ENVX Enovix Corporation - Common Stock
$3.28
Price · Aug 19, 2026
Fundamentals as of Aug 12, 2026
52W Range
$3–$14
2% of range
Analyst Rating
BUY
17 analysts
Price Target
$11
+231% upside
P/E (TTM)
-10.2
ROE
—
Net Profit Margin
—
ENVX Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$3.28
Market Cap
—
P/E (TTM)
-10.2
EPS (TTM)
$-0.75
Revenue (TTM)
$32M
Div Yield
—
ROE
—
Debt/Equity
—
52W Range
$3 – $14
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10-Year Performance Revenue, net income, margins and EPS trends
Revenue & Net Income
$32M
2020-12-31
→
2025-12-28
EPS
$-0.75
2020-12-31
→
2025-12-28
Free Cash Flow
—
2022-01-02
→
2024-12-29
Margins
—
2023-01-01
→
2024-12-29
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Metric
5Y trend
ENVX
Peer Median
P/E (TTM)
-10.2
22.8
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Metric
5Y trend
ENVX
Peer Median
Financial Health Debt, liquidity, solvency — balance sheet strength
Metric
5Y trend
ENVX
Peer Median
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Metric
5Y trend
ENVX
Peer Median
Revenue YoY
37.9%
—
Revenue CAGR 3Y
72.5%
—
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
Metric
5Y trend
ENVX
Peer Median
ENVX Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
BUY
17 analysts
- Strong Buy 4 23.5%
- Buy 9 52.9%
- Hold 3 17.6%
- Sell 1 5.9%
- Strong Sell 0 0.0%
12-Month Price Target
11 analysts · 2026-08-19
Median
$10.00
← Below all targets
$3.28
Low
$5.00
High
$21.00
Median target
$10.00
+204.9%
Mean target
$10.86
+231.2%
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
0.03%
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| June 30, 2026 | $-0.13 | $-0.15 | 0.02% |
| March 31, 2026 | $-0.14 | $-0.16 | 0.02% |
| Dec. 31, 2025 | $-0.14 | $-0.18 | 0.04% |
| Sept. 30, 2025 | $-0.14 | $-0.16 | 0.02% |
| June 30, 2025 | $-0.13 | $-0.17 | 0.04% |
| March 31, 2025 | $-0.15 | $-0.19 | 0.04% |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| ENVX | — | -10.2 | 37.9% | — | — | — |
| EOSE | $3.86B | -1.7 | 631.8% | -849.1% | 58.0% | -126.0% |
| TE | — | -3.1 | 25572.8% | — | — | — |
| SHLS | — | 42.5 | 19.1% | 7.1% | 5.7% | 35.0% |
| LYTS | $511M | 21.5 | 22.1% | 4.2% | 10.9% | 24.7% |
| ARRY | $1.41B | -12.6 | 40.2% | -4.1% | 37.7% | 23.2% |
| DFLI | — | — | — | — | — | — |
| SES | — | -8.2 | 929.4% | — | — | — |
| NEOV | — | — | — | — | — | — |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement 18
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Revenue | $32M | $23M | $8M | $6M | $0 | $0 | |
| Cost of Revenue | $26M | $25M | $63M | $23M | $2M | $3M | |
| Gross Profit | $6M | $-2M | $-55M | $-17M | $-2M | $-3M | |
| R&D Expense | $110M | $125M | $88M | $58M | $38M | $14M | |
| SG&A Expense | $73M | $74M | $79M | $52M | $30M | $6M | |
| Operating Expenses | $183M | $241M | $175M | $115M | $68M | $20M | |
| Operating Income | $-177M | $-243M | $-230M | $-132M | $-70M | $-24M | |
| Interest Expense | · | · | $4M | $0 | $187.0K | · | |
| Interest Income | $13M | $12M | $14M | $5M | $37.0K | · | |
| Other Non-op | $1M | $954.0K | $-304.0K | $-54.0K | $-61.0K | $46.0K | |
| Pretax Income | $-158M | $-224M | $-215M | $-52M | $-126M | $-40M | |
| Income Tax | $-1M | $-1M | $-633.0K | $0 | $0 | $0 | |
| Net Income | $-157M | $-222M | $-214M | $-52M | $-126M | $-40M | |
| EPS (Basic) | $-0.75 | $-1.19 | $-1.27 | $-0.34 | $-1.07 | $-0.49 | |
| EPS (Diluted) | $-0.75 | $-1.19 | $-1.30 | $-0.82 | $-1.07 | $-0.49 | |
| Shares (Basic) | 207,635,870 | 186,039,616 | 169,063,306 | 152,918,287 | 117,218,893 | 80,367,324 | |
| Shares (Diluted) | 207,635,870 | 186,039,616 | 169,573,164 | 154,149,367 | 117,218,893 | 80,367,324 | |
| EBITDA | · | $-198M | $-196M | $-125M | $-69M | · |
Balance Sheet 31
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $106M | $273M | $233M | $323M | $385M | $29M | |
| Short-term Investments | $406M | $0 | $74M | $0 | · | · | |
| Receivables | $4M | $5M | $909.0K | $170.0K | $0 | · | |
| Inventory | $14M | $8M | $9M | $634.0K | $0 | · | |
| Prepaid Expense | $8M | $10M | $5M | $6M | $8M | $946.0K | |
| Current Assets | $542M | $295M | $323M | $330M | $398M | $33M | |
| PP&E (Net) | $170M | $168M | $166M | $104M | $77M | $31M | |
