CRON Cronos Group Inc. - Common Share
$3.28
Price · Aug 19, 2026
Fundamentals as of Aug 6, 2026
52W Range
$2–$3
87% of range
Analyst Rating
BUY
9 analysts
Price Target
$3
P/E (TTM)
-164.0
ROE
-0.88%
Net Profit Margin
-6.4%
About Cronos Group Inc. - Common Share Company overview from Wikipedia
CRON Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$3.28
Market Cap
$1.25B
P/E (TTM)
-164.0
EPS (TTM)
$-0.02
Revenue (TTM)
$147M
Div Yield
—
ROE
-0.88%
Debt/Equity
—
52W Range
$2 – $3
CRON 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
$147M
2020-12-31
→
2025-12-31
EPS
$-0.02
2020-12-31
→
2025-12-31
Free Cash Flow
$149.0K
2020-12-31
→
2025-12-31
Margins
-6.4%
2020-12-31
→
2025-12-31
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Metric
5Y trend
CRON
Peer Median
P/E (TTM)
-164.0
27.8
P/S (TTM)
8.5
1.3
P/B
1.1
0.6
Price / FCF
8400.2
—
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Metric
5Y trend
CRON
Peer Median
Gross Margin
42.8%
28.7%
Operating Margin
-11.9%
—
Net Profit Margin
-6.4%
-9.7%
ROA
-0.80%
-7.0%
ROE
-0.88%
-8.3%
ROIC
-0.27%
—
Financial Health Debt, liquidity, solvency — balance sheet strength
Metric
5Y trend
CRON
Peer Median
Current Ratio
19.6
5.0
Quick Ratio
18.0
—
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Metric
5Y trend
CRON
Peer Median
Revenue YoY
24.6%
—
Revenue CAGR 3Y
19.1%
—
Revenue CAGR 5Y
25.7%
—
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
Metric
5Y trend
CRON
Peer Median
CRON Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
BUY
9 analysts
- Strong Buy 2 22.2%
- Buy 6 66.7%
- Hold 1 11.1%
- Sell 0 0.0%
- Strong Sell 0 0.0%
12-Month Price Target
1 analysts · 2026-08-18
Low
$2.53
High
$2.53
Median target
$2.53
-22.9%
Mean target
$2.53
-22.9%
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 | $0.03 | $0.00 | 0.03% |
| March 31, 2026 | $0.04 | $0.00 | 0.04% |
| Dec. 31, 2025 | $-0.00 | $0.01 | -0.01% |
| Sept. 30, 2025 | $0.08 | $0.00 | 0.08% |
| June 30, 2025 | $-0.10 | $-0.02 | -0.08% |
| March 31, 2025 | $0.02 | $0.00 | 0.02% |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| CRON | $1.00B | -131.5 | 24.6% | -6.4% | -0.88% | 42.8% |
| TLRY | $726M | -5.1 | 11.5% | -13.3% | -7.8% | 28.4% |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement 17
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $147M | $118M | $87M | $87M | $65M | $47M | $24M | $12M | $3M | |
| Gross Profit | $63M | $25M | $12M | $15M | $-18M | $-26M | $-18M | $6M | $2M | |
| R&D Expense | $4M | $4M | $6M | $13M | $22M | $20M | $12M | $2M | $0 | |
| SG&A Expense | $42M | $47M | $49M | $68M | $91M | $81M | $81M | $13M | $5M | |
| Operating Expenses | $80M | $102M | $97M | $127M | $274M | $194M | $136M | $27M | $8M | |
| Operating Income | $-17M | $-77M | $-85M | $-111M | $-292M | $-219M | $-153M | $-20M | $-6M | |
| Interest Expense | · | · | · | $13.0K | $27.0K | $186.0K | $1M | $139.0K | $101.0K | |
| Interest Income | · | · | · | $23M | $9M | $19M | $29M | $220.0K | $4.0K | |
| Other Non-op | $-241.0K | $-301.0K | $1M | $-324.0K | $733.0K | $-2M | $0 | $0 | $4M | |
| Pretax Income | $-17M | $37M | $-74M | $-121M | $-129M | $-73M | $1.17B | $-21M | $-2M | |
| Income Tax | $-14M | $-3M | $-3M | $34M | $-431.0K | $1M | $0 | $0 | $-862.0K | |
| Net Income | $-9M | $41M | $-74M | $-169M | $-396M | $-73M | $1.17B | $-22M | $-1M | |
| EPS (Basic) | $-0.02 | $0.11 | $-0.19 | $-0.45 | $-1.07 | $-0.21 | $3.76 | $-0.12 | $-0.01 | |
| EPS (Diluted) | $-0.02 | $0.11 | $-0.19 | $-0.45 | $-1.07 | $-0.21 | $3.33 | $-0.12 | $-0.01 | |
