DUOL Duolingo, Inc. - Class A Common Stock
$137.48
Price · Aug 18, 2026
Fundamentals as of Aug 6, 2026
52W Range
$88–$368
18% of range
Analyst Rating
HOLD
31 analysts
Price Target
$125
P/E (TTM)
16.0
ROE
35.6%
Net Profit Margin
39.9%
DUOL Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$137.48
Market Cap
$6.41B
P/E (TTM)
16.0
EPS (TTM)
$8.57
Revenue (TTM)
$1.04B
Div Yield
—
ROE
35.6%
Debt/Equity
—
52W Range
$88 – $368
DUOL 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
$1.04B
2020-12-31
→
2025-12-31
EPS
$8.57
2020-12-31
→
2025-12-31
Free Cash Flow
$370M
2021-12-31
→
2025-12-31
Margins
39.9%
2021-12-31
→
2025-12-31
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Metric
5Y trend
DUOL
Peer Median
P/E (TTM)
16.0
19.1
P/S (TTM)
6.2
1.1
P/B
4.8
2.3
Price / FCF
17.3
—
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Metric
5Y trend
DUOL
Peer Median
Gross Margin
72.2%
60.3%
Operating Margin
13.1%
—
Net Profit Margin
39.9%
-5.6%
ROA
25.1%
-11.0%
ROE
35.6%
-17.7%
ROIC
22.9%
—
Financial Health Debt, liquidity, solvency — balance sheet strength
Metric
5Y trend
DUOL
Peer Median
Current Ratio
2.6
1.7
Quick Ratio
2.2
—
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Metric
5Y trend
DUOL
Peer Median
Revenue YoY
38.7%
—
Revenue CAGR 3Y
41.1%
—
Revenue CAGR 5Y
45.0%
—
EPS YoY
355.9%
—
Net Income YoY
367.5%
—
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
Metric
5Y trend
DUOL
Peer Median
DUOL Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
HOLD
31 analysts
- Strong Buy 3 9.7%
- Buy 6 19.4%
- Hold 21 67.7%
- Sell 1 3.2%
- Strong Sell 0 0.0%
12-Month Price Target
18 analysts · 2026-08-17
Median
$125.00
Now
$137.48
Low
$80.00
High
$163.00
Median target
$125.00
-9.1%
Mean target
$124.79
-9.2%
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
0.98%
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| June 30, 2026 | $0.66 | $0.61 | 0.05% |
| March 31, 2026 | $0.89 | $0.76 | 0.13% |
| Dec. 31, 2025 | $0.89 | $0.84 | 0.05% |
| Sept. 30, 2025 | $5.95 | $0.78 | 5.2% |
| June 30, 2025 | $0.91 | $0.59 | 0.32% |
| March 31, 2025 | $0.72 | $0.53 | 0.20% |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| DUOL | $8.18B | 20.5 | 38.7% | 39.9% | 35.6% | 72.2% |
| LAUR | $4.81B | 17.8 | 8.6% | 16.6% | 26.2% | — |
| GHC | — | 16.5 | 2.5% | 5.9% | 6.5% | — |
| CVSA | $4.24B | 17.7 | 9.3% | 12.9% | 17.8% | — |
| LOPE | $4.56B | 21.6 | 7.1% | 19.5% | 28.3% | — |
| BFAM | $5.64B | 30.2 | 9.2% | 6.6% | 14.1% | 23.8% |
| LRN | $3.58B | 12.1 | 4.7% | 13.4% | 21.3% | 37.8% |
| MH | $2.62B | 72.1 | 0.07% | 1.7% | 4.6% | 80.9% |
| PRDO | $1.83B | 12.1 | 24.2% | 18.9% | 16.3% | — |
| STRA | $1.84B | 14.8 | 4.0% | 10.0% | 7.6% | — |
| UTI | $1.77B | 28.8 | 14.1% | 7.5% | 20.3% | — |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement 17
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Revenue | $1.04B | $748M | $531M | $369M | $251M | $162M | |
| Cost of Revenue | $288M | $204M | $142M | $99M | $69M | $46M | |
| Gross Profit | $749M | $544M | $389M | $270M | $182M | $116M | |
| R&D Expense | $306M | $235M | $194M | $150M | $104M | $53M | |
| SG&A Expense | $182M | $156M | $132M | $118M | $79M | $44M | |
| Operating Expenses | $614M | $482M | $402M | $335M | $242M | $132M | |
| Operating Income | $136M | $63M | $-13M | $-65M | $-60M | $-16M | |
| Interest Income | $45M | $43M | $31M | $7M | $19.0K | $231.0K | |
| Other Non-op | $2M | $-3M | $-55.0K | $-676.0K | $30.0K | $72.0K | |
| Pretax Income | $182M | $102M | $18M | $-59M | $-60M | $-16M | |
| Income Tax | $-232M | $14M | $2M | $938.0K | $177.0K | $68.0K | |
| Net Income | $414M | $89M | $16M | $-60M | $-60M | $-16M | |
| EPS (Basic) | $9.05 | $2.04 | $0.39 | $-1.51 | $-2.57 | $-1.24 | |
| EPS (Diluted) | $8.57 | $1.88 | $0.35 | $-1.51 | $-2.57 | $-1.24 | |
| Shares (Basic) | · | · | · | 39,470,000 | 23,433,000 | 12,735,000 | |
| Shares (Diluted) | 48,308,000 | 47,101,000 | 46,522,000 | 39,470,000 | 23,433,000 | 12,735,000 | |
| EBITDA | $150M | $73M | $-6M | $-60M | $-57M | · |
