FSLY Fastly, Inc. - Class A Common Stock
$28.16
Price · Aug 18, 2026
Fundamentals as of Aug 5, 2026
52W Range
$7–$35
76% of range
Analyst Rating
BUY
18 analysts
Price Target
$27
P/E (TTM)
-35.0
ROE
-13.0%
Net Profit Margin
-19.5%
About Fastly, Inc. - Class A Common Stock Company overview from Wikipedia
Fastly, Inc. is an American company based in San Francisco, which describes itself as a cloud computing company. Fastly provides content delivery network services, image optimization, and load balancing services. Fastly's cloud security services include denial-of-service attack protection, bot mitigation, and a web application firewall.
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Fastly, Inc. is an American company based in San Francisco, which describes itself as a cloud computing company. Fastly provides content delivery network services, image optimization, and load balancing services. Fastly's cloud security services include denial-of-service attack protection, bot mitigation, and a web application firewall.
History
Founding and IPO (2011–2019)
Fastly was founded in 2011 by the Swedish-American entrepreneur Artur Bergman, previously chief technical officer at Wikia (now Fandom). In June 2013, Fastly raised $10 million in Series B funding. In April 2014, the company announced that it had acquired CDN Sumo, a CDN add-on for Heroku. In September 2014, Fastly raised a further $40 million in Series C funding, followed by a $75 million Series D round in August 2015.
In September 2015, Google partnered with Fastly and other content delivery network providers to offer services to its users. In April 2017, Fastly launched its edge cloud platform along with image optimization, load balancing, and a web application firewall.
Fastly raised $50 million in funding in April 2017, and another $40 million in July 2018. The company filed for an initial public offering (IPO) in April 2019 and debuted on the New York Stock Exchange on May 17, 2019.
Joshua Bixby as CEO (2020–2022)
In February 2020, Bergman stepped down as CEO and assumed the role of chief architect and executive chairperson; Joshua Bixby took over the CEO role.
In August 2020, Fastly announced it was acquiring cybersecurity company Signal Sciences for $775 million ($200 million in cash and $575 million in stock).
In June 2021, Ronald W. Kisling, previously employed by Alphabet as the CFO of the Fitbit division, was hired to serve as Fastly's CFO, succeeding Adriel Lares. He assumed the position in August 2021.
On 8 June 2021, Fastly reported problems with its CDN service which caused many major websites, such as Reddit, gov.uk, and Amazon, along with major news sources such as The New York Times, The Guardian, and the BBC, to become unavailable. The outage was resolved by Fastly after a few hours. Fastly reported that the cause of the outage was a software bug triggered by a specific user configuration.
In May 2022, Fastly announced it had acquired Glitch, a web coding platform with more than 1.8 million developers.
Todd Nightingale as CEO (2022-2025)
In August 2022, Todd Nightingale, previously an executive VP at Cisco, was hired to serve as Fastly's CEO, succeeding Joshua Bixby.
In August 2023, it was announced Fastly has acquired the domain status API provider, Domainr.
In August of 2024, Fastly laid off 11% of its work force. Later in December 2024, Fastly issued $150 million in convertible senior notes with a 7.75% yield as part of a major debt restructuring.
Kip Compton as CEO (2025–present)
In June 2025, Kip Compton was appointed CEO. Kip was formerly Chief Product Officer, and previously held leadership roles at Cisco and Comcast.
In November 2025, Fastly announced that it would transfer its stock exchange listing from the New York Stock Exchange to the Nasdaq Global Select Market. The company began trading on Nasdaq under the ticker symbol FSLY in December 2025.
In March 2026, Fastly appointed Joan Jenkins as chief marketing officer.
Operation
Fastly's CDN service follows the reverse proxy model, routing all website traffic through its own servers instead of providing a 'cdn.mydomain.com' address to store site-specific files. It then fetches content from the point of presence nearest to the location of the requesting user. Content is not directly uploaded to its servers, rather it is pulled periodically from the origin server and cached in order to reduce the time required for an end-user to access the content. Fastly offers semantic web caching as a feature.
Fastly supports the UDP-based HTTP/3 protocol, as well as DRM enabled content, encryption and secure tokens to restrict media access.
The Fastly platform uses a heavily modified version of Varnish for its caching infrastructure. Fastly's network map listed 578 Tbps of connected global capacity as of March 31, 2026.
In March 2023, Fastly made all of its network services and web application security products available to its partners. Previously, some of the company's partners had only been able to sell specific Fastly products, such as its web application firewall. Also in March 2023, Fastly announced an Oblivious HTTP relay service to enable clients, such as Google Chrome, to improve anonymity of end users while gathering data.
Source: Wikipedia, CC BY-SA 4.0 · View on Wikipedia ↗
FSLY Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$28.16
Market Cap
$4.40B
P/E (TTM)
-35.0
EPS (TTM)
$-0.83
Revenue (TTM)
$624M
Div Yield
—
ROE