| Shares (Basic) | 383,468,522 | 382,058,056 | 380,964,739 | 376,961,797 | 370,390,965 | 351,576,848 | 310,067,179 | 172,269,170 | 134,803,542 | |
| Shares (Diluted) | 383,468,522 | 385,557,002 | 380,964,739 | 376,961,797 | 370,390,965 | 351,576,848 | 342,811,992 | 172,269,170 | 176,789,161 | |
| EBITDA | $-3M | $-67M | $-77M | $-112M | $-545M | $-172M | $-118M | · | · |
Balance Sheet 27
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $792M | $859M | $669M | $765M | $887M | $1.08B | $1.20B | $24M | · | |
| Short-term Investments | $40M | $0 | $192M | $113M | $118M | $212M | $306M | $0 | · | |
| Receivables | $34M | $15M | $14M | $23M | $22M | $9M | $5M | $3M | · | |
| Inventory | $47M | $33M | $30M | $38M | $33M | $44M | $38M | $7M | · | |
| Prepaid Expense | $8M | $6M | $5M | $7M | $9M | $11M | $9M | $3M | · | |
| Current Assets | $944M | $936M | $933M | $960M | $1.08B | $1.37B | $1.57B | $40M | · | |
| PP&E (Net) | $146M | $133M | $59M | $61M | $74M | $188M | $160M | $126M | · | |
| PP&E (Gross) | $295M | · | $199M | · | $219M | $206M | · | · | · | |
| Accum. Depreciation | $43M | $30M | $31M | $35M | $30M | $18M | $9M | $2M | · | |
| Goodwill | $66M | $63M | $1M | $1M | $1M | $180M | $214M | $1M | $1M | |
| Intangibles | $9M | $11M | $21M | $27M | $18M | $70M | $71M | $8M | · | |
| Other Non-current Assets | · | · | $45.0K | $193.0K | $100.0K | $467.0K | · | · | · | |
| Total Assets | $1.20B | $1.17B | $1.14B | $1.21B | $1.40B | $1.93B | $2.09B | $183M | · | |
| Accounts Payable | $12M | $17M | $12M | $11M | $11M | $19M | $9M | $1M | · | |
| Accrued Liabilities | $36M | $32M | $28M | $22M | $26M | $23M | · | · | · | |
| Current Liabilities | $48M | $50M | $41M | $68M | $54M | $207M | $333M | $33M | · | |
| Capital Leases | $1M | $993.0K | $2M | $3M | $7M | $8M | $7M | $87.0K | · | |
| Deferred Tax | $4M | $4M | $181.0K | $0 | $81.0K | $0 | · | · | · | |
| Other Non-current Liabilities | $733.0K | $1M | $1M | $1M | · | · | · | · | · | |
| Total Liabilities | $54M | $55M | $44M | $72M | $63M | $218M | $341M | $35M | · | |
| Common Stock | $663M | $670M | $662M | $611M | $595M | $569M | $561M | $175M | · | |
| Paid-in Capital | · | · | $48M | $43M | $32M | $35M | $23M | $11M | · | |
| Retained Earnings | $448M | $458M | $417M | $491M | $659M | $1.06B | $1.14B | $-28M | · | |
| AOCI | $-17M | $-64M | $21M | $-797.0K | $50M | $43M | $28M | $-10M | · | |
| Stockholders' Equity | $1.09B | $1.06B | $1.10B | $1.14B | $1.34B | $1.71B | $1.75B | $148M | · | |
| Liabilities + Equity | $1.20B | $1.17B | $1.14B | $1.21B | $1.40B | $1.93B | $2.09B | $183M | · | |
| Shares Outstanding | 381,592,969 | 382,530,780 | 381,298,853 | 380,575,403 | 374,952,693 | 360,253,332 | 348,817,472 | 178,720,022 | 149,360,603 |
Cash Flow 16
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $14M | $9M | $8M | $13M | $15M | $7M | $4M | $2M | $768.0K | |
| Stock-based Comp | $7M | $9M | $9M | $15M | $10M | $15M | $12M | $8M | $2M | |
| Deferred Tax | $1M | $-266.0K | $145.0K | $-241.0K | $40.0K | $0 | $0 | $0 | $0 | |
| Amort. of Intangibles | · | · | $4M | $3M | $2M | $814.0K | $646.0K | $546.0K | $0 | |
| Restructuring | $2M | $630.0K | $2M | $4M | $0 | $0 | $5M | · | · | |
| Other Non-cash | $13M | $-40M | $14M | $52M | $217M | $-126M | $-1.37B | · | · | |
| Operating Cash Flow | $26M | $19M | $-43M | $-89M | $-154M | $-145M | $-131M | $-8M | $-4M | |
| CapEx | $26M | $12M | $3M | $3M | $11M | $31M | $39M | $88M | $33M | |
| Investing Cash Flow | $-77M | $175M | $-59M | $-2M | $-29M | $20M | $-603M | $-94M | $-30M | |
| Stock Repurchased | $10M | $0 | $0 | · | · | · | · | · | · | |
| Net Stock Activity | $-10M | · | · | · | · | · | · | · | · | |
