IRWD Ironwood Pharmaceuticals, Inc. - Class A Common Stock
$4.17
Price · Aug 24, 2026
Fundamentals as of Aug 6, 2026
52W Range
$1–$6
66% of range
Analyst Rating
BUY
10 analysts
Price Target
$6
+46% upside
P/E (TTM)
27.8
ROE
-8.5%
Net Profit Margin
8.1%
About Ironwood Pharmaceuticals, Inc. - Class A Common Stock Company overview from Wikipedia
Ironwood Pharmaceuticals, Inc. is a publicly traded pharmaceutical company. It was originally called Microbia, Inc.
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Ironwood Pharmaceuticals, Inc. is a publicly traded pharmaceutical company. It was originally called Microbia, Inc.
Microbia was founded by postdocs from the lab of Gerald Fink at the Whitehead Institute to commercialize approaches that had been developed in the lab to improve industrial fermentation of fungi, to genetically engineer them to produce secondary metabolites more efficiently or to produce new ones as leads for drug discovery or as products for use in industry, and to identify drug targets in fungi for antifungal drug discovery. In 2002 the company hired John Talley to lead their antifungal drug discovery efforts, which at the time were focused on identifying small molecules that could inhibit fungal invasins, along with Mark Currie who had also worked at Searle division of Monsanto with Talley, and then had gone to Sepracor, and also Richard Bailey, who had run Monsanto's nutritional business. Currie directed the efforts that led to the discovery of linaclotide, which was based on an enterotoxin produced by some strains of Escherichia coli that cause traveler’s diarrhea.
By 2004 the company had raised $99M and was preparing a Phase I trial for linaclotide. By 2006 Microbia was starting to struggle with the different challenges and expenses of drug development, along with its industrial fermentation business and drug discovery efforts, and made the decision to split in two, with "Microbia Precision Engineering" focused on industrial applications led by Bailey and Microbia focused on drug discovery and development. Tate & Lyle invested $7M in the Microbia spinout and took a board seat in 2006. Microbia changed its name to Ironwood in 2008 and shortened the name of the industrial business to Microbia.
By 2009, Ironwood had raised a total of $281M. In early 2010 Ironwood held its IPO, which priced at $11.25 a share, below the target price of $14. Later that year it sold its interests in Microbia to DSM for an undisclosed sum.
Linaclotide (Linzess in the US and Mexico, and as Constella elsewhere), a drug used to treat irritable bowel syndrome with constipation and chronic constipation with no known cause, was approved in the US and Europe in 2012. Most of the marketing rights were licensed to Allergan and Astellas.
It was developing a drug called IW-9179 or recanaclotide but abandoned it in 2016.
Soclenicant (BNC-210; IW-2143) is an anxiolytic that Ironwood licensed and performed R&D on and then abandoned.
In April 2018, the shares of Ironwood Pharmaceuticals closed up more than 10 percent on the news of biotech activist investor, Alex Denner joining its board.
Despite having a billion dollar drug in Linzess, Ironwood - through a series of confounding decisions by management - has seen its stock price crater from a high of $21.16 on July 17, 2018, to its current price of 77 CENTS at the close of trading on August 1, 2025.
== References ==
Source: Wikipedia, CC BY-SA 4.0 · View on Wikipedia ↗
IRWD Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$4.17
Market Cap
$679M
P/E (TTM)
27.8
EPS (TTM)
$0.15
Revenue (TTM)
$296M
Div Yield
—
ROE
-8.5%
Debt/Equity
—
52W Range
$1 – $6
IRWD 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
$296M
2016-12-31
→
2025-12-31
EPS
$0.15
2018-12-31
→
2025-12-31
Free Cash Flow
$127M
2016-12-31
→
2025-12-31
Margins
8.1%
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Metric
5Y trend
IRWD
Peer Median
P/E (TTM)
27.8
70.4
P/S (TTM)
2.3
8.3
P/B
-2.6
2.2
Price / FCF
5.3
—
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Metric
5Y trend
IRWD
Peer Median
Operating Margin
33.3%
—
Net Profit Margin
8.1%
-330.2%
ROA
6.4%
-35.6%
ROE
-8.5%
-37.4%
ROIC
-12.9%
—
Financial Health Debt, liquidity, solvency — balance sheet strength
Metric
5Y trend
IRWD
Peer Median
Current Ratio
1.1
7.1
Quick Ratio
1.1
—
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Metric
5Y trend
IRWD
Peer Median
Revenue YoY
-15.7%
—
Revenue CAGR 3Y
-10.3%
—
Revenue CAGR 5Y
-5.3%
—
EPS YoY
1400.0%
—
Net Income YoY
2629.2%
—
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
Metric
5Y trend
IRWD
Peer Median
IRWD Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
BUY
10 analysts
- Strong Buy 2 20.0%
- Buy 5 50.0%
- Hold 3 30.0%
- Sell 0 0.0%
- Strong Sell 0 0.0%
12-Month Price Target
4 analysts · 2026-08-19
Median
$5.35
Mean
$6.10
Now
$4.17
Low
$3.70
High
$10.00
Median target
$5.35
+28.5%
Mean target
$6.10
+46.5%
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
0.01%
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| June 30, 2026 | $0.31 | $0.36 | -0.05% |