| PP&E (Gross) | $220M | $189M | $211M | $116M | $81M | $35M | |
| Accum. Depreciation | $50M | $21M | $44M | $12M | $5M | $4M | |
| Goodwill | $12M | $12M | $12M | $0 | · | · | |
| Intangibles | $32M | $36M | $42M | $0 | · | · | |
| Other Non-current Assets | $4M | $2M | $5M | $937.0K | $1M | $135.0K | |
| Total Assets | $879M | $527M | $564M | $441M | $483M | $65M | |
| Accounts Payable | $18M | $9M | $21M | $7M | $3M | $2M | |
| Accrued Liabilities | $14M | $20M | $14M | $7M | $7M | $2M | |
| Short-term Debt | $10M | $9M | $4M | · | · | · | |
| Current Liabilities | $65M | $54M | $61M | $23M | $21M | $11M | |
| Capital Leases | $11M | $13M | $16M | $8M | $9M | $0 | |
| Deferred Tax | $9M | $9M | $11M | $0 | · | · | |
| Other Non-current Liabilities | $14.0K | $14.0K | $13.0K | $92.0K | $191.0K | $233.0K | |
| Total Liabilities | $605M | $278M | $303M | $84M | $156M | $29M | |
| Long-term Debt | $520M | $170M | $171M | · | · | · | |
| Total Debt | · | $179M | $175M | · | · | · | |
| Common Stock | $22.0K | $19.0K | $17.0K | $15.0K | $15.0K | $10.0K | |
| Paid-in Capital | $1.31B | $1.07B | $857M | $741M | $659M | $243M | |
| Retained Earnings | $-978M | $-821M | $-599M | $-385M | $-333M | $-207M | |
| Treasury Stock | $58M | $0 | · | · | · | · | |
| AOCI | $-508.0K | $-143.0K | $-62.0K | $0 | · | · | |
| Stockholders' Equity | $271M | $247M | $258M | $356M | $326M | $36M | |
| Liabilities + Equity | $879M | $527M | $564M | $441M | $483M | $65M | |
| Shares Outstanding | 216,556,238 | 190,559,335 | 167,392,315 | 157,461,802 | 152,272,287 | 100,016,559 |
Cash Flow 18
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| D&A | $35M | $45M | $34M | $8M | $2M | $579.0K | |
| Deferred Tax | $-1M | $-3M | $-813.0K | · | · | · | |
| Amort. of Intangibles | $5M | $5M | $5M | · | · | · | |
| Restructuring | $0 | $42M | $3M | $0 | $0 | · | |
| Other Non-cash | · | $71M | $76M | $-39M | $74M | · | |
| Operating Cash Flow | $-95M | $-109M | $-105M | $-83M | $-51M | $-20M | |
| CapEx | $18M | $76M | $62M | $36M | $44M | $27M | |
| Investing Cash Flow | $-538M | $-1M | $-143M | $-36M | $-44M | $-27M | |
| Debt Issued | · | $5M | $172M | $0 | $15M | $2M | |
| Net Debt Issued | · | $5M | $172M | $0 | · | · | |
| Stock Issued | $0 | $107M | $0 | $0 | · | · | |
| Stock Repurchased | $58M | $0 | $0 | $10.0K | $27.0K | $0 | |
| Net Stock Activity | · | $107M | $-26.0K | $-10.0K | $-27.0K | · | |
| Financing Cash Flow | $467M | $151M | $160M | $57M | $451M | $66M | |
| Net Change in Cash | $-167M | $40M | $-88M | $-62M | $356M | $19M | |
| Taxes Paid | $1M | $185.0K | $0 | $0 | · | · | |
| Free Cash Flow | · | $-185M | $-166M | $-119M | $-95M | · | |
| Levered FCF | · | · | $-171M | · | · | · |
Profitability 8
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Gross Margin | · | -8.9% | -725.0% | -274.7% | · | · | |
| Operating Margin | · | -1051.7% | -3012.2% | -2128.0% | 37177.5% | · | |
| Net Margin | · | -963.2% | -2800.5% | -832.3% | 67312.3% | · | |
| Pretax Margin | · | -970.5% | -2809.6% | -832.3% | 67312.3% | · | |
| EBITDA Margin | · | -856.8% | -2567.3% | -2008.3% | 36645.4% | · | |
| ROA | · | -40.7% | -42.6% | -11.2% | -46.0% | · | |
| ROE | · | -88.0% | -84.7% | -14.4% | -38.7% | · | |
| ROIC | · | -56.6% | -53.0% | -37.0% | -21.3% | · |
Liquidity & Solvency 5
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Current Ratio | · | 5.5 | 5.3 | 14.3 | 19.3 | · | |
| Quick Ratio | · | 5.2 | 5.0 | 14.0 | 18.7 | · | |
| Debt / Equity | · | 0.7 | 0.7 | · | · | · | |
| LT Debt / Equity | · | 0.7 | 0.7 | · | · | · | |
| Interest Coverage | · | · | -51.7 | · | · | · |
Efficiency 3
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Asset Turnover | · | 0.0 | 0.0 | 0.0 | -0.0 | · | |
| Inventory Turnover | · | 3.1 | 13.5 | 73.3 | · | · | |
| Receivables Turnover | · | 8.4 | 14.2 | 73.0 | · | · |
Growth Rates 2
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Revenue YoY | 37.9% | 201.9% | 23.2% | · | · | · | |
| Revenue CAGR 3Y | 72.5% | · | · | · | · | · |
Valuation (TTM) 14
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Revenue TTM | $32M | $23M | $8M | $6M | $0 | $0 | |
| Net Income TTM | $-157M | $-222M | $-214M | $-52M | $-126M | $-40M | |
