GRND Grindr Inc. Common Stock
$15.80
Price · Aug 19, 2026
Fundamentals as of Aug 7, 2026
52W Range
$10–$18
69% of range
Analyst Rating
BUY
11 analysts
Price Target
$21
+32% upside
P/E (TTM)
35.2
ROE
80.7%
Net Profit Margin
21.5%
GRND Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$15.80
Market Cap
$2.80B
P/E (TTM)
35.2
EPS (TTM)
$0.43
Revenue (TTM)
$440M
Div Yield
—
ROE
80.7%
Debt/Equity
8.4
52W Range
$10 – $19
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10-Year Performance Revenue, net income, margins and EPS trends
Revenue & Net Income
$440M
2021-12-31
→
2025-12-31
EPS
$0.43
2021-12-31
→
2025-12-31
Free Cash Flow
$141M
2022-12-31
→
2025-12-31
Margins
21.5%
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Metric
5Y trend
GRND
Peer Median
P/E (TTM)
35.2
32.3
P/S (TTM)
6.4
3.4
P/B
59.6
6.1
EV / EBITDA
23.0
—
Price / FCF
19.9
—
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Metric
5Y trend
GRND
Peer Median
Operating Margin
28.7%
—
Net Profit Margin
21.5%
5.5%
ROA
18.8%
3.8%
ROE
80.7%
5.2%
ROIC
22.8%
—
Financial Health Debt, liquidity, solvency — balance sheet strength
Metric
5Y trend
GRND
Peer Median
Debt / Equity
8.4
—
Current Ratio
2.0
1.8
Quick Ratio
1.8
—
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Metric
5Y trend
GRND
Peer Median
Revenue YoY
27.6%
—
Revenue CAGR 3Y
31.1%
—
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
Metric
5Y trend
GRND
Peer Median
GRND Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
BUY
11 analysts
- Strong Buy 2 18.2%
- Buy 8 72.7%
- Hold 1 9.1%
- Sell 0 0.0%
- Strong Sell 0 0.0%
12-Month Price Target
5 analysts · 2026-08-13
Median
$21.00
← Below all targets
$15.80
Low
$19.00
High
$22.00
Median target
$21.00
+32.9%
Mean target
$20.80
+31.6%
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
-0.00%
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| June 30, 2026 | $0.10 | $0.13 | -0.03% |
| March 31, 2026 | $0.14 | $0.13 | 0.01% |
| Dec. 31, 2025 | $0.10 | $0.12 | -0.03% |
| Sept. 30, 2025 | $0.16 | $0.12 | 0.04% |
| June 30, 2025 | $0.08 | $0.10 | -0.02% |
| March 31, 2025 | $0.09 | $0.09 | 0.01% |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| GRND | $2.51B | 31.5 | 27.6% | 21.5% | 80.7% | — |
| MTCH | $7.51B | 13.6 | 0.22% | 17.6% | -386.8% | — |
| RUM | — | — | — | — | — | — |
| CARG | — | 24.7 | 13.7% | 17.2% | 38.5% | 92.8% |
| PPLI | — | — | — | — | — | — |
| DJT | — | -4.7 | — | — | — | — |
| ZD | $1.35B | 30.6 | 3.5% | 3.3% | 2.6% | — |
| YELP | $1.82B | 13.6 | 3.8% | 9.9% | 20.0% | — |
| WBTN | $1.70B | -4.9 | 2.5% | -25.0% | -26.2% | — |
| TRIP | $1.67B | 47.0 | 3.0% | 2.1% | 6.3% | — |
| QNST | $920M | 201.2 | 78.3% | 0.43% | 2.0% | 10.1% |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement 15
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| Revenue | $440M | $345M | $260M | $195M | $146M | |
| R&D Expense | $49M | $33M | $29M | $18M | $11M | |
| SG&A Expense | $143M | $115M | $80M | $75M | $31M | |
| Operating Expenses | $314M | $252M | $204M | $182M | $122M | |
| Operating Income | $126M | $93M | $55M | $13M | $24M | |
| Interest Income | · | · | · | · | $85.1K | |
| Other Non-op | $63.0K | $-715.0K | $85.0K | $-3M | $1M | |
| Pretax Income | $119M | $-118M | $-52M | $-7.0K | $6M | |
| Income Tax | $24M | $13M | $4M | $-859.0K | $1M | |
| Net Income | $95M | $-131M | $-56M | $852.0K | $5M | |
| EPS (Basic) | $0.45 | $-0.74 | $-0.32 | $0.01 | $0.03 | |
| EPS (Diluted) | $0.43 | $-0.74 | $-0.32 | $0.01 | $0.03 | |
| Shares (Basic) | 190,056,612 | 175,880,320 | 174,170,517 | 157,882,535 | 152,811,130 | |
| Shares (Diluted) | 195,178,837 | 175,880,320 | 174,170,517 | 159,166,872 | 152,867,466 | |
| EBITDA | $135M | · | · | $51M | $-2M |
Balance Sheet 28
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $87M | $59M | $28M | $9M | $16M | |
| Receivables | $68M | $50M | $34M | $22M | $18M | |
| Prepaid Expense | $5M | $3M | $4M | $8M | $2M | |
| Other Current Assets | $1M | $2M | $2M | $750.0K | $3M | |
| Current Assets | $166M | $117M | $72M | $43M | $44M | |
| PP&E (Net) | $1M | $2M | $2M | $2M | $2M | |
| PP&E (Gross) | $5M | $5M | $3M | $4M | $4M | |
| Accum. Depreciation | $4M | $3M | $2M | $2M | $1M | |
