INMB INmune Bio Inc. - Common stock
$2.17
Price · Aug 19, 2026
Fundamentals as of Aug 6, 2026
52W Range
$1–$3
75% of range
Analyst Rating
BUY
10 analysts
Price Target
$7
+223% upside
P/E (TTM)
-1.2
ROE
-175.3%
Net Profit Margin
-91866.0%
INMB Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$2.17
Market Cap
$58M
P/E (TTM)
-1.2
EPS (TTM)
$-1.86
Revenue (TTM)
$50.0K
Div Yield
—
ROE
-175.3%
Debt/Equity
—
52W Range
$1 – $3
INMB Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view
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10-Year Performance Revenue, net income, margins and EPS trends
Revenue & Net Income
$50.0K
2020-12-31
→
2025-12-31
EPS
$-1.86
2021-12-31
→
2025-12-31
Free Cash Flow
$-24M
2025-12-31
→
2025-12-31
Margins
-91866.0%
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Metric
5Y trend
INMB
Peer Median
P/E (TTM)
-1.2
—
P/S (TTM)
1153.9
165.8
P/B
2.5
1.6
Price / FCF
-2.4
—
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Metric
5Y trend
INMB
Peer Median
Operating Margin
-94766.0%
—
Net Profit Margin
-91866.0%
-2229.6%
ROA
-127.8%
-64.3%
ROE
-175.3%
-102.1%
Financial Health Debt, liquidity, solvency — balance sheet strength
Metric
5Y trend
INMB
Peer Median
Current Ratio
3.6
4.8
Quick Ratio
3.5
—
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Metric
5Y trend
INMB
Peer Median
Revenue YoY
257.1%
—
Revenue CAGR 3Y
-48.9%
—
Revenue CAGR 5Y
35.4%
—
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
Metric
5Y trend
INMB
Peer Median
INMB Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
BUY
10 analysts
- Strong Buy 2 20.0%
- Buy 7 70.0%
- Hold 1 10.0%
- Sell 0 0.0%
- Strong Sell 0 0.0%
12-Month Price Target
4 analysts · 2026-08-14
Median
$7.50
Mean
$7.00
← Below all targets
$2.17
Low
$4.00
High
$9.00
Median target
$7.50
+245.6%
Mean target
$7.00
+222.6%
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
-0.02%
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| June 30, 2026 | $-0.05 | $-0.21 | 0.16% |
| March 31, 2026 | $-0.20 | $-0.22 | 0.02% |
| Dec. 31, 2025 | $-0.20 | $-0.27 | 0.07% |
| Sept. 30, 2025 | $-0.24 | $-0.33 | 0.09% |
| June 30, 2025 | $-1.05 | $-0.39 | -0.66% |
| March 31, 2025 | $-0.43 | $-0.48 | 0.05% |
| Dec. 31, 2024 | $-0.40 | $-0.55 | 0.15% |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| INMB | $41M | -0.8 | 257.1% | -91866.0% | -175.3% | — |
| PMVP | $67M | -0.8 | -40.5% | -1226.8% | -63.4% | — |
| RNTX | — | -0.6 | — | — | — | — |
| TENX | $114M | -9.1 | — | — | -52.5% | — |
| BOLD | $27M | -0.5 | — | — | -46.7% | — |
| INKT | — | -3.8 | 4.5% | -6931.8% | 63.4% | — |
| HRTX | $245M | -10.8 | 7.4% | -13.0% | 312.5% | 73.3% |
| RNXT | — | -2.6 | 2511.6% | — | — | — |
| EXOZ | $92M | -10.0 | — | — | -172.3% | — |
| RNAZ | — | -0.1 | — | — | — | — |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement 14
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Revenue | $50.0K | $14.0K | $155.0K | $374.0K | $181.0K | $11.0K | |
| R&D Expense | $21M | $33M | $20M | $17M | $21M | $6M | |
| SG&A Expense | $10M | $9M | $10M | $9M | $9M | $6M | |
| Operating Expenses | $47M | $43M | $30M | $26M | $29M | $12M | |
