NEON Neonode Inc. - Common Stock
$0.89
Price · Aug 19, 2026
Fundamentals as of Aug 12, 2026
52W Range
$1–$27
1% of range
Analyst Rating
HOLD
6 analysts
Price Target
—
P/E (TTM)
-2.3
ROE
45.5%
Net Profit Margin
411.9%
About Neonode Inc. - Common Stock Company overview from Wikipedia
NEON Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$0.89
Market Cap
$15M
P/E (TTM)
-2.3
EPS (TTM)
$-0.41
Revenue (TTM)
$2M
Div Yield
—
ROE
45.5%
Debt/Equity
—
52W Range
$1 – $27
NEON 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
$2M
2017-12-31
→
2025-12-31
EPS
$-0.41
2021-12-31
→
2024-12-31
Free Cash Flow
$-10M
2018-12-31
→
2025-12-31
Margins
411.9%
2018-12-31
→
2025-12-31
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Metric
5Y trend
NEON
Peer Median
P/E (TTM)
-2.3
8.0
P/S (TTM)
7.3
0.8
P/B
0.6
1.4
Price / FCF
-1.5
—
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Metric
5Y trend
NEON
Peer Median
Gross Margin
98.7%
26.0%
Operating Margin
357.5%
—
Net Profit Margin
411.9%
-27.9%
ROA
37.5%
-43.2%
ROE
45.5%
-65.1%
ROIC
29.9%
—
Financial Health Debt, liquidity, solvency — balance sheet strength
Metric
5Y trend
NEON
Peer Median
Current Ratio
12.1
1.8
Quick Ratio
11.8
—
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Metric
5Y trend
NEON
Peer Median
Revenue YoY
-33.7%
—
Revenue CAGR 3Y
-28.6%
—
Revenue CAGR 5Y
-19.2%
—
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
Metric
5Y trend
NEON
Peer Median
NEON Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
SELL
6 analysts
- Strong Buy 0 0.0%
- Buy 0 0.0%
- Hold 3 50.0%
- Sell 1 16.7%
- Strong Sell 2 33.3%
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 | $-0.13 | $-0.11 | -0.02% |
| March 31, 2026 | $-0.11 | $-0.10 | -0.01% |
| Dec. 31, 2025 | $-0.12 | $-0.09 | -0.03% |
| Sept. 30, 2025 | $-0.08 | $-0.09 | 0.01% |
| June 30, 2025 | $-0.11 | $-0.10 | -0.01% |
| March 31, 2025 | $-0.10 | $-0.08 | -0.02% |
| Dec. 31, 2024 | $-0.10 | $-0.12 | 0.02% |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement 17
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2M | $3M | $4M | $6M | $6M | $6M | $7M | $9M | $10M | |
| Cost of Revenue | $26.0K | $116.0K | $12.0K | $804.0K | $955.0K | $1M | $683.0K | $921.0K | $2M | |
| Gross Profit | $2M | $3M | $4M | $5M | $5M | $5M | $6M | $8M | $8M | |
| R&D Expense | $4M | $3M | $4M | $4M | $4M | $4M | $5M | $5M | $6M | |
| SG&A Expense | $4M | $4M | $1M | $4M | $6M | $4M | $4M | $4M | $5M | |
| Operating Expenses | $10M | $10M | $10M | $10M | $12M | $11M | $12M | $11M | $13M | |
| Operating Income | $7M | $-7M | $-6M | $-5M | $-7M | $-6M | $-6M | $-4M | $-5M | |
| Interest Expense | · | · | · | · | $15.0K | $27.0K | $34.0K | $49.0K | $75.0K | |
| Other Non-op | $657.0K | $687.0K | $736.0K | $121.0K | $-15.0K | $-5.0K | · | $-52.0K | · | |
| Pretax Income | $8M | $-6M | $-5M | $-5M | $-7M | $-6M | $-6M | $-4M | $-6M | |
| Income Tax | $-9.0K | $15.0K | $115.0K | $118.0K | $146.0K | $59.0K | $38.0K | $13.0K | $-56.0K | |
| Net Income | $8M | $-6M | $-10M | $-5M | $-6M | $-6M | $-5M | $-3M | $-5M | |
| EPS (Basic) | $0.51 | $-0.41 | $-0.66 | $-0.36 | $-0.54 | · | · | · | · | |
| EPS (Diluted) | · | $-0.41 | $-0.66 | $-0.36 | $-0.54 | · | · | · | · | |
| Shares (Basic) | 16,783,000 | 15,873,000 | 15,322 | 13,632 | 11,907 | 9,989 | 8,844,000 | 5,884 | 5,289 | |
| Shares (Diluted) | · | 15,873 | 15,322 | 13,632 | 11,907 | · | · | · | · | |
| EBITDA | $7M | $-7M | $-11M | $-5M | · | $-5M | · | $-3M | · |
Balance Sheet 24
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $25M | $16M | $16M | $15M | $17M | $10M | $2M | $7M | $6M | |
