HROW Harrow, Inc. - Common Stock
$41.66
Price · Aug 19, 2026
Fundamentals as of Aug 10, 2026
52W Range
$29–$55
50% of range
Analyst Rating
BUY
14 analysts
Price Target
$68
+62% upside
P/E (TTM)
-297.5
ROE
-8.4%
Net Profit Margin
-1.9%
About Harrow, Inc. - Common Stock Company overview from Wikipedia
Harrow Health, Inc., formerly known as Imprimis Pharmaceuticals, is a publicly traded pharmaceutical company based in Nashville, Tennessee.
Read more
Harrow Health, Inc., formerly known as Imprimis Pharmaceuticals, is a publicly traded pharmaceutical company based in Nashville, Tennessee.
Since 2014, Harrow has started six healthcare businesses, including ImprimisRx, an ophthalmic-focused pharmaceutical company. In 2017, Harrow started and funded Eton Pharmaceuticals with a $20 million Series A financing, and Eton is now a publicly traded company. In 2017, Harrow started Surface Pharmaceuticals, hiring Dr. Kamran Hosseini to be its chief executive officer. Surface was funded with a $20 million Series A financing with Flying L Partners leading the round. In 2018, Harrow started Melt Pharmaceuticals and announced an $11 million Series A financing.
In 2019, Harrow hired founder and former CEO of Doxy.me, Drew Livingston, as its chief innovation officer. Livingston is the senior executive of Harrow's Visionology.com telemedicine subsidiary.
Administration and drug pricing advocacy
The company's founder and chief executive officer is Mark L. Baum, a lawyer by training. Baum has been working in the HIV-related pharmacy field since 1999. Baum has been an advocate for drug pricing and patient advocacy, debating former US congressman James Greenwood on this issue at the Oxford Union debating society. In 2016, Baum authored a monograph on drug pricing and has written about pharmaceutical market monopolies in The Wall Street Journal.
Harrow, through its ImprimisRx subsidiary, has sought to create competition for drugs that companies have monopolies through regulatory or other means by marketing new formulations as a compounding pharmacy. This strategy would allow patient access to certain lower cost medication provided, among other conditions, a patient's physician believed such a formulation was best suited for a patient's needs.
In 2015, the company gained international attention when it compounded a pyrimethamine and leucovorin combination formulation which it argued may offer a low-cost, US$1 per pill, "alternative" to Daraprim, a medication which gained public attention after its price in the United States was increased by over 5,000 percent by Martin Shkreli and Turing Pharmaceuticals. In December 2015, Express Scripts accepted the company's product into its formulary.
In 2016, it introduced a lower cost version of tiopronin, and was said to have been working on a version of Mylan's EpiPen. The EpiPen competitor's price target was US$100 for a pair of injectors.
In October 2015, Anthony Principi, a former United States Secretary of Veterans Affairs, was elected to the company's board of directors.
ImprimisRx compounding business
Through its compounding subsidiary ImprimisRx, the company was the first pharmaceutical compounding company to make cGMP ophthalmic eye drops and other sterile compounded products available at a national scale through its FDA-registered outsourcing facility.
ImprimisRx's primary business is that of compounding drugs; that is, combining or altering the formulation of existing drugs to market them to specific populations. As of 2015, the company's business model was driven by development and sale of inexpensive alternatives to off-patent medicines where there was previously only a single manufacturer who could therefore charge outsize prices.
In August 2020, ImprimisRx announced that it was expanding its business beyond compounded drugs and that through a partnership with EyePoint Pharmaceuticals, it would begin to sell Dexycu, an FDA-approved steroid product.
As of 2020, Imprimis operated two pharmaceutical production and distribution facilities, both of which are located in Ledgewood, New Jersey. The company has licenses to operate federally, through the US DEA, and through state pharmacy boards in all 50 of the United States.
Litigation
In 2017, after launching a $49 per month low-cost compounded cyclosporine-A formulation as a potential competitor to Restasis and a glaucoma eye drop program called Simple Drops, the company, alongside Sinceres, became the target of a suit from Allergan for claims connected to supposed false and misleading marketing statements.
The company responded, calling Allergan a "professional litigant" and stating, "Allergan, one of the most powerful Big Pharma companies in the world, has filed this lawsuit against one of the smallest pharmaceutical companies in the world, to snuff out any competition to its high drug price strategies. Allergan, a true Goliath, is bent on ensuring that Americans continue to pay the highest possible prices for its drugs."
During the lawsuit, it was revealed that Allergan engaged in significant lobbying to FDA, state boards of pharmacy, and other federal and state agencies to complain about ImprimisRx. In December 2017, ImprimisRx received a warning letter from the FDA, relaying the agency's determination that the marketing of some of the company's eye drops contained false or misleading claims about efficacy and risks, allegedly in violation of federal law.