| Operating Income | $-47M | $-43M | $-30M | $-26M | $-29M | $-12M | |
| Interest Expense | · | $357.0K | $2M | $2M | · | · | |
| Other Non-op | $1M | $553.0K | $-267.0K | $-1M | $-1M | $129.0K | |
| Pretax Income | $46M | $42M | $30M | · | · | · | |
| Net Income | $-46M | $-42M | $-30M | $-27M | $-30M | $-12M | |
| EPS (Basic) | $-1.86 | $-2.11 | $-1.67 | $-1.52 | $-1.88 | · | |
| EPS (Diluted) | $-1.86 | $-2.11 | $-1.67 | $-1.52 | $-1.88 | · | |
| Shares (Basic) | 24,757,545 | 19,944,304 | 17,980,791 | 17,927,327 | 16,130,539 | · | |
| Shares (Diluted) | 24,757,545 | 19,944,304 | 17,980,791 | 17,927,327 | 16,130,539 | · | |
| EBITDA | $-47M | $-43M | · | $-26M | $-29M | $-12M |
Balance Sheet 21
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $25M | $21M | $36M | $52M | $75M | $22M | |
| Receivables | $4M | $1M | $2M | · | · | · | |
| Prepaid Expense | $595.0K | $331.0K | $2M | $4M | $14.0K | $220.0K | |
| Current Assets | $30M | $23M | $40M | $65M | $83M | $24M | |
| PP&E (Net) | $955.0K | · | · | · | · | · | |
| Accum. Depreciation | $87.0K | · | · | · | · | · | |
| Intangibles | · | $17M | $17M | $17M | $17M | $17M | |
| Other Non-current Assets | $595.0K | $79.0K | $131.0K | $99.0K | $99.0K | · | |
| Total Assets | $32M | $40M | $57M | $82M | $100M | $41M | |
| Accounts Payable | $8M | $7M | $8M | $5M | $4M | $2M | |
| Current Liabilities | $8M | $7M | $18M | $11M | $4M | $2M | |
| Capital Leases | $411.0K | $244.0K | $397.0K | $526.0K | $284.0K | $126.0K | |
| Total Liabilities | $9M | $7M | $19M | $22M | $20M | $2M | |
| Long-term Debt | · | $15M | · | $15M | $15M | · | |
| Common Stock | $27.0K | $22.0K | $18.0K | $18.0K | $18.0K | $13.0K | |
| Paid-in Capital | $233M | $196M | $159M | $152M | $144M | $72M | |
| Retained Earnings | $-209M | $-163M | $-121M | $-91M | $-64M | $-33M | |
| AOCI | $-737.0K | $-575.0K | $-799.0K | $-699.0K | $1.0K | $11.0K | |
| Stockholders' Equity | $24M | $32M | $37M | $60M | $80M | $39M | |
| Liabilities + Equity | $32M | $40M | $57M | $82M | $100M | $41M | |
| Shares Outstanding | 26,585,258 | 22,280,451 | 17,950,776 | 17,945,995 | 17,843,303 | 13,481,283 |
Cash Flow 9
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Stock-based Comp | $10M | $8M | $7M | $7M | $5M | $3M | |
| Operating Cash Flow | $-23M | $-33M | $-12M | $-23M | $-29M | $-9M | |
| CapEx | $1M | · | · | · | · | · | |
| Investing Cash Flow | $-1M | · | · | · | $-15M | · | |
| Stock Issued | $28M | $28M | $775.0K | $699.0K | $80M | $25M | |
| Net Stock Activity | $28M | $28M | · | $699.0K | $80M | $25M | |
| Financing Cash Flow | $28M | $18M | $-4M | $729.0K | $96M | $24M | |
| Net Change in Cash | $4M | $-15M | $-16M | $-23M | $53M | $15M | |
| Free Cash Flow | $-24M | · | · | · | · | · |
Profitability 6
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Operating Margin | -94766.0% | -304535.7% | · | -6938.8% | -16106.6% | -112016.1% | |
| Net Margin | -91866.0% | -300585.7% | · | -7299.2% | -16762.4% | -110838.8% | |
| Pretax Margin | 91866.0% | 300585.7% | · | · | · | · | |
| EBITDA Margin | -94766.0% | -304535.7% | · | -6938.8% | -16106.6% | -112016.1% | |
| ROA | -127.8% | -87.2% | · | -30.0% | -43.2% | -37.2% | |