| Receivables | $391.0K | $732.0K | $652.0K | $1M | $1M | $2M | $1M | $2M | $1M | |
| Inventory | · | · | · | $610.0K | $3M | $1M | $1M | $1M | $1M | |
| Prepaid Expense | $495.0K | $475.0K | $891.0K | $707.0K | $836.0K | $1M | $715.0K | $890.0K | $2M | |
| Other Current Assets | · | · | · | · | · | · | $226.0K | $230.0K | $257.0K | |
| Current Assets | $26M | $18M | $19M | $21M | $22M | $15M | $5M | $10M | $10M | |
| PP&E (Net) | $145.0K | $62.0K | $110.0K | $282.0K | $376.0K | $1M | $2M | $2M | $3M | |
| PP&E (Gross) | · | · | · | $3M | $3M | $4M | $3M | · | · | |
| Accum. Depreciation | $270.0K | $236.0K | $309.0K | $4M | $5M | $4M | $3M | $2M | $2M | |
| Other Non-current Assets | · | · | · | · | · | · | · | $261.0K | · | |
| Total Assets | $27M | $18M | $19M | $21M | $23M | $17M | $7M | $13M | $13M | |
| Accounts Payable | $464.0K | $229.0K | $400.0K | $334.0K | $776.0K | $1M | $555.0K | $501.0K | $509.0K | |
| Accrued Liabilities | $459.0K | $404.0K | $309.0K | $200.0K | $371.0K | $545.0K | $541.0K | $265.0K | $177.0K | |
| Current Liabilities | $2M | $2M | $2M | $2M | $3M | $4M | $3M | $2M | $4M | |
| Capital Leases | $0 | $319.0K | · | $35.0K | $117.0K | · | · | $1M | $2M | |
| Other Non-current Liabilities | · | · | · | · | $117.0K | $377.0K | $58.0K | · | · | |
| Total Liabilities | $2M | $2M | $2M | $2M | $3M | $5M | $4M | $3M | $5M | |
| Common Stock | $17.0K | $17.0K | $15.0K | $14.0K | $14.0K | $12.0K | $9.0K | $9.0K | $6.0K | |
| Paid-in Capital | $241M | $241M | $235M | $227M | $227M | $212M | $198M | $198M | $193M | |
| Retained Earnings | $-216M | $-224M | $-218M | $-207M | $-203M | $-196M | $-191M | $-185M | $-184M | |
| AOCI | $-696.0K | $-450.0K | $-396.0K | $-340.0K | · | · | · | $-456.0K | $-99.0K | |
| Stockholders' Equity | $25M | $16M | $17M | $19M | $20M | $15M | $6M | $12M | $9M | |
| Liabilities + Equity | $27M | $18M | $19M | $21M | $23M | $17M | $7M | $13M | $13M | |
| Shares Outstanding | 16,782,922 | 16,782,922 | 15,359,481 | 14,456 | 13,576 | 11,504,665 | 9,171,154 | 8,800,313 | 5,859,414 |
Cash Flow 15
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $50.0K | $58.0K | $47.0K | $120.0K | $632.0K | $767.0K | $855.0K | $1M | $953.0K | |
| Stock-based Comp | $0 | $3.0K | $58.0K | $122.0K | $157.0K | $77.0K | · | $29.0K | $72.0K | |
| Deferred Tax | $0 | $0 | · | · | · | · | · | · | · | |
| Other Non-cash | $-19M | $832.0K | · | $-2M | · | $-991.0K | · | $-836.0K | · | |
| Operating Cash Flow | $-10M | $-6M | $-6M | $-7M | $-8M | $-6M | $-4M | $-3M | $-6M | |
| CapEx | $91.0K | $37.0K | $123.0K | $52.0K | · | $60.0K | $89.0K | $236.0K | $656.0K | |
| Investing Cash Flow | $19M | $152.0K | $-123.0K | $-52.0K | $-67.0K | $-58.0K | $-89.0K | $-232.0K | $-656.0K | |
| Stock Issued | $0 | $6M | $8M | $5M | · | · | $36.0K | $5M | $79M | |
| Stock Repurchased | · | · | · | $12.0K | · | · | · | · | · | |
| Net Stock Activity | $0 | $6M | $8M | $-12.0K | · | · | · | $5M | · | |
| Financing Cash Flow | $-11.0K | $6M | $8M | $5M | $15M | $14M | $-499.0K | $4M | $9M | |
| Net Change in Cash | $9M | $272.0K | $1M | $-3M | $7M | $8M | $-4M | $759.0K | $2M | |
| Taxes Paid | $-9.0K | $15.0K | · | · | · | · | · | · | · | |
| Free Cash Flow | $-10M | $-6M | $-6M | · | · | $-6M | · | $-3M | · | |
| Levered FCF | · | · | · | · | · | $-6M | · | $-3M | · |
Profitability 8
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 98.7% | 96.3% | -2.1% | 85.8% | · | 82.0% | · | 89.2% | · | |
| Operating Margin | 357.5% | -210.7% | -241.5% | -93.2% | · | -103.5% | · | -45.4% | · | |
| Net Margin | 411.9% | -208.0% | -227.5% | -86.1% | · | -93.7% | · | -35.8% | · | |