| Goodwill | $276M | $276M | $276M | $276M | $259M | |
| Intangibles | $66M | $70M | $82M | $105M | $140M | |
| Other Non-current Assets | $2M | $1M | $1M | $64.0K | $84.0K | |
| Total Assets | $531M | $479M | $445M | $439M | $450M | |
| Accounts Payable | $2M | $3M | $4M | $5M | $2M | |
| Accrued Liabilities | · | · | · | · | $559.2K | |
| Current Liabilities | $85M | $68M | $61M | $62M | $30M | |
| Capital Leases | $3M | $963.0K | $2M | $4M | $0 | |
| Deferred Tax | $1M | $0 | $5M | $13M | $21M | |
| Other Non-current Liabilities | $19M | $14M | $2M | $327.0K | $2M | |
| Total Liabilities | $484M | $611M | $463M | $435M | $186M | |
| Long-term Debt | $396M | $291M | $341M | $361M | $137M | |
| Total Debt | $396M | · | · | $361M | · | |
| Common Stock | $18.0K | $18.0K | $18.0K | $17.0K | $16.0K | |
| Paid-in Capital | $144M | $75M | $45M | $9M | $269M | |
| Retained Earnings | $-97M | $-192M | $-61M | $-5M | $-6M | |
| Treasury Stock | $0 | $14M | $2M | $0 | · | |
| Stockholders' Equity | $47M | $-132M | $-18M | $4M | $263M | |
| Liabilities + Equity | $531M | $479M | $445M | $439M | $450M | |
| Shares Outstanding | 185,034,502 | 178,567,403 | 175,377,711 | 173,524,360 | 155,541,074 |
Cash Flow 15
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| D&A | $9M | $17M | $27M | $38M | $43M | |
| Stock-based Comp | $55M | $37M | $16M | $28M | $3M | |
| Deferred Tax | $3M | $-6M | $-8M | $-11M | $-4M | |
| Amort. of Intangibles | $4M | $12M | $22M | $35M | $42M | |
| Other Non-cash | $-19M | · | · | $-5M | · | |
| Operating Cash Flow | $142M | $95M | $36M | $51M | $34M | |
| CapEx | $746.0K | $945.0K | $509.0K | $430.0K | $269.0K | |
| Investing Cash Flow | $-9M | $-5M | $-4M | $-6M | $-4M | |
| Stock Issued | · | · | $0 | $5M | $0 | |
| Stock Repurchased | $451M | $0 | $0 | · | · | |
| Net Stock Activity | $-451M | · | · | $5M | · | |
| Financing Cash Flow | $-105M | $-59M | $-13M | $-52M | $-56M | |
| Net Change in Cash | $28M | $31M | $19M | $-7M | $-26M | |
| Taxes Paid | $21M | $17M | $18M | · | · | |
| Free Cash Flow | $141M | · | · | $50M | · |
Profitability 7
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| Operating Margin | 28.7% | · | · | 6.7% | · | |
| Net Margin | 21.5% | · | · | 0.44% | · | |
| Pretax Margin | 27.0% | · | · | 0.00% | · | |
| EBITDA Margin | 30.7% | · | · | 25.9% | · | |
| ROA | 18.8% | · | · | 0.19% | 8.2% | |
| ROE | 80.7% | · | · | 0.83% | -65.9% | |
| ROIC | 22.8% | · | · | -435.1% | · |
Liquidity & Solvency 4
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| Current Ratio | 2.0 | · | · | 0.7 | 0.3 | |
| Quick Ratio | 1.8 | · | · | 0.5 | 0.0 | |
| Debt / Equity | 8.4 | · | · | 89.0 | · | |
| LT Debt / Equity | 8.0 | · | · | 83.5 | · |
Efficiency 2
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| Asset Turnover | 0.9 | · | · | 0.4 | · | |
| Receivables Turnover | 7.5 | · | · | 9.7 | · |
Growth Rates 6
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| Revenue YoY | 27.6% | 32.7% | 33.2% | 33.7% | · | |
| Revenue CAGR 3Y | 31.1% | 33.2% | · | · | · | |
| EPS YoY | · | · | · | -66.7% | · | |
| EPS CAGR 3Y | 250.3% | · | · | · | · | |
| Net Income YoY | · | · | · | -83.2% | · | |
| Net Income CAGR 3Y | 380.9% | · | · | · | · |
Valuation (TTM) 13
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| Revenue TTM | $440M | $345M | $260M | $195M | $146M | |
| Net Income TTM | $95M | $-131M | $-56M | $852.0K | $5M | |
| Market Cap | $2.51B | · | · | $807M | · | |
| Enterprise Value | $2.81B | · | · | $1.16B | · | |
| P/E | 31.5 | -24.1 | -27.4 | 465.0 | 337.8 | |
| P/S | 5.7 | · | · | 4.1 | · | |
| P/B | 53.3 | · | · | 199.1 | · | |
| P / Cash Flow | 17.7 | · | · | 15.9 | · | |
| P / FCF | 17.8 | · | · | 16.1 | · | |
| EV / EBITDA | 20.8 | · | · | 22.9 | · | |
| EV / FCF | 20.0 | · | · | 23.1 | · | |
| EV / Revenue | 6.4 | · | · | 5.9 | · | |
| Earnings Yield | 3.2% | -4.2% | -3.6% | 0.22% | 0.30% |
Income Statement 15
| 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 | $138M | $130M | $126M | $116M | $104M | $94M | $98M | $89M | $82M | $75M | $72M | $70M | $62M | $56M | $55M | $50M | |