Balance Sheet 25
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $1.04B | $786M | $748M | $608M | $554M | $120M | |
| Receivables | $163M | $129M | $89M | $47M | $33M | $20M | |
| Prepaid Expense | $17M | $15M | $7M | $7M | $8M | $4M | |
| Current Assets | $1.44B | $1.10B | $898M | $697M | $619M | $158M | |
| PP&E (Net) | $36M | $19M | $12M | $13M | $8M | $6M | |
| PP&E (Gross) | $58M | $35M | $24M | $21M | $13M | $9M | |
| Accum. Depreciation | $22M | $16M | $12M | $8M | $5M | $3M | |
| Goodwill | $35M | $11M | $4M | $4M | $0 | · | |
| Intangibles | $28M | $20M | $16M | $8M | $5M | · | |
| Other Non-current Assets | $10M | $2M | $2M | $2M | $894.0K | $562.0K | |
| Total Assets | $1.99B | $1.30B | $954M | $747M | $661M | $176M | |
| Accounts Payable | $8M | $6M | $2M | $1M | $8M | $2M | |
| Accrued Liabilities | $46M | $36M | $25M | $22M | $13M | $9M | |
| Current Liabilities | $551M | $422M | $277M | $182M | $119M | $66M | |
| Capital Leases | $94M | $55M | $21M | $24M | $29M | $8M | |
| Deferred Tax | $249.0K | $291.0K | $0 | · | · | · | |
| Other Non-current Liabilities | $0 | · | · | · | · | · | |
| Total Liabilities | $645M | $477M | $298M | $205M | $148M | $74M | |
| Common Stock | $5.0K | $4.0K | $4.0K | $4.0K | $4.0K | $1.0K | |
| Paid-in Capital | $1.06B | $950M | $870M | $773M | $684M | $30M | |
| Retained Earnings | $288M | $-126M | $-214M | $-230M | $-171M | $-111M | |
| Treasury Stock | $0 | · | · | · | · | · | |
| Stockholders' Equity | $1.35B | $825M | $656M | $542M | $513M | $-81M | |
| Liabilities + Equity | $1.99B | $1.30B | $954M | $747M | $661M | $176M | |
| Shares Outstanding | 46,628,000 | 44,936,000 | 42,526,000 | 40,361,000 | 38,272,000 | 12,794,000 |
Cash Flow 13
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| D&A | $14M | $11M | $7M | $5M | $3M | $2M | |
| Stock-based Comp | $137M | $110M | $95M | $74M | $41M | $17M | |
| Deferred Tax | $-227M | $157.0K | $-133.0K | $-215.0K | $0 | $0 | |
| Other Non-cash | $49M | $75M | $35M | $35M | $26M | · | |
| Operating Cash Flow | $388M | $286M | $154M | $54M | $9M | $18M | |
| CapEx | $18M | $12M | $3M | $6M | $4M | $3M | |
| Investing Cash Flow | $-108M | $-217M | $-14M | $-14M | $-6M | $-4M | |
| Stock Repurchased | · | · | $0 | $0 | $868.0K | $0 | |
| Net Stock Activity | · | · | $0 | $0 | $-868.0K | · | |
| Financing Cash Flow | $-30M | $-30M | $2M | $15M | $430M | $47M | |
| Net Change in Cash | $251M | $38M | $142M | $54M | $433M | $61M | |
| Taxes Paid | $14M | $8M | $2M | $615.0K | $132.0K | $0 | |
| Free Cash Flow | $370M | $273M | $150M | $48M | $6M | · |
Profitability 8
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Gross Margin | 72.2% | 72.8% | 73.2% | 73.1% | 72.4% | · | |
| Operating Margin | 13.1% | 8.4% | -2.5% | -17.6% | -23.9% | · | |
| Net Margin | 39.9% | 11.8% | 3.0% | -16.1% | -24.0% | · | |
| Pretax Margin | 17.6% | 13.7% | 3.4% | -15.9% | -23.9% | · | |
| EBITDA Margin | 14.4% | 9.8% | -1.2% | -16.3% | -22.8% | · | |
| ROA | 25.1% | 7.8% | 1.9% | -8.5% | -14.4% | · | |
| ROE | 35.6% | 10.8% | 2.5% | -11.1% | -11.8% | · | |
| ROIC | 22.9% | 6.6% | -1.8% | -12.2% | -11.7% | · |
Liquidity & Solvency 2
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Current Ratio | 2.6 | 2.6 | 3.2 | 3.8 | 5.2 | · | |
| Quick Ratio | 2.2 | 2.2 | 3.0 | 3.6 | 4.9 | · |
Efficiency 2
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.6 | 0.7 | 0.6 | 0.5 | 0.6 | · | |
| Receivables Turnover | 7.1 | 6.9 | 7.8 | 9.2 | 9.4 | · |
Growth Rates 5
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Revenue YoY | 38.7% | 40.8% | 43.7% | 47.3% | 55.1% | · | |
| Revenue CAGR 3Y | 41.1% | 44.0% | 48.6% | · | · | · | |
| Revenue CAGR 5Y | 45.0% | · | · | · | · | · | |
| EPS YoY | 355.9% | 437.1% | · | · | · | · | |
| Net Income YoY | 367.5% | 451.3% | · | · | · | · |
Valuation (TTM) 10
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Revenue TTM | $1.04B | $748M | $531M | $369M | $251M | · | |