| ROE | -175.3% | -118.9% | · | -44.1% | -36.0% | -30.3% |
Liquidity & Solvency 3
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Current Ratio | 3.6 | 3.1 | · | 5.9 | 19.0 | 13.5 | |
| Quick Ratio | 3.5 | 3.1 | · | 4.8 | 17.2 | 12.4 | |
| Interest Coverage | · | -54.0 | · | · | · | · |
Efficiency 2
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.0 | 0.0 | · | 0.0 | 0.0 | 0.0 | |
| Receivables Turnover | 0.0 | 0.0 | · | · | · | · |
Growth Rates 3
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Revenue YoY | 257.1% | -91.0% | -58.6% | 106.6% | 1545.5% | · | |
| Revenue CAGR 3Y | -48.9% | -57.4% | 141.5% | · | · | · | |
| Revenue CAGR 5Y | 35.4% | · | · | · | · | · |
Valuation (TTM) 10
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Revenue TTM | $50.0K | $14.0K | $155.0K | $374.0K | $181.0K | $11.0K | |
| Net Income TTM | $-46M | $-42M | $-30M | $-27M | $-30M | $-12M | |
| Market Cap | $41M | $104M | · | $114M | $182M | $232M | |
| P/E | -0.8 | -2.2 | -6.7 | -4.2 | -5.4 | · | |
| P/S | 829.5 | 7432.1 | · | 304.2 | 1005.5 | 21104.3 | |
| P/B | 1.8 | 3.2 | · | 1.9 | 2.3 | 6.0 | |
| P / Tangible Book | 1.8 | 6.7 | 9.7 | 2.6 | 2.9 | 10.4 | |
| P / Cash Flow | -1.8 | -3.1 | · | -5.0 | -6.4 | -26.0 | |
| P / FCF | -1.8 | · | · | · | · | · | |
| Earnings Yield | -119.2% | -45.2% | -14.8% | -24.0% | -18.4% | · |
Income Statement 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 | · | · | $0 | · | · | $50.0K | $0 | · | · | $14.0K | $28.0K | $43.0K | $46.0K | $38.0K | $97.0K | $98.0K | |
| R&D Expense | · | $4M | $2M | $5M | $6M | $8M | $7M | $10M | $7M | $9M | $6M | $6M | $4M | $4M | $3M | $5M | |
| SG&A Expense | $2M | $2M | $3M | $3M | $2M | $2M | $2M | $2M | $3M | $2M | $2M | $3M | $2M | $2M | $2M | $2M | |
| Operating Expenses | $1M | $6M | $5M | $7M | $25M | $10M | $9M | $12M | $10M | $11M | $8M | $9M | $6M | $6M | $6M | $8M | |
| Operating Income | $-1M | $-6M | $-5M | $-7M | $-25M | $-10M | $-9M | $-12M | $-10M | $-11M | $-8M | $-9M | $-6M | $-6M | $-6M | $-7M | |
| Interest Expense | · | · | · | · | · | $0 | · | $145.0K | $250.0K | $357.0K | $467.0K | $568.0K | $631.0K | $612.0K | · | · | |
| Other Non-op | $203.0K | $405.0K | $210.0K | $961.0K | $113.0K | $166.0K | $249.0K | $193.0K | $119.0K | $-8.0K | $-29.0K | $-35.0K | · | · | · | · | |
| Net Income | $-1M | $-5M | $-5M | $-6M | $-24M | $-10M | $-9M | $-12M | $-10M | $-11M | $-8M | $-9M | $-7M | $-7M | $-6M | $-8M | |
| EPS (Basic) | $-0.05 | $-0.20 | $-0.14 | $-0.24 | $-1.05 | $-0.43 | $-0.40 | $-0.60 | $-0.50 | $-0.61 | $-0.47 | $-0.48 | $-0.36 | $-0.36 | $-0.32 | $-0.43 | |
| EPS (Diluted) | $-0.05 | $-0.20 | $-0.14 | $-0.24 | $-1.05 | $-0.43 | $-0.40 | $-0.60 | $-0.50 | $-0.61 | $-0.47 | $-0.48 | $-0.36 | $-0.36 | $-0.32 | $-0.43 | |
| Shares (Basic) | 26,718,507 | 26,585,258 | -47,622,359 | 26,585,258 | 23,298,455 | 22,496,191 | -37,575,168 | 20,185,676 | 19,307,323 | 18,026,473 | -35,919,494 | 18,008,295 | 17,945,995 | 17,945,995 | -35,834,948 | 17,945,995 | |
| Shares (Diluted) | 26,718,507 | 26,585,258 | -47,622,359 | 26,585,258 | 23,298,455 | 22,496,191 | -37,575,168 | 20,185,676 | 19,307,323 | 18,026,473 | -35,919,494 | 18,008,295 | 17,945,995 | 17,945,995 | -35,834,948 | 17,945,995 | |