| R&D Expense | $20M | $16M | $15M | $11M | $13M | $10M | $11M | $9M | $8M | $6M | $4M | $13M | $6M | $6M | $6M | $4M | |
| SG&A Expense | $50M | $38M | $47M | $29M | $36M | $30M | $38M | $25M | $25M | $27M | $28M | $16M | $17M | $19M | $21M | $20M | |
| Operating Expenses | $106M | $87M | $95M | $71M | $80M | $69M | $77M | $61M | $58M | $56M | $56M | $54M | $48M | $47M | $52M | $47M | |
| Operating Income | $33M | $43M | $31M | $45M | $24M | $25M | $20M | $28M | $25M | $19M | $16M | $17M | $14M | $9M | $2M | $4M | |
| Interest Income | · | · | · | · | · | · | · | · | · | · | · | · | · | · | · | $1M | |
| Other Non-op | $-2M | $-202.0K | $59.0K | $-654.0K | $510.0K | $148.0K | $-439.0K | $68.0K | $-227.0K | $-117.0K | $183.0K | $-390.0K | $169.0K | $123.0K | $-2M | $-263.0K | |
| Pretax Income | $23M | $36M | $26M | $40M | $21M | $32M | $-124M | $30M | $-17M | $-7M | $-43M | $835.0K | $8M | $-17M | $724.0K | $-1M | |
| Income Tax | $5M | $9M | $6M | $9M | $5M | $5M | $-527.0K | $6M | $5M | $3M | $1M | $1M | $-14M | $16M | $-5M | $3M | |
| Net Income | $18M | $27M | $20M | $31M | $17M | $27M | $-124M | $25M | $-22M | $-9M | $-45M | $-437.0K | $22M | $-33M | $5M | $-5M | |
| EPS (Basic) | $0.10 | $0.15 | $0.07 | $0.16 | $0.08 | $0.14 | $-0.70 | $0.14 | $-0.13 | $-0.05 | $-0.26 | $0.00 | $0.13 | $-0.19 | $0.04 | $-0.03 | |
| EPS (Diluted) | $0.10 | $0.14 | $0.10 | $0.16 | $0.08 | $0.09 | $-0.65 | $0.09 | $-0.13 | $-0.05 | $-0.26 | $0.00 | $0.13 | $-0.19 | $0.04 | $-0.03 | |
| Shares (Basic) | 176,756,006 | 183,323,375 | -385,398,614 | 189,714,398 | 195,973,149 | 189,767,679 | -351,347,515 | 176,034,571 | 175,676,957 | 175,516,307 | -347,439,503 | 174,113,605 | 173,896,490 | 173,599,925 | -309,229,252 | 155,863,725 | |
| Shares (Diluted) | 178,957,573 | 185,090,919 | -398,264,524 | 192,558,285 | 199,836,986 | 201,048,090 | -355,274,772 | 179,961,828 | 175,676,957 | 175,516,307 | -347,923,425 | 174,113,605 | 174,380,412 | 173,599,925 | -308,635,403 | 155,863,725 | |
| EBITDA | $33M | $44M | · | $47M | $27M | $29M | · | $33M | $29M | $23M | · | $22M | $22M | $17M | · | $-5M |
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 | $7M | $24M | $87M | $6M | $121M | $256M | $59M | $39M | $16M | $22M | $28M | $30M | $22M | $34M | $9M | $100.2K | |
| Receivables | $70M | $70M | $68M | $59M | $57M | $53M | $50M | $44M | $40M | $36M | · | $32M | $31M | $29M | $22M | · | |
| Prepaid Expense | $9M | $5M | $5M | $6M | $6M | $6M | $3M | $5M | $5M | $7M | · | $6M | $6M | $8M | $8M | $47.0K | |
| Other Current Assets | $3M | $779.0K | $1M | $1M | $778.0K | $458.0K | $2M | $605.0K | $2M | $765.0K | · | $212.0K | $408.0K | $544.0K | $750.0K | · | |
| Current Assets | $93M | $105M | $166M | $77M | $189M | $320M | $117M | $93M | $68M | $68M | · | $72M | $63M | $74M | $43M | $147.2K | |
| PP&E (Net) | $785.0K | $952.0K | $1M | $1M | $2M | $2M | $2M | $2M | $2M | $2M | · | $2M | $2M | $2M | $2M | · | |
| PP&E (Gross) | · | · | $5M | · | · | · | $5M | · | · | · | · | · | · | · | $4M | · | |
| Accum. Depreciation | · | · | $4M | · | · | · | $3M | · | · | · | · | · | · | · | $2M | · | |
| Goodwill | $276M | $276M | $276M | $276M | $276M | $276M | $276M | $276M | $276M | $276M | · | $276M | $276M | $276M | $276M | · | |
| Intangibles | $66M | $66M | $66M | $66M | $66M | $68M | $70M | $73M | $76M | $79M | · | $87M | $91M | $97M | $105M | · | |
| Other Non-current Assets | $3M | $4M | $4M | $1M | $1M | $1M | $1M | $1M | $1M | $1M | · | $239.0K | $140.0K | $93.0K | $64.0K | · | |
| Total Assets | $463M | $471M | $531M | $439M | $548M | $679M | $479M | $456M | $435M | $438M | · | $449M | $445M | $463M | $439M | $289M | |
| Accounts Payable | $3M | $4M | $2M | $4M | $2M | $2M | $3M | $2M | $3M | $3M | · | $1M | $3M | $6M | $5M | · | |
| Accrued Liabilities | · | · | · | · | · | · | · | · | · | · | · | · | · | · | · | $8M | |
| Current Liabilities | $84M | $79M | $85M | $94M | $76M | $76M | $68M | $63M | $60M | $63M | · | $67M | $66M | $85M | $62M | $10M | |
| Capital Leases | $2M | $2M | $3M | $672.0K | $986.0K | $744.0K | $963.0K | $1M | $2M | $2M | · | $3M | $3M | $3M | $4M | · | |
| Deferred Tax | $1M | $1M | $1M | · | · | · | $0 | $3M | $4M | $5M | · | $5M | $8M | $10M | $13M | · | |