| Net Income TTM | $414M | $89M | $16M | $-60M | $-60M | · | |
| Market Cap | $8.18B | $14.57B | $9.65B | · | · | · | |
| P/E | 20.5 | 172.5 | 648.1 | -47.1 | -41.3 | · | |
| P/S | 7.9 | 19.5 | 18.2 | · | · | · | |
| P/B | 6.1 | 17.7 | 14.7 | · | · | · | |
| P / Tangible Book | 6.4 | 18.3 | 15.2 | · | · | · | |
| P / Cash Flow | 21.1 | 51.0 | 62.8 | · | · | · | |
| P / FCF | 22.1 | 53.3 | 64.1 | · | · | · | |
| Earnings Yield | 4.9% | 0.58% | 0.15% | -2.1% | -2.4% | · |
Income Statement 17
| 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 | $298M | $292M | $283M | $272M | $252M | $231M | $210M | $193M | $178M | $168M | $151M | $138M | $127M | $116M | $104M | $96M | |
| Cost of Revenue | $82M | $79M | $77M | $75M | $70M | $67M | $59M | $52M | $47M | $45M | $41M | $36M | $34M | $31M | $28M | $26M | |
| Gross Profit | $217M | $213M | $206M | $197M | $183M | $164M | $151M | $140M | $131M | $122M | $110M | $101M | $93M | $84M | $76M | $70M | |
| R&D Expense | $92M | $83M | $80M | $83M | $74M | $70M | $66M | $63M | $55M | $51M | $50M | $50M | $48M | $46M | $44M | $42M | |
| SG&A Expense | $51M | $46M | $48M | $44M | $46M | $43M | $46M | $38M | $37M | $35M | $36M | $33M | $32M | $30M | $31M | $30M | |
| Operating Expenses | $183M | $169M | $162M | $162M | $149M | $141M | $137M | $127M | $112M | $106M | $106M | $106M | $98M | $93M | $94M | $90M | |
| Operating Income | $34M | $45M | $43M | $35M | $33M | $24M | $14M | $14M | $19M | $16M | $5M | $-5M | $-5M | $-9M | $-18M | $-20M | |
| Interest Income | $12M | $12M | $12M | $12M | $11M | $10M | $11M | $11M | $11M | $10M | $9M | $9M | $8M | $6M | $4M | $2M | |
| Other Non-op | $-410.0K | $-786.0K | $-549.0K | $-503.0K | $2M | $1M | $-2M | $569.0K | $-707.0K | $-621.0K | $1M | $-1M | $-268.0K | $182.0K | $665.0K | $-490.0K | |
| Pretax Income | $45M | $56M | $55M | $46M | $46M | $35M | $22M | $25M | $29M | $26M | $15M | $3M | $2M | $-3M | $-13M | $-18M | |
| Income Tax | $12M | $12M | $13M | $-246M | $2M | $-125.0K | $8M | $2M | $4M | $-1M | $3M | $125.0K | $-1M | $-116.0K | $716.0K | $53.0K | |
| Net Income | $33M | $43M | $42M | $292M | $45M | $35M | $14M | $23M | $24M | $27M | $12M | $3M | $4M | $-3M | $-14M | $-18M | |
| EPS (Basic) | $0.71 | $0.93 | $0.93 | $6.36 | $0.98 | $0.78 | $0.32 | $0.53 | $0.56 | $0.63 | $0.29 | $0.07 | $0.09 | $-0.06 | $-0.36 | $-0.46 | |
| EPS (Diluted) | $0.66 | $0.89 | $0.99 | $5.95 | $0.91 | $0.72 | $0.31 | $0.49 | $0.51 | $0.57 | $0.27 | $0.06 | $0.08 | $-0.06 | $-0.36 | $-0.46 | |
| Shares (Basic) | · | · | · | · | · | · | · | · | · | · | · | · | · | 40,618,000 | · | 39,753,000 | |
| Shares (Diluted) | 50,031,000 | 48,987,000 | -98,333,000 | 49,144,000 | 49,000,000 | 48,497,000 | -95,991,000 | 47,969,000 | 47,770,000 | 47,353,000 | -87,914,000 | 46,946,000 | 46,872,000 | 40,618,000 | -78,147,000 | 39,753,000 | |
| EBITDA | $34M | $49M | · | $35M | $33M | $27M | · | · | $19M | $19M | · | $-5M | $-5M | $-7M | · | $-20M |
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 | $1.18B | $1.14B | $1.04B | $1.01B | $976M | $884M | $786M | $854M | $888M | $830M | · | $702M | $679M | $641M | · | $600M | |
| Receivables | $131M | $125M | $163M | $124M | $113M | $114M | $129M | $94M | $78M | $76M | · | $62M | $53M | $53M | · | $30M | |
| Prepaid Expense | $21M | $20M | $17M | $17M | $19M | $17M | $15M | $16M | $12M | $11M | · | $10M | $8M | $7M | · | $8M | |
| Current Assets | $1.57B | $1.51B | $1.44B | $1.37B | $1.32B | $1.22B | $1.10B | $1.06B | $1.04B | $977M | · | $819M | $785M | $741M | · | $668M | |
| PP&E (Net) | $43M | $37M | $36M | $25M | $20M | $19M | $19M | $19M | $18M | $13M | · | $12M | $13M | $13M | · | $13M | |
| PP&E (Gross) | $67M | $60M | $58M | $45M | $39M | $37M | $35M | $35M | $33M | $27M | · | $23M | $23M | $22M | · | $21M | |
| Accum. Depreciation | $24M | $23M | $22M | $20M | $19M | $18M | $16M | $16M | $14M | $13M | · | $11M | $10M | $9M | · | $7M | |
| Goodwill | $35M | $35M | $35M | $35M | $11M | $11M | $11M | $11M | $4M | $4M | · | $4M | $4M | $4M | · | · | |