| Market Cap | · | $2.15B | $2.10B | $1.96B | $4.15B | · | |
| Enterprise Value | · | $2.06B | $1.96B | · | · | · | |
| P/E | -10.2 | -9.5 | -9.6 | -15.2 | -25.5 | · | |
| P/S | · | 93.2 | 274.2 | 315.8 | · | · | |
| P/B | · | 8.7 | 8.1 | 5.5 | 12.7 | · | |
| P / Tangible Book | 7.3 | 10.8 | 10.3 | 5.5 | 12.7 | · | |
| P / Cash Flow | · | -19.8 | -20.0 | -23.7 | -81.0 | · | |
| P / FCF | · | -11.6 | -12.6 | -16.5 | -43.8 | · | |
| EV / EBITDA | · | -10.4 | -10.0 | · | · | · | |
| EV / FCF | · | -11.1 | -11.8 | · | · | · | |
| EV / Revenue | · | 89.1 | 256.9 | · | · | · | |
| Earnings Yield | -9.8% | -10.5% | -10.4% | -6.6% | -3.9% | · |
Income Statement 18
| Metric | Trend | Q3 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 | Q4 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $9M | $8M | $11M | $8M | $7M | $5M | $10M | $4M | $4M | $5M | $7M | $42.0K | $21.0K | $1M | |
| Cost of Revenue | $8M | $6M | $9M | $7M | $6M | $5M | $9M | $5M | $4M | $7M | $20M | $14M | $12M | $10M | |
| Gross Profit | $1M | $2M | $3M | $1M | $2M | $261.0K | $1M | $-642.0K | $-655.0K | $-2M | $-12M | $-14M | $-12M | $-9M | |
| R&D Expense | $24M | $27M | $28M | $28M | $28M | $26M | $22M | $24M | $29M | $49M | $35M | $17M | $24M | $24M | |
| SG&A Expense | $20M | $19M | $18M | $20M | $18M | $17M | $13M | $21M | $21M | $20M | $23M | $17M | $27M | $24M | |
| Operating Expenses | $45M | $45M | $46M | $48M | $46M | $43M | $36M | $49M | $88M | $68M | $61M | $38M | $51M | $52M | |
| Operating Income | $-43M | $-44M | $-44M | $-47M | $-44M | $-43M | $-35M | $-49M | $-89M | $-70M | $-90M | $-52M | $-63M | $-67M | |
| Interest Expense | · | · | · | · | · | · | · | · | · | $2M | · | $1M | $0 | · | |
| Interest Income | $5M | $6M | $6M | $3M | $2M | $2M | $3M | $3M | $3M | $4M | $4M | $3M | $2M | · | |
| Other Non-op | $984.0K | $343.0K | $-160.0K | $140.0K | $-992.0K | $2M | $2M | $-2M | $242.0K | $466.0K | $-346.0K | $-1.0K | $21.0K | $84.0K | |
| Pretax Income | $-44M | $-38M | $-35M | $-54M | $-45M | $-24M | $-36M | $-20M | $-121M | $-47M | $-61M | $-64M | $-74M | · | |
| Income Tax | $-441.0K | $-129.0K | $133.0K | $-422.0K | $-861.0K | $-162.0K | $1M | $2M | $-5M | $-152.0K | $-633.0K | $0 | $0 | · | |
| Net Income | $-43M | $-38M | $-35M | $-54M | $-45M | $-24M | $-37M | $-23M | $-116M | $-46M | $-119M | $-64M | $-74M | $-77M | |
| EPS (Basic) | $-0.20 | $-0.18 | $-0.15 | $-0.26 | $-0.22 | $-0.12 | $-0.16 | $-0.12 | $-0.63 | $-0.28 | $-0.67 | $-0.41 | $-0.47 | $-0.44 | |
| EPS (Diluted) | $-0.20 | $-0.18 | $-0.14 | $-0.27 | $-0.22 | $-0.12 | $0.00 | $-0.28 | $-0.63 | $-0.28 | $-0.26 | $-0.41 | $-0.47 | $-0.31 | |
| Shares (Basic) | 218,502,098 | 217,371,926 | -394,947,070 | 206,458,846 | 204,819,119 | 203,328,890 | -353,147,254 | 187,785,319 | 183,256,633 | 168,144,918 | -295,363,496 | 157,151,386 | 155,626,977 | -247,068,430 | |
| Shares (Diluted) | 218,502,098 | 217,371,926 | -395,299,539 | 206,811,315 | 204,819,119 | 203,328,890 | -353,339,058 | 187,977,123 | 183,256,633 | 168,144,918 | -296,543,661 | 157,151,386 | 155,626,977 | -247,527,373 | |
| EBITDA | $-43M | $-35M | · | $-47M | $-44M | $-34M | · | $-49M | $-89M | $-45M | · | $-52M | $-60M | · |
Balance Sheet 31
| Metric | Trend | Q3 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 | Q4 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $34M | $89M | $106M | $336M | $136M | $190M | $273M | $201M | $235M | $222M | $233M | $343M | $294M | $323M | |
| Short-term Investments | $442M | $440M | $406M | $223M | $67M | $58M | $0 | $0 | $15M | $40M | · | $66M | · | · | |
| Receivables | $3M | $4M | $4M | $5M | $4M | $3M | $5M | $2M | $2M | $2M | · | $42.0K | $21.0K | · | |
| Inventory | $18M | $16M | $14M | $15M | $13M | $10M | $8M | $10M | $10M | $7M | · | $796.0K | $815.0K | · | |
| Prepaid Expense | $9M | $9M | $8M | $8M | $6M | $7M | $10M | $12M | $9M | $7M | · | $3M | $6M | · | |
| Current Assets | $506M | $558M | $542M | $589M | $228M | $270M | $295M | $224M | $270M | $278M | · | $414M | $301M | · | |
| PP&E (Net) | $165M | $165M | $170M | $175M | $178M | $166M | $168M | $158M | $151M | $159M | · | $118M | $102M | · | |
| PP&E (Gross) | · | · | $220M | $217M | $213M | $193M | $189M | $173M | $163M | $224M | · | $136M | $118M | · | |