| Financing Cash Flow | $-20M | $-1M | $-1M | $-3M | $-13M | $-3M | $1.86B | $122M | $39M | |
| Net Change in Cash | $-67M | $190M | $-95M | $-122M | $-191M | $-122M | $1.18B | $17M | $5M | |
| Taxes Paid | $-6M | $647.0K | $33M | $177.0K | $892.0K | · | · | · | · | |
| Free Cash Flow | $149.0K | $6M | $-45M | $-92M | $-165M | $-174M | $-169M | · | · | |
| Levered FCF | · | · | · | $-92M | $-165M | $-174M | $-170M | · | · |
Profitability 8
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 42.8% | 21.4% | 13.7% | 13.0% | -23.6% | -55.3% | -75.2% | · | · | |
| Operating Margin | -11.9% | -65.1% | -97.2% | -135.8% | -753.1% | -383.9% | -511.5% | · | · | |
| Net Margin | -6.4% | 34.9% | -84.8% | -183.6% | -532.2% | -156.5% | 4911.6% | · | · | |
| Pretax Margin | -11.7% | 31.1% | -84.4% | -146.4% | -533.5% | -156.8% | 4907.7% | · | · | |
| EBITDA Margin | -2.2% | -57.1% | -87.9% | -121.6% | -732.4% | -368.8% | -495.0% | · | · | |
| ROA | -0.80% | 3.6% | -6.3% | -13.1% | -27.0% | -3.8% | 102.6% | · | · | |
| ROE | -0.88% | 3.8% | -6.6% | -13.6% | -26.0% | -4.2% | 122.9% | · | · | |
| ROIC | -0.27% | -7.9% | -7.4% | -13.7% | -41.9% | -10.7% | -6.9% | · | · |
Liquidity & Solvency 3
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 19.6 | 18.8 | 22.5 | 14.1 | 19.9 | 6.6 | 4.7 | · | · | |
| Quick Ratio | 18.0 | 17.6 | 21.1 | 13.2 | 18.9 | 6.3 | 4.5 | · | · | |
| Interest Coverage | · | · | · | -9602.9 | -20762.7 | -964.2 | -97.7 | · | · |
Efficiency 2
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.0 | 0.0 | · | · | |
| Receivables Turnover | 5.9 | 8.0 | 4.7 | 4.1 | 4.8 | 6.9 | 6.2 | · | · |
Growth Rates 3
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue YoY | 24.6% | 34.8% | 0.57% | 34.4% | 38.2% | · | · | · | · | |
| Revenue CAGR 3Y | 19.1% | 22.1% | 23.1% | · | · | · | · | · | · | |
| Revenue CAGR 5Y | 25.7% | · | · | · | · | · | · | · | · |
Valuation (TTM) 10
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $147M | $118M | $87M | $87M | $65M | $47M | $24M | · | · | |
| Net Income TTM | $-9M | $41M | $-74M | $-169M | $-396M | $-73M | $1.17B | · | · | |
| Market Cap | $1.00B | $773M | $797M | $967M | $1.47B | $2.50B | $2.68B | · | · | |
| P/E | -131.5 | 18.4 | -11.0 | -5.6 | -3.7 | -33.0 | 2.3 | · | · | |
| P/S | 6.8 | 6.6 | 9.1 | 11.1 | 22.8 | 53.5 | 112.6 | · | · | |
| P/B | 0.9 | 0.7 | 0.7 | 0.8 | 1.1 | 1.5 | 1.5 | · | · | |
| P / Tangible Book | 1.0 | 0.8 | 0.7 | 0.9 | 1.1 | 1.7 | · | · | · | |
| P / Cash Flow | 38.8 | 41.0 | -18.6 | -10.9 | -9.6 | -17.6 | -20.6 | · | · | |
| P / FCF | 6735.5 | 120.1 | -17.6 | -10.5 | -8.9 | -14.4 | -15.9 | · | · | |
| Earnings Yield | -0.76% | 5.5% | -9.1% | -17.7% | -27.3% | -3.0% | 43.4% | · | · |
Income Statement 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $53M | $45M | $45M | $36M | $33M | $32M | $30M | $34M | $28M | $25M | $24M | $25M | $19M | $19M | $20M | $20M | |
| Gross Profit | $28M | $19M | $16M | $18M | $15M | $14M | $11M | $4M | $6M | $4M | $2M | $4M | $3M | $3M | $1M | $3M | |
| R&D Expense | $1M | $1M | $1M | $1M | $929.0K | $793.0K | $1M | $1M | $962.0K | $997.0K | $1M | $1M | $1M | $2M | $2M | $3M | |
| SG&A Expense | $11M | $12M | $13M | $9M | $11M | $9M | $12M | $13M | $13M | $9M | $10M | $14M | $13M | $12M | $13M | $16M | |
| Operating Expenses | $21M | $21M | $24M | $19M | $20M | $18M | $22M | $37M | $22M | $20M | $24M | $26M | $24M | $24M | $24M | $30M | |
| Operating Income | $7M | $-2M | $-7M | $-503.0K | $-5M | $-4M | $-11M | $-34M | $-16M | $-16M | $-22M | $-22M | $-21M | $-21M | $-23M | $-27M | |
