DNA Ginkgo Bioworks Holdings, Inc. Class A Common Stock
$7.18
Price · Aug 19, 2026
Fundamentals as of Aug 6, 2026
52W Range
$5–$18
15% of range
Analyst Rating
SELL
10 analysts
Price Target
$7
P/E (TTM)
-1.3
ROE
-55.8%
Net Profit Margin
-183.8%
About Ginkgo Bioworks Holdings, Inc. Class A Common Stock Company overview from Wikipedia
Ginkgo Bioworks Holdings, Inc. is an American biotech company founded in 2008 by five scientists from MIT. The company specializes in using genetic engineering to produce bacteria with industrial applications for other biotech companies, saving other companies the cost of reproducing the initial stages of design in synthetic biology. The self-proclaimed "Organism Company" was one of the world's largest privately held biotech companies, valued at $4.2 billion in 2019. It raised $290 million in September and $350 million in October of that year. Ginkgo Bioworks went public on the New York Stock Exchange via a SPAC merger on September 17, 2021.
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Ginkgo Bioworks Holdings, Inc. is an American biotech company founded in 2008 by five scientists from MIT. The company specializes in using genetic engineering to produce bacteria with industrial applications for other biotech companies, saving other companies the cost of reproducing the initial stages of design in synthetic biology. The self-proclaimed "Organism Company" was one of the world's largest privately held biotech companies, valued at $4.2 billion in 2019. It raised $290 million in September and $350 million in October of that year. Ginkgo Bioworks went public on the New York Stock Exchange via a SPAC merger on September 17, 2021.
History
In 2014, Ginkgo was the first biotechnology company to join the Y Combinator start-up accelerator program.
On 16 December 2020, it was reported that Ginkgo Bioworks would acquire the primary assets of Novogy's Microbial Engineering Platform. 2020 also saw the company acquire property worth $25 million from Marcus Partners for the construction of a new 219,000 square foot laboratory building, after razing existing structures, located in the Raymond L Flynn Marine Park. As of 2021, the company also occupied 200,000 square feet of the Innovation and Design Building (aka IDB) in the Park. Ginkgo also occupied facilities in Cambridge, where most MIT-spin outs resided at the time.
Growth of Ginkgo up to 2021 had been driven by "robust venture capital funding" and entry into the COVID-19 testing market. This included $45 million from Viking Global in 2015.
On 11 May 2021, Ginkgo Bioworks announced plans of going public through a merger with SPAC Soaring Eagle at a $17.5 billion valuation.
On 14 May 2021, Ginkgo announced its new ticker for the NYSE will be "DNA". The ticker was previously used by Genentech, who stopped using the ticker after they were acquired by Roche. Trading began on September 17, 2021. The investment management firm Baillie Gifford became the largest shareholder (15%) with the purchase of 167.75 million shares on 31 March 2022.
On 14 March 2022, it was reported that Ginkgo Bioworks signed a Definitive Agreement to Acquire FGen AG, a leading bioengineering company and its proprietary ultra-high-throughput screening platform.
On 6 June 2022, it was reported that Ginkgo Bioworks has acquired assets from real-time metabolite monitoring company, Bitome.
On 25 July 2022, Ginkgo Bioworks agreed to acquire Zymergen for $300 million in an all-stock deal.
On 27 July 2022, it was reported that Ginkgo Bioworks would acquire Bayer's Biologics Research & Development site, located in West Sacramento. Ginkgo will enter into a new multi-year platform collaboration with Bayer. The deal includes the integration of the R&D platform assets from Joyn Bio, a joint-venture between Leaps by Bayer investments and Ginkgo Bioworks.
On 4 October 2022, it was reported that Ginkgo Bioworks would acquire France-based adaptive laboratory evolution instruments developer Altar and California-based Circularis to strengthen capabilities in cell and gene therapy.
In October 2022, Bloomberg News reported that Ginkgo Bioworks partnered with Intelligence Advanced Research Projects Activity to create a software tool to help detect when biological organisms have been genetically engineered. The tool known as ENDAR (short for Engineered Nucleotide Detection and Ranking) could be used to provide an early warning of bioweapons and other man-made biological threats.
Fraud allegations
On 6 October 2021, a market research firm published a report accusing Ginkgo of embellishing its revenue in a complex scheme highly dependent on related-party transactions. The report prompted an inquiry into Ginkgo by the United States Department of Justice. In November 2021, Ginkgo was sued in a shareholder lawsuit alleging it misrepresented its revenue sources in statements regarding its merger with a special-purpose acquisition company. As of 2021, the company could not name a single significant product that is manufactured and sold using its organisms.
In March 2023, the former Attorney General of Louisiana launched an investigation into the officers and directors of Ginkgo.