| EBITDA | $-1M | $-6M | · | $-7M | $-25M | $-10M | · | $-12M | $-10M | $-11M | · | $-9M | $-6M | $-6M | · | $-7M |
Balance Sheet 22
| 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 | · | · | $25M | $28M | $33M | $19M | $21M | $34M | $31M | $26M | $36M | $42M | $48M | $51M | $52M | $57M | |
| Receivables | $4M | $479.0K | $4M | $2M | $2M | $1M | $1M | $1M | $3M | · | $2M | · | · | · | · | · | |
| Prepaid Expense | $621.0K | $694.0K | $595.0K | $472.0K | $505.0K | $207.0K | $331.0K | $864.0K | $1M | $1M | $2M | $2M | $3M | $35.0K | $4M | $5M | |
| Current Assets | $24M | $23M | $30M | $31M | $36M | $21M | $23M | $36M | $35M | $30M | $40M | $46M | $53M | $57M | $65M | $67M | |
| PP&E (Net) | $1M | $903.0K | $955.0K | $878.0K | $706.0K | · | · | · | · | · | · | · | · | · | · | · | |
| Accum. Depreciation | $211.0K | · | $87.0K | · | · | · | · | · | · | · | · | · | · | · | · | · | |
| Intangibles | · | · | · | · | · | $17M | $17M | $17M | $17M | $17M | $17M | $17M | $17M | $17M | $17M | $17M | |
| Other Non-current Assets | $537.0K | $683.0K | $595.0K | $746.0K | $570.0K | $49.0K | $79.0K | $82.0K | $81.0K | $106.0K | $131.0K | $129.0K | $130.0K | $99.0K | $99.0K | $99.0K | |
| Total Assets | $27M | $26M | $32M | $33M | $38M | $38M | $40M | $53M | $52M | $47M | $57M | $63M | $70M | $74M | $82M | $84M | |
| Accounts Payable | $5M | $5M | $8M | $7M | $8M | $7M | $7M | $11M | $9M | $9M | $8M | $4M | $2M | $2M | $5M | $3M | |
| Current Liabilities | $6M | $5M | $8M | $7M | $9M | $8M | $7M | $14M | $15M | $17M | $18M | $14M | $13M | $10M | $11M | $7M | |
| Capital Leases | $593.0K | $806.0K | $411.0K | $623.0K | $231.0K | $201.0K | $244.0K | $284.0K | $322.0K | $360.0K | $397.0K | $430.0K | $463.0K | $498.0K | $526.0K | $607.0K | |
| Total Liabilities | $6M | $6M | $9M | $8M | $9M | $8M | $7M | $14M | $15M | $18M | $19M | $18M | $19M | $19M | $22M | $20M | |
| Long-term Debt | · | · | · | · | $15M | $15M | · | · | · | · | · | $12M | $15M | $15M | $15M | $15M | |
| Total Debt | · | · | · | · | · | · | · | $2M | $5M | $7M | · | · | · | · | · | · | |
| Common Stock | $28.0K | $27.0K | $27.0K | $27.0K | $27.0K | $23.0K | $22.0K | $22.0K | $20.0K | $18.0K | $18.0K | $18.0K | $18.0K | $18.0K | $18.0K | $18.0K | |
| Paid-in Capital | $238M | $235M | $233M | $230M | $227M | $203M | $196M | $194M | $179M | $161M | $159M | $157M | $155M | $154M | $152M | $150M | |
| Retained Earnings | $-216M | $-214M | $-209M | $-204M | $-197M | $-173M | $-163M | $-154M | $-142M | $-132M | $-121M | $-113M | $-104M | $-98M | $-91M | $-85M | |
| AOCI | $-823.0K | $-727.0K | $-737.0K | $-764.0K | $-763.0K | $-610.0K | $-575.0K | $-1M | $-713.0K | $-669.0K | $-799.0K | $-735.0K | $-712.0K | $-708.0K | $-699.0K | $-1M | |
| Stockholders' Equity | $20M | $20M | $24M | $25M | $29M | $30M | $32M | $39M | $36M | $28M | $37M | $44M | $51M | $55M | $60M | $64M | |
| Liabilities + Equity | $27M | $26M | $32M | $33M | $38M | $38M | $40M | $53M | $52M | $47M | $57M | $63M | $70M | $74M | $82M | $84M | |