-13.0%
Debt/Equity
0.4
52W Range
$7 – $35
FSLY Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view
Configure
10-Year Performance Revenue, net income, margins and EPS trends
Revenue & Net Income
$624M
2017-12-31
→
2025-12-31
EPS
$-0.83
2019-12-31
→
2025-12-31
Free Cash Flow
$66M
2019-12-31
→
2025-12-31
Margins
-19.5%
2019-12-31
→
2025-12-31
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Metric
5Y trend
FSLY
Peer Median
P/E (TTM)
-35.0
52.1
P/S (TTM)
7.1
8.2
P/B
4.7
6.0
EV / EBITDA
-37.0
—
Price / FCF
67.0
—
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Metric
5Y trend
FSLY
Peer Median
Gross Margin
57.1%
61.6%
Operating Margin
-19.1%
—
Net Profit Margin
-19.5%
5.0%
ROA
-8.2%
1.8%
ROE
-13.0%
2.4%
ROIC
-9.4%
—
Financial Health Debt, liquidity, solvency — balance sheet strength
Metric
5Y trend
FSLY
Peer Median
Debt / Equity
0.4
63.1
Current Ratio
2.6
1.4
Quick Ratio
2.5
—
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Metric
5Y trend
FSLY
Peer Median
Revenue YoY
14.8%
—
Revenue CAGR 3Y
13.0%
—
Revenue CAGR 5Y
16.5%
—
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
Metric
5Y trend
FSLY
Peer Median
FSLY Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
BUY
18 analysts
- Strong Buy 3 16.7%
- Buy 7 38.9%
- Hold 7 38.9%
- Sell 1 5.6%
- Strong Sell 0 0.0%
12-Month Price Target
10 analysts · 2026-08-13
Median
$27.50
Now
$28.16
Low
$20.00
High
$32.00
Median target
$27.50
-2.3%
Mean target
$27.00
-4.1%
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
0.05%
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| June 30, 2026 | $0.15 | $0.07 | 0.08% |
| March 31, 2026 | $0.13 | $0.08 | 0.05% |
| Dec. 31, 2025 | $0.12 | $0.06 | 0.06% |
| Sept. 30, 2025 | $0.07 | $0.00 | 0.07% |
| June 30, 2025 | $-0.03 | $-0.05 | 0.02% |
| March 31, 2025 | $-0.05 | $-0.07 | 0.02% |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| FSLY | $1.54B | -12.3 | 14.8% | -19.5% | -13.0% | 57.1% |
| DOCN | $4.42B | 19.1 | 15.5% | 28.8% | -254.3% | 59.9% |
| GDDY | $16.72B | 19.9 | 8.3% | 17.7% | 282.5% | — |
| APLD | $13.61B | -52.0 | 167.5% | -30.1% | -11.6% | — |
| SHAZ | — | — | 257.4% | -2529.2% | -401.0% | 6.4% |
| SHAZ | — | — | 257.4% | -2529.2% | -401.0% | 6.4% |
| BLZE | — | -10.1 | 14.3% | -17.6% | -31.4% | 60.9% |
| RXT | $238M | -1.0 | -1.9% | -8.4% | 19.3% | 18.9% |
| WYFI | $606M | -20.3 | 66.2% | -31.2% | -6.2% | 60.2% |
| SNOW | $66.35B | -48.8 | 29.2% | -28.4% | -54.1% | 67.2% |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement 18
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | $624M | $544M | $506M | $433M | $354M | $291M | $200M | $145M | |
| Cost of Revenue | $268M | $248M | $240M | $223M | $167M | $120M | $88M | $65M | |
| Gross Profit | $356M | $296M | $266M | $210M | $187M | $171M | $112M | $79M | |
| R&D Expense | $163M | $138M | $152M | $155M | $127M | $75M | $46M | $35M | |
| SG&A Expense | $111M | $113M | $116M | $121M | $127M | $102M | $41M | $23M | |
| Operating Expenses | $475M | $464M | $464M | $456M | $406M | $278M | $159M | $108M | |
| Operating Income | $-119M | $-168M | $-198M | $-246M | $-219M | $-107M | $-47M | $-29M | |
| Interest Expense | · | · | $4M | $6M | $5M | $2M | $5M | $2M | |
| Interest Income | $12M | $15M | $18M | $7M | $1M | $2M | $3M | $939.0K | |
| Other Non-op | $-721.0K | $-1M | $-2M | $-29.0K | $356.0K | $-279.0K | $-3M | $-741.0K | |
| Pretax Income | $-119M | $-155M | $-133M | $-191M | $-223M | $-107M | $-51M | $-31M | |
| Income Tax | $2M | $3M | $-221.0K | $94.0K | $69.0K | $-11M | $492.0K | $185.0K | |
| Net Income | $-122M | $-158M | $-133M | $-191M | $-223M | $-96M | $-52M | $-31M | |
| EPS (Basic) | $-0.83 | $-1.14 | $-1.03 | $-1.57 | $-1.92 | $-0.93 | $-0.75 | · | |
| EPS (Diluted) | $-0.83 | $-1.14 | $-1.03 | $-1.57 | $-1.92 | $-0.93 | $-0.75 | · | |
| Shares (Basic) | 146,902,000 | 138,099,000 | 128,770,000 | 121,723,000 | 116,053,000 | 103,552,000 | 68,350,000 | · | |
| Shares (Diluted) | 146,902,000 | 138,099,000 | 128,770,000 | 121,723,000 | 116,053,000 | 103,552,000 | 68,350,000 | · | |
| EBITDA | $-119M | $-168M | $-198M | $-246M | $-190M | $-87M | $-30M | · |
Balance Sheet 29
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $181M | $286M | $108M | $143M | $166M | $63M | $16M | $37M | |
| Short-term Investments | $181M | $10M | $215M | $375M | · | $131M | $115M | $47M | |
| Receivables | $118M | $116M | $120M | $90M | $65M | $50M | $37M | $25M | |
| Prepaid Expense | $27M | $28M | $20M | $29M | $32M | $17M | $11M | $9M | |
| Other Current Assets | $10M | $6M | · | · | · | · | · | · | |
| Current Assets | $507M | $440M | $464M | $636M | $625M | $261M | $249M | $117M | |
| PP&E (Net) | · | · | · | $180M | $167M | $96M | $60M | $42M | |
| PP&E (Gross) | · | · | · | $303M | $255M | $158M | $108M | $78M | |
| Accum. Depreciation | · | · | · | $122M | $88M | $62M | $48M | $36M | |
| Goodwill | $670M | $670M | $670M | $670M | $637M | $636M | $372.0K | $360.0K | |
| Intangibles | $26M | $43M | $62M | $83M | $103M | $122M | $1M | $610.0K | |
| Other Non-current Assets | $58M | $68M | $91M | $93M | $29M | $25M | $10M | $2M | |
| Total Assets | $1.50B | $1.45B | $1.53B | $1.90B | $2.16B | $1.22B | $321M | $163M | |
| Accounts Payable | $18M | $6M | $6M | $5M | $9M | $9M | $5M | $2M | |
| Accrued Liabilities | $71M | $42M | $62M | $61M | $36M | $34M | $20M | $16M | |
| Current Liabilities | $194M | $104M | $148M | $152M | $132M | $94M | $37M | $32M | |