Source: Wikipedia, CC BY-SA 4.0 · View on Wikipedia ↗
DNA Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$7.18
Market Cap
$443M
P/E (TTM)
-1.3
EPS (TTM)
$-5.64
Revenue (TTM)
$170M
Div Yield
—
ROE
-55.8%
Debt/Equity
—
52W Range
$5 – $18
DNA Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view
Configure
10-Year Performance Revenue, net income, margins and EPS trends
Revenue & Net Income
$170M
2019-12-31
→
2025-12-31
EPS
$-5.64
2019-12-31
→
2025-12-31
Free Cash Flow
$-179M
2022-12-31
→
2025-12-31
Margins
-183.8%
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Metric
5Y trend
DNA
Peer Median
P/E (TTM)
-1.3
17.5
P/S (TTM)
2.6
3.3
P/B
0.9
2.1
Price / FCF
-2.5
—
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Metric
5Y trend
DNA
Peer Median
Operating Margin
-185.3%
—
Net Profit Margin
-183.8%
-56.5%
ROA
-25.1%
-17.2%
ROE
-55.8%
-41.3%
ROIC
-61.8%
—
Financial Health Debt, liquidity, solvency — balance sheet strength
Metric
5Y trend
DNA
Peer Median
Current Ratio
4.9
4.9
Quick Ratio
4.7
—
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Metric
5Y trend
DNA
Peer Median
Revenue YoY
-25.1%
—
Revenue CAGR 3Y
-29.1%
—
Revenue CAGR 5Y
17.3%
—
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
Metric
5Y trend
DNA
Peer Median
DNA Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
SELL
10 analysts
- Strong Buy 0 0.0%
- Buy 1 10.0%
- Hold 2 20.0%
- Sell 5 50.0%
- Strong Sell 2 20.0%
12-Month Price Target
2 analysts · 2026-08-15
Median
$7.00
Now
$7.18
Low
$5.00
High
$9.00
Median target
$7.00
-2.5%
Mean target
$7.00
-2.5%
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
0.05%
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| June 30, 2026 | $-0.75 | $-0.92 | 0.17% |
| March 31, 2026 | $-1.39 | $-1.09 | -0.30% |
| Dec. 31, 2025 | $-1.41 | $-1.47 | 0.06% |
| Sept. 30, 2025 | $-1.45 | $-1.25 | -0.20% |
| June 30, 2025 | $-1.10 | $-1.58 | 0.48% |
| March 31, 2025 | $-1.68 | $-1.79 | 0.11% |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| DNA | $484M | -1.5 | -25.1% | -183.8% | -55.8% | — |
| AZTA | $1.32B | -23.5 | 3.5% | -9.4% | -3.3% | 45.5% |
| CYRX | $479M | 6.9 | 12.4% | 44.4% | 15.3% | 47.1% |
| MLAB | $489M | 73.1 | 3.4% | 2.7% | 3.7% | 63.5% |
| CTKB | $649M | 505.0 | 0.52% | -33.0% | -18.5% | 51.8% |
| OABI | — | — | — | — | — | — |
| PACB | $565M | -1.0 | 3.9% | -341.5% | -1634.9% | 28.6% |
| TKNO | $204M | -11.9 | 7.3% | -42.6% | -23.8% | 33.2% |
| LAB | $495M | -6.4 | -6.2% | -87.8% | -17.6% | 49.9% |
| CDXS | $147M | -3.3 | 18.6% | -62.5% | -82.8% | — |
| LFCR | $249M | -5.3 | 0.47% | -30.0% | -461.3% | 31.3% |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement 15
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $170M | $227M | $251M | $478M | $314M | $77M | $54M | |
| R&D Expense | $244M | $424M | $581M | $1.05B | $1.15B | $160M | $96M | |
| SG&A Expense | $183M | $246M | $385M | $1.43B | $863M | $38M | $29M | |
| Operating Expenses | $485M | $787M | $1.12B | $2.69B | $2.14B | $214M | $126M | |
| Operating Income | $-315M | $-560M | $-864M | $-2.21B | $-1.83B | $-137M | $-72M | |
| Interest Expense | · | · | $93.0K | $106.0K | $2M | $2M | $2M | |
| Other Non-op | $2M | $12M | $-29M | $88M | $-10M | $12M | · | |
| Pretax Income | $-314M | $-548M | $-893M | $-2.12B | $-1.84B | $-125M | $-120M | |
| Income Tax | $-837.0K | $-479.0K | $-71.0K | $-15M | $-1M | $2M | $22.0K | |
| Net Income | $-313M | $-547M | $-893M | $-2.10B | $-1.83B | $-127M | $-119M | |
| EPS (Basic) | $-5.64 | $-10.54 | $-18.37 | $-50.15 | $-1.35 | $-0.10 | $-0.10 | |
| EPS (Diluted) | $-5.64 | $-10.54 | $-18.37 | $-50.20 | $-1.39 | $-0.10 | $-0.10 | |
| Shares (Basic) | 55,457,676 | 51,894,639 | 48,610,507 | 41,976,537 | 1,359,849,000 | 1,274,766,915 | 1,149,000,417 | |
| Shares (Diluted) | 55,457,676 | 51,894,639 | 48,610,507 | 41,995,972 | 1,360,373,000 | 1,274,766,915 | 1,149,000,417 | |
| EBITDA | $-315M | $-560M | $-864M | $-2.21B | · | · | · |
Balance Sheet 28
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $167M | $562M | $944M | $1.32B | $1.55B | $381M | $495M | |
| Short-term Investments | $255M | $0 | · | · | · | · | · | |
| Receivables | $24M | $22M | $17M | $81M | $132M | $17M | · | |
| Inventory | · | · | $46.0K | $4M | $3M | $3M | · | |
| Prepaid Expense | $25M | $19M | $40M | $52M | $34M | $21M | · | |
| Other Current Assets | · | · | $362.0K | $487.0K | $698.0K | $680.0K | · | |
| Current Assets | $472M | $603M | $1.00B | $1.45B | $1.72B | $427M | · | |
| PP&E (Net) | $167M | $204M | $188M | $315M | $146M | $121M | · | |
| PP&E (Gross) | $355M | $365M | $309M | $408M | $207M | $155M | · | |