| Intangibles | $28M | $28M | $28M | $28M | $20M | $19M | $20M | $22M | $21M | $19M | · | $14M | $10M | $8M | · | · | |
| Other Non-current Assets | $11M | $11M | $10M | $10M | $9M | $2M | $2M | $2M | $2M | $2M | · | $1M | $1M | $1M | · | $2M | |
| Total Assets | $2.07B | $2.06B | $1.99B | $1.89B | $1.54B | $1.40B | $1.30B | $1.22B | $1.14B | $1.07B | · | $871M | $835M | $790M | · | $714M | |
| Accounts Payable | $16M | $7M | $8M | $4M | $8M | $3M | $6M | $4M | $3M | $3M | · | $3M | $2M | $986.0K | · | $3M | |
| Accrued Liabilities | $55M | $50M | $46M | $39M | $32M | $31M | $36M | $28M | $23M | $21M | · | $23M | $22M | $19M | · | $17M | |
| Current Liabilities | $578M | $574M | $551M | $485M | $471M | $454M | $422M | $342M | $318M | $304M | · | $235M | $217M | $203M | · | $156M | |
| Capital Leases | $86M | $92M | $94M | $93M | $94M | $55M | $55M | $55M | $55M | $54M | · | $21M | $21M | $22M | · | $24M | |
| Deferred Tax | $242.0K | $243.0K | $249.0K | $302.0K | $302.0K | $302.0K | $291.0K | $312.0K | · | · | · | · | · | · | · | · | |
| Other Non-current Liabilities | · | $0 | · | · | · | · | · | · | · | · | · | · | · | · | · | · | |
| Total Liabilities | $664M | $666M | $645M | $578M | $566M | $509M | $477M | $397M | $372M | $358M | · | $256M | $238M | $225M | · | $180M | |
| Common Stock | $5.0K | $5.0K | $5.0K | $5.0K | $4.0K | $4.0K | $4.0K | $4.0K | $4.0K | $4.0K | · | $4.0K | $4.0K | $4.0K | · | $4.0K | |
| Paid-in Capital | $1.05B | $1.06B | $1.06B | $1.06B | $1.02B | $985M | $950M | $962M | $930M | $899M | · | $841M | $826M | $798M | · | $750M | |
| Retained Earnings | $365M | $332M | $288M | $246M | $-46M | $-91M | $-126M | $-140M | $-163M | $-187M | · | $-227M | $-229M | $-233M | · | $-217M | |
| Treasury Stock | $1M | $4M | · | · | · | · | · | · | · | · | · | · | · | · | · | · | |
| Stockholders' Equity | $1.41B | $1.39B | $1.35B | $1.31B | $977M | $894M | $825M | $822M | $767M | $711M | $656M | $615M | $596M | $565M | $542M | $534M | |
| Liabilities + Equity | $2.07B | $2.06B | $1.99B | $1.89B | $1.54B | $1.40B | $1.30B | $1.22B | $1.14B | $1.07B | · | $871M | $835M | $790M | · | $714M | |
| Shares Outstanding | · | · | 46,628,000 | 46,109,000 | 45,787,000 | 45,416,000 | 44,936,000 | 43,944,000 | 43,500,000 | 43,057,000 | 42,526,000 | · | · | · | 40,361,000 | · |
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 | $4M | $4M | $4M | $4M | $3M | $4M | $4M | $3M | $2M | $2M | $2M | $2M | $2M | $2M | $1M | $1M | |
| Stock-based Comp | $38M | $35M | $36M | $36M | $35M | $31M | $30M | $29M | $27M | $25M | $25M | $25M | $24M | $21M | $21M | $20M | |
| Deferred Tax | · | · | $13M | · | · | · | $157.0K | · | · | · | · | · | · | · | · | · | |
| Amort. of Intangibles | $3M | · | · | · | $2M | · | · | · | · | · | · | · | · | · | · | · | |
| Other Non-cash | · | $68M | · | · | · | $36M | · | · | · | $29M | · | · | · | $9M | · | · | |
| Operating Cash Flow | $88M | $151M | $107M | $84M | $91M | $106M | $83M | $56M | $62M | $84M | $49M | $38M | $37M | $30M | $12M | $9M | |
| CapEx | $7M | $132.0K | $11M | $5M | $1M | $1M | $2M | $3M | $6M | $1M | $924.0K | $759.0K | $827.0K | $681.0K | $292.0K | $2M | |
| Investing Cash Flow | $8M | $-17M | $-43M | $-52M | $-2M | $-11M | $-110M | $-93M | $-9M | $-5M | $-4M | $-5M | $-3M | $-1M | $-5M | $-4M | |
| Stock Repurchased | $45M | $24M | · | · | $0 | $0 | · | · | · | · | · | · | · | · | · | $0 | |
| Net Stock Activity | · | $-24M | · | · | · | · | · | · | · | · | · | · | · | · | · | · | |
| Financing Cash Flow | $-54M | $-32M | $-39M | $3M | $4M | $3M | $-42M | $3M | $5M | $4M | $4M | $-10M | $4M | $5M | $2M | $4M | |
| Net Change in Cash | $42M | $102M | $25M | $35M | $92M | $98M | $-69M | $-34M | $59M | $82M | $49M | $23M | $38M | $33M | $8M | $9M | |
| Taxes Paid | · | · | $3M | $2.0K | $12M | $87.0K | $823.0K | $2M | $5M | $0 | $125.0K | $256.0K | $2M | $28.0K | $7.0K | $0 | |
| Free Cash Flow | · | $151M | · | · | · | $104M | · | · | · | $82M | · | · | · | $29M | · | · |
