NODK NI Holdings, Inc. - Common Stock
$15.25
Price · Aug 18, 2026
Fundamentals as of Aug 7, 2026
52W Range
$12–$17
68% of range
Analyst Rating
—
Price Target
—
P/E (TTM)
-30.5
ROE
-4.3%
Net Profit Margin
-3.6%
NODK Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$15.25
Market Cap
$313M
P/E (TTM)
-30.5
EPS (TTM)
$-0.50
Revenue (TTM)
$285M
Div Yield
2.1%
ROE
-4.3%
Debt/Equity
—
52W Range
$12 – $17
NODK 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
$285M
2016-12-31
→
2025-12-31
EPS
$-0.50
2017-12-31
→
2025-12-31
Free Cash Flow
$-15M
2016-12-31
→
2025-12-31
Margins
-3.6%
2017-12-31
→
2025-12-31
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Metric
5Y trend
NODK
Peer Median
P/E (TTM)
-30.5
12.2
P/S (TTM)
1.1
1.4
P/B
1.3
1.8
Price / FCF
-20.2
—
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Metric
5Y trend
NODK
Peer Median
Gross Margin
24.5%
69.0%
Net Profit Margin
-3.6%
13.0%
ROA
-2.0%
5.6%
ROE
-4.3%
15.8%
Financial Health Debt, liquidity, solvency — balance sheet strength
Metric
5Y trend
NODK
Peer Median
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Metric
5Y trend
NODK
Peer Median
Revenue YoY
-12.3%
—
Revenue CAGR 3Y
2.1%
—
Revenue CAGR 5Y
-1.4%
—
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
Metric
5Y trend
NODK
Peer Median
Payout Ratio
-64.6%
—
Dividends Yield, payout ratio, dividend history, 5Y CAGR
Dividend Yield
2.1%
Payout Ratio
-64.6%
5Y Div CAGR
—
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| Dec. 31, 2022 | $0.04 | — | — |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| NODK | $273M | -26.6 | -12.3% | -3.6% | -4.3% | 24.5% |
| ITIC | $471M | 13.4 | 5.6% | 12.9% | 13.2% | — |
| AMSF | $722M | 15.6 | 2.7% | 14.9% | 18.2% | — |
| AII | $408M | 3.7 | 35.3% | 36.0% | 31.2% | — |
| ACIC | $616M | 5.9 | 13.1% | 31.9% | 35.0% | — |
| GBLI | — | 16.2 | 2.0% | 5.6% | 3.6% | — |
| KINS | $242M | 5.8 | 38.5% | 19.0% | 37.5% | — |
| KWY | — | — | — | — | — | — |
| MBI | — | -2.0 | 90.5% | -221.2% | 8.2% | — |
| OSG | $350M | -1.3 | 6.5% | -103.1% | -34.2% | — |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement 11
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $285M | $325M | $304M | $268M | $324M | $306M | $271M | $212M | $189M | $164M | $146M | |
| Gross Profit | $70M | $103M | $106M | $30M | $83M | $115M | $77M | $77M | $57M | $34M | $56M | |
| Operating Expenses | $297M | $315M | $283M | $321M | $313M | $254M | $237M | $173M | $167M | $158M | $120M | |
| Pretax Income | $-12M | $10M | $21M | $-53M | $11M | $53M | $34M | $39M | $22M | $6M | $26M | |
| Income Tax | $-2M | $4M | $716.0K | $-14M | $3M | $11M | $7M | $8M | $6M | $1M | $8M | |
| Net Income | $-10M | $-6M | $-5M | $-53M | $8M | $40M | $26M | $31M | $16M | $5M | $17M | |
| EPS (Basic) | $-0.50 | $-0.29 | $-0.26 | $-2.49 | $0.39 | $1.86 | $1.19 | $1.39 | $0.71 | · | · | |
| EPS (Diluted) | $-0.50 | $-0.29 | $-0.26 | $-2.49 | $0.39 | $1.84 | $1.19 | $1.39 | $0.71 | · | · | |