After a jury trial, Harrow (then Imprimis Pharmaceuticals) was ordered to pay $0 for disgorgement of profit and $48,500 for lost profit, despite Allergan having sought $60 million.
Source: Wikipedia, CC BY-SA 4.0 · View on Wikipedia ↗
HROW Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$41.66
Market Cap
$1.55B
P/E (TTM)
-297.5
EPS (TTM)
$-0.14
Revenue (TTM)
$272M
Div Yield
—
ROE
-8.4%
Debt/Equity
—
52W Range
$29 – $55
HROW 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
$272M
2016-12-31
→
2025-12-31
EPS
$-0.14
2017-12-31
→
2025-12-31
Free Cash Flow
$43M
2016-12-31
→
2025-12-31
Margins
-1.9%
2016-12-31
→
2025-12-31
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Metric
5Y trend
HROW
Peer Median
P/E (TTM)
-297.5
31.7
P/S (TTM)
5.7
5.1
P/B
29.6
4.8
Price / FCF
36.1
—
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Metric
5Y trend
HROW
Peer Median
Gross Margin
75.0%
74.1%
Operating Margin
11.2%
—
Net Profit Margin
-1.9%
-0.88%
ROA
-1.3%
-2.9%
ROE
-8.4%
-6.8%
ROIC
218.6%
—
Financial Health Debt, liquidity, solvency — balance sheet strength
Metric
5Y trend
HROW
Peer Median
Current Ratio
2.2
4.7
Quick Ratio
1.9
—
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Metric
5Y trend
HROW
Peer Median
Revenue YoY
36.4%
—
Revenue CAGR 3Y
45.4%
—
Revenue CAGR 5Y
41.0%
—
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
Metric
5Y trend
HROW
Peer Median
HROW Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
BUY
14 analysts
- Strong Buy 5 35.7%
- Buy 8 57.1%
- Hold 1 7.1%
- Sell 0 0.0%
- Strong Sell 0 0.0%
12-Month Price Target
8 analysts · 2026-08-18
Median
$61.50
Mean
$67.50
← Below all targets
$41.66
Low
$59.00
High
$88.00
Median target
$61.50
+47.6%
Mean target
$67.50
+62.0%
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
-0.18%
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| June 30, 2026 | $-0.34 | $-0.18 | -0.16% |
| March 31, 2026 | $-0.74 | $-0.41 | -0.33% |
| Dec. 31, 2025 | $0.17 | $0.38 | -0.21% |
| Sept. 30, 2025 | $0.22 | $0.27 | -0.05% |
| June 30, 2025 | $0.13 | $0.01 | 0.12% |
| March 31, 2025 | $-0.50 | $-0.05 | -0.45% |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| HROW | $1.82B | -350.0 | 36.4% | -1.9% | -8.4% | 75.0% |
| ANIP | $1.78B | 23.8 | 43.8% | 8.9% | 16.6% | — |
| ETON | $457M | — | 104.9% | -5.8% | -18.4% | 53.5% |
| AVLN | — | — | — | — | — | — |
| MAZE | $2.04B | -13.6 | — | — | -598.9% | — |
| LBRX | $563M | -7.1 | — | — | -25.5% | — |
| INVA | — | 6.1 | 14.7% | — | — | — |
| XERS | $1.30B | — | 43.7% | 0.19% | -19.7% | — |
| PAHC | — | 21.5 | 27.4% | 3.7% | 17.8% | 30.9% |
| ANRO | $568M | -8.1 | — | — | -46.1% | — |
| OMER | $1.23B | -343.6 | — | — | 1.9% | — |
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 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $272M | $200M | $130M | $89M | $72M | $49M | $51M | $41M | $27M | $20M | $10M | $2M | |
| Cost of Revenue | $68M | $49M | $40M | $25M | $18M | $14M | $17M | $17M | $14M | · | · | · | |
| Gross Profit | $204M | $150M | $91M | $63M | $54M | $34M | $34M | $25M | $13M | $10M | $5M | $567.0K | |
| R&D Expense | $21M | $12M | $7M | $3M | $11M | $2M | $2M | $825.0K | $413.0K | $739.0K | $332.0K | $237.0K | |
| SG&A Expense | $153M | $129M | $83M | $58M | $41M | $31M | $33M | $29M | $25M | $18M | $13M | $8M | |
| Operating Expenses | $174M | $142M | $90M | $61M | $53M | $34M | $39M | $30M | $25M | · | · | · | |
| Operating Income | $31M | $9M | $431.0K | $2M | $2M | $385.0K | $-5M | $-5M | $-12M | $-16M | $-15M | $-10M | |
| Interest Expense | · | · | $21M | $7M | $5M | · | · | · | · | · | · | $3.8K | |
| Interest Income | · | · | · | · | · | · | · | · | · | · | · | $32.4K | |
| Other Non-op | $47.0K | $-185.0K | $-444.0K | $102.0K | $197.0K | $-73.0K | $630.0K | $103.0K | $-884.0K | $2M | $-1M | $29.0K | |
| Pretax Income | $-1M | $-17M | $-24M | $-14M | $-18M | $-3M | $-117.0K | $15M | $-13M | $-19M | · | · | |
| Income Tax | $4M | $161.0K | $701.0K | $75.0K | $133.0K | $4.0K | $8.0K | · | $-935.0K | $-111.0K | · | $3.0K | |
| Net Income | $-5M | $-17M | $-24M | $-14M | $-18M | $-3M | $168.0K | $15M | $-12M | $-19M | $-16M | $-10M | |
| EPS (Basic) | $-0.14 | $-0.49 | $-0.75 | $-0.51 | $-0.69 | $-0.13 | $0.01 | $0.67 | $-0.60 | · | · | · | |
| EPS (Diluted) | $-0.14 | $-0.49 | $-0.75 | $-0.51 | · | $-0.13 | $0.01 | $0.61 | $-0.60 | · | · | · | |
| Shares (Basic) | 36,760,461 | 35,650,714 | 32,616,777 | 27,460,968 | 26,757,451 | 25,895,352 | 25,323,159 | 21,917,570 | 20,027,712 | · | · | · | |
| Shares (Diluted) | 36,760,461 | 35,650,714 | 32,616,777 | 27,460,968 | · | 25,895,352 | 26,466,098 | 23,812,045 | 20,027,712 | · | · | · | |
| EBITDA | $32M | $10M | $1M | $3M | $3M | $2M | $-5M | $-5M | $-12M | $-16M | $-15M | $-10M |
Balance Sheet 27
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $73M | $47M | $74M | $96M | $42M | $4M | $5M | · | $4M | $9M | $3M | $8M | |
| Short-term Investments | · | · | $9M | $6M | $9M | $28M | · | · | · | · | · | · | |
| Receivables | $111M | $116M | $36M | $6M | $4M | $3M | $2M | $2M | $2M | $3M | $840.0K | $81.0K | |
| Inventory | $14M | $11M | $11M | $7M | $4M | $4M | $3M | $2M | $2M | $2M | $1M | $373.0K | |
| Prepaid Expense | $14M | $15M | $10M | $4M | $1M | $2M | $586.0K | $837.0K | $714.0K | $938.0K | $786.0K | $241.0K | |
| Other Current Assets | $2M | $3M | $2M | $118.0K | $92.0K | $190.0K | $105.0K | $125.0K | $124.0K | $106.0K | $119.0K | $35.0K | |
