ERII Energy Recovery, Inc. - Common Stock
$7.97
Price · Aug 18, 2026
Fundamentals as of Aug 5, 2026
52W Range
$8–$18
4% of range
Analyst Rating
BUY
10 analysts
Price Target
$9
+17% upside
P/E (TTM)
18.7
ROE
11.0%
Net Profit Margin
17.0%
ERII Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$7.97
Market Cap
$415M
P/E (TTM)
18.7
EPS (TTM)
$0.42
Revenue (TTM)
$135M
Div Yield
—
ROE
11.0%
Debt/Equity
—
52W Range
$8 – $18
ERII 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
$135M
2016-12-31
→
2025-12-31
EPS
$0.42
2016-12-31
→
2025-12-31
Free Cash Flow
$17M
2016-12-31
→
2025-12-31
Margins
17.0%
2016-12-31
→
2025-12-31
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Metric
5Y trend
ERII
Peer Median
P/E (TTM)
18.7
38.0
P/S (TTM)
3.1
1.6
P/B
2.0
1.6
Price / FCF
23.8
—
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Metric
5Y trend
ERII
Peer Median
Gross Margin
65.1%
33.5%
Operating Margin
17.7%
—
Net Profit Margin
17.0%
1.6%
ROA
9.7%
0.92%
ROE
11.0%
1.6%
ROIC
9.6%
—
Financial Health Debt, liquidity, solvency — balance sheet strength
Metric
5Y trend
ERII
Peer Median
Current Ratio
10.4
2.3
Quick Ratio
8.8
—
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Metric
5Y trend
ERII
Peer Median
Revenue YoY
-6.9%
—
Revenue CAGR 3Y
2.4%
—
Revenue CAGR 5Y
2.6%
—
EPS YoY
5.0%
—
Net Income YoY
-0.38%
—
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
Metric
5Y trend
ERII
Peer Median
ERII Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
BUY
10 analysts
- Strong Buy 2 20.0%
- Buy 4 40.0%
- Hold 4 40.0%
- Sell 0 0.0%
- Strong Sell 0 0.0%
12-Month Price Target
3 analysts · 2026-08-16
Median
$8.00
Mean
$9.33
← Below all targets
$7.97
Low
$8.00
High
$12.00
Median target
$8.00
+0.4%
Mean target
$9.33
+17.1%
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
-0.04%
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| June 30, 2026 | $-0.03 | $-0.02 | -0.01% |
| March 31, 2026 | $-0.11 | $-0.10 | -0.01% |
| Dec. 31, 2025 | $0.53 | $0.68 | -0.15% |
| Sept. 30, 2025 | $0.12 | $0.11 | 0.01% |
| June 30, 2025 | $0.07 | $0.00 | 0.07% |
| March 31, 2025 | $-0.18 | $-0.03 | -0.15% |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| ERII | $712M | 32.1 | -6.9% | 17.0% | 11.0% | 65.1% |
| DDD | — | 9.3 | -12.1% | 7.7% | 12.4% | 33.9% |
| ELMT | — | — | — | — | — | — |
| CMCO | $418M | -2.0 | 23.9% | -19.2% | -19.4% | 30.1% |
| LXFR | $360M | 48.3 | -1.9% | 2.0% | 3.3% | 23.2% |
| AIRJ | — | — | — | — | — | — |
| FSTR | $273M | 39.1 | 1.7% | 1.4% | 4.3% | 21.1% |
| VELO | $338M | -3.2 | 12.1% | -155.2% | -209.7% | -16.1% |
| RR | — | -10.7 | 19.0% | -972.7% | — | 35.9% |
| NNBR | $64M | -1.2 | -9.1% | -8.1% | -72.7% | — |
| PDYN | — | — | — | — | — | — |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement 17
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $135M | $145M | $128M | $126M | $104M | $119M | $87M | $75M | $69M | $58M | $44M | |
| Cost of Revenue | $47M | $48M | $41M | $38M | $33M | · | · | · | $19M | $18M | $19M | |
| Gross Profit | $88M | $97M | $87M | $87M | $71M | · | · | · | $39M | $32M | $25M | |
| R&D Expense | $13M | $16M | $17M | $18M | $20M | $23M | $23M | $17M | $13M | $10M | $8M | |
| SG&A Expense | $30M | $33M | $29M | $28M | $25M | $26M | $23M | $21M | $17M | $17M | $20M | |
| Operating Expenses | $64M | $77M | $68M | $63M | $57M | $59M | $56M | $47M | $41M | $37M | $37M | |
| Operating Income | $24M | $20M | $19M | $25M | $14M | $31M | $10M | $10M | $9M | $3M | $-12M | |
| Interest Expense | · | · | · | · | · | $0 | $0 | $1.0K | $2.0K | $3.0K | $42.0K | |
| Other Non-op | $92.0K | $-207.0K | $-101.0K | $334.0K | $-31.0K | $-74.0K | $-118.0K | $-80.0K | $-188.0K | $-19.0K | $-192.0K | |
| Pretax Income | $28M | $26M | $23M | $26M | $14M | $32M | $12M | $11M | $10M | $4M | $-12M | |
| Income Tax | $5M | $3M | $1M | $2M | $-265.0K | $6M | $1M | $-11M | $-8M | $-6.0K | $-334.0K | |
| Net Income | $23M | $23M | $22M | $24M | $14M | $26M | $11M | $22M | $18M | $4M | $-12M | |
| EPS (Basic) | $0.43 | $0.40 | $0.38 | $0.43 | $0.25 | $0.47 | $0.20 | $0.41 | $0.34 | $0.07 | $-0.22 | |
| EPS (Diluted) | $0.42 | $0.40 | $0.37 | $0.42 | $0.24 | $0.47 | $0.19 | $0.40 | $0.33 | $0.07 | $-0.22 | |
| Shares (Basic) | 53,802,000 | 57,213,000 | 56,444,000 | 56,221,000 | 56,993,000 | 55,709,000 | 54,740,000 | 53,764,000 | 53,701,000 | 52,341,000 | 52,151,000 | |
| Shares (Diluted) | 54,158,000 | 57,822,000 | 57,740,000 | 57,641,000 | 58,723,000 | 56,637,000 | 56,067,000 | 55,338,000 | 55,612,000 | 55,451,000 | 52,151,000 | |
| EBITDA | $28M | $24M | $23M | $30M | $20M | $37M | · | $14M | $7M | $357.0K | $-8M |
