CTMX CytomX Therapeutics, Inc. - Common Stock
$3.52
Price · Aug 19, 2026
Fundamentals as of Aug 6, 2026
52W Range
$2–$8
26% of range
Analyst Rating
BUY
14 analysts
Price Target
$12
+248% upside
P/E (TTM)
—
ROE
-15.9%
Net Profit Margin
-22.8%
CTMX Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$3.52
Market Cap
$599M
P/E (TTM)
—
EPS (TTM)
—
Revenue (TTM)
$76M
Div Yield
—
ROE
-15.9%
Debt/Equity
—
52W Range
$2 – $8
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10-Year Performance Revenue, net income, margins and EPS trends
Revenue & Net Income
$76M
2016-12-31
→
2025-12-31
EPS
—
Free Cash Flow
$-76M
2018-12-31
→
2025-12-31
Margins
-22.8%
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Metric
5Y trend
CTMX
Peer Median
P/S (TTM)
7.9
26.1
P/B
6.1
3.0
Price / FCF
-7.9
—
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Metric
5Y trend
CTMX
Peer Median
Operating Margin
-29.3%
—
Net Profit Margin
-22.8%
-130.5%
ROA
-12.8%
-28.0%
ROE
-15.9%
-36.6%
ROIC
-22.9%
—
Financial Health Debt, liquidity, solvency — balance sheet strength
Metric
5Y trend
CTMX
Peer Median
Current Ratio
3.1
10.4
Quick Ratio
0.3
—
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Metric
5Y trend
CTMX
Peer Median
Revenue YoY
-44.8%
—
Revenue CAGR 3Y
12.8%
—
Revenue CAGR 5Y
2.2%
—
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
Metric
5Y trend
CTMX
Peer Median
CTMX Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
BUY
14 analysts
- Strong Buy 6 42.9%
- Buy 7 50.0%
- Hold 1 7.1%
- Sell 0 0.0%
- Strong Sell 0 0.0%
12-Month Price Target
8 analysts · 2026-08-14
Median
$12.00
← Below all targets
$3.52
Low
$6.00
High
$16.00
Median target
$12.00
+240.9%
Mean target
$12.25
+248.0%
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
0.01%
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| June 30, 2026 | $-0.09 | $-0.08 | -0.01% |
| March 31, 2026 | $-0.10 | $-0.12 | 0.02% |
| Dec. 31, 2025 | $-0.22 | $-0.10 | -0.12% |
| Sept. 30, 2025 | $-0.09 | $-0.05 | -0.04% |
| June 30, 2025 | $-0.00 | $-0.08 | 0.08% |
| March 31, 2025 | $0.27 | $0.13 | 0.14% |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| CTMX | $725M | — | -44.8% | -22.8% | -15.9% | — |
| RIGL | $784M | 2.2 | 64.1% | 124.7% | 155.1% | — |
| AURA | $347M | -3.1 | -29.7% | -1601.4% | -68.2% | — |
| MNPR | — | — | — | — | — | — |
| FDMT | $432M | -3.1 | 230194.6% | -164.4% | -30.2% | — |
| ACHV | — | -4.0 | — | — | — | — |
| NGNE | $319M | -4.9 | — | — | -33.6% | — |
| STTK | $231M | -5.2 | -82.5% | -4880.9% | -70.0% | — |
| RGNX | $733M | -3.8 | 104.5% | -113.8% | -122.5% | — |
| BBOT | $1.00B | -2.9 | — | — | -146.2% | — |
| IRWD | $550M | 22.5 | -15.7% | 8.1% | -8.5% | — |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement 14
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $76M | $138M | $101M | $53M | $37M | $68M | $27M | $60M | $72M | $15M | $8M | $5M | |
| R&D Expense | $69M | $83M | $78M | $112M | $114M | $113M | $132M | $104M | $92M | $55M | $28M | $28M | |
| SG&A Expense | $30M | $30M | $30M | $43M | $39M | $36M | $37M | $34M | $26M | $20M | $13M | $7M | |
| Operating Expenses | $99M | $113M | $108M | $154M | $153M | $149M | $168M | $137M | $118M | $75M | $41M | $35M | |
| Operating Income | $-22M | $25M | $-6M | $-101M | $-116M | $-81M | $-141M | $-78M | $-46M | $-60M | $-33M | $-30M | |
| Interest Expense | · | · | · | · | · | · | · | · | · | $2M | $2M | $487.0K | |
| Interest Income | $5M | $7M | $10M | $2M | $255.0K | $2M | $8M | $8M | $3M | $736.0K | $1M | $7.0K | |
| Other Non-op | $28.0K | $-38.0K | $-30.0K | $340.0K | $-83.0K | $-27.0K | $-135.0K | $-68.0K | $-27.0K | $-69.0K | $-2M | $-55.0K | |
| Pretax Income | $-17M | $32M | $3M | $-99M | $-116M | $-79M | $-133M | $-70M | $-44M | $-59M | $-35M | $-30M | |
| Income Tax | $238.0K | $224.0K | $4M | $0 | $0 | $-14M | $-427.0K | $14M | $-513.0K | $-19.0K | $10.0K | $10.0K | |
| Net Income | $-17M | $32M | $-569.0K | $-99M | $-116M | $-65M | $-133M | $-85M | $-43M | $-59M | $-35M | $-30M | |