| Current Assets | $212M | $190M | $139M | $118M | $61M | $41M | $36M | $33M | $9M | $15M | $6M | $9M | |
| PP&E (Net) | $3M | $4M | $4M | $3M | $3M | $4M | $5M | $6M | $6M | $7M | $3M | $243.0K | |
| PP&E (Gross) | $15M | $15M | $14M | $13M | $11M | $10M | $11M | $11M | $9M | $9M | $3M | $288.0K | |
| Accum. Depreciation | $12M | $11M | $10M | $9M | $8M | $6M | $5M | $4M | $3M | $1M | $300.0K | $45.0K | |
| Goodwill | $332.0K | $332.0K | $332.0K | $332.0K | $332.0K | $332.0K | $332.0K | $2M | $2M | $2M | $2M | $332.0K | |
| Intangibles | $175M | $185M | $160M | $24M | $16M | $2M | $2M | $3M | $3M | $3M | $3M | $611.0K | |
| Total Assets | $399M | $389M | $312M | $157M | $98M | $57M | $59M | $49M | $24M | $27M | $14M | $10M | |
| Accounts Payable | $35M | $39M | $25M | $14M | $6M | $4M | $8M | $6M | $4M | $4M | $3M | $787.0K | |
| Short-term Debt | · | $220M | · | · | · | $4M | $2M | $3M | · | $4M | · | · | |
| Current Liabilities | $96M | $91M | $49M | $19M | $10M | $11M | $12M | $12M | $6M | $10M | $5M | $2M | |
| Capital Leases | $8M | $9M | $7M | $7M | $6M | $7M | $6M | · | $720.0K | $1M | $1.0K | $19.0K | |
| Deferred Tax | · | · | · | · | · | · | · | · | · | $936.0K | $1M | · | |
| Total Liabilities | $347M | $320M | $242M | $130M | $87M | $31M | $32M | $25M | $21M | $21M | $16M | $2M | |
| Long-term Debt | $250M | $263M | $247M | $152M | $103M | $20M | · | $23M | $23M | · | · | · | |
| Total Debt | · | · | · | · | · | $3M | $2M | $3M | · | $4M | · | · | |
| Common Stock | $37.0K | $35.0K | $35.0K | $30.0K | $27.0K | $26.0K | $26.0K | $24.0K | $21.0K | $19.0K | $10.0K | $9.0K | |
| Paid-in Capital | $209M | $221M | $205M | $137M | $107M | $105M | $102M | $99M | $91M | $83M | · | · | |
| Retained Earnings | $-157M | $-151M | $-134M | $-109M | $-95M | $-77M | $-74M | $-74M | $-89M | $-77M | $-58M | $-42M | |
| Stockholders' Equity | $52M | $70M | $71M | $28M | $11M | $27M | $28M | $25M | $3M | $6M | $-1M | $8M | |
| Liabilities + Equity | $399M | $389M | $312M | $157M | $98M | $57M | $59M | $49M | $24M | $27M | $14M | $10M | |
| Shares Outstanding | 37,229,159 | 35,622,214 | 35,168,260 | 29,901,530 | 26,902,763 | 25,749,875 | 25,526,931 | 24,339,610 | 20,623,129 | 18,627,915 | 9,755,678 | 9,258,231 |
Cash Flow 16
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $1M | $1M | $1M | $1M | $2M | $2M | $2M | $2M | $1M | $1M | $255.0K | $37.0K | |
| Stock-based Comp | $13M | $18M | $16M | $8M | $6M | $3M | $2M | $2M | $3M | $4M | $3M | $3M | |
| Deferred Tax | · | · | · | · | · | · | · | $0 | $-935.0K | $-111.0K | · | · | |
| Amort. of Intangibles | $17M | $12M | $10M | $2M | $161.0K | $167.0K | $209.0K | $235.0K | $364.0K | $351.0K | $355.0K | $48.0K | |
| Other Non-cash | $35M | $-24M | $12M | $7M | $16M | $-2M | · | · | · | · | · | · | |
| Operating Cash Flow | $44M | $-22M | $4M | $2M | $5M | $-1M | $950.0K | $687.0K | $-9M | $-11M | $-11M | $-7M | |
| CapEx | $887.0K | $2M | $1M | $3M | $2M | $862.0K | $1M | $2M | $772.0K | $7M | $-995.0K | $174.0K | |
| Investing Cash Flow | $-5M | $-33M | $-153M | $-2M | $-19M | $-981.0K | $-2M | $-2M | $-961.0K | $-7M | $-5M | $-910.0K | |
| Stock Issued | · | · | $65M | $23M | · | · | · | $642.0K | $1M | $212.0K | $404.0K | · | |
| Stock Repurchased | · | · | · | · | · | · | · | · | · | · | · | $-13.0K | |
| Net Stock Activity | · | · | · | $23M | · | · | · | $642.0K | $1M | $212.0K | $404.0K | $-13.1K | |
| Financing Cash Flow | $-13M | $29M | $127M | $54M | $51M | $1M | $-1M | $4M | $5M | $25M | $11M | $599.0K | |
| Net Change in Cash | $26M | $-27M | $-22M | $54M | $38M | $-648.0K | $-2M | $3M | $-5M | $6M | $-6M | $-7M | |
| Taxes Paid | $93.0K | $374.0K | · | $75.0K | $11.0K | $4.0K | $17.0K | $4.0K | $9.0K | $9.0K | $1.0K | $1.0K | |
| Free Cash Flow | $43M | $-24M | $2M | $-892.0K | $3M | $-2M | $-518.0K | $-1M | $-10M | $-4M | $-12M | $-7M | |
| Levered FCF | · | · | $-20M | $-8M | · | · | · | · | · | · | · | · |
Profitability 8
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 75.0% | 75.3% | 69.5% | 71.4% | 74.9% | 70.4% | 67.3% | 60.1% | 49.6% | 50.7% | 46.4% | 34.2% | |
| Operating Margin | 11.2% | 4.4% | 0.33% | 2.2% | 2.2% | 0.79% | -9.4% | -12.6% | -45.4% | -79.6% | -152.6% | -611.2% | |
| Net Margin | -1.9% | -8.8% | -18.8% | -15.9% | -24.9% | -6.9% | 0.33% | 35.4% | -44.8% | -95.7% | -163.6% | -609.4% | |
| Pretax Margin | -0.50% | -8.7% | -18.2% | -15.8% | -24.7% | -7.0% | -0.24% | 35.4% | -48.3% | · | · | · | |
| EBITDA Margin | 11.7% | 5.1% | 1.1% | 3.6% | 4.4% | 4.6% | -9.4% | -12.6% | -45.4% | -79.6% | -152.6% | -611.2% | |
| ROA | -1.3% | -5.0% | -10.4% | -11.0% | -23.1% | -5.8% | 0.31% | 39.9% | -46.9% | -92.3% | -130.5% | -77.8% | |
| ROE | -8.4% | -24.9% | -49.6% | -72.5% | -93.6% | -12.2% | 0.64% | 117.8% | -265.0% | -756.4% | -470.0% | -87.0% | |
| ROIC | 218.6% | 12.8% | 0.63% | 7.0% | 14.4% | 1.3% | · | · | -431.5% | · | · | · |
Liquidity & Solvency 4
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.2 | 2.1 | 2.8 | 6.3 | 6.2 | 3.7 | 3.0 | 2.8 | 1.5 | 1.5 | 1.1 | 5.8 | |
| Quick Ratio | 1.9 | 1.8 | 2.4 | 0.6 | 4.8 | 0.6 | 0.2 | 0.2 | 1.0 | 1.2 | 0.7 | 5.3 | |
| Debt / Equity | · | · | · | · | · | 0.1 | 0.1 | 0.1 | · | 0.6 | · | · | |
| Interest Coverage | · | · | 0.0 | 0.3 | · | · | · | · | · | · | · | -2670.2 |
Efficiency 3
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.7 | 0.6 | 0.6 | 0.7 | 0.9 | 0.8 | 0.9 | 1.1 | 1.0 | 1.0 | 0.8 | 0.1 | |
