ESTA Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range

03

Price $64.06

Market Cap (MRQ) $1.91B

P/E (TTM) -49.7

EPS (TTM) $-1.29

Revenue (TTM) $246M

ROE (TTM) -175.3%

Debt/Equity (MRQ) 12.1

52W Range $38–$98

ESTA Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view

04

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10-Year Performance Revenue, net income, margins and EPS trends

06

Revenue$211M

2017-12-31 → 2025-12-31

EPS$-1.72

2019-12-31 → 2025-12-31

Free Cash Flow$-57M

2018-12-31 → 2025-12-31

Net margin-15.8%

2018-12-31 → 2025-12-31

Valuation & Ratios 07–12

Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?

Metric	ESTA	5Y avg	Peer Median	Verdict
P/E (TTM)	-49.75Y avg ≈-25.4	≈-25.4	·	·
P/S (TTM)	7.85Y avg ≈9.0	≈9.0	·	·
P/B (MRQ)	88.35Y avg ≈-2.3	≈-2.3	·	·
EV / EBITDA	-63.45Y avg ≈-38.6	≈-38.6	·	·
Price / FCF (TTM)	-46.05Y avg ≈-29.7	≈-29.7	·	·
Price / Cash Flow (TTM)	-59.05Y avg ≈-32.4	≈-32.4	·	·
EV / Revenue	9.95Y avg ≈8.2	≈8.2	·	·
EV / FCF	-36.55Y avg ≈-23.9	≈-23.9	·	·
Price / Tangible Book (MRQ)	156.75Y avg ≈77.2	≈77.2	·	·

Peer median is calculated on a standardized basis per metric and may not always match the TTM/MRQ basis shown for this stock.

Profitability Gross, operating and net margins; ROE, ROA, ROIC

Metric	ESTA	5Y avg	Peer Median	Verdict
Gross Margin (TTM)	70.5%5Y avg ≈66.7%	≈66.7%	·	·
Operating Margin (TTM)	-7.6%5Y avg ≈-26.5%	≈-26.5%	·	·
EBITDA Margin	-15.5%5Y avg ≈-25.0%	≈-25.0%	·	·
Pretax Margin (TTM)	-19.3%5Y avg ≈-40.5%	≈-40.5%	·	·
Net Profit Margin (TTM)	-15.8%5Y avg ≈-40.3%	≈-40.3%	·	·
ROA (TTM)	-11.4%5Y avg ≈-29.1%	≈-29.1%	·	·
ROE (TTM)	-175.3%5Y avg ≈288.9%	≈288.9%	·	·
ROIC	-12.7%5Y avg ≈77.3%	≈77.3%	·	·

Financial Health Debt, liquidity, solvency — balance sheet strength

Metric	ESTA	5Y avg	Peer Median	Verdict
Debt / Equity (MRQ)	12.15Y avg ≈8.3	≈8.3	·	·
Current Ratio (MRQ)	3.85Y avg ≈3.4	≈3.4	·	·
Quick Ratio	1.95Y avg ≈2.1	≈2.1	·	·
Long-Term Debt / Equity (MRQ)	12.15Y avg ≈8.3	≈8.3	·	·

Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR

Metric	ESTA	5Y avg	Peer Median	Verdict
Revenue YoY	27.1%5Y avg ≈21.4%	≈21.4%	·	·
Revenue CAGR 3Y	9.3%5Y avg ≈14.6%	≈14.6%	·	·
Revenue CAGR 5Y	20.0%	·	·	·

Per Share Metrics EPS, book value per share, cash flow per share, dividend per share

Metric	ESTA	5Y avg	Peer Median	Verdict
EPS (Diluted)	$-1.725Y avg ≈$-2.52	≈$-2.52	·	·
Revenue / Share	$7.135Y avg ≈$6.27	≈$6.27	·	·
Cash Flow / Share	$-1.725Y avg ≈$-2.11	≈$-2.11	·	·
Cash / Share	$2.585Y avg ≈$2.44	≈$2.44	·	·

Capital Efficiency Asset turnover, inventory turnover, receivables turnover

Metric	ESTA	5Y avg	Peer Median	Verdict
Asset Turnover	0.65Y avg ≈0.7	≈0.7	·	·
Inventory Turnover	0.85Y avg ≈1.2	≈1.2	·	·
Receivables Turnover	3.05Y avg ≈4.2	≈4.2	·	·
Revenue / Employee	≈$210.2K	·	·	·

value · ≈ 5Y avg · industry median · verdict relative to median

Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date

14

Avg Surprise 12.5%

Next Report Nov 03, 2026

Period	Report	EPS Actual	EPS Est	Surprise
June 30, 2026	Aug 11, 2026	$-0.33	$-0.34	3.8%
March 31, 2026	May 11, 2026	$-0.45	$-0.35	-26.9%
Dec. 31, 2025		$-0.09	$-0.22	59.3%
Sept. 30, 2025		$-0.38	$-0.54	29.7%
June 30, 2025		$-0.57	$-0.54	-5.0%
March 31, 2025		$-0.70	$-0.82	14.4%

Full Fundamentals All metrics by year — income statement, balance sheet, cash flow