| March 31, 2026 | $0.24 | $0.24 | -0.00% |
| Dec. 31, 2025 | $-0.01 | $0.01 | -0.02% |
| Sept. 30, 2025 | $0.24 | $0.10 | 0.14% |
| June 30, 2025 | $0.14 | $0.04 | 0.10% |
| March 31, 2025 | $-0.14 | $-0.05 | -0.09% |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| IRWD | $550M | 22.5 | -15.7% | 8.1% | -8.5% | — |
| RGNX | $733M | -3.8 | 104.5% | -113.8% | -122.5% | — |
| MNPR | — | — | — | — | — | — |
| ASMB | $539M | -61.8 | 153.5% | -8.5% | -5.5% | — |
| EIKN | — | — | — | — | — | — |
| SGMT | — | -3.7 | — | — | -42.3% | — |
| MDXG | $1.00B | 21.2 | 20.0% | 11.6% | 20.5% | 82.6% |
| PRME | $626M | -2.6 | 55.3% | -4342.4% | -221.4% | — |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement 16
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $296M | $351M | $443M | $411M | $414M | $390M | $428M | $347M | $298M | $274M | $150M | $76M | |
| Cost of Revenue | · | · | · | · | · | $3M | $24M | $33M | $19M | $2M | $12.0K | $5M | |
| R&D Expense | $95M | $111M | $116M | $44M | $70M | $88M | $115M | $101M | $88M | $139M | $109M | $102M | |
| SG&A Expense | $82M | $144M | $158M | $116M | $111M | $140M | $172M | $220M | $231M | $173M | $125M | $118M | |
| Operating Expenses | $198M | $258M | $1.39B | $160M | $181M | $247M | $308M | $497M | $314M | $326M | $252M | $246M | |
| Operating Income | $99M | $93M | $-945M | $250M | $232M | $143M | $120M | $-151M | $-15M | $-52M | $-102M | $-169M | |
| Interest Expense | · | · | $22M | $8M | $31M | $29M | $37M | $38M | $36M | $39M | $31M | $21M | |
| Other Non-op | $193.0K | $640.0K | $-3M | $2M | $-32M | $-34M | $-61M | $-43M | $-40M | $-30M | $-41M | $-20M | |
| Pretax Income | $70M | $65M | $-948M | $252M | $201M | $109M | $59M | $-194M | · | · | · | · | |
| Income Tax | $46M | $64M | $83M | $77M | $-328M | $3M | $0 | $0 | $0 | $0 | $0 | $0 | |
| Net Income | $24M | $880.0K | $-1.00B | $175M | $528M | $106M | $22M | $-282M | $-117M | $-82M | $-143M | · | |
| EPS (Basic) | $0.15 | $0.01 | $-6.45 | $1.13 | $3.26 | $0.67 | $0.14 | $-1.85 | · | · | · | · | |
| EPS (Diluted) | $0.15 | $0.01 | $-6.45 | $0.96 | $3.21 | $0.66 | $0.14 | $-1.85 | · | · | · | · | |
| Shares (Basic) | 161,842,000 | 159,083,000 | 155,435,000 | 154,366,000 | 162,245,000 | 159,427,000 | 156,023,000 | 152,634,000 | · | · | · | · | |
| Shares (Diluted) | 162,983,000 | 160,084,000 | 155,435,000 | 186,312,000 | 164,418,000 | 160,655,000 | 156,023,000 | 152,634,000 | · | · | · | · | |
| EBITDA | $100M | $94M | $-944M | $252M | $234M | $145M | $126M | $-233M | · | $-42M | $-90M | $-157M |
Balance Sheet 28
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $215M | $89M | $92M | $656M | $620M | $363M | $177M | $173M | $126M | $54M | $261M | $74M | |
| Short-term Investments | · | · | · | · | · | · | · | · | $96M | $251M | $178M | $174M | |
| Receivables | $47M | $82M | $129M | $115M | $114M | $122M | $11M | $21M | $3M | $933.0K | $3M | $10.0K | |
| Inventory | · | · | · | · | · | · | $648.0K | · | $735.0K | $1M | · | $5M | |
| Prepaid Expense | $12M | $12M | $12M | $8M | $9M | $9M | $11M | $10M | $7M | $9M | $6M | $9M | |
| Current Assets | $274M | $182M | $233M | $781M | $745M | $496M | $307M | $266M | $312M | $380M | $500M | $288M | |
| PP&E (Net) | $3M | $4M | $6M | $6M | $8M | $9M | $12M | $8M | $17M | $21M | $21M | $30M | |
| PP&E (Gross) | $11M | $13M | $14M | $17M | $17M | $21M | $23M | $33M | $86M | $83M | $78M | $83M | |
| Accum. Depreciation | $8M | $8M | $9M | $11M | $10M | $12M | $10M | $26M | $69M | $62M | $57M | $53M | |
| Goodwill | · | · | · | · | · | · | $785.0K | $785.0K | $785.0K | $785.0K | · | · | |
| Intangibles | $2M | $3M | $4M | · | · | · | · | · | $160M | $166M | · | · | |
| Other Non-current Assets | $5M | $6M | $4M | $847.0K | $1M | $943.0K | $790.0K | $89.0K | $870.0K | $1M | $3M | $3M | |
| Total Assets | $397M | $351M | $471M | $1.10B | $1.13B | $559M | $403M | $332M | $606M | $710M | $619M | $329M | |
| Accounts Payable | $3M | $2M | $8M | $483.0K | $935.0K | $661.0K | $4M | $15M | $16M | $18M | $9M | $10M | |
| Accrued Liabilities | · | · | · | · | · | · | · | · | · | $38M | $23M | $23M | |
| Short-term Debt | · | · | · | · | · | · | · | $48M | · | · | $25M | $11M | |
| Current Liabilities | $242M | $39M | $276M | $26M | $162M | $32M | $41M | $120M | $66M | $91M | $76M | $61M | |
| Capital Leases | $10M | $12M | $15M | $17M | $18M | $20M | $22M | $158.0K | · | $82.0K | $306.0K | $3M | |
| Other Non-current Liabilities | $22M | $17M | $28M | $10M | $4M | $2M | $734.0K | $3M | $5M | $8M | $10M | · | |
| Total Liabilities | $659M | · | · | · | · | · | · | · | · | · | · | · | |
| Long-term Debt | · | $199M | $398M | $396M | $454M | $430M | · | · | · | · | $221M | · | |
| Total Debt | · | · | · | · | · | · | · | $48M | · | · | $25M | $11M | |
| Common Stock | $163.0K | $160.0K | $156.0K | $154.0K | $162.0K | $161.0K | $158.0K | $154.0K | · | · | · | · | |
| Retained Earnings | $-1.67B | $-1.70B | $-1.70B | $-696M | $-938M | $-1.47B | $-1.57B | $-1.59B | $-1.31B | $-1.19B | $-1.11B | $-967M | |