Balance Sheet 29
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $48M | $30M | $68M | $56M | $74M | $94M | $26M | $22M | $28M | $61M | $100M | |
| Short-term Investments | $27M | $48M | $40M | $33M | $31M | $20M | $59M | $73M | $70M | $39M | $257.0K | |
| Receivables | $77M | $64M | $47M | $34M | $21M | $12M | $13M | $10M | $12M | $12M | $12M | |
| Inventory | $24M | $25M | $26M | $28M | $20M | $12M | $10M | $7M | $6M | $5M | $7M | |
| Prepaid Expense | $5M | $7M | $4M | $6M | $5M | $5M | $5M | $3M | $1M | $1M | $943.0K | |
| Current Assets | $181M | $174M | $185M | $158M | $152M | $143M | $113M | $120M | $126M | $122M | $124M | |
| PP&E (Net) | $13M | $15M | $19M | $20M | $20M | $20M | $19M | $15M | $13M | $9M | $11M | |
| PP&E (Gross) | $55M | $55M | $56M | $54M | $55M | $53M | $48M | $41M | $38M | $30M | $29M | |
| Accum. Depreciation | $42M | $39M | $37M | $34M | $34M | $32M | $30M | $27M | $24M | $21M | $18M | |
| Goodwill | $13M | $13M | $13M | $13M | $13M | $13M | $13M | $13M | $13M | $13M | $13M | |
| Intangibles | · | · | · | $0 | $37.0K | $49.0K | $65.0K | $640.0K | $1M | $2M | $3M | |
| Other Non-current Assets | $577.0K | $391.0K | $388.0K | $366.0K | $367.0K | $988.0K | $598.0K | $368.0K | $12.0K | $4.0K | $2.0K | |
| Total Assets | $232M | $243M | $253M | $217M | $214M | $204M | $189M | $180M | $164M | $149M | $152M | |
| Accounts Payable | $2M | $3M | $3M | $814.0K | $909.0K | $1M | $1M | $1M | $4M | $2M | $2M | |
| Current Liabilities | $17M | $23M | $21M | $18M | $20M | $16M | $28M | $27M | $30M | $17M | $16M | |
| Capital Leases | $7M | $9M | $11M | $13M | $15M | $16M | $12M | $13M | $2M | · | · | |
| Deferred Tax | · | · | · | · | · | · | · | $0 | $0 | $2M | $2M | |
| Other Non-current Liabilities | $1M | $57.0K | $207.0K | $121.0K | $247.0K | $518.0K | $278.0K | · | · | · | $718.0K | |
| Total Liabilities | $25M | $33M | $33M | $32M | $35M | $33M | $53M | $66M | $73M | $84M | $88M | |
| Long-term Debt | · | · | · | · | · | · | · | $0 | $27.0K | $38.0K | $48.0K | |
| Total Debt | · | · | · | · | · | · | · | $0 | $27.0K | $38.0K | $48.0K | |
| Common Stock | $67.0K | $66.0K | $65.0K | $64.0K | $64.0K | $62.0K | $61.0K | $59.0K | $58.0K | $57.0K | $55.0K | |
| Paid-in Capital | $244M | $235M | $218M | $205M | $196M | $179M | $170M | $158M | $149M | $140M | $130M | |
| Retained Earnings | $129M | $106M | $83M | $61M | $37M | $23M | $-4M | $-14M | $-37M | $-58M | $-59M | |
| Treasury Stock | $167M | $131M | $80M | $80M | $54M | $30M | $30M | $30M | $20M | $16M | $7M | |
| AOCI | $-94.0K | $98.0K | $-44.0K | $-349.0K | $-149.0K | $53.0K | $-37.0K | $-133.0K | $-125.0K | $-118.0K | $-64.0K | |
| Stockholders' Equity | $206M | $210M | $220M | $185M | $179M | $172M | $136M | $113M | $92M | $68M | $64M | |
| Liabilities + Equity | $232M | $243M | $253M | $217M | $214M | $204M | $189M | $180M | $164M | $149M | $152M | |
| Shares Outstanding | 52,806,822 | 54,785,861 | 56,880,947 | 56,076,879 | 63,544,419 | 61,798,004 | 60,717,702 | 59,396,020 | 58,168,433 | 56,884,000 | 54,948,000 |
Cash Flow 19
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $4M | $4M | $4M | $5M | $5M | $4M | $4M | $4M | $4M | $4M | $4M | |
| Stock-based Comp | $8M | $10M | $8M | $7M | $6M | $5M | $6M | $5M | $4M | $3M | $4M | |
| Deferred Tax | $2M | $1M | $-131.0K | $1M | $-355.0K | $6M | $1M | $-10M | $-9M | $-68.0K | $-351.0K | |
| Amort. of Intangibles | · | · | · | · | $12.0K | $16.0K | $575.0K | $630.0K | $631.0K | $631.0K | $635.0K | |
| Restructuring | $313.0K | $2M | $0 | $0 | · | · | · | · | · | · | · | |
| Other Non-cash | $-17M | $-18M | $-7M | $-24M | $-12M | $-25M | · | $-13M | $-8M | · | $77M | |
| Operating Cash Flow | $19M | $21M | $26M | $13M | $14M | $17M | $5M | $8M | $3M | $5M | $69M | |
| CapEx | $1M | $1M | $3M | $4M | $7M | $7M | $7M | $5M | $7M | $1M | $572.0K | |
| Investing Cash Flow | $34M | $-16M | $-19M | $-7M | $-21M | $47M | $-7M | $-10M | $-39M | $-40M | · | |
| Debt Issued | · | · | · | · | · | · | · | · | $0 | $0 | $55.0K | |
| Net Debt Issued | · | · | · | · | · | $0 | · | $-27.0K | $-11.0K | $-10.0K | $48.0K | |
| Stock Issued | $2M | $7M | $5M | $3M | $11M | $4M | $6M | $4M | $6M | $7M | $1M | |
| Stock Repurchased | $36M | $50M | $0 | $27M | $23M | $0 | $0 | $10M | $4M | $9M | $0 | |
| Net Stock Activity | $-34M | $-43M | $5M | $-24M | $-13M | $4M | · | $-6M | $1M | $-3M | $1M | |
| Financing Cash Flow | $-35M | $-43M | $5M | $-24M | $-13M | $4M | $6M | $-6M | $951.0K | $-3M | · | |
| Net Change in Cash | $18M | $-38M | $12M | $-18M | $-20M | $68M | $4M | $-8M | $-35M | $-38M | $84M | |