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 | 72.6% | 73.0% | · | 72.5% | 72.4% | 71.1% | · | · | 73.5% | 73.0% | · | 73.7% | 73.4% | 72.8% | · | 72.6% | |
| Operating Margin | 11.4% | 15.2% | · | 12.9% | 13.2% | 10.2% | · | · | 10.5% | 9.8% | · | -3.4% | -3.8% | -7.4% | · | -21.0% | |
| Net Margin | 11.1% | 14.9% | · | 107.5% | 17.8% | 15.2% | · | · | 13.7% | 16.1% | · | 2.0% | 2.9% | -2.2% | · | -19.2% | |
| Pretax Margin | 15.2% | 19.0% | · | 17.1% | 18.4% | 15.2% | · | · | 16.1% | 15.4% | · | 2.1% | 1.9% | -2.3% | · | -19.1% | |
| EBITDA Margin | 11.4% | 16.7% | · | 12.9% | 13.2% | 11.8% | · | · | 10.5% | 11.1% | · | -3.4% | -3.8% | -5.8% | · | -21.0% | |
| ROA | 1.8% | 2.5% | · | 18.8% | 3.3% | 2.8% | · | · | 2.5% | 2.9% | · | 0.35% | 0.49% | -0.35% | · | -2.8% | |
| ROE | 2.8% | 3.8% | · | 27.4% | 5.1% | 4.4% | · | · | 3.6% | 4.2% | · | 0.49% | 0.66% | -0.48% | · | -3.5% | |
| ROIC | 1.8% | 2.5% | · | 16.9% | 3.3% | 2.6% | · | · | 2.1% | 2.4% | · | -0.73% | -1.3% | -1.4% | · | -3.8% |
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 | 2.7 | 2.6 | · | 2.8 | 2.8 | 2.7 | · | · | 3.3 | 3.2 | · | 3.5 | 3.6 | 3.7 | · | 4.3 | |
| Quick Ratio | 2.3 | 2.2 | · | 2.3 | 2.3 | 2.2 | · | · | 3.0 | 3.0 | · | 3.2 | 3.4 | 3.4 | · | 4.0 |
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 | 0.2 | 0.2 | · | 0.2 | 0.2 | 0.2 | · | · | 0.2 | 0.2 | · | 0.2 | 0.2 | 0.2 | · | 0.1 | |
| Receivables Turnover | 2.4 | 2.4 | · | 2.5 | 2.6 | 2.4 | · | · | 2.7 | 2.6 | · | 3.0 | 3.1 | 2.9 | · | 3.8 |
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 | $1.11B | $1.05B | · | $947M | $854M | $769M | · | $676M | $610M | $548M | · | $476M | $427M | $381M | · | $329M | |
| Net Income TTM | $414M | $416M | · | $395M | $128M | $110M | · | $77M | $58M | $31M | · | $-14M | $-32M | $-48M | · | $-75M | |
| Market Cap | · | · | · | $14.84B | $18.77B | $14.10B | · | · | $9.08B | $9.50B | · | · | · | · | · | · | |
| P/E | 13.7 | 11.6 | · | 39.9 | 155.9 | 135.6 | · | 173.0 | 171.0 | 339.4 | · | -436.5 | -174.3 | -117.8 | · | -44.7 | |
| P/S | · | · | · | 15.7 | 22.0 | 18.3 | · | · | 14.9 | 17.3 | · | · | · | · | · | · | |
| P/B | · | · | · | 11.3 | 19.2 | 15.8 | · | · | 11.8 | 13.4 | · | · | · | · | · | · | |
| P / Tangible Book | · | · | · | 11.9 | 19.8 | 16.3 | · | 15.7 | 12.2 | 13.8 | · | · | · | · | · | · | |
| P / Cash Flow | · | · | · | · | · | 133.5 | · | · | · | 113.7 | · | · | · | · | · | · | |
| P / FCF | · | · | · | · | · | 135.2 | · | · | · | 115.7 | · | · | · | · | · | · | |
| Earnings Yield | 7.3% | 8.6% | · | 2.5% | 0.64% | 0.74% | · | 0.58% | 0.58% | 0.29% | · | -0.23% | -0.57% | -0.85% | · | -2.2% |
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 | 2021-12-31 | |
|---|---|---|---|---|---|
| Revenue | $1.04B | $748M | $531M | $369M | $251M |
| Gross Margin % | 72.2% | 72.8% | 73.2% | 73.1% | 72.4% |
| Operating Margin % | 13.1% | 8.4% | -2.5% | -17.6% | -23.9% |
| Net Income | $414M | $89M | $16M | $-60M | $-60M |
| Diluted EPS | $8.57 | $1.88 | $0.35 | $-1.51 | $-2.57 |
Balance Sheet
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Current Ratio | 2.6 | 2.6 | 3.2 | 3.8 | 5.2 |
| Quick Ratio | 2.2 | 2.2 | 3.0 | 3.6 | 4.9 |
Cash Flow
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Free Cash Flow | $370M | $273M | $150M | $48M | $6M |
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Institutional owners (13F) 501 filers · $3.4B 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 |
|---|---|---|---|---|
| 128 (+69 vs prior Q) | 53 (-87 vs prior Q) | 140 (-27 vs prior Q) | 136 (+12 vs prior Q) | +1.4M |
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 |
|---|---|---|---|---|
| VANGUARD CAPITAL MANAGEMENT LLC | $200,789,149 | 1,745,689 | 5.98% | Shares |
| TWO SIGMA INVESTMENTS, LP | $187,395,415 | 1,629,242 | 5.58% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $184,409,266 | 1,603,280 | 5.49% | Shares |
| STATE OF MICHIGAN RETIREMENT SYSTEM | $150,228,427 | 1,306,107 | 4.47% | Shares |