| AOCI | $-1M | $923.0K | $-3M | · | · | · | · | · | $-79.0K | $-7.0K | $-86.0K | $-19.0K | |
| Stockholders' Equity | $-262M | $-301M | $-346M | $652M | $606M | $63M | $-93M | $-196M | $10M | $67M | $95M | $89M | |
| Liabilities + Equity | $397M | $351M | $471M | $1.10B | $1.13B | $559M | $403M | $332M | $606M | $710M | $619M | $329M | |
| Shares Outstanding | 163,058,316 | 160,205,899 | 156,354,238 | 154,026,949 | 162,036,461 | 160,616,675 | 157,535,962 | 154,414,691 | · | · | · | · |
Cash Flow 18
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $1M | $1M | $1M | $1M | $2M | $2M | $6M | $4M | $6M | $10M | $12M | $12M | |
| Stock-based Comp | $17M | $30M | $32M | $27M | $22M | $31M | $31M | $41M | $31M | $29M | $25M | $26M | |
| Deferred Tax | $41M | $68M | $73M | $66M | $-333M | · | · | · | · | · | · | · | |
| Amort. of Intangibles | · | · | · | · | · | · | · | $8M | $6M | $981.0K | · | · | |
| Restructuring | $21M | $3M | $17M | · | $1M | $15M | $4M | $15M | · | · | · | $551.0K | |
| Other Non-cash | $44M | $4M | $1.08B | $5M | $43M | $29M | $-48M | $161M | · | · | · | · | |
| Operating Cash Flow | $127M | $104M | $183M | $274M | $262M | $169M | $11M | $-71M | $-101M | $-26M | $-107M | $-156M | |
| CapEx | $34.0K | $142.0K | $273.0K | $136.0K | $265.0K | $2M | $7M | $351.0K | $3M | $4M | $4M | $4M | |
| Investing Cash Flow | $-34.0K | $-142.0K | $-1.03B | $-136.0K | $-265.0K | $-2M | $-11M | $89M | $151M | $-178M | $-9M | $-57M | |
| Debt Issued | · | · | · | · | · | · | · | · | $146M | · | · | · | |
| Stock Issued | · | · | · | · | · | · | · | · | · | · | · | $190M | |
| Stock Repurchased | · | · | · | $126M | $24M | · | · | · | · | · | · | · | |
| Net Stock Activity | · | · | · | $-126M | $-24M | · | · | · | · | · | · | $190M | |
| Financing Cash Flow | $216.0K | $-107M | $277M | $-238M | $-5M | $19M | $-1M | $30M | $20M | $-4M | $303M | $211M | |
| Net Change in Cash | $127M | $-4M | $-566M | $36M | $257M | $186M | $-2M | $48M | $71M | $-208M | $187M | · | |
| Taxes Paid | $4M | $8M | $10M | $5M | $3M | $2M | · | · | · | · | · | · | |
| Free Cash Flow | $127M | $103M | $183M | $274M | $262M | $167M | $4M | $-80M | · | $-30M | $-111M | $-159M | |
| Levered FCF | · | · | $160M | $268M | $180M | $138M | · | · | · | · | · | · |
Profitability 7
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | 33.3% | 26.5% | -213.5% | 61.0% | 56.1% | 36.7% | 28.0% | -68.9% | · | -18.9% | -68.3% | -221.6% | |
| Net Margin | 8.1% | 0.25% | -226.4% | 42.6% | 127.7% | 27.3% | 5.0% | -81.5% | · | · | · | · | |
| Pretax Margin | 23.6% | 18.6% | -214.1% | 61.5% | 48.5% | 28.0% | · | · | · | · | · | · | |
| EBITDA Margin | 33.6% | 26.8% | -213.3% | 61.3% | 56.5% | 37.3% | 29.3% | -67.2% | · | -15.2% | -60.5% | -205.4% | |
| ROA | 6.4% | 0.21% | -127.5% | 15.7% | 62.7% | 22.1% | 5.9% | -60.2% | · | · | · | · | |
| ROE | -8.5% | -0.27% | -654.9% | 29.9% | 94.6% | 309.8% | -17.5% | 143.5% | · | · | · | · | |
| ROIC | -12.9% | -0.42% | 297.1% | 26.6% | 101.0% | 222.6% | · | · | · | · | · | · |
Liquidity & Solvency 4
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.1 | 4.7 | 0.8 | 30.6 | 4.6 | 15.4 | 7.5 | 2.2 | · | 4.2 | 6.5 | 4.8 | |
| Quick Ratio | 1.1 | 4.4 | 0.8 | 30.2 | 4.5 | 15.1 | 4.6 | 1.6 | · | 3.4 | 5.8 | 4.1 | |
| Debt / Equity | · | · | · | · | · | · | · | -0.2 | · | · | 0.3 | 0.1 | |
| Interest Coverage | · | · | -43.7 | 32.9 | 7.5 | 4.8 | 3.3 | -6.3 | · | -1.3 | -3.3 | -8.0 |
Efficiency 3
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.8 | 0.9 | 0.6 | 0.4 | 0.5 | 0.8 | 1.2 | 0.7 | · | 0.4 | 0.3 | 0.2 | |
| Inventory Turnover | · | · | · | · | · | · | 34.5 | · | · | 3.5 | · | 1.9 | |
| Receivables Turnover | 4.6 | 3.3 | 3.6 | 3.6 | 3.5 | 5.8 | 26.6 | 28.7 | · | 143.5 | 103.4 | 292.3 |
Growth Rates 9
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue YoY | -15.7% | -20.6% | 7.8% | -0.76% | 6.2% | · | · | · | · | · | · | · | |
| Revenue CAGR 3Y | -10.3% | -5.3% | 4.4% | · | · | · | · | · | · | · | · | · | |
| Revenue CAGR 5Y | -5.3% | · | · | · | · | · | · | · | · | · | · | · | |
| EPS YoY | 1400.0% | · | · | -70.1% | 386.4% | · | · | · | · | · | · | · | |
| EPS CAGR 3Y | -46.1% | -85.4% | · | · | · | · | · | · | · | · | · | · | |
| EPS CAGR 5Y | -25.7% | · | · | · | · | · | · | · | · | · | · | · | |
| Net Income YoY | 2629.2% | · | · | -66.9% | 397.7% | · | · | · | · | · | · | · | |
| Net Income CAGR 3Y | -48.4% | -88.1% | · | · | · | · | · | · | · | · | · | · | |
| Net Income CAGR 5Y | -25.7% | · | · | · | · | · | · | · | · | · | · | · |
Valuation (TTM) 10
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $296M | $351M | $443M | $411M | $414M | $390M | $428M | $347M | $298M | $274M | $150M | $76M | |
| Net Income TTM | $24M | $880.0K | $-1.00B | $175M | $528M | $106M | $22M | $-282M | $-117M | $-82M | $-143M | · | |
| Market Cap | $550M | $710M | $1.79B | $1.91B | $1.89B | $1.83B | $2.10B | · | · | · | · | · | |
| P/E | 22.5 | 443.0 | -1.8 | 12.9 | 3.6 | 17.3 | 95.1 | -4.7 | -5.3 | -5.4 | -4.1 | -5.4 | |