| Accum. Depreciation | · | · | $50M | $42M | $35M | $28M | $21M | $15M | $12M | $65M | · | $17M | $15M | · | |
| Goodwill | $12M | $12M | $12M | $12M | $12M | $12M | $12M | $12M | $12M | $12M | · | · | · | · | |
| Intangibles | $29M | $30M | $32M | $33M | $34M | $35M | $36M | $38M | $39M | $40M | · | · | · | · | |
| Other Non-current Assets | $4M | $4M | $4M | $4M | $4M | $3M | $2M | $3M | $3M | $5M | · | $825.0K | $881.0K | · | |
| Total Assets | $800M | $834M | $879M | $914M | $469M | $499M | $527M | $448M | $489M | $509M | · | $539M | $411M | · | |
| Accounts Payable | $12M | $15M | $18M | $21M | $14M | $21M | $9M | $15M | $19M | $19M | · | $13M | $5M | · | |
| Accrued Liabilities | $11M | $9M | $14M | $9M | $6M | $9M | $20M | $14M | $17M | $12M | · | $13M | $9M | · | |
| Short-term Debt | $10M | $9M | $10M | $10M | $10M | $10M | · | $11M | $9M | $7M | · | · | · | · | |
| Current Liabilities | $52M | $51M | $65M | $61M | $52M | $58M | $54M | $59M | $68M | $57M | · | $37M | $25M | · | |
| Capital Leases | $6M | $11M | $11M | $11M | $12M | $13M | $13M | $14M | $14M | $15M | · | $8M | $8M | · | |
| Deferred Tax | $8M | $9M | $9M | $9M | $10M | $9M | $9M | $8M | $6M | $11M | · | · | · | · | |
| Other Non-current Liabilities | $13.0K | $14.0K | $14.0K | $14.0K | $15.0K | $14.0K | $14.0K | $12.0K | $11.0K | $13.0K | · | $24.0K | $38.0K | · | |
| Total Liabilities | $588M | $591M | $605M | $617M | $262M | $261M | $278M | $278M | $316M | $277M | · | $292M | $98M | · | |
| Long-term Debt | $521M | $520M | $520M | $519M | $170M | $169M | $170M | $169M | $170M | $170M | · | $167M | · | · | |
| Total Debt | · | $530M | · | $528M | $180M | $180M | · | $180M | $180M | $177M | · | · | · | · | |
| Common Stock | $23.0K | $22.0K | $22.0K | $22.0K | $19.0K | $19.0K | $19.0K | $18.0K | $18.0K | $17.0K | · | $16.0K | $16.0K | · | |
| Paid-in Capital | $1.33B | $1.32B | $1.31B | $1.30B | $1.09B | $1.08B | $1.07B | $951M | $931M | $875M | · | $770M | $770M | · | |
| Retained Earnings | $-1.06B | $-1.02B | $-978M | $-943M | $-889M | $-845M | $-821M | $-784M | $-761M | $-645M | · | $-523M | $-458M | · | |
| Treasury Stock | $58M | $58M | $58M | $58M | · | · | $0 | · | · | · | · | · | · | · | |
| AOCI | $-1M | $-1M | $-508.0K | $-658.0K | $-391.0K | $-184.0K | $-143.0K | $-42.0K | $15.0K | $-53.0K | · | $-24.0K | · | · | |
| Stockholders' Equity | $210M | $241M | $271M | $294M | $204M | $235M | $247M | $168M | $170M | $229M | · | $247M | $312M | · | |
| Liabilities + Equity | $800M | $834M | $879M | $914M | $469M | $499M | $527M | $448M | $489M | $509M | · | $539M | $411M | · | |
| Shares Outstanding | 219,195,932 | 217,698,339 | 216,556,238 | 215,367,757 | 192,957,823 | 191,715,117 | 190,559,335 | 177,591,877 | 175,302,694 | 169,738,474 | 167,392,315 | 158,911,419 | 158,089,463 | 157,461,802 |
Cash Flow 16
| Metric | Trend | Q3 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 | Q4 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $10M | $9M | $8M | $9M | $9M | $8M | $8M | $6M | $6M | $25M | $24M | · | $4M | $4M | |
| Amort. of Intangibles | · | · | · | · | · | · | · | $1M | $1M | $1M | · | · | · | · | |
| Restructuring | · | · | $0 | $0 | $0 | · | $0 | $4M | $38M | · | $0 | $0 | · | $0 | |
| Other Non-cash | · | $-4M | · | · | · | $-2M | · | · | · | $-14M | · | · | $45M | · | |
| Operating Cash Flow | $-22M | $-33M | $-27M | $-26M | $-26M | $-17M | $-16M | $-31M | $-27M | $-35M | $-27M | · | $-26M | $-22M | |
| CapEx | $10M | $3M | $1M | $3M | $8M | $6M | $16M | $20M | $25M | $15M | $29M | · | $3M | $5M | |
| Investing Cash Flow | $-34M | $18M | $-199M | $-248M | $-27M | $-64M | $-16M | $-5M | $406.0K | $19M | $-11M | · | $-3M | $-5M | |
| Debt Issued | · | · | · | · | · | · | · | · | · | · | · | · | · | $-15M | |
| Stock Issued | · | · | · | · | · | · | $67M | $0 | $34M | $6M | · | · | · | · | |
| Stock Repurchased | · | · | $0 | $58M | · | · | $0 | $-1.0K | $1.0K | $0 | $-23.0K | · | $9.0K | $1.0K | |
| Net Stock Activity | · | · | · | · | · | · | · | · | · | $6M | · | · | $-9.0K | · | |
| Financing Cash Flow | $466.0K | $-2M | $-3M | $473M | $-1M | $-1M | $107M | $-864.0K | $40M | $5M | $2M | · | $-457.0K | $527.0K | |