| Capital Leases | $44M | $40M | $48M | $61M | $55M | $45M | $0 | $2M | |
| Other Non-current Liabilities | $9M | $4M | $4M | $7M | $3M | $4M | $1M | $647.0K | |
| Total Liabilities | $570M | $486M | $546M | $941M | $1.15B | $158M | $63M | $75M | |
| Long-term Debt | $362M | $338M | · | · | $933M | · | $25M | $51M | |
| Total Debt | $362M | $338M | $344M | $705M | $933M | $0 | · | · | |
| Common Stock | · | $3.0K | $3.0K | $2.0K | $2.0K | $2.0K | $2.0K | $1.0K | |
| Paid-in Capital | $2.04B | $1.96B | $1.82B | $1.67B | $1.53B | $1.35B | $449M | $16M | |
| Retained Earnings | $-1.11B | $-993M | $-835M | $-702M | $-511M | $-288M | $-192M | $-146M | |
| Treasury Stock | · | · | · | · | · | · | $0 | $2M | |
| AOCI | $-41.0K | $-100.0K | $-1M | $-9M | $-3M | $6.0K | $196.0K | $-36.0K | |
| Stockholders' Equity | $930M | $965M | $979M | $955M | $1.01B | $1.06B | $258M | $-132M | |
| Liabilities + Equity | $1.50B | $1.45B | $1.53B | $1.90B | $2.16B | $1.22B | $321M | $163M | |
| Shares Outstanding | 151,500,000 | 142,086,000 | 132,992,000 | 124,336,000 | 118,811,000 | 113,623,196 | 94,817,715 | 25,025,836 |
Cash Flow 16
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
| D&A | · | · | · | · | $29M | $20M | $17M | $13M | |
| Stock-based Comp | $117M | $108M | $136M | $146M | $140M | $64M | $12M | $4M | |
| Deferred Tax | $1M | $2M | $-900.0K | $0 | $0 | · | · | · | |
| Amort. of Intangibles | $17M | $20M | $20M | $22M | $21M | $5M | $100.0K | $100.0K | |
| Restructuring | $0 | $10M | $0 | $0 | · | · | · | · | |
| Other Non-cash | · | · | · | · | $15M | $-8M | $-8M | · | |
| Operating Cash Flow | $94M | $16M | $362.0K | $-70M | $-38M | $-20M | $-31M | $-17M | |
| CapEx | $29M | $10M | $11M | $20M | $35M | $30M | $15M | $17M | |
| Investing Cash Flow | $-213M | $179M | $295M | $236M | $-795M | $-275M | $-88M | $-47M | |
| Stock Issued | · | · | · | $0 | $0 | $275M | $0 | $0 | |
| Net Stock Activity | · | · | · | $0 | $0 | $275M | · | · | |
| Financing Cash Flow | $13M | $-17M | $-331M | $-189M | $937M | $273M | $168M | $70M | |
| Net Change in Cash | $-106M | $178M | $-35M | $-23M | $103M | $-22M | $49M | $6M | |
| Taxes Paid | $1M | $809.0K | $331.0K | $250.0K | $267.0K | $1M | $361.0K | $55.0K | |
| Free Cash Flow | $66M | $6M | $-11M | $-90M | $-73M | $-49M | $-46M | · | |
| Levered FCF | · | · | $-15M | $-95M | $-79M | $-51M | $-51M | · |
Profitability 8
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 57.1% | 54.4% | 52.6% | 48.5% | 52.9% | 58.7% | 55.9% | · | |
| Operating Margin | -19.1% | -30.9% | -39.1% | -56.9% | -61.8% | -36.9% | -23.2% | · | |
| Net Margin | -19.5% | -29.1% | -26.3% | -44.1% | -62.8% | -33.0% | -25.7% | · | |
| Pretax Margin | -19.1% | -28.6% | -26.4% | -44.1% | -62.8% | -36.9% | -25.5% | · | |
| EBITDA Margin | -19.1% | -30.9% | -39.1% | -56.9% | -53.7% | -30.0% | -15.0% | · | |
| ROA | -8.2% | -10.6% | -7.8% | -9.4% | -13.2% | -12.4% | -21.3% | · | |
| ROE | -13.0% | -16.3% | -13.7% | -19.9% | -21.9% | -12.0% | -19.9% | · | |
| ROIC | -9.4% | -13.1% | -14.9% | -14.8% | -11.2% | -9.0% | -18.2% | · |
Liquidity & Solvency 5
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.6 | 4.2 | 3.1 | 4.2 | 4.7 | 2.8 | 6.7 | · | |
| Quick Ratio | 2.5 | 3.9 | 3.0 | 1.5 | 1.7 | 1.2 | 1.4 | · | |
| Debt / Equity | 0.4 | 0.3 | 0.4 | 0.7 | 0.9 | 0.0 | · | · | |
| LT Debt / Equity | 0.3 | 0.3 | 0.4 | 0.7 | 0.9 | 0.0 | · | · | |
| Interest Coverage | · | · | -48.9 | -41.8 | -41.8 | -69.2 | -8.9 | · |
Efficiency 2
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.4 | 0.4 | 0.3 | 0.2 | 0.2 | 0.4 | 0.8 | · | |
| Receivables Turnover | 5.3 | 4.6 | 4.8 | 5.6 | 6.2 | 6.7 | 6.5 | · |
Growth Rates 3
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue YoY | 14.8% | 7.4% | 16.9% | 22.1% | 21.8% | · | · | · | |
| Revenue CAGR 3Y | 13.0% | 15.3% | 20.3% | · | · | · | · | · | |
| Revenue CAGR 5Y | 16.5% | · | · | · | · | · | · | · |
Valuation (TTM) 14
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $624M | $544M | $506M | $433M | $354M | $291M | $200M | · | |
| Net Income TTM | $-122M | $-158M | $-133M | $-191M | $-223M | $-96M | $-52M | · | |
| Market Cap | $1.54B | $1.34B | $2.37B | $1.02B | $4.21B | $9.93B | $1.90B | · | |
| Enterprise Value | $1.54B | $1.38B | $2.39B | $1.58B | $4.98B | $9.86B | · | · | |
| P/E | -12.3 | -8.3 | -17.3 | -5.2 | -18.5 | -93.9 | -26.8 | · | |
| P/S | 2.5 | 2.5 | 4.7 | 2.4 | 11.9 | 34.1 | 9.5 | · | |
| P/B | 1.7 | 1.4 | 2.4 | 1.1 | 4.2 | 9.3 | 7.4 | · | |
| P / Tangible Book | 6.6 | 5.3 | 9.6 | 5.0 | 15.3 | 32.6 | · | · | |
| P / Cash Flow | 16.3 | 81.8 | 6539.4 | -14.6 | -109.4 | -498.5 | -60.8 | · | |
| P / FCF | 23.5 | 220.8 | -223.0 | -11.4 | -57.5 | -200.6 | -41.4 | · | |
| EV / EBITDA | -13.0 | -8.2 | -12.1 | -6.4 | -26.2 | -113.1 | · | · | |
| EV / FCF | 23.5 | 227.6 | -225.0 | -17.6 | -67.9 | -199.3 | · | · | |
| EV / Revenue | 2.5 | 2.5 | 4.7 | 3.7 | 14.1 | 33.9 | · | · | |
| Earnings Yield | -8.2% | -12.1% | -5.8% | -19.2% | -5.4% | -1.1% | -3.7% | · |
Income Statement 18
| 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 | $183M | $173M | $173M | $158M | $149M | $144M | $141M | $137M | $132M | $134M | $138M | $128M | $123M | $118M | $119M | $109M | |
| Cost of Revenue | $67M | $65M | $67M | $66M | $68M | $68M | $66M | $62M | $59M | $60M | $62M | $62M | $59M | $57M | $57M | $56M | |
| Gross Profit | $116M | $108M | $106M | $92M | $81M | $77M | $75M | $75M | $73M | $73M | $76M | $66M | $64M | $60M | $63M | $53M | |