| Pretax Margin | 389.3% | -188.5% | -224.9% | -91.1% | · | -104.0% | · | -46.0% | · | |
| EBITDA Margin | 359.9% | -209.4% | -241.5% | -91.1% | · | -90.6% | · | -33.6% | · | |
| ROA | 37.5% | -34.6% | -50.3% | -22.1% | · | -46.7% | · | -23.2% | · | |
| ROE | 45.5% | -37.5% | -50.4% | -27.7% | · | -52.1% | · | -29.3% | · | |
| ROIC | 29.9% | -39.9% | -63.3% | -27.8% | · | -41.3% | · | -32.9% | · |
Liquidity & Solvency 3
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 12.1 | 10.9 | 10.2 | 12.2 | · | 3.5 | · | 4.5 | · | |
| Quick Ratio | 11.8 | 10.1 | 9.3 | 9.6 | · | 2.9 | · | 3.6 | · | |
| Interest Coverage | · | · | · | · | · | -229.3 | · | -79.1 | · |
Efficiency 3
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.1 | 0.2 | 0.2 | 0.3 | · | 0.5 | · | 0.6 | · | |
| Inventory Turnover | · | · | 8.3 | 0.3 | · | 0.9 | · | 0.8 | · | |
| Receivables Turnover | 3.7 | · | 3.8 | 4.1 | · | 3.9 | · | 6.0 | · |
Growth Rates 3
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue YoY | -33.7% | -18.8% | -32.5% | -2.8% | -2.5% | · | · | · | · | |
| Revenue CAGR 3Y | -28.6% | -18.9% | -13.8% | · | · | · | · | · | · | |
| Revenue CAGR 5Y | -19.2% | · | · | · | · | · | · | · | · |
Valuation (TTM) 10
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $2M | $3M | $4M | $6M | $6M | $6M | $7M | $9M | $10M | |
| Net Income TTM | $8M | $-6M | $-10M | $-5M | $-6M | $-6M | $-5M | $-3M | $-5M | |
| Market Cap | $29M | $138M | $35M | $80M | · | $78M | · | $15M | · | |
| P/E | -4.5 | -20.1 | -3.5 | -15.3 | -16.4 | · | · | · | · | |
| P/S | 14.2 | 44.4 | 9.2 | 14.0 | · | 13.0 | · | 1.7 | · | |
| P/B | 1.2 | 8.4 | 2.0 | 4.1 | · | 5.1 | · | 1.2 | · | |
| P / Tangible Book | 1.2 | 8.4 | 2.0 | 4.1 | 6.1 | 5.1 | · | · | · | |
| P / Cash Flow | -2.8 | -24.7 | -5.6 | -11.7 | · | -13.5 | · | -5.1 | · | |
| P / FCF | -2.8 | -24.5 | -5.5 | · | · | -13.4 | · | -4.7 | · | |
| Earnings Yield | -22.4% | -5.0% | -28.8% | -6.6% | -6.1% | · | · | · | · |
Income Statement 18
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $477.0K | $614.0K | $520.0K | $430.0K | $599.0K | $513.0K | $655.0K | $838.0K | $801.0K | $814.0K | $536.0K | $840.0K | $1M | $1M | $2M | $1M | |
| Cost of Revenue | $9.0K | $4.0K | $2.0K | $9.0K | $6.0K | $9.0K | $52.0K | $23.0K | $24.0K | $17.0K | $-299.0K | · | $37.0K | $47.0K | $556.0K | $78.0K | |
| Gross Profit | $468.0K | $610.0K | $518.0K | $421.0K | $593.0K | $504.0K | $603.0K | $815.0K | $777.0K | $797.0K | $608.0K | $840.0K | $1M | $1M | $1M | $1M | |
| R&D Expense | $1M | $905.0K | $936.0K | $794.0K | $1M | $975.0K | $752.0K | $822.0K | $975.0K | $895.0K | $1M | $827.0K | $1M | $802.0K | $1M | $792.0K | |
| SG&A Expense | $1M | $1M | $2M | $862.0K | $1M | $852.0K | $2M | $734.0K | $1M | $364.0K | $-2M | $754.0K | $1M | $1M | $1M | $960.0K | |
| Operating Expenses | $3M | $3M | $3M | $2M | $3M | $2M | $2M | $2M | $3M | $3M | $2M | $2M | $3M | $3M | $3M | $2M | |
| Operating Income | $-2M | $-2M | $-2M | $14M | $-2M | $-2M | $-2M | $-1M | $-2M | $-2M | $-1M | $-1M | $-2M | $-2M | $-1M | $-962.0K | |
| Interest Expense | · | · | · | · | · | · | · | · | · | · | · | · | · | $-158.0K | · | · | |
| Interest Income | · | · | · | · | · | · | · | $171.0K | · | · | · | $218.0K | · | · | · | · | |
| Other Non-op | $183.0K | $209.0K | $252.0K | $124.0K | $126.0K | $155.0K | $213.0K | $171.0K | $123.0K | $180.0K | $397.0K | $12.0K | · | $158.0K | $106.0K | · | |
| Pretax Income | $-2M | $-2M | $-2M | $14M | $-2M | $-2M | $-1M | $-1M | $-2M | $-2M | $-1M | $-1M | $-1M | $-1M | $-1M | $-962.0K | |