| Accum. Depreciation | $188M | $161M | $121M | $93M | $61M | $34M | · | |
| Goodwill | · | $0 | $49M | $60M | $21M | $2M | $2M | |
| Intangibles | $53M | $73M | $83M | $111M | $22M | $3M | · | |
| Other Non-current Assets | $9M | $55M | $58M | $89M | $44M | $6M | · | |
| Total Assets | $1.12B | $1.38B | $1.67B | $2.54B | $2.07B | $675M | · | |
| Accounts Payable | $11M | $14M | $9M | $10M | $8M | $14M | · | |
| Accrued Liabilities | · | · | · | $115M | $93M | $31M | · | |
| Short-term Debt | · | · | · | · | · | $300.0K | · | |
| Current Liabilities | $96M | $107M | $164M | $173M | $135M | $73M | · | |
| Capital Leases | $417M | $439M | $222M | $413M | $0 | · | · | |
| Other Non-current Liabilities | $23M | $17M | $24M | $31M | $36M | $3M | · | |
| Total Liabilities | $611M | $661M | $568M | $803M | $504M | $205M | · | |
| Common Stock | $6.0K | $5.0K | $5.0K | $190.0K | $161.0K | $129.0K | · | |
| Paid-in Capital | $6.66B | $6.56B | $6.39B | $6.14B | $3.80B | $929M | · | |
| Retained Earnings | $-6.15B | $-5.84B | $-5.29B | $-4.40B | $-2.30B | $-468M | · | |
| AOCI | $2M | $-2M | $1M | $-3M | $-2M | $0 | · | |
| Stockholders' Equity | $509M | $716M | $1.10B | $1.74B | $1.57B | $470M | · | |
| Liabilities + Equity | $1.12B | $1.38B | $1.67B | $2.54B | $2.07B | $675M | · | |
| Shares Outstanding | 58,207,298 | 54,365,785,000 | 50,032,873 | 47,299,399 | 40,284,804 | 1,288,596,000 | · |
Cash Flow 16
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| D&A | $59M | $63M | $71M | $43M | $29M | $14M | $11M | |
| Stock-based Comp | $82M | $112M | $230M | $1.93B | $1.61B | $476.0K | $771.0K | |
| Deferred Tax | $-1M | $-936.0K | $-801.0K | $-15M | $0 | $0 | · | |
| Amort. of Intangibles | $19M | $18M | $16M | $6M | $1M | $500.0K | $500.0K | |
| Restructuring | $11M | $19M | · | · | · | · | · | |
| Operating Cash Flow | $-171M | $-320M | $-296M | $-252M | $-254M | $-136M | $-45M | |
| CapEx | $8M | $63M | $41M | $52M | $57M | $58M | $22M | |
| Investing Cash Flow | $-240M | $-62M | $-81M | $-67M | $-73M | $-67M | $-75M | |
| Stock Issued | $19M | $0 | $0 | · | · | · | · | |
| Stock Repurchased | · | · | · | · | · | · | $408.0K | |
| Net Stock Activity | $19M | · | · | · | · | · | · | |
| Financing Cash Flow | $18M | $-2M | $-3M | $95M | $1.53B | $90M | $410M | |
| Net Change in Cash | $-393M | $-384M | $-380M | $-223M | $1.21B | $-113M | $291M | |
| Taxes Paid | $192.0K | $0 | $23.0K | $981.0K | $9M | $0 | · | |
| Free Cash Flow | $-179M | $-382M | $-336M | $-304M | · | · | · | |
| Levered FCF | · | · | $-336M | $-305M | · | · | · |
Profitability 7
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Operating Margin | -185.3% | -246.5% | -343.8% | -462.4% | · | · | · | |
| Net Margin | -183.8% | -240.9% | -355.1% | -440.6% | · | · | · | |
| Pretax Margin | -184.3% | -241.2% | -355.1% | -444.1% | · | · | · | |
| EBITDA Margin | -185.3% | -246.5% | -343.8% | -462.4% | · | · | · | |
| ROA | -25.1% | -36.0% | -42.5% | -91.3% | · | · | · | |
| ROE | -55.8% | -72.3% | -76.0% | -132.4% | · | · | · | |
| ROIC | -61.8% | -78.1% | -78.8% | -126.3% | · | · | · |
Liquidity & Solvency 3
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Current Ratio | 4.9 | 5.6 | 6.1 | 8.4 | · | · | · | |
| Quick Ratio | 4.7 | 5.4 | 5.9 | 8.1 | · | · | · | |
| Interest Coverage | · | · | -9294.7 | -20839.2 | · | · | · |
Efficiency 2
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.1 | 0.1 | 0.1 | 0.2 | · | · | · | |
| Receivables Turnover | 7.4 | 11.6 | 5.1 | 4.5 | · | · | · |
Growth Rates 3
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Revenue YoY | -25.1% | -9.7% | -47.4% | 52.2% | 309.4% | · | · | |
| Revenue CAGR 3Y | -29.1% | -10.2% | 48.6% | · | · | · | · | |
| Revenue CAGR 5Y | 17.3% | · | · | · | · | · | · |
Valuation (TTM) 10
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $170M | $227M | $251M | $478M | $314M | · | · | |
| Net Income TTM | $-313M | $-547M | $-893M | $-2.10B | $-1.83B | · | · | |
| Market Cap | $484M | $534M | $135.29B | $127.90B | · | · | · | |
| P/E | -1.5 | -0.9 | -3.7 | -1.3 | -239.1 | · | · | |
| P/S | 2.8 | 2.4 | 538.0 | 267.7 | · | · | · | |
| P/B | 1.0 | 0.7 | 123.3 | 73.7 | · | · | · | |
| P / Tangible Book | 1.1 | 0.8 | 140.2 | 81.7 | 351.4 | · | · | |
| P / Cash Flow | -2.8 | -1.7 | -457.8 | -507.1 | · | · | · | |
| P / FCF | -2.7 | -1.4 | -402.3 | -420.1 | · | · | · | |
| Earnings Yield | -67.9% | -107.3% | -27.2% | -74.3% | -0.42% | · | · |
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 | $20M | $19M | $33M | $39M | $39M | $38M | $44M | $89M | $56M | $38M | $35M | $55M | $81M | $81M | $98M | $66M | |