| P/S | 1.9 | 2.0 | 4.0 | 4.6 | 4.6 | 4.7 | 4.9 | · | · | · | · | · | |
| P/B | -2.1 | -2.4 | -5.2 | 2.9 | 3.1 | 29.2 | -22.5 | · | · | · | · | · | |
| P / Tangible Book | · | · | · | 2.9 | 3.1 | 29.2 | · | · | · | · | · | · | |
| P / Cash Flow | 4.3 | 6.9 | 9.8 | 7.0 | 7.2 | 10.8 | 195.5 | · | · | · | · | · | |
| P / FCF | 4.3 | 6.9 | 9.8 | 7.0 | 7.2 | 11.0 | 593.0 | · | · | · | · | · | |
| Earnings Yield | 4.5% | 0.23% | -56.4% | 7.8% | 27.5% | 5.8% | 1.1% | -21.3% | -19.0% | -18.6% | -24.5% | -18.6% |
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 | $113M | $107M | $48M | $122M | $85M | $41M | $91M | $92M | $94M | $75M | $118M | $114M | $107M | $104M | $107M | $109M | |
| R&D Expense | $22M | $22M | $22M | $22M | $23M | $27M | $25M | $30M | $30M | $26M | $36M | $33M | $35M | $13M | $10M | $12M | |
| SG&A Expense | $11M | $12M | $19M | $22M | $17M | $24M | $34M | $36M | $37M | $38M | $39M | $36M | $52M | $31M | $28M | $29M | |
| Operating Expenses | $34M | $34M | $41M | $47M | $40M | $70M | $59M | $66M | $69M | $64M | $80M | $74M | $1.19B | $44M | $39M | $40M | |
| Operating Income | $79M | $73M | $7M | $75M | $45M | $-29M | $31M | $26M | $25M | $11M | $38M | $40M | $-1.08B | $60M | $68M | $68M | |
| Interest Expense | · | · | · | · | · | · | · | · | · | $7M | · | $10M | $2M | $2M | · | $2M | |
| Other Non-op | $42.0K | $42.0K | $77.0K | $40.0K | $39.0K | $37.0K | $21M | $-8M | $-6M | $-6M | $-7M | $-8M | $7M | $6M | $4M | $1M | |
| Pretax Income | $74M | $65M | $455.0K | $68M | $38M | $-36M | $24M | $17M | $19M | $5M | $30M | $32M | $-1.08B | $66M | $72M | $70M | |
| Income Tax | $22M | $24M | $3M | $28M | $14M | $1M | $22M | $14M | $20M | $9M | $32M | $18M | $13M | $20M | $23M | $20M | |
| Net Income | $51M | $41M | $-2M | $40M | $24M | $-37M | $2M | $4M | $-860.0K | $-4M | $-1M | $15M | $-1.06B | $46M | $49M | $50M | |
| EPS (Basic) | $0.31 | $0.25 | $-0.01 | $0.25 | $0.15 | $-0.23 | $0.01 | $0.02 | $-0.01 | $-0.03 | $-0.01 | $0.10 | $-6.84 | $0.30 | $0.31 | $0.33 | |
| EPS (Diluted) | $0.31 | $0.24 | $-0.01 | $0.23 | $0.14 | $-0.23 | $0.01 | $0.02 | $-0.01 | $-0.03 | $-0.01 | $0.09 | $-6.84 | $0.25 | $0.26 | $0.28 | |
| Shares (Basic) | 164,405,000 | 163,451,000 | -323,070,000 | 162,215,000 | 161,723,000 | 160,974,000 | -317,337,000 | 159,706,000 | 159,014,000 | 157,700,000 | -310,270,000 | 155,886,000 | 155,367,000 | 154,452,000 | -309,825,000 | 153,066,000 | |
| Shares (Diluted) | 167,179,000 | 166,690,000 | -352,592,000 | 177,764,000 | 176,837,000 | 160,974,000 | -316,862,000 | 160,232,000 | 159,014,000 | 157,700,000 | -373,503,000 | 186,891,000 | 155,367,000 | 186,680,000 | -372,569,000 | 184,465,000 | |
| EBITDA | $79M | $73M | · | $75M | $45M | $-29M | · | $26M | $25M | $11M | · | $40M | $-1.08B | $60M | · | $68M |
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 | $79M | $220M | $215M | $140M | $93M | $108M | $89M | $88M | $106M | $122M | $92M | $110M | $175M | $740M | $656M | $574M | |
| Receivables | $113M | $106M | $47M | $120M | $86M | $40M | $82M | $76M | $58M | $72M | $129M | $125M | $119M | $116M | · | $117M | |
| Prepaid Expense | $7M | $6M | $12M | $13M | $13M | $12M | $12M | $14M | $15M | $15M | $12M | $18M | $22M | $9M | · | $7M | |
| Current Assets | $199M | $332M | $274M | $274M | $192M | $161M | $182M | $179M | $178M | $208M | $233M | $254M | $318M | $866M | · | $699M | |
| PP&E (Net) | $3M | $3M | $3M | $4M | $4M | $4M | $4M | $5M | $5M | $5M | $6M | $6M | $6M | $6M | · | $7M | |
| PP&E (Gross) | · | · | $11M | · | · | · | $13M | · | · | · | $14M | · | · | · | · | · | |
| Accum. Depreciation | · | · | $8M | · | · | · | $8M | · | · | · | $9M | · | · | · | · | · | |
| Intangibles | $2M | $2M | $2M | $2M | $2M | $3M | $3M | $3M | $3M | $3M | $4M | $4M | $4M | · | · | · | |
| Other Non-current Assets | $4M | $4M | $5M | $5M | $5M | $6M | $6M | $6M | $4M | $3M | $4M | $4M | $4M | $820.0K | · | $863.0K | |
| Total Assets | $285M | $435M | $397M | $396M | $343M | $327M | $351M | $390M | $396M | $439M | $471M | $524M | $603M | $1.16B | · | $1.04B | |
| Accounts Payable | $911.0K | $3M | $3M | $2M | $1M | $6M | $2M | $3M | $3M | $6M | $8M | $5M | $4M | $118.0K | · | $795.0K | |
| Current Liabilities | $33M | $236M | $242M | $243M | $233M | $48M | $39M | $49M | $46M | $252M | $276M | $281M | $305M | $24M | · | $27M | |
| Capital Leases | $9M | $9M | $10M | $10M | $11M | $12M | $12M | $13M | $13M | $14M | $15M | $15M | $16M | $16M | · | $17M | |
| Other Non-current Liabilities | $21M | $21M | $22M | $22M | $22M | $17M | $17M | $40M | $35M | $29M | $28M | $31M | $31M | $12M | · | $9M | |
| Total Liabilities | $447M | · | · | · | · | · | · | · | · | · | · | · | · | · | · | · | |
| Long-term Debt | · | · | · | $200M | $199M | $199M | · | $199M | $199M | $398M | · | $397M | $397M | $397M | · | $396M | |
| Common Stock | $165.0K | $165.0K | $163.0K | $163.0K | $162.0K | $162.0K | $160.0K | $160.0K | $160.0K | $159.0K | $156.0K | $156.0K | $156.0K | $155.0K | · | $153.0K | |