15

Income Statement 18

Metric	2025	2024	2023	2022	2021	2020	2019	2018	2017
Revenue	$211M	$166M	$165M	$162M	$127M	$85M	$90M	$61M	$35M
Cost of Revenue	$65M	$56M	$58M	$55M	$41M	$32M	$35M	$25M	$17M
Gross Profit	$146M	$110M	$107M	$107M	$85M	$53M	$55M	$36M	$18M
R&D Expense	$20M	$20M	$26M	$20M	$18M	$14M	$15M	$13M	$7M
SG&A Expense	$165M	$140M	$146M	$126M	$92M	$67M	$71M	$47M	$31M
Operating Expenses	$185M	$160M	$172M	$146M	$111M	$80M	$86M	$60M	$38M
Operating Income	$-39M	$-50M	$-65M	$-40M	$-25M	$-28M	$-31M	$-24M	$-20M
Interest Expense	·	·	$15M	$12M	$9M	$9M	$9M	$9M	$10M
Interest Income	$423.0K	$1M	$1M	$87.0K	$23.0K	$15.0K	$4.0K	$16.0K	$19.0K
Other Non-op	$6M	$-15M	$816.0K	$-3M	$-6M	$-3M	$-1M	$-2M	$-395.0K
Pretax Income	$-58M	$-85M	$-79M	$-73M	$-40M	$-38M	$-38M	$-21M	$-35M
Income Tax	$-7M	$-32.0K	$-81.0K	$2M	$1M	$104.0K	$640.0K	$215.0K	$105.0K
Net Income	$-51M	$-85M	$-79M	$-75M	$-41M	$-38M	$-38M	$-21M	$-35M
EPS (Basic)	$-1.72	$-3.00	$-3.07	$-3.08	$-1.72	$-1.63	$-1.86	·	·
EPS (Diluted)	$-1.72	$-3.00	$-3.07	$-3.08	$-1.72	$-1.63	$-1.86	·	·
Shares (Basic)	29,620,022	28,161,761	25,600,029	24,457,793	23,972,722	23,316,102	20,541,528	·	·
Shares (Diluted)	29,620,022	28,161,761	25,600,029	24,457,793	23,972,722	23,316,102	20,541,528	·	·
EBITDA	$-33M	$-45M	$-62M	$-40M	$-25M	$-28M	·	$-24M	·

Balance Sheet 30

Metric	2025	2024	2023	2022	2021	2020	2019	2018	2017
Cash & Equivalents	$76M	$90M	$40M	$66M	$53M	$85M	$38M	$53M	$11M
Receivables	$77M	$65M	$47M	$35M	$24M	$19M	$23M	$18M	$13M
Inventory	$86M	$79M	$79M	$37M	$28M	$23M	$29M	$25M	$13M
Prepaid Expense	$11M	$9M	$8M	$12M	$7M	$5M	$7M	$4M	$2M
Other Current Assets	·	·	·	$2M	$2M	$2M	·	·	·
Current Assets	$250M	$243M	$175M	$150M	$113M	$132M	$96M	$99M	$39M
PP&E (Net)	$76M	$78M	$77M	$51M	$19M	$16M	$16M	$13M	$14M
PP&E (Gross)	$102M	$98M	$94M	$65M	$31M	$26M	$24M	$18M	$17M
Accum. Depreciation	$26M	$20M	$16M	$14M	$12M	$10M	$8M	$5M	$3M
Goodwill	$1M	$1M	$465.0K	$465.0K	$465.0K	$465.0K	$465.0K	$465.0K	$465.0K
Intangibles	$10M	$12M	$8M	$5M	$4M	$4M	$3M	$3M	$3M
Other Non-current Assets	$16M	$7M	$5M	$1M	$558.0K	$664.0K	$368.0K	$315.0K	$272.0K
Total Assets	$357M	$347M	$269M	$211M	$140M	$156M	$117M	$117M	$57M
Accounts Payable	$43M	$45M	$42M	$20M	$14M	$10M	$10M	$6M	$9M
Accrued Liabilities	$19M	$17M	$14M	$17M	$16M	$15M	$11M	$6M	$2M
Short-term Debt	·	$0	·	·	·	·	·	·	·
Current Liabilities	$82M	$68M	$57M	$39M	$32M	$26M	$23M	$16M	$57M
Capital Leases	$3M	$4M	$3M	$3M	$2M	$2M	$207.0K	$380.0K	·
Other Non-current Liabilities	$1M	$2M	$2M	$2M	$2M	$2M	$2M	$4M	$5M
Total Liabilities	$334M	$294M	$250M	$219M	$89M	$81M	$77M	$47M	$62M
Long-term Debt	·	$0	·	·	·	·	·	·	·
Total Debt	$248M	$220M	$189M	·	·	·	·	·	·
Common Stock	$433M	$420M	$316M	$224M	$220M	$213M	$148M	$146M	·
Paid-in Capital	$88M	$77M	$64M	$50M	$37M	$27M	$21M	$15M	$28M
Retained Earnings	$-496M	$-445M	$-360M	$-282M	$-206M	$-165M	$-127M	$-89M	$-68M
Treasury Stock	$3M	$3M	$3M	$3M	$3M	$3M	$3M	$3M	$6M
AOCI	$1M	$3M	$2M	$3M	$4M	$3M	$691.0K	$449.0K	$76.0K
Stockholders' Equity	$24M	$53M	$18M	$-8M	$51M	$75M	$40M	$69M	$-5M
Liabilities + Equity	$357M	$347M	$269M	$211M	$140M	$156M	$117M	$117M	$57M
Shares Outstanding	29,304,954	29,195,439	26,495,250	24,815,908	24,080,265	23,517,719	20,648,970	20,263,955	·