| Cost of Revenue | $2M | $3M | · | · | $5M | $4M | · | · | · | · | · | · | · | · | · | · | |
| R&D Expense | $46M | $50M | $50M | $69M | $53M | $71M | $76M | $77M | $134M | $136M | $117M | $157M | $144M | $163M | $178M | $261M | |
| SG&A Expense | $31M | $38M | $46M | $45M | $35M | $40M | $57M | $52M | $66M | $70M | $89M | $82M | $102M | $111M | $121M | $435M | |
| Operating Expenses | $79M | $91M | $104M | $129M | $97M | $119M | $147M | $144M | $279M | $216M | $213M | $342M | $265M | $296M | $329M | $721M | |
| Operating Income | $-59M | $-71M | $-71M | $-90M | $-58M | $-81M | $-104M | $-55M | $-223M | $-178M | $-178M | $-286M | $-184M | $-216M | $-231M | $-655M | |
| Other Non-op | $1M | $-5M | $-11M | $9M | $5M | $-2M | $-4M | $-2M | $6M | $12M | $-34M | $-17M | $11M | $11M | $43M | $-15M | |
| Pretax Income | $-57M | $-76M | $-81M | $-81M | $-53M | $-83M | $-108M | $-57M | $-217M | $-166M | $-212M | $-303M | $-173M | $-205M | $-188M | $-670M | |
| Income Tax | $128.0K | $-80.0K | $-643.0K | $1.0K | $-283.0K | $88.0K | $-325.0K | $-375.0K | $190.0K | $31.0K | $-198.0K | $-22.0K | $67.0K | $82.0K | $-15M | $-28.0K | |
| Net Income | $-47M | $-83M | $-81M | $-81M | $-60M | $-91M | $-108M | $-56M | $-217M | $-166M | $-212M | $-303M | $-173M | $-205M | $-175M | $-670M | |
| EPS (Basic) | $-0.75 | $-1.39 | $-1.41 | $-1.45 | $-1.10 | $-1.68 | $-1.92 | $-1.08 | $-4.23 | $-3.31 | $-11.96 | $-6.21 | $-0.09 | $-0.11 | $-48.96 | $-0.41 | |
| EPS (Diluted) | · | · | $-1.41 | $-1.45 | $-1.10 | $-1.68 | $-1.91 | $-1.08 | $-4.23 | $-3.32 | $-11.96 | $-6.21 | $-0.09 | $-0.11 | $-49.01 | $-0.41 | |
| Shares (Basic) | 62,094,356 | 59,563,454 | -109,276,643 | 55,633,718 | 54,858,982 | 54,241,619 | -101,827,409 | 52,240,559 | 51,370,029 | 50,111,460 | -3,848,559,493 | 48,770,000 | 1,933,437,000 | 1,914,963,000 | -3,211,245,963 | 1,630,911,000 | |
| Shares (Diluted) | · | · | -109,276,643 | 55,633,718 | 54,858,982 | 54,241,619 | -101,860,455 | 52,246,129 | 51,375,599 | 50,133,366 | -3,850,233,493 | 48,770,000 | 1,933,437,000 | 1,916,637,000 | -3,211,226,528 | 1,630,911,000 | |
| EBITDA | $-59M | $-71M | · | $-90M | $-66M | $-89M | · | $-55M | $-223M | $-178M | · | $-286M | $-184M | $-216M | · | $-653M |
Balance Sheet 25
| 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 | $85M | $144M | $167M | $111M | $204M | $312M | $562M | $616M | $730M | $840M | $944M | $1.05B | $1.11B | $1.21B | $1.32B | $1.30B | |
| Short-term Investments | · | · | $255M | $384M | $356M | $13M | $0 | · | · | · | · | · | · | · | · | · | |
| Receivables | $13M | $20M | $24M | $21M | $22M | $26M | $22M | $23M | $19M | $24M | · | $62M | $68M | $83M | · | $114M | |
| Inventory | · | · | · | · | · | · | · | · | · | · | · | $70.0K | $391.0K | $3M | · | $6M | |
| Prepaid Expense | $17M | $16M | $25M | $22M | $26M | $20M | $19M | $22M | $34M | $38M | · | $29M | $48M | $34M | · | $38M | |
| Current Assets | $333M | $410M | $472M | $506M | $523M | $565M | $603M | $662M | $783M | $903M | · | $1.14B | $1.22B | $1.33B | · | $1.46B | |
| PP&E (Net) | $157M | $163M | $168M | $177M | $186M | $198M | $204M | $211M | $211M | $196M | · | $202M | $294M | $314M | · | $188M | |
| PP&E (Gross) | $355M | $352M | $358M | $359M | $360M | $361M | $365M | $362M | $347M | $326M | · | $322M | $413M | $421M | · | $271M | |
| Accum. Depreciation | $198M | $189M | $191M | $182M | $173M | $163M | $161M | $151M | $136M | $130M | · | $121M | $118M | $107M | · | $83M | |
| Goodwill | · | · | · | · | · | · | $0 | $0 | $0 | $48M | $49M | $58M | $59M | $59M | $60M | $29M | |
| Intangibles | $44M | $49M | $57M | $62M | $66M | $69M | $73M | $80M | $91M | $77M | · | $100M | $105M | $109M | · | $48M | |
| Other Non-current Assets | $1M | $40M | $47M | $47M | $47M | $47M | $55M | $60M | $60M | $61M | · | $97M | $98M | $97M | · | $44M | |
| Total Assets | $990M | $1.03B | $1.12B | $1.19B | $1.23B | $1.29B | $1.38B | $1.48B | $1.63B | $1.58B | · | $2.03B | $2.29B | $2.42B | · | $1.87B | |
| Accounts Payable | $10M | $16M | $11M | $11M | $11M | $11M | $14M | $16M | $23M | $27M | · | $11M | $14M | $22M | · | $11M | |
| Current Liabilities | $73M | $80M | $96M | $115M | $97M | $116M | $107M | $114M | $166M | $169M | · | $168M | $163M | $192M | · | $125M | |
| Capital Leases | $404M | $411M | $417M | $423M | $429M | $435M | $439M | $446M | $452M | $234M | · | $404M | $411M | $404M | · | · | |
| Other Non-current Liabilities | $16M | $22M | $23M | $17M | $18M | $15M | $17M | $18M | $21M | $25M | · | $19M | $20M | $29M | · | $35M | |