| Inventory Turnover | 5.6 | 4.6 | 4.6 | 4.7 | 4.5 | 4.0 | 6.5 | 8.1 | · | · | · | · | |
| Receivables Turnover | 2.4 | 2.6 | 6.1 | 16.5 | 20.3 | 20.9 | 26.1 | 24.0 | 12.0 | 10.6 | 21.1 | 40.8 |
Growth Rates 3
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue YoY | 36.4% | 53.3% | 46.9% | 22.2% | 48.3% | · | · | · | · | · | · | · | |
| Revenue CAGR 3Y | 45.4% | 40.2% | 38.6% | · | · | · | · | · | · | · | · | · | |
| Revenue CAGR 5Y | 41.0% | · | · | · | · | · | · | · | · | · | · | · |
Valuation (TTM) 14
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $272M | $200M | $130M | $89M | $72M | $49M | $51M | $41M | $27M | $20M | $10M | $2M | |
| Net Income TTM | $-5M | $-17M | $-24M | $-14M | $-18M | $-3M | $168.0K | $15M | $-12M | $-19M | $-16M | $-10M | |
| Market Cap | $1.82B | $1.20B | $394M | $441M | $232M | $177M | $199M | $138M | $35M | $47M | $68M | $69M | |
| Enterprise Value | · | · | · | · | · | $175M | · | · | · | $42M | · | · | |
| P/E | -350.0 | -68.5 | -14.9 | -28.9 | · | -52.8 | 778.0 | 9.3 | -2.8 | · | · | · | |
| P/S | 6.7 | 6.0 | 3.0 | 5.0 | 3.2 | 3.6 | 3.9 | 3.3 | 1.3 | 2.3 | 7.0 | 41.8 | |
| P/B | 34.8 | 17.2 | 5.6 | 16.0 | 20.6 | 6.5 | 7.2 | 5.6 | 13.4 | 7.2 | -48.8 | 8.5 | |
| P / Tangible Book | · | · | · | 124.7 | · | 7.1 | · | · | · | · | · | · | |
| P / Cash Flow | 41.6 | -53.8 | 102.6 | 258.9 | 45.7 | -160.6 | 209.1 | 201.6 | -4.0 | -4.2 | -6.1 | -9.8 | |
| P / FCF | 42.4 | -50.2 | 165.5 | -494.8 | 70.5 | -90.0 | -383.4 | -128.1 | -3.7 | -10.8 | -5.6 | -9.6 | |
| EV / EBITDA | · | · | · | · | · | 77.3 | · | · | · | -2.6 | · | · | |
| EV / FCF | · | · | · | · | · | -89.3 | · | · | · | -9.6 | · | · | |
| EV / Revenue | · | · | · | · | · | 3.6 | · | · | · | 2.1 | · | · | |
| Earnings Yield | -0.29% | -1.5% | -6.7% | -3.5% | · | -1.9% | 0.13% | 10.7% | -35.3% | · | · | · |
Income Statement 17
| 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 | $71M | $44M | $89M | $72M | $64M | $48M | $67M | $49M | $49M | $35M | $36M | $34M | $33M | $26M | $20M | $23M | |
| Cost of Revenue | $20M | $17M | $18M | $18M | $16M | $16M | $14M | $12M | $13M | $11M | $11M | $10M | $10M | $8M | $6M | $7M | |
| Gross Profit | $50M | $27M | $71M | $54M | $48M | $32M | $53M | $37M | $36M | $24M | $25M | $24M | $23M | $18M | $14M | $16M | |
| R&D Expense | $8M | $6M | $12M | $3M | $3M | $3M | $5M | $2M | $3M | $2M | $3M | $1M | $1M | $734.0K | $703.0K | $775.0K | |
| SG&A Expense | $53M | $43M | $43M | $36M | $33M | $41M | $35M | $34M | $32M | $29M | $26M | $21M | $20M | $16M | $15M | $15M | |
| Operating Expenses | $61M | $49M | $55M | $39M | $36M | $44M | $40M | $36M | $35M | $31M | $30M | $22M | $21M | $17M | $16M | $16M | |
| Operating Income | $-11M | $-22M | $16M | $15M | $11M | $-11M | $13M | $1M | $2M | $-7M | $-5M | $2M | $2M | $1M | $-2M | $-94.0K | |
| Interest Expense | · | · | · | · | · | · | · | · | · | $5M | · | $6M | $6M | $5M | $2M | $2M | |
| Other Non-op | $0 | · | $7M | $61.0K | $-6.0K | $-7M | $6M | $4.0K | $46.0K | $-7M | $-100.0K | $-195.0K | $-178.0K | $29.0K | · | · | |
| Pretax Income | $-17M | $-28M | $10M | $1M | $5M | $-18M | $6M | $-4M | $-6M | $-14M | $-10M | $-3M | $-4M | $-7M | $1M | $-6M | |
| Income Tax | $0 | $25.0K | · | · | $0 | · | $-514.0K | $20.0K | $655.0K | · | $-535.0K | $2M | $-15.0K | $-288.0K | $0 | $35.0K | |
| Net Income | $-17M | $-28M | $7M | $1M | $5M | $-18M | $7M | $-4M | $-6M | $-14M | $-9M | $-4M | $-4M | $-7M | $1M | $-6M | |
| EPS (Basic) | $-0.46 | $-0.74 | $0.19 | $0.03 | $0.14 | $-0.50 | $0.19 | $-0.12 | $-0.18 | $-0.38 | $-0.26 | $-0.13 | $-0.14 | $-0.22 | $0.05 | $-0.24 | |
| EPS (Diluted) | $-0.46 | $-0.74 | $0.20 | $0.03 | $0.13 | $-0.50 | $0.19 | $-0.12 | $-0.18 | $-0.38 | $-0.26 | $-0.13 | $-0.14 | $-0.22 | $0.05 | $-0.24 | |
| Shares (Basic) | 37,350,401 | 37,231,321 | -73,001,737 | 37,145,440 | 36,790,306 | 35,826,452 | -71,140,101 | 35,702,200 | 35,618,977 | 35,469,638 | -62,386,827 | 34,255,197 | 30,458,677 | 30,289,730 | -54,418,951 | 27,349,642 | |
| Shares (Diluted) | 37,350,401 | 37,231,321 | -76,794,851 | 38,875,005 | 38,853,855 | 35,826,452 | -71,140,101 | 35,702,200 | 35,618,977 | 35,469,638 | -62,386,827 | 34,255,197 | 30,458,677 | 30,289,730 | -54,418,951 | 27,349,642 | |
| EBITDA | $-11M | $-22M | · | $15M | $12M | $-11M | · | $1M | $2M | $-7M | · | $2M | $2M | $1M | · | $-94.0K |
Balance Sheet 27
| 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 | $84M | $95M | $73M | $74M | $53M | $67M | $47M | $73M | $71M | $69M | · | $66M | · | · | $96M | $45M | |
| Short-term Investments | · | · | · | · | · | · | · | · | · | $7M | · | $8M | $7M | $8M | $6M | $4M | |
| Receivables | $119M | $101M | $111M | $78M | $79M | $77M | $116M | $54M | $52M | $29M | · | $18M | $18M | $12M | $6M | $7M | |
| Inventory | $17M | $16M | $14M | $13M | $12M | $11M | $11M | $10M | $9M | $11M | · | $9M | $9M | $9M | $7M | $5M | |
| Prepaid Expense | $10M | $14M | $14M | $13M | $12M | $15M | $15M | $11M | $7M | $10M | · | $9M | $4M | $4M | $4M | $3M | |
| Other Current Assets | $1M | $1M | $2M | $3M | $3M | $3M | $3M | $1M | $1M | $2M | · | $118.0K | $427.0K | $118.0K | $118.0K | $73.0K | |
| Current Assets | $229M | $226M | $212M | $178M | $155M | $170M | $190M | $147M | $139M | $125M | · | $110M | $60M | $52M | $118M | $64M | |
| PP&E (Net) | $3M | $3M | $3M | $3M | $4M | $4M | $4M | $4M | $3M | $3M | · | $4M | $4M | $4M | $3M | $3M | |