| Other Non-current Liabilities | $20M | $16M | $19M | $9M | $14M | $11M | $14M | $10M | $7M | $4M | · | $1M | $787.0K | $596.0K | $327.0K | · | |
| Total Liabilities | $475M | $470M | $484M | $368M | $360M | $360M | $611M | $470M | $477M | $460M | · | $425M | $424M | $469M | $435M | $50M | |
| Long-term Debt | $386M | $391M | $396M | $280M | $283M | $287M | $291M | $294M | $298M | $315M | · | $343M | $343M | $360M | $361M | · | |
| Total Debt | $386M | $391M | · | $280M | $283M | $287M | · | $294M | $298M | $315M | · | $343M | $343M | $360M | · | · | |
| Common Stock | $17.0K | $18.0K | $18.0K | $18.0K | $19.0K | $20.0K | $18.0K | $18.0K | $18.0K | $18.0K | · | $17.0K | $17.0K | $17.0K | $17.0K | · | |
| Paid-in Capital | $41M | $71M | $144M | $188M | $366M | $504M | $75M | $62M | $57M | $52M | · | $40M | $36M | $32M | $9M | $0 | |
| Retained Earnings | $-53M | $-70M | $-97M | $-117M | $-148M | $-165M | $-192M | $-68M | $-93M | $-70M | · | $-16M | $-16M | $-38M | $-5M | $-49M | |
| Treasury Stock | · | · | $0 | $0 | $30M | $20M | $14M | $8M | $6M | $4M | · | · | · | · | $0 | · | |
| Stockholders' Equity | $-12M | $839.0K | $47M | $71M | $188M | $320M | $-132M | $-13M | $-42M | $-22M | $-18M | $24M | $21M | $-6M | $4M | $-49M | |
| Liabilities + Equity | $463M | $471M | $531M | $439M | $548M | $679M | $479M | $456M | $435M | $438M | · | $449M | $445M | $463M | $439M | $289M | |
| Shares Outstanding | 173,825,392 | 177,198,511 | 185,034,502 | 184,495,291 | 193,322,724 | 200,237,600 | 177,193,667 | 176,188,289 | 175,953,103 | 175,391,283 | 175,377,711 | 174,206,564 | 173,524,360 | 173,524,360 | 173,524,360 | · |
Cash Flow 11
| 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 | $895.0K | $983.0K | $1M | $1M | $3M | $3M | $4M | $4M | $4M | $4M | $5M | $6M | $8M | $8M | $10M | $9M | |
| Stock-based Comp | $21M | $15M | $21M | $6M | $17M | $11M | $15M | $7M | $8M | $8M | $5M | $4M | $4M | $3M | $5M | $10M | |
| Other Non-cash | · | $-9M | · | · | · | $-18M | · | · | · | $18M | · | · | · | $30M | · | · | |
| Operating Cash Flow | $41M | $33M | $25M | $55M | $38M | $24M | $30M | $29M | $16M | $20M | $13M | $8M | $6M | $9M | $14M | $38M | |
| CapEx | $0 | $32.0K | $222.0K | $208.0K | $192.0K | $124.0K | $246.0K | $324.0K | $180.0K | $195.0K | $268.0K | $146.0K | $63.0K | $32.0K | $91.0K | $88.0K | |
| Investing Cash Flow | $-7M | $-2M | $-3M | $-4M | $-880.0K | $-628.0K | $-1M | $-1M | $-2M | $-1M | $-741.0K | $-914.0K | $-1M | $-1M | $-2M | $-1M | |
| Stock Repurchased | $0 | $0 | $0 | $160M | $159M | $132M | $0 | $0 | $0 | $0 | · | · | · | · | · | · | |
| Net Stock Activity | · | $0 | · | · | · | $-132M | · | · | · | · | · | · | · | · | · | · | |
| Financing Cash Flow | $-51M | $-95M | $59M | $-166M | $-172M | $174M | $-8M | $-5M | $-19M | $-26M | $-15M | $438.0K | $-17M | $18M | $-31M | $-26M | |
| Net Change in Cash | $-17M | $-63M | $81M | $-114M | $-135M | $197M | $20M | $23M | $-5M | $-7M | $-2M | $8M | $-12M | $25M | $-19M | $2M | |
| Free Cash Flow | · | $33M | · | · | · | $24M | · | · | · | $20M | · | · | · | $8M | · | · |
Profitability 7
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | 23.5% | 32.9% | · | 39.1% | 23.4% | 27.0% | · | 31.8% | 29.8% | 25.6% | · | 23.6% | 22.6% | 15.4% | · | · | |
| Net Margin | 12.8% | 20.6% | · | 26.6% | 16.0% | 28.8% | · | 27.6% | -27.2% | -12.5% | · | -0.62% | 36.3% | -59.0% | · | · | |
| Pretax Margin | 16.6% | 27.6% | · | 34.5% | 20.4% | 33.6% | · | 33.9% | -21.2% | -8.9% | · | 1.2% | 13.5% | -31.2% | · | · | |
| EBITDA Margin | 24.2% | 33.6% | · | 40.2% | 26.3% | 30.7% | · | 36.5% | 35.0% | 31.0% | · | 31.8% | 35.9% | 29.6% | · | · | |
| ROA | 3.5% | 4.7% | · | 6.9% | 3.4% | 4.8% | · | 5.5% | -5.1% | -2.1% | · | -0.12% | 6.1% | -8.8% | · | -3.2% | |
| ROE | 20.2% | 16.7% | · | 107.1% | 22.8% | 18.1% | · | 459.6% | 214.1% | 68.0% | · | 3.5% | -245.7% | 194.5% | · | 21.9% | |
| ROIC | 6.7% | 8.1% | · | 10.0% | 4.0% | 3.6% | · | 8.2% | 12.3% | 9.2% | · | -2.4% | 10.3% | 4.6% | · | · |
Liquidity & Solvency 4
| 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 | 1.1 | 1.3 | · | 0.8 | 2.5 | 4.2 | · | 1.5 | 1.1 | 1.1 | · | 1.1 | 1.0 | 0.9 | · | 0.0 | |