| Income Tax | $1.0K | $1.0K | $1.0K | $0 | $0 | $-10.0K | $5.0K | $-11.0K | $11.0K | $10.0K | $20.0K | $35.0K | $49.0K | $11.0K | $14.0K | $32.0K | |
| Net Income | $-2M | $-2M | $-2M | $14M | $-2M | $-2M | $-2M | $-1M | $-2M | $-2M | $-6M | $-1M | $-2M | $-1M | $-1M | $-800.0K | |
| EPS (Basic) | $-0.13 | $-0.11 | $-0.13 | $0.85 | $-0.11 | $-0.10 | $-0.09 | $-0.07 | $-0.11 | $-0.14 | $-0.39 | $-0.08 | $-0.10 | $-0.09 | $-0.63 | $0.06 | |
| EPS (Diluted) | · | · | · | · | $-0.11 | $-0.10 | · | $-0.07 | $-0.11 | $-0.14 | $-0.39 | $-0.08 | $-0.10 | $-0.09 | $-0.09 | $-0.06 | |
| Shares (Basic) | 16,783,000 | 16,783,000 | -16,799,783 | 16,783,000 | 16,783,000 | 16,783,000 | -15,481,359 | 15,980,000 | 15,359,000 | 15,359 | -30,605 | 15,359 | 15,359 | 15,209 | -27,102 | 13,580 | |
| Shares (Diluted) | · | · | · | · | 16,783,000 | 16,783 | · | 15,980 | 15,359,000 | 15,359 | -30,605 | 15,359 | 15,359 | 15,209 | -27,102 | 13,580 | |
| EBITDA | $-2M | $-2M | · | $14M | $-2M | $-2M | · | $-1M | $-2M | $-2M | · | $-1M | $-2M | $-2M | · | $-962.0K |
Balance Sheet 21
| 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 | $21M | $23M | $25M | $12M | $13M | $15M | $16M | · | · | $14M | $16M | $18M | $20M | $21M | $15M | $11M | |
| Receivables | $425.0K | $531.0K | $391.0K | $649.0K | · | · | $732.0K | · | $1M | $1M | · | $928.0K | $1M | $2M | $1M | $1M | |
| Inventory | · | · | · | · | · | · | · | · | $205.0K | $487.0K | · | $4M | $4M | $4M | $4M | $4M | |
| Prepaid Expense | $601.0K | $625.0K | $495.0K | $529.0K | $521.0K | $481.0K | $475.0K | $760.0K | $536.0K | $760.0K | $891.0K | $755.0K | $660.0K | $648.0K | $707.0K | $671.0K | |
| Current Assets | $22M | $24M | $26M | $32M | $14M | $16M | $18M | $20M | $15M | $17M | $19M | $24M | $26M | $27M | $21M | $17M | |
| PP&E (Net) | · | · | $145.0K | $160.0K | $99.0K | $101.0K | $62.0K | $77.0K | $83.0K | $294.0K | $110.0K | $288.0K | $289.0K | $284.0K | $282.0K | $281.0K | |
| PP&E (Gross) | · | · | · | · | · | · | · | · | · | · | · | · | · | $3M | · | $2M | |
| Accum. Depreciation | · | · | $270.0K | · | · | · | $236.0K | · | · | · | $309.0K | · | · | · | $4M | · | |
| Total Assets | $24M | $25M | $27M | $33M | $15M | $17M | $18M | $20M | $15M | $17M | $19M | $25M | $26M | $28M | $21M | $18M | |
| Accounts Payable | $247.0K | $367.0K | $464.0K | $525.0K | $231.0K | $400.0K | $229.0K | $212.0K | $321.0K | $491.0K | $400.0K | $510.0K | $508.0K | $314.0K | $334.0K | $357.0K | |
| Accrued Liabilities | $498.0K | $394.0K | $459.0K | $248.0K | $551.0K | $439.0K | $404.0K | $142.0K | $207.0K | $205.0K | $309.0K | $431.0K | $468.0K | $464.0K | $200.0K | $316.0K | |
| Current Liabilities | $2M | $2M | $2M | $6M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | |
| Capital Leases | $805.0K | $0 | $0 | $69.0K | $170.0K | $256.0K | $319.0K | · | · | · | · | · | $17.0K | $18.0K | $35.0K | $49.0K | |
| Total Liabilities | $3M | $2M | $2M | $6M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | |
| Common Stock | $17.0K | $17.0K | $17.0K | $17.0K | $17.0K | $17.0K | $17.0K | $17.0K | $15.0K | $15.0K | $15.0K | $15.0K | $15.0K | $15.0K | $14.0K | $14.0K | |
| Paid-in Capital | $241M | $241M | $241M | $241M | $241M | $241M | $241M | · | · | · | $235M | · | $235M | $235M | · | $227M | |
| Retained Earnings | $-220M | $-217M | $-216M | $-213M | $-228M | $-226M | $-224M | $-222M | $-221M | $-220M | $-218M | $-212M | $-210M | $-209M | $-207M | $-206M | |
| AOCI | $-651.0K | $-675.0K | $-696.0K | $-672.0K | $-639.0K | $-584.0K | $-450.0K | $-492.0K | $-462.0K | $-430.0K | $-396.0K | $-494.0K | $-446.0K | $-305.0K | · | · | |