| PP&E (Gross) | · | · | $15M | $15M | $15M | $15M | $15M | $15M | $14M | $14M | · | $13M | $13M | $13M | $13M | $12M | |
| Accum. Depreciation | · | · | $12M | $12M | $12M | $11M | $11M | $11M | $11M | $10M | · | $10M | $10M | $9M | $9M | $9M | |
| Goodwill | $332.0K | $332.0K | $332.0K | $332.0K | $332.0K | $332.0K | $332.0K | $332.0K | $332.0K | $332.0K | · | $332.0K | $332.0K | $332.0K | $332.0K | $332.0K | |
| Intangibles | $176M | $181M | $175M | $172M | $177M | $181M | $185M | $189M | $155M | $157M | · | $163M | $150M | $152M | $24M | $20M | |
| Total Assets | $417M | $420M | $399M | $363M | $345M | $364M | $389M | $352M | $307M | $296M | · | $286M | $224M | $217M | $157M | $99M | |
| Accounts Payable | $26M | $26M | $35M | $19M | $23M | $37M | $39M | $25M | $22M | $15M | · | $13M | $18M | $14M | $14M | $14M | |
| Accrued Liabilities | · | · | · | · | · | · | · | · | · | · | · | $59.0K | · | · | · | · | |
| Short-term Debt | · | · | · | $243M | $184M | $108M | · | · | · | · | · | · | · | · | · | · | |
| Current Liabilities | $102M | $91M | $96M | $65M | $249M | $187M | $91M | $95M | $54M | $42M | · | $19M | $23M | $18M | $19M | $18M | |
| Capital Leases | $7M | $8M | $8M | $8M | $8M | $9M | $9M | $10M | $7M | $7M | · | $7M | $7M | $7M | $7M | $8M | |
| Total Liabilities | $402M | $391M | $347M | $316M | $296M | $308M | $320M | $294M | $248M | $235M | · | $211M | $202M | $196M | $130M | $98M | |
| Long-term Debt | · | $300M | $250M | $347M | $251M | $257M | · | $231M | $236M | $243M | · | $252M | $240M | $244M | · | $98M | |
| Total Debt | · | · | · | $243M | $184M | $108M | · | · | · | · | · | · | · | · | · | · | |
| Common Stock | $37.0K | $37.0K | $37.0K | $37.0K | $36.0K | $35.0K | $35.0K | $35.0K | $35.0K | $35.0K | · | $35.0K | $30.0K | $30.0K | $30.0K | $27.0K | |
| Paid-in Capital | $217M | $213M | $209M | $210M | $214M | $226M | $221M | $216M | $212M | $208M | · | $200M | $143M | $138M | $137M | $112M | |
| Retained Earnings | $-201M | $-184M | $-157M | $-163M | $-164M | $-169M | $-151M | $-158M | $-154M | $-147M | · | $-125M | $-120M | $-116M | $-109M | $-111M | |
| Stockholders' Equity | $15M | $29M | $52M | $47M | $50M | $56M | $70M | $58M | $59M | $61M | · | $76M | $22M | $22M | $28M | $1M | |
| Liabilities + Equity | $417M | $420M | $399M | $363M | $345M | $364M | $389M | $352M | $307M | $296M | · | $286M | $224M | $217M | $157M | $99M | |
| Shares Outstanding | 37,484,233 | 37,269,400 | 37,229,159 | 37,034,582 | 36,714,679 | 35,654,171 | 35,622,214 | 35,611,365 | 35,479,492 | 35,380,955 | · | 35,117,621 | 30,276,938 | 30,056,370 | 29,901,530 | 27,074,307 |
Cash Flow 13
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $460.0K | $455.0K | $330.0K | $326.0K | $347.0K | $312.0K | $321.0K | $351.0K | $301.0K | $296.0K | $435.0K | $405.0K | $398.0K | $225.0K | $387.0K | $247.0K | |
| Stock-based Comp | $4M | $4M | $4M | $3M | $875.0K | $5M | $5M | $4M | $4M | $4M | $4M | $4M | $5M | $2M | $2M | $2M | |
| Deferred Tax | · | · | · | · | · | · | · | $20.0K | · | · | · | · | $0 | $-288.0K | · | · | |
| Amort. of Intangibles | $6M | $5M | $4M | $4M | $4M | $4M | $4M | $3M | $3M | $3M | $2M | $3M | $3M | $2M | $378.0K | $398.0K | |
| Other Non-cash | · | · | · | · | · | $33M | · | · | · | $4M | · | · | · | · | · | · | |
| Operating Cash Flow | $-10M | $-9M | $8M | $17M | $-803.0K | $20M | $-18M | $3M | $-3M | $-5M | $9M | $-1M | $5M | $-8M | $-4M | $-410.0K | |
| CapEx | $491.0K | $194.0K | $341.0K | $210.0K | $166.0K | $170.0K | $555.0K | $604.0K | $344.0K | $92.0K | $194.0K | $520.0K | $250.0K | $496.0K | $878.0K | $1M | |
| Investing Cash Flow | $-534.0K | $-18M | $-5M | $-225.0K | $-293.0K | $-212.0K | $-38M | $-597.0K | $5M | $-110.0K | $-203.0K | $-20M | $-1M | $-131M | $-5.0K | $-1M | |
| Financing Cash Flow | $-466.0K | $49M | $-5M | $5M | $-13M | $23.0K | $30M | $-721.0K | $73.0K | $-809.0K | $-18.0K | $64M | $189.0K | $62M | $55M | $0 | |
| Net Change in Cash | $-11M | $22M | $-1M | $21M | $-14M | $19M | $-25M | $2M | $2M | $-6M | $8M | $43M | $4M | $-77M | $51M | $-1M | |
| Taxes Paid | · | · | $55.0K | $0 | $0 | $38.0K | · | · | · | · | · | · | · | · | $0 | $35.0K | |
| Free Cash Flow | · | $-9M | · | · | · | $19M | · | · | · | $-5M | · | · | · | $-9M | · | · | |
| Levered FCF | · | · | · | · | · | · | · | · | · | · | · | · | · | $-13M | · | · |
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 | 71.3% | 61.2% | · | 75.3% | 74.5% | 67.5% | · | 75.6% | 74.4% | 69.5% | · | 70.6% | 70.1% | 68.3% | · | 70.5% | |
| Operating Margin | -15.6% | -50.0% | · | 20.6% | 17.9% | -23.5% | · | 2.7% | 3.1% | -20.0% | · | 5.1% | 7.0% | 4.6% | · | -0.41% | |
| Net Margin | -24.4% | -62.4% | · | 1.4% | 7.8% | -37.2% | · | -8.6% | -13.2% | -39.2% | · | -12.8% | -12.6% | -25.4% | · | -28.3% | |
| Pretax Margin | -24.4% | -62.4% | · | 1.4% | 7.8% | · | · | -8.5% | -11.9% | -39.2% | · | -8.3% | -12.7% | -26.6% | · | -28.2% | |
| EBITDA Margin | -15.6% | -50.0% | · | 21.0% | 18.4% | -22.8% | · | 2.7% | 3.1% | -19.2% | · | 5.1% | 7.0% | 4.6% | · | -0.41% | |
| ROA | -4.5% | -7.0% | · | 0.29% | 1.5% | -5.4% | · | -1.3% | -2.4% | -5.3% | · | -2.3% | -2.6% | -4.2% | · | -6.4% | |
| ROE | -53.3% | -64.8% | · | 1.9% | 9.2% | -30.4% | · | -6.3% | -16.0% | -32.9% | · | -11.4% | -30.0% | -41.5% | · | -72.6% | |
| ROIC | -72.4% | -77.0% | · | · | · | · | · | 2.3% | 2.9% | · | · | 3.5% | 10.5% | 5.3% | · | -7.8% |
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 | 2.2 | 2.5 | · | 2.7 | 0.6 | 0.9 | · | 1.5 | 2.6 | 3.0 | · | 5.8 | 2.6 | 2.9 | · | 3.5 | |