| Shares Outstanding | 27,653,789 | 26,585,258 | 26,585,258 | 26,585,258 | 26,585,258 | 22,930,411 | 22,280,451 | 22,172,451 | 19,706,732 | 17,950,776 | 17,950,776 | 17,945,995 | 17,945,995 | 17,945,995 | 17,945,995 | 17,945,995 |
Cash Flow 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock-based Comp | $1M | $1M | $3M | $3M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | |
| Operating Cash Flow | $-3M | $-3M | $-3M | $-5M | $-7M | $-7M | $-11M | $-7M | $-8M | $-7M | $-3M | $-4M | $-3M | $-1M | $-6M | $-3M | |
| CapEx | · | · | $143.0K | $193.0K | · | · | · | · | · | · | · | · | · | · | · | · | |
| Investing Cash Flow | · | · | $-143.0K | $-193.0K | · | · | · | · | · | · | · | · | · | · | · | · | |
| Stock Issued | · | · | $0 | $0 | $22M | $5M | $0 | $12M | · | · | $0 | · | · | · | $0 | $0 | |
| Net Stock Activity | · | · | · | · | · | $5M | · | · | · | · | · | · | · | · | · | · | |
| Financing Cash Flow | · | · | $67.0K | $0 | $22M | $5M | $-2M | $10M | $13M | $-2M | $-2M | · | · | · | $0 | $0 | |
| Net Change in Cash | $-3M | $-3M | $-3M | $-6M | $14M | $-2M | $-13M | $2M | $5M | $-10M | $-6M | $-6M | $-3M | $-1M | $-5M | $-4M |
Profitability 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | · | · | · | · | · | -19810.0% | · | · | · | -78692.9% | · | -19832.6% | -13937.0% | -16902.6% | · | -7594.9% | |
| Net Margin | · | · | · | · | · | -19478.0% | · | · | · | -78750.0% | · | -19914.0% | -14132.6% | -17200.0% | · | -7882.6% | |
| EBITDA Margin | · | · | · | · | · | -19810.0% | · | · | · | -78692.9% | · | -19832.6% | -13937.0% | -16902.6% | · | -7594.9% | |
| ROA | -4.0% | -17.0% | · | -15.0% | -54.3% | -23.0% | · | -20.9% | -16.0% | -18.2% | · | -11.7% | -8.2% | -7.8% | · | -8.1% | |
| ROE | -5.2% | -21.9% | · | -20.2% | -75.1% | -33.6% | · | -29.3% | -22.4% | -26.4% | · | -15.9% | -10.8% | -10.0% | · | -10.2% |
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 | 4.0 | 4.2 | · | 4.2 | 4.2 | 2.6 | · | 2.6 | 2.4 | 1.7 | · | 3.2 | 4.0 | 5.5 | · | 9.7 | |
| Quick Ratio | 0.7 | 0.1 | · | 4.0 | 4.1 | 2.6 | · | 2.5 | 2.3 | 1.5 | · | 2.9 | 3.7 | 5.0 | · | 8.3 | |
| Debt / Equity | · | · | · | · | · | · | · | 0.1 | 0.1 | 0.3 | · | · | · | · | · | · | |
| Interest Coverage | · | · | · | · | · | · | · | -84.7 | -39.5 | -30.9 | · | · | · | · | · | · |
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 | · | · | · | · | · | 0.0 | · | · | · | 0.0 | · | 0.0 | 0.0 | 0.0 | · | 0.0 | |
| Receivables Turnover | · | · | · | · | · | 0.1 | · | · | · | · | · | · | · | · | · | · |
Valuation (TTM) 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | · | · | · | · | · | · | · | $141.0K | $141.0K | $141.0K | · | $225.0K | $198.0K | $315.0K | · | $291.0K | |
| Net Income TTM | $-38M | $-46M | · | $-53M | $-56M | $-43M | · | $-41M | $-36M | $-33M | · | $-29M | $-28M | $-28M | · | $-31M | |
| Market Cap | $45M | $30M | · | $55M | $61M | $179M | · | $120M | $174M | $211M | · | $121M | $163M | $116M | · | $111M | |
| Enterprise Value | · | · | · | · | · | · | · | $88M | $148M | $192M | · | · | · | · | · | · | |
| P/E | -1.1 | -0.6 | · | -0.9 | -0.9 | -3.6 | · | -2.5 | -4.5 | -6.5 | · | -4.2 | -5.9 | -4.1 | · | -3.5 | |