Cash Flow 16

Metric	2025	2024	2023	2022	2021	2020	2019	2018	2017
D&A	$6M	$5M	$3M	$2M	$2M	·	·	·	·
Stock-based Comp	$11M	$14M	$14M	$13M	$10M	·	·	·	·
Deferred Tax	$-9M	$-2M	$-4M	$86.0K	$7.0K	$-274.0K	$0	$0	$0
Amort. of Intangibles	$3M	$2M	$1M	$1M	$1M	$900.0K	$600.0K	$600.0K	$300.0K
Other Non-cash	$-8M	$9M	$-23M	·	·	·	·	·	·
Operating Cash Flow	$-51M	$-59M	$-89M	$-52M	$-28M	$-13M	$-30M	$-34M	$-32M
CapEx	$6M	$6M	$8M	$3M	$2M	$2M	$6M	$2M	$901.0K
Investing Cash Flow	$-7M	$-16M	$-25M	$-35M	$-7M	$-6M	$-8M	$-6M	$-845.0K
Stock Issued	$0	$99M	$85M	$0	$0	$64M	·	·	·
Stock Repurchased	·	·	·	·	·	·	·	$0	$5M
Net Stock Activity	$0	$99M	$85M	$0	·	·	·	$0	·
Financing Cash Flow	$40M	$126M	$86M	$100M	$4M	$65M	$23M	$82M	$43M
Net Change in Cash	$-15M	$50M	$-26M	$13M	$-31M	$47M	$-15M	$42M	$10M
Taxes Paid	$420.0K	$2M	$2M	$2M	$652.0K	$316.0K	$649.0K	$136.0K	$147.0K
Free Cash Flow	$-57M	$-65M	$-96M	$-55M	$-30M	$-15M	·	$-36M	·
Levered FCF	·	·	$-112M	$-67M	$-39M	$-24M	·	$-45M	·

Profitability 8

Metric	2025	2024	2023	2022	2021	2020	2019	2018	2017
Gross Margin	69.3%	66.0%	64.8%	65.9%	67.4%	62.0%	·	59.0%	·
Operating Margin	-18.5%	-30.1%	-39.4%	-24.5%	-19.8%	-33.0%	·	-39.0%	·
Net Margin	-24.2%	-50.9%	-47.5%	-46.5%	-32.5%	-45.0%	·	-34.5%	·
Pretax Margin	-27.5%	-51.0%	-47.6%	-45.0%	-31.4%	-44.9%	·	-34.1%	·
EBITDA Margin	-15.5%	-27.3%	-37.7%	-24.5%	-19.8%	-33.0%	·	-39.0%	·
ROA	-14.5%	-27.5%	-32.7%	-42.9%	-27.8%	-27.9%	·	-24.3%	·
ROE	-220.5%	-197.2%	-321.2%	2256.5%	-73.3%	-49.2%	·	-28.8%	·
ROIC	-12.7%	-18.3%	-31.4%	500.4%	-51.3%	-37.3%	·	-34.7%	·

Liquidity & Solvency 5

Metric	2025	2024	2023	2022	2021	2020	2019	2018	2017
Current Ratio	3.0	3.6	3.1	3.8	3.6	5.1	·	6.0	·
Quick Ratio	1.9	2.3	1.5	2.6	2.4	4.0	·	4.3	·
Debt / Equity	10.5	4.1	10.3	·	·	·	·	·	·
LT Debt / Equity	10.5	4.1	10.3	·	·	·	·	·	·
Interest Coverage	·	·	-4.2	-3.4	-2.8	-3.0	·	-2.7	·

Efficiency 3

Metric	2025	2024	2023	2022	2021	2020	2019	2018	2017
Asset Turnover	0.6	0.5	0.7	0.9	0.9	0.6	·	0.7	·
Inventory Turnover	0.8	0.7	1.0	1.7	1.6	1.2	·	1.3	·
Receivables Turnover	3.0	3.0	4.0	5.4	5.8	4.0	·	4.0	·

Per Share 5

Metric	2025	2024	2023	2022	2021	2020	2019	2018	2017
Book Value / Share	$0.80	$1.84	$0.71	$-0.34	$2.11	$3.19	·	·	·
Revenue / Share	$7.13	$5.90	$6.45	$6.61	$5.28	·	·	·	·
Cash Flow / Share	$-1.72	$-2.08	$-3.46	$-2.13	$-1.15	·	·	·	·
Cash / Share	$2.58	$3.14	$1.53	$2.72	$2.22	$3.59	·	·	·
EPS (TTM)	$-1.72	$-3.00	$-3.07	$-3.08	$-1.72	$-1.63	$-1.86	·	·

Growth Rates 3

Metric	2025	2024	2023	2022	2021	2020	2019	2018	2017
Revenue YoY	27.1%	0.53%	2.1%	27.6%	49.6%	·	·	·	·
Revenue CAGR 3Y	9.3%	9.4%	24.9%	·	·	·	·	·	·
Revenue CAGR 5Y	20.0%	·	·	·	·	·	·	·	·

Valuation (TTM) 14

Metric	2025	2024	2023	2022	2021	2020	2019	2018	2017
Revenue TTM	$211M	$166M	$165M	$162M	$127M	$85M	$90M	$61M	·
Net Income TTM	$-51M	$-85M	$-79M	$-75M	$-41M	$-38M	$-38M	$-21M	·
Market Cap	$2.14B	$1.33B	$675M	$1.60B	$1.63B	$885M	·	·	·
Enterprise Value	$2.31B	$1.46B	$824M	·	·	·	·	·	·
P/E	-42.4	-15.4	-8.4	-21.3	-39.3	-23.1	-14.9	·	·
P/S	10.1	8.0	4.1	9.9	12.8	10.5	·	·	·
P/B	90.7	25.0	36.7	-195.8	32.1	11.8	·	·	·
P / Tangible Book	172.3	33.0	67.9	·	35.5	12.6	·	·	·
P / Cash Flow	-42.0	-22.7	-7.6	-30.7	-59.1	-70.8	·	·	·
P / FCF	-37.5	-20.5	-7.0	-29.1	-54.3	-59.3	·	·	·
EV / EBITDA	-70.3	-32.1	-13.2	·	·	·	·	·	·
EV / FCF	-40.5	-22.5	-8.5	·	·	·	·	·	·
EV / Revenue	10.9	8.8	5.0	·	·	·	·	·	·
Earnings Yield	-2.4%	-6.5%	-11.9%	-4.7%	-2.5%	-4.3%	-6.7%	·	·

