 | N-PORT |
| ISCB · iShares Trust | 0.01% | 4,588 SH | Aug. 8, 2026 | Daily |
| FHLC · FIDELITY COVINGTON TRUST | 0.01% | 55,826 NS | April 30, 2026 | N-PORT |
| VXF · VANGUARD INDEX FUNDS | 0.01% | 1,350,731 SH | Aug. 8, 2026 | Daily |
| VB · VANGUARD INDEX FUNDS | 0.01% | 2,668,434 SH | Aug. 8, 2026 | Daily |
| VHT · VANGUARD WORLD FUND | 0.01% | 347,519 SH | Aug. 8, 2026 | Daily |
| WSML · iShares Trust | 0.01% | 7,876 SH | Aug. 8, 2026 | Daily |
| DFAC · Dimensional ETF Trust | 0.01% | 376,269 NS | April 30, 2026 | N-PORT |
| DCOR · Dimensional ETF Trust | 0.01% | 24,361 NS | April 30, 2026 | N-PORT |
| AVSC · AMERICAN CENTURY ETF TRUST | 0.00% | 23,476 NS | May 31, 2026 | N-PORT |
| MSSM · MORGAN STANLEY PATHWAY FUNDS | 0.00% | 4,809 NS | May 31, 2026 | N-PORT |
| ONEQ · Fidelity Commonwealth Trust | 0.00% | 64,635 NS | May 31, 2026 | N-PORT |
| GVUS · Goldman Sachs ETF Trust | 0.00% | 1,272 NS | May 31, 2026 | N-PORT |
| ITOT · iShares Trust | 0.00% | 147,081 SH | Aug. 8, 2026 | Daily |
| IWV · iShares Trust | 0.00% | 29,038 SH | Aug. 8, 2026 | Daily |
| SCHB · SCHWAB STRATEGIC TRUST | 0.00% | 74,790 NS | May 31, 2026 | N-PORT |