| Shares (Basic) | 20,991,331 | 20,968,545 | 21,159,073 | 21,333,389 | 21,424,060 | 21,772,475 | 22,179,747 | 22,358,858 | 22,512,401 | · | · | |
| Shares (Diluted) | 20,991,331 | 21,089,171 | 21,235,605 | 21,333,389 | 21,656,426 | 21,942,470 | 22,265,348 | 22,385,754 | 22,512,629 | · | · | |
| EBITDA | · | · | · | $708.0K | $694.0K | $709.0K | $538.0K | $492.0K | $500.0K | $441.0K | · |
Balance Sheet 22
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $52M | $51M | $41M | $47M | $71M | $101M | $62M | $69M | $28M | $18M | $15M | |
| Short-term Investments | $500.0K | $500.0K | $500.0K | $500.0K | $500.0K | $500.0K | $500.0K | $500.0K | $500.0K | $500.0K | · | |
| PP&E (Net) | $7M | $8M | $10M | $10M | $10M | $10M | $8M | $7M | $6M | $5M | $5M | |
| PP&E (Gross) | $18M | $19M | $22M | $21M | $21M | $21M | $18M | $18M | $17M | $16M | $16M | |
| Accum. Depreciation | $11M | $12M | $12M | $11M | $11M | $11M | $10M | $11M | $11M | $12M | $11M | |
| Goodwill | · | · | $3M | $9M | $9M | $9M | $3M | $5M | $3M | $3M | $3M | |
| Intangibles | · | · | $7M | $8M | $8M | $9M | $284.0K | · | · | · | · | |
| Other Non-current Assets | $12M | $11M | $11M | · | · | · | · | · | · | · | · | |
| Total Assets | $506M | $527M | $655M | $614M | $652M | $618M | $508M | $458M | $377M | $279M | $259M | |
| Short-term Debt | · | · | · | · | · | · | · | · | $3M | $3M | $3M | |
| Deferred Tax | · | · | · | · | $6M | $9M | $5M | $124.0K | $2M | $2M | $4M | |
| Total Liabilities | $266M | $282M | $404M | $361M | $304M | $269M | $198M | $183M | $121M | $125M | $109M | |
| Long-term Debt | $2M | $2M | $2M | · | · | · | · | · | · | · | · | |
| Total Debt | · | · | · | · | · | · | · | · | $3M | $3M | · | |
| Common Stock | $230.0K | $230.0K | $230.0K | $230.0K | $230.0K | $230.0K | $230.0K | $230.0K | $230.0K | · | · | |
| Paid-in Capital | · | · | $96M | $96M | $98M | $98M | $96M | $94M | $93M | · | · | |
| Retained Earnings | $191M | $202M | $208M | $214M | $267M | $259M | $218M | $184M | $153M | $140M | $135M | |
| Treasury Stock | $36M | $34M | $35M | $29M | $26M | $24M | $12M | $11M | $8M | · | · | |
| AOCI | $-11M | $-18M | $-21M | $-29M | $5M | $13M | $6M | $6M | $16M | $10M | $11M | |
| Stockholders' Equity | $240M | $245M | $250M | $253M | $347M | $349M | $310M | $276M | $256M | $153M | $150M | |
| Liabilities + Equity | $506M | $527M | $655M | $614M | $652M | $618M | $508M | $458M | $377M | $279M | $259M | |
| Shares Outstanding | 20,554,144 | 20,673,268 | 20,599,908 | 21,076,255 | 21,219,808 | 21,318,638 | 22,119,380 | 22,192,894 | 22,760,000 | 0 | · |
Cash Flow 16
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | · | · | · | $708.0K | $694.0K | $709.0K | $538.0K | $492.0K | $500.0K | $441.0K | $523.0K | |
| Stock-based Comp | $828.0K | $238.0K | $1M | $-40.0K | $2M | $2M | $2M | $1M | $423.0K | · | · | |