| R&D Expense | $42M | $42M | $42M | $41M | $42M | $37M | $33M | $32M | $35M | $38M | $38M | $39M | $37M | $37M | $37M | $39M | |
| SG&A Expense | $32M | $35M | $28M | $30M | $24M | $28M | $26M | $27M | $28M | $32M | $31M | $30M | $29M | $26M | $29M | $32M | |
| Operating Expenses | $130M | $132M | $121M | $121M | $118M | $115M | $109M | $115M | $120M | $119M | $118M | $124M | $114M | $108M | $111M | $118M | |
| Operating Income | $-14M | $-24M | $-15M | $-29M | $-37M | $-38M | $-34M | $-41M | $-47M | $-46M | $-43M | $-58M | $-50M | $-47M | $-48M | $-66M | |
| Interest Expense | · | · | · | · | · | · | · | · | · | $579.0K | · | $862.0K | $1M | $1M | · | $1M | |
| Interest Income | $3M | $3M | $3M | $3M | $3M | $3M | $3M | $4M | $4M | $4M | $5M | $5M | $5M | $4M | $3M | $2M | |
| Other Non-op | $-400.0K | $-380.0K | $-625.0K | $-55.0K | $39.0K | $-80.0K | $-815.0K | $-317.0K | $193.0K | $-89.0K | $-763.0K | $-16.0K | $-803.0K | $-250.0K | $46.0K | $2M | |
| Pretax Income | $-15M | $-25M | $-15M | $-29M | $-37M | $-38M | $-32M | $-38M | $-43M | $-43M | $-24M | $-54M | $-11M | $-45M | $-47M | $-63M | |
| Income Tax | $252.0K | $-4M | $681.0K | $559.0K | $557.0K | $691.0K | $1M | $455.0K | $661.0K | $347.0K | $-465.0K | $-1.0K | $110.0K | $135.0K | $-223.0K | $118.0K | |
| Net Income | $-16M | $-21M | $-16M | $-29M | $-38M | $-39M | $-33M | $-38M | $-44M | $-43M | $-23M | $-54M | $-11M | $-45M | $-47M | $-63M | |
| EPS (Basic) | $-0.10 | $-0.13 | $-0.10 | $-0.20 | $-0.26 | $-0.27 | $-0.23 | $-0.27 | $-0.32 | $-0.32 | $-0.17 | $-0.42 | $-0.08 | $-0.36 | $-0.37 | $-0.52 | |
| EPS (Diluted) | $-0.10 | $-0.13 | $-0.10 | $-0.20 | $-0.26 | $-0.27 | $-0.23 | $-0.27 | $-0.32 | $-0.32 | $-0.17 | $-0.42 | $-0.08 | $-0.36 | $-0.37 | $-0.52 | |
| Shares (Basic) | 157,596,000 | 153,579,000 | -290,291,000 | 148,129,000 | 145,780,000 | 143,284,000 | -273,169,000 | 139,237,000 | 137,444,000 | 134,587,000 | -254,384,000 | 129,873,000 | 127,863,000 | 125,418,000 | -241,531,000 | 122,339,000 | |
| Shares (Diluted) | 157,596,000 | 153,579,000 | -290,291,000 | 148,129,000 | 145,780,000 | 143,284,000 | -273,169,000 | 139,237,000 | 137,444,000 | 134,587,000 | -254,384,000 | 129,873,000 | 127,863,000 | 125,418,000 | -241,531,000 | 122,339,000 | |
| EBITDA | $-14M | $-24M | · | $-29M | $-37M | $-38M | · | $-41M | $-47M | $-46M | · | $-58M | $-50M | $-47M | · | $-66M |
Balance Sheet 28
| 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 | $90M | $147M | $181M | $113M | $82M | $125M | $286M | $218M | $147M | $151M | $108M | $270M | $274M | $348M | $143M | $88M | |
| Short-term Investments | $248M | $184M | $181M | $230M | $239M | $182M | $10M | $91M | $165M | $179M | · | · | · | · | · | · | |
| Receivables | $114M | $130M | $118M | $109M | $117M | $119M | $116M | $117M | $114M | $108M | · | $99M | $78M | $85M | · | $73M | |
| Prepaid Expense | $27M | $30M | $27M | $28M | $26M | $26M | $28M | $28M | $25M | $23M | · | $24M | $30M | $30M | · | $31M | |
| Other Current Assets | · | $12M | $10M | · | · | · | $6M | · | · | · | · | · | · | · | · | · | |
| Current Assets | $479M | $490M | $507M | $480M | $465M | $453M | $440M | $453M | $451M | $460M | · | $551M | $505M | $662M | · | $637M | |
| PP&E (Net) | · | · | · | · | · | · | · | · | · | · | · | · | $179M | $180M | · | $179M | |
| PP&E (Gross) | · | · | · | · | · | · | · | · | · | · | · | · | $320M | $311M | · | $286M | |
| Accum. Depreciation | · | · | · | · | · | · | · | · | · | · | · | · | $141M | $131M | · | $107M | |
| Goodwill | $670M | $670M | $670M | $670M | $670M | $670M | $670M | $670M | $670M | $670M | · | $670M | $670M | $670M | $670M | $670M | |
| Intangibles | $21M | $23M | $26M | $28M | $33M | $38M | $43M | $48M | $53M | $58M | · | $67M | $73M | $78M | · | $88M | |
| Other Non-current Assets | $54M | $56M | $58M | $56M | $60M | $62M | $68M | $73M | $79M | $84M | · | $94M | $96M | $95M | · | $73M | |
| Total Assets | $1.50B | $1.51B | $1.50B | $1.47B | $1.46B | $1.45B | $1.45B | $1.47B | $1.48B | $1.51B | · | $1.64B | $1.66B | $1.86B | · | $1.91B | |
| Accounts Payable | $20M | $39M | $18M | $11M | $13M | $10M | $6M | $11M | $6M | $5M | · | $6M | $6M | $5M | · | $8M | |
| Accrued Liabilities | $53M | $46M | $71M | $60M | $45M | $37M | $42M | $41M | $34M | $36M | · | $57M | $47M | $42M | · | $54M | |
| Current Liabilities | $143M | $163M | $194M | $329M | $313M | $301M | $104M | $114M | $109M | $120M | · | $143M | $132M | $125M | · | $145M | |
| Capital Leases | $44M | $46M | $44M | $47M | $49M | $37M | $40M | $41M | $45M | $47M | · | $48M | $51M | $56M | · | $63M | |
| Other Non-current Liabilities | $2M | $3M | $9M | $8M | $9M | $5M | $4M | $3M | $3M | $3M | · | $4M | $7M | $6M | · | $7M | |
| Total Liabilities | $513M | $536M | $570M | $534M | $521M | $492M | $486M | $502M | $501M | $514M | · | $672M | $670M | $904M | · | $940M | |
| Long-term Debt | $324M | $324M | $362M | $338M | $338M | $338M | $338M | · | · | · | · | · | · | · | · | · | |
| Total Debt | $324M | $324M | · | $338M | $338M | $338M | · | $344M | $344M | $344M | · | $473M | $472M | $705M | · | $704M | |
| Common Stock | · | · | · | $3.0K | $3.0K | $3.0K | · | $3.0K | $3.0K | $3.0K | · | $2.0K | $2.0K | $2.0K | · | $2.0K | |
| Paid-in Capital | $2.14B | $2.11B | $2.04B | $2.04B | $2.01B | $1.99B | $1.96B | $1.93B | $1.90B | $1.87B | · | $1.78B | $1.75B | $1.71B | · | $1.63B | |