Income Statement 18

Metric	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	$68M	$60M	$65M	$54M	$51M	$41M	$45M	$40M	$44M	$37M	$32M	$39M	$49M	$47M	$44M	$38M
Cost of Revenue	$20M	$18M	$19M	$16M	$16M	$14M	$14M	$15M	$15M	$13M	$11M	$12M	$18M	$16M	$16M	$12M
Gross Profit	$48M	$42M	$46M	$38M	$35M	$28M	$30M	$26M	$29M	$24M	$21M	$26M	$30M	$30M	$28M	$26M
R&D Expense	$5M	$5M	$5M	$5M	$5M	$5M	$5M	$5M	$5M	$4M	$6M	$7M	$7M	$7M	$6M	$5M
SG&A Expense	$47M	$44M	$44M	$37M	$44M	$40M	$44M	$34M	$33M	$29M	$37M	$40M	$37M	$32M	$35M	$31M
Operating Expenses	$52M	$49M	$49M	$42M	$49M	$45M	$49M	$39M	$38M	$33M	$43M	$47M	$44M	$38M	$41M	$37M
Operating Income	$-4M	$-7M	$-4M	$-4M	$-14M	$-17M	$-19M	$-13M	$-9M	$-9M	$-22M	$-21M	$-14M	$-8M	$-13M	$-11M
Interest Expense	·	·	·	·	·	·	·	$5M	$5M	$4M	·	$4M	$4M	$4M	·	$4M
Interest Income	$36.0K	$26.0K	$34.0K	$48.0K	$91.0K	$250.0K	$199.0K	$234.0K	$556.0K	$488.0K	$504.0K	$271.0K	$170.0K	$75.0K	$25.0K	$10.0K
Other Non-op	$-454.0K	$479.0K	$-775.0K	$-542.0K	$4M	$3M	$-12M	$2M	$-3M	$-3M	$3M	$-4M	$1M	$729.0K	$3M	$-4M
Pretax Income	$-12M	$-13M	$-12M	$-11M	$-16M	$-20M	$-36M	$-16M	$-17M	$-16M	$-23M	$-29M	$-16M	$-11M	$-13M	$-18M
Income Tax	$6.0K	$288.0K	$-9M	$424.0K	$1M	$914.0K	$-1M	$510.0K	$428.0K	$438.0K	$-3M	$669.0K	$925.0K	$830.0K	$819.0K	$603.0K
Net Income	$-12M	$-13M	$-3M	$-11M	$-17M	$-21M	$-35M	$-17M	$-17M	$-16M	$-21M	$-29M	$-17M	$-12M	$-14M	$-19M
EPS (Basic)	$-0.39	$-0.45	$-0.07	$-0.38	$-0.57	$-0.70	$-1.21	$-0.59	$-0.62	$-0.58	$-0.82	$-1.12	$-0.65	$-0.48	$-0.56	$-0.76
EPS (Diluted)	$-0.39	$-0.45	$-0.07	$-0.38	$-0.57	$-0.70	$-1.21	$-0.59	$-0.62	$-0.58	$-0.82	$-1.12	$-0.65	$-0.48	$-0.56	$-0.76
Shares (Basic)	30,121,685	29,947,157	·	29,622,101	28,913,811	29,475,649	·	28,248,256	27,905,614	27,788,120	·	26,034,185	25,615,444	24,678,113	·	24,511,495
Shares (Diluted)	30,121,685	29,947,157	·	29,622,101	28,913,811	29,475,649	·	28,248,256	27,905,614	27,788,120	·	26,034,185	25,615,444	24,678,113	·	24,511,495
EBITDA	$-4M	$-5M	·	$-3M	$-13M	$-15M	·	$-12M	$-8M	$-8M	·	$-20M	$-13M	$-8M	·	$-11M