| STATE STREET CORP | $141,404,553 | 1,229,391 | 4.21% | Shares |
| BANK OF AMERICA CORP /DE/ | $128,726,588 | 1,119,167 | 3.83% | Shares |
| FMR LLC | $124,485,686 | 1,082,296 | 3.71% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $115,997,670 | 1,008,500 | 3.45% | Put option |
| PeakShares LLC | $115,020,000 | 1,000 | 3.43% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $114,801,462 | 998,100 | 3.42% | Call option |
| CITADEL ADVISORS LLC | $95,351,580 | 829,000 | 2.84% | Put option |
| CITADEL ADVISORS LLC | $86,126,976 | 748,800 | 2.56% | Call option |
| BAILLIE GIFFORD & CO | $75,963,234 | 660,435 | 2.26% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $70,248,771 | 610,559 | 2.09% | Shares |
| Quinn Opportunity Partners LLC | $63,912,473 | 555,664 | 1.90% | Shares |
| GOLDMAN SACHS GROUP INC | $61,050,891 | 530,785 | 1.82% | Shares |
| JANE STREET GROUP, LLC | $59,476,842 | 517,100 | 1.77% | Put option |
| GILDER GAGNON HOWE & CO LLC | $57,779,605 | 502,344 | 1.72% | Shares |
| WOLVERINE TRADING, LLC | $56,780,306 | 172,700 | 1.69% | Put option |
| Whale Rock Capital Management LLC | $54,262,295 | 471,764 | 1.62% | Shares |
| BNP PARIBAS FINANCIAL MARKETS | $53,360,423 | 463,923 | 1.59% | Shares |
| WOLVERINE TRADING, LLC | $46,982,662 | 142,900 | 1.40% | Call option |
| VANGUARD GROUP INC | $43,512,066 | 247,932 | 1.30% | Shares |
| JANE STREET GROUP, LLC | $41,901,786 | 364,300 | 1.25% | Call option |
| Squarepoint Ops LLC | $37,320,769 | 324,472 | 1.11% | Shares |
| NORGES BANK | $36,984,221 | 321,546 | 1.10% | Shares |
| Carnegie Mellon University | $33,909,506 | 294,814 | 1.01% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $29,049,336 | 252,559 | 0.87% | Shares |
| D. E. Shaw & Co., Inc. | $27,478,278 | 238,900 | 0.82% | Call option |
| Point72 Asset Management, L.P. | $24,735,511 | 215,054 | 0.74% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $24,579,429 | 213,697 | 0.73% | Shares |
| RENAISSANCE TECHNOLOGIES LLC | $24,329,721 | 211,526 | 0.72% | Shares |
| GOLDMAN SACHS GROUP INC | $22,957,992 | 199,600 | 0.68% | Put option |
| JANE STREET GROUP, LLC | $19,716,038 | 171,414 | 0.59% | Shares |
| AMERICAN CENTURY COMPANIES INC | $19,369,598 | 168,402 | 0.58% | Shares |
| TWO SIGMA ADVISERS, LP | $18,617,040 | 106,080 | 0.55% | Shares |
| Capital International Investors | $17,211,593 | 149,640 | 0.51% | Shares |
| Gotham Asset Management, LLC | $16,752,203 | 145,646 | 0.50% | Shares |
| Cubist Systematic Strategies, LLC | $16,059,816 | 49,900 | 0.48% | Call option |
| Walleye Trading LLC | $14,089,950 | 122,500 | 0.42% | Put option |
| Polymer Capital Management (HK) LTD | $14,066,946 | 122,300 | 0.42% | Shares |
| Walleye Trading LLC | $13,993,678 | 121,663 | 0.42% | Shares |
| RHUMBLINE ADVISERS | $11,615,481 | 100,987 | 0.35% | Shares |
| Balyasny Asset Management L.P. | $11,502,000 | 100,000 | 0.34% | Call option |
| Sessa Capital IM, L.P. | $11,502,000 | 100,000 | 0.34% | Put option |
| Trexquant Investment LP | $11,017,306 | 95,786 | 0.33% | Shares |
| D. E. Shaw & Co., Inc. | $10,834,884 | 94,200 | 0.32% | Put option |
| WOLVERINE TRADING, LLC | $10,581,127 | 32,183 | 0.32% | Shares |
| Voleon Capital Management LP | $10,527,321 | 91,526 | 0.31% | Shares |
| FIRST TRUST ADVISORS LP | $10,526,630 | 91,520 | 0.31% | Shares |
| PRINCIPAL FINANCIAL GROUP INC | $10,457,734 | 90,921 | 0.31% | Shares |
| Jasper Ridge Partners, L.P. | $10,019,162 | 87,108 | 0.30% | Shares |
| Nantahala Capital Management, LLC | $9,647,533 | 83,877 | 0.29% | Shares |
| Mitsubishi UFJ Trust & Banking Corp | $8,928,082 | 77,622 | 0.27% | Shares |
| WINMILL & CO. INC | $8,915,085 | 77,509 | 0.27% | Shares |
| Swiss National Bank | $8,897,947 | 77,360 | 0.26% | Shares |
| Walleye Trading LLC | $8,810,532 | 76,600 | 0.26% | Call option |
| Clear Street Group Inc. | $8,686,195 | 75,519 | 0.26% | Shares |
| Arthedge Capital Management, LLC | $8,603,496 | 74,800 | 0.26% | Shares |