| Retained Earnings | $-1.15B | $-1.14B | $-1.11B | $-1.10B | $-1.07B | $-1.03B | $-993M | $-960M | $-922M | $-878M | · | $-811M | $-757M | $-746M | · | $-655M | |
| AOCI | $-493.0K | $-423.0K | $-41.0K | $-12.0K | $-169.0K | $-130.0K | $-100.0K | $-22.0K | $-282.0K | $-521.0K | · | $-2M | $-3M | $-6M | · | $-13M | |
| Stockholders' Equity | $991M | $977M | $930M | $937M | $943M | $957M | $965M | $969M | $981M | $992M | $979M | $969M | $988M | $959M | $955M | $967M | |
| Liabilities + Equity | $1.50B | $1.51B | $1.50B | $1.47B | $1.46B | $1.45B | $1.45B | $1.47B | $1.48B | $1.51B | · | $1.64B | $1.66B | $1.86B | · | $1.91B | |
| Shares Outstanding | 159,100,000 | 156,400,000 | 151,537,000 | 149,211,000 | 147,172,000 | 144,700,000 | 142,086,000 | 140,100,000 | 138,400,000 | 136,500,000 | 132,992,000 | 130,700,000 | 129,000,000 | 126,800,000 | 124,336,000 | · |
Cash Flow 12
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock-based Comp | $35M | $35M | $32M | $33M | $26M | $26M | $25M | $25M | $26M | $32M | $35M | $36M | $37M | $28M | $31M | $39M | |
| Deferred Tax | $-23.0K | $-4M | $395.0K | $289.0K | $327.0K | $422.0K | $893.0K | $339.0K | $333.0K | $228.0K | $-900.0K | $0 | $0 | $0 | · | · | |
| Amort. of Intangibles | $2M | $2M | $2M | $5M | $5M | $5M | $5M | $5M | $5M | $5M | $5M | $5M | $5M | $5M | $6M | $6M | |
| Restructuring | · | · | $0 | $0 | · | · | $0 | $10M | · | · | $0 | $0 | · | · | · | · | |
| Operating Cash Flow | $39M | $29M | $22M | $29M | $26M | $17M | $5M | $5M | $-5M | $11M | $-7M | $-8M | $25M | $-9M | $-12M | $-28M | |
| CapEx | $32M | $21M | $10M | $6M | $10M | $3M | $5M | $2M | $2M | $2M | $3M | $325.0K | $4M | $3M | $9M | $3M | |
| Investing Cash Flow | $-99M | $-27M | $36M | $-344.0K | $-70M | $-179M | $71M | $66M | $8M | $34M | $-37M | $8M | $105M | $220M | $73M | $62M | |
| Financing Cash Flow | $2M | $-36M | $9M | $2M | $982.0K | $828.0K | $-7M | $-1M | $-7M | $-2M | $-118M | $-3M | $-205M | $-6M | $-5M | $-8M | |
| Net Change in Cash | $-57M | $-34M | $67M | $31M | $-43M | $-161M | $69M | $70M | $-4M | $43M | $-162M | $-3M | $-75M | $205M | $55M | $25M | |
| Taxes Paid | $233.0K | $364.0K | $234.0K | $358.0K | $296.0K | $449.0K | $70.0K | $213.0K | $234.0K | $292.0K | $-38.0K | $-82.0K | $269.0K | $182.0K | $25.0K | $45.0K | |
| Free Cash Flow | · | $8M | · | · | · | $15M | · | · | · | $10M | · | · | · | $-12M | · | · | |
| Levered FCF | · | · | · | · | · | · | · | · | · | $9M | · | · | · | $-14M | · | · |
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 | 63.2% | 62.5% | · | 58.4% | 54.5% | 53.2% | · | 54.5% | 55.1% | 54.9% | · | 51.7% | 52.3% | 51.2% | · | 48.5% | |
| Operating Margin | -7.9% | -13.8% | · | -18.2% | -24.8% | -26.4% | · | -29.6% | -35.3% | -34.6% | · | -45.6% | -40.6% | -40.2% | · | -60.6% | |
| Net Margin | -8.5% | -11.9% | · | -18.6% | -25.2% | -27.1% | · | -27.7% | -33.0% | -32.5% | · | -42.5% | -8.7% | -38.0% | · | -58.5% | |
| Pretax Margin | -8.4% | -14.2% | · | -18.3% | -24.9% | -26.6% | · | -27.4% | -32.5% | -32.3% | · | -42.5% | -8.6% | -37.9% | · | -58.3% | |
| EBITDA Margin | -7.9% | -13.8% | · | -18.2% | -24.8% | -26.4% | · | -29.6% | -35.3% | -34.6% | · | -45.6% | -40.6% | -40.2% | · | -60.6% | |
| ROA | -1.1% | -1.4% | · | -2.0% | -2.5% | -2.6% | · | -2.4% | -2.8% | -2.6% | · | -3.1% | -0.60% | -2.2% | · | -3.1% | |
| ROE | -1.6% | -2.1% | · | -3.1% | -3.9% | -4.0% | · | -3.9% | -4.4% | -4.5% | · | -5.6% | -1.1% | -4.6% | · | -6.4% | |
| ROIC | -1.1% | -1.5% | · | -2.3% | -2.9% | -3.0% | · | -3.1% | -3.6% | -3.5% | · | -4.0% | -3.5% | -2.9% | · | -3.9% |
Liquidity & Solvency 5
| 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 | 3.4 | 3.0 | · | 1.5 | 1.5 | 1.5 | · | 4.0 | 4.1 | 3.8 | · | 3.8 | 3.8 | 5.3 | · | 4.4 | |
| Quick Ratio | 3.2 | 2.8 | · | 1.4 | 1.4 | 1.4 | · | 3.7 | 3.9 | 3.6 | · | 2.6 | 2.7 | 3.5 | · | 1.1 | |
| Debt / Equity | 0.3 | 0.3 | · | 0.4 | 0.4 | 0.4 | · | 0.4 | 0.4 | 0.3 | · | 0.5 | 0.5 | 0.7 | · | 0.7 | |
| LT Debt / Equity | 0.3 | 0.3 | · | 0.2 | 0.2 | 0.2 | · | 0.4 | 0.4 | 0.3 | · | 0.5 | 0.5 | 0.7 | · | 0.7 | |
| Interest Coverage | · | · | · | · | · | · | · | · | · | -79.9 | · | -67.7 | -40.4 | -39.0 | · | -47.6 |
Efficiency 2
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | |
| Receivables Turnover | 1.6 | 1.4 | · | 1.4 | 1.3 | 1.3 | · | 1.3 | 1.4 | 1.4 | · | 1.5 | 1.7 | 1.5 | · | 1.7 |
Valuation (TTM) 14
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $663M | $624M | · | $589M | $563M | $548M | · | $531M | $517M | $502M | · | $477M | $451M | $431M | · | $400M | |
| Net Income TTM | $-103M | $-127M | · | $-144M | $-158M | $-164M | · | $-179M | $-152M | $-153M | · | $-173M | $-135M | $-189M | · | $-200M | |
| Market Cap | $2.92B | $4.54B | · | $1.28B | $1.04B | $916M | · | $1.06B | $1.02B | $1.77B | · | $2.51B | $2.03B | $2.25B | · | · | |
| Enterprise Value | $2.91B | $4.54B | · | $1.27B | $1.06B | $946M | · | $1.10B | $1.05B | $1.78B | · | $2.71B | $2.23B | $2.61B | · | · | |
| P/E | -26.6 | -33.8 | · | -8.6 | -6.3 | -5.4 | · | -5.7 | -6.5 | -11.0 | · | -13.9 | -14.3 | -11.4 | · | -5.5 | |
| P/S | 4.4 | 7.3 | · | 2.2 | 1.8 | 1.7 | · | 2.0 | 2.0 | 3.5 | · | 5.3 | 4.5 | 5.2 | · | · | |
| P/B | 2.9 | 4.7 | · | 1.4 | 1.1 | 1.0 | · | 1.1 | 1.0 | 1.8 | · | 2.6 | 2.1 | 2.3 | · | · | |
| P / Tangible Book | 9.8 | 16.0 | · | 5.3 | 4.3 | 3.7 | · | 4.2 | 4.0 | 6.7 | · | 10.9 | 8.3 | 10.7 | · | · | |
| P / Cash Flow | · | 157.5 | · | · | · | 53.0 | · | · | · | 159.0 | · | · | · | -254.1 | · | · | |