| Quick Ratio | 2.0 | 2.1 | · | 2.3 | 0.5 | 0.8 | · | 1.3 | 2.3 | 2.5 | · | 4.9 | 1.1 | 1.1 | · | 3.0 | |
| Debt / Equity | · | · | · | 5.2 | 3.7 | 1.9 | · | · | · | · | · | · | · | · | · | · | |
| Interest Coverage | · | · | · | · | · | · | · | · | · | -1.3 | · | 0.3 | 0.4 | 0.3 | · | -0.1 |
Efficiency 3
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.2 | 0.1 | · | 0.2 | 0.2 | 0.1 | · | 0.2 | 0.2 | 0.1 | · | 0.2 | 0.2 | 0.2 | · | 0.2 | |
| Inventory Turnover | 1.4 | 1.3 | · | 1.5 | 1.5 | 1.4 | · | 1.3 | 1.4 | 1.1 | · | 1.4 | 1.5 | 1.2 | · | 1.5 | |
| Receivables Turnover | 0.7 | 0.5 | · | 1.1 | 1.0 | 0.9 | · | 1.4 | 1.4 | 1.7 | · | 2.7 | 2.7 | 2.9 | · | 4.2 |
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 | $250M | $227M | · | $232M | $210M | $181M | · | $167M | $151M | $128M | · | $117M | $106M | $94M | · | $87M | |
| Net Income TTM | $-39M | $-39M | · | $-16M | $-23M | $-42M | · | $-29M | $-29M | $-29M | · | $-22M | $-24M | $-22M | · | $-23M | |
| Market Cap | $1.59B | $1.31B | · | $1.78B | $1.12B | $948M | · | $1.60B | $741M | $468M | · | $505M | $576M | $636M | · | $327M | |
| Enterprise Value | · | · | · | $1.95B | $1.25B | $990M | · | · | · | · | · | · | · | · | · | · | |
| P/E | -40.8 | -32.6 | · | -104.7 | -45.6 | -22.5 | · | -55.5 | -25.2 | -15.2 | · | -19.7 | -22.9 | -27.1 | · | -13.9 | |
| P/S | 6.4 | 5.8 | · | 7.7 | 5.3 | 5.3 | · | 9.6 | 4.9 | 3.6 | · | 4.3 | 5.5 | 6.7 | · | 3.8 | |
| P/B | 104.7 | 45.8 | · | 38.0 | 22.6 | 16.8 | · | 27.6 | 12.7 | 7.7 | · | 6.7 | 25.7 | 29.1 | · | 268.5 | |
| P / Cash Flow | · | -146.1 | · | · | · | 48.2 | · | · | · | -101.1 | · | · | · | -77.4 | · | · | |
| P / FCF | · | -143.1 | · | · | · | 48.6 | · | · | · | -99.2 | · | · | · | -73.0 | · | · | |
| EV / EBITDA | · | · | · | 129.6 | 106.5 | -90.7 | · | · | · | · | · | · | · | · | · | · | |
| EV / FCF | · | · | · | · | · | 50.8 | · | · | · | · | · | · | · | · | · | · | |
| EV / Revenue | · | · | · | 8.4 | 6.0 | 5.5 | · | · | · | · | · | · | · | · | · | · | |
| Earnings Yield | -2.5% | -3.1% | · | -0.95% | -2.2% | -4.4% | · | -1.8% | -4.0% | -6.6% | · | -5.1% | -4.4% | -3.7% | · | -7.2% |
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 | $272M | $200M | $130M | $89M | $72M |
| Gross Margin % | 75.0% | 75.3% | 69.5% | 71.4% | 74.9% |
| Operating Margin % | 11.2% | 4.4% | 0.33% | 2.2% | 2.2% |
| Net Income | $-5M | $-17M | $-24M | $-14M | $-18M |
| Diluted EPS | $-0.14 | $-0.49 | $-0.75 | $-0.51 | — |
Balance Sheet
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Current Ratio | 2.2 | 2.1 | 2.8 | 6.3 | 6.2 |
| Quick Ratio | 1.9 | 1.8 | 2.4 | 0.6 | 4.8 |
Cash Flow
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Free Cash Flow | $43M | $-24M | $2M | $-892.0K | $3M |
My Metrics Your personal watchlist — selected rows from Full Fundamentals
📊
Pick the metrics that matter to you — click the ➕ next to any row in Full Fundamentals above.
Your selection is saved and follows you across all tickers.
Institutional owners (13F) 245 filers · $773.9M 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 |
|---|---|---|---|---|
| 48 (+8 vs prior Q) | 34 (+4 vs prior Q) | 74 (+1 vs prior Q) | 67 (-4 vs prior Q) | +1.8M |
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 |
|---|---|---|---|---|
| Opaleye Management Inc. | $101,928,000 | 2,400,000 | 13.17% | Shares |
| Private Capital Management, LLC | $67,899,762 | 1,598,770 | 8.77% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $60,188,994 | 1,417,212 | 7.78% | Shares |
| Deep Track Capital, LP | $41,153,430 | 969,000 | 5.32% | Shares |
| STATE STREET CORP | $39,917,043 | 939,888 | 5.16% | Shares |
| BAMCO INC /NY/ | $34,373,094 | 809,350 | 4.44% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $33,342,270 | 784,905 | 4.31% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $31,550,963 | 742,900 | 4.08% | Call option |
| DIMENSIONAL FUND ADVISORS LP | $26,788,590 | 630,765 | 3.46% | Shares |
| Divisadero Street Capital Management, LP | $18,650,913 | 439,155 | 2.41% | Shares |
| CITADEL ADVISORS LLC | $16,622,758 | 391,400 | 2.15% | Call option |
| RICE HALL JAMES & ASSOCIATES, LLC | $16,459,036 | 387,545 | 2.13% | Shares |
| Schonfeld Strategic Advisors LLC | $13,574,473 | 319,625 | 1.75% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $13,531,367 | 318,610 | 1.75% | Shares |
| MARSHALL WACE, LLP | $12,157,037 | 286,250 | 1.57% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $11,623,869 | 273,696 | 1.50% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $9,998,202 | 235,418 | 1.29% | Shares |
| CITADEL ADVISORS LLC | $9,895,510 | 233,000 | 1.28% | Put option |
| Westside Investment Management, Inc. | $9,473,007 | 223,051 | 1.22% | Shares |
| FirstWave Capital Management LLC | $9,002,833 | 211,981 | 1.16% | Shares |
| Blackhawk Capital Partners, LLC | $8,631,645 | 203,241 | 1.12% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $8,074,227 | 190,116 | 1.04% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $7,827,221 | 184,300 | 1.01% | Put option |
| JANE STREET GROUP, LLC | $7,772,010 | 183,000 | 1.00% | Call option |
| ROYCE & ASSOCIATES LP | $6,565,310 | 154,587 | 0.85% | Shares |
| Ikarian Capital, LLC | $5,766,364 | 135,775 | 0.75% | Shares |
| Advantage Alpha Capital Partners LP | $5,374,624 | 111,553 | 0.69% | Shares |
| Diametric Capital, LP | $4,965,082 | 116,908 | 0.64% | Shares |