| Other Non-op | $-2.0K | $10.0K | $0 | $-283.0K | $-1.0K | $43.0K | $436.0K | $-315.0K | $248.0K | $-670.0K | $-47.0K | $974.0K | $17.0K | $85.0K | $73.0K | $-581.0K | |
| Pretax Income | $36M | $18M | $-12M | $27M | $-39M | $7M | $46M | $5M | $-11M | $-3M | $-46M | $-3M | $-6M | $-19M | $-40M | $-31M | |
| Income Tax | $51.0K | $2M | $-12M | $-1M | $-525.0K | $-455.0K | $2M | $-3M | $-2M | $-558.0K | $-360.0K | $-1M | $-180.0K | $-1M | $32M | $2M | |
| Net Income | $32M | $14M | $-2M | $26M | $-40M | $6M | $44M | $8M | $-9M | $-2M | $-45M | $-2M | $-8M | $-19M | $-79M | $-37M | |
| EPS (Basic) | $0.09 | $0.04 | $-0.01 | $0.07 | $-0.10 | $0.02 | $0.12 | $0.02 | $-0.02 | $-0.01 | $-0.12 | $0.00 | $-0.02 | $-0.05 | $-0.21 | $-0.10 | |
| EPS (Diluted) | $0.09 | $0.04 | $-0.01 | $0.07 | $-0.10 | $0.02 | $0.12 | $0.02 | $-0.02 | $-0.01 | $-0.12 | $0.00 | $-0.02 | $-0.05 | $-0.21 | $-0.10 | |
| Shares (Basic) | 373,609,102 | 379,374,109 | -767,883,227 | 383,086,739 | 385,306,213 | 382,958,797 | -763,827,685 | 382,285,589 | 382,157,555 | 381,442,597 | -761,731,156 | 381,100,005 | 380,961,682 | 380,634,208 | -752,206,947 | 378,114,160 | |
| Shares (Diluted) | 375,061,482 | 381,799,288 | -773,794,089 | 384,992,713 | 385,306,213 | 386,963,685 | -764,027,557 | 385,984,407 | 382,157,555 | 381,442,597 | -761,731,156 | 381,100,005 | 380,961,682 | 380,634,208 | -752,206,947 | 378,114,160 | |
| EBITDA | · | $2M | · | $-503.0K | $-5M | $-1M | · | $-34M | $-16M | $-14M | · | $-22M | $-21M | $-20M | · | $-28M |
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 | $467M | $822M | $792M | $784M | $794M | $798M | $859M | $862M | $848M | $855M | · | $572M | $409M | $414M | · | $633M | |
| Short-term Investments | $330M | $0 | $40M | $40M | $40M | $40M | $0 | $0 | $0 | $0 | · | $268M | $432M | $423M | · | $255M | |
| Receivables | $37M | $33M | $34M | $27M | $27M | $19M | $15M | $20M | $16M | $15M | · | $16M | $13M | $15M | · | $19M | |
| Inventory | $53M | $49M | $47M | $48M | $42M | $35M | $33M | $47M | $29M | $31M | · | $36M | $45M | $44M | · | $34M | |
| Prepaid Expense | $5M | $5M | $8M | $9M | $5M | $6M | $6M | $7M | $5M | $6M | · | $6M | $7M | $8M | · | $9M | |
| Current Assets | $912M | $928M | $944M | $922M | $927M | $919M | $936M | $959M | $935M | $942M | · | $918M | $925M | $916M | · | $963M | |
| PP&E (Net) | $142M | $142M | $146M | $146M | $150M | $139M | $133M | $163M | $37M | $37M | · | $56M | $58M | $60M | · | $61M | |
| PP&E (Gross) | $295M | $294M | · | · | · | · | · | $299M | · | · | · | · | · | · | · | · | |
| Accum. Depreciation | $49M | $45M | $43M | $38M | $36M | $30M | $30M | $28M | · | · | · | · | · | · | · | · | |
| Goodwill | $64M | $65M | $66M | $65M | $67M | $63M | $63M | $38M | $1M | $1M | · | $1M | $1M | $1M | · | $1M | |
| Intangibles | $8M | $9M | $9M | $10M | $11M | $11M | $11M | $4M | $19M | $20M | · | $24M | $25M | $26M | · | $21M | |
| Other Non-current Assets | · | · | · | · | · | · | · | $130.0K | $41.0K | $58.0K | · | · | · | $1M | · | $168.0K | |
| Total Assets | $1.18B | $1.17B | $1.20B | $1.18B | $1.18B | $1.15B | $1.17B | $1.18B | $1.09B | $1.11B | · | $1.15B | $1.17B | $1.16B | · | $1.24B | |
| Accounts Payable | $17M | $10M | $12M | $11M | $12M | $9M | $17M | $7M | $8M | $9M | · | $5M | $9M | $13M | · | $10M | |
| Accrued Liabilities | $35M | $31M | $36M | $30M | $25M | $23M | $32M | $32M | $24M | $23M | · | $24M | $17M | $14M | · | $26M | |
| Current Liabilities | $56M | $42M | $48M | $41M | $38M | $33M | $50M | $40M | $33M | $33M | · | $31M | $28M | $29M | · | $38M | |