| Deferred Tax | $-1M | $2M | $-2M | $-4M | $-1M | · | · | $-692.0K | $-2M | $-85.0K | $378.0K | |
| Amort. of Intangibles | $100.0K | · | $33.0K | $50.0K | $472.0K | $5M | $2M | $4M | · | $57.0K | $52.0K | |
| Other Non-cash | · | · | · | $22M | $18M | $8M | $-3M | $-11M | $4M | $2M | · | |
| Operating Cash Flow | $-15M | $39M | $51M | $-15M | $29M | $51M | $26M | $21M | $18M | $7M | $17M | |
| CapEx | $217.0K | $991.0K | $661.0K | $878.0K | $739.0K | $616.0K | $1M | $2M | $1M | $548.0K | $531.0K | |
| Investing Cash Flow | $19M | $-5M | $-9M | $25M | $-48M | $200.0K | $-30M | $23M | $-92M | $-4M | $-24M | |
| Stock Issued | · | · | · | · | · | · | · | · | $93M | · | · | |
| Stock Repurchased | · | · | · | $4M | $4M | $12M | · | · | · | · | · | |
| Net Stock Activity | · | · | · | $-4M | · | · | · | · | $93M | · | · | |
| Dividends Paid | $7M | $8M | · | · | · | · | · | · | · | · | · | |
| Financing Cash Flow | $-3M | $-4M | $-7M | $-18M | $-11M | $-12M | $-2M | $-3M | $83M | · | · | |
| Net Change in Cash | · | · | $10M | $-24M | $-30M | $39M | $-7M | $41M | $9M | $4M | $-7M | |
| Taxes Paid | $4M | $3M | $-11M | $2M | $4M | · | · | · | · | $4M | $10M | |
| Free Cash Flow | $-15M | $38M | $25M | $-32M | $28M | $50M | $24M | $19M | $17M | $7M | · |
Profitability 6
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 24.5% | 31.6% | 29.2% | 10.4% | 25.7% | 37.6% | 28.3% | 36.1% | 30.0% | · | · | |
| Net Margin | -3.6% | -1.9% | -1.5% | -16.4% | 2.6% | 13.2% | 9.8% | 14.6% | 8.5% | 2.8% | · | |
| Pretax Margin | -4.3% | 3.1% | -1.2% | -21.3% | 3.5% | 17.2% | 12.5% | 18.2% | 11.6% | 3.7% | · | |
| EBITDA Margin | · | · | · | 0.22% | 0.21% | 0.23% | 0.20% | 0.23% | 0.26% | 0.27% | · | |
| ROA | -2.0% | -1.0% | -0.86% | -8.4% | 1.3% | 7.2% | 5.5% | 7.4% | 4.9% | 1.7% | · | |
| ROE | -4.3% | -2.5% | -2.3% | -21.1% | 2.4% | 12.0% | 8.8% | 11.4% | 6.5% | 3.0% | · |
Liquidity & Solvency 1
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | · | · | · | · | · | · | · | · | 0.0 | 0.0 | · |
Efficiency 1
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.6 | 0.6 | 0.6 | 0.5 | 0.5 | 0.5 | 0.6 | 0.5 | 0.6 | 0.6 | · |
Growth Rates 5
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue YoY | -12.3% | 7.0% | 13.5% | -17.3% | 5.8% | · | · | · | · | · | · | |
| Revenue CAGR 3Y | 2.1% | 0.13% | -0.25% | · | · | · | · | · | · | · | · | |
| Revenue CAGR 5Y | -1.4% | · | · | · | · | · | · | · | · | · | · | |
| EPS YoY | · | · | · | · | -78.8% | · | · | · | · | · | · | |
| Net Income YoY | · | · | · | · | -79.2% | · | · | · | · | · | · |
Valuation (TTM) 17
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $285M | $325M | $304M | $268M | $324M | $306M | $271M | $212M | $189M | $164M | · | |
| Net Income TTM | $-10M | $-6M | $-5M | $-53M | $8M | $40M | $26M | $31M | $16M | $5M | · | |
| Market Cap | $273M | $325M | $268M | $280M | $401M | $350M | $380M | $349M | $379M | · | · | |