| Stockholders' Equity | $21M | $23M | $25M | $27M | $13M | $15M | $16M | $18M | $13M | $15M | $17M | $23M | $24M | $26M | $19M | $20M | |
| Liabilities + Equity | $24M | $25M | $27M | $33M | $15M | $17M | $18M | $20M | $15M | $17M | $19M | $25M | $26M | $28M | $21M | $18M | |
| Shares Outstanding | 16,782,922 | 16,782,922 | 16,782,922 | 16,782,922 | 16,782,922 | 16,782,922 | 16,782,922 | 16,782,922 | 15,359,481 | 15,359,481 | 15,359,481 | 15,359,481 | 15,359,481 | · | 14,455,765 | 13,569,700 |
Cash Flow 12
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $17.0K | $16.0K | $13.0K | $14.0K | $14.0K | $9.0K | $9.0K | $9.0K | $13.0K | $27.0K | $40.0K | $18.0K | $20.0K | $17.0K | $16.0K | $17.0K | |
| Stock-based Comp | · | · | $0 | · | · | · | $0 | $0 | $1.0K | $2.0K | $10.0K | $13.0K | $17.0K | $18.0K | $33.0K | $5.0K | |
| Other Non-cash | · | $-259.0K | · | · | · | · | · | · | · | · | · | · | · | · | · | · | |
| Operating Cash Flow | $-2M | $-2M | $-6M | $-2M | $-2M | $-1M | $-1M | $-1M | $-1M | $-2M | $-2M | $-2M | $-617.0K | $-2M | $-1M | $-480.0K | |
| CapEx | $1.0K | $13.0K | $1.0K | $75.0K | $-25.0K | $40.0K | $0 | $0 | · | · | $65.0K | $22.0K | · | · | $-2.0K | $7.0K | |
| Investing Cash Flow | $-1.0K | $-13.0K | $19M | $-75.0K | $25.0K | $-40.0K | $-1.0K | $0 | · | · | $-65.0K | $-22.0K | · | · | $2.0K | $-7.0K | |
| Stock Issued | · | · | $0 | · | · | · | $0 | · | · | · | $0 | $0 | · | · | · | · | |
| Stock Repurchased | · | · | · | · | · | · | · | · | · | · | · | · | · | · | $0 | · | |
| Financing Cash Flow | $-3.0K | $-3.0K | $-3.0K | $-3.0K | $-3.0K | $-2.0K | $-2.0K | $6M | $-4.0K | $-9.0K | $-12.0K | $-25.0K | $-24.0K | $8M | $5M | $-48.0K | |
| Net Change in Cash | $-2M | $-2M | $14M | $-2M | $-2M | $-1M | $-1M | $4M | $-1M | $-2M | $-2M | $-2M | $-690.0K | $6M | $4M | $-1M | |
| Taxes Paid | $1.0K | $1.0K | $1.0K | $-20.0K | $0 | $10.0K | $5.0K | · | · | · | · | $35.0K | · | · | · | $0 | |
| Free Cash Flow | · | $-2M | · | · | · | $-1M | · | · | · | · | · | · | · | · | · | · |
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 | 98.1% | 99.4% | · | 97.9% | 99.0% | 98.2% | · | 97.3% | 65.9% | 60.9% | · | 77.4% | 96.9% | 96.2% | · | 93.6% | |
| Operating Margin | -486.6% | -337.3% | · | 3211.6% | -352.2% | -383.0% | · | -146.2% | -126.9% | -222.3% | · | -145.3% | -135.6% | -125.5% | · | -79.1% | |
| Net Margin | -442.6% | -303.4% | · | 3298.6% | -311.9% | -337.8% | · | -129.7% | -119.0% | -205.5% | · | -126.2% | -125.6% | -113.7% | · | -65.8% | |
| Pretax Margin | -448.2% | -303.3% | · | 3240.5% | -331.2% | -352.8% | · | -125.8% | -118.3% | -204.5% | · | -122.7% | -121.5% | -112.9% | · | -79.1% | |
| EBITDA Margin | -486.6% | -334.7% | · | 3211.6% | -352.2% | -383.0% | · | -146.2% | -126.9% | -222.3% | · | -145.3% | -135.6% | -125.5% | · | -79.1% | |
| ROA | -10.9% | -8.9% | · | 54.1% | -12.3% | -10.2% | · | -4.9% | -8.2% | -9.3% | · | -5.9% | -6.6% | -5.8% | · | -5.7% | |
| ROE | -12.6% | -10.0% | · | 63.3% | -14.4% | -11.7% | · | -5.3% | -9.0% | -10.2% | · | -5.9% | -6.6% | -5.9% | · | -5.2% | |
| ROIC | -11.2% | -9.1% | · | 51.5% | · | -13.4% | · | -6.7% | -13.7% | -15.0% | · | -6.5% | -6.9% | -6.1% | · | -4.9% |
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 | 10.9 | 11.9 | · | 5.4 | 6.5 | 7.7 | · | 11.9 | 8.1 | 8.9 | · | 13.5 | 13.2 | 14.9 | · | 9.6 | |
| Quick Ratio | 10.6 | 11.6 | · | 2.1 | 6.0 | 7.1 | · | · | 0.7 | 8.2 | · | 10.7 | 11.0 | 12.5 | · | 6.8 | |
| Interest Coverage | · | · | · | · | · | · | · | · | · | · | · | · | · | 9.9 | · | · |