| P / FCF | · | 579.3 | · | · | · | 62.4 | · | · | · | 185.8 | · | · | · | -182.3 | · | · | |
| EV / EBITDA | -201.5 | -189.9 | · | -44.1 | -28.6 | -24.8 | · | -27.0 | -22.5 | -38.6 | · | -46.4 | -44.8 | -55.2 | · | · | |
| EV / FCF | · | 578.5 | · | · | · | 64.5 | · | · | · | 187.3 | · | · | · | -211.2 | · | · | |
| EV / Revenue | 4.4 | 7.3 | · | 2.2 | 1.9 | 1.7 | · | 2.1 | 2.0 | 3.6 | · | 5.7 | 4.9 | 6.1 | · | · | |
| Earnings Yield | -3.8% | -3.0% | · | -11.7% | -15.9% | -18.6% | · | -17.6% | -15.5% | -9.1% | · | -7.2% | -7.0% | -8.8% | · | -18.3% |
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 | $624M | $544M | $506M | $433M | $354M |
| Gross Margin % | 57.1% | 54.4% | 52.6% | 48.5% | 52.9% |
| Operating Margin % | -19.1% | -30.9% | -39.1% | -56.9% | -61.8% |
| Net Income | $-122M | $-158M | $-133M | $-191M | $-223M |
| Diluted EPS | $-0.83 | $-1.14 | $-1.03 | $-1.57 | $-1.92 |
Balance Sheet
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Debt / Equity | 0.4 | 0.3 | 0.4 | 0.7 | 0.9 |
| Current Ratio | 2.6 | 4.2 | 3.1 | 4.2 | 4.7 |
| Quick Ratio | 2.5 | 3.9 | 3.0 | 1.5 | 1.7 |
Cash Flow
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Free Cash Flow | $66M | $6M | $-11M | $-90M | $-73M |
Latest News Recent headlines mentioning this company
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Institutional owners (13F) 331 filers · $1.9B 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 |
|---|---|---|---|---|
| 62 (-77 vs prior Q) | 104 (+72 vs prior Q) | 103 (+4 vs prior Q) | 93 (+8 vs prior Q) | +20.9M |
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 PORTFOLIO MANAGEMENT LLC | $180,197,965 | 9,814,704 | 9.46% | Shares |
| FMR LLC | $163,681,860 | 8,915,134 | 8.59% | Shares |
| Capital World Investors | $151,068,577 | 8,228,136 | 7.93% | Shares |
| FIRST TRUST ADVISORS LP | $141,023,251 | 7,681,005 | 7.40% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $115,936,350 | 6,314,616 | 6.08% | Shares |
| TWO SIGMA INVESTMENTS, LP | $111,307,702 | 6,062,511 | 5.84% | Shares |
| STATE STREET CORP | $64,939,999 | 3,537,037 | 3.41% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $61,700,839 | 3,359,928 | 3.24% | Shares |
| Alyeska Investment Group, L.P. | $58,115,385 | 3,165,326 | 3.05% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $52,402,084 | 2,854,144 | 2.75% | Shares |
| Driehaus Capital Management LLC | $46,715,294 | 2,544,406 | 2.45% | Shares |
| UBS Group AG | $43,714,793 | 2,380,980 | 2.29% | Call option |
| FULLER & THALER ASSET MANAGEMENT, INC. | $40,209,880 | 2,190,081 | 2.11% | Shares |
| Connor, Clark & Lunn Investment Management Ltd. | $31,164,393 | 1,697,407 | 1.64% | Shares |
| Divisadero Street Capital Management, LP | $31,106,650 | 1,694,262 | 1.63% | Shares |
| MILLENNIUM MANAGEMENT LLC | $27,818,723 | 1,515,181 | 1.46% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $22,960,649 | 1,250,580 | 1.20% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $21,312,288 | 1,160,800 | 1.12% | Call option |
| MILLENNIUM MANAGEMENT LLC | $21,156,228 | 1,152,300 | 1.11% | Put option |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $20,060,136 | 1,092,600 | 1.05% | Put option |
| VANGUARD FIDUCIARY TRUST CO | $19,296,727 | 1,051,020 | 1.01% | Shares |
| TWO SIGMA ADVISERS, LP | $17,840,450 | 1,752,500 | 0.94% | Shares |
| Trexquant Investment LP | $16,452,984 | 896,132 | 0.86% | Shares |
| JANE STREET GROUP, LLC | $16,369,207 | 891,569 | 0.86% | Shares |
| D. E. Shaw & Co., Inc. | $16,305,902 | 888,121 | 0.86% | Shares |
| GOLDMAN SACHS GROUP INC | $16,167,412 | 880,578 | 0.85% | Shares |
| OBERWEIS ASSET MANAGEMENT INC/ | $15,648,632 | 852,322 | 0.82% | Shares |
| WOLVERINE ASSET MANAGEMENT LLC | $15,582,132 | 848,700 | 0.82% | Put option |
| BANK OF AMERICA CORP /DE/ | $15,142,189 | 824,738 | 0.79% | Shares |
| BNP PARIBAS FINANCIAL MARKETS | $14,694,353 | 800,346 | 0.77% | Shares |
| JANE STREET GROUP, LLC | $14,019,696 | 763,600 | 0.74% | Put option |
| PEAK6 LLC | $13,806,720 | 752,000 | 0.72% | Call option |
| JANE STREET GROUP, LLC | $11,922,984 | 649,400 | 0.63% | Call option |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $11,793,050 | 642,323 | 0.62% | Shares |
| GMT Capital Corp | $10,993,968 | 598,800 | 0.58% | Shares |
| ALGERT GLOBAL LLC | $10,852,761 | 591,109 | 0.57% | Shares |
| MORGAN STANLEY | $8,780,895 | 478,262 | 0.46% | Shares |
| Squarepoint Ops LLC | $8,432,436 | 459,283 | 0.44% | Shares |
| Counterpoint Mutual Funds LLC | $8,039,734 | 437,894 | 0.42% | Shares |
| Bank of New York Mellon Corp | $7,583,084 | 413,022 | 0.40% | Shares |
| Pier Capital, LLC | $7,245,847 | 394,654 | 0.38% | Shares |
| Walleye Trading LLC | $6,506,784 | 354,400 | 0.34% | Call option |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. | $6,501,753 | 354,126 | 0.34% | Shares |
| BARCLAYS PLC | $6,422,475 | 349,808 | 0.34% | Shares |
| IMC-Chicago, LLC | $6,264,616 | 341,210 | 0.33% | Shares |
| RENAISSANCE TECHNOLOGIES LLC | $5,952,312 | 324,200 | 0.31% | Shares |
| Walleye Trading LLC | $5,888,052 | 320,700 | 0.31% | Put option |
| ALLIANCEBERNSTEIN L.P. | $5,761,087 | 198,248 | 0.30% | Shares |
| Swiss National Bank | $5,034,312 | 274,200 | 0.26% | Shares |
| RAYMOND JAMES FINANCIAL INC | $5,023,241 | 273,597 | 0.26% | Shares |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM | $4,778,801 | 164,446 | 0.25% | Shares |
| Relyea Zuckerberg Hanson LLC | $4,724,726 | 257,338 | 0.25% | Shares |