| WOODMONT INVESTMENT COUNSEL LLC | $4,748,571 | 111,810 | 0.61% | Shares |
| FIRST TRUST ADVISORS LP | $4,260,378 | 100,315 | 0.55% | Shares |
| STATE OF WISCONSIN INVESTMENT BOARD | $4,146,219 | 97,627 | 0.54% | Shares |
| 12th Street Asset Management Company, LLC | $3,882,140 | 91,409 | 0.50% | Shares |
| Lumbard & Kellner, LLC | $3,835,975 | 90,322 | 0.50% | Shares |
| Steward Partners Investment Advisory, LLC | $3,832,960 | 90,251 | 0.50% | Shares |
| MILLENNIUM MANAGEMENT LLC | $3,575,210 | 84,182 | 0.46% | Shares |
| EQUITABLE TRUST CO | $3,371,184 | 79,378 | 0.44% | Shares |
| BANK OF AMERICA CORP /DE/ | $3,138,533 | 73,900 | 0.41% | Shares |
| Squarepoint Ops LLC | $3,126,726 | 73,622 | 0.40% | Shares |
| KENNEDY CAPITAL MANAGEMENT LLC | $3,004,668 | 70,748 | 0.39% | Shares |
| Swiss National Bank | $2,696,845 | 63,500 | 0.35% | Shares |
| CITADEL ADVISORS LLC | $2,533,888 | 59,663 | 0.33% | Shares |
| Jefferson Bridge Capital, LLC | $2,427,925 | 57,168 | 0.31% | Shares |
| CAPTRUST FINANCIAL ADVISORS | $2,395,903 | 56,414 | 0.31% | Shares |
| Militia Capital Partners, LP | $2,303,000 | 47,000 | 0.30% | Shares |
| PRINCIPAL FINANCIAL GROUP INC | $2,288,921 | 53,895 | 0.30% | Shares |
| GROUP ONE TRADING LLC | $2,085,914 | 49,115 | 0.27% | Shares |
| LJI Wealth Management, LLC | $2,021,572 | 47,600 | 0.26% | Shares |
| JANE STREET GROUP, LLC | $2,000,337 | 47,100 | 0.26% | Put option |
| RENAISSANCE TECHNOLOGIES LLC | $1,894,884 | 44,617 | 0.24% | Shares |
| JACOBS LEVY EQUITY MANAGEMENT, INC | $1,863,796 | 43,885 | 0.24% | Shares |
| AMERICAN CENTURY COMPANIES INC | $1,841,542 | 43,361 | 0.24% | Shares |
| RHUMBLINE ADVISERS | $1,739,772 | 40,965 | 0.22% | Shares |
| BARD ASSOCIATES INC | $1,716,171 | 40,409 | 0.22% | Shares |
| BLAIR WILLIAM & CO/IL | $1,693,704 | 39,880 | 0.22% | Shares |
| LPL Financial LLC | $1,547,267 | 36,432 | 0.20% | Shares |
| Campbell & CO Investment Adviser LLC | $1,541,066 | 36,286 | 0.20% | Shares |
| D.A. DAVIDSON & CO. | $1,471,586 | 34,650 | 0.19% | Shares |
| BOOTHBAY FUND MANAGEMENT, LLC | $1,417,351 | 33,373 | 0.18% | Shares |
| ALLIANCEBERNSTEIN L.P. | $1,390,549 | 39,437 | 0.18% | Shares |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM | $1,375,810 | 39,019 | 0.18% | Shares |
| STANSBERRY ASSET MANAGEMENT, LLC | $1,360,399 | 32,032 | 0.18% | Shares |
| GOLDMAN SACHS GROUP INC | $1,330,713 | 31,333 | 0.17% | Shares |
| Brookstone Capital Management | $1,323,068 | 31,153 | 0.17% | Shares |
| WELLINGTON MANAGEMENT GROUP LLP | $1,273,208 | 29,979 | 0.16% | Shares |
| GREAT LAKES ADVISORS, LLC | $1,145,119 | 26,963 | 0.15% | Shares |
| KORNITZER CAPITAL MANAGEMENT INC /KS | $1,117,556 | 26,314 | 0.14% | Shares |
| BlackRock, Inc. | $1,115,899 | 26,275 | 0.14% | Shares |
| Crawford Fund Management, LLC | $1,113,563 | 26,220 | 0.14% | Shares |
| Bank of New York Mellon Corp | $1,109,571 | 26,126 | 0.14% | Shares |
| OSAIC HOLDINGS, INC. | $1,066,373 | 25,109 | 0.14% | Shares |
| ENVESTNET ASSET MANAGEMENT INC | $1,063,406 | 25,039 | 0.14% | Shares |
| ExodusPoint Capital Management, LP | $1,029,600 | 24,243 | 0.13% | Shares |
| Bleakley Financial Group, LLC | $1,022,125 | 24,067 | 0.13% | Shares |
| Birchview Capital, LP | $1,019,280 | 24,000 | 0.13% | Shares |
| XTX Topco Ltd | $983,053 | 23,147 | 0.13% | Shares |
| Focus Partners Wealth | $979,826 | 23,071 | 0.13% | Shares |
| TWO SIGMA INVESTMENTS, LP | $954,556 | 22,476 | 0.12% | Shares |
| COMMERCE BANK | $952,602 | 22,430 | 0.12% | Shares |
| Squarepoint Ops LLC | $925,846 | 21,800 | 0.12% | Put option |
| VANGUARD ASSET MANAGEMENT, Ltd | $904,399 | 21,295 | 0.12% | Shares |
| IMC-Chicago, LLC | $886,646 | 20,877 | 0.11% | Shares |
| FineMark National Bank & Trust | $854,070 | 17,430 | 0.11% | Shares |
| Sonora Investment Management Group, LLC | $826,191 | 17,148 | 0.11% | Shares |
| CORSAIR CAPITAL MANAGEMENT, L.P. | $806,930 | 19,000 | 0.10% | Shares |
| MetLife Investment Management, LLC | $803,023 | 18,908 | 0.10% | Shares |
| Private Capital Management, LLC | $743,225 | 17,500 | 0.10% | Call option |
| Round Rock Advisors LLC | $742,418 | 17,481 | 0.10% | Shares |
| MML INVESTORS SERVICES, LLC | $707,805 | 16,666 | 0.09% | Shares |
| Lido Advisors, LLC | $700,288 | 16,489 | 0.09% | Shares |
| Zurcher Kantonalbank (Zurich Cantonalbank) | $692,091 | 16,296 | 0.09% | Shares |
| Atria Investments, Inc | $683,215 | 16,087 | 0.09% | Shares |
| UBS Group AG | $672,640 | 15,838 | 0.09% | Shares |
| BARCLAYS PLC | $672,215 | 15,828 | 0.09% | Shares |
| SIMPLEX TRADING, LLC | $651,872 | 15,349 | 0.08% | Shares |
| ARISTEIA CAPITAL, L.L.C. | $651,702 | 15,345 | 0.08% | Shares |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. | $633,270 | 14,911 | 0.08% | Shares |
| VANGUARD GROUP INC | $617,155 | 12,595 | 0.08% | Shares |
| Grandeur Peak Global Advisors, LLC | $609,572 | 14,353 | 0.08% | Shares |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE | $600,441 | 14,138 | 0.08% | Shares |
| Walleye Partners, LLC | $572,369 | 13,477 | 0.07% | Shares |
Company insiders 20 insiders · 5 officers · 11 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Mark L. Baum | Chief Executive Officer | Feb. 10, 2014 A | 1,419,835 | 0 | 0 | $0 |
| Juliet Singh | CEO, Director and President | June 18, 2009 A | 1,954,125 | 0 | 0 | $0 |
| Andrew Boll | VP, Accounting and Reporting | Feb. 10, 2014 A | — | 0 | 0 | $0 |