Balance Sheet 29

Metric	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	$71M	$68M	$76M	$71M	$55M	$69M	$90M	$40M	$55M	$73M	·	$52M	$90M	$43M	·	$65M
Receivables	$76M	$77M	$77M	$71M	$70M	$63M	$65M	$67M	$60M	$51M	·	$55M	$51M	$41M	·	$31M
Inventory	$85M	$87M	$86M	$88M	$95M	$90M	$79M	$67M	$64M	$72M	·	$68M	$56M	$46M	·	$32M
Prepaid Expense	$16M	$14M	$11M	$9M	$10M	$9M	$9M	$9M	$7M	$7M	·	$12M	$11M	$12M	·	$10M
Other Current Assets	·	·	·	·	·	·	·	·	·	·	·	·	$2M	$4M	·	$2M
Current Assets	$248M	$246M	$250M	$240M	$229M	$232M	$243M	$183M	$186M	$204M	·	$187M	$209M	$142M	·	$138M
PP&E (Net)	$74M	$75M	$76M	$76M	$76M	$76M	$78M	$79M	$80M	$79M	·	$73M	$66M	$57M	·	$39M
PP&E (Gross)	·	$101M	$102M	$101M	$100M	$98M	$98M	$99M	$98M	$96M	·	$88M	$81M	$71M	·	$53M
Accum. Depreciation	$28M	$26M	$26M	$25M	$23M	$22M	$20M	$19M	$18M	$17M	·	$16M	$15M	$14M	·	$14M
Goodwill	$1M	$1M	$1M	$1M	$1M	$1M	$1M	$465.0K	$465.0K	$465.0K	·	$465.0K	$465.0K	$465.0K	·	$465.0K
Intangibles	$9M	$9M	$10M	$10M	$11M	$12M	$12M	$10M	$10M	$10M	·	$6M	$4M	$4M	·	$5M
Other Non-current Assets	$16M	$16M	$16M	$7M	$7M	$7M	$7M	$5M	$5M	$5M	·	$1M	$2M	$1M	·	$1M
Total Assets	$352M	$351M	$357M	$339M	$330M	$333M	$347M	$283M	$285M	$302M	·	$271M	$285M	$209M	·	$188M
Accounts Payable	$33M	$42M	$43M	$40M	$56M	$45M	$45M	$34M	$28M	$31M	·	$29M	$24M	$20M	·	$15M
Accrued Liabilities	$17M	$22M	$19M	$18M	$17M	$21M	$17M	$14M	$12M	$15M	·	$19M	$17M	$20M	·	$17M
Short-term Debt	·	·	·	$10M	$5M	·	·	·	·	·	·	·	·	·	·	·
Current Liabilities	$65M	$83M	$82M	$72M	$81M	$69M	$68M	$50M	$42M	$48M	·	$50M	$43M	$41M	·	$32M
Capital Leases	$2M	$2M	$3M	$3M	$3M	$4M	$4M	$4M	$3M	$3M	·	$3M	$3M	$3M	·	$3M
Other Non-current Liabilities	$2M	$2M	$1M	$1M	$2M	$2M	$2M	$1M	$1M	$2M	·	$2M	$2M	$2M	·	$2M
Total Liabilities	$330M	$336M	$334M	$323M	$307M	$295M	$294M	$250M	$240M	$245M	·	$240M	$230M	$225M	·	$186M
Total Debt	$262M	$249M	·	$256M	$226M	$220M	·	$194M	$194M	$192M	·	$185M	$182M	$179M	·	·
Common Stock	$451M	$435M	$433M	$426M	$426M	$425M	$420M	$369M	$368M	$367M	·	$311M	$310M	$225M	·	$223M
Paid-in Capital	$93M	$90M	$88M	$85M	$82M	$79M	$77M	$74M	$70M	$67M	·	$60M	$56M	$53M	·	$47M
Retained Earnings	$-521M	$-509M	$-496M	$-493M	$-482M	$-465M	$-445M	$-410M	$-393M	$-376M	·	$-340M	$-310M	$-294M	·	$-268M
Treasury Stock	$3M	$3M	$3M	$3M	$3M	$3M	$3M	$3M	$3M	$3M	·	$3M	$3M	$3M	·	$3M
AOCI	$2M	$2M	$1M	$1M	$-373.0K	$3M	$3M	$3M	$3M	$2M	·	$2M	$2M	$2M	·	$3M
Stockholders' Equity	$22M	$15M	$24M	$16M	$23M	$39M	$53M	$33M	$45M	$57M	$18M	$30M	$55M	$-16M	$-8M	$2M
Liabilities + Equity	$352M	$351M	$357M	$339M	$330M	$333M	$347M	$283M	$285M	$302M	·	$271M	$285M	$209M	·	$188M
Shares Outstanding	29,793,053	29,385,011	29,304,954	29,055,781	28,969,533	28,908,337	28,787,369	27,964,029	27,941,866	27,476,679	26,495,250	25,805,434	25,772,963	24,461,693	·	24,342,327

Cash Flow 14

Metric	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	·	$2M	$2M	$2M	$2M	$2M	$2M	$1M	$900.0K	$900.0K	$900.0K	$700.0K	$600.0K	$600.0K	$600.0K	$700.0K
Stock-based Comp	$3M	$3M	$3M	$3M	$3M	$2M	$4M	$4M	$4M	$3M	$3M	$4M	$4M	$3M	$3M	$3M
Amort. of Intangibles	·	$800.0K	$800.0K	$900.0K	$800.0K	$800.0K	$700.0K	$600.0K	$500.0K	$300.0K	$300.0K	$300.0K	$300.0K	$300.0K	$300.0K	$300.0K
Other Non-cash	·	$4M	·	·	·	$-4M	·	·	·	$706.0K	·	·	·	·	·	·
Operating Cash Flow	$-17M	$-4M	$-162.0K	$-11M	$-19M	$-21M	$-21M	$-12M	$-14M	$-11M	$-8M	$-32M	$-28M	$-21M	$-14M	$-22M
CapEx	$4M	$2M	$2M	$2M	$2M	$753.0K	$531.0K	$1M	$798.0K	$3M	$655.0K	$4M	$3M	$432.0K	$966.0K	$480.0K
Investing Cash Flow	$-4M	$-2M	$-2M	$-2M	$-2M	$-1M	$-2M	$-3M	$-4M	$-7M	$-5M	$-7M	$-9M	$-4M	$-10M	$-5M
Stock Issued	·	·	$0	$0	$0	$0	$50M	$0	$0	$50M	$0	$0	$85M	$0	$0	$0
Net Stock Activity	·	·	·	·	·	$0	·	·	·	$50M	·	·	·	·	·	·
Financing Cash Flow	$23M	$-864.0K	$6M	$29M	$5M	$-203.0K	$74M	$-28.0K	$389.0K	$51M	$65.0K	$487.0K	$84M	$1M	$25M	$1M
Net Change in Cash	$3M	$-7M	$5M	$16M	$-15M	$-21M	$51M	$-15M	$-18M	$33M	$-12M	$-38M	$47M	$-24M	$1M	$-26M
Taxes Paid	·	$1M	$131.0K	$154.0K	$56.0K	$79.0K	$921.0K	$68.0K	$70.0K	$676.0K	$355.0K	$812.0K	$780.0K	$218.0K	$827.0K	$453.0K
Free Cash Flow	·	$-6M	·	·	·	$-21M	·	·	·	$-14M	·	·	·	$-21M	·	·
Levered FCF	·	·	·	·	·	·	·	·	·	$-19M	·	·	·	$-25M	·	·