| Quick Ratio | 0.9 | 1.2 | · | 0.7 | 2.3 | 4.1 | · | 1.3 | 0.9 | 0.9 | · | 0.9 | 0.8 | 0.7 | · | 0.0 | |
| Debt / Equity | -32.9 | 466.1 | · | 3.9 | 1.5 | 0.9 | · | -21.9 | -7.1 | -14.3 | · | 14.2 | 16.5 | -63.8 | · | · | |
| LT Debt / Equity | -31.2 | 442.3 | · | 3.7 | 1.4 | 0.9 | · | -20.8 | -6.8 | -13.6 | · | 13.2 | 15.4 | -59.8 | · | · |
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 | 0.3 | 0.2 | · | 0.3 | 0.2 | 0.2 | · | 0.2 | 0.2 | 0.2 | · | 0.2 | 0.2 | 0.1 | · | · | |
| Receivables Turnover | 2.2 | 2.1 | · | 2.3 | 2.1 | 2.1 | · | 2.3 | 2.3 | 2.3 | · | 4.3 | 4.0 | 3.9 | · | · |
Valuation (TTM) 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $488M | $444M | · | $403M | $370M | $341M | · | $317M | $289M | $263M | · | $238M | $214M | $196M | · | · | |
| Net Income TTM | $92M | $101M | · | $99M | $46M | $20M | · | $-8M | $-10M | $-20M | · | $-16M | $-20M | $-37M | · | $7M | |
| Market Cap | $2.50B | $2.14B | · | $2.77B | $4.39B | $3.58B | · | $2.10B | $2.15B | $1.78B | · | $1.00B | $960M | $1.08B | · | · | |
| Enterprise Value | $2.88B | $2.51B | · | $3.04B | $4.55B | $3.62B | · | $2.36B | $2.44B | $2.07B | · | $1.32B | $1.28B | $1.41B | · | · | |
| P/E | 29.9 | 25.7 | · | 35.8 | 174.6 | · | · | -132.6 | -244.8 | -92.1 | · | -63.9 | -46.1 | -28.3 | · | · | |
| P/S | 5.1 | 4.8 | · | 6.9 | 11.9 | 10.5 | · | 6.6 | 7.4 | 6.8 | · | 4.2 | 4.5 | 5.5 | · | · | |
| P/B | -212.8 | 2553.4 | · | 39.1 | 23.4 | 11.2 | · | -156.8 | -51.6 | -80.7 | · | 41.5 | 46.1 | -191.4 | · | · | |
| P / Cash Flow | · | 64.0 | · | · | · | 150.6 | · | · | · | 86.9 | · | · | · | 127.0 | · | · | |
| P / FCF | · | 64.1 | · | · | · | 151.4 | · | · | · | 87.7 | · | · | · | 127.4 | · | · | |
| EV / EBITDA | 86.2 | 57.4 | · | 65.5 | 166.0 | 125.2 | · | 72.2 | 84.6 | 88.6 | · | 58.9 | 58.0 | 85.0 | · | · | |
| EV / FCF | · | 75.1 | · | · | · | 152.7 | · | · | · | 102.2 | · | · | · | 166.0 | · | · | |
| EV / Revenue | 5.9 | 5.7 | · | 7.6 | 12.3 | 10.6 | · | 7.4 | 8.4 | 7.9 | · | 5.5 | 6.0 | 7.2 | · | · | |
| Earnings Yield | 3.3% | 3.9% | · | 2.8% | 0.57% | 0.00% | · | -0.75% | -0.41% | -1.1% | · | -1.6% | -2.2% | -3.5% | · | · |
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 | $440M | $345M | $260M | $195M | $146M |
| Operating Margin % | 28.7% | — | — | 6.7% | — |
| Net Income | $95M | $-131M | $-56M | $852.0K | $5M |
| Diluted EPS | $0.43 | $-0.74 | $-0.32 | $0.01 | $0.03 |
Balance Sheet
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Debt / Equity | 8.4 | — | — | 89.0 | — |
| Current Ratio | 2.0 | — | — | 0.7 | 0.3 |
| Quick Ratio | 1.8 | — | — | 0.5 | 0.0 |
Cash Flow
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Free Cash Flow | $141M | — | — | $50M | — |
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Institutional owners (13F) 201 filers · $484.0M 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 |
|---|---|---|---|---|
| 41 (+7 vs prior Q) | 21 (-13 vs prior Q) | 53 (-13 vs prior Q) | 59 (+12 vs prior Q) | +5.1M |
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 |
|---|---|---|---|---|
| CITADEL ADVISORS LLC | $60,552,780 | 4,213,833 | 12.51% | Shares |
| PERRY CREEK CAPITAL LP | $26,583,408 | 1,849,924 | 5.49% | Shares |
| NORGES BANK | $24,812,219 | 1,726,668 | 5.13% | Shares |
| BWCP, LP | $23,643,924 | 1,645,367 | 4.88% | Shares |
| VANGUARD GROUP INC | $23,620,692 | 1,744,512 | 4.88% | Shares |
| Quinn Opportunity Partners LLC | $21,301,700 | 1,482,373 | 4.40% | Shares |
| Tikvah Management LLC | $21,033,656 | 1,463,720 | 4.35% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $20,368,958 | 1,417,464 | 4.21% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $19,602,304 | 1,364,113 | 4.05% | Shares |
| TWO SIGMA INVESTMENTS, LP | $14,963,208 | 1,041,281 | 3.09% | Shares |
| STATE STREET CORP | $12,880,823 | 896,369 | 2.66% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $10,808,924 | 751,959 | 2.23% | Shares |
| JACOBS LEVY EQUITY MANAGEMENT, INC | $10,711,685 | 745,420 | 2.21% | Shares |
| Philosophy Capital Management LLC | $10,247,247 | 713,100 | 2.12% | Shares |
| BNP PARIBAS ASSET MANAGEMENT Holding S.A. | $9,432,640 | 656,412 | 1.95% | Shares |