| BlackRock, Inc. | $4,715,546 | 256,838 | 0.25% | Shares |
| DEUTSCHE BANK AG\ | $4,031,177 | 219,563 | 0.21% | Shares |
| WELLINGTON MANAGEMENT GROUP LLP | $3,875,025 | 211,058 | 0.20% | Shares |
| Y-Intercept (Hong Kong) Ltd | $3,600,947 | 196,130 | 0.19% | Shares |
| RHUMBLINE ADVISERS | $3,584,755 | 195,249 | 0.19% | Shares |
| WOLVERINE ASSET MANAGEMENT LLC | $3,584,423 | 195,230 | 0.19% | Shares |
| Universal- Beteiligungs- und Servicegesellschaft mbH | $3,536,595 | 192,625 | 0.19% | Shares |
| Cubist Systematic Strategies, LLC | $3,520,896 | 411,801 | 0.18% | Shares |
| Russell Investments Group, Ltd. | $3,517,078 | 191,562 | 0.18% | Shares |
| VICTORY CAPITAL MANAGEMENT INC | $3,040,618 | 165,611 | 0.16% | Shares |
| CITIGROUP INC | $3,024,535 | 164,735 | 0.16% | Shares |
| TUDOR INVESTMENT CORP ET AL | $3,017,172 | 164,334 | 0.16% | Shares |
| CAPITAL FUND MANAGEMENT S.A. | $2,759,508 | 150,300 | 0.14% | Call option |
| BARCLAYS PLC | $2,754,000 | 150,000 | 0.14% | Put option |
| HUSSMAN STRATEGIC ADVISORS, INC. | $2,698,920 | 147,000 | 0.14% | Shares |
| JUPITER ASSET MANAGEMENT LTD | $2,472,706 | 134,679 | 0.13% | Shares |
| Point72 Asset Management, L.P. | $2,451,060 | 133,500 | 0.13% | Call option |
| Pictet Asset Management Holding SA | $2,433,636 | 132,551 | 0.13% | Shares |
| Sunbelt Securities, Inc. | $2,265,053 | 77,944 | 0.12% | Shares |
| Caption Management, LLC | $2,247,264 | 122,400 | 0.12% | Call option |
| TUDOR INVESTMENT CORP ET AL | $2,245,428 | 122,300 | 0.12% | Call option |
| GROUP ONE TRADING LLC | $2,090,598 | 113,867 | 0.11% | Shares |
| TUDOR INVESTMENT CORP ET AL | $2,012,256 | 109,600 | 0.11% | Put option |
| CITADEL ADVISORS LLC | $1,997,201 | 108,780 | 0.10% | Shares |
| CAPITAL FUND MANAGEMENT S.A. | $1,971,864 | 107,400 | 0.10% | Put option |
| Knights of Columbus Asset Advisors LLC | $1,967,715 | 107,174 | 0.10% | Shares |
| JANUS HENDERSON GROUP PLC | $1,948,138 | 67,050 | 0.10% | Shares |
| G2 Investment Partners Management LLC | $1,927,800 | 105,000 | 0.10% | Shares |
| VANGUARD ASSET MANAGEMENT, Ltd | $1,846,484 | 100,571 | 0.10% | Shares |
| Zurcher Kantonalbank (Zurich Cantonalbank) | $1,716,990 | 93,518 | 0.09% | Shares |
| WESBANCO BANK INC | $1,652,400 | 90,000 | 0.09% | Shares |
| MetLife Investment Management, LLC | $1,639,677 | 89,307 | 0.09% | Shares |
| Nuveen, LLC | $1,631,965 | 88,887 | 0.09% | Shares |
| LOS ANGELES CAPITAL MANAGEMENT LLC | $1,581,915 | 86,161 | 0.08% | Shares |
| 180 WEALTH ADVISORS, LLC | $1,555,422 | 84,718 | 0.08% | Shares |
| MATAURO, LLC | $1,494,302 | 81,389 | 0.08% | Shares |
| CITIGROUP INC | $1,457,784 | 79,400 | 0.08% | Call option |
| Range Financial Group LLC | $1,412,490 | 76,933 | 0.07% | Shares |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE | $1,408,726 | 76,728 | 0.07% | Shares |
| FirstWave Capital Management LLC | $1,344,448 | 73,227 | 0.07% | Shares |
| LPL Financial LLC | $1,272,954 | 69,333 | 0.07% | Shares |
| Vanguard Global Advisers, LLC | $1,245,744 | 67,851 | 0.07% | Shares |
| Entropy Technologies, LP | $1,242,146 | 67,655 | 0.07% | Shares |
| Schonfeld Strategic Advisors LLC | $1,229,110 | 66,945 | 0.06% | Shares |
| State of New Jersey Common Pension Fund D | $1,200,615 | 65,393 | 0.06% | Shares |
| Invesco Ltd. | $1,119,703 | 60,986 | 0.06% | Shares |
| Vontobel Holding Ltd. | $1,111,716 | 60,551 | 0.06% | Shares |
| WOLVERINE TRADING, LLC | $1,092,420 | 126,000 | 0.06% | Call option |
Company insiders 19 insiders · 7 officers · 9 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Joshua Bixby | CEO | July 12, 2021 J | 473,598 | 0 | 0 | $0 |
| Adriel G Lares | Chief Financial Officer | Feb. 14, 2021 A | 193,254 | 0 | 0 | $0 |
| Scott R. Lovett | President, Go to Market | June 17, 2026 S | 1,392,778 | 0 | 3 | $-1,707,862 |
| Artur Bergman | Chief Technology Officer | June 3, 2026 S | 2,038,638 | 0 | 3 | $-142,310 |
| Brett Shirk | EVP, Chief Revenue Officer | Dec. 17, 2021 S | 152,696 | 0 | 0 | $0 |
| Paul Luongo | General Counsel | July 12, 2021 J | 541,391 | 0 | 0 | $0 |
| Wolfgang Maasberg | EVP of Sales | May 8, 2020 C | 210,040 | 0 | 0 | $0 |
| Vanessa C. Smith | Director | June 3, 2026 A | 98,267 | 0 | 0 | $0 |
| David Hornik | Director | June 3, 2026 A | 269,431 | 0 | 0 | $0 |
| Charles J Meyers | Director | June 3, 2026 A | 97,775 | 0 | 0 | $0 |
| Aida Alvarez | Director | June 3, 2026 A | 105,667 | 0 | 0 | $0 |
| Christopher B Paisley | Director | June 3, 2026 A | 14,828 | 0 | 1 | $-16,960 |
| Kelly Wright | Director | July 12, 2021 C | 192,812 | 0 | 0 | $0 |
| Sunil Dhaliwal | Director | Sept. 4, 2020 S | 316,572 | 0 | 0 | $0 |
| Eric W Carlborg | 10% owner | March 4, 2020 S | 115,245 | 0 | 0 | $0 |
| Paula Loop | — | Aug. 12, 2026 S | 90,443 | 0 | 1 | $-219,960 |
| Richard Devon Daniels | — | Aug. 7, 2026 S | 51,197 | 0 | 1 | $-253,732 |
| Charles Lacey Compton III | — | Aug. 4, 2026 S | 1,030,592 | 0 | 7 | $-1,080,227 |
| Ronald W Kisling | — | Nov. 25, 2024 S | 539,542 | 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 |
|---|---|---|---|---|---|
| Abdiel Qualified Master Fund, LP, Abdiel Capital, LP, Abdiel Capital Management, LLC, Abdiel Capital Advisors, LP, Colin T. Moran ×4 filings | Aug. 23, 2019 | — | Initial filing | — | SEC |
Purpose is an automated classification of the filer's own stated purpose (SEC Item 4) — not investment advice. "—" means no clear purpose was stated or the text could not be classified.