| Taxes Paid | $1M | · | · | · | · | · | · | · | · | · | · | |
| Free Cash Flow | $17M | $19M | $23M | $8M | $7M | $10M | · | $2M | $-4M | $4M | $68M | |
| Levered FCF | · | · | · | · | · | $10M | · | $2M | $-4M | $4M | $68M |
Profitability 8
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 65.1% | 66.9% | 67.8% | · | · | · | · | · | 67.2% | 64.1% | 56.2% | |
| Operating Margin | 17.7% | 13.6% | 14.8% | 19.8% | 13.3% | 26.3% | · | 13.4% | 5.6% | 0.72% | -27.0% | |
| Net Margin | 17.0% | 15.9% | 16.8% | 19.1% | 13.7% | 22.2% | · | 29.6% | 21.2% | 2.1% | -26.7% | |
| Pretax Margin | 20.4% | 17.8% | 17.7% | 20.8% | 13.5% | 27.0% | · | 15.3% | 7.3% | 1.3% | -27.4% | |
| EBITDA Margin | 20.5% | 16.4% | 18.0% | 23.6% | 19.0% | 30.8% | · | 18.6% | 11.9% | 0.72% | -18.2% | |
| ROA | 9.7% | 9.3% | 9.2% | 11.2% | 6.8% | 13.4% | · | 12.8% | 8.0% | 0.69% | -9.8% | |
| ROE | 11.0% | 10.4% | 10.4% | 13.6% | 8.0% | 15.7% | · | 19.8% | 16.4% | 1.6% | -17.4% | |
| ROIC | 9.6% | 8.4% | 8.2% | 12.4% | 7.9% | 15.0% | · | 17.0% | 11.8% | 0.88% | -18.0% |
Liquidity & Solvency 5
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 10.4 | 7.4 | 8.6 | 8.6 | 7.7 | 9.1 | · | 4.4 | 6.4 | 7.1 | 7.7 | |
| Quick Ratio | 8.8 | 6.1 | 7.2 | 6.8 | 6.4 | 8.0 | · | 3.9 | 5.6 | 6.5 | 7.0 | |
| Debt / Equity | · | · | · | · | · | · | · | 0.0 | 0.0 | 0.0 | 0.0 | |
| LT Debt / Equity | · | · | · | · | · | · | · | 0.0 | 0.0 | 0.0 | 0.0 | |
| Interest Coverage | · | · | · | · | · | · | · | 9978.0 | 1638.0 | 119.0 | -280.7 |
Efficiency 3
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.6 | 0.6 | 0.5 | 0.6 | 0.5 | 0.6 | · | 0.4 | 0.4 | 0.3 | 0.4 | |
| Inventory Turnover | 1.9 | 1.9 | 1.5 | · | · | · | · | · | 3.8 | 3.2 | 2.6 | |
| Receivables Turnover | 1.9 | 2.6 | 3.2 | 4.6 | 6.4 | 9.6 | · | 6.6 | 4.8 | 4.3 | 3.9 |
Growth Rates 9
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue YoY | -6.9% | 12.9% | 2.2% | 20.9% | -12.7% | · | · | · | · | · | · | |
| Revenue CAGR 3Y | 2.4% | 11.7% | 2.6% | · | · | · | · | · | · | · | · | |
| Revenue CAGR 5Y | 2.6% | · | · | · | · | · | · | · | · | · | · | |
| EPS YoY | 5.0% | 8.1% | -11.9% | 75.0% | -48.9% | · | · | · | · | · | · | |
| EPS CAGR 3Y | 0.00% | 18.6% | -7.7% | · | · | · | · | · | · | · | · | |
| EPS CAGR 5Y | -2.2% | · | · | · | · | · | · | · | · | · | · | |
| Net Income YoY | -0.38% | 7.2% | -10.6% | 68.5% | -45.9% | · | · | · | · | · | · | |
| Net Income CAGR 3Y | -1.5% | 17.3% | -6.6% | · | · | · | · | · | · | · | · | |
| Net Income CAGR 5Y | -2.7% | · | · | · | · | · | · | · | · | · | · |
Valuation (TTM) 14
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $135M | $145M | $128M | $126M | $104M | $119M | $87M | $75M | $69M | $58M | $44M | |
| Net Income TTM | $23M | $23M | $22M | $24M | $14M | $26M | $11M | $22M | $18M | $4M | $-12M | |
| Market Cap | $712M | $805M | $1.07B | $1.15B | $1.22B | $769M | · | $363M | $472M | $550M | $371M | |
| Enterprise Value | · | · | · | · | · | · | · | $268M | $374M | $450M | $271M | |
| P/E | 32.1 | 36.8 | 50.9 | 48.8 | 89.5 | 29.0 | 51.5 | 16.8 | 26.5 | 147.9 | -32.1 | |
| P/S | 5.3 | 5.6 | 8.3 | 9.1 | 11.8 | 6.5 | · | 4.9 | 6.8 | 9.5 | 8.5 | |
| P/B | 3.5 | 3.8 | 4.9 | 6.2 | 6.8 | 4.5 | · | 3.2 | 5.7 | 8.4 | 5.8 | |
| P / Tangible Book | 3.7 | 4.1 | 5.2 | 6.7 | 7.4 | 4.8 | · | · | · | · | · | |
| P / Cash Flow | 38.0 | 39.2 | 41.1 | 91.0 | 90.3 | 45.6 | · | 48.0 | 162.9 | 110.8 | 5.4 | |
| P / FCF | 40.8 | 41.9 | 45.6 | 136.8 | 178.3 | 76.2 | · | 155.8 | -105.3 | 142.8 | 5.4 | |
| EV / EBITDA | · | · | · | · | · | · | · | 19.3 | 53.9 | 1260.0 | -34.1 | |
| EV / FCF | · | · | · | · | · | · | · | 114.9 | -83.4 | 116.7 | 4.0 | |
| EV / Revenue | · | · | · | · | · | · | · | 3.6 | 5.4 | 7.8 | 6.2 | |
| Earnings Yield | 3.1% | 2.7% | 2.0% | 2.1% | 1.1% | 3.5% | 1.9% | 5.9% | 3.8% | 0.68% | -3.1% |
Income Statement 16
| 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 | $12M | $10M | $67M | $32M | $28M | $8M | $67M | $39M | $27M | $12M | $57M | $37M | $21M | $13M | $42M | $30M | |
| Cost of Revenue | · | · | $22M | $11M | $10M | $4M | $20M | $13M | $10M | $5M | $18M | $11M | $7M | $5M | $12M | $9M | |
| Gross Profit | $9M | $3M | $45M | $21M | $18M | $4M | $47M | $25M | $18M | $7M | $39M | $26M | $14M | $8M | $30M | $21M | |
| R&D Expense | $3M | $3M | $3M | $4M | $3M | $3M | $4M | $4M | $4M | $4M | $5M | $4M | $4M | $4M | $4M | $4M | |
| SG&A Expense | $7M | $6M | $6M | $8M | $8M | $9M | $8M | $8M | $10M | $8M | $7M | $7M | $7M | $7M | $7M | $8M | |
| Operating Expenses | $15M | $18M | $14M | $17M | $16M | $17M | $22M | $18M | $20M | $18M | $19M | $17M | $16M | $16M | $15M | $16M | |