| Shares (Basic) | 137,935,873 | 84,439,303 | 73,808,237 | 65,739,844 | 64,146,848 | 46,145,563 | 45,335,927 | · | · | · | · | · | |
| Shares (Diluted) | 137,935,873 | 84,745,116 | 73,808,237 | 65,739,844 | 64,146,848 | 46,145,563 | 45,335,927 | · | · | · | · | · | |
| EBITDA | $-22M | $25M | $-6M | $-101M | · | $-49M | $-111M | $-78M | · | · | $-33M | · |
Balance Sheet 27
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $13M | $38M | $17M | $194M | $206M | $192M | $188M | $248M | $178M | $105M | $60M | $64M | |
| Short-term Investments | · | · | · | · | · | · | · | · | $197M | $77M | $127M | $0 | |
| Receivables | $2M | $3M | $3M | $36M | $790.0K | $798.0K | $13.0K | $97.0K | $10M | $2M | $372.0K | $2M | |
| Prepaid Expense | $5M | $4M | $5M | $7M | $4M | $7M | $7M | $9M | $4M | $4M | $2M | $482.0K | |
| Current Assets | $144M | $107M | $183M | $237M | $310M | $324M | $303M | $445M | $389M | $188M | $190M | $67M | |
| PP&E (Net) | $1M | $2M | $4M | $5M | $6M | $7M | $7M | $7M | $4M | $4M | $3M | $3M | |
| PP&E (Gross) | $18M | $19M | $19M | $19M | $20M | $18M | $16M | $14M | $9M | $8M | $6M | $5M | |
| Accum. Depreciation | $17M | $16M | $15M | $14M | $14M | $11M | $9M | $7M | $5M | $4M | $3M | $2M | |
| Goodwill | $949.0K | $949.0K | $949.0K | $949.0K | $949.0K | $949.0K | $949.0K | $949.0K | $949.0K | $949.0K | $949.0K | $949.0K | |
| Intangibles | · | · | · | · | · | · | · | · | · | · | $2M | $2M | |
| Other Non-current Assets | $31.0K | $66.0K | $83.0K | $27.0K | $901.0K | $2M | $2M | $1M | $1M | $3M | $364.0K | $492.0K | |
| Total Assets | $152M | $121M | $202M | $261M | $339M | $359M | $341M | $457M | $398M | $199M | $197M | $73M | |
| Accounts Payable | $1M | $1M | $1M | $3M | $3M | $3M | $4M | $5M | $4M | $7M | $5M | $2M | |
| Accrued Liabilities | $14M | $12M | $18M | $24M | $34M | $23M | $30M | $27M | $16M | $9M | $5M | $2M | |
| Current Liabilities | $47M | $86M | $156M | $153M | $78M | $68M | $86M | $98M | $61M | $36M | $16M | $11M | |
| Capital Leases | $0 | $4M | $9M | $14M | $18M | $22M | $25M | · | · | · | · | · | |
| Deferred Tax | · | · | · | · | · | · | · | · | · | $513.0K | $507.0K | $499.0K | |
| Other Non-current Liabilities | $4M | $4M | $4M | $0 | · | · | $850.0K | $3M | $2M | $566.0K | $198.0K | $249.0K | |
| Total Liabilities | $53M | $121M | $249M | $347M | $340M | $366M | $290M | $326M | $328M | $121M | $71M | $75M | |
| Long-term Debt | · | · | · | · | · | · | · | · | · | · | · | $3M | |
| Common Stock | $2.0K | $1.0K | $1.0K | $1.0K | $1.0K | $1.0K | $1.0K | $1.0K | $1.0K | $1.0K | $1.0K | $1.0K | |
| Paid-in Capital | $811M | $691M | $676M | $637M | $623M | $500M | $468M | $446M | $289M | $255M | $244M | · | |
| Retained Earnings | $-712M | $-692M | $-723M | $-723M | $-624M | $-508M | $-443M | $-315M | $-219M | $-176M | $-117M | $-78M | |
| AOCI | $111.0K | $27.0K | $95.0K | $10.0K | $-242.0K | $-47.0K | $57.0K | $-93.0K | $-94.0K | $-27.0K | $-76.0K | · | |
| Stockholders' Equity | $99M | $-456.0K | $-47M | $-86M | $-459.0K | $-8M | $25M | $136M | $70M | $78M | $126M | $-79M | |
| Liabilities + Equity | $152M | $121M | $202M | $261M | $339M | $359M | $341M | $457M | $398M | $199M | $197M | $73M | |
| Shares Outstanding | 170,186,365 | 80,099,889 | 67,310,838 | 66,228,046 | 65,392,758 | 48,251,819 | 45,523,088 | 45,083,209 | 38,478,560 | 36,490,169 | 36,033,209 | 996,520 |
Cash Flow 14
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | · | · | · | · | · | · | · | $2M | $2M | $2M | $1M | $783.0K | |
| Stock-based Comp | $6M | $8M | $9M | $13M | $13M | $15M | $19M | $17M | $11M | $10M | $4M | $553.0K | |
| Deferred Tax | $0 | $0 | $0 | $0 | $0 | · | $-37.0K | · | $-514.0K | $-20.0K | $8.0K | $9.0K | |
| Amort. of Intangibles | $146.0K | $146.0K | $146.0K | $146.0K | $146.0K | $146.0K | $146.0K | $146.0K | $146.0K | · | · | · | |
| Operating Cash Flow | $-76M | $-86M | $-56M | $-111M | $-119M | $5M | $-140M | $-76M | $170M | $-2M | $-27M | $32M | |
| CapEx | $220.0K | $310.0K | $840.0K | $2M | $2M | $2M | $3M | $4M | $2M | $2M | $2M | $2M | |