| Total Liabilities | $570M | $590M | $611M | $629M | $618M | $646M | $661M | $683M | $792M | $594M | · | $774M | $788M | $810M | · | $431M | |
| Common Stock | $6.0K | $6.0K | $6.0K | $6.0K | $6.0K | $5.0K | $5.0K | $5.0K | $206.0K | $202.0K | · | $198.0K | $196.0K | $194.0K | · | $165.0K | |
| Paid-in Capital | $6.70B | $6.67B | $6.66B | $6.63B | $6.60B | $6.58B | $6.56B | $6.53B | $6.51B | $6.45B | · | $6.33B | $6.28B | $6.21B | · | $5.67B | |
| Retained Earnings | $-6.28B | $-6.23B | $-6.15B | $-6.07B | $-5.99B | $-5.93B | $-5.84B | $-5.73B | $-5.67B | $-5.46B | · | $-5.08B | $-4.78B | $-4.60B | · | $-4.23B | |
| AOCI | $950.0K | $1M | $2M | $2M | $2M | $-850.0K | $-2M | $263.0K | $-2M | $-2M | · | $-3M | $-1M | $-2M | · | $-8M | |
| Stockholders' Equity | $420M | $443M | $509M | $560M | $613M | $647M | $716M | $798M | $833M | $987M | $1.10B | $1.25B | $1.50B | $1.61B | $1.74B | $1.43B | |
| Liabilities + Equity | $990M | $1.03B | $1.12B | $1.19B | $1.23B | $1.29B | $1.38B | $1.48B | $1.63B | $1.58B | · | $2.03B | $2.29B | $2.42B | · | $1.87B | |
| Shares Outstanding | 63,711,102 | 61,660,788 | 58,207,298 | 56,836,246 | 55,425,334 | 54,698,246 | 54,365,785 | 53,082,000 | 2,078,737,000 | 2,033,624,000 | 50,032,873 | 1,972,725,000 | 1,954,704,000 | 1,933,880,000 | 47,299,399 | 1,648,263,224 |
Cash Flow 12
| 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 | $12M | $13M | $14M | $14M | $16M | $15M | $16M | $17M | $17M | $13M | $13M | $21M | $18M | $19M | $16M | $8M | |
| Stock-based Comp | $8M | $16M | $21M | $18M | $22M | $17M | $21M | $14M | $37M | $41M | $43M | $53M | $61M | $73M | $108M | $563M | |
| Amort. of Intangibles | $4M | $4M | $5M | $5M | $4M | $4M | $5M | $5M | $5M | $3M | $3M | $4M | $4M | $4M | $3M | $1M | |
| Restructuring | · | · | $706.0K | $2M | $4M | · | $-666.0K | $3M | $12M | · | · | $0 | $0 | · | · | · | |
| Operating Cash Flow | $-44M | $-47M | $-48M | $-32M | $-40M | $-52M | $-42M | $-104M | $-84M | $-89M | $-58M | $-74M | $-74M | $-91M | $-105M | $-28M | |
| CapEx | $3M | $2M | $5.0K | $0 | $38.0K | $8M | $14M | $15M | $27M | $7M | $3M | $4M | $14M | $19M | $26M | $13M | |
| Investing Cash Flow | $11M | $23M | $95M | $-73M | $-64M | $-199M | $-13M | $-10M | $-27M | $-12M | $-47M | $-3M | $-11M | $-19M | $30M | $-46M | |
| Stock Issued | · | · | $9M | $10M | · | · | $0 | · | · | · | · | · | · | · | · | · | |
| Financing Cash Flow | $16M | $-19.0K | $8M | $10M | $-98.0K | $-207.0K | $-203.0K | $-465.0K | $-226.0K | $-845.0K | $-632.0K | $-315.0K | $-1M | $-888.0K | $98M | $-280.0K | |
| Net Change in Cash | $-17M | $-24M | $55M | $-94M | $-104M | $-250M | $-56M | $-114M | $-111M | $-102M | $-105M | $-77M | $-87M | $-111M | $24M | $-75M | |
| Taxes Paid | · | · | · | · | · | · | · | · | · | · | · | · | · | $0 | $0 | $0 | |
| Free Cash Flow | · | $-49M | · | · | · | $-59M | · | · | · | $-96M | · | · | · | $-110M | · | · |
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 | -290.5% | -366.5% | · | -231.8% | -132.1% | -184.1% | · | -62.0% | -396.7% | -469.1% | · | -516.7% | -228.6% | -267.3% | · | -983.5% | |
| Net Margin | -231.7% | -424.1% | · | -207.9% | -121.6% | -188.2% | · | -63.3% | -386.4% | -437.2% | · | -546.4% | -215.1% | -254.0% | · | -1007.6% | |
| Pretax Margin | -283.8% | -391.0% | · | -207.9% | -122.1% | -188.1% | · | -63.8% | -386.1% | -437.2% | · | -546.5% | -215.0% | -253.9% | · | -1007.7% | |
| EBITDA Margin | -290.5% | -366.5% | · | -231.8% | -132.1% | -184.1% | · | -62.0% | -396.7% | -469.1% | · | -516.7% | -228.6% | -267.3% | · | -983.5% | |
| ROA | -4.2% | -7.1% | · | -6.0% | -4.2% | -6.3% | · | -3.2% | -11.1% | -8.3% | · | -15.5% | -8.1% | -9.2% | · | -33.3% | |
| ROE | -9.0% | -15.2% | · | -11.9% | -8.3% | -11.1% | · | -5.5% | -18.6% | -12.8% | · | -22.5% | -11.4% | -12.9% | · | -44.8% | |
| ROIC | -14.0% | -16.1% | · | -16.1% | -10.6% | -13.8% | · | -6.9% | -26.8% | -18.0% | · | -22.9% | -12.2% | -13.4% | · | -45.5% |
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 | 4.6 | 5.2 | · | 4.4 | 5.4 | 4.9 | · | 5.8 | 4.7 | 5.3 | · | 6.8 | 7.5 | 6.9 | · | 11.7 | |
| Quick Ratio | 1.3 | 2.1 | · | 4.5 | 6.0 | 3.0 | · | 5.6 | 4.5 | 5.1 | · | 6.6 | 7.2 | 6.7 | · | 11.3 |
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 | · | 0.1 | 0.0 | 0.0 | · | 0.0 | 0.0 | 0.0 | · | 0.0 | |
| Receivables Turnover | 1.1 | 0.8 | · | 1.7 | 2.4 | 1.9 | · | 2.1 | 1.3 | 0.7 | · | 0.6 | 0.7 | 0.6 | · | 0.8 |
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 | $118M | $146M | · | $226M | $243M | $232M | · | $239M | $230M | $255M | · | $283M | $372M | $460M | · | $457M | |