| Net Change in Cash | $-55M | $-17M | $-230M | $199M | $-54M | $-83M | $72M | $-34M | $13M | $-11M | $-36M | · | $-29M | $-26M | |
| Taxes Paid | $40.0K | $63.0K | $62.0K | $882.0K | $151.0K | $39.0K | $21.0K | $16.0K | $60.0K | $88.0K | $0 | · | $0 | · | |
| Free Cash Flow | · | $-36M | · | · | · | $-23M | · | · | · | $-50M | · | · | $-29M | · | |
| Levered FCF | · | · | · | · | · | · | · | · | · | $-52M | · | · | · | · |
Profitability 8
| Metric | Trend | Q3 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 | Q4 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 14.4% | 20.4% | · | 17.5% | 26.0% | 5.1% | · | -14.9% | -17.4% | -34.1% | · | -33792.9% | -58223.8% | · | |
| Operating Margin | -479.8% | -577.6% | · | -587.9% | -585.6% | -834.8% | · | -1141.2% | -2355.4% | -1330.3% | · | -123440.5% | -301190.5% | · | |
| Net Margin | -477.2% | -503.4% | · | -672.2% | -596.2% | -461.2% | · | -522.0% | -3075.2% | -879.5% | · | -153109.5% | -350490.5% | · | |
| Pretax Margin | -482.2% | -505.1% | · | -678.2% | -604.3% | -464.8% | · | -473.6% | -3198.9% | -884.8% | · | · | · | · | |
| EBITDA Margin | -479.8% | -454.3% | · | -587.9% | -585.6% | -669.1% | · | -1141.2% | -2355.4% | -856.6% | · | -123440.5% | -284738.1% | · | |
| ROA | · | -5.7% | · | -7.9% | -9.3% | -4.7% | · | -4.7% | -22.5% | -10.1% | · | · | · | · | |
| ROE | · | -16.1% | · | -23.3% | -23.8% | -10.1% | · | -10.7% | -55.5% | -17.1% | · | · | · | · | |
| ROIC | · | -5.7% | · | -5.7% | -11.2% | -10.2% | · | -15.7% | -24.4% | -17.2% | · | · | · | · |
Liquidity & Solvency 5
| Metric | Trend | Q3 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 | Q4 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | · | 11.0 | · | 9.7 | 4.4 | 4.7 | · | 3.8 | 4.0 | 4.9 | · | · | · | · | |
| Quick Ratio | · | 10.5 | · | 9.3 | 4.0 | 4.3 | · | 3.4 | 3.7 | 4.6 | · | · | · | · | |
| Debt / Equity | · | 2.2 | · | 1.8 | 0.9 | 0.8 | · | 1.1 | 1.1 | 0.8 | · | · | · | · | |
| LT Debt / Equity | · | 2.2 | · | 1.8 | 0.8 | 0.7 | · | 1.0 | 1.0 | 0.7 | · | · | · | · | |
| Interest Coverage | · | · | · | · | · | · | · | · | · | -42.3 | · | -40.8 | · | · |
Efficiency 3
| Metric | Trend | Q3 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 | Q4 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | · | 0.0 | · | 0.0 | 0.0 | 0.0 | · | 0.0 | 0.0 | 0.0 | · | · | · | · | |
| Inventory Turnover | · | 0.4 | · | 0.5 | 0.5 | 0.6 | · | 1.0 | 0.9 | 1.9 | · | · | · | · | |
| Receivables Turnover | · | 2.2 | · | 2.4 | 2.5 | 2.2 | · | 4.5 | 4.4 | 6.0 | · | · | · | · |
Valuation (TTM) 14
| Metric | Trend | Q3 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 | Q4 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $32M | $28M | · | $25M | $21M | $18M | · | $14M | $9M | $6M | · | $79.0K | $5M | · | |
| Net Income TTM | $-180M | $-160M | · | $-144M | $-206M | $-208M | · | $-201M | $-243M | $-200M | · | $-302M | $-239M | · | |
| Market Cap | · | $1.10B | · | $2.17B | $1.91B | $1.43B | · | $1.70B | $2.71B | $1.36B | · | · | · | · | |
| Enterprise Value | · | $1.10B | · | $2.14B | $1.88B | $1.37B | · | $1.67B | $2.64B | $1.27B | · | · | · | · | |
| P/E | -6.2 | -6.4 | · | -11.3 | -7.9 | -5.7 | · | -6.4 | -9.6 | -5.5 | · | -9.3 | -8.7 | · | |
| P/S | · | 39.1 | · | 87.4 | 92.4 | 77.7 | · | 125.0 | 292.0 | 245.6 | · | · | · | · | |
| P/B | · | 4.6 | · | 7.4 | 9.4 | 6.1 | · | 10.1 | 15.9 | 5.9 | · | · | · | · | |
| P / Tangible Book | · | 5.6 | · | 8.7 | 12.1 | 7.6 | · | 14.4 | 22.7 | 7.7 | · | · | · | · | |
| P / Cash Flow | · | -33.3 | · | · | · | -84.8 | · | · | · | -38.8 | · | · | · | · | |
| P / FCF | · | -30.4 | · | · | · | -61.9 | · | · | · | -27.1 | · | · | · | · | |
| EV / EBITDA | · | -31.9 | · | -45.6 | -43.1 | -40.0 | · | -34.0 | -29.7 | -28.2 | · | · | · | · | |
| EV / FCF | · | -30.4 | · | · | · | -58.9 | · | · | · | -25.4 | · | · | · | · | |
| EV / Revenue | · | 39.2 | · | 86.1 | 91.3 | 74.0 | · | 123.5 | 284.4 | 230.2 | · | · | · | · | |
| Earnings Yield | -16.2% | -15.6% | · | -8.8% | -12.6% | -17.5% | · | -15.5% | -10.4% | -18.1% | · | -10.8% | -11.5% | · |
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
Income Statement
| 2025-12-28 | 2024-12-29 | 2023-12-31 | 2023-01-01 | 2022-01-02 | |
|---|---|---|---|---|---|
| Revenue | $32M | $23M | $8M | $6M | $0 |