| Investing Cash Flow | $-60M | $100M | $-151M | $98M | $22M | $-19M | $80M | $6M | $-121M | $46M | · | · | |
| Stock Issued | $110M | $7M | · | $0 | $108M | $11M | $0 | $135M | $20M | · | · | · | |
| Net Stock Activity | $110M | $7M | · | $0 | · | $11M | · | $135M | · | · | · | · | |
| Financing Cash Flow | $110M | $8M | $30M | $648.0K | $110M | $17M | $2M | $140M | $24M | $996.0K | · | · | |
| Net Change in Cash | · | · | · | · | · | · | · | · | $73M | $45M | $-5M | $56M | |
| Taxes Paid | · | · | · | · | $0 | $0 | $13M | · | · | · | · | · | |
| Free Cash Flow | $-76M | $-87M | $-57M | $-113M | · | $3M | $-144M | $-79M | · | · | $-29M | · | |
| Levered FCF | · | · | · | · | · | · | · | · | · | · | $-31M | · |
Profitability 7
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | -29.3% | 18.1% | -6.4% | -190.6% | · | -48.4% | -192.9% | -130.9% | · | · | -430.5% | · | |
| Net Margin | -22.8% | 23.1% | -0.56% | -186.8% | · | -32.8% | -177.8% | -142.2% | · | · | -458.7% | · | |
| Pretax Margin | -22.5% | 23.2% | 3.3% | -186.8% | · | -46.6% | -178.6% | -118.2% | · | · | -458.6% | · | |
| EBITDA Margin | -29.3% | 18.1% | -6.4% | -190.6% | · | -48.4% | -192.9% | -130.9% | · | · | -430.5% | · | |
| ROA | -12.8% | 19.8% | -0.25% | -33.1% | · | -9.4% | -25.6% | -19.8% | · | · | -26.2% | · | |
| ROE | -15.9% | -266.6% | 1.1% | 119.4% | · | -67.2% | -153.5% | -58.6% | · | · | -148.9% | · | |
| ROIC | -22.9% | -5443.1% | -2.3% | 118.2% | · | -68.6% | -216.1% | -71.6% | · | · | -26.3% | · |
Liquidity & Solvency 3
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 3.1 | 1.3 | 1.2 | 1.6 | · | 3.2 | 3.5 | 4.5 | · | · | 12.1 | · | |
| Quick Ratio | 0.3 | 0.5 | 0.1 | 1.5 | · | 1.9 | 2.2 | 2.5 | · | · | 11.9 | · | |
| Interest Coverage | · | · | · | · | · | · | · | · | · | · | -19.2 | · |
Efficiency 2
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.6 | 0.9 | 0.4 | 0.2 | · | 0.3 | 0.1 | 0.1 | · | · | 0.1 | · | |
| Receivables Turnover | 29.8 | 42.3 | 5.1 | 2.9 | · | 247.5 | 1045.3 | 11.6 | · | · | 5.9 | · |
Growth Rates 3
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue YoY | -44.8% | 36.4% | 90.4% | 42.5% | -45.5% | · | · | · | · | · | · | · | |
| Revenue CAGR 3Y | 12.8% | 54.7% | 13.9% | · | · | · | · | · | · | · | · | · | |
| Revenue CAGR 5Y | 2.2% | · | · | · | · | · | · | · | · | · | · | · |
Valuation (TTM) 8
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $76M | $138M | $101M | $53M | $37M | $68M | $27M | $60M | $72M | $15M | $8M | · | |
| Net Income TTM | $-17M | $32M | $-569.0K | $-99M | $-116M | $-65M | $-133M | $-85M | $-43M | $-59M | $-35M | · | |
| Market Cap | $725M | $83M | $104M | $106M | · | $316M | $378M | $681M | · | · | $752M | · | |
| P/S | 9.5 | 0.6 | 1.0 | 2.0 | · | 4.6 | 14.1 | 11.4 | · | · | 97.5 | · | |
| P/B | 7.3 | -180.9 | -2.2 | -1.2 | · | 6.3 | 7.4 | 5.2 | · | · | 6.0 | · | |
| P / Tangible Book | 7.4 | · | · | · | · | · | · | · | · | · | · | · | |
| P / Cash Flow | -9.6 | -1.0 | -1.9 | -1.0 | · | 60.1 | -2.7 | -9.0 | · | · | -27.4 | · | |
| P / FCF | -9.6 | -1.0 | -1.8 | -0.9 | · | 107.1 | -2.6 | -8.6 | · | · | -25.9 | · |
Income Statement 13
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1M | $10M | $663.0K | $6M | $19M | $51M | $38M | $33M | $27M | $26M | $25M | $23M | $20M | $11M | |
| R&D Expense | $18M | $19M | $21M | $15M | $13M | $19M | $15M | $21M | $19M | $16M | $21M | $21M | $20M | $30M | |
| SG&A Expense | $8M | $11M | $7M | $6M | $7M | $9M | $6M | $8M | $8M | $7M | $7M | $8M | $10M | $10M | |
| Operating Expenses | $25M | $30M | $29M | $22M | $20M | $28M | $20M | $29M | $27M | $23M | $28M | $29M | $30M | $41M | |
| Operating Income | $-24M | $-20M | $-28M | $-16M | $-1M | $23M | $18M | $4M | $-606.0K | $3M | $-3M | $-6M | $-10M | $-30M | |
| Interest Income | $3M | $1M | $1M | $2M | $1M | $955.0K | $1M | $2M | $3M | $3M | $2M | $2M | $732.0K | $616.0K | |
| Other Non-op | $18.0K | $-7.0K | $-5.0K | $5.0K | $17.0K | $11.0K | $-18.0K | $-7.0K | $9.0K | $-7.0K | $-47.0K | $15.0K | $1.0K | $30.0K | |