| Private Advisor Group, LLC | $8,590,853 | 74,690 | 0.26% | Shares |
| BlackRock, Inc. | $8,441,663 | 73,393 | 0.25% | Shares |
| MILLENNIUM MANAGEMENT LLC | $8,282,935 | 72,013 | 0.25% | Shares |
| USS Investment Management Ltd | $8,265,542 | 71,790 | 0.25% | Shares |
| ENVESTNET ASSET MANAGEMENT INC | $8,100,399 | 70,426 | 0.24% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $7,951,793 | 69,134 | 0.24% | Shares |
| KR Capital LP | $7,874,499 | 68,462 | 0.23% | Shares |
| Proem Advisors LLC | $7,873,119 | 68,450 | 0.23% | Shares |
| Baird Financial Group, Inc. | $7,754,877 | 67,421 | 0.23% | Shares |
| CI INVESTMENTS INC. | $7,213,249 | 62,713 | 0.21% | Shares |
| Mariner, LLC | $6,765,499 | 58,815 | 0.20% | Shares |
| Universal- Beteiligungs- und Servicegesellschaft mbH | $6,658,852 | 57,893 | 0.20% | Shares |
| BARCLAYS PLC | $6,343,008 | 55,147 | 0.19% | Shares |
| UBS Group AG | $6,186,926 | 53,790 | 0.18% | Call option |
| IMC-Chicago, LLC | $6,155,985 | 53,521 | 0.18% | Shares |
| Fideuram Asset Management (Ireland) dac | $6,126,776 | 60,841 | 0.18% | Shares |
| SIMPLEX TRADING, LLC | $6,109,862 | 53,120 | 0.18% | Shares |
| Squarepoint Ops LLC | $5,831,514 | 50,700 | 0.17% | Call option |
| TUDOR INVESTMENT CORP ET AL | $5,463,450 | 47,500 | 0.16% | Put option |
| TUDOR INVESTMENT CORP ET AL | $5,330,027 | 46,340 | 0.16% | Shares |
| California Public Employees Retirement System | $5,048,228 | 43,890 | 0.15% | Shares |
| Retirement Systems of Alabama | $4,786,672 | 41,616 | 0.14% | Shares |
| ALLIANCEBERNSTEIN L.P. | $4,762,212 | 48,313 | 0.14% | Shares |
| Edgestream Partners, L.P. | $4,751,361 | 41,309 | 0.14% | Shares |
| Congress Wealth Management LLC / DE / | $4,744,340 | 11,571 | 0.14% | Shares |
| Lingotto Investment Management LLP | $4,605,976 | 40,045 | 0.14% | Shares |
| VICTORY CAPITAL MANAGEMENT INC | $4,192,134 | 36,447 | 0.12% | Shares |
| VANGUARD ASSET MANAGEMENT, Ltd | $4,154,062 | 36,116 | 0.12% | Shares |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM | $4,112,340 | 41,720 | 0.12% | Shares |
| Cubist Systematic Strategies, LLC | $4,055,184 | 12,600 | 0.12% | Put option |
| Brevan Howard Capital Management LP | $4,040,423 | 35,128 | 0.12% | Shares |
| MERCER GLOBAL ADVISORS INC /ADV | $3,983,554 | 34,634 | 0.12% | Shares |
| Engineers Gate Manager LP | $3,917,811 | 34,062 | 0.12% | Shares |
| CAPITAL FUND MANAGEMENT S.A. | $3,899,178 | 33,900 | 0.12% | Call option |
| AMERIPRISE FINANCIAL INC | $3,837,872 | 33,367 | 0.11% | Shares |
| Schonfeld Strategic Advisors LLC | $3,823,033 | 33,238 | 0.11% | Shares |
| Cresset Asset Management, LLC | $3,720,322 | 32,345 | 0.11% | Shares |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM | $3,718,482 | 32,329 | 0.11% | Shares |
| Quantinno Capital Management LP | $3,552,936 | 30,889 | 0.11% | Shares |
| BROWN CAPITAL MANAGEMENT LLC | $3,485,566 | 30,304 | 0.10% | Shares |
| STATE OF WISCONSIN INVESTMENT BOARD | $3,309,816 | 28,776 | 0.10% | Shares |
Company insiders 13 insiders · 4 officers · 9 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Luis Von Ahn | President & CEO, Co-Founder | May 27, 2026 F | — | 0 | 0 | $0 |
| Stephen C. Chen | General Counsel | June 17, 2026 M | 52,865 | 0 | 0 | $0 |
| Severin Hacker | Chief Tech Officer, Co-Founder | May 27, 2026 F | — | 0 | 0 | $0 |
| Robert Meese | Chief Business Officer | May 3, 2022 M | 198,081 | 0 | 0 | $0 |
| Iii John Osborne Lilly | Director | July 10, 2026 A | 9,023 | 0 | 0 | $0 |
| Mario Schlosser | Director | July 10, 2026 A | 4,262 | 0 | 0 | $0 |
| Amy Bohutinsky | Director | July 10, 2026 A | 7,658 | 0 | 0 | $0 |
| James H Shelton | Director | July 10, 2026 A | 11,753 | 0 | 0 | $0 |
| Bonnie Ross | Director | June 3, 2026 A | 3,345 | 0 | 0 | $0 |
| Sara Clemens | Director | June 3, 2026 A | 5,955 | 0 | 0 | $0 |
| William B Gordon | Director | June 3, 2026 A | 78,415 | 0 | 0 | $0 |
| Durable Capital Partners LP | 10% owner | Nov. 9, 2023 S | 3,556,688 | 0 | 0 | $0 |