| Retained Earnings | $-1.58B | $-1.63B | $-1.67B | $-1.67B | $-1.71B | $-1.74B | $-1.70B | $-1.70B | $-1.70B | $-1.70B | $-1.70B | $-1.70B | $-1.71B | $-651M | · | $-745M | |
| AOCI | $-324.0K | $-795.0K | $-1M | $-2M | $-2M | $294.0K | $923.0K | $-2M | $-470.0K | $-922.0K | $-3M | $-752.0K | · | · | · | · | |
| Stockholders' Equity | $-162M | $-217M | $-262M | $-264M | $-308M | $-334M | $-301M | $-311M | $-322M | $-331M | $-346M | $-323M | $-346M | $707M | · | $591M | |
| Liabilities + Equity | $285M | $435M | $397M | $396M | $343M | $327M | $351M | $390M | $396M | $439M | $471M | $524M | $603M | $1.16B | · | $1.04B | |
| Shares Outstanding | 165,239,947 | 164,613,406 | 163,058,316 | 162,678,647 | 162,434,130 | 161,809,432 | 160,205,899 | 160,015,888 | 159,739,001 | 158,957,123 | 156,354,238 | 156,125,676 | 156,027,648 | 155,346,103 | · | 153,319,417 |
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock-based Comp | $3M | $4M | $4M | $4M | $5M | $5M | $5M | $8M | $9M | $8M | $9M | $8M | $8M | $7M | $7M | $7M | |
| Deferred Tax | · | · | · | · | · | · | · | · | · | · | · | · | · | · | $20M | $16M | |
| Restructuring | · | · | · | · | · | · | · | · | · | · | $639.0K | $5M | · | · | · | · | |
| Operating Cash Flow | $58M | $5M | $75M | $48M | $-15M | $20M | $15M | $10M | $33M | $45M | $36M | $32M | $35M | $80M | $79M | $69M | |
| CapEx | · | · | $-1.0K | $2.0K | $2.0K | $31.0K | $0 | $16.0K | $58.0K | $68.0K | $211.0K | $49.0K | $0 | $13.0K | $-27.0K | $66.0K | |
| Investing Cash Flow | · | · | $1.0K | $-2.0K | $-2.0K | $-31.0K | $0 | $-16.0K | $-58.0K | $-68.0K | $-4M | $-23M | $-999M | $-13.0K | $27.0K | $-66.0K | |
| Stock Repurchased | · | · | · | · | · | · | · | · | · | · | · | · | · | · | $0 | $0 | |
| Financing Cash Flow | · | · | $122.0K | $0 | $88.0K | $6.0K | $-15M | $-27M | $-49M | $-16M | $-51M | $-75M | $399M | $4M | $3M | $797.0K | |
| Net Change in Cash | $-141M | $5M | $75M | $48M | $-16M | $20M | $348.0K | $-17M | $-16M | $29M | $-19M | $-65M | $-565M | $84M | $82M | $70M | |
| Free Cash Flow | · | · | · | · | · | $20M | · | · | · | $45M | · | · | · | $80M | · | · | |
| Levered FCF | · | · | · | · | · | · | · | · | · | $51M | · | · | · | $79M | · | · |
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 | 70.2% | 68.1% | · | 61.8% | 53.2% | -70.8% | · | 28.0% | 26.5% | 14.7% | · | 35.2% | -1008.7% | 57.8% | · | 63.0% | |
| Net Margin | 45.4% | 38.3% | · | 32.8% | 27.7% | -90.9% | · | 4.0% | -0.91% | -5.6% | · | 13.5% | -989.2% | 43.9% | · | 46.3% | |
| Pretax Margin | 65.2% | 61.2% | · | 55.7% | 44.4% | -88.2% | · | 19.0% | 20.0% | 6.6% | · | 28.1% | -1002.2% | 63.3% | · | 64.3% | |
| EBITDA Margin | 70.2% | 68.1% | · | 61.8% | 53.2% | -70.8% | · | 28.0% | 26.5% | 14.7% | · | 35.2% | -1008.7% | 57.8% | · | 63.0% | |
| ROA | 16.3% | 10.7% | · | 10.2% | 6.4% | -9.8% | · | 0.80% | -0.17% | -0.52% | · | 2.0% | -131.9% | 4.3% | · | 4.8% | |
| ROE | -21.8% | -14.8% | · | -13.9% | -7.5% | 11.2% | · | -1.1% | 0.26% | -2.2% | · | 11.4% | -1279.3% | 7.4% | · | 8.6% | |
| ROIC | -34.1% | -20.9% | · | -16.8% | -9.2% | 9.0% | · | -1.7% | 0.35% | 2.8% | · | -5.4% | 317.2% | 5.9% | · | 8.3% |
Liquidity & Solvency 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 6.1 | 1.4 | · | 1.1 | 0.8 | 3.3 | · | 3.6 | 3.9 | 0.8 | · | 0.9 | 1.0 | 36.3 | · | 25.8 | |
| Quick Ratio | 5.8 | 1.4 | · | 1.1 | 0.8 | 3.1 | · | 3.3 | 3.6 | 0.8 | · | 0.8 | 1.0 | 35.9 | · | 25.5 | |
| Interest Coverage | · | · | · | · | · | · | · | · | · | 1.5 | · | 4.1 | -588.7 | 39.4 | · | 44.9 |
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 | 0.4 | 0.3 | · | 0.3 | 0.2 | 0.1 | · | 0.2 | 0.2 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | |
| Receivables Turnover | 1.1 | 1.5 | · | 1.2 | 1.2 | 0.7 | · | 0.9 | 1.1 | 0.8 | · | 0.9 | 1.0 | 1.0 | · | 1.0 |
Valuation (TTM) 10
| 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 | $389M | $362M | · | $339M | $309M | $318M | · | $378M | $401M | $414M | · | $432M | $427M | $417M | · | $421M | |
| Net Income TTM | $130M | $102M | · | $29M | $-8M | $-32M | · | $-2M | $9M | $-1.05B | · | $-952M | $-917M | $182M | · | $168M | |
| Market Cap | $696M | $578M | · | $213M | $117M | $238M | · | $659M | $1.04B | $1.38B | · | $1.50B | $1.66B | $1.63B | · | $1.59B | |
| P/E | 5.5 | 5.8 | · | 8.7 | -12.0 | -7.0 | · | -137.3 | 163.0 | -1.3 | · | -1.5 | -1.8 | 10.4 | · | 10.9 | |
| P/S | 1.8 | 1.6 | · | 0.6 | 0.4 | 0.7 | · | 1.7 | 2.6 | 3.3 | · | 3.5 | 3.9 | 3.9 | · | 3.8 | |
| P/B | -4.3 | -2.7 | · | -0.8 | -0.4 | -0.7 | · | -2.1 | -3.2 | -4.2 | · | -4.7 | -4.8 | 2.3 | · | 2.7 | |
| P / Tangible Book | · | · | · | · | · | · | · | · | · | · | · | · | · | 2.3 | · | 2.7 | |
| P / Cash Flow | · | 112.8 | · | · | · | 11.9 | · | · | · | 30.8 | · | · | · | 20.4 | · | · | |
| P / FCF | · | · | · | · | · | 11.9 | · | · | · | 30.8 | · | · | · | 20.4 | · | · | |
| Earnings Yield | 18.3% | 17.1% | · | 11.5% | -8.3% | -14.3% | · | -0.73% | 0.61% | -78.0% | · | -64.7% | -56.8% | 9.6% | · | 9.2% |
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 | $296M | $351M | $443M | $411M | $414M |