| Gross Margin % | — | -8.9% | -725.0% | -274.7% | — |
| Operating Margin % | — | -1051.7% | -3012.2% | -2128.0% | 37177.5% |
| Net Income | $-157M | $-222M | $-214M | $-52M | $-126M |
| Diluted EPS | $-0.75 | $-1.19 | $-1.30 | $-0.82 | $-1.07 |
Balance Sheet
| 2025-12-28 | 2024-12-29 | 2023-12-31 | 2023-01-01 | 2022-01-02 | |
|---|---|---|---|---|---|
| Debt / Equity | — | 0.7 | 0.7 | — | — |
| Current Ratio | — | 5.5 | 5.3 | 14.3 | 19.3 |
| Quick Ratio | — | 5.2 | 5.0 | 14.0 | 18.7 |
Cash Flow
| 2025-12-28 | 2024-12-29 | 2023-12-31 | 2023-01-01 | 2022-01-02 | |
|---|---|---|---|---|---|
| Free Cash Flow | — | $-185M | $-166M | $-119M | $-95M |
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Institutional owners (13F) 367 filers · $580.6M 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 |
|---|---|---|---|---|
| 45 (-9 vs prior Q) | 34 (-18 vs prior Q) | 119 (+14 vs prior Q) | 101 (-14 vs prior Q) | +19.7M |
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 | $51,559,460 | 8,494,145 | 8.88% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $50,830,842 | 8,374,109 | 8.75% | Shares |
| UBS Group AG | $29,243,220 | 4,817,664 | 5.04% | Call option |
| Electron Capital Partners, LLC | $29,063,755 | 4,788,098 | 5.01% | Shares |
| STATE STREET CORP | $28,655,505 | 4,720,841 | 4.94% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $27,085,498 | 4,461,172 | 4.67% | Shares |
| MORGAN STANLEY | $17,474,941 | 2,878,903 | 3.01% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $15,853,626 | 2,611,800 | 2.73% | Call option |
| FRED ALGER MANAGEMENT, LLC | $12,733,889 | 2,097,840 | 2.19% | Shares |
| CenterBook Partners LP | $12,394,448 | 2,041,919 | 2.13% | Shares |
| MASTERS CAPITAL MANAGEMENT LLC | $12,140,000 | 2,000,000 | 2.09% | Shares |
| TUDOR INVESTMENT CORP ET AL | $10,119,479 | 1,667,130 | 1.74% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $10,010,492 | 1,649,175 | 1.72% | Shares |
| JANE STREET GROUP, LLC | $9,937,804 | 1,637,200 | 1.71% | Call option |
| WOLVERINE ASSET MANAGEMENT LLC | $9,379,971 | 1,545,300 | 1.62% | Put option |
| CITADEL ADVISORS LLC | $9,018,806 | 1,485,800 | 1.55% | Call option |
| Connor, Clark & Lunn Investment Management Ltd. | $8,689,053 | 1,431,475 | 1.50% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $8,301,805 | 1,367,678 | 1.43% | Shares |
| TORONTO DOMINION BANK | $7,277,438 | 1,198,919 | 1.25% | Shares |
| GOLDMAN SACHS GROUP INC | $7,199,688 | 1,186,110 | 1.24% | Shares |
| WOLVERINE TRADING, LLC | $6,959,060 | 698,000 | 1.20% | Call option |
| BARCLAYS PLC | $6,485,637 | 1,068,474 | 1.12% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $6,240,567 | 1,028,100 | 1.07% | Put option |
| MASTERS CAPITAL MANAGEMENT LLC | $6,070,000 | 1,000,000 | 1.05% | Call option |
| D. E. Shaw & Co., Inc. | $5,798,052 | 955,198 | 1.00% | Shares |
| JANE STREET GROUP, LLC | $5,766,500 | 950,000 | 0.99% | Put option |
| Refined Wealth Management | $5,128,240 | 844,850 | 0.88% | Shares |
| TWO SIGMA ADVISERS, LP | $4,867,729 | 665,900 | 0.84% | Shares |
| Sonora Investment Management Group, LLC | $4,579,909 | 459,369 | 0.79% | Shares |
| STIFEL FINANCIAL CORP | $4,215,977 | 694,556 | 0.73% | Shares |
| FIRST TRUST ADVISORS LP | $3,556,164 | 585,859 | 0.61% | Shares |
| GILDER GAGNON HOWE & CO LLC | $3,481,101 | 573,493 | 0.60% | Shares |
| CITADEL ADVISORS LLC | $3,456,258 | 569,400 | 0.60% | Put option |
| LPL Financial LLC | $3,426,934 | 564,569 | 0.59% | Shares |
| BLAIR WILLIAM & CO/IL | $3,331,085 | 548,779 | 0.57% | Shares |
| PEAK6 LLC | $3,036,214 | 500,200 | 0.52% | Call option |
| BARCLAYS PLC | $3,035,000 | 500,000 | 0.52% | Call option |
| Focus Partners Wealth | $3,033,422 | 499,740 | 0.52% | Shares |
| Squarepoint Ops LLC | $2,894,194 | 476,803 | 0.50% | Shares |
| NOMURA HOLDINGS INC | $2,879,001 | 474,300 | 0.50% | Call option |
| MILLENNIUM MANAGEMENT LLC | $2,849,598 | 469,456 | 0.49% | Shares |
| Perennial Investment Advisors, LLC | $2,805,140 | 462,133 | 0.48% | Shares |
| CAPITAL FUND MANAGEMENT S.A. | $2,796,655 | 460,734 | 0.48% | Shares |
| SCOTIA CAPITAL INC. | $2,769,470 | 455,801 | 0.48% | Shares |
| Point72 Asset Management, L.P. | $2,648,341 | 436,300 | 0.46% | Put option |