| Enterprise Value | · | · | · | · | · | · | · | · | $354M | · | · | |
| P/E | -26.6 | -54.1 | -50.0 | -5.3 | 48.5 | 8.9 | 14.5 | 11.3 | 23.9 | · | · | |
| P/S | 1.0 | 1.0 | 0.9 | 1.0 | 1.2 | 1.1 | 1.4 | 1.6 | 2.0 | · | · | |
| P/B | 1.1 | 1.3 | 1.1 | 1.1 | 1.2 | 1.0 | 1.2 | 1.3 | 1.5 | · | · | |
| P / Tangible Book | 1.1 | 1.3 | 1.1 | 1.2 | 1.2 | 1.1 | · | · | · | · | · | |
| P / Cash Flow | -17.9 | 8.4 | 10.3 | -9.2 | 13.8 | 6.9 | 14.8 | 16.7 | 20.6 | · | · | |
| P / FCF | -17.6 | 8.7 | 10.7 | -8.9 | 14.1 | 6.9 | 15.6 | 18.0 | 22.2 | · | · | |
| EV / EBITDA | · | · | · | · | · | · | · | · | 708.4 | · | · | |
| EV / FCF | · | · | · | · | · | · | · | · | 20.7 | · | · | |
| EV / Revenue | · | · | · | · | · | · | · | · | 1.9 | · | · | |
| Dividend Yield | 2.5% | 2.5% | · | · | · | · | · | · | · | · | · | |
| Earnings Yield | -3.8% | -1.8% | -2.0% | -18.8% | 2.1% | 11.2% | 6.9% | 8.8% | 4.2% | · | · | |
| Payout Ratio | -64.6% | -136.5% | · | · | · | · | · | · | · | · | · | |
| Annual Payout | $7M | $8M | · | · | · | · | · | · | · | · | · |
Income Statement 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $70M | $60M | $61M | $77M | $76M | $71M | $74M | $89M | $88M | $74M | $63M | $78M | $81M | $82M | $37M | $89M | |
| Gross Profit | $17M | $32M | $19M | $16M | $6M | $29M | $39M | $18M | $16M | $30M | $45M | $23M | $19M | $19M | $14M | $11M | |
| Operating Expenses | $70M | $44M | $64M | $78M | $91M | $64M | $60M | $92M | $97M | $66M | $35M | $77M | $84M | $87M | $20M | $102M | |
| Pretax Income | $230.0K | $16M | $-3M | $-2M | $-15M | $8M | $14M | $-3M | $-9M | $9M | $28M | $1M | $-3M | $-6M | $17M | $-13M | |
| Income Tax | $84.0K | $3M | $260.0K | $-192.0K | $-3M | $1M | $4M | $-751.0K | $-2M | $2M | $2M | $214.0K | $-685.0K | $-1M | $730.0K | $-3M | |
| Net Income | $146.0K | $13M | $-3M | $-2M | $-12M | $6M | $10M | $-3M | $-20M | $6M | $7M | $231.0K | $-8M | $-4M | $890.0K | $-10M | |
| EPS (Basic) | $0.01 | $0.60 | $-0.16 | $-0.08 | $-0.57 | $0.31 | $0.47 | $-0.13 | $-0.94 | $0.31 | $0.31 | $0.01 | $-0.38 | $-0.20 | $0.04 | $-0.47 | |
| EPS (Diluted) | $0.01 | $0.60 | $-0.16 | $-0.08 | $-0.57 | $0.31 | $0.48 | $-0.13 | $-0.94 | $0.30 | $0.31 | $0.01 | $-0.38 | $-0.20 | $0.04 | $-0.47 | |
| Shares (Basic) | 20,811,048 | 20,875,365 | -42,064,078 | 21,001,396 | 21,039,090 | 21,014,923 | -41,919,826 | 20,985,213 | 20,970,384 | 20,932,774 | -42,603,257 | 21,111,832 | 21,281,542 | 21,368,956 | -42,747,550 | 21,328,383 | |
| Shares (Diluted) | 20,874,648 | 20,935,074 | -42,145,285 | 21,001,396 | 21,039,090 | 21,096,130 | -41,912,505 | 20,985,213 | 20,970,384 | 21,046,079 | -42,608,415 | 21,193,522 | 21,281,542 | 21,368,956 | -42,986,711 | 21,328,383 | |
| EBITDA | · | · | · | $175.0K | $171.0K | $173.0K | · | · | · | · | · | · | · | $182.0K | · | · |
Balance Sheet 19
| 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 | $52M | $58M | $52M | $25M | $57M | $57M | $51M | $39M | $51M | $69M | · | $35M | $53M | $61M | · | $54M | |