| Operating Income | $-6M | $-15M | $31M | $4M | $1M | $-13M | $26M | $7M | $-2M | $-11M | $21M | $9M | $-3M | $-8M | $15M | $5M | |
| Other Non-op | $122.0K | $108.0K | $67.0K | $45.0K | $-26.0K | $6.0K | $-162.0K | $57.0K | $-49.0K | $-53.0K | $28.0K | $-38.0K | $-126.0K | $35.0K | $343.0K | $-5.0K | |
| Pretax Income | $-5M | $-14M | $32M | $5M | $2M | $-11M | $27M | $9M | $-400.0K | $-10M | $22M | $10M | $-2M | $-7M | $15M | $5M | |
| Income Tax | $-2M | $-2M | $5M | $680.0K | $334.0K | $-2M | $3M | $344.0K | $242.0K | $-1M | $2M | $518.0K | $-265.0K | $-1M | $2M | $371.0K | |
| Net Income | $-3M | $-12M | $27M | $4M | $2M | $-10M | $23M | $8M | $-642.0K | $-8M | $20M | $10M | $-2M | $-6M | $14M | $5M | |
| EPS (Basic) | $-0.06 | $-0.23 | $0.50 | $0.07 | $0.04 | $-0.18 | $0.40 | $0.15 | $-0.01 | $-0.14 | $0.35 | $0.17 | $-0.03 | $-0.11 | $0.24 | $0.09 | |
| EPS (Diluted) | $-0.06 | $-0.23 | $0.49 | $0.07 | $0.04 | $-0.18 | $0.40 | $0.15 | $-0.01 | $-0.14 | $0.34 | $0.17 | $-0.03 | $-0.11 | $0.24 | $0.08 | |
| Shares (Basic) | 51,463,000 | 52,660,000 | -108,519,000 | 53,162,000 | 54,257,000 | 54,902,000 | -115,011,000 | 57,756,000 | 57,366,000 | 57,102,000 | -112,590,000 | 56,443,000 | 56,363,000 | 56,228,000 | -112,661,000 | 55,881,000 | |
| Shares (Diluted) | 51,463,000 | 52,660,000 | -108,696,000 | 53,466,000 | 54,486,000 | 54,902,000 | -114,936,000 | 58,290,000 | 57,366,000 | 57,102,000 | -112,820,000 | 57,969,000 | 56,363,000 | 56,228,000 | -114,130,000 | 57,372,000 | |
| EBITDA | $-6M | $-14M | · | · | $1M | $-12M | · | $7M | $-2M | $-10M | · | $9M | $-3M | $-7M | · | $5M |
Balance Sheet 26
| 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 | $61M | $50M | $48M | $47M | $57M | $49M | $30M | $63M | $40M | $71M | $68M | $51M | $44M | $66M | $56M | $52M | |
| Short-term Investments | $32M | $36M | $27M | $23M | $22M | $34M | $48M | $55M | $61M | $47M | · | $33M | $51M | $32M | · | $30M | |
| Receivables | $14M | $39M | $77M | $44M | $33M | $32M | $64M | $32M | $21M | $25M | · | $23M | $15M | $12M | · | $18M | |
| Inventory | $38M | $31M | $24M | $34M | $33M | $32M | $25M | $33M | $34M | $32M | · | $34M | $36M | $33M | · | $32M | |
| Prepaid Expense | $4M | $5M | $5M | $8M | $7M | $6M | $7M | $6M | $4M | $4M | · | $5M | $4M | $5M | · | $6M | |
| Current Assets | $149M | $161M | $181M | $156M | $152M | $155M | $174M | $190M | $159M | $178M | · | $146M | $150M | $148M | · | $139M | |
| PP&E (Net) | $13M | $13M | $13M | $13M | $14M | $15M | $15M | $16M | $17M | $18M | · | $19M | $19M | $20M | · | $19M | |
| PP&E (Gross) | · | · | $55M | · | · | · | $55M | · | · | · | · | · | · | · | · | · | |
| Accum. Depreciation | · | · | $42M | · | · | · | $39M | · | · | · | · | · | · | · | · | · | |
| Goodwill | $11M | $11M | $13M | $13M | $13M | $13M | $13M | $13M | $13M | $13M | · | $13M | $13M | $13M | · | $13M | |
| Intangibles | · | · | · | · | · | · | · | · | · | · | · | · | · | · | · | $29.0K | |
| Other Non-current Assets | $804.0K | $737.0K | $577.0K | $428.0K | $546.0K | $429.0K | $391.0K | $1M | $919.0K | $387.0K | · | $387.0K | $753.0K | $385.0K | · | $365.0K | |
| Total Assets | $198M | $209M | $232M | $210M | $212M | $225M | $243M | $263M | $249M | $244M | · | $223M | $210M | $208M | · | $200M | |
| Accounts Payable | $5M | $3M | $2M | $5M | $3M | $3M | $3M | $3M | $5M | $3M | · | $2M | $2M | $2M | · | $2M | |
| Current Liabilities | $19M | $17M | $17M | $21M | $19M | $18M | $23M | $19M | $20M | $17M | · | $16M | $15M | $13M | · | $17M | |
| Capital Leases | $6M | $6M | $7M | $8M | $8M | $9M | $9M | $10M | $10M | $11M | · | $12M | $12M | $13M | · | $14M | |
| Other Non-current Liabilities | $1M | $1M | $1M | $69.0K | $85.0K | $96.0K | $57.0K | $100.0K | $86.0K | $132.0K | · | $222.0K | $215.0K | $254.0K | · | $127.0K | |
| Total Liabilities | $25M | $25M | $25M | $29M | $27M | $27M | $33M | $29M | $31M | $28M | · | $29M | $28M | $26M | · | $31M | |
| Common Stock | $67.0K | $67.0K | $67.0K | $67.0K | $67.0K | $67.0K | $66.0K | $66.0K | $66.0K | $65.0K | · | $65.0K | $65.0K | $64.0K | · | $64.0K | |
| Paid-in Capital | $247M | $246M | $244M | $242M | $240M | $238M | $235M | $232M | $225M | $222M | · | $212M | $209M | $207M | · | $203M | |
| Retained Earnings | $113M | $116M | $129M | $102M | $98M | $96M | $106M | $82M | $74M | $74M | · | $63M | $53M | $55M | · | $47M | |
| Treasury Stock | $188M | $178M | $167M | $163M | $153M | $135M | $131M | $80M | $80M | $80M | · | $80M | $80M | $80M | · | $80M | |
| AOCI | $-435.0K | $-285.0K | $-94.0K | $34.0K | $37.0K | $75.0K | $98.0K | $149.0K | $-61.0K | $-60.0K | · | $-183.0K | $-127.0K | $-271.0K | · | $-509.0K | |