| Operating Margin % | 33.3% | 26.5% | -213.5% | 61.0% | 56.1% |
| Net Income | $24M | $880.0K | $-1.00B | $175M | $528M |
| Diluted EPS | $0.15 | $0.01 | $-6.45 | $0.96 | $3.21 |
Balance Sheet
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Current Ratio | 1.1 | 4.7 | 0.8 | 30.6 | 4.6 |
| Quick Ratio | 1.1 | 4.4 | 0.8 | 30.2 | 4.5 |
Cash Flow
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Free Cash Flow | $127M | $103M | $183M | $274M | $262M |
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Institutional owners (13F) 230 filers · $468.6M 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 |
|---|---|---|---|---|
| 25 (-34 vs prior Q) | 32 (+7 vs prior Q) | 76 (-3 vs prior Q) | 80 (+21 vs prior Q) | -16.6M |
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 |
|---|---|---|---|---|
| ARMISTICE CAPITAL, LLC | $58,653,720 | 13,932,000 | 12.52% | Shares |
| Sarissa Capital Management LP | $38,684,153 | 9,188,635 | 8.26% | Shares |
| STATE STREET CORP | $37,088,420 | 8,809,601 | 7.92% | Shares |
| RENAISSANCE TECHNOLOGIES LLC | $33,651,481 | 7,993,226 | 7.18% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $27,821,819 | 6,608,508 | 5.94% | Shares |
| BANK OF AMERICA CORP /DE/ | $25,463,128 | 6,048,249 | 5.43% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $23,211,225 | 5,513,355 | 4.95% | Shares |
| TWO SIGMA INVESTMENTS, LP | $19,181,135 | 4,556,089 | 4.09% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $18,001,965 | 4,275,108 | 3.84% | Shares |
| JACOBS LEVY EQUITY MANAGEMENT, INC | $17,117,708 | 4,065,964 | 3.65% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $13,902,439 | 3,302,242 | 2.97% | Shares |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | $12,701,945 | 3,017,089 | 2.71% | Shares |
| TWO SIGMA ADVISERS, LP | $10,582,137 | 3,140,100 | 2.26% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $10,183,788 | 2,418,952 | 2.17% | Shares |
| MACKENZIE FINANCIAL CORP | $9,967,146 | 2,367,493 | 2.13% | Shares |
| GOLDMAN SACHS GROUP INC | $8,089,418 | 1,921,477 | 1.73% | Shares |
| Connor, Clark & Lunn Investment Management Ltd. | $7,622,630 | 1,810,601 | 1.63% | Shares |
| Hillsdale Investment Management Inc. | $5,264,302 | 1,250,428 | 1.12% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $4,379,810 | 1,040,335 | 0.93% | Shares |
| MARSHALL WACE, LLP | $4,248,425 | 1,009,127 | 0.91% | Shares |
| FMR LLC | $3,818,234 | 906,944 | 0.81% | Shares |
| STATE OF WISCONSIN INVESTMENT BOARD | $3,277,548 | 778,515 | 0.70% | Shares |
| BlackRock, Inc. | $3,034,593 | 720,806 | 0.65% | Shares |
| MORGAN STANLEY | $2,899,132 | 688,630 | 0.62% | Shares |
| VICTORY CAPITAL MANAGEMENT INC | $2,772,104 | 658,457 | 0.59% | Shares |
| IEQ CAPITAL, LLC | $2,364,286 | 561,588 | 0.50% | Shares |
| Vanguard Global Advisers, LLC | $2,361,970 | 561,038 | 0.50% | Shares |
| CITADEL ADVISORS LLC | $2,115,117 | 502,403 | 0.45% | Shares |
| PRUDENTIAL FINANCIAL INC | $2,060,370 | 489,399 | 0.44% | Shares |
| WEDGE CAPITAL MANAGEMENT L L P/NC | $1,897,127 | 540,492 | 0.40% | Shares |
| O'SHAUGHNESSY ASSET MANAGEMENT, LLC | $1,847,815 | 438,911 | 0.39% | Shares |
| Inspire Investing, LLC | $1,789,893 | 509,941 | 0.38% | Shares |
| SEGALL BRYANT & HAMILL, LLC | $1,717,949 | 408,064 | 0.37% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $1,670,528 | 396,800 | 0.36% | Put option |
| Man Group plc | $1,650,813 | 392,117 | 0.35% | Shares |
| BRIDGEWAY CAPITAL MANAGEMENT, LLC | $1,641,029 | 389,793 | 0.35% | Shares |
| BNP PARIBAS ASSET MANAGEMENT Holding S.A. | $1,579,962 | 375,288 | 0.34% | Shares |
| RITHOLTZ WEALTH MANAGEMENT | $1,515,996 | 360,094 | 0.32% | Shares |
| CM Management, LLC | $1,473,500 | 350,000 | 0.31% | Shares |
| Qube Research & Technologies Ltd | $1,465,017 | 347,985 | 0.31% | Shares |
| Robeco Institutional Asset Management B.V. | $1,444,022 | 342,998 | 0.31% | Shares |
| LOS ANGELES CAPITAL MANAGEMENT LLC | $1,441,054 | 342,293 | 0.31% | Shares |
| Virtus Investment Advisers, LLC | $1,341,298 | 318,598 | 0.29% | Shares |
| CWA Asset Management Group, LLC | $1,222,441 | 290,366 | 0.26% | Shares |
| GLOBEFLEX CAPITAL L P | $1,093,796 | 259,809 | 0.23% | Shares |
| VANGUARD GROUP INC | $1,025,525 | 304,310 | 0.22% | Shares |
| CWM, LLC | $976,542 | 278,217 | 0.21% | Shares |
| Bank of New York Mellon Corp | $950,858 | 225,857 | 0.20% | Shares |
| CITIGROUP INC | $915,128 | 217,370 | 0.20% | Shares |
| WEALTH ENHANCEMENT ADVISORY SERVICES, LLC | $913,316 | 219,445 | 0.19% | Shares |
| RHUMBLINE ADVISERS | $863,439 | 205,095 | 0.18% | Shares |
| MARTINGALE ASSET MANAGEMENT L P | $863,013 | 204,991 | 0.18% | Shares |
| EVOLVE PRIVATE WEALTH, LLC | $786,697 | 186,864 | 0.17% | Shares |
| Vident Advisory, LLC | $761,711 | 180,929 | 0.16% | Shares |
| Cerity Partners LLC | $734,490 | 174,463 | 0.16% | Shares |
| KLP KAPITALFORVALTNING AS | $733,382 | 174,200 | 0.16% | Shares |
| Mariner, LLC | $709,288 | 168,472 | 0.15% | Shares |
| OMERS ADMINISTRATION Corp | $669,432 | 159,010 | 0.14% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $666,443 | 158,300 | 0.14% | Call option |