| Pretax Income | $-21M | $-18M | $-26M | $-14M | $-91.0K | $24M | $19M | $6M | $2M | $6M | $-1M | $-3M | $-9M | $-29M | |
| Income Tax | $60.0K | $59.0K | $55.0K | $58.0K | $63.0K | $62.0K | $63.0K | $61.0K | $1M | $3M | $0 | $0 | $0 | $0 | |
| Net Income | $-21M | $-18M | $-27M | $-14M | $-154.0K | $24M | $19M | $6M | $837.0K | $3M | $-1M | $-3M | $-9M | $-29M | |
| Shares (Basic) | 218,939,423 | 177,273,000 | -243,265,466 | 165,004,291 | 129,075,546 | 87,121,502 | -167,564,022 | 85,093,227 | -139,708,908 | 80,731,951 | 66,536,202 | 66,248,992 | -131,108,943 | 65,912,334 | |
| Shares (Diluted) | 218,939,423 | 177,273,000 | -243,294,630 | 165,004,291 | 129,075,546 | 87,150,666 | -167,970,245 | 85,204,709 | -139,968,679 | 80,991,722 | 66,536,202 | 66,248,992 | -131,108,943 | 65,912,334 | |
| EBITDA | $-24M | $-20M | · | $-16M | $-1M | $23M | · | $4M | · | $3M | $-3M | $-6M | · | $-24M |
Balance Sheet 23
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $17M | $29M | $13M | $34M | $49M | $48M | $38M | $41M | $17M | $26M | $58M | $56M | $194M | $95M | |
| Receivables | $37M | $646.0K | $2M | $2M | $2M | $2M | $3M | $3M | $3M | $2M | $2M | $1M | $36M | $2M | |
| Prepaid Expense | $4M | $6M | $5M | $4M | $5M | $5M | $4M | $3M | $5M | $5M | $5M | $7M | $7M | $4M | |
| Current Assets | $373M | $353M | $144M | $149M | $165M | $87M | $107M | $124M | $183M | $201M | $188M | $212M | $237M | $200M | |
| PP&E (Net) | $1M | $1M | $1M | $2M | $2M | $2M | $2M | $3M | $4M | $4M | $4M | $5M | $5M | $6M | |
| PP&E (Gross) | · | · | $18M | · | · | · | $19M | · | $19M | · | · | · | $19M | · | |
| Accum. Depreciation | · | · | $17M | · | · | · | $16M | · | $15M | · | · | · | $14M | · | |
| Goodwill | $949.0K | $949.0K | $949.0K | $949.0K | $949.0K | $949.0K | $949.0K | $949.0K | $949.0K | $949.0K | $949.0K | $949.0K | $949.0K | $949.0K | |
| Other Non-current Assets | $31.0K | $31.0K | $31.0K | $51.0K | $56.0K | $61.0K | $66.0K | $70.0K | $83.0K | $87.0K | $91.0K | $27.0K | $27.0K | $895.0K | |
| Total Assets | $381M | $359M | $152M | $158M | $175M | $98M | $121M | $139M | $202M | $221M | $209M | $235M | $261M | $226M | |
| Accounts Payable | $2M | $1M | $1M | $646.0K | $227.0K | $276.0K | $1M | $1M | $1M | $2M | $1M | $2M | $3M | $5M | |
| Accrued Liabilities | $12M | $12M | $14M | $12M | $12M | $11M | $12M | $17M | $18M | $21M | $20M | $22M | $24M | $31M | |
| Current Liabilities | $40M | $34M | $47M | $41M | $39M | $50M | $86M | $119M | $156M | $147M | $141M | $151M | $153M | $98M | |
| Capital Leases | $4M | · | $0 | $0 | $1M | $3M | $4M | $6M | $9M | $11M | $12M | $13M | $14M | $15M | |
| Other Non-current Liabilities | $4M | $4M | $4M | $4M | $4M | $4M | $4M | $4M | $4M | $3M | $216.0K | · | $0 | · | |
| Total Liabilities | $79M | $39M | $53M | $51M | $55M | $73M | $121M | $162M | $249M | $272M | $294M | $321M | $347M | $198M | |
| Common Stock | $2.0K | $2.0K | $2.0K | $2.0K | $2.0K | $1.0K | $1.0K | $1.0K | $1.0K | $1.0K | $1.0K | $1.0K | $1.0K | $1.0K | |
| Paid-in Capital | $1.05B | $1.05B | $811M | $790M | $788M | $693M | $691M | $687M | $676M | $673M | $642M | $640M | $637M | $634M | |
| Retained Earnings | $-751M | $-730M | $-712M | $-682M | $-668M | $-668M | $-692M | $-710M | $-723M | $-724M | $-727M | $-726M | $-723M | $-605M | |
| AOCI | $-196.0K | $102.0K | $111.0K | $104.0K | $33.0K | $-1.0K | $27.0K | $40.0K | $95.0K | $-63.0K | $35.0K | $26.0K | $10.0K | $-795.0K | |
| Stockholders' Equity | $302M | $320M | $99M | $107M | $120M | $25M | $-456.0K | $-23M | $-47M | $-51M | $-85M | $-87M | $-86M | $28M | |
| Liabilities + Equity | $381M | $359M | $152M | $158M | $175M | $98M | $121M | $139M | $202M | $221M | $209M | $235M | $261M | $226M | |
| Shares Outstanding | · | · | 170,186,365 | · | · | · | 80,099,889 | · | 67,310,838 | · | · | · | 66,228,046 | 65,950,242 |
Cash Flow 10
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock-based Comp | $3M | $5M | $1M | $1M | $1M | $2M | $2M | $2M | $3M | $1M | $2M | $2M | $3M | $3M | |
| Amort. of Intangibles | $36.0K | $37.0K | $37.0K | $36.0K | $37.0K | $36.0K | $37.0K | $36.0K | $37.0K | $36.0K | $37.0K | $36.0K | $36.0K | $37.0K | |