| P/S | · | · | · | · | · | · | · | 847.6 | 1232.7 | 1495.9 | · | 540.0 | 823.0 | 368.0 | · | 382.4 | |
| P/B | 2.2 | 1.5 | · | 2.2 | 2.1 | 6.0 | · | 3.1 | 4.8 | 7.5 | · | 2.8 | 3.2 | 2.1 | · | 1.7 | |
| P / Tangible Book | 2.2 | 1.5 | · | 2.2 | 2.1 | 13.6 | · | 5.4 | 8.8 | 18.0 | · | 4.4 | 4.8 | 3.0 | · | 2.4 | |
| P / Cash Flow | · | -8.8 | · | · | · | -26.2 | · | · | · | -28.2 | · | · | · | -101.6 | · | · | |
| EV / EBITDA | · | · | · | · | · | · | · | -7.2 | -15.0 | -17.5 | · | · | · | · | · | · | |
| EV / Revenue | · | · | · | · | · | · | · | 627.3 | 1047.7 | 1364.4 | · | · | · | · | · | · | |
| Earnings Yield | -94.5% | -169.9% | · | -112.1% | -111.7% | -27.4% | · | -40.6% | -22.1% | -15.4% | · | -24.1% | -16.9% | -24.1% | · | -28.2% |
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 | $50.0K | $14.0K | $155.0K | $374.0K | $181.0K |
| Operating Margin % | -94766.0% | -304535.7% | — | -6938.8% | -16106.6% |
| Net Income | $-46M | $-42M | $-30M | $-27M | $-30M |
| Diluted EPS | $-1.86 | $-2.11 | $-1.67 | $-1.52 | $-1.88 |
Balance Sheet
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Current Ratio | 3.6 | 3.1 | — | 5.9 | 19.0 |
| Quick Ratio | 3.5 | 3.1 | — | 4.8 | 17.2 |
Cash Flow
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Free Cash Flow | $-24M | — | — | — | — |
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Institutional owners (13F) 93 filers · $4.9M 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 |
|---|---|---|---|---|
| 26 (+7 vs prior Q) | 21 (+12 vs prior Q) | 27 (+3 vs prior Q) | 19 (-3 vs prior Q) | -161K |
Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.
| Institution | Value | Shares | % of tracked 13F | Type |
|---|---|---|---|---|
| VANGUARD CAPITAL MANAGEMENT LLC | $1,151,471 | 706,424 | 23.42% | Shares |
| MILLENNIUM MANAGEMENT LLC | $260,081 | 159,559 | 5.29% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $258,277 | 158,452 | 5.25% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $250,674 | 153,646 | 5.10% | Shares |
| VANGUARD GROUP INC | $191,520 | 122,769 | 3.90% | Shares |
| Westside Investment Management, Inc. | $176,535 | 108,300 | 3.59% | Shares |
| CITADEL ADVISORS LLC | $173,157 | 106,231 | 3.52% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $170,783 | 104,775 | 3.47% | Shares |
| STATE STREET CORP | $152,182 | 93,363 | 3.10% | Shares |
| UBS Group AG | $141,839 | 87,018 | 2.89% | Shares |
| JANE STREET GROUP, LLC | $139,808 | 85,772 | 2.84% | Shares |
| IEQ CAPITAL, LLC | $134,288 | 82,385 | 2.73% | Shares |
| GOLDMAN SACHS GROUP INC | $101,792 | 62,449 | 2.07% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $86,390 | 53,000 | 1.76% | Call option |
| Laird Norton Wetherby Trust Company, LLC | $84,760 | 52,000 | 1.72% | Shares |
| Nuveen Asset Management, LLC | $77,139 | 16,518 | 1.57% | Shares |
| Focus Partners Advisor Solutions, LLC | $70,996 | 43,556 | 1.44% | Shares |
| WOLVERINE TRADING, LLC | $70,263 | 33,300 | 1.43% | Put option |
| PNC Financial Services Group, Inc. | $67,055 | 41,138 | 1.36% | Shares |
| Qube Research & Technologies Ltd | $66,460 | 40,773 | 1.35% | Shares |
| Mariner, LLC | $65,721 | 40,320 | 1.34% | Shares |