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 | 0.0 | 0.0 | · | 0.0 | 0.0 | 0.0 | · | 0.0 | 0.1 | 0.0 | · | 0.0 | 0.1 | 0.1 | · | 0.1 | |
| Inventory Turnover | · | · | · | · | · | · | · | · | 0.3 | 0.2 | · | 0.1 | 0.0 | 0.0 | · | 0.0 | |
| Receivables Turnover | 0.6 | 0.8 | · | 0.5 | · | · | · | · | 1.1 | 0.7 | · | 1.0 | 1.0 | 0.8 | · | 1.4 |
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 | $2M | $2M | · | $2M | $3M | $3M | · | $3M | $4M | $4M | · | $5M | $5M | $5M | · | $5M | |
| Net Income TTM | $8M | $9M | · | $9M | $-6M | $-7M | · | $-6M | $-7M | $-6M | · | $-5M | $-5M | $-5M | · | $-6M | |
| Market Cap | $16M | $23M | · | $59M | $428M | $137M | · | $153M | $32M | $22M | · | $25M | $124M | · | · | $47M | |
| P/E | -2.4 | -3.6 | · | -8.9 | -65.4 | -19.4 | · | -22.8 | -4.8 | -3.4 | · | -4.8 | -22.4 | -21.1 | · | -8.3 | |
| P/S | 7.4 | 10.9 | · | 24.6 | 155.6 | 46.1 | · | 46.4 | 8.7 | 5.2 | · | 5.5 | 25.1 | · | · | 10.0 | |
| P/B | 0.8 | 1.0 | · | 2.2 | 33.8 | 9.4 | · | 8.5 | 2.4 | 1.4 | · | 1.1 | 5.1 | · | · | 2.3 | |
| P / Tangible Book | 0.8 | 1.0 | · | 2.2 | 33.8 | 9.4 | · | 8.5 | 2.4 | 1.4 | · | 1.1 | 5.1 | · | · | 2.3 | |
| P / Cash Flow | · | -11.2 | · | · | · | -100.5 | · | · | · | -11.2 | · | · | · | · | · | · | |
| P / FCF | · | -11.1 | · | · | · | -97.6 | · | · | · | · | · | · | · | · | · | · | |
| Earnings Yield | -41.5% | -27.9% | · | -11.2% | -1.5% | -5.2% | · | -4.4% | -20.8% | -29.3% | · | -20.6% | -4.5% | -4.7% | · | -12.0% |
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 | $2M | $3M | $4M | $6M | $6M |
| Gross Margin % | 98.7% | 96.3% | -2.1% | 85.8% | — |
| Operating Margin % | 357.5% | -210.7% | -241.5% | -93.2% | — |
| Net Income | $8M | $-6M | $-10M | $-5M | $-6M |
| Diluted EPS | — | $-0.41 | $-0.66 | $-0.36 | $-0.54 |
Balance Sheet
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Current Ratio | 12.1 | 10.9 | 10.2 | 12.2 | — |
| Quick Ratio | 11.8 | 10.1 | 9.3 | 9.6 | — |
Cash Flow
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Free Cash Flow | $-10M | $-6M | $-6M | — | — |
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Institutional owners (13F) 62 filers · $1.8M 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 |
|---|---|---|---|---|
| 14 (+2 vs prior Q) | 15 (-2 vs prior Q) | 16 (-1 vs prior Q) | 24 (+7 vs prior Q) | -134K |
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 |
|---|---|---|---|---|
| TWO SIGMA INVESTMENTS, LP | $294,637 | 313,110 | 16.21% | Shares |
| TWO SIGMA ADVISERS, LP | $206,660 | 118,770 | 11.37% | Shares |
| WOLVERINE TRADING, LLC | $127,500 | 37,500 | 7.01% | Put option |
| VANGUARD CAPITAL MANAGEMENT LLC | $126,858 | 134,812 | 6.98% | Shares |
| MILLENNIUM MANAGEMENT LLC | $119,660 | 127,163 | 6.58% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $108,057 | 114,779 | 5.94% | Shares |
| Squarepoint Ops LLC | $85,411 | 90,766 | 4.70% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $69,039 | 73,368 | 3.80% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $57,602 | 61,214 | 3.17% | Shares |
| WOLVERINE TRADING, LLC | $54,777 | 16,111 | 3.01% | Shares |
| STATE STREET CORP | $54,306 | 57,711 | 2.99% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $47,846 | 50,900 | 2.63% | Put option |
| WOLVERINE TRADING, LLC | $47,260 | 13,900 | 2.60% | Call option |
| GOLDMAN SACHS GROUP INC | $38,394 | 40,801 | 2.11% | Shares |
| JANE STREET GROUP, LLC | $36,838 | 39,148 | 2.03% | Shares |
| NORTHERN TRUST CORP | $35,957 | 38,211 | 1.98% | Shares |
| Russell Investments Group, Ltd. | $33,541 | 35,644 | 1.84% | Shares |
| RENAISSANCE TECHNOLOGIES LLC | $29,329 | 31,168 | 1.61% | Shares |