| Rafferty Asset Management, LLC | $643,616 | 152,878 | 0.14% | Shares |
| WELLINGTON MANAGEMENT GROUP LLP | $640,299 | 152,090 | 0.14% | Shares |
| Quantinno Capital Management LP | $634,043 | 150,604 | 0.14% | Shares |
| WELLS FARGO & COMPANY/MN | $626,179 | 148,736 | 0.13% | Shares |
| JPMORGAN CHASE & CO | $622,047 | 144,662 | 0.13% | Shares |
| ALLIANCEBERNSTEIN L.P. | $581,923 | 165,790 | 0.12% | Shares |
| FIFTH THIRD BANCORP | $558,869 | 132,748 | 0.12% | Shares |
| CANADA PENSION PLAN INVESTMENT BOARD | $551,089 | 130,900 | 0.12% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $544,088 | 129,237 | 0.12% | Shares |
| HSBC HOLDINGS PLC | $541,600 | 126,100 | 0.12% | Shares |
| Arax Advisory Partners | $534,526 | 126,966 | 0.11% | Shares |
| MERCER GLOBAL ADVISORS INC /ADV | $531,134 | 126,160 | 0.11% | Shares |
| JANE STREET GROUP, LLC | $526,040 | 124,950 | 0.11% | Shares |
| D. E. Shaw & Co., Inc. | $517,438 | 122,907 | 0.11% | Shares |
| Optimist Retirement Group LLC | $429,647 | 102,054 | 0.09% | Shares |
| State of Wyoming | $428,498 | 101,781 | 0.09% | Shares |
| Cercano Management LLC | $426,801 | 101,378 | 0.09% | Shares |
| AMERIPRISE FINANCIAL INC | $419,004 | 99,526 | 0.09% | Shares |
| CITADEL ADVISORS LLC | $413,843 | 98,300 | 0.09% | Put option |
| Engineers Gate Manager LP | $412,799 | 98,052 | 0.09% | Shares |
| MetLife Investment Management, LLC | $405,036 | 96,208 | 0.09% | Shares |
| Integrated Quantitative Investments LLC | $394,431 | 93,689 | 0.08% | Shares |
| FULLER & THALER ASSET MANAGEMENT, INC. | $380,251 | 90,321 | 0.08% | Shares |
| BARCLAYS PLC | $369,584 | 87,787 | 0.08% | Shares |
| WINTON GROUP Ltd | $354,297 | 84,156 | 0.08% | Shares |
| PROFUND ADVISORS LLC | $327,344 | 77,754 | 0.07% | Shares |
| CITADEL ADVISORS LLC | $319,960 | 76,000 | 0.07% | Call option |
| SmartHarvest Portfolios, LLC | $317,695 | 75,462 | 0.07% | Shares |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. | $317,569 | 75,432 | 0.07% | Shares |
| Pallas Capital Advisors LLC | $311,523 | 73,996 | 0.07% | Shares |
| CAPTRUST FINANCIAL ADVISORS | $301,883 | 71,706 | 0.06% | Shares |
| Squarepoint Ops LLC | $281,645 | 66,899 | 0.06% | Shares |
| Invesco Ltd. | $275,835 | 65,519 | 0.06% | Shares |
| Vanguard Personalized Indexing Management, LLC | $270,227 | 64,187 | 0.06% | Shares |
| PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO | $252,284 | 59,925 | 0.05% | Shares |
| AXQ CAPITAL, LP | $197,988 | 47,028 | 0.04% | Shares |
| Focus Partners Wealth | $189,113 | 44,920 | 0.04% | Shares |
| Police & Firemen's Retirement System of New Jersey | $185,724 | 44,115 | 0.04% | Shares |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE | $180,693 | 42,920 | 0.04% | Shares |
| NEW YORK STATE COMMON RETIREMENT FUND | $176,268 | 41,869 | 0.04% | Shares |
| BRIGHTON JONES LLC | $167,900 | 39,881 | 0.04% | Shares |
Company insiders 41 insiders · 18 officers · 22 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Thomas A Mccourt | Chief Executive Officer | March 10, 2026 A | 1,898,838 | 0 | 2 | $-739,929 |
| Mark Mallon | Chief Executive Officer | Feb. 26, 2021 S | 470,605 | 0 | 0 | $0 |
| Peter M. Hecht | Chief Executive Officer | April 1, 2019 D | 2,217,366 | 0 | 0 | $0 |
| Gregory S. Martini | Chief Financial Officer | March 10, 2026 A | 297,213 | 0 | 2 | $-81,888 |
| Sravan Kumar Emany | SVP, COO and CFO | Nov. 18, 2024 S | 309,572 | 0 | 0 | $0 |
| Gina Consylman | SVP, CFO & Treasurer | March 26, 2021 A | 392,616 | 0 | 0 | $0 |
| Jason Rickard | SVP, Chief Operating Officer | March 8, 2023 A | 376,316 | 0 | 0 | $0 |
| William Huyett | Chief Operating Officer | April 1, 2019 D | 27,546 | 0 | 0 | $0 |
| Michael J Higgins | Chief Operating Officer | Dec. 23, 2014 M | 329,102 | 0 | 0 | $0 |
| Jeffrey Silber | SVP, CMO, Head-Res&Drug | July 20, 2026 A | 137,036 | 0 | 0 | $0 |
| Ronald Silver | PFO & PAO | July 7, 2026 S | 313,680 | 0 | 4 | $-831,183 |
| Tammi L Gaskins | Chief Commercial Officer | March 10, 2026 A | 350,350 | 0 | 3 | $-100,301 |
| Minardo John | Chief Legal Officer | March 10, 2026 A | 500,498 | 0 | 2 | $-136,177 |
| Michael Shetzline | SVP, CMO, Head-Res&Drug | March 10, 2026 A | 658,037 | 0 | 2 | $-121,586 |
| Andrew Davis | SVP, Chief Business Officer | Nov. 18, 2024 S | 284,685 | 0 | 0 | $0 |
| Conor Kilroy | SVP, GC & Secretary | Feb. 26, 2021 S | 122,336 | 0 | 0 | $0 |
| Kelly Macdonald | Chief Accounting Officer | Dec. 4, 2020 M | 93,041 | 0 | 0 | $0 |
| Halley E Gilbert | Chief Admin Officer & SVP | Feb. 21, 2020 S | 265,991 | 0 | 0 | $0 |
| Catherine Moukheibir | Director | June 16, 2026 A | 181,425 | 0 | 0 | $0 |
| Jon R Duane | Director | June 16, 2026 A | 253,820 | 0 | 0 | $0 |
| Marla L Kessler | Director | June 16, 2026 A | 229,364 | 0 | 0 | $0 |
| Jay Shepard | Director | June 16, 2026 A | 235,036 | 0 | 0 | $0 |
| Julie Mchugh | Director | June 16, 2026 S | 250,749 | 0 | 1 | $-80,460 |
| Mark G Currie | Director | June 16, 2026 A | 676,900 | 0 | 0 | $0 |