| Swiss National Bank | $2,381,261 | 392,300 | 0.41% | Shares |
| Point72 Asset Management, L.P. | $2,370,335 | 390,500 | 0.41% | Call option |
| XTX Topco Ltd | $2,307,935 | 380,220 | 0.40% | Shares |
| UBS Group AG | $2,288,439 | 377,008 | 0.39% | Shares |
| BlackRock, Inc. | $2,235,617 | 368,306 | 0.39% | Shares |
| WOLVERINE TRADING, LLC | $2,234,277 | 224,100 | 0.38% | Put option |
| McGowan Group Asset Management, Inc. | $2,210,604 | 364,185 | 0.38% | Shares |
| Brevan Howard Capital Management LP | $2,027,216 | 333,973 | 0.35% | Shares |
| Walleye Trading LLC | $1,920,548 | 316,400 | 0.33% | Call option |
| BANK OF AMERICA CORP /DE/ | $1,891,278 | 311,578 | 0.33% | Shares |
| Headlands Technologies LLC | $1,831,811 | 301,781 | 0.32% | Shares |
| Clear Street Group Inc. | $1,821,000 | 300,000 | 0.31% | Call option |
| Register Financial Advisors LLC | $1,806,432 | 297,600 | 0.31% | Shares |
| Trexquant Investment LP | $1,791,645 | 295,164 | 0.31% | Shares |
| OPPENHEIMER & CO INC | $1,745,453 | 287,554 | 0.30% | Shares |
| Parkside Investments, LLC | $1,672,522 | 275,539 | 0.29% | Shares |
| RHUMBLINE ADVISERS | $1,546,422 | 254,767 | 0.27% | Shares |
| WEALTH EFFECTS LLC | $1,505,489 | 248,021 | 0.26% | Shares |
| TWO SIGMA INVESTMENTS, LP | $1,376,621 | 226,791 | 0.24% | Shares |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM | $1,310,742 | 253,039 | 0.23% | Shares |
| D. E. Shaw & Co., Inc. | $1,304,443 | 214,900 | 0.22% | Call option |
| Balyasny Asset Management L.P. | $1,274,700 | 210,000 | 0.22% | Put option |
| Advisory Services Network, LLC | $1,232,807 | 203,098 | 0.21% | Shares |
| WHITE PINE CAPITAL LLC | $1,176,833 | 193,877 | 0.20% | Shares |
| Walleye Trading LLC | $1,141,160 | 188,000 | 0.20% | Put option |
| WELLS FARGO & COMPANY/MN | $1,136,553 | 187,241 | 0.20% | Shares |
| GROUP ONE TRADING LLC | $1,098,154 | 180,915 | 0.19% | Shares |
| Cetera Investment Advisers | $1,085,061 | 178,758 | 0.19% | Shares |
| Intellectus Partners, LLC | $1,065,941 | 175,608 | 0.18% | Shares |
| Schonfeld Strategic Advisors LLC | $1,065,042 | 175,460 | 0.18% | Shares |
| ALLIANCEBERNSTEIN L.P. | $1,063,713 | 205,350 | 0.18% | Shares |
| Walleye Capital LLC | $1,007,620 | 166,000 | 0.17% | Call option |
| VANGUARD ASSET MANAGEMENT, Ltd | $979,747 | 161,408 | 0.17% | Shares |
| Bank of New York Mellon Corp | $977,197 | 160,988 | 0.17% | Shares |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. | $960,559 | 158,247 | 0.17% | Shares |
| Point72 Asset Management, L.P. | $943,824 | 155,490 | 0.16% | Shares |
| Quantinno Capital Management LP | $910,585 | 150,014 | 0.16% | Shares |
| Walleye Capital LLC | $885,127 | 145,820 | 0.15% | Shares |
| WOLVERINE TRADING, LLC | $873,621 | 87,625 | 0.15% | Shares |
| FLPUTNAM INVESTMENT MANAGEMENT CO | $865,631 | 142,608 | 0.15% | Shares |
| SORA INVESTORS LLC | $849,800 | 140,000 | 0.15% | Shares |
| Deuterium Capital Management, LLC | $839,936 | 138,375 | 0.14% | Shares |
| CITADEL ADVISORS LLC | $833,126 | 137,253 | 0.14% | Shares |
| Cauble & Harre Wealth Management, Inc. | $795,704 | 131,088 | 0.14% | Shares |
| Cubist Systematic Strategies, LLC | $789,624 | 79,200 | 0.14% | Call option |
| H D Vest Advisory Services | $762,802 | 73,772 | 0.13% | Shares |
| Zurcher Kantonalbank (Zurich Cantonalbank) | $759,327 | 125,095 | 0.13% | Shares |
| CITIGROUP INC | $750,179 | 123,588 | 0.13% | Shares |
| Holocene Advisors, LP | $742,009 | 122,242 | 0.13% | Shares |
| Quinn Opportunity Partners LLC | $728,400 | 120,000 | 0.13% | Shares |
| Americana Partners, LLC | $723,307 | 119,161 | 0.12% | Shares |
| AXQ CAPITAL, LP | $716,958 | 118,115 | 0.12% | Shares |
| MetLife Investment Management, LLC | $710,912 | 117,119 | 0.12% | Shares |
| CSS LLC/IL | $683,482 | 112,600 | 0.12% | Put option |
| Balyasny Asset Management L.P. | $668,283 | 110,096 | 0.12% | Shares |
Company insiders 20 insiders · 6 officers · 10 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Harrold J Rust | President and CEO | June 6, 2022 A | 93,067 | 0 | 0 | $0 |
| Ryan A Benton | Chief Financial Officer | July 14, 2026 F | 894,556 | 0 | 0 | $0 |
| Steffen Pietzke | Chief Financial Officer | July 6, 2022 F | 173,432 | 0 | 0 | $0 |
| Edward J Hejlek | Chief Legal Officer, General Counsel and Secretary | July 6, 2022 F | 306,407 | 0 | 0 | $0 |
| Gardner Cameron Dales | Chief Commercial Officer | June 6, 2022 A | 1,049,565 | 0 | 0 | $0 |
| Ashok Lahiri | Chief Technology Officer | June 6, 2022 A | 1,411,993 | 0 | 0 | $0 |
| Pegah Ebrahimi | Director | June 11, 2026 A | 102,043 | 0 | 0 | $0 |
| Joseph Ian Malchow | Director | June 11, 2026 A | 467,367 | 0 | 0 | $0 |
| Gregory Reichow | Director | June 11, 2026 A | 87,385 | 0 | 0 | $0 |
| Bernard Gutmann | Director | June 11, 2026 A | 99,063 | 0 | 0 | $0 |
| Daniel J Mccranie | Director | June 11, 2026 A | 69,982 | 0 | 0 | $0 |
| Thurman J. Rodgers | Director | June 11, 2026 A | 34,740 | 0 | 2 | $-1,587,701 |
| Betsy S Atkins | Director | June 11, 2026 A | 151,144 | 0 | 0 | $0 |
| Emmanuel T Hernandez | Director | June 15, 2022 A | 473,274 | 0 | 0 | $0 |
| Michael J. Petrick | Director | Oct. 20, 2021 M | 1,054 | 0 | 0 | $0 |
| Park West Asset Management LLC | 10% owner | July 14, 2021 J | 12,472,625 | 0 | 0 | $0 |
| Kristina Truong | — | Aug. 13, 2026 F | 302,881 | 0 | 0 | $0 |
| Arthi Chakravarthy | — | Aug. 8, 2026 F | 583,535 | 0 | 0 | $0 |
| Rajendra K Talluri | — | Aug. 8, 2026 F | 2,958,373 | 0 | 0 | $0 |
| Michael Vyvoda | — | Aug. 5, 2026 F | 942,131 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
Activists & 5%+ owners 1 position
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 |
|---|---|---|---|---|---|
| Thurman J. Rodgers, Rodgers Massey Revocable Living Trust dtd 4/4/11, Rodgers Family Freedom and Free Markets Charitable Trust ×4 filings | July 22, 2025 | 14.40% | Amendment | — | 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 32 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 |
|---|---|---|---|---|
| CTEC · Global X Funds | 1.15% | 48,834 NS | May 31, 2026 | N-PORT |
| PBW · Invesco Exchange-Traded Fund Trust | 1.14% | 1,109,567 SH | Aug. 8, 2026 | Daily |
| VTWG · VANGUARD SCOTTSDALE FUNDS | 0.06% | 189,801 SH | Aug. 8, 2026 | Daily |
| IWO · iShares Trust | 0.05% | 1,787,853 SH | Aug. 8, 2026 | Daily |
| BBSC · J.P. Morgan Exchange-Traded Fund Tr… | 0.05% | 56,545 NS | April 30, 2026 | N-PORT |
| VTWO · VANGUARD SCOTTSDALE FUNDS | 0.04% | 1,142,735 SH | Aug. 8, 2026 | Daily |
| RSSL · Global X Funds | 0.04% | 83,540 NS | April 30, 2026 | N-PORT |
| ITWO · ProShares Trust | 0.04% | 9,074 NS | May 31, 2026 | N-PORT |
| SCHA · SCHWAB STRATEGIC TRUST | 0.03% | 937,989 NS | May 31, 2026 | N-PORT |
| VBK · VANGUARD INDEX FUNDS | 0.03% | 2,477,334 SH | Aug. 8, 2026 | Daily |
| IWM · iShares Trust | 0.03% | 5,045,847 SH | Aug. 8, 2026 | Daily |
| ISCG · iShares Trust | 0.03% | 60,169 SH | Aug. 8, 2026 | Daily |
| UWM · ProShares Trust | 0.02% | 7,098 NS | May 31, 2026 | N-PORT |
| VIS · VANGUARD WORLD FUND | 0.02% | 238,824 SH | Aug. 8, 2026 | Daily |
| FIDU · FIDELITY COVINGTON TRUST | 0.02% | 57,616 NS | April 30, 2026 | N-PORT |
| URTY · ProShares Trust | 0.02% | 7,176 NS | May 31, 2026 | N-PORT |
| PRFZ · Invesco Exchange-Traded Fund Trust | 0.01% | 84,622 SH | Aug. 8, 2026 | Daily |
| ISCB · iShares Trust | 0.01% | 8,557 SH | Aug. 8, 2026 | Daily |
| VXF · VANGUARD INDEX FUNDS | 0.01% | 2,249,521 SH | Aug. 8, 2026 | Daily |
| VB · VANGUARD INDEX FUNDS | 0.01% | 4,264,229 SH | Aug. 8, 2026 | Daily |
| MSSM · MORGAN STANLEY PATHWAY FUNDS | 0.01% | 7,041 NS | May 31, 2026 | N-PORT |
| WSML · iShares Trust | 0.01% | 10,957 SH | Aug. 8, 2026 | Daily |
| HDG · ProShares Trust | 0.01% | 180 NS | May 31, 2026 | N-PORT |
| ONEQ · Fidelity Commonwealth Trust | 0.01% | 80,157 NS | May 31, 2026 | N-PORT |
| TILT · FlexShares Trust | 0.00% | 6,160 NS | April 30, 2026 | N-PORT |
| SCHB · SCHWAB STRATEGIC TRUST | 0.00% | 110,519 NS | May 31, 2026 | N-PORT |
| ITOT · iShares Trust | 0.00% | 283,139 SH | Aug. 8, 2026 | Daily |
| IWV · iShares Trust | 0.00% | 38,891 SH | Aug. 8, 2026 | Daily |
| VTI · VANGUARD INDEX FUNDS | 0.00% | 5,896,928 SH | Aug. 8, 2026 | Daily |
| VT · VANGUARD INTERNATIONAL EQUITY INDEX… | 0.00% | 155,417 SH | Aug. 8, 2026 | Daily |
| VTHR · VANGUARD SCOTTSDALE FUNDS | 0.00% | 16,509 SH | Aug. 8, 2026 | Daily |
| ESGV · VANGUARD WORLD FUND | 0.00% | 44,677 SH | Aug. 8, 2026 | Daily |