| Restructuring | · | · | · | · | · | · | · | · | · | · | · | · | · | $7M | |
| Operating Cash Flow | $-18M | $-26M | $-23M | $-16M | $-16M | $-21M | $-20M | $-21M | $-22M | $-18M | $-25M | $9M | $-1M | $-34M | |
| CapEx | $0 | $0 | $201.0K | $-127.0K | $27.0K | $119.0K | $80.0K | $19.0K | $266.0K | $9.0K | $517.0K | $48.0K | $182.0K | $410.0K | |
| Investing Cash Flow | $6M | $-193M | $-14M | $439.0K | $-76M | $31M | $15M | $18M | $13M | $-43M | $26M | $-147M | $100M | $-410.0K | |
| Stock Issued | $56.0K | $228M | $16M | $0 | $93M | $0 | $2M | $0 | · | $0 | · | · | · | $0 | |
| Net Stock Activity | · | $228M | · | · | · | · | · | · | · | · | · | · | · | · | |
| Financing Cash Flow | $511.0K | $234M | $17M | $253.0K | $94M | $0 | $2M | $0 | $244.0K | $30M | $317.0K | $0 | $190.0K | $0 | |
| Free Cash Flow | · | $-26M | · | · | · | $-21M | · | · | · | · | · | $9M | · | · |
Profitability 7
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | -1677.1% | -191.8% | · | -264.4% | -6.9% | 44.4% | · | 12.3% | · | 11.8% | -13.5% | -24.1% | · | -141.5% | |
| Net Margin | -1457.4% | -177.9% | · | -238.6% | -0.83% | 46.2% | · | 17.2% | · | 11.3% | -4.4% | -14.1% | · | -137.7% | |
| Pretax Margin | -1453.2% | -177.3% | · | -237.7% | -0.49% | 46.3% | · | 17.3% | · | 22.0% | · | · | · | · | |
| EBITDA Margin | -1677.1% | -191.8% | · | -264.4% | -6.9% | 44.4% | · | 12.3% | · | 11.8% | -13.5% | -24.1% | · | -141.5% | |
| ROA | -7.4% | -8.0% | · | -9.6% | -0.09% | 16.6% | · | 3.2% | · | 1.3% | -0.46% | -1.2% | · | -7.8% | |
| ROE | -9.8% | -10.6% | · | -33.9% | -0.35% | -709.6% | · | -15.4% | · | -26.3% | 6.0% | 35.9% | · | -33.2% | |
| ROIC | -7.9% | -6.2% | · | -14.7% | -1.8% | 90.1% | · | -17.3% | · | -3.1% | · | · | · | · |
Liquidity & Solvency 2
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 9.4 | 10.4 | · | 3.6 | 4.2 | 1.7 | · | 1.0 | · | 1.4 | 1.3 | 1.4 | · | 2.0 | |
| Quick Ratio | 1.4 | 0.9 | · | 0.9 | 1.3 | 1.0 | · | 0.4 | · | 0.2 | 0.4 | 0.4 | · | 1.0 |
Efficiency 2
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.0 | 0.0 | · | 0.0 | 0.1 | 0.4 | · | 0.2 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | |
| Receivables Turnover | 0.1 | 7.9 | · | 2.4 | 8.0 | 6.7 | · | 11.6 | · | 12.8 | 17.0 | 22.3 | · | 13.0 |
Valuation (TTM) 6
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $36M | $86M | · | $109M | $128M | $135M | · | · | · | · | · | $71M | · | $51M | |
| Net Income TTM | $-53M | $-9M | · | $15M | $23M | $16M | · | · | · | · | · | · | · | $-125M | |
| Market Cap | · | · | · | · | · | · | · | · | · | · | · | · | · | $96M | |
| P/S | · | · | · | · | · | · | · | · | · | · | · | · | · | 1.9 | |
| P/B | · | · | · | · | · | · | · | · | · | · | · | · | · | 3.4 | |
| P / Tangible Book | · | · | · | · | · | · | · | · | · | · | · | · | · | 3.5 |
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 | $76M | $138M | $101M | $53M | $37M |
| Operating Margin % | -29.3% | 18.1% | -6.4% | -190.6% | — |
| Net Income | $-17M | $32M | $-569.0K | $-99M | $-116M |
Balance Sheet
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Current Ratio | 3.1 | 1.3 | 1.2 | 1.6 | — |
| Quick Ratio | 0.3 | 0.5 | 0.1 | 1.5 | — |
Cash Flow
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Free Cash Flow | $-76M | $-87M | $-57M | $-113M | — |
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Institutional owners (13F) 188 filers · $639.8M 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 |
|---|---|---|---|---|
| 56 (-19 vs prior Q) | 45 (+26 vs prior Q) | 57 (-1 vs prior Q) | 41 (+12 vs prior Q) | +8.4M |
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 | $99,932,816 | 26,648,751 | 15.62% | Shares |
| Kynam Capital Management, LP | $81,386,599 | 21,703,093 | 12.72% | Shares |
| STATE STREET CORP | $44,052,135 | 11,747,236 | 6.89% | Shares |
| PERCEPTIVE ADVISORS LLC | $39,146,944 | 10,439,185 | 6.12% | Shares |
| BANK OF AMERICA CORP /DE/ | $33,995,602 | 9,065,494 | 5.31% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $31,970,464 | 8,525,457 | 5.00% | Shares |