| DENNER ALEXANDER J | Director | June 16, 2026 A | 323,855 | 0 | 2 | $-20,530,448 |
| Andrew Dreyfus | Director | June 10, 2025 A | 228,313 | 0 | 0 | $0 |
| Edward P Owens | Director | June 2, 2021 A | 241,720 | 0 | 0 | $0 |
| Lawrence S Olanoff | Director | June 2, 2021 A | 91,395 | 0 | 0 | $0 |
| Amy Schulman | Director | April 1, 2019 D | 38,242 | 0 | 0 | $0 |
| Marsha Fanucci | Director | April 1, 2019 D | 132,663 | 0 | 0 | $0 |
| Douglas E Williams | Director | April 1, 2019 D | 87,800 | 0 | 0 | $0 |
| Terrance McGuire | Director | April 1, 2019 D | 73,630 | 0 | 0 | $0 |
| WALSH CHRISTOPHER T PHD | Director | March 15, 2017 A | 71,499 | 0 | 0 | $0 |
| George N Conrades | Director | June 3, 2015 A | 62,221 | 0 | 0 | $0 |
| David A Ebersman | Director | March 13, 2015 A | 29,714 | 0 | 0 | $0 |
| COOK JOSEPH C JR | Director | March 12, 2015 S | 304,080 | 0 | 0 | $0 |
| David Evans Shaw | Director | March 14, 2014 A | 64,306 | 0 | 0 | $0 |
| VR Management LLC | 10% owner | Jan. 15, 2013 J | 2,442 | 0 | 0 | $0 |
| FMR LLC | 10% owner | July 10, 2012 S | 2,340,891 | 0 | 0 | $0 |
| Thomas Graney | — | Feb. 27, 2017 A | 42,013 | 0 | 0 | $0 |
| Bryan E Roberts | — | June 15, 2015 A | 31,951 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
Activists & 5%+ owners 4 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 |
|---|---|---|---|---|---|
| Sarissa Capital Management LP, Alexander J. Denner | March 19, 2026 | 5.80% | Amendment | — | SEC |
| Ironwood Pharmaceuticals, Inc. | July 7, 2023 | — | Initial filing | M&A / sale | SEC |
| OR ×3 filings | March 1, 2021 | — | Initial filing | — | SEC |
| Nov. 9, 2020 | — | 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 42 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 |
|---|---|---|---|---|
| BBC · ETFis Series Trust I | 0.85% | 77,097 NS | April 30, 2026 | N-PORT |
| QQQS · Invesco Exchange-Traded Fund Trust … | 0.57% | 31,360 SH | Aug. 21, 2026 | Daily |
| LABU · Direxion Shares ETF Trust | 0.19% | 233,156 NS | April 30, 2026 | N-PORT |
| IWC · iShares Trust | 0.16% | 565,156 SH | Aug. 21, 2026 | Daily |
| CALF · Pacer Funds Trust | 0.13% | 1,123,536 NS | April 30, 2026 | N-PORT |
| VFVA · VANGUARD WELLINGTON FUND | 0.13% | 267,285 SH | Aug. 19, 2026 | Daily |
| VFMO · VANGUARD WELLINGTON FUND | 0.11% | 521,040 SH | Aug. 19, 2026 | Daily |
| FNDA · SCHWAB STRATEGIC TRUST | 0.10% | 2,465,723 NS | May 31, 2026 | N-PORT |
| FSMD · FIDELITY COVINGTON TRUST | 0.08% | 450,064 NS | April 30, 2026 | N-PORT |
| IBB · iShares Trust | 0.05% | 1,174,921 SH | Aug. 21, 2026 | Daily |
| IBBQ · Invesco Exchange-Traded Fund Trust … | 0.04% | 9,682 SH | Aug. 21, 2026 | Daily |
| VTWG · VANGUARD SCOTTSDALE FUNDS | 0.04% | 165,563 SH | Aug. 19, 2026 | Daily |
| PRFZ · Invesco Exchange-Traded Fund Trust | 0.04% | 273,163 SH | Aug. 21, 2026 | Daily |
| IWO · iShares Trust | 0.04% | 1,413,903 SH | Aug. 21, 2026 | Daily |
| JPSE · J.P. Morgan Exchange-Traded Fund Tr… | 0.03% | 43,650 NS | April 30, 2026 | N-PORT |
| BIB · ProShares Trust | 0.03% | 6,028 NS | May 31, 2026 | N-PORT |
| GSSC · Goldman Sachs ETF Trust | 0.03% | 73,969 NS | May 31, 2026 | N-PORT |
| IWM · iShares Trust | 0.02% | 4,196,923 SH | Aug. 21, 2026 | Daily |
| VTWO · VANGUARD SCOTTSDALE FUNDS | 0.02% | 943,404 SH | Aug. 19, 2026 | Daily |
| RSSL · Global X Funds | 0.02% | 69,316 NS | April 30, 2026 | N-PORT |
| DFAS · Dimensional ETF Trust | 0.02% | 522,300 NS | April 30, 2026 | N-PORT |
| ITWO · ProShares Trust | 0.01% | 7,530 NS | May 31, 2026 | N-PORT |
| RB · ProShares Trust | 0.01% | 46 NS | May 31, 2026 | N-PORT |
| SCHA · SCHWAB STRATEGIC TRUST | 0.01% | 689,826 NS | May 31, 2026 | N-PORT |
| VXF · VANGUARD INDEX FUNDS | 0.01% | 1,677,357 SH | Aug. 19, 2026 | Daily |
| VHT · VANGUARD WORLD FUND | 0.01% | 437,643 SH | Aug. 19, 2026 | Daily |
| UWM · ProShares Trust | 0.01% | 5,889 NS | May 31, 2026 | N-PORT |
| FNDB · SCHWAB STRATEGIC TRUST | 0.01% | 26,377 NS | May 31, 2026 | N-PORT |
| URTY · ProShares Trust | 0.01% | 5,956 NS | May 31, 2026 | N-PORT |
| MSSM · MORGAN STANLEY PATHWAY FUNDS | 0.00% | 7,151 NS | May 31, 2026 | N-PORT |
| IWN · iShares Trust | 0.00% | 92,332 SH | Aug. 21, 2026 | Daily |
| HDG · ProShares Trust | 0.00% | 150 NS | May 31, 2026 | N-PORT |
| DCOR · Dimensional ETF Trust | 0.00% | 11,833 NS | April 30, 2026 | N-PORT |
| DFAC · Dimensional ETF Trust | 0.00% | 100,870 NS | April 30, 2026 | N-PORT |
| ITOT · iShares Trust | 0.00% | 198,131 SH | Aug. 21, 2026 | Daily |
| IWV · iShares Trust | 0.00% | 41,115 SH | Aug. 21, 2026 | Daily |
| SCHB · SCHWAB STRATEGIC TRUST | 0.00% | 86,390 NS | May 31, 2026 | N-PORT |
| DFUS · Dimensional ETF Trust | 0.00% | 10,643 NS | April 30, 2026 | N-PORT |
| VTI · VANGUARD INDEX FUNDS | 0.00% | 4,781,484 SH | Aug. 19, 2026 | Daily |
| VTWV · VANGUARD SCOTTSDALE FUNDS | 0.00% | 9,494 SH | Aug. 19, 2026 | Daily |
| VTHR · VANGUARD SCOTTSDALE FUNDS | 0.00% | 13,354 SH | Aug. 19, 2026 | Daily |
| SMLF · iShares Trust | — | 372,228 SH | Aug. 21, 2026 | Daily |