| CITADEL ADVISORS LLC | $25,595 | 27,200 | 1.41% | Put option |
| MORGAN STANLEY | $25,554 | 27,156 | 1.41% | Shares |
| XTX Topco Ltd | $22,324 | 23,724 | 1.23% | Shares |
| CITADEL ADVISORS LLC | $22,043 | 23,425 | 1.21% | Shares |
| AlphaQuest LLC | $19,596 | 11,262 | 1.08% | Shares |
| Qube Research & Technologies Ltd | $19,414 | 20,631 | 1.07% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $19,270 | 20,500 | 1.06% | Call option |
| Jain Global LLC | $15,825 | 16,817 | 0.87% | Shares |
| CITADEL ADVISORS LLC | $13,833 | 14,700 | 0.76% | Call option |
| SIMPLEX TRADING, LLC | $10,397 | 11,049 | 0.57% | Shares |
| Centiva Capital, LP | $10,002 | 10,629 | 0.55% | Shares |
| VANGUARD GROUP INC | $8,940 | 5,138 | 0.49% | Shares |
| RHUMBLINE ADVISERS | $4,992 | 5,305 | 0.27% | Shares |
| Vanguard Global Advisers, LLC | $4,835 | 5,138 | 0.27% | Shares |
| Arax Advisory Partners | $4,597 | 4,885 | 0.25% | Shares |
| FMR LLC | $4,491 | 4,773 | 0.25% | Shares |
| CIBC Private Wealth Group LLC | $3,490 | 1,000 | 0.19% | Shares |
| Tower Research Capital LLC (TRC) | $2,058 | 2,187 | 0.11% | Shares |
| CWM, LLC | $1,417 | 1,012 | 0.08% | Shares |
| BlackRock, Inc. | $1,304 | 1,386 | 0.07% | Shares |
| SBI Securities Co., Ltd. | $1,127 | 1,198 | 0.06% | Shares |
| MERCER GLOBAL ADVISORS INC /ADV | $1,041 | 1,106 | 0.06% | Shares |
| CITIGROUP INC | $583 | 620 | 0.03% | Shares |
| BNP PARIBAS FINANCIAL MARKETS | $477 | 507 | 0.03% | Shares |
| JPMORGAN CHASE & CO | $465 | 557 | 0.03% | Shares |
| NISA INVESTMENT ADVISORS, LLC | $161 | 171 | 0.01% | Shares |
| AQR CAPITAL MANAGEMENT LLC | $136 | 145 | 0.01% | Shares |
| Essential Partners LLC | $57 | 61 | 0.00% | Shares |
| GSA CAPITAL PARTNERS LLP | $47 | 49,474 | 0.00% | Shares |
| HRT FINANCIAL LP | $45 | 48,083 | 0.00% | Shares |
| True Wealth Design, LLC | $37 | 39 | 0.00% | Shares |
| Integrated Wealth Concepts LLC | $26 | 27 | 0.00% | Shares |
| UBS Group AG | $26 | 28 | 0.00% | Shares |
| ROTHSCHILD INVESTMENT LLC | $18 | 19 | 0.00% | Shares |
| Farther Finance Advisors, LLC | $17 | 18 | 0.00% | Shares |
| IFP Advisors, Inc | $10 | 11 | 0.00% | Shares |
| Axiom Investment Management LLC | $9 | 10 | 0.00% | Shares |
| Allworth Financial LP | $6 | 6 | 0.00% | Shares |
| Fortitude Family Office, LLC | $5 | 5 | 0.00% | Shares |
| SJS Investment Consulting Inc. | $4 | 4 | 0.00% | Shares |
| EverSource Wealth Advisors, LLC | $1 | 1 | 0.00% | Shares |
| BARCLAYS PLC | $1 | 1 | 0.00% | Shares |
| Caitong International Asset Management Co., Ltd | $1 | 1 | 0.00% | Shares |
| ROYAL BANK OF CANADA | $0 | 252 | 0.00% | Shares |
Company insiders 34 insiders · 14 officers · 21 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Urban Forssell | Chief Executive Officer | Dec. 17, 2021 A | 123,922 | 0 | 0 | $0 |
| Hakan Persson | Chief Executive Officer | Dec. 28, 2018 P | 34,375 | 0 | 0 | $0 |
| Bjorn Thomas Eriksson | President and CEO | Aug. 17, 2016 P | 2,121,062 | 0 | 0 | $0 |
| Mikael Hagman | President & CEO | Jan. 2, 2008 A | — | 0 | 0 | $0 |
| Kenneth Gregory Yamamoto | CEO & President | Aug. 2, 2007 A | 64,122 | 0 | 0 | $0 |
| Daniel Grey | President & CEO | Jan. 12, 2006 A | 11,364 | 0 | 0 | $0 |
| Fredrik Nihlen | Chief Financial Officer | Dec. 17, 2021 A | 16,190 | 0 | 0 | $0 |
| Lars, Goran Lindqvist | CFO | Dec. 28, 2018 P | 9,375 | 0 | 0 | $0 |
| David W Brunton | VP Finance & CFO | Sept. 16, 2013 S | 458,206 | 0 | 0 | $0 |
| Magnus Georg Goertz | Vice President | Oct. 2, 2007 S | 1,805,074 | 0 | 0 | $0 |
| Leo Fang | EVP, Engineering | Aug. 2, 2007 A | 25,081 | 0 | 0 | $0 |