| Capital Leases | $1M | $1M | $1M | $1M | $1M | $840.0K | $993.0K | $872.0K | $1M | $1M | · | $2M | $2M | $2M | · | $5M | |
| Deferred Tax | $5M | $4M | $4M | $3M | $6M | $5M | $4M | $11M | · | · | · | · | $675.0K | $378.0K | · | $2M | |
| Other Non-current Liabilities | $0 | $749.0K | $733.0K | $698.0K | $680.0K | $611.0K | $1M | $1M | $1M | $1M | · | $1M | $1M | · | · | · | |
| Total Liabilities | $62M | $48M | $54M | $46M | $45M | $39M | $55M | $53M | $35M | $36M | · | $33M | $32M | $33M | · | $46M | |
| Common Stock | $632M | $647M | $663M | $666M | $667M | $669M | $670M | $616M | $616M | $616M | · | $613M | $613M | $612M | · | $605M | |
| Paid-in Capital | · | · | · | · | · | · | · | $52M | $49M | $48M | · | $47M | $45M | $44M | · | $38M | |
| Retained Earnings | $492M | $461M | $448M | $450M | $424M | $464M | $458M | $414M | $406M | $414M | · | $462M | $463M | $472M | · | $570M | |
| AOCI | $-56M | $-34M | $-17M | $-34M | $-8M | $-66M | $-64M | $-361.0K | $-12M | $-2M | · | $-2M | $18M | $2M | · | $-19M | |
| Stockholders' Equity | $1.07B | $1.07B | $1.09B | $1.08B | $1.08B | $1.07B | $1.06B | $1.08B | $1.06B | $1.08B | · | $1.12B | $1.14B | $1.13B | · | $1.19B | |
| Liabilities + Equity | $1.18B | $1.17B | $1.20B | $1.18B | $1.18B | $1.15B | $1.17B | $1.18B | $1.09B | $1.11B | · | $1.15B | $1.17B | $1.16B | · | $1.24B | |
| Shares Outstanding | 370,726,047 | 376,258,707 | 381,592,969 | 382,893,267 | 383,806,912 | 385,406,395 | 382,530,780 | 382,294,707 | 382,280,725 | 382,011,178 | · | 381,113,564 | 381,089,357 | 380,815,921 | · | 378,346,260 |
Cash Flow 14
| 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 | $3M | $4M | $4M | $4M | $4M | $3M | $3M | $4M | $2M | $2M | $1M | $2M | $2M | $2M | $3M | $3M | |
| Stock-based Comp | $2M | $1M | $1M | $2M | $1M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $3M | $5M | $4M | |
| Amort. of Intangibles | · | · | · | · | · | · | · | · | · | · | · | · | · | · | · | $893.0K | |
| Restructuring | $308.0K | $484.0K | $502.0K | $212.0K | $768.0K | $555.0K | $0 | $0 | $547.0K | $83.0K | $101.0K | $1M | $0 | $0 | · | · | |
| Other Non-cash | · | $-8M | · | · | · | $-13M | · | · | · | $-4M | · | · | · | $-33M | · | · | |
| Operating Cash Flow | $24M | $11M | $12M | $13M | $3M | $-2M | $8M | $12M | $2M | $-2M | $17M | $-183.0K | $-12M | $-48M | $-24M | $-13M | |
| CapEx | $2M | $2M | $2M | $4M | $4M | $15M | $4M | $6M | $729.0K | $2M | $1M | $-11.0K | $494.0K | $804.0K | $364.0K | $869.0K | |
| Investing Cash Flow | $-358M | $38M | $3M | $-23M | $-983.0K | $-55M | $-5M | $-818.0K | $-9M | $190M | $82M | $158M | $5M | $-304M | $158M | $-120M | |
| Stock Repurchased | $16M | $17M | $4M | $2M | $4M | $0 | $0 | $0 | · | · | · | · | · | · | · | · | |
| Net Stock Activity | · | $-17M | · | · | · | · | · | · | · | · | · | · | · | · | · | · | |
| Financing Cash Flow | $-21M | $-18M | $-7M | $-2M | $-8M | $-3M | $-313.0K | $-13.0K | $-260.0K | $-645.0K | $-218.0K | $-30.0K | $-39.0K | $-743.0K | $-620.0K | $-243.0K | |
| Net Change in Cash | $-355M | $30M | $8M | $-10M | $-3M | $-61M | $-3M | $14M | $-7M | $186M | $98M | $162M | $-4M | $-351M | $131M | $-156M | |
| Taxes Paid | $6.0K | $8.0K | $-6M | $9.0K | $9.0K | $50.0K | · | $7.0K | $35.0K | $579.0K | · | $18.0K | $63.0K | $33M | $19.0K | $18.0K | |
| Free Cash Flow | · | $9M | · | · | · | $-17M | · | · | · | $-4M | · | · | · | $-48M | · | · |
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 | · | 42.4% | · | 50.4% | 43.4% | 42.6% | · | 10.5% | 22.7% | 17.7% | · | 16.0% | 16.3% | 11.8% | · | 5.5% | |
| Operating Margin | · | -4.0% | · | -1.4% | -15.9% | -12.6% | · | -98.2% | -56.0% | -63.1% | · | -87.8% | -108.4% | -109.2% | · | -148.2% | |