| Short-term Investments | · | · | $500.0K | · | · | · | · | · | · | · | · | · | · | · | · | · | |
| PP&E (Net) | $6M | $7M | $7M | $7M | $7M | $7M | $8M | $8M | $8M | $10M | · | $10M | $10M | $10M | · | $10M | |
| PP&E (Gross) | $18M | $18M | $18M | $19M | $19M | $19M | $19M | $19M | $19M | $22M | · | $22M | $22M | $21M | · | $21M | |
| Accum. Depreciation | $11M | $11M | $11M | $12M | $12M | $12M | $12M | $12M | $11M | $12M | · | $12M | $12M | $11M | · | $11M | |
| Goodwill | · | · | · | · | · | · | · | $3M | $3M | $3M | $3M | $9M | $9M | $9M | $9M | $9M | |
| Intangibles | · | · | · | · | · | · | · | · | · | $7M | · | $8M | $8M | $8M | · | $8M | |
| Other Non-current Assets | $14M | $12M | $12M | $11M | $11M | $11M | $11M | · | · | · | · | · | · | · | · | · | |
| Total Assets | $543M | $492M | $506M | $544M | $620M | $525M | $527M | $560M | $571M | $675M | · | $657M | $687M | $628M | · | $637M | |
| Total Liabilities | $294M | $242M | $266M | $300M | $377M | $271M | $282M | $319M | $335M | $419M | · | $427M | $447M | $375M | · | $386M | |
| Long-term Debt | $2M | $2M | $2M | $2M | · | · | · | $2M | $2M | $2M | · | $2M | $2M | $2M | · | · | |
| Common Stock | $230.0K | $230.0K | $230.0K | $230.0K | $230.0K | $230.0K | $230.0K | $230.0K | $230.0K | $230.0K | · | $230.0K | $230.0K | $230.0K | · | $230.0K | |
| Paid-in Capital | · | · | · | · | · | · | · | · | · | $96M | · | $96M | $96M | $96M | · | $96M | |
| Retained Earnings | $204M | $203M | $191M | $194M | $196M | $208M | $202M | $192M | $194M | $218M | · | $202M | $202M | $210M | · | $213M | |
| Treasury Stock | $38M | $36M | $36M | $35M | $34M | $34M | $34M | $34M | $34M | $35M | · | $35M | $31M | $29M | · | $28M | |
| AOCI | $-12M | $-12M | $-11M | $-12M | $-15M | $-16M | $-18M | $-12M | $-20M | $-24M | · | $-34M | $-27M | $-25M | · | $-32M | |
| Stockholders' Equity | $249M | $250M | $240M | $244M | $243M | $254M | $245M | $241M | $236M | $256M | $250M | $230M | $240M | $253M | $253M | $251M | |
| Liabilities + Equity | $543M | $492M | $506M | $544M | $620M | $525M | $527M | $560M | $571M | $675M | · | $657M | $687M | $628M | · | $637M | |
| Shares Outstanding | 20,431,819 | 20,520,028 | 20,554,144 | 20,629,737 | 20,713,358 | 20,698,574 | 20,673,268 | 20,648,642 | 20,648,642 | 20,629,454 | 20,599,908 | 20,575,593 | 20,885,978 | 21,062,355 | · | 21,147,681 |
Cash Flow 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | · | · | · | $175.0K | $171.0K | $173.0K | · | $186.0K | $187.0K | $243.0K | · | · | $188.0K | $182.0K | · | · | |
| Stock-based Comp | $372.0K | $293.0K | $-200.0K | $304.0K | $244.0K | $480.0K | $-284.0K | $-614.0K | $555.0K | $581.0K | $56.0K | $409.0K | $396.0K | $505.0K | $-446.0K | $-645.0K | |
| Deferred Tax | $-682.0K | $1M | $-27.0K | $115.0K | $-769.0K | $-683.0K | $36.0K | $2M | $-998.0K | $423.0K | $2M | $136.0K | $-816.0K | $-3M | · | · | |