| Stockholders' Equity | $172M | $184M | $206M | $181M | $185M | $198M | $210M | $234M | $219M | $216M | $220M | $194M | $182M | $182M | $185M | $169M | |
| Liabilities + Equity | $198M | $209M | $232M | $210M | $212M | $225M | $243M | $263M | $249M | $244M | · | $223M | $210M | $208M | · | $200M | |
| Shares Outstanding | 51,174,774 | 52,082,859 | 52,806,822 | 52,979,801 | 53,683,535 | 54,856,712 | 54,785,861 | 57,882,075 | 57,422,763 | 57,329,402 | 56,880,947 | 56,504,548 | 56,405,457 | 56,342,872 | 56,076,879 | 55,982,976 |
Cash Flow 13
| 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 | $1M | $978.0K | $941.0K | $913.0K | $944.0K | $962.0K | $996.0K | $1M | $1M | $1M | $1M | $1M | $1M | $983.0K | $961.0K | $154.0K | |
| Stock-based Comp | $1M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $3M | $3M | $2M | $2M | $2M | $2M | $1M | $1M | |
| Restructuring | $855.0K | $2M | $-226.0K | $0 | $0 | $539.0K | $2M | $0 | $0 | $0 | · | · | · | · | · | · | |
| Other Non-cash | · | $30M | · | · | · | $18M | · | · | · | $10M | · | · | · | $12M | · | · | |
| Operating Cash Flow | $16M | $21M | $7M | $-3M | $4M | $11M | $9M | $-3M | $8M | $6M | $14M | $8M | $-4M | $9M | $6M | $-1M | |
| CapEx | $875.0K | $814.0K | $662.0K | $342.0K | $135.0K | $191.0K | $104.0K | $169.0K | $201.0K | $824.0K | $1M | $330.0K | $570.0K | $279.0K | $1M | $563.0K | |
| Investing Cash Flow | $5M | $-8M | $-3M | $3M | $21M | $13M | $7M | $22M | $-39M | $-5M | $-739.0K | $-1M | $-18M | $1M | $-3M | $9M | |
| Stock Issued | $132.0K | $0 | $432.0K | $381.0K | $367.0K | $1M | $1M | $4M | $312.0K | $1M | $4M | $805.0K | $214.0K | $165.0K | $742.0K | $1M | |
| Stock Repurchased | $10M | $11M | $3M | $11M | $17M | $4M | $50M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $31.0K | |
| Net Stock Activity | · | $-11M | · | · | · | $-4M | · | · | · | $1M | · | · | · | $165.0K | · | · | |
| Financing Cash Flow | $-10M | $-11M | $-3M | $-10M | $-17M | $-4M | $-49M | $4M | $312.0K | $1M | $4M | $805.0K | $214.0K | $165.0K | $742.0K | $1M | |
| Net Change in Cash | $11M | $2M | $973.0K | $-10M | $8M | $20M | $-34M | $23M | $-30M | $3M | $17M | $7M | $-22M | $10M | $4M | $9M | |
| Free Cash Flow | · | $20M | · | · | · | $10M | · | · | · | $6M | · | · | · | · | · | · |
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 | 74.7% | 27.8% | · | · | 64.0% | 55.3% | · | 65.1% | 64.6% | 59.0% | · | 69.9% | 65.3% | 60.9% | · | 69.1% | |
| Operating Margin | -49.0% | -153.1% | · | · | 5.2% | -155.8% | · | 18.3% | -7.4% | -90.4% | · | 24.7% | -12.5% | -60.5% | · | 16.1% | |
| Net Margin | -26.7% | -126.2% | · | · | 7.3% | -122.5% | · | 22.0% | -2.4% | -68.3% | · | 26.1% | -8.0% | -47.0% | · | 15.7% | |
| Pretax Margin | -42.4% | -144.5% | · | · | 8.5% | -142.4% | · | 22.9% | -1.5% | -79.0% | · | 27.5% | -9.3% | -55.6% | · | 16.9% | |
| EBITDA Margin | -49.0% | -143.0% | · | · | 5.2% | -143.8% | · | 18.3% | -7.4% | -81.9% | · | 24.7% | -12.5% | -53.2% | · | 16.1% | |
| ROA | -1.6% | -5.6% | · | · | 0.89% | -4.2% | · | 3.5% | -0.28% | -3.6% | · | 4.6% | -0.83% | -3.0% | · | 2.3% | |
| ROE | -1.8% | -6.4% | · | · | 1.0% | -4.8% | · | 4.0% | -0.32% | -4.2% | · | 5.3% | -0.97% | -3.5% | · | 2.8% | |
| ROIC | -2.1% | -7.0% | · | · | 0.68% | -5.5% | · | 2.9% | -1.5% | -4.4% | · | 4.5% | -1.2% | -3.8% | · | 2.7% |
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 | 8.1 | 9.3 | · | · | 8.1 | 8.4 | · | 10.1 | 7.9 | 10.4 | · | 8.9 | 9.9 | 11.2 | · | 8.2 | |
| Quick Ratio | 5.8 | 7.2 | · | · | 6.0 | 6.3 | · | 8.0 | 6.1 | 8.3 | · | 6.6 | 7.3 | 8.3 | · | 5.9 |
Efficiency 3
| 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 | 0.1 | 0.0 | · | · | 0.1 | 0.0 | · | 0.2 | 0.1 | 0.1 | · | 0.2 | 0.1 | 0.1 | · | 0.1 | |
| Inventory Turnover | · | · | · | · | 0.3 | 0.1 | · | 0.4 | 0.3 | 0.2 | · | 0.3 | 0.2 | 0.2 | · | 0.4 | |
| Receivables Turnover | 0.5 | 0.3 | · | · | 1.1 | 0.3 | · | 1.4 | 1.5 | 0.7 | · | 1.8 | 1.4 | 0.7 | · | 1.9 |
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 | $82M | $78M | · | · | $102M | $86M | · | $115M | $97M | $83M | · | $102M | $85M | $97M | · | $104M | |
| Net Income TTM | $-10M | $-16M | · | · | $13.0K | $-10M | · | $9M | $-907.0K | $-7M | · | $6M | $-6M | $4M | · | $11M | |
| Market Cap | $462M | $524M | · | · | $686M | $872M | · | $1.01B | $763M | $905M | · | $1.20B | $1.58B | $1.30B | · | $1.22B | |
| P/E | -50.1 | -33.6 | · | · | · | -88.3 | · | 102.3 | -1329.0 | -143.5 | · | 192.8 | -279.5 | 329.3 | · | 108.7 | |
| P/S | 5.6 | 6.7 | · | · | 6.7 | 10.1 | · | 8.8 | 7.9 | 10.9 | · | 11.8 | 18.6 | 13.4 | · | 11.7 | |