| Net Income TTM | $-270M | $-315M | · | $-288M | $-425M | $-530M | · | $-742M | $-859M | $-847M | · | $-1.35B | $-1.72B | $-2.13B | · | $-2.03B | |
| Market Cap | $631M | $378M | · | $829M | $624M | $312M | · | $433M | $27.77B | $94.36B | · | $142.83B | $145.43B | $102.88B | · | $205.70B | |
| P/E | -1.9 | -1.2 | · | -2.7 | -1.4 | -0.6 | · | -0.5 | -1.0 | -4.8 | · | -10.6 | -72.9 | -40.9 | · | -98.3 | |
| P/S | 5.4 | 2.6 | · | 3.7 | 2.6 | 1.3 | · | 1.8 | 120.7 | 370.6 | · | 504.5 | 390.6 | 223.6 | · | 450.1 | |
| P/B | 1.5 | 0.9 | · | 1.5 | 1.0 | 0.5 | · | 0.5 | 33.3 | 95.6 | · | 114.0 | 96.7 | 64.0 | · | 143.4 | |
| P / Tangible Book | 1.7 | 1.0 | · | 1.7 | 1.1 | 0.5 | · | 0.6 | 37.4 | 109.5 | · | 130.5 | 108.6 | 71.4 | · | 151.5 | |
| P / Cash Flow | · | -8.1 | · | · | · | -6.1 | · | · | · | -1057.2 | · | · | · | -1135.8 | · | · | |
| P / FCF | · | -7.8 | · | · | · | -5.3 | · | · | · | -983.2 | · | · | · | -935.1 | · | · | |
| Earnings Yield | -53.6% | -86.6% | · | -36.4% | -71.9% | -180.9% | · | -182.1% | -103.7% | -21.0% | · | -9.4% | -1.4% | -2.4% | · | -1.0% |
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 | $170M | $227M | $251M | $478M | $314M |
| Operating Margin % | -185.3% | -246.5% | -343.8% | -462.4% | — |
| Net Income | $-313M | $-547M | $-893M | $-2.10B | $-1.83B |
| Diluted EPS | $-5.64 | $-10.54 | $-18.37 | $-50.20 | $-1.39 |
Balance Sheet
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Current Ratio | 4.9 | 5.6 | 6.1 | 8.4 | — |
| Quick Ratio | 4.7 | 5.4 | 5.9 | 8.1 | — |
Cash Flow
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Free Cash Flow | $-179M | $-382M | $-336M | $-304M | — |
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Institutional owners (13F) 205 filers · $269.5M 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 |
|---|---|---|---|---|
| 39 (+13 vs prior Q) | 17 (-11 vs prior Q) | 65 (+23 vs prior Q) | 35 (-12 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 |
|---|---|---|---|---|
| VIKING GLOBAL INVESTORS LP | $35,449,338 | 3,577,128 | 13.16% | Shares |
| Erste Asset Management GmbH | $25,902,147 | 2,536,939 | 9.61% | Shares |
| BAILLIE GIFFORD & CO | $23,701,242 | 2,391,649 | 8.80% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $20,685,074 | 2,087,293 | 7.68% | Shares |
| Anchorage Capital Group, L.L.C. | $17,306,457 | 1,746,363 | 6.42% | Shares |
| STATE STREET CORP | $14,591,187 | 1,472,370 | 5.41% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $10,292,812 | 1,038,369 | 3.82% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $9,293,628 | 937,803 | 3.45% | Shares |
| Allianz Asset Management GmbH | $7,787,258 | 785,798 | 2.89% | Shares |
| MILLENNIUM MANAGEMENT LLC | $6,329,279 | 638,676 | 2.35% | Shares |
| SB INVESTMENT ADVISERS (UK) LTD | $6,052,324 | 610,729 | 2.25% | Shares |
| Prescott Group Capital Management, L.L.C. | $5,369,684 | 541,845 | 1.99% | Shares |
| GOLDMAN SACHS GROUP INC | $5,364,154 | 541,287 | 1.99% | Shares |
| RENAISSANCE TECHNOLOGIES LLC | $5,349,973 | 539,856 | 1.99% | Shares |
| BANK OF AMERICA CORP /DE/ | $4,760,754 | 480,399 | 1.77% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $4,109,677 | 414,700 | 1.53% | Call option |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $3,910,555 | 394,607 | 1.45% | Shares |
| EXCHANGE TRADED CONCEPTS, LLC | $3,555,540 | 358,783 | 1.32% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $3,480,392 | 351,200 | 1.29% | Shares |
| TUDOR INVESTMENT CORP ET AL | $3,326,886 | 335,710 | 1.23% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $3,097,598 | 312,573 | 1.15% | Shares |
| Coastal Bridge Advisors, LLC | $2,743,256 | 276,817 | 1.02% | Shares |
| BALANCE CAPITAL PARTNERS L.P. | $1,972,179 | 199,009 | 0.73% | Shares |
| ALGERT GLOBAL LLC | $1,784,395 | 180,060 | 0.66% | Shares |
| Susquehanna Portfolio Strategies, LLC | $1,746,449 | 176,231 | 0.65% | Shares |
| BNP PARIBAS FINANCIAL MARKETS | $1,637,935 | 165,281 | 0.61% | Shares |
| PEAK6 LLC | $1,619,294 | 163,400 | 0.60% | Call option |
| CAXTON ASSOCIATES LLP | $1,532,552 | 154,647 | 0.57% | Shares |
| D. E. Shaw & Co., Inc. | $1,499,938 | 151,356 | 0.56% | Shares |
| Universal- Beteiligungs- und Servicegesellschaft mbH | $1,387,400 | 140,000 | 0.51% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $1,297,219 | 130,900 | 0.48% | Put option |
| CITADEL ADVISORS LLC | $1,233,973 | 124,518 | 0.46% | Shares |
| JPMORGAN CHASE & CO | $1,154,383 | 113,064 | 0.43% | Shares |
| a16z Capital Management, L.L.C. | $1,075,909 | 108,568 | 0.40% | Shares |