Profitability 8

Metric	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	70.6%	70.7%	·	70.1%	68.8%	67.2%	·	63.9%	65.6%	65.6%	·	67.7%	62.3%	64.6%	·	68.1%
Operating Margin	-6.3%	-10.9%	·	-7.5%	-27.5%	-41.0%	·	-32.7%	-21.2%	-23.8%	·	-54.6%	-28.2%	-17.5%	·	-27.5%
Net Margin	-17.4%	-22.4%	·	-20.7%	-32.4%	-50.0%	·	-41.5%	-38.9%	-43.6%	·	-76.0%	-34.5%	-25.7%	·	-48.6%
Pretax Margin	-17.4%	-21.9%	·	-19.9%	-30.4%	-47.8%	·	-40.2%	-38.0%	-42.4%	·	-74.3%	-32.6%	-23.9%	·	-47.1%
EBITDA Margin	-6.3%	-8.2%	·	-4.7%	-24.4%	-37.1%	·	-29.4%	-19.1%	-21.3%	·	-52.8%	-27.0%	-17.5%	·	-27.5%
ROA	-3.5%	-3.9%	·	-3.6%	-5.4%	-6.5%	·	-6.0%	-6.0%	-6.3%	·	-12.8%	-6.9%	-6.8%	·	-11.1%
ROE	-52.9%	-50.2%	·	-45.4%	-49.0%	-43.4%	·	-52.8%	-34.4%	-79.2%	·	-182.9%	-47.3%	-75.0%	·	-59.0%
ROIC	-1.5%	-2.5%	·	-1.5%	-6.0%	-6.9%	·	-6.0%	-4.0%	-3.6%	·	-10.0%	-6.1%	-5.4%	·	-715.5%

Liquidity & Solvency 5

Metric	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	3.8	3.0	·	3.3	2.8	3.4	·	3.6	4.4	4.2	·	3.7	4.8	3.4	·	4.3
Quick Ratio	2.3	1.7	·	2.0	1.5	1.9	·	2.1	2.7	2.6	·	2.1	3.3	2.0	·	3.0
Debt / Equity	12.1	16.8	·	15.7	9.9	5.7	·	5.9	4.3	3.4	·	6.1	3.3	-11.2	·	·
LT Debt / Equity	12.1	16.8	·	15.1	9.7	5.7	·	5.9	4.3	3.4	·	6.1	3.3	-11.2	·	·
Interest Coverage	·	·	·	·	·	·	·	-2.5	-1.8	-2.0	·	-5.7	-3.8	-2.2	·	-2.7

Efficiency 3

Metric	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	0.1	·	0.1	0.2	0.1	·	0.2	0.2	0.3	·	0.2
Inventory Turnover	0.2	0.2	·	0.2	0.2	0.2	·	0.2	0.3	0.2	·	0.3	0.4	0.4	·	0.4
Receivables Turnover	0.9	0.9	·	0.8	0.8	0.7	·	0.7	0.8	0.8	·	0.9	1.2	1.3	·	1.4

Per Share 5

Metric	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
Book Value / Share	$0.73	$0.50	·	$0.56	$0.79	$1.33	·	$1.17	$1.61	$2.07	·	$1.18	$2.13	$-0.65	·	$0.06
Revenue / Share	$2.24	$2.00	·	$1.82	$1.77	$1.40	·	$1.42	$1.58	$1.34	·	$1.48	$1.90	$1.89	·	$1.56
Cash Flow / Share	·	$-0.14	·	·	·	$-0.70	·	·	·	$-0.40	·	·	·	$-0.84	·	·
Cash / Share	$2.39	$2.32	·	$2.43	$1.89	$2.39	·	$1.42	$1.95	$2.66	·	$2.02	$3.50	$1.75	·	$2.68
EPS (TTM)	$-1.29	$-1.47	·	$-2.86	$-3.07	$-3.12	·	$-2.61	$-3.14	$-3.17	·	$-2.81	$-2.45	$-3.32	·	$-3.12

Valuation (TTM) 11

Metric	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	$246M	$230M	·	$191M	$177M	$170M	·	$153M	$151M	$156M	·	$177M	$177M	$170M	·	$153M
Net Income TTM	$-39M	$-44M	·	$-83M	$-89M	$-89M	·	$-71M	$-83M	$-83M	·	$-72M	$-61M	$-81M	·	$-76M
Market Cap	$2.56B	$1.67B	·	$1.19B	$1.24B	$1.18B	·	$1.21B	$1.27B	$1.40B	·	$1.27B	$1.77B	$1.66B	·	$1.33B
Enterprise Value	$2.75B	$1.85B	·	$1.38B	$1.41B	$1.33B	·	$1.36B	$1.41B	$1.52B	·	$1.40B	$1.86B	$1.79B	·	·
P/E	-66.5	-38.6	·	-14.3	-13.9	-13.1	·	-16.6	-14.5	-16.1	·	-17.5	-28.0	-20.4	·	-17.5
P/S	10.4	7.3	·	6.2	7.0	6.9	·	7.9	8.4	9.0	·	7.1	10.0	9.8	·	8.7
P/B	118.3	112.9	·	72.8	54.4	30.6	·	37.0	28.2	24.6	·	41.5	32.2	-103.6	·	875.1
P / Tangible Book	233.1	390.7	·	250.5	119.3	45.8	·	53.9	36.8	29.8	·	52.1	35.2	·	·	·
P / Cash Flow	·	-387.1	·	·	·	-56.9	·	·	·	-125.4	·	·	·	-80.4	·	·
EV / Revenue	11.2	8.1	·	7.2	7.9	7.8	·	8.9	9.3	9.7	·	7.9	10.5	10.6	·	·
Earnings Yield	-1.5%	-2.6%	·	-7.0%	-7.2%	-7.6%	·	-6.0%	-6.9%	-6.2%	·	-5.7%	-3.6%	-4.9%	·	-5.7%