| P/B | 2.7 | 2.8 | · | · | 3.7 | 4.4 | · | 4.3 | 3.5 | 4.2 | · | 6.2 | 8.7 | 7.2 | · | 7.2 | |
| P / Tangible Book | 2.9 | 3.0 | · | · | 4.0 | 4.7 | · | 4.6 | 3.7 | 4.5 | · | 6.6 | 9.3 | 7.7 | · | 7.8 | |
| P / Cash Flow | · | 24.9 | · | · | · | 81.6 | · | · | · | 139.3 | · | · | · | 150.0 | · | · | |
| P / FCF | · | 25.9 | · | · | · | 83.1 | · | · | · | 159.6 | · | · | · | · | · | · | |
| Earnings Yield | -2.0% | -3.0% | · | · | 0.00% | -1.1% | · | 0.98% | -0.08% | -0.70% | · | 0.52% | -0.36% | 0.30% | · | 0.92% |
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 | $135M | $145M | $128M | $126M | $104M |
| Gross Margin % | 65.1% | 66.9% | 67.8% | — | — |
| Operating Margin % | 17.7% | 13.6% | 14.8% | 19.8% | 13.3% |
| Net Income | $23M | $23M | $22M | $24M | $14M |
| Diluted EPS | $0.42 | $0.40 | $0.37 | $0.42 | $0.24 |
Balance Sheet
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Current Ratio | 10.4 | 7.4 | 8.6 | 8.6 | 7.7 |
| Quick Ratio | 8.8 | 6.1 | 7.2 | 6.8 | 6.4 |
Cash Flow
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Free Cash Flow | $17M | $19M | $23M | $8M | $7M |
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Institutional owners (13F) 217 filers · $240.1M 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 |
|---|---|---|---|---|
| 51 (+8 vs prior Q) | 37 (+2 vs prior Q) | 71 (+8 vs prior Q) | 46 (-16 vs prior Q) | +4.2M |
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 |
|---|---|---|---|---|
| VANGUARD CAPITAL MANAGEMENT LLC | $19,697,136 | 2,183,718 | 8.20% | Shares |
| FIL Ltd | $15,475,812 | 1,715,722 | 6.45% | Shares |
| STATE STREET CORP | $14,665,555 | 1,625,893 | 6.11% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $13,556,555 | 1,502,676 | 5.65% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $11,398,276 | 1,263,667 | 4.75% | Shares |
| MACKENZIE FINANCIAL CORP | $10,712,928 | 1,187,686 | 4.46% | Shares |
| ArrowMark Colorado Holdings LLC | $7,639,940 | 847,000 | 3.18% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $7,031,631 | 779,560 | 2.93% | Shares |
| ROYCE & ASSOCIATES LP | $6,790,364 | 752,812 | 2.83% | Shares |
| AVENIR CORP | $6,258,856 | 693,886 | 2.61% | Shares |
| AMERIPRISE FINANCIAL INC | $6,117,825 | 678,251 | 2.55% | Shares |
| Kopion Asset Management, LLC | $5,768,696 | 639,545 | 2.40% | Shares |
| 683 Capital Management, LLC | $4,780,600 | 530,000 | 1.99% | Shares |
| LAZARD ASSET MANAGEMENT LLC | $4,510,550 | 500,061 | 1.88% | Shares |
| TUDOR INVESTMENT CORP ET AL | $4,256,583 | 471,905 | 1.77% | Shares |
| Swiss Life Asset Management Ltd | $4,163,082 | 461,539 | 1.73% | Shares |
| Raiffeisen Bank International AG | $4,052,600 | 460,000 | 1.69% | Shares |
| Zurcher Kantonalbank (Zurich Cantonalbank) | $3,967,149 | 439,817 | 1.65% | Shares |
| CenterBook Partners LP | $3,792,973 | 420,507 | 1.58% | Shares |
| MARSHALL WACE, LLP | $3,730,013 | 413,527 | 1.55% | Shares |
| KLP KAPITALFORVALTNING AS | $3,610,805 | 400,311 | 1.50% | Shares |
| BNP PARIBAS FINANCIAL MARKETS | $3,575,717 | 396,421 | 1.49% | Shares |
| JACOBS LEVY EQUITY MANAGEMENT, INC | $3,416,767 | 378,799 | 1.42% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $3,313,939 | 367,399 | 1.38% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $3,311,404 | 367,118 | 1.38% | Shares |
| Amundi | $3,199,421 | 354,703 | 1.33% | Shares |
| PINNACLE ASSOCIATES LTD | $2,941,593 | 326,119 | 1.23% | Shares |
| BROWN CAPITAL MANAGEMENT LLC | $2,551,451 | 282,866 | 1.06% | Shares |
| BlackRock, Inc. | $2,307,343 | 255,803 | 0.96% | Shares |
| TWO SIGMA INVESTMENTS, LP | $2,100,118 | 232,829 | 0.87% | Shares |
| CITADEL ADVISORS LLC | $1,749,898 | 194,002 | 0.73% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $1,749,149 | 193,919 | 0.73% | Shares |
| TUDOR INVESTMENT CORP ET AL | $1,713,800 | 190,000 | 0.71% | Put option |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $1,636,228 | 181,400 | 0.68% | Put option |
| JUPITER ASSET MANAGEMENT LTD | $1,491,917 | 165,401 | 0.62% | Shares |
| GOLDMAN SACHS GROUP INC | $1,475,005 | 163,526 | 0.61% | Shares |
| ISTHMUS PARTNERS, LLC | $1,456,252 | 161,447 | 0.61% | Shares |
| Polymer Capital Management (US) LLC | $1,305,239 | 144,705 | 0.54% | Shares |
| CITADEL ADVISORS LLC | $1,217,700 | 135,000 | 0.51% | Put option |
| Squarepoint Ops LLC | $1,128,763 | 125,140 | 0.47% | Shares |
| RICE HALL JAMES & ASSOCIATES, LLC | $1,124,154 | 124,629 | 0.47% | Shares |
| JANE STREET GROUP, LLC | $1,109,460 | 123,000 | 0.46% | Put option |
| Y-Intercept (Hong Kong) Ltd | $1,085,701 | 120,366 | 0.45% | Shares |