| CITADEL ADVISORS LLC | $1,073,253 | 108,300 | 0.40% | Call option |
| Numerai GP LLC | $1,036,606 | 104,602 | 0.38% | Shares |
| AMERICAN CENTURY COMPANIES INC | $974,718 | 98,357 | 0.36% | Shares |
| WOLVERINE TRADING, LLC | $964,467 | 72,900 | 0.36% | Call option |
| Ensign Peak Advisors, Inc | $931,332 | 93,979 | 0.35% | Shares |
| Bank of New York Mellon Corp | $818,843 | 82,628 | 0.30% | Shares |
| PANAGORA ASSET MANAGEMENT INC | $803,592 | 81,089 | 0.30% | Shares |
| MARSHALL WACE, LLP | $772,356 | 77,937 | 0.29% | Shares |
| Swiss National Bank | $744,865 | 75,163 | 0.28% | Shares |
| ALLSTATE CORP | $698,209 | 70,455 | 0.26% | Shares |
| Mariner, LLC | $667,488 | 67,359 | 0.25% | Shares |
| IEQ CAPITAL, LLC | $624,766 | 63,044 | 0.23% | Shares |
| ALLEN OPERATIONS LLC | $613,935 | 61,951 | 0.23% | Shares |
| RHUMBLINE ADVISERS | $610,615 | 61,617 | 0.23% | Shares |
| JACOBS LEVY EQUITY MANAGEMENT, INC | $609,079 | 61,461 | 0.23% | Shares |
| TWO SIGMA INVESTMENTS, LP | $599,099 | 60,454 | 0.22% | Shares |
| BROWN ADVISORY INC | $586,731 | 59,206 | 0.22% | Shares |
| BlackRock, Inc. | $526,895 | 53,168 | 0.20% | Shares |
| Inspire Investing, LLC | $514,338 | 83,905 | 0.19% | Shares |
| EDGEWOOD MANAGEMENT LLC | $495,500 | 50,000 | 0.18% | Shares |
| WOLVERINE TRADING, LLC | $492,156 | 37,200 | 0.18% | Put option |
| Quadrature Capital Ltd | $456,732 | 46,088 | 0.17% | Shares |
| MORGAN STANLEY | $447,427 | 45,149 | 0.17% | Shares |
| Shay Capital LLC | $444,384 | 44,842 | 0.16% | Shares |
| LPL Financial LLC | $427,257 | 43,114 | 0.16% | Shares |
| CITIGROUP INC | $426,893 | 43,077 | 0.16% | Shares |
| JANE STREET GROUP, LLC | $414,238 | 41,800 | 0.15% | Call option |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ | $387,709 | 39,123 | 0.14% | Shares |
| Casdin Capital, LLC | $361,646 | 36,493 | 0.13% | Shares |
| CITADEL ADVISORS LLC | $347,841 | 35,100 | 0.13% | Put option |
| Dynamic Technology Lab Private Ltd | $347,000 | 34,996 | 0.13% | Shares |
| ALLIANCEBERNSTEIN L.P. | $342,005 | 55,792 | 0.13% | Shares |
| GROUP ONE TRADING LLC | $326,138 | 32,910 | 0.12% | Shares |
| AlphaQuest LLC | $309,788 | 37,279 | 0.11% | Shares |
| Mitsubishi UFJ Asset Management Co., Ltd. | $301,532 | 30,427 | 0.11% | Shares |
| Welch & Forbes LLC | $297,300 | 30,000 | 0.11% | Shares |
| MetLife Investment Management, LLC | $285,111 | 28,770 | 0.11% | Shares |
| AXQ CAPITAL, LP | $262,387 | 26,477 | 0.10% | Shares |
| BARCLAYS PLC | $258,919 | 26,127 | 0.10% | Shares |
| IMC-Chicago, LLC | $240,922 | 24,311 | 0.09% | Shares |
| Man Group plc | $239,901 | 24,208 | 0.09% | Shares |
| VANGUARD ASSET MANAGEMENT, Ltd | $238,425 | 24,059 | 0.09% | Shares |
| CANADA PENSION PLAN INVESTMENT BOARD | $222,975 | 22,500 | 0.08% | Shares |
| Russell Investments Group, Ltd. | $222,885 | 22,491 | 0.08% | Shares |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. | $217,356 | 21,933 | 0.08% | Shares |
| Modera Wealth Management, LLC | $216,316 | 21,828 | 0.08% | Shares |
| MARTINGALE ASSET MANAGEMENT L P | $209,062 | 21,096 | 0.08% | Shares |
| WEALTH ENHANCEMENT ADVISORY SERVICES, LLC | $203,116 | 22,345 | 0.08% | Shares |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM | $189,123 | 30,852 | 0.07% | Shares |
| Walleye Capital LLC | $188,944 | 19,066 | 0.07% | Shares |
| Invesco Ltd. | $186,209 | 18,790 | 0.07% | Shares |
| Trexquant Investment LP | $178,420 | 18,004 | 0.07% | Shares |
| SIMPLEX TRADING, LLC | $178,330 | 17,995 | 0.07% | Shares |
| Comprehensive Financial Management LLC | $174,971 | 17,656 | 0.06% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $172,474 | 17,404 | 0.06% | Shares |
| Boston Standard Wealth Management, LLC | $164,995 | 15,165 | 0.06% | Shares |
| DEUTSCHE BANK AG\ | $163,763 | 16,525 | 0.06% | Shares |
| Creative Planning | $156,974 | 15,840 | 0.06% | Shares |
| Vanguard Global Advisers, LLC | $155,904 | 15,732 | 0.06% | Shares |
| Squarepoint Ops LLC | $155,478 | 15,689 | 0.06% | Shares |
| MERCER GLOBAL ADVISORS INC /ADV | $153,664 | 15,506 | 0.06% | Shares |
| ExodusPoint Capital Management, LP | $148,343 | 14,969 | 0.06% | Shares |
| Police & Firemen's Retirement System of New Jersey | $146,420 | 14,775 | 0.05% | Shares |
| Entropy Technologies, LP | $138,423 | 13,968 | 0.05% | Shares |
| Green Alpha Advisors, LLC | $134,241 | 13,546 | 0.05% | Shares |
| VANGUARD GROUP INC | $130,733 | 15,732 | 0.05% | Shares |
Company insiders 17 insiders · 5 officers · 13 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Jason R Kelly | Chief Executive Officer & Founder | July 28, 2026 A | 3,894,680 | 0 | 0 | $0 |