Most recent period on the left · null values shown as ·

Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years

16

Metric	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31
Revenue	$211M	$166M	$165M	$162M	$127M
Gross Margin %	69.3%	66.0%	64.8%	65.9%	67.4%
Operating Margin %	-18.5%	-30.1%	-39.4%	-24.5%	-19.8%
Net Income	$-51M	$-85M	$-79M	$-75M	$-41M
Diluted EPS	$-1.72	$-3.00	$-3.07	$-3.08	$-1.72

Metric	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31
Debt / Equity	10.5	4.1	10.3	·	·
Current Ratio	3.0	3.6	3.1	3.8	3.6
Quick Ratio	1.9	2.3	1.5	2.6	2.4

Metric	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31
Free Cash Flow	$-57M	$-65M	$-96M	$-55M	$-30M

Institutional owners (13F) 217 filers · $2.3B total · As of Sept. 30, 2026

17

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.

Holders 217

Value held $2.3B

New positions 57

Exited positions 32

Institutional activity — Q2 2026 vs prior quarter

New positions	Exited positions	Increased	Decreased	Net shares change
57 (+22 vs prior Q)	32 (+11 vs prior Q)	70 (+2 vs prior Q)	56 (0 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
JW Asset Management, LLC	$231,073,973	2,692,856	9.97%	Shares
RTW INVESTMENTS, LP	$227,885,188	2,655,695	9.84%	Shares
BlackRock, Inc.	$135,751,849	1,582,005	5.86%	Shares
BROWN ADVISORY INC	$112,681,264	1,313,148	4.86%	Shares
FINDELL CAPITAL MANAGEMENT LLC	$94,047,760	1,096,000	4.06%	Shares
Mudita Advisors LLP	$62,046,036	723,063	2.68%	Shares
WILLIAM BLAIR INVESTMENT MANAGEMENT, LLC	$61,272,716	714,051	2.64%	Shares
Rubric Capital Management LP	$59,065,168	688,325	2.55%	Shares
FRANKLIN RESOURCES INC	$52,661,425	613,698	2.27%	Shares
BANK OF AMERICA CORP /DE/	$52,175,913	608,040	2.25%	Shares
Tyro Capital Management LLC	$51,963,018	605,559	2.24%	Shares
D. E. Shaw & Co., Inc.	$48,646,547	566,910	2.10%	Shares
RICE HALL JAMES & ASSOCIATES, LLC	$48,133,832	560,935	2.08%	Shares
UBS Group AG	$47,106,258	548,960	2.03%	Shares
TORONTO DOMINION BANK	$46,339,459	540,024	2.00%	Shares
SUMMIT PARTNERS PUBLIC ASSET MANAGEMENT, LLC	$42,174,414	491,486	1.82%	Shares
ROYCE & ASSOCIATES LP	$40,529,436	472,316	1.75%	Shares
STATE STREET CORP	$39,070,580	455,315	1.69%	Shares
TWO SIGMA INVESTMENTS, LP	$38,479,349	448,425	1.66%	Shares
GEODE CAPITAL MANAGEMENT, LLC	$33,132,170	386,142	1.43%	Shares
JANE STREET GROUP, LLC	$31,003,325	361,302	1.34%	Shares
GILDER GAGNON HOWE & CO LLC	$29,349,852	342,033	1.27%	Shares
Nantahala Capital Management, LLC	$28,817,572	335,830	1.24%	Shares
Nuveen, LLC	$27,587,744	321,498	1.19%	Shares
MORGAN STANLEY	$25,686,982	299,347	1.11%	Shares
BAMCO INC /NY/	$24,550,069	286,098	1.06%	Shares
BNP PARIBAS FINANCIAL MARKETS	$23,955,492	279,169	1.03%	Shares
Woodson Capital Management, LP	$23,597,750	275,000	1.02%	Shares
BOOTHBAY FUND MANAGEMENT, LLC	$21,717,739	253,091	0.94%	Shares
First Light Asset Management, LLC	$21,158,772	246,577	0.91%	Shares
VANGUARD PORTFOLIO MANAGEMENT LLC	$20,803,605	242,438	0.90%	Shares
NORTHERN TRUST CORP	$20,179,852	235,169	0.87%	Shares
RAYMOND JAMES FINANCIAL INC	$17,221,552	200,694	0.74%	Shares
Capital Research Global Investors	$16,220,578	189,029	0.70%	Shares
JPMORGAN CHASE & CO	$15,986,496	181,748	0.69%	Shares
ADAR1 Capital Management, LLC	$15,927,966	185,619	0.69%	Shares
Voleon Capital Management LP	$14,911,890	173,778	0.64%	Shares
TWO SIGMA ADVISERS, LP	$14,707,184	201,800	0.63%	Shares
GARNET EQUITY CAPITAL HOLDINGS, INC.	$14,629,747	170,490	0.63%	Shares
GOLDMAN SACHS GROUP INC	$14,354,040	167,277	0.62%	Shares
Affinity Asset Advisors, LLC	$12,700,996	148,013	0.55%	Shares
HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND	$12,468,193	145,300	0.54%	Shares
Granite Investment Partners, LLC	$12,312,448	143,485	0.53%	Shares
Assenagon Asset Management S.A.	$11,661,322	135,897	0.50%	Shares
Pier Capital, LLC	$11,482,236	133,810	0.50%	Shares
BARCLAYS PLC	$11,315,507	131,867	0.49%	Shares
Tejara Capital Ltd	$11,239,308	130,979	0.49%	Shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP	$11,120,976	129,600	0.48%	Call option
DEUTSCHE BANK AG\	$10,995,522	128,138	0.47%	Shares
STATE OF WISCONSIN INVESTMENT BOARD	$10,809,228	125,967	0.47%	Shares