| EntryPoint Capital, LLC | $1,047,231 | 116,101 | 0.44% | Shares |
| Swiss National Bank | $947,100 | 105,000 | 0.39% | Shares |
| NJ State Employees Deferred Compensation Plan | $909,780 | 59,000 | 0.38% | Shares |
| Balyasny Asset Management L.P. | $878,422 | 97,386 | 0.37% | Shares |
| Quantinno Capital Management LP | $823,580 | 91,306 | 0.34% | Shares |
| CARY STREET PARTNERS FINANCIAL LLC | $807,552 | 89,529 | 0.34% | Shares |
| CoreCommodity Management, LLC | $789,196 | 87,494 | 0.33% | Shares |
| Point72 Asset Management, L.P. | $747,027 | 82,819 | 0.31% | Shares |
| JANE STREET GROUP, LLC | $707,168 | 78,400 | 0.29% | Call option |
| HSBC HOLDINGS PLC | $701,582 | 78,741 | 0.29% | Shares |
| MILFAM LLC | $676,500 | 75,000 | 0.28% | Shares |
| GABELLI FUNDS LLC | $667,480 | 74,000 | 0.28% | Shares |
| PRINCIPAL FINANCIAL GROUP INC | $636,605 | 70,577 | 0.27% | Shares |
| IMC-Chicago, LLC | $602,707 | 66,819 | 0.25% | Shares |
| SEI INVESTMENTS CO | $583,080 | 64,643 | 0.24% | Shares |
| RHUMBLINE ADVISERS | $581,003 | 64,414 | 0.24% | Shares |
| Bank of New York Mellon Corp | $559,917 | 62,075 | 0.23% | Shares |
| ALLIANCEBERNSTEIN L.P. | $537,235 | 53,350 | 0.22% | Shares |
| NEUBERGER BERMAN GROUP LLC | $528,392 | 58,580 | 0.22% | Shares |
| NewEdge Advisors, LLC | $518,254 | 57,456 | 0.22% | Shares |
| ExodusPoint Capital Management, LP | $499,446 | 55,371 | 0.21% | Shares |
| CREDIT AGRICOLE S A | $496,100 | 55,000 | 0.21% | Shares |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM | $489,644 | 48,624 | 0.20% | Shares |
| Keene & Associates, Inc. | $479,279 | 32,604 | 0.20% | Shares |
| AVIVA PLC | $463,953 | 51,436 | 0.19% | Shares |
| Numerai GP LLC | $460,651 | 51,070 | 0.19% | Shares |
| MERCER GLOBAL ADVISORS INC /ADV | $454,473 | 50,385 | 0.19% | Shares |
| VOYA INVESTMENT MANAGEMENT LLC | $437,659 | 48,521 | 0.18% | Shares |
| WELLS FARGO & COMPANY/MN | $425,374 | 47,159 | 0.18% | Shares |
| BARCLAYS PLC | $400,001 | 44,346 | 0.17% | Shares |
| JANE STREET GROUP, LLC | $375,097 | 41,585 | 0.16% | Shares |
| Diametric Capital, LP | $370,523 | 41,078 | 0.15% | Shares |
| MISSION WEALTH MANAGEMENT, LP | $369,947 | 41,014 | 0.15% | Shares |
| Teton Advisors, Inc. | $357,840 | 28,000 | 0.15% | Shares |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. | $356,461 | 39,519 | 0.15% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $349,976 | 38,800 | 0.15% | Call option |
| HighTower Advisors, LLC | $346,675 | 38,434 | 0.14% | Shares |
| VANGUARD ASSET MANAGEMENT, Ltd | $326,750 | 36,225 | 0.14% | Shares |
| AlphaQuest LLC | $325,487 | 24,128 | 0.14% | Shares |
| BANK OF AMERICA CORP /DE/ | $321,752 | 35,671 | 0.13% | Shares |
| Nebula Research & Development LLC | $312,791 | 24,475 | 0.13% | Shares |
| Corient Private Wealth LP | $300,430 | 33,307 | 0.13% | Shares |
| VANGUARD GROUP INC | $285,759 | 21,183 | 0.12% | Shares |
| WOLVERINE TRADING, LLC | $283,975 | 18,500 | 0.12% | Call option |
| Brevan Howard Capital Management LP | $283,201 | 31,397 | 0.12% | Shares |
| ALLSTATE CORP | $281,000 | 31,153 | 0.12% | Shares |
| Pathstone Holdings, LLC | $275,110 | 30,500 | 0.11% | Shares |
| NORDEA INVESTMENT MANAGEMENT AB | $274,129 | 31,222 | 0.11% | Shares |
| PRELUDE CAPITAL MANAGEMENT, LLC | $273,793 | 30,354 | 0.11% | Shares |
| HORIZON KINETICS ASSET MANAGEMENT LLC | $260,931 | 28,928 | 0.11% | Shares |
| MetLife Investment Management, LLC | $259,992 | 28,824 | 0.11% | Shares |
| Sargent Investment Group, LLC | $243,901 | 27,040 | 0.10% | Shares |
| Teton Advisors, LLC | $243,540 | 27,000 | 0.10% | Shares |
| JANUS HENDERSON GROUP PLC | $243,321 | 24,175 | 0.10% | Shares |
| Olympiad Research LP | $229,072 | 25,396 | 0.10% | Shares |
| Miller Global Investments, LLC | $224,463 | 24,885 | 0.09% | Shares |
| D. E. Shaw & Co., Inc. | $219,186 | 24,300 | 0.09% | Shares |
Company insiders 22 insiders · 9 officers · 10 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Alexander J Buehler | Interim President and CEO | June 15, 2026 M | 66,755 | 0 | 1 | $-129,779 |
| Aidan Ryan | Interim CFO | May 6, 2026 A | 34,133 | 0 | 0 | $0 |
| Thomas D Willardson | Chief Financial Officer | July 1, 2008 A | — | 0 | 0 | $0 |
| William Yeung | Chief Legal Officer | July 28, 2026 S | 99,291 | 0 | 1 | $-17,531 |
| Rodney Clemente | SVP, Water | July 28, 2026 S | 108,301 | 0 | 1 | $-46,113 |
| Hans Peter Michelet | Executive Chairman | July 8, 2008 S | 1,431,613 | 0 | 0 | $0 |
| Richard Stover | CTO and VP of Sales | July 1, 2008 A | — | 0 | 0 | $0 |
| Terrill Sandlin | VP of Manufacturing | July 1, 2008 A | — | 0 | 0 | $0 |