| AXA Investment Managers S.A. | $9,142,479 | 608,687 | 1.89% | Shares |
| FMR LLC | $8,578,229 | 596,954 | 1.77% | Shares |
| Alberta Investment Management Corp | $7,903,500 | 550,000 | 1.63% | Shares |
| GOLDMAN SACHS GROUP INC | $7,883,669 | 548,620 | 1.63% | Shares |
| JPMORGAN CHASE & CO | $7,761,341 | 537,489 | 1.60% | Shares |
| BNP PARIBAS FINANCIAL MARKETS | $6,768,299 | 471,002 | 1.40% | Shares |
| TUDOR INVESTMENT CORP ET AL | $6,610,200 | 460,000 | 1.37% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $6,109,449 | 425,153 | 1.26% | Shares |
| Fort Point Capital Partners LLC | $5,841,994 | 406,541 | 1.21% | Shares |
| JANE STREET GROUP, LLC | $5,461,735 | 380,079 | 1.13% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $4,587,594 | 319,248 | 0.95% | Shares |
| HC Advisors, LLC | $4,542,185 | 316,088 | 0.94% | Shares |
| BANK OF AMERICA CORP /DE/ | $4,389,747 | 305,480 | 0.91% | Shares |
| Susquehanna Portfolio Strategies, LLC | $4,045,759 | 281,542 | 0.84% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $3,977,142 | 276,767 | 0.82% | Shares |
| Point72 Asset Management, L.P. | $3,747,983 | 260,820 | 0.77% | Shares |
| Squarepoint Ops LLC | $3,708,135 | 258,047 | 0.77% | Shares |
| RENAISSANCE TECHNOLOGIES LLC | $3,680,157 | 256,100 | 0.76% | Shares |
| Emmett Investment Management, LP | $3,476,904 | 221,600 | 0.72% | Shares |
| Anthracite Investment Company, Inc. | $3,200,360 | 140,985 | 0.66% | Shares |
| AQR CAPITAL MANAGEMENT LLC | $3,177,035 | 221,088 | 0.66% | Shares |
| Rangeley Capital, LLC | $3,161,400 | 220,000 | 0.65% | Shares |
| BARCLAYS PLC | $3,051,225 | 212,333 | 0.63% | Shares |
| BlackRock, Inc. | $2,440,558 | 169,837 | 0.50% | Shares |
| TWO SIGMA ADVISERS, LP | $2,020,818 | 149,248 | 0.42% | Shares |
| WINTON GROUP Ltd | $1,975,487 | 137,473 | 0.41% | Shares |
| CITADEL ADVISORS LLC | $1,840,797 | 128,100 | 0.38% | Call option |
| Quantinno Capital Management LP | $1,740,135 | 121,095 | 0.36% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $1,715,778 | 119,400 | 0.35% | Call option |
| FIRST TRUST ADVISORS LP | $1,682,698 | 117,098 | 0.35% | Shares |
| MILLENNIUM MANAGEMENT LLC | $1,634,128 | 113,718 | 0.34% | Shares |
| CANADA PENSION PLAN INVESTMENT BOARD | $1,630,995 | 113,500 | 0.34% | Shares |
| XTX Topco Ltd | $1,581,634 | 110,065 | 0.33% | Shares |
| Y-Intercept (Hong Kong) Ltd | $1,528,523 | 106,369 | 0.32% | Shares |
| Marble Bar Asset Management LLP | $1,469,591 | 102,268 | 0.30% | Shares |
| BIT Capital GmbH | $1,372,421 | 95,506 | 0.28% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $1,250,521 | 87,023 | 0.26% | Shares |
| MARSHALL WACE, LLP | $1,218,964 | 84,827 | 0.25% | Shares |
| LOS ANGELES CAPITAL MANAGEMENT LLC | $1,165,062 | 81,076 | 0.24% | Shares |
| Swiss National Bank | $987,219 | 68,700 | 0.20% | Shares |
| Vident Advisory, LLC | $910,181 | 63,339 | 0.19% | Shares |
| CAPITAL FUND MANAGEMENT S.A. | $852,916 | 59,354 | 0.18% | Shares |
| ALLIANCEBERNSTEIN L.P. | $822,108 | 67,999 | 0.17% | Shares |
| NORDEA INVESTMENT MANAGEMENT AB | $792,025 | 54,360 | 0.16% | Shares |
| Cubist Systematic Strategies, LLC | $736,180 | 49,013 | 0.15% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $722,811 | 50,300 | 0.15% | Put option |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. | $714,318 | 49,709 | 0.15% | Shares |
| BOOTHBAY FUND MANAGEMENT, LLC | $654,309 | 45,533 | 0.14% | Shares |
| Bank of New York Mellon Corp | $641,319 | 44,629 | 0.13% | Shares |
| RHUMBLINE ADVISERS | $612,598 | 42,631 | 0.13% | Shares |
| Graham Capital Management, L.P. | $542,194 | 37,731 | 0.11% | Shares |
| Bridgefront Capital, LLC | $503,783 | 35,058 | 0.10% | Shares |
| FEDERATED HERMES, INC. | $498,711 | 34,705 | 0.10% | Shares |
| Aquatic Capital Management LLC | $479,268 | 33,352 | 0.10% | Shares |
| PDT Partners, LLC | $460,444 | 32,042 | 0.10% | Shares |
| Walleye Trading LLC | $438,285 | 30,500 | 0.09% | Call option |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM | $436,437 | 36,099 | 0.09% | Shares |
| Campbell & CO Investment Adviser LLC | $425,683 | 29,623 | 0.09% | Shares |
| Gotham Asset Management, LLC | $423,283 | 29,456 | 0.09% | Shares |