| Point72 Asset Management, L.P. | $29,291,374 | 7,811,033 | 4.58% | Shares |
| Venrock Adviser, LLC | $18,682,965 | 4,982,124 | 2.92% | Shares |
| BAKER BROS. ADVISORS LP | $18,659,348 | 4,975,826 | 2.92% | Shares |
| Elmind Capital, LP | $17,062,500 | 4,550,000 | 2.67% | Shares |
| Nextech Invest Ltd. | $16,687,245 | 4,449,932 | 2.61% | Shares |
| TWO SIGMA INVESTMENTS, LP | $15,497,411 | 4,132,643 | 2.42% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $15,057,333 | 4,014,472 | 2.35% | Shares |
| Eversept Partners, LP | $13,344,364 | 3,558,497 | 2.09% | Shares |
| Siren, L.L.C. | $12,966,416 | 3,457,711 | 2.03% | Shares |
| ADAR1 Capital Management, LLC | $12,619,193 | 3,365,118 | 1.97% | Shares |
| WELLINGTON MANAGEMENT GROUP LLP | $11,990,888 | 3,197,570 | 1.87% | Shares |
| CITADEL ADVISORS LLC | $11,663,138 | 3,110,170 | 1.82% | Shares |
| Woodline Partners LP | $7,650,788 | 2,040,210 | 1.20% | Shares |
| Qube Research & Technologies Ltd | $6,842,115 | 1,824,564 | 1.07% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $6,566,876 | 1,751,167 | 1.03% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $6,503,445 | 1,734,252 | 1.02% | Shares |
| MILLENNIUM MANAGEMENT LLC | $6,321,862 | 1,685,830 | 0.99% | Shares |
| TUDOR INVESTMENT CORP ET AL | $5,177,576 | 1,380,687 | 0.81% | Shares |
| GOLDMAN SACHS GROUP INC | $5,175,859 | 1,380,229 | 0.81% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $4,752,863 | 1,267,430 | 0.74% | Shares |
| SPHERA FUNDS MANAGEMENT LTD. | $3,296,250 | 879,000 | 0.52% | Shares |
| Ally Bridge Group (NY) LLC | $2,906,250 | 775,000 | 0.45% | Shares |
| DV EQUITIES, LLC | $2,677,500 | 714,000 | 0.42% | Shares |
| GILDER GAGNON HOWE & CO LLC | $2,641,586 | 704,423 | 0.41% | Shares |
| Caption Management, LLC | $2,625,000 | 700,000 | 0.41% | Call option |
| FIRST TRUST ADVISORS LP | $2,248,860 | 599,696 | 0.35% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $2,062,031 | 549,875 | 0.32% | Shares |
| Ensign Peak Advisors, Inc | $1,893,956 | 505,055 | 0.30% | Shares |
| SCHULHOFF & CO INC | $1,790,812 | 477,550 | 0.28% | Shares |
| Exome Asset Management LLC | $1,725,251 | 460,067 | 0.27% | Shares |
| DAFNA Capital Management LLC | $1,644,026 | 438,407 | 0.26% | Shares |
| Caption Management, LLC | $1,575,000 | 420,000 | 0.25% | Put option |
| TWO SIGMA ADVISERS, LP | $1,429,332 | 335,524 | 0.22% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $1,395,000 | 372,000 | 0.22% | Call option |
| Seven Fleet Capital Management LP | $1,392,743 | 371,398 | 0.22% | Shares |
| Assenagon Asset Management S.A. | $1,365,649 | 364,173 | 0.21% | Shares |
| Jump Financial, LLC | $1,302,750 | 347,400 | 0.20% | Shares |
| Swiss National Bank | $1,220,250 | 325,400 | 0.19% | Shares |
| Caption Management, LLC | $1,125,000 | 300,000 | 0.18% | Shares |
| BlackRock, Inc. | $1,118,576 | 298,287 | 0.17% | Shares |
| CITIGROUP INC | $1,040,974 | 277,593 | 0.16% | Shares |
| LMR Partners LLP | $1,024,549 | 273,213 | 0.16% | Shares |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC | $890,180 | 189,400 | 0.14% | Shares |
| MARSHALL WACE, LLP | $855,715 | 228,190 | 0.13% | Shares |
| RHUMBLINE ADVISERS | $834,420 | 222,514 | 0.13% | Shares |
| Rafferty Asset Management, LLC | $830,164 | 221,377 | 0.13% | Shares |
| Stonepine Capital Management, LLC | $768,750 | 205,000 | 0.12% | Shares |
| Focus Partners Wealth | $742,043 | 197,878 | 0.12% | Shares |
| Bank of New York Mellon Corp | $708,754 | 189,001 | 0.11% | Shares |
| Verdad Advisers, LP | $661,526 | 176,407 | 0.10% | Shares |
| LPL Financial LLC | $643,999 | 171,733 | 0.10% | Shares |
| HighVista Strategies LLC | $636,866 | 169,831 | 0.10% | Shares |
| WELLS FARGO & COMPANY/MN | $586,268 | 156,338 | 0.09% | Shares |
| AWM Investment Company, Inc. | $562,500 | 150,000 | 0.09% | Shares |
| CANADA PENSION PLAN INVESTMENT BOARD | $530,625 | 141,500 | 0.08% | Shares |
| CITADEL ADVISORS LLC | $491,250 | 131,000 | 0.08% | Call option |