| Nelson H Abal | VP, Sales | May 24, 2007 A | 4,962 | 0 | 0 | $0 |
| Ignacio C Munio | VP Engineering | May 3, 2005 A | 98,945 | 0 | 0 | $0 |
| Kirk Anderson | VP, Operations | March 4, 2004 X | — | 0 | 0 | $0 |
| Cecilia Edstrom | Director | May 17, 2022 A | 4,000 | 0 | 0 | $0 |
| Mattias Bergman | Director | Dec. 29, 2020 A | 6,737 | 0 | 0 | $0 |
| Ulf Rosberg | Director | Sept. 29, 2020 C | 1,854,068 | 0 | 0 | $0 |
| Andreas Bunge | Director | Dec. 28, 2018 P | 104,000 | 0 | 0 | $0 |
| Mats Dahlin | Director | Oct. 13, 2015 P | 991,825 | 0 | 0 | $0 |
| Per Gunnar Loefgren | Director | March 3, 2015 A | 15,000 | 0 | 0 | $0 |
| John Ralph Reardon | Director | March 3, 2015 A | 7,280 | 0 | 0 | $0 |
| Per Ivar Gosta Bystedt | Director | Aug. 12, 2013 X | 3,182,189 | 0 | 0 | $0 |
| Susan Marie Major | Director | Jan. 26, 2009 A | 140,510 | 0 | 0 | $0 |
| STAR OPERATING COMPANIES, INC. | Director | June 3, 2008 A | — | 0 | 0 | $0 |
| Johan Sven Ake Ihrfelt | Director | Jan. 2, 2008 A | — | 0 | 0 | $0 |
| Ronald J Ritchie | Director | Aug. 2, 2007 A | 15,211 | 0 | 0 | $0 |
| John J Derrico | Director | Aug. 2, 2007 A | 6,954 | 0 | 0 | $0 |
| Marion Melvin Stuckey | Director | Aug. 2, 2007 A | 8,891 | 0 | 0 | $0 |
| William B Heye JR | Director | Aug. 15, 2006 A | 32,259 | 0 | 0 | $0 |
| Randall L W Caudill | Director | March 12, 2004 X | 11,438 | 0 | 0 | $0 |
| Raimon L Conlisk | Director | Aug. 26, 2003 P | 23,687 | 0 | 0 | $0 |
| Lindell Peter | 10% owner | Sept. 29, 2020 C | 1,799,032 | 0 | 0 | $0 |
| AIGH Investment Partners, LLC | 10% owner | Dec. 31, 2008 C | 11,759 | 0 | 0 | $0 |
| Andre Hedrick | — | July 24, 2007 A | 280,000 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
Activists & 5%+ owners 14 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 |
|---|---|---|---|---|---|
| Peter Lindell, Cidro Forvaltning AB | Nov. 17, 2021 | — | Initial filing | — | SEC |
| Ulf Rosberg (2) ×5 filings | Aug. 10, 2020 | — | Initial filing | — | SEC |
| Peter Lindell (2) ×2 filings | Aug. 10, 2020 | — | Initial filing | — | SEC |
| Undisclosed reporting person | Feb. 10, 2006 | — | Initial filing | — | SEC |
| Undisclosed reporting person | Feb. 6, 2006 | — | Initial filing | — | SEC |
| Undisclosed reporting person | Aug. 30, 2005 | — | Initial filing | — | SEC |
| Undisclosed reporting person | Feb. 10, 2005 | — | Initial filing | — | SEC |
| Undisclosed reporting person | Feb. 10, 2005 | — | Initial filing | — | SEC |
| Meadowbrook Opportunity Fund LLC Taxpayer ID | Nov. 19, 2004 | — | Initial filing | — | SEC |
| Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person | March 30, 2004 | — | Initial filing | Passive investment | SEC |
| Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person | Nov. 10, 2003 | — | Initial filing | Passive investment | SEC |
| Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person | June 3, 2003 | — | Initial filing | Passive investment | SEC |
| Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person | Jan. 21, 2003 | — | Initial filing | Passive investment | SEC |
| Undisclosed reporting person | Aug. 20, 2001 | — | 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 6 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% | 5,213 NS | April 30, 2026 | N-PORT |
| ITWO · ProShares Trust | 0.00% | 593 NS | May 31, 2026 | N-PORT |
| UWM · ProShares Trust | 0.00% | 462 NS | May 31, 2026 | N-PORT |
| URTY · ProShares Trust | 0.00% | 464 NS | May 31, 2026 | N-PORT |
| HDG · ProShares Trust | 0.00% | 12 NS | May 31, 2026 | N-PORT |
| VXF · VANGUARD INDEX FUNDS | 0.00% | 134,812 SH | Aug. 8, 2026 | Daily |