| STATE OF WISCONSIN INVESTMENT BOARD | $417,434 | 29,049 | 0.09% | Shares |
| Orion Portfolio Solutions, LLC | $412,094 | 23,022 | 0.09% | Shares |
| CITADEL ADVISORS LLC | $409,545 | 28,500 | 0.08% | Put option |
| Quantedge Capital Pte Ltd | $405,234 | 28,200 | 0.08% | Shares |
| VANGUARD ASSET MANAGEMENT, Ltd | $403,711 | 28,094 | 0.08% | Shares |
| MERCER GLOBAL ADVISORS INC /ADV | $387,688 | 26,979 | 0.08% | Shares |
| DARK FOREST CAPITAL MANAGEMENT LP | $381,638 | 26,558 | 0.08% | Shares |
| AMERICAN CENTURY COMPANIES INC | $373,692 | 26,005 | 0.08% | Shares |
| Groupe la Francaise | $362,700 | 30,000 | 0.07% | Shares |
| Engineers Gate Manager LP | $362,569 | 25,231 | 0.07% | Shares |
| WELLS FARGO & COMPANY/MN | $347,740 | 24,199 | 0.07% | Shares |
| Laird Norton Wetherby Wealth Management, LLC | $345,460 | 23,000 | 0.07% | Shares |
| Neo Ivy Capital Management | $336,013 | 23,383 | 0.07% | Shares |
| FOX RUN MANAGEMENT, L.L.C. | $332,622 | 23,147 | 0.07% | Shares |
| OCCUDO QUANTITATIVE STRATEGIES LP | $331,832 | 23,092 | 0.07% | Shares |
| Bleakley Financial Group, LLC | $305,707 | 21,274 | 0.06% | Shares |
| Quadrature Capital Ltd | $301,741 | 20,998 | 0.06% | Shares |
| MetLife Investment Management, LLC | $292,156 | 20,331 | 0.06% | Shares |
| BBR PARTNERS, LLC | $287,400 | 20,000 | 0.06% | Shares |
| Zurcher Kantonalbank (Zurich Cantonalbank) | $278,088 | 19,352 | 0.06% | Shares |
| Schonfeld Strategic Advisors LLC | $275,443 | 19,168 | 0.06% | Shares |
| SIMPLEX TRADING, LLC | $266,506 | 18,546 | 0.06% | Shares |
| ALLSTATE CORP | $259,953 | 18,090 | 0.05% | Shares |
| Vanguard Global Advisers, LLC | $258,301 | 17,975 | 0.05% | Shares |
| CITIGROUP INC | $244,549 | 17,018 | 0.05% | Shares |
| Walleye Capital LLC | $241,416 | 16,800 | 0.05% | Put option |
Company insiders 21 insiders · 4 officers · 12 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| George Arison | CHIEF EXECUTIVE OFFICER | June 19, 2026 A | 3,620,268 | 0 | 0 | $0 |
| Vandana Mehta-Krantz | Chief Financial Officer | Dec. 12, 2023 F | 764,718 | 0 | 0 | $0 |
| Austin J Balance | Chief Product Officer | Nov. 29, 2023 A | 333,417 | 0 | 0 | $0 |
| Kye Chen | Chief Accounting Officer | May 2, 2023 A | 135,000 | 0 | 0 | $0 |
| Fadi Hanna | Director | June 2, 2026 A | 15,328 | 0 | 0 | $0 |
| Daniel Brooks Baer | Director | June 2, 2026 A | 51,412 | 0 | 0 | $0 |
| George Raymond Zage III | Director | June 2, 2026 A | 8,127,743 | 0 | 0 | $0 |
| Robert Solomon | Director | June 2, 2026 A | 15,327 | 0 | 0 | $0 |
| Chad M Cohen | Director | June 2, 2026 A | 28,596 | 0 | 0 | $0 |
| Lisa Gersh | Director | June 2, 2026 A | 15,327 | 0 | 0 | $0 |
| J MICHAEL GEARON JR | Director | June 2, 2026 A | 26,710 | 0 | 0 | $0 |
| Nathan Richardson | Director | June 1, 2026 S | 6,833 | 0 | 1 | $-18,885 |
| Gary I. Horowitz | Director | Sept. 29, 2023 A | 20,919 | 0 | 0 | $0 |
| Meghan Stabler | Director | Sept. 29, 2023 A | 20,919 | 0 | 0 | $0 |
| Maggie Lower | Director | June 21, 2023 A | 18,266 | 0 | 0 | $0 |
| James Fu Bin Lu | 10% owner | Feb. 6, 2026 S | 18,432,101 | 0 | 24 | $-66,796,128 |
| Zachary Katz | — | Aug. 3, 2026 S | 690,172 | 0 | 5 | $-925,512 |
| Gupta Ashish | — | Nov. 18, 2022 C | 7,474,168 | 0 | 0 | $0 |
| Carman Wong | — | Nov. 18, 2022 C | 20,000 | 0 | 0 | $0 |
| Ben Falloon | — | Nov. 18, 2022 C | 20,000 | 0 | 0 | $0 |
| David Christopher Ryan | — | Nov. 18, 2022 C | 20,000 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
Activists & 5%+ owners 12 positions
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 |
|---|---|---|---|---|---|
| Tiga Investments Eighty-Eight Pte Ltd, Tiga Investments Pte. Ltd., Big Timber Holdings, LLC, Zage George Raymond III ×8 filings | Aug. 11, 2026 | 54.90% | Amendment | — | SEC |
| Brest Jeremy ×2 filings | March 25, 2026 | 6.30% | Amendment | — | SEC |
| James Fu Bin Lu, Longview Capital Group Limited, Longview Grindr Holdings Limited ×5 filings | Nov. 26, 2025 | 12.10% | Amendment | — | SEC |
| Gupta Ashish ×2 filings | April 16, 2025 | 4.40% | Amendment | Passive investment | SEC |
| Longview Capital Group Limited, Longview Capital SVH LLC, Longview Grindr Holdings Limited, James Fu Bin Lu | April 15, 2025 | 14.30% | Amendment | — | SEC |