| ALLIANCEBERNSTEIN L.P. | $490,257 | 104,310 | 0.08% | Shares |
| Walleye Capital LLC | $474,473 | 126,526 | 0.07% | Shares |
| NLB Skladi, upravljanje premozenja, d.o.o. | $468,750 | 125,000 | 0.07% | Shares |
| VANGUARD ASSET MANAGEMENT, Ltd | $460,849 | 122,893 | 0.07% | Shares |
| Velan Capital Investment Management LP | $450,000 | 120,000 | 0.07% | Shares |
| Squarepoint Ops LLC | $420,570 | 112,152 | 0.07% | Shares |
| PROFUND ADVISORS LLC | $417,668 | 111,378 | 0.07% | Shares |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM | $415,381 | 88,379 | 0.06% | Shares |
| Virtus Investment Advisers, LLC | $407,636 | 108,703 | 0.06% | Shares |
| ALPS ADVISORS INC | $401,625 | 107,100 | 0.06% | Shares |
| MetLife Investment Management, LLC | $392,381 | 104,635 | 0.06% | Shares |
| Aspire Growth Partners LLC | $383,452 | 102,254 | 0.06% | Shares |
| Robertson Stephens Wealth Management, LLC | $360,000 | 96,000 | 0.06% | Shares |
| ALGERT GLOBAL LLC | $340,875 | 90,900 | 0.05% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $340,024 | 90,673 | 0.05% | Shares |
| CITADEL ADVISORS LLC | $332,250 | 88,600 | 0.05% | Put option |
| BARCLAYS PLC | $321,191 | 85,651 | 0.05% | Shares |
| Miller Financial Services LLC | $318,750 | 85,000 | 0.05% | Shares |
| Engineers Gate Manager LP | $311,738 | 83,130 | 0.05% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $307,125 | 81,900 | 0.05% | Put option |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. | $306,068 | 81,618 | 0.05% | Shares |
| Zurcher Kantonalbank (Zurich Cantonalbank) | $299,310 | 79,816 | 0.05% | Shares |
| Vanguard Global Advisers, LLC | $268,564 | 71,617 | 0.04% | Shares |
| Invesco Ltd. | $266,194 | 70,985 | 0.04% | Shares |
| Skopos Labs, Inc. | $260,747 | 55,478 | 0.04% | Shares |
| China Universal Asset Management Co., Ltd. | $242,426 | 64,647 | 0.04% | Shares |
| VANGUARD GROUP INC | $232,472 | 54,571 | 0.04% | Shares |
| JANUS HENDERSON GROUP PLC | $219,724 | 46,700 | 0.03% | Shares |
| RAYMOND JAMES FINANCIAL INC | $213,000 | 56,800 | 0.03% | Shares |
| State of Wyoming | $206,201 | 54,987 | 0.03% | Shares |
| AMERICAN CENTURY COMPANIES INC | $205,871 | 54,899 | 0.03% | Shares |
| Private Advisor Group, LLC | $204,383 | 54,502 | 0.03% | Shares |
| Police & Firemen's Retirement System of New Jersey | $196,871 | 52,499 | 0.03% | Shares |
| State of New Jersey Common Pension Fund D | $196,590 | 52,424 | 0.03% | Shares |
| Toroso Investments, LLC | $194,950 | 45,763 | 0.03% | Shares |
| Universal- Beteiligungs- und Servicegesellschaft mbH | $189,484 | 50,529 | 0.03% | Shares |
| TUDOR INVESTMENT CORP ET AL | $188,625 | 50,300 | 0.03% | Call option |
| Congress Park Capital LLC | $184,392 | 49,171 | 0.03% | Shares |
Company insiders 30 insiders · 12 officers · 15 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Sean A. Mccarthy | CEO | March 16, 2023 S | 388,821 | 0 | 0 | $0 |
| Christopher Ogden | Chief Financial Officer | June 15, 2026 S | 295,324 | 0 | 1 | $-4,953 |
| Jeffrey B Landau | Chief Financial Officer | March 16, 2023 S | 69,248 | 0 | 0 | $0 |
| Carlos Campoy | Chief Financial Officer | March 16, 2023 S | 38,224 | 0 | 0 | $0 |
| Debanjan Ray | Chief Financial Officer | Aug. 1, 2018 M | 5,928 | 0 | 0 | $0 |
| Ii Robert C. Goeltz | Chief Financial Officer | May 12, 2017 M | 32,756 | 0 | 0 | $0 |
| Marcia Belvin | SVP, Chief Scientific Officer | March 22, 2023 A | 140,820 | 0 | 0 | $0 |
| Amy C. Peterson | EVP, Chief Development Officer | March 16, 2023 S | 58,433 | 0 | 0 | $0 |
| Lloyd A Rowland | General Counsel | March 16, 2023 S | 71,095 | 0 | 0 | $0 |
| Rachel Humphrey | Chief Medical Officer | March 2, 2018 M | 30,234 | 0 | 0 | $0 |
| William Michael Kavanaugh | CSO, Head Res.&Non-Clin. Dev. | Jan. 24, 2018 A | 19,047 | 0 | 0 | $0 |
| Cynthia J Ladd | Senior VP and General Counsel | Jan. 25, 2017 A | 3,000 | 0 | 0 | $0 |
| Charles S. Fuchs | Director | July 24, 2026 A | — | 0 | 0 | $0 |
| Zhen Su | Director | June 17, 2026 A | — | 0 | 0 | $0 |