| Sallie Krawcheck | — | Aug. 10, 2026 A | 4,592 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
ETF ownership Held by 78 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 |
|---|---|---|---|---|
| GRPM · Invesco Exchange-Traded Fund Trust | 2.50% | 97,147 SH | Aug. 8, 2026 | Daily |
| RNIN · EA Series Trust | 1.29% | 17,876 NS | April 30, 2026 | N-PORT |
| CALF · Pacer Funds Trust | 0.46% | 143,151 NS | April 30, 2026 | N-PORT |
| COWG · Pacer Funds Trust | 0.43% | 85,392 NS | April 30, 2026 | N-PORT |
| FLOW · Global X Funds | 0.34% | 879 NS | May 31, 2026 | N-PORT |
| TMFX · RBB Fund, Inc. | 0.25% | 723 NS | May 31, 2026 | N-PORT |
| QGRO · AMERICAN CENTURY ETF TRUST | 0.23% | 46,018 NS | May 31, 2026 | N-PORT |
| FDND · First Trust Exchange-Traded Fund IV | 0.21% | 180 NS | April 30, 2026 | N-PORT |
| IJK · iShares Trust | 0.18% | 162,576 SH | Aug. 8, 2026 | Daily |
| IVOG · VANGUARD ADMIRAL FUNDS | 0.17% | 27,395 SH | Aug. 8, 2026 | Daily |
| XJH · iShares Trust | 0.16% | 5,430 SH | Aug. 8, 2026 | Daily |
| OASC · Unified Series Trust | 0.15% | 1,155 NS | May 31, 2026 | N-PORT |
| ISCG · iShares Trust | 0.15% | 12,062 SH | Aug. 8, 2026 | Daily |
| QVMM · Invesco Exchange-Traded Fund Trust … | 0.14% | 4,847 SH | Aug. 8, 2026 | Daily |
| IJH · iShares Trust | 0.14% | 1,389,477 SH | Aug. 8, 2026 | Daily |
| WEBL · Direxion Shares ETF Trust | 0.14% | 1,374 NS | April 30, 2026 | N-PORT |
| MID · AMERICAN CENTURY ETF TRUST | 0.13% | 1,163 NS | May 31, 2026 | N-PORT |
| IVOO · VANGUARD ADMIRAL FUNDS | 0.13% | 64,922 SH | Aug. 8, 2026 | Daily |
| VCR · VANGUARD WORLD FUND | 0.13% | 75,218 SH | Aug. 8, 2026 | Daily |
| PTMC · Pacer Funds Trust | 0.13% | 4,591 NS | April 30, 2026 | N-PORT |
| SMLF · iShares Trust | 0.12% | 42,740 SH | Aug. 8, 2026 | Daily |
| VBK · VANGUARD INDEX FUNDS | 0.12% | 506,368 SH | Aug. 8, 2026 | Daily |
| BKMC · BNY Mellon ETF Trust | 0.10% | 5,797 NS | April 30, 2026 | N-PORT |
| MVV · ProShares Trust | 0.10% | 1,383 NS | May 31, 2026 | N-PORT |
| FDIS · FIDELITY COVINGTON TRUST | 0.09% | 14,597 NS | April 30, 2026 | N-PORT |
| MIDU · Direxion Shares ETF Trust | 0.09% | 663 NS | April 30, 2026 | N-PORT |
| IJJ · iShares Trust | 0.09% | 63,306 SH | Aug. 8, 2026 | Daily |
| BBMC · J.P. Morgan Exchange-Traded Fund Tr… | 0.09% | 15,774 NS | April 30, 2026 | N-PORT |
| SCHM · SCHWAB STRATEGIC TRUST | 0.08% | 107,936 NS | May 31, 2026 | N-PORT |
| IVOV · VANGUARD ADMIRAL FUNDS | 0.08% | 10,718 SH | Aug. 8, 2026 | Daily |
| IYC · iShares Trust | 0.08% | 7,693 SH | Aug. 8, 2026 | Daily |
| GINN · Goldman Sachs ETF Trust | 0.08% | 1,457 NS | May 31, 2026 | N-PORT |
| SMDX · Tidal Trust III | 0.08% | 867 NS | April 30, 2026 | N-PORT |
| ISCB · iShares Trust | 0.07% | 1,698 SH | Aug. 8, 2026 | Daily |
| UMDD · ProShares Trust | 0.07% | 193 NS | May 31, 2026 | N-PORT |
| ESML · iShares Trust | 0.07% | 15,619 SH | Aug. 8, 2026 | Daily |
| PRFZ · Invesco Exchange-Traded Fund Trust | 0.06% | 13,939 SH | Aug. 8, 2026 | Daily |
| SMMD · iShares Trust | 0.06% | 19,177 SH | Aug. 8, 2026 | Daily |
| EQAL · Invesco Exchange-Traded Fund Trust … | 0.06% | 3,919 SH | Aug. 8, 2026 | Daily |
| JSTC · Tidal Trust I | 0.06% | 1,761 NS | May 31, 2026 | N-PORT |
| IEDI · iShares U.S. ETF Trust | 0.05% | 122 SH | Aug. 8, 2026 | Daily |
| VXF · VANGUARD INDEX FUNDS | 0.05% | 461,546 SH | Aug. 8, 2026 | Daily |
| VB · VANGUARD INDEX FUNDS | 0.05% | 877,027 SH | Aug. 8, 2026 | Daily |
| RWK · Invesco Exchange-Traded Fund Trust … | 0.05% | 4,799 SH | Aug. 8, 2026 | Daily |
| IWS · iShares Trust | 0.04% | 57,838 SH | Aug. 8, 2026 | Daily |
| IQSM · New York Life Investments ETF Trust | 0.04% | 1,214 NS | April 30, 2026 | N-PORT |
| PEXL · Pacer Funds Trust | 0.04% | 168 NS | April 30, 2026 | N-PORT |
| FLCG · Federated Hermes ETF Trust | 0.04% | 2,011 NS | May 31, 2026 | N-PORT |
| IWR · iShares Trust | 0.03% | 157,478 SH | Aug. 8, 2026 | Daily |
| RILA · Spinnaker ETF Series | 0.03% | 108 NS | April 30, 2026 | N-PORT |