Show all 217 institutional owners →

Company insiders 22 insiders · 9 officers · 12 directors

19

Insider	Role	Last activity	Shares owned	Sells 12m	Net 12m
Filippo Caldini	Chief Executive Officer	Aug. 20, 2026 F	48,829	0	$0
Cassandra Harris	Chief Financial Officer	March 9, 2026 A	7,372	0	$0
Raj Denhoy	Chief Financial Officer	March 13, 2025 A	23,348	0	$0
Renee Gaeta	Chief Financial Officer	May 21, 2021 M	0	0	$0
Paul D. Rodio	Chief Operating Officer	March 6, 2023 J	0	0	$0
Santos Salvador Dada	Chief Operating Officer	Feb. 12, 2021 A	99,660	0	$0
Pratip Dastidar	Head of Global Operations	April 10, 2022 A	6,811	0	$0
Roberto De Mezerville	Chief Technology Officer	May 21, 2021 S	107,844	0	$0
Eddie De Oliveira	VP of Sales, Brazil	April 25, 2019 A	9,056	0	$0
Ann Custin	Director	Sept. 30, 2026 A	24,626	0	$0
Leslie Gillin	Director	Sept. 30, 2026 A	18,856	0	$0
Bryan Slotkin	Director	Sept. 30, 2026 A	33,052	0	$0
Nicholas Sheridan Lewin	Director	Sept. 30, 2026 A	1,080,349	0	$0
Edward J Schutter	Director	Sept. 30, 2026 A	178,205	0	$0
Taylor C. Harris	Director	June 24, 2026 A	3,230	0	$0
Quiros Juan Jose Chacon	Director	April 24, 2026 A	56,508	21	$-22,853,633
Dennis E Condon	Director	Dec. 31, 2024 A	9,385	0	$0
Lisa N Colleran	Director	June 17, 2022 A	45,276	0	$0
Lisa Gersh	Director	Aug. 5, 2021 M	0	0	$0
David Hung	Director	May 26, 2020 A	·	0	$0
CPH TU, LP	10% owner	May 20, 2019 J	0	0	$0
Samuel Ross Mansbach	·	March 6, 2026 F	18,663	0	$0

Insiders from SEC Form 3/4/5 filings; net = open-market P/S only

ETF ownership Held by 14 ETFs

20

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
PTH · Invesco Exchange-Traded Fund Trust	1.00%	57,192 SH	Oct. 1, 2026	Daily
DWAS · Invesco Exchange-Traded Fund Trust …	0.32%	20,305 SH	Oct. 1, 2026	Daily
VTWG · VANGUARD SCOTTSDALE FUNDS	0.14%	29,067 SH	Aug. 19, 2026	Daily
IWO · iShares Trust	0.13%	252,894 SH	Sept. 11, 2026	Daily
RSSL · Global X Funds	0.08%	12,976 NS	July 31, 2026	N-PORT
VTWO · VANGUARD SCOTTSDALE FUNDS	0.07%	155,998 SH	Aug. 19, 2026	Daily
IWM · iShares Trust	0.06%	691,115 SH	Sept. 11, 2026	Daily
ISCG · iShares Trust	0.06%	7,647 SH	Sept. 11, 2026	Daily
ESML · iShares Trust	0.05%	21,177 SH	Sept. 11, 2026	Daily
VHT · VANGUARD WORLD FUND	0.02%	55,138 SH	Aug. 19, 2026	Daily
WSML · iShares Trust	0.01%	1,004 SH	Sept. 11, 2026	Daily
IWV · iShares Trust	0.00%	7,268 SH	Sept. 11, 2026	Daily
VTHR · VANGUARD SCOTTSDALE FUNDS	0.00%	2,235 SH	Aug. 19, 2026	Daily
ISCB · iShares Trust	·	1,109 SH	Sept. 11, 2026	Daily

ESTA Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside

21

rating · 15 analysts BUY

Median target $105.00 +63.9%

6 40.0% Strong Buy

8 53.3% Buy

1 6.7% Hold

0 0.0% Sell

0 0.0% Strong Sell

12-Month Price Target

9 analysts · 2026-10-01

Mean target $102.44 +59.9%

← Below all targets Current price $64.06

Low$92.00 Mean$102.44 High$117.00

Latest News Recent headlines mentioning this company

23

Wealth Manager Sells $7 Million of Establishment Labs After Massive Gains. Is This Medical Device Stock a Buy? Nasdaq · 4 months ago ESTA Founder Sells $7.9M on Earnings Day — Here's Why that's Not the Story Nasdaq · 4 months, 3 weeks ago

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ESTA Establishment Labs Holdings Inc. - Common Shares