| Steven P. Coen | Chief Financial Officer | July 16, 2026 M | 51,438 | 0 | 1 | $-5,941 |
| Mark E. Dmytruk | Chief Financial Officer | May 20, 2025 M | 46,226 | 0 | 0 | $0 |
| Reshma P. Shetty | President & Founder | July 28, 2026 A | 12,374,544 | 0 | 0 | $0 |
| Marie E. Fallon | Chief Accounting Officer | May 1, 2023 M | 183,010 | 0 | 0 | $0 |
| Sri Kosuri | Director | June 11, 2026 A | 24,067 | 0 | 0 | $0 |
| Ross Fubini | Director | June 11, 2026 A | 10,822 | 0 | 0 | $0 |
| Christian O Henry | Director | June 11, 2026 A | 24,310 | 0 | 2 | $-219,800 |
| Harry Sloan | Director | June 11, 2026 A | 271,418 | 0 | 0 | $0 |
| Shyam Sankar | Director | June 12, 2025 A | 72,372 | 0 | 0 | $0 |
| Kathy Hopinkah Hannan | Director | June 11, 2025 M | 15,003 | 0 | 0 | $0 |
| Myrtle S Potter | Director | June 11, 2025 M | 10,822 | 0 | 0 | $0 |
| Arie Belldegrun | Director | June 13, 2024 A | 194,925 | 0 | 0 | $0 |
| Reshma Kewalramani | Director | June 12, 2024 M | 186,002 | 0 | 0 | $0 |
| Marijn E Dekkers | Director | June 12, 2024 M | 386,480 | 0 | 0 | $0 |
| Eagle Equity Partners III, LLC | Director | Sept. 16, 2021 D | 31,590,948 | 0 | 0 | $0 |
| Barry Canton | 10% owner | July 28, 2026 A | 12,374,544 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
Activists & 5%+ owners 4 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 |
|---|---|---|---|---|---|
| Reshma P. Shetty, Barry Canton | Feb. 14, 2025 | 9.50% | Amendment | — | SEC |
| Jason Kelly ×4 filings | Feb. 14, 2024 | — | Initial filing | — | SEC |
| Reshma Shetty, Bartholomew Canton ×4 filings | Feb. 14, 2024 | — | Initial filing | — | SEC |
| VIKING GLOBAL INVESTORS LP, VIKING GLOBAL OPPORTUNITIES PARENT GP LLC, VIKING GLOBAL OPPORTUNITIES GP LLC, VIKING GLOBAL OPPORTUNITIES PORTFOLIO GP LLC, VIKING GLOBAL OPPORTUNITIES ILLIQUID INVESTMENTS SUB-MASTER LP, O. ANDREAS HALVORSEN, DAVID C. OTT, ROSE S. SHABET ×3 filings | March 4, 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 33 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 |
|---|---|---|---|---|
| THNQ · EXCHANGE TRADED CONCEPTS TRUST | 0.84% | 321,721 NS | April 30, 2026 | N-PORT |
| IDNA · iShares Trust | 0.44% | 101,324 SH | Aug. 8, 2026 | Daily |
| IWC · iShares Trust | 0.09% | 161,981 SH | Aug. 8, 2026 | Daily |
| PRFZ · Invesco Exchange-Traded Fund Trust | 0.05% | 187,206 SH | Aug. 8, 2026 | Daily |
| IBB · iShares Trust | 0.03% | 368,167 SH | Aug. 8, 2026 | Daily |
| AVSC · AMERICAN CENTURY ETF TRUST | 0.03% | 91,425 NS | May 31, 2026 | N-PORT |
| VTWV · VANGUARD SCOTTSDALE FUNDS | 0.03% | 41,498 SH | Aug. 8, 2026 | Daily |
| IWN · iShares Trust | 0.03% | 442,118 SH | Aug. 8, 2026 | Daily |
| IWM · iShares Trust | 0.01% | 1,226,249 SH | Aug. 8, 2026 | Daily |
| RSSL · Global X Funds | 0.01% | 18,139 NS | April 30, 2026 | N-PORT |
| VXF · VANGUARD INDEX FUNDS | 0.01% | 549,889 SH | Aug. 8, 2026 | Daily |
| VTWO · VANGUARD SCOTTSDALE FUNDS | 0.01% | 274,008 SH | Aug. 8, 2026 | Daily |
| ITWO · ProShares Trust | 0.01% | 2,005 NS | May 31, 2026 | N-PORT |
| VHT · VANGUARD WORLD FUND | 0.01% | 112,735 SH | Aug. 8, 2026 | Daily |
| SCHA · SCHWAB STRATEGIC TRUST | 0.01% | 210,534 NS | May 31, 2026 | N-PORT |
| UWM · ProShares Trust | 0.01% | 1,567 NS | May 31, 2026 | N-PORT |
| FHLC · FIDELITY COVINGTON TRUST | 0.01% | 16,982 NS | April 30, 2026 | N-PORT |
| URTY · ProShares Trust | 0.00% | 1,584 NS | May 31, 2026 | N-PORT |
| MSSM · MORGAN STANLEY PATHWAY FUNDS | 0.00% | 2,081 NS | May 31, 2026 | N-PORT |
| DFSU · Dimensional ETF Trust | 0.00% | 4,528 NS | April 30, 2026 | N-PORT |
| HDG · ProShares Trust | 0.00% | 40 NS | May 31, 2026 | N-PORT |
| VEGN · ETF Series Solutions | 0.00% | 252 NS | April 30, 2026 | N-PORT |
| DFAS · Dimensional ETF Trust | 0.00% | 19,123 NS | April 30, 2026 | N-PORT |
| IWV · iShares Trust | 0.00% | 22,130 SH | Aug. 8, 2026 | Daily |
| ITOT · iShares Trust | 0.00% | 66,432 SH | Aug. 8, 2026 | Daily |
| SCHB · SCHWAB STRATEGIC TRUST | 0.00% | 26,477 NS | May 31, 2026 | N-PORT |
| DFUS · Dimensional ETF Trust | 0.00% | 3,795 NS | April 30, 2026 | N-PORT |
| DCOR · Dimensional ETF Trust | 0.00% | 584 NS | April 30, 2026 | N-PORT |
| DFAU · Dimensional ETF Trust | 0.00% | 1,182 NS | April 30, 2026 | N-PORT |
| VTI · VANGUARD INDEX FUNDS | 0.00% | 1,489,851 SH | Aug. 8, 2026 | Daily |
| VTHR · VANGUARD SCOTTSDALE FUNDS | 0.00% | 3,264 SH | Aug. 8, 2026 | Daily |
| AVUS · AMERICAN CENTURY ETF TRUST | 0.00% | 504 NS | May 31, 2026 | N-PORT |
| DFAC · Dimensional ETF Trust | 0.00% | 1,232 NS | April 30, 2026 | N-PORT |