| Alan Ashworth | Director | June 17, 2026 A | — | 0 | 0 | $0 |
| Mani Mohindru | Director | June 17, 2026 A | — | 0 | 0 | $0 |
| Matthew P. Young | Director | June 17, 2026 A | — | 0 | 0 | $0 |
| Halley E Gilbert | Director | June 17, 2026 A | — | 0 | 0 | $0 |
| James R Meyers | Director | June 17, 2026 A | — | 0 | 0 | $0 |
| Elaine V Jones | Director | June 17, 2026 A | 5,142 | 0 | 0 | $0 |
| Hoyoung Huh | Director | June 13, 2018 A | — | 0 | 0 | $0 |
| John A Scarlett | Director | June 13, 2018 A | — | 0 | 0 | $0 |
| Frederick W Gluck | Director | June 13, 2018 A | 271,643 | 0 | 0 | $0 |
| Marion Mccourt | Director | June 20, 2017 A | — | 0 | 0 | $0 |
| Neil Exter | Director | June 20, 2017 A | 0 | 0 | 0 | $0 |
| Timothy M Shannon | Director | Nov. 29, 2016 S | 3,244,381 | 0 | 0 | $0 |
| Robert I Tepper | 10% owner | Oct. 4, 2017 S | 29,516 | 0 | 0 | $0 |
| Kevin P Starr | 10% owner | April 12, 2017 S | 31,419 | 0 | 0 | $0 |
| Hadley Harbor Master Investors (Cayman) L.P. | 10% owner | Oct. 14, 2015 C | 749,055 | 0 | 0 | $0 |
| Alejandra Carvajal | — | Aug. 3, 2026 A | 100,000 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
ETF ownership Held by 37 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 |
|---|---|---|---|---|
| FMED · Fidelity Covington Trust | 0.98% | 112,069 NS | May 31, 2026 | N-PORT |
| BBC · ETFis Series Trust I | 0.74% | 65,872 NS | April 30, 2026 | N-PORT |
| IDNA · iShares Trust | 0.64% | 375,908 SH | Aug. 8, 2026 | Daily |
| QQQS · Invesco Exchange-Traded Fund Trust … | 0.47% | 31,061 SH | Aug. 8, 2026 | Daily |
| CANC · Tema ETF Trust | 0.47% | 228,987 NS | May 31, 2026 | N-PORT |
| LABU · Direxion Shares ETF Trust | 0.21% | 258,130 NS | April 30, 2026 | N-PORT |
| BFOR · ALPS ETF Trust | 0.18% | 105,982 NS | May 31, 2026 | N-PORT |
| IWC · iShares Trust | 0.14% | 602,006 SH | Aug. 8, 2026 | Daily |
| FFSM · FIDELITY COVINGTON TRUST | 0.09% | 290,427 NS | April 30, 2026 | N-PORT |
| IBBQ · Invesco Exchange-Traded Fund Trust … | 0.05% | 11,848 SH | Aug. 8, 2026 | Daily |
| IBB · iShares Trust | 0.04% | 1,218,047 SH | Aug. 8, 2026 | Daily |
| BIB · ProShares Trust | 0.03% | 6,265 NS | May 31, 2026 | N-PORT |
| IWO · iShares Trust | 0.02% | 890,900 SH | Aug. 8, 2026 | Daily |
| ISCV · iShares Trust | 0.02% | 41,747 SH | Aug. 8, 2026 | Daily |
| VTWO · VANGUARD SCOTTSDALE FUNDS | 0.02% | 1,024,499 SH | Aug. 8, 2026 | Daily |
| VTWV · VANGUARD SCOTTSDALE FUNDS | 0.02% | 70,221 SH | Aug. 8, 2026 | Daily |
| VTWG · VANGUARD SCOTTSDALE FUNDS | 0.02% | 104,846 SH | Aug. 8, 2026 | Daily |
| IWM · iShares Trust | 0.02% | 4,514,184 SH | Aug. 8, 2026 | Daily |
| IWN · iShares Trust | 0.02% | 751,702 SH | Aug. 8, 2026 | Daily |
| TECB · iShares Trust | 0.01% | 17,020 SH | Aug. 8, 2026 | Daily |
| FHLC · FIDELITY COVINGTON TRUST | 0.01% | 74,256 NS | April 30, 2026 | N-PORT |
| VXF · VANGUARD INDEX FUNDS | 0.01% | 2,095,997 SH | Aug. 8, 2026 | Daily |
| VHT · VANGUARD WORLD FUND | 0.01% | 484,160 SH | Aug. 8, 2026 | Daily |
| PRFZ · Invesco Exchange-Traded Fund Trust | 0.01% | 82,872 SH | Aug. 8, 2026 | Daily |
| ISCB · iShares Trust | 0.01% | 8,428 SH | Aug. 8, 2026 | Daily |
| DFAS · Dimensional ETF Trust | 0.01% | 297,321 NS | April 30, 2026 | N-PORT |
| WSML · iShares Trust | 0.00% | 5,815 SH | Aug. 8, 2026 | Daily |
| DCOR · Dimensional ETF Trust | 0.00% | 12,796 NS | April 30, 2026 | N-PORT |
| DXUV · Dimensional ETF Trust | 0.00% | 1,429 NS | April 30, 2026 | N-PORT |
| IWV · iShares Trust | 0.00% | 59,165 SH | Aug. 8, 2026 | Daily |
| DFAU · Dimensional ETF Trust | 0.00% | 24,102 NS | April 30, 2026 | N-PORT |
| ITOT · iShares Trust | 0.00% | 224,306 SH | Aug. 8, 2026 | Daily |
| DFAC · Dimensional ETF Trust | 0.00% | 71,243 NS | April 30, 2026 | N-PORT |
| DFUS · Dimensional ETF Trust | 0.00% | 14,903 NS | April 30, 2026 | N-PORT |
| VTI · VANGUARD INDEX FUNDS | 0.00% | 6,230,387 SH | Aug. 8, 2026 | Daily |
| VTHR · VANGUARD SCOTTSDALE FUNDS | 0.00% | 14,861 SH | Aug. 8, 2026 | Daily |
| DFUV · Dimensional ETF Trust | 0.00% | 282 NS | April 30, 2026 | N-PORT |