| WOLVERINE TRADING, LLC | $61,597 | 29,193 | 1.25% | Shares |
| NORTHERN TRUST CORP | $61,402 | 37,670 | 1.25% | Shares |
| XTX Topco Ltd | $57,801 | 35,461 | 1.18% | Shares |
| FMR LLC | $54,913 | 33,689 | 1.12% | Shares |
| RENAISSANCE TECHNOLOGIES LLC | $48,411 | 29,700 | 0.98% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $46,944 | 28,800 | 0.95% | Put option |
| Cerity Partners LLC | $44,595 | 27,359 | 0.91% | Shares |
| Abel Hall, LLC | $40,031 | 24,559 | 0.81% | Shares |
| WEALTH ENHANCEMENT ADVISORY SERVICES, LLC | $39,671 | 20,449 | 0.81% | Shares |
| Bank of New York Mellon Corp | $32,580 | 19,988 | 0.66% | Shares |
| StoneX Group Inc. | $30,614 | 21,513 | 0.62% | Shares |
| MERCER GLOBAL ADVISORS INC /ADV | $29,029 | 17,809 | 0.59% | Shares |
| Modera Wealth Management, LLC | $28,648 | 17,575 | 0.58% | Shares |
| WOLVERINE TRADING, LLC | $27,852 | 13,200 | 0.57% | Call option |
| CITADEL ADVISORS LLC | $27,384 | 16,800 | 0.56% | Call option |
| LMR Partners LLP | $27,058 | 16,600 | 0.55% | Shares |
| Point72 Asset Management, L.P. | $27,021 | 16,577 | 0.55% | Shares |
| Squarepoint Ops LLC | $26,150 | 16,043 | 0.53% | Shares |
| Russell Investments Group, Ltd. | $25,095 | 15,396 | 0.51% | Shares |
| Arax Advisory Partners | $23,744 | 14,567 | 0.48% | Shares |
| BARCLAYS PLC | $21,728 | 13,330 | 0.44% | Shares |
| LPL Financial LLC | $20,932 | 12,842 | 0.43% | Shares |
| HighTower Advisors, LLC | $20,642 | 12,664 | 0.42% | Shares |
| Creative Planning | $18,460 | 11,325 | 0.38% | Shares |
| OSAIC HOLDINGS, INC. | $18,419 | 11,300 | 0.37% | Shares |
| CAPTRUST FINANCIAL ADVISORS | $18,311 | 11,234 | 0.37% | Shares |
| Scientech Research LLC | $17,087 | 10,483 | 0.35% | Shares |
| Beacon Pointe Advisors, LLC | $16,900 | 10,368 | 0.34% | Shares |
| DAVENPORT & Co LLC | $16,300 | 10,000 | 0.33% | Shares |
| CWM, LLC | $14,826 | 13,120 | 0.30% | Shares |
| RHUMBLINE ADVISERS | $14,247 | 8,741 | 0.29% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $12,349 | 7,576 | 0.25% | Shares |
| BlackRock, Inc. | $9,087 | 5,575 | 0.18% | Shares |
| ROYAL BANK OF CANADA | $7,000 | 4,030 | 0.14% | Shares |
| BNP PARIBAS FINANCIAL MARKETS | $4,460 | 2,736 | 0.09% | Shares |
| Rockefeller Capital Management L.P. | $4,075 | 2,500 | 0.08% | Shares |
| Leonteq Securities AG | $4,075 | 2,500 | 0.08% | Shares |
| AQR CAPITAL MANAGEMENT LLC | $3,912 | 2,400 | 0.08% | Shares |
| Integrated Wealth Concepts LLC | $3,602 | 2,210 | 0.07% | Shares |
| NATIONAL BANK OF CANADA /FI/ | $3,280 | 2,000 | 0.07% | Shares |
| SBI Securities Co., Ltd. | $2,601 | 1,596 | 0.05% | Shares |
| Allworth Financial LP | $2,023 | 1,241 | 0.04% | Shares |
| Essential Partners LLC | $1,454 | 892 | 0.03% | Shares |
| GAMMA Investing LLC | $1,351 | 829 | 0.03% | Shares |
| JPMORGAN CHASE & CO | $873 | 539 | 0.02% | Shares |
| GROUP ONE TRADING LLC | $804 | 493 | 0.02% | Shares |
| Federation des caisses Desjardins du Quebec | $652 | 400 | 0.01% | Shares |
| Farther Finance Advisors, LLC | $602 | 370 | 0.01% | Shares |
| Cornerstone Planning Group LLC | $559 | 304 | 0.01% | Shares |
| ROTHSCHILD INVESTMENT LLC | $505 | 310 | 0.01% | Shares |