ETF ownership Held by 56 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 |
|---|---|---|---|---|
| IDGT · iShares Trust | 5.78% | 1,302,980 SH | Aug. 8, 2026 | Daily |
| PSWD · DBX ETF Trust | 2.01% | 10,051 NS | May 29, 2026 | N-PORT |
| CLOU · Global X Funds | 1.98% | 299,853 NS | May 31, 2026 | N-PORT |
| SKYU · ProShares Trust | 0.74% | 1,506 NS | May 31, 2026 | N-PORT |
| OASC · Unified Series Trust | 0.51% | 24,128 NS | May 31, 2026 | N-PORT |
| FYC · First Trust Exchange-Traded AlphaDE… | 0.48% | 200,602 NS | April 30, 2026 | N-PORT |
| FYX · First Trust Exchange-Traded AlphaDE… | 0.25% | 119,452 NS | April 30, 2026 | N-PORT |
| IWO · iShares Trust | 0.21% | 1,391,376 SH | Aug. 8, 2026 | Daily |
| BBSC · J.P. Morgan Exchange-Traded Fund Tr… | 0.18% | 51,442 NS | April 30, 2026 | N-PORT |
| VTWG · VANGUARD SCOTTSDALE FUNDS | 0.17% | 164,271 SH | Aug. 8, 2026 | Daily |
| PRFZ · Invesco Exchange-Traded Fund Trust | 0.16% | 198,621 SH | Aug. 8, 2026 | Daily |
| VFMO · VANGUARD WELLINGTON FUND | 0.15% | 168,563 SH | Aug. 8, 2026 | Daily |
| AFSM · First Trust Exchange-Traded Fund VI… | 0.14% | 7,610 NS | May 31, 2026 | N-PORT |
| ITAN · EA Series Trust | 0.13% | 6,378 NS | May 29, 2026 | N-PORT |
| IWM · iShares Trust | 0.11% | 3,904,855 SH | Aug. 8, 2026 | Daily |
| RSSL · Global X Funds | 0.11% | 61,235 NS | April 30, 2026 | N-PORT |
| ISCG · iShares Trust | 0.10% | 45,524 SH | Aug. 8, 2026 | Daily |
| PNQI · Invesco Exchange-Traded Fund Trust | 0.10% | 23,432 SH | Aug. 8, 2026 | Daily |
| FAD · First Trust Exchange-Traded AlphaDE… | 0.10% | 18,735 NS | April 30, 2026 | N-PORT |
| VTWO · VANGUARD SCOTTSDALE FUNDS | 0.09% | 881,975 SH | Aug. 8, 2026 | Daily |
| SMLF · iShares Trust | 0.09% | 167,071 SH | Aug. 8, 2026 | Daily |
| SMMV · iShares Trust | 0.09% | 11,373 SH | Aug. 8, 2026 | Daily |
| DFAS · Dimensional ETF Trust | 0.09% | 482,158 NS | April 30, 2026 | N-PORT |
| VBK · VANGUARD INDEX FUNDS | 0.07% | 1,866,335 SH | Aug. 8, 2026 | Daily |
| ESML · iShares Trust | 0.06% | 82,777 SH | Aug. 8, 2026 | Daily |
| ITWO · ProShares Trust | 0.06% | 6,659 NS | May 31, 2026 | N-PORT |
| FTEC · FIDELITY COVINGTON TRUST | 0.06% | 427,148 NS | April 30, 2026 | N-PORT |
| FBCG · FIDELITY COVINGTON TRUST | 0.06% | 147,160 NS | April 30, 2026 | N-PORT |
| SCHA · SCHWAB STRATEGIC TRUST | 0.05% | 671,697 NS | May 31, 2026 | N-PORT |
| NFRA · FlexShares Trust | 0.05% | 63,104 NS | April 30, 2026 | N-PORT |
| ISCB · iShares Trust | 0.05% | 6,392 SH | Aug. 8, 2026 | Daily |
| DXUV · Dimensional ETF Trust | 0.04% | 6,660 NS | April 30, 2026 | N-PORT |
| VGT · VANGUARD WORLD FUND | 0.04% | 3,452,940 SH | Aug. 8, 2026 | Daily |
| UWM · ProShares Trust | 0.04% | 5,208 NS | May 31, 2026 | N-PORT |
| TILT · FlexShares Trust | 0.04% | 28,644 NS | April 30, 2026 | N-PORT |
| WSML · iShares Trust | 0.03% | 9,085 SH | Aug. 8, 2026 | Daily |
| VXF · VANGUARD INDEX FUNDS | 0.03% | 1,687,108 SH | Aug. 8, 2026 | Daily |
| VB · VANGUARD INDEX FUNDS | 0.03% | 3,231,972 SH | Aug. 8, 2026 | Daily |
| URTY · ProShares Trust | 0.03% | 5,267 NS | May 31, 2026 | N-PORT |
| TECB · iShares Trust | 0.03% | 5,545 SH | Aug. 8, 2026 | Daily |
| DFAC · Dimensional ETF Trust | 0.02% | 355,748 NS | April 30, 2026 | N-PORT |
| GSSC · Goldman Sachs ETF Trust | 0.02% | 9,882 NS | May 31, 2026 | N-PORT |
| IGM · iShares Trust | 0.01% | 67,997 SH | Aug. 8, 2026 | Daily |
| MSSM · MORGAN STANLEY PATHWAY FUNDS | 0.01% | 5,270 NS | May 31, 2026 | N-PORT |
| HDG · ProShares Trust | 0.01% | 132 NS | May 31, 2026 | N-PORT |
| DCOR · Dimensional ETF Trust | 0.01% | 11,640 NS | April 30, 2026 | N-PORT |
| DFAU · Dimensional ETF Trust | 0.01% | 34,258 NS | April 30, 2026 | N-PORT |
| OMFS · Invesco Exchange-Traded Self-Indexe… | 0.01% | 873 SH | Aug. 8, 2026 | Daily |
| ONEQ · Fidelity Commonwealth Trust | 0.01% | 41,245 NS | May 31, 2026 | N-PORT |
| DFUS · Dimensional ETF Trust | 0.01% | 46,967 NS | April 30, 2026 | N-PORT |