| Net Margin | · | 30.4% | · | 71.4% | -118.7% | 19.0% | · | 24.4% | -31.5% | -8.9% | · | -6.6% | -44.0% | -95.2% | · | -176.8% | |
| Pretax Margin | · | 40.1% | · | 74.3% | -116.6% | 22.5% | · | 13.5% | -39.4% | -12.0% | · | -11.5% | -30.7% | -102.7% | · | -166.2% | |
| EBITDA Margin | · | 4.2% | · | -1.4% | -15.9% | -3.8% | · | -98.2% | -56.0% | -56.2% | · | -87.8% | -108.4% | -97.2% | · | -131.7% | |
| ROA | · | 1.2% | · | 2.2% | -3.5% | 0.54% | · | 0.72% | -0.78% | -0.20% | · | -0.14% | -0.67% | -1.5% | · | -2.7% | |
| ROE | · | 1.3% | · | 2.4% | -3.7% | 0.57% | · | 0.76% | -0.80% | -0.20% | · | -0.14% | -0.69% | -1.6% | · | -2.8% | |
| ROIC | · | -0.15% | · | -0.05% | -0.49% | -0.41% | · | -4.9% | -1.2% | -1.2% | · | -1.1% | -1.8% | -1.8% | · | -2.8% |
Liquidity & Solvency 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | · | 21.9 | · | 22.5 | 24.7 | 27.8 | · | 24.2 | 28.3 | 28.2 | · | 30.0 | 33.1 | 31.4 | · | 25.4 | |
| Quick Ratio | · | 20.2 | · | 20.7 | 22.9 | 25.9 | · | 22.3 | 26.1 | 26.0 | · | 28.0 | 30.6 | 29.2 | · | 23.9 |
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 | · | 0.0 | · | 0.0 | 0.0 | 0.0 | · | 0.0 | 0.0 | 0.0 | · | 0.0 | 0.0 | 0.0 | · | 0.0 | |
| Receivables Turnover | · | 1.7 | · | 1.5 | 1.6 | 1.9 | · | 1.9 | 1.9 | 1.7 | · | 1.4 | 1.2 | 1.0 | · | 1.2 |
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 | $147M | $147M | · | $136M | $128M | $120M | · | $112M | $97M | $89M | · | $84M | $81M | $87M | · | $87M | |
| Net Income TTM | $6M | $6M | · | $718.0K | $-34M | $3M | · | $-4M | $-21M | $-31M | · | $-66M | $-85M | $-109M | · | $-12M | |
| Market Cap | · | $944M | · | $1.06B | $733M | $698M | · | $837M | $891M | $997M | · | $762M | $751M | $739M | · | $1.07B | |
| P/E | 92.7 | 83.7 | · | 278.0 | -23.9 | 181.0 | · | -219.0 | -46.6 | -32.6 | · | -11.8 | -9.0 | · | · | · | |
| P/S | · | 6.4 | · | 7.8 | 5.7 | 5.8 | · | 7.5 | 9.2 | 11.3 | · | 9.1 | 9.3 | 8.5 | · | 12.2 | |
| P/B | · | 0.9 | · | 1.0 | 0.7 | 0.7 | · | 0.8 | 0.8 | 0.9 | · | 0.7 | 0.7 | 0.7 | · | 0.9 | |
| P / Tangible Book | 1.0 | 0.9 | · | 1.1 | 0.7 | 0.7 | · | 0.8 | 0.9 | 0.9 | · | 0.7 | 0.7 | 0.7 | · | 0.9 | |
| P / Cash Flow | · | 86.7 | · | · | · | -332.8 | · | · | · | -452.4 | · | · | · | -15.5 | · | · | |
| P / FCF | · | 104.7 | · | · | · | -40.2 | · | · | · | -253.8 | · | · | · | -15.2 | · | · | |
| Earnings Yield | 1.1% | 1.2% | · | 0.36% | -4.2% | 0.55% | · | -0.46% | -2.1% | -3.1% | · | -8.5% | -11.2% | · | · | · |
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 | 2022-03-31 | |
|---|---|---|---|---|---|
| Revenue | $147M | $118M | $87M | $87M | — |
| Gross Margin % | 42.8% | 21.4% | 13.7% | 13.0% | — |
| Operating Margin % | -11.9% | -65.1% | -97.2% | -135.8% | — |
| Net Income | $-9M | $41M | $-74M | $-169M | — |
| Diluted EPS | $-0.02 | $0.11 | $-0.19 | $-0.45 | — |
Balance Sheet
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2022-03-31 | |
|---|---|---|---|---|---|
| Current Ratio | 19.6 | 18.8 | 22.5 | 14.1 | — |
| Quick Ratio | 18.0 | 17.6 | 21.1 | 13.2 | — |
Cash Flow
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2022-03-31 | |
|---|---|---|---|---|---|
| Free Cash Flow | $149.0K | $6M | $-45M | $-92M | — |
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Institutional owners (13F) 218 filers · $106.3M 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 |
|---|---|---|---|---|
| 25 (+2 vs prior Q) | 20 (-5 vs prior Q) | 36 (-1 vs prior Q) | 50 (-7 vs prior Q) | -8.9M |
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.