| True Wealth Design, LLC | $475 | 291 | 0.01% | Shares |
| IFP Advisors, Inc | $339 | 208 | 0.01% | Shares |
| Keating Financial Advisory Services, Inc. | $326 | 200 | 0.01% | Shares |
| RAYMOND JAMES FINANCIAL INC | $264 | 162 | 0.01% | Shares |
| MORGAN STANLEY | $196 | 120 | 0.00% | Shares |
| Dauntless Investment Group, LLC | $163 | 100 | 0.00% | Shares |
| CITIGROUP INC | $160 | 98 | 0.00% | Shares |
| HRT FINANCIAL LP | $137 | 84,358 | 0.00% | Shares |
| GSA CAPITAL PARTNERS LLP | $134 | 81,991 | 0.00% | Shares |
| Fortitude Family Office, LLC | $129 | 79 | 0.00% | Shares |
| Virtu Financial LLC | $123 | 75,212 | 0.00% | Shares |
| EverSource Wealth Advisors, LLC | $104 | 64 | 0.00% | Shares |
| WELLS FARGO & COMPANY/MN | $90 | 55 | 0.00% | Shares |
| Wealth Enhancement Trust Services, Inc. | $68 | 42 | 0.00% | Shares |
| SJS Investment Consulting Inc. | $67 | 41 | 0.00% | Shares |
| US BANCORP \DE\ | $41 | 25 | 0.00% | Shares |
| Sunbelt Securities, Inc. | $38 | 34 | 0.00% | Shares |
| SIMPLEX TRADING, LLC | $37 | 23 | 0.00% | Shares |
| Clearstead Advisors, LLC | $28 | 17 | 0.00% | Shares |
| Caitong International Asset Management Co., Ltd | $28 | 17 | 0.00% | Shares |
| JPL Wealth Management, LLC | $10 | 6 | 0.00% | Shares |
| TrinityBridge Ltd | $3 | 2,000 | 0.00% | Shares |
Company insiders 10 insiders · 4 officers · 7 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| David J Moss | Chief Executive Officer | July 2, 2026 X | 1,294,883 | 0 | 0 | $0 |
| Raymond Joseph Tesi | President and CEO | Dec. 5, 2024 A | 1,554,106 | 0 | 0 | $0 |
| Cory Randall Ellspermann | CFO | Dec. 1, 2025 A | — | 0 | 0 | $0 |
| Mark William Lowdell | Chief Scientific Officer | July 2, 2026 X | 1,518,017 | 0 | 0 | $0 |
| Scott Juda | Director | July 2, 2026 X | 86,404 | 0 | 0 | $0 |
| James Kelly Ganjei | Director | Dec. 1, 2025 A | 17,793 | 0 | 0 | $0 |
| Timothy J Schroeder | Director | Dec. 1, 2025 A | 82,187 | 0 | 0 | $0 |
| Marcia Allen | Director | Dec. 1, 2025 A | — | 0 | 0 | $0 |
| Edgardo Baracchini Jr | Director | May 14, 2024 A | — | 0 | 0 | $0 |
| Linda F Powers | 10% owner | Jan. 27, 2020 S | 210,000 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
Activists & 5%+ owners 3 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 Lowdell ×3 filings | April 21, 2022 | — | Initial filing | — | SEC |
| David J. Moss ×3 filings | April 21, 2022 | — | Initial filing | — | SEC |
| Raymond J. Tesi ×3 filings | April 21, 2022 | — | 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 8 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 |
|---|---|---|---|---|
| RSSL · Global X Funds | 0.00% | 9,449 NS | April 30, 2026 | N-PORT |
| ITWO · ProShares Trust | 0.00% | 1,048 NS | May 31, 2026 | N-PORT |
| UWM · ProShares Trust | 0.00% | 820 NS | May 31, 2026 | N-PORT |
| URTY · ProShares Trust | 0.00% | 829 NS | May 31, 2026 | N-PORT |
| HDG · ProShares Trust | 0.00% | 21 NS | May 31, 2026 | N-PORT |
| VXF · VANGUARD INDEX FUNDS | — | — | July 15, 2026 | Daily |
| VTI · VANGUARD INDEX FUNDS | — | — | July 15, 2026 | Daily |
| IWC · iShares Trust | — | — | Aug. 18, 2026 | Daily |