| Longview Capital SVH LLC, Longview Capital Group Limited, Longview Grindr Holdings Limited, James Fu Bin Lu ×5 filings | April 11, 2025 | 13.50% | Amendment | — | SEC |
| J MICHAEL GEARON JR, 28th Street Ventures LLC, The 1997 Gearon Family Trust | Feb. 3, 2025 | 8.20% | Amendment | — | SEC |
| Jeremy Leonard Brest ×4 filings | Nov. 13, 2024 | — | Initial filing | — | SEC |
| Ashish Gupta. | Nov. 13, 2024 | — | Initial filing | — | SEC |
| Tiga SVH Investments Limited, Tiga Investments Pte. Ltd., G. Raymond Zage, III ×4 filings | Nov. 13, 2024 | — | Initial filing | — | SEC |
| Ashish Gupta | Nov. 28, 2022 | — | Initial filing | Passive investment | SEC |
| 28th Street Ventures LLC, J. Michael Gearon, Jr., The 1997 Gearon Family Trust | Nov. 28, 2022 | — | 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 |
|---|---|---|---|---|
| VFMV · VANGUARD WELLINGTON FUND | 0.41% | 119,774 SH | Aug. 8, 2026 | Daily |
| MILN · Global X Funds | 0.31% | 23,878 NS | May 31, 2026 | N-PORT |
| TRFM · ETF Series Solutions | 0.22% | 25,923 NS | April 30, 2026 | N-PORT |
| SOCL · Global X Funds | 0.21% | 14,709 NS | April 30, 2026 | N-PORT |
| FYC · First Trust Exchange-Traded AlphaDE… | 0.12% | 94,765 NS | April 30, 2026 | N-PORT |
| JPSE · J.P. Morgan Exchange-Traded Fund Tr… | 0.12% | 51,025 NS | April 30, 2026 | N-PORT |
| GINN · Goldman Sachs ETF Trust | 0.06% | 10,305 NS | May 31, 2026 | N-PORT |
| FSCC · Federated Hermes ETF Trust | 0.05% | 11,722 NS | May 31, 2026 | N-PORT |
| VOX · VANGUARD WORLD FUND | 0.03% | 123,165 SH | Aug. 8, 2026 | Daily |
| FCOM · FIDELITY COVINGTON TRUST | 0.03% | 39,426 NS | April 30, 2026 | N-PORT |
| IWO · iShares Trust | 0.03% | 240,780 SH | Aug. 8, 2026 | Daily |
| BKSE · BNY Mellon ETF Trust | 0.03% | 1,662 NS | April 30, 2026 | N-PORT |
| DFAS · Dimensional ETF Trust | 0.03% | 262,356 NS | April 30, 2026 | N-PORT |
| FAD · First Trust Exchange-Traded AlphaDE… | 0.02% | 8,838 NS | April 30, 2026 | N-PORT |
| BBSC · J.P. Morgan Exchange-Traded Fund Tr… | 0.02% | 12,990 NS | April 30, 2026 | N-PORT |
| GSSC · Goldman Sachs ETF Trust | 0.02% | 16,788 NS | May 31, 2026 | N-PORT |
| VTWG · VANGUARD SCOTTSDALE FUNDS | 0.02% | 28,019 SH | Aug. 8, 2026 | Daily |
| PKW · Invesco Exchange-Traded Fund Trust | 0.02% | 20,830 SH | Aug. 8, 2026 | Daily |
| ISCG · iShares Trust | 0.02% | 9,404 SH | Aug. 8, 2026 | Daily |
| IWM · iShares Trust | 0.01% | 680,179 SH | Aug. 8, 2026 | Daily |
| RSSL · Global X Funds | 0.01% | 13,667 NS | April 30, 2026 | N-PORT |
| SCHA · SCHWAB STRATEGIC TRUST | 0.01% | 210,432 NS | May 31, 2026 | N-PORT |
| VXF · VANGUARD INDEX FUNDS | 0.01% | 491,071 SH | Aug. 8, 2026 | Daily |
| VTWO · VANGUARD SCOTTSDALE FUNDS | 0.01% | 151,728 SH | Aug. 8, 2026 | Daily |
| ITWO · ProShares Trust | 0.01% | 1,482 NS | May 31, 2026 | N-PORT |
| ISCB · iShares Trust | 0.01% | 1,501 SH | Aug. 8, 2026 | Daily |
| UWM · ProShares Trust | 0.01% | 1,159 NS | May 31, 2026 | N-PORT |
| WSML · iShares Trust | 0.01% | 2,171 SH | Aug. 8, 2026 | Daily |
| DXUV · Dimensional ETF Trust | 0.00% | 1,354 NS | April 30, 2026 | N-PORT |
| URTY · ProShares Trust | 0.00% | 1,173 NS | May 31, 2026 | N-PORT |
| IGM · iShares Trust | 0.00% | 23,836 SH | Aug. 8, 2026 | Daily |
| DFSU · Dimensional ETF Trust | 0.00% | 5,339 NS | April 30, 2026 | N-PORT |
| DCOR · Dimensional ETF Trust | 0.00% | 4,742 NS | April 30, 2026 | N-PORT |
| MSSM · MORGAN STANLEY PATHWAY FUNDS | 0.00% | 1,156 NS | May 31, 2026 | N-PORT |
| HDG · ProShares Trust | 0.00% | 29 NS | May 31, 2026 | N-PORT |
| ITOT · iShares Trust | 0.00% | 72,325 SH | Aug. 8, 2026 | Daily |
| DFAC · Dimensional ETF Trust | 0.00% | 34,885 NS | April 30, 2026 | N-PORT |
| DFAU · Dimensional ETF Trust | 0.00% | 6,552 NS | April 30, 2026 | N-PORT |
| SCHB · SCHWAB STRATEGIC TRUST | 0.00% | 27,637 NS | May 31, 2026 | N-PORT |
| EBI · RBB Fund Trust | 0.00% | 345 NS | May 31, 2026 | N-PORT |
| IWV · iShares Trust | 0.00% | 6,618 SH | Aug. 8, 2026 | Daily |
| VTI · VANGUARD INDEX FUNDS | 0.00% | 844,619 SH | Aug. 8, 2026 | Daily |
| VTHR · VANGUARD SCOTTSDALE FUNDS | 0.00% | 2,467 SH | Aug. 8, 2026 | Daily |