| Institution | Value | Shares | % of tracked 13F | Type |
|---|---|---|---|---|
| Chescapmanager LLC | $22,080,809 | 7,942,737 | 20.78% | Shares |
| Toroso Investments, LLC | $10,896,101 | 4,143,004 | 10.25% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $8,474,146 | 3,048,254 | 7.97% | Shares |
| MACKENZIE FINANCIAL CORP | $6,260,393 | 1,597,039 | 5.89% | Shares |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | $5,527,496 | 1,992,855 | 5.20% | Shares |
| RENAISSANCE TECHNOLOGIES LLC | $4,843,174 | 1,742,149 | 4.56% | Shares |
| CIBC WORLD MARKET INC. | $3,820,030 | 1,383,299 | 3.59% | Shares |
| MMCAP International Inc. SPC | $2,778,582 | 999,490 | 2.61% | Shares |
| D. E. Shaw & Co., Inc. | $2,705,035 | 973,749 | 2.55% | Shares |
| Quinn Opportunity Partners LLC | $2,693,912 | 969,033 | 2.53% | Shares |
| PRELUDE CAPITAL MANAGEMENT, LLC | $2,252,253 | 810,163 | 2.12% | Shares |
| Pillsbury Lake Capital LLC | $2,252,253 | 810,163 | 2.12% | Shares |
| SILVER OAK SECURITIES, INCORPORATED | $1,823,602 | 655,972 | 1.72% | Shares |
| Qube Research & Technologies Ltd | $1,783,870 | 641,680 | 1.68% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $1,778,644 | 639,800 | 1.67% | Call option |
| GEODE CAPITAL MANAGEMENT, LLC | $1,526,373 | 549,055 | 1.44% | Shares |
| GOLDMAN SACHS GROUP INC | $1,468,496 | 528,236 | 1.38% | Shares |
| AdvisorShares Investments LLC | $1,341,055 | 482,394 | 1.26% | Shares |
| CDC Financial, Inc. | $1,204,110 | 433,133 | 1.13% | Shares |
| Ewing Morris & Co. Investment Partners Ltd. | $1,077,568 | 390,000 | 1.01% | Shares |
| Swiss National Bank | $1,053,307 | 382,200 | 0.99% | Shares |
| JANE STREET GROUP, LLC | $1,028,436 | 369,941 | 0.97% | Shares |
| TWO SIGMA INVESTMENTS, LP | $864,572 | 310,997 | 0.81% | Shares |
| Parallax Volatility Advisers, L.P. | $834,000 | 300,000 | 0.78% | Shares |
| Caption Management, LLC | $797,713 | 286,947 | 0.75% | Shares |
| CITIGROUP INC | $688,199 | 249,077 | 0.65% | Shares |
| CITADEL ADVISORS LLC | $631,060 | 227,000 | 0.59% | Call option |
| SIMPLEX TRADING, LLC | $621,963 | 223,728 | 0.59% | Shares |
| Corient Private Wealth LP | $594,865 | 213,980 | 0.56% | Shares |
| Baader Bank Aktiengesellschaft | $552,229 | 200,000 | 0.52% | Shares |
| Formidable Asset Management, LLC | $510,597 | 203,425 | 0.48% | Shares |
| JANE STREET GROUP, LLC | $508,184 | 182,800 | 0.48% | Call option |
| GROUP ONE TRADING LLC | $495,816 | 178,351 | 0.47% | Shares |
| Kerrisdale Advisers, LLC | $477,843 | 171,886 | 0.45% | Shares |
| Nuveen Asset Management, LLC | $380,635 | 189,422 | 0.36% | Shares |
| Nuveen, LLC | $380,570 | 137,738 | 0.36% | Shares |
| VANGUARD ASSET MANAGEMENT, Ltd | $375,778 | 135,956 | 0.35% | Shares |
| SIG North Trading, ULC | $360,477 | 129,668 | 0.34% | Shares |
| Headlands Technologies LLC | $354,072 | 127,364 | 0.33% | Shares |
| WOLVERINE TRADING, LLC | $304,722 | 102,600 | 0.29% | Call option |
| Sunbelt Securities, Inc. | $281,045 | 111,970 | 0.26% | Shares |
| Main Street Financial Solutions, LLC | $279,307 | 100,470 | 0.26% | Shares |
| CITADEL ADVISORS LLC | $278,834 | 100,300 | 0.26% | Put option |
| Quad-Cities Investment Group, LLC | $278,000 | 100,000 | 0.26% | Shares |
| MILLENNIUM MANAGEMENT LLC | $266,684 | 96,262 | 0.25% | Shares |
| Quadrature Capital Ltd | $261,281 | 93,986 | 0.25% | Shares |
| WINTON GROUP Ltd | $257,489 | 92,622 | 0.24% | Shares |
| Zurcher Kantonalbank (Zurich Cantonalbank) | $240,720 | 87,123 | 0.23% | Shares |
| PEAK6 LLC | $226,848 | 81,600 | 0.21% | Call option |
| LPL Financial LLC | $223,559 | 80,417 | 0.21% | Shares |
| ALLIANCEBERNSTEIN L.P. | $208,408 | 83,031 | 0.20% | Shares |
| Tower Research Capital LLC (TRC) | $204,861 | 73,691 | 0.19% | Shares |
| Aquatic Capital Management LLC | $203,115 | 73,063 | 0.19% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $171,490 | 61,687 | 0.16% | Shares |
| Vanguard Investments Australia, Ltd. | $169,174 | 61,207 | 0.16% | Shares |
| Byrne Asset Management LLC | $167,634 | 60,300 | 0.16% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $156,514 | 56,300 | 0.15% | Put option |
| PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO | $155,123 | 56,145 | 0.15% | Shares |