| Joachim Ph Schupp | CHIEF MEDICAL OFFICER | April 1, 2013 A | — | 0 | 0 | $0 |
| Terry Nida | Chief Business Officer | Feb. 26, 2010 A | — | 0 | 0 | $0 |
| Perry J. Sternberg | Director | June 18, 2026 A | — | 0 | 0 | $0 |
| Adrienne L Graves | Director | June 18, 2026 A | — | 0 | 0 | $0 |
| Lauren P Silvernail | Director | June 18, 2026 A | — | 0 | 0 | $0 |
| Peter C Kenny | Director | Oct. 2, 2013 A | 8,947 | 0 | 0 | $0 |
| Robert J Kammer | Director | June 28, 2013 A | 931,689 | 0 | 0 | $0 |
| August Shelby Bassani | Director | June 27, 2013 A | 6,865 | 0 | 0 | $0 |
| Paul Finnegan | Director | June 27, 2013 A | 6,865 | 0 | 0 | $0 |
| Jeffrey J Abrams | Director | June 27, 2013 A | 45,927 | 0 | 0 | $0 |
| Stephen G Austin | Director | June 27, 2013 A | 6,865 | 0 | 0 | $0 |
| DERMASTAR INTERNATIONAL, LLC | 10% owner | July 12, 2012 J | 0 | 0 | 0 | $0 |
| Amir Shojaei | — | Aug. 14, 2026 M | 0 | 0 | 1 | $-450,000 |
| John N Bonfiglio | — | Oct. 20, 2010 A | 50,000 | 0 | 0 | $0 |
| John T Lomoro | — | June 19, 2009 A | — | 0 | 0 | $0 |
| Lynn C Swann | — | Nov. 21, 2008 A | 25,000 | 0 | 0 | $0 |
| Anthony S Thornley | — | Nov. 21, 2008 A | 60,900 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
Activists & 5%+ owners 5 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 |
|---|---|---|---|---|---|
| Mark L. Baum ×3 filings | April 7, 2025 | 10.69% | Amendment | — | SEC |
| April 27, 2021 | — | Initial filing | — | SEC | |
| Robert J. Kammer, as Trustee of The Robert J. Kammer Living Trust established 6/1/2000, Robert J. Kammer ×2 filings | Aug. 30, 2016 | — | Initial filing | Passive investment | SEC |
| Dr. Robert J. Kammer ×2 filings | Aug. 16, 2013 | — | Initial filing | — | SEC |
| DermaStar International, LLC ×7 filings | Aug. 10, 2012 | — | 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 46 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 |
|---|---|---|---|---|
| PILL · Direxion Shares ETF Trust | 1.47% | 4,670 NS | April 30, 2026 | N-PORT |
| IWC · iShares Trust | 0.29% | 109,900 SH | Aug. 8, 2026 | Daily |
| IHE · iShares Trust | 0.29% | 118,464 SH | Aug. 8, 2026 | Daily |
| FYC · First Trust Exchange-Traded AlphaDE… | 0.26% | 66,235 NS | April 30, 2026 | N-PORT |
| IBBQ · Invesco Exchange-Traded Fund Trust … | 0.10% | 2,031 SH | Aug. 8, 2026 | Daily |
| GSSC · Goldman Sachs ETF Trust | 0.10% | 28,159 NS | May 31, 2026 | N-PORT |
| FSMD · FIDELITY COVINGTON TRUST | 0.08% | 48,827 NS | April 30, 2026 | N-PORT |
| VTWG · VANGUARD SCOTTSDALE FUNDS | 0.08% | 34,722 SH | Aug. 8, 2026 | Daily |
| IWO · iShares Trust | 0.08% | 291,642 SH | Aug. 8, 2026 | Daily |
| FYX · First Trust Exchange-Traded AlphaDE… | 0.07% | 19,636 NS | April 30, 2026 | N-PORT |
| BIB · ProShares Trust | 0.07% | 1,370 NS | May 31, 2026 | N-PORT |
| BBSC · J.P. Morgan Exchange-Traded Fund Tr… | 0.06% | 10,343 NS | April 30, 2026 | N-PORT |
| FAD · First Trust Exchange-Traded AlphaDE… | 0.05% | 6,175 NS | April 30, 2026 | N-PORT |
| OMFS · Invesco Exchange-Traded Self-Indexe… | 0.04% | 2,997 SH | Aug. 8, 2026 | Daily |
| IWM · iShares Trust | 0.04% | 824,976 SH | Aug. 8, 2026 | Daily |
| VTWO · VANGUARD SCOTTSDALE FUNDS | 0.04% | 186,298 SH | Aug. 8, 2026 | Daily |
| RSSL · Global X Funds | 0.04% | 13,694 NS | April 30, 2026 | N-PORT |
| DFAS · Dimensional ETF Trust | 0.04% | 123,278 NS | April 30, 2026 | N-PORT |
| ISCG · iShares Trust | 0.03% | 8,711 SH | Aug. 8, 2026 | Daily |
| SMLF · iShares Trust | 0.03% | 33,778 SH | Aug. 8, 2026 | Daily |
| ITWO · ProShares Trust | 0.03% | 1,486 NS | May 31, 2026 | N-PORT |
| SCHA · SCHWAB STRATEGIC TRUST | 0.02% | 158,672 NS | May 31, 2026 | N-PORT |
| AVSC · AMERICAN CENTURY ETF TRUST | 0.02% | 18,041 NS | May 31, 2026 | N-PORT |
| FHLC · FIDELITY COVINGTON TRUST | 0.02% | 14,677 NS | April 30, 2026 | N-PORT |
| VXF · VANGUARD INDEX FUNDS | 0.02% | 383,679 SH | Aug. 8, 2026 | Daily |
| VHT · VANGUARD WORLD FUND | 0.02% | 94,953 SH | Aug. 8, 2026 | Daily |
| ISCB · iShares Trust | 0.02% | 1,222 SH | Aug. 8, 2026 | Daily |
| UWM · ProShares Trust | 0.02% | 1,162 NS | May 31, 2026 | N-PORT |
| WSML · iShares Trust | 0.01% | 2,264 SH | Aug. 8, 2026 | Daily |
| AVUQ · AMERICAN CENTURY ETF TRUST | 0.01% | 860 NS | May 31, 2026 | N-PORT |
| URTY · ProShares Trust | 0.01% | 1,174 NS | May 31, 2026 | N-PORT |
| DXUV · Dimensional ETF Trust | 0.01% | 949 NS | April 30, 2026 | N-PORT |
| MSSM · MORGAN STANLEY PATHWAY FUNDS | 0.01% | 1,223 NS | May 31, 2026 | N-PORT |
| EBI · RBB Fund Trust | 0.01% | 984 NS | May 31, 2026 | N-PORT |
| AVUS · AMERICAN CENTURY ETF TRUST | 0.00% | 18,264 NS | May 31, 2026 | N-PORT |
| HDG · ProShares Trust | 0.00% | 29 NS | May 31, 2026 | N-PORT |
| DFAC · Dimensional ETF Trust | 0.00% | 50,366 NS | April 30, 2026 | N-PORT |
| ONEQ · Fidelity Commonwealth Trust | 0.00% | 11,315 NS | May 31, 2026 | N-PORT |
| DFAU · Dimensional ETF Trust | 0.00% | 8,641 NS | April 30, 2026 | N-PORT |
| DCOR · Dimensional ETF Trust | 0.00% | 1,856 NS | April 30, 2026 | N-PORT |
| DFUS · Dimensional ETF Trust | 0.00% | 11,363 NS | April 30, 2026 | N-PORT |
| ITOT · iShares Trust | 0.00% | 45,405 SH | Aug. 8, 2026 | Daily |
| SCHB · SCHWAB STRATEGIC TRUST | 0.00% | 19,602 NS | May 31, 2026 | N-PORT |
| IWV · iShares Trust | 0.00% | 6,962 SH | Aug. 8, 2026 | Daily |
| VTI · VANGUARD INDEX FUNDS | 0.00% | 1,001,445 SH | Aug. 8, 2026 | Daily |
| VTHR · VANGUARD SCOTTSDALE FUNDS | 0.00% | 2,637 SH | Aug. 8, 2026 | Daily |