| Amort. of Intangibles | · | · | $100.0K | $0 | $0 | · | · | $0 | $105.0K | $106.0K | $-321.0K | $118.0K | $118.0K | $118.0K | $-300.0K | $114.0K | |
| Other Non-cash | · | · | · | · | · | $3M | · | · | · | · | · | · | · | $-828.0K | · | · | |
| Operating Cash Flow | $912.0K | $-2M | $13M | $-45M | $6M | $10M | $22M | $-18M | $19M | $17M | $42M | $2M | $24M | $-4M | $9M | $-38M | |
| CapEx | $19.0K | $42.0K | $0 | $35.0K | $162.0K | $20.0K | $214.0K | $147.0K | $578.0K | $52.0K | $-101.0K | $-126.0K | $355.0K | $293.0K | $-174.0K | $926.0K | |
| Investing Cash Flow | $-6M | $9M | $15M | $14M | $-7M | $-3M | $-10M | $9M | $367.0K | $-4M | $-7M | $-3M | $-18M | $19M | $6M | $31M | |
| Stock Issued | · | · | · | · | · | · | · | · | · | · | · | · | · | · | · | $-203.0K | |
| Stock Repurchased | · | · | · | · | · | · | · | · | · | · | · | · | $3M | $621.0K | · | · | |
| Net Stock Activity | · | · | · | · | · | · | · | · | · | · | · | · | · | $-621.0K | · | · | |
| Financing Cash Flow | $-1M | $-1M | $-1M | $-1M | $-32.0K | $-157.0K | $-30.0K | $-3M | $-24.0K | $-178.0K | $-12.0K | $-4M | $-3M | $-794.0K | $-8M | $-1M | |
| Net Change in Cash | · | · | · | · | · | · | · | · | · | $12M | · | $-18M | $-9M | $14M | · | $-9M | |
| Taxes Paid | $946.0K | $-572.0K | $-180.0K | $1M | · | · | $5.0K | $0 | $4M | $-887.0K | $-10M | $0 | · | · | · | · | |
| Free Cash Flow | · | $-2M | · | · | · | $10M | · | · | · | $16M | · | · | · | $-5M | · | · |
Profitability 6
| 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 | 23.6% | 53.3% | · | 20.5% | 8.4% | 40.6% | · | 20.4% | 18.0% | 36.5% | · | 29.3% | 17.2% | 23.1% | · | 11.9% | |
| Net Margin | 0.21% | 21.0% | · | -2.2% | -15.8% | 9.0% | · | -3.0% | -22.4% | 7.0% | · | 0.25% | -8.4% | -5.2% | · | -11.2% | |
| Pretax Margin | 0.33% | 26.4% | · | -2.4% | -20.2% | 10.8% | · | -3.9% | -10.3% | 8.9% | · | 0.14% | -10.7% | -6.8% | · | -14.8% | |
| EBITDA Margin | · | · | · | 0.23% | 0.22% | 0.24% | · | · | · | · | · | · | · | 0.22% | · | · | |
| ROA | 0.03% | 2.5% | · | -0.30% | -2.0% | 1.1% | · | -0.44% | -3.1% | 0.99% | · | 0.04% | -1.2% | -0.67% | · | -1.5% | |
| ROE | 0.06% | 5.0% | · | -0.69% | -5.0% | 2.5% | · | -1.1% | -8.2% | 2.5% | · | 0.10% | -3.2% | -1.4% | · | -3.4% |
Efficiency 1
| 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 | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 |
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 | $282M | $284M | · | $313M | $324M | $323M | · | $329M | $321M | $315M | · | $330M | $328M | $313M | · | $316M | |
| Net Income TTM | $-1M | $5M | · | $-10M | $-28M | $-9M | · | $-16M | $-21M | $-6M | · | $-22M | $-68M | $-58M | · | $-59M | |
| Market Cap | $321M | $265M | · | $280M | $264M | $295M | · | $324M | $316M | $313M | · | $265M | $310M | $274M | · | $283M | |
| P/E | -392.8 | 49.6 | · | -28.9 | -9.6 | -31.0 | · | -20.6 | -15.1 | -56.1 | · | -12.4 | -4.6 | -4.8 | · | -4.9 | |
| P/S | 1.1 | 0.9 | · | 0.9 | 0.8 | 0.9 | · | 1.0 | 1.0 | 1.0 | · | 0.8 | 0.9 | 0.9 | · | 0.9 | |
| P/B | 1.3 | 1.1 | · | 1.1 | 1.1 | 1.2 | · | 1.3 | 1.3 | 1.2 | · | 1.2 | 1.3 | 1.1 | · | 1.1 | |
| P / Tangible Book | 1.3 | 1.1 | · | 1.1 | 1.1 | 1.2 | · | 1.4 | 1.4 | 1.3 | · | 1.2 | 1.4 | 1.2 | · | 1.2 | |
| P / Cash Flow | · | -141.7 | · | · | · | 29.9 | · | · | · | 19.4 | · | · | · | -62.9 | · | · | |
| P / FCF | · | -138.6 | · | · | · | 29.9 | · | · | · | 19.4 | · | · | · | -59.0 | · | · | |
| Earnings Yield | -0.25% | 2.0% | · | -3.5% | -10.4% | -3.2% | · | -4.9% | -6.6% | -1.8% | · | -8.1% | -21.6% | -21.0% | · | -20.6% |
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 | $285M | $325M | $304M | $268M | $324M |
| Gross Margin % | 24.5% | 31.6% | 29.2% | 10.4% | 25.7% |
| Net Income | $-10M | $-6M | $-5M | $-53M | $8M |
| Diluted EPS | $-0.50 | $-0.29 | $-0.26 | $-2.49 | $0.39 |
Cash Flow
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Free Cash Flow | $-15M | $38M | $25M | $-32M | $28M |
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Institutional owners (13F) 83 filers · $42.0M total · As of June 30, 2026
Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.
Institutional activity — Q2 2026 vs prior quarter
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 16 (+11 vs prior Q) | 5 (-1 vs prior Q) | 25 (+6 vs prior Q) | 20 (-5 vs prior Q) | +358K |
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 |
|---|---|---|---|---|
| Newtyn Management, LLC | $10,525,700 | 670,000 | 25.04% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $4,990,282 | 317,650 | 11.87% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $4,527,151 | 288,170 | 10.77% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $2,416,043 | 153,750 | 5.75% | Shares |
| STATE STREET CORP | $2,119,059 | 134,886 | 5.04% | Shares |
| Minerva Advisors LLC | $2,040,729 | 129,900 | 4.86% | Shares |
| TCW GROUP INC | $1,993,583 | 126,899 | 4.74% | Shares |
| Orchard Capital Management, LLC | $1,896,857 | 120,742 | 4.51% | Shares |
| RENAISSANCE TECHNOLOGIES LLC | $1,460,889 | 92,991 | 3.48% | Shares |
| Universal- Beteiligungs- und Servicegesellschaft mbH | $1,108,278 | 70,546 | 2.64% | Shares |
| BRIDGEWAY CAPITAL MANAGEMENT, LLC | $1,044,307 | 66,474 | 2.48% | Shares |
| Arbiter Partners Capital Management LLC | $983,320 | 62,592 | 2.34% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $797,597 | 50,770 | 1.90% | Shares |
| CALDWELL SUTTER CAPITAL, INC. | $698,608 | 44,469 | 1.66% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $698,592 | 44,468 | 1.66% | Shares |
| BOOTHBAY FUND MANAGEMENT, LLC | $662,962 | 42,200 | 1.58% | Shares |
| VANGUARD GROUP INC | $627,308 | 47,166 | 1.49% | Shares |
| BlackRock, Inc. | $530,181 | 33,748 | 1.26% | Shares |
| Empowered Funds, LLC | $486,602 | 30,974 | 1.16% | Shares |
| GOLDMAN