| BANK OF AMERICA CORP /DE/ | $145,950 | 52,500 | 0.14% | Shares |
| Madrona Financial Services, LLC | $139,000 | 50,000 | 0.13% | Shares |
| SIG North Trading, ULC | $136,220 | 49,000 | 0.13% | Put option |
| Shay Capital LLC | $131,210 | 47,198 | 0.12% | Shares |
| Squarepoint Ops LLC | $118,598 | 42,661 | 0.11% | Shares |
| COMMONWEALTH EQUITY SERVICES, LLC | $110,407 | 39,716 | 0.10% | Shares |
| Kazazian Asset Management, LLC | $109,015 | 39,214 | 0.10% | Shares |
| Marathon Trading Investment Management LLC | $106,196 | 38,200 | 0.10% | Shares |
| Cedar Wealth Management, LLC | $105,459 | 37,935 | 0.10% | Shares |
| TWO SIGMA ADVISERS, LP | $102,833 | 39,100 | 0.10% | Shares |
| VANGUARD GROUP INC | $101,164 | 38,570 | 0.10% | Shares |
| CIBC Asset Management Inc | $87,039 | 31,553 | 0.08% | Shares |
| OSAIC HOLDINGS, INC. | $85,908 | 30,906 | 0.08% | Shares |
| Cerity Partners LLC | $84,993 | 30,573 | 0.08% | Shares |
| J. Safra Sarasin Holding AG | $83,162 | 29,912 | 0.08% | Shares |
| Mraz, Amerine & Associates, Inc. | $82,914 | 29,825 | 0.08% | Shares |
| Private Advisor Group, LLC | $82,559 | 29,697 | 0.08% | Shares |
| JANE STREET GROUP, LLC | $81,454 | 29,300 | 0.08% | Put option |
| Kestra Advisory Services, LLC | $81,357 | 29,265 | 0.08% | Shares |
| Spark Investment Management LLC | $77,315 | 28,000 | 0.07% | Shares |
| Pictet Asset Management Holding SA | $74,805 | 27,074 | 0.07% | Shares |
| Caption Management, LLC | $69,500 | 25,000 | 0.07% | Call option |
| Empirical Asset Management, LLC | $69,500 | 25,000 | 0.07% | Shares |
| Amundi | $68,744 | 24,728 | 0.06% | Shares |
| JONES FINANCIAL COMPANIES LLLP | $68,426 | 24,351 | 0.06% | Shares |
| WOLVERINE TRADING, LLC | $65,043 | 21,900 | 0.06% | Put option |
| Chicago Partners Investment Group LLC | $64,119 | 23,401 | 0.06% | Shares |
| Oasis Management Co Ltd. | $63,401 | 22,806 | 0.06% | Shares |
| OXFORD ASSET MANAGEMENT LLP | $62,525 | 22,491 | 0.06% | Shares |
| Apollon Wealth Management, LLC | $60,404 | 21,728 | 0.06% | Shares |
| Cetera Investment Advisers | $53,726 | 19,326 | 0.05% | Shares |
| SFMG, LLC | $48,989 | 17,622 | 0.05% | Shares |
| RAYMOND JAMES FINANCIAL INC | $47,658 | 17,143 | 0.04% | Shares |
| INTERNATIONAL ASSETS INVESTMENT MANAGEMENT, LLC | $46,618 | 16,300 | 0.04% | Shares |
| ROYAL BANK OF CANADA | $45,000 | 16,119 | 0.04% | Shares |
| Sageworth Trust Co | $41,700 | 15,000 | 0.04% | Shares |
| Caprock Group, LLC | $41,700 | 15,000 | 0.04% | Shares |
| TUDOR INVESTMENT CORP ET AL | $39,737 | 14,294 | 0.04% | Shares |
| Swiss Life Asset Management Ltd | $39,074 | 14,177 | 0.04% | Shares |
| SBI Securities Co., Ltd. | $36,387 | 13,089 | 0.03% | Shares |
| Vontobel Holding Ltd. | $35,896 | 13,000 | 0.03% | Shares |
| TD Waterhouse Canada Inc. | $35,090 | 12,252 | 0.03% | Shares |
Company insiders 3 insiders · 0 officers · 0 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| James Daniel Rudyk | — | Aug. 6, 2026 A | — | 0 | 0 | $0 |
| Jason Marc Adler | — | Aug. 6, 2026 A | — | 0 | 0 | $0 |
| Murray R Garnick | — | Aug. 6, 2026 A | — | 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 |
|---|---|---|---|---|---|
| Altria Group, Inc., Altria Summit LLC, Maple Holdco (Bermuda) Ltd., Maple Acquireco (Canada) ULC ×3 filings | April 25, 2024 | — | Initial filing | — | SEC |
| OR ×2 filings | April 4, 2019 | — | 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 9 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 |
|---|---|---|---|---|
| DFIS · Dimensional ETF Trust | 0.02% | 487,562 NS | April 30, 2026 | N-PORT |
| DFIC · Dimensional ETF Trust | 0.01% | 384,284 NS | April 30, 2026 | N-PORT |
| WSML · iShares Trust | 0.01% | 12,822 SH | Aug. 8, 2026 | Daily |
| ONEQ · Fidelity Commonwealth Trust | 0.01% | 216,657 NS | May 31, 2026 | N-PORT |
| DFAX · Dimensional ETF Trust | 0.00% | 207,415 NS | April 30, 2026 | N-PORT |
| IXUS · iShares Trust | 0.00% | 664,585 SH | Aug. 8, 2026 | Daily |
| IDEV · iShares Trust | 0.00% | 353,992 SH | Aug. 8, 2026 | Daily |
| DXIV · Dimensional ETF Trust | 0.00% | 1,700 NS | April 30, 2026 | N-PORT |
| DFAI · Dimensional ETF Trust | 0.00% | 170,569 NS | April 30, 2026 | N-PORT |