| Marilyn Lobel | Chief Acct Officer,Controller | July 1, 2008 A | — | 0 | 0 | $0 |
| John Joseph Mitchell | Director | July 9, 2026 A | 16,797 | 0 | 0 | $0 |
| Colin R Sabol | Director | June 15, 2026 P | 55,671 | 1 | 0 | $99,278 |
| Pamela L. Tondreau | Director | June 4, 2026 A | 60,844 | 0 | 0 | $0 |
| Arve Hanstveit | Director | June 4, 2026 A | 400,603 | 0 | 0 | $0 |
| Joan Kai Chow | Director | June 4, 2026 A | 52,116 | 0 | 0 | $0 |
| James Medanich | Director | July 8, 2008 S | 170,000 | 0 | 0 | $0 |
| Paul M. Cook | Director | July 2, 2008 P | 20,300 | 0 | 0 | $0 |
| Dominique Trempont | Director | July 2, 2008 P | 17,900 | 0 | 0 | $0 |
| Ole Peter Lorentzen | 10% owner | March 12, 2015 P | 8,490,334 | 0 | 0 | $0 |
| Arvarius AS | 10% owner | April 28, 2010 X | 6,841,103 | 0 | 0 | $0 |
| David W Moon | — | Feb. 17, 2026 A | 233,069 | 0 | 0 | $0 |
| Gonzalo G Pique | — | Sept. 12, 2008 P | 161,000 | 0 | 0 | $0 |
| Fred Olav Johannessen | — | July 8, 2008 S | 210,000 | 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 |
|---|---|---|---|---|---|
| Ole Peter Lorentzen, Sobral AS ×8 filings | Dec. 2, 2021 | — | Initial filing | Passive investment | 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 43 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 |
|---|---|---|---|---|
| QQQS · Invesco Exchange-Traded Fund Trust … | 0.53% | 13,703 SH | Aug. 8, 2026 | Daily |
| AQWA · Global X Funds | 0.25% | 7,356 NS | May 31, 2026 | N-PORT |
| PHO · Invesco Exchange-Traded Fund Trust | 0.24% | 569,788 SH | Aug. 8, 2026 | Daily |
| CCNR · Financial Investors Trust | 0.23% | 80,371 NS | April 30, 2026 | N-PORT |
| CGW · Invesco Exchange-Traded Fund Trust … | 0.15% | 182,156 SH | Aug. 8, 2026 | Daily |
| TBLU · Tortoise Capital Series Trust | 0.07% | 4,467 NS | May 31, 2026 | N-PORT |
| ESML · iShares Trust | 0.06% | 215,023 SH | Aug. 8, 2026 | Daily |
| ERTH · Invesco Exchange-Traded Fund Trust | 0.06% | 10,079 SH | Aug. 8, 2026 | Daily |
| GSSC · Goldman Sachs ETF Trust | 0.04% | 50,568 NS | May 31, 2026 | N-PORT |
| NUSC · Nushares ETF Trust | 0.04% | 48,717 NS | April 30, 2026 | N-PORT |
| VFQY · VANGUARD WELLINGTON FUND | 0.03% | 15,255 SH | Aug. 8, 2026 | Daily |
| OMFS · Invesco Exchange-Traded Self-Indexe… | 0.03% | 8,854 SH | Aug. 8, 2026 | Daily |
| IWO · iShares Trust | 0.02% | 413,045 SH | Aug. 8, 2026 | Daily |
| PRFZ · Invesco Exchange-Traded Fund Trust | 0.02% | 67,765 SH | Aug. 8, 2026 | Daily |
| VTWG · VANGUARD SCOTTSDALE FUNDS | 0.02% | 49,172 SH | Aug. 8, 2026 | Daily |
| RSSL · Global X Funds | 0.02% | 22,450 NS | April 30, 2026 | N-PORT |
| IWM · iShares Trust | 0.01% | 1,317,825 SH | Aug. 8, 2026 | Daily |
| DFAS · Dimensional ETF Trust | 0.01% | 175,759 NS | April 30, 2026 | N-PORT |
| ITWO · ProShares Trust | 0.01% | 2,438 NS | May 31, 2026 | N-PORT |
| VXF · VANGUARD INDEX FUNDS | 0.01% | 593,233 SH | Aug. 8, 2026 | Daily |
| VTWO · VANGUARD SCOTTSDALE FUNDS | 0.01% | 300,473 SH | Aug. 8, 2026 | Daily |
| VIS · VANGUARD WORLD FUND | 0.01% | 63,613 SH | Aug. 8, 2026 | Daily |
| SCHA · SCHWAB STRATEGIC TRUST | 0.01% | 253,823 NS | May 31, 2026 | N-PORT |
| FIDU · FIDELITY COVINGTON TRUST | 0.01% | 15,417 NS | April 30, 2026 | N-PORT |
| UWM · ProShares Trust | 0.01% | 1,906 NS | May 31, 2026 | N-PORT |
| AVSC · AMERICAN CENTURY ETF TRUST | 0.01% | 17,667 NS | May 31, 2026 | N-PORT |
| WSML · iShares Trust | 0.01% | 3,972 SH | Aug. 8, 2026 | Daily |
| URTY · ProShares Trust | 0.00% | 1,927 NS | May 31, 2026 | N-PORT |
| IWN · iShares Trust | 0.00% | 63,819 SH | Aug. 8, 2026 | Daily |
| DFAC · Dimensional ETF Trust | 0.00% | 106,754 NS | April 30, 2026 | N-PORT |
| MSSM · MORGAN STANLEY PATHWAY FUNDS | 0.00% | 1,896 NS | May 31, 2026 | N-PORT |
| HDG · ProShares Trust | 0.00% | 48 NS | May 31, 2026 | N-PORT |
| DFUV · Dimensional ETF Trust | 0.00% | 17,325 NS | April 30, 2026 | N-PORT |
| DFSU · Dimensional ETF Trust | 0.00% | 1,600 NS | April 30, 2026 | N-PORT |
| ITOT · iShares Trust | 0.00% | 82,054 SH | Aug. 8, 2026 | Daily |
| DFAU · Dimensional ETF Trust | 0.00% | 7,337 NS | April 30, 2026 | N-PORT |
| IWV · iShares Trust | 0.00% | 15,119 SH | Aug. 8, 2026 | Daily |
| SCHB · SCHWAB STRATEGIC TRUST | 0.00% | 33,759 NS | May 31, 2026 | N-PORT |
| DFAT · Dimensional ETF Trust | 0.00% | 870 NS | April 30, 2026 | N-PORT |
| VTI · VANGUARD INDEX FUNDS | 0.00% | 1,537,828 SH | Aug. 8, 2026 | Daily |
| VTWV · VANGUARD SCOTTSDALE FUNDS | 0.00% | 5,562 SH | Aug. 8, 2026 | Daily |
| VTHR · VANGUARD SCOTTSDALE FUNDS | 0.00% | 3,893 SH | Aug. 8, 2026 | Daily |
| TILT · FlexShares Trust | 0.00% | 21 NS | April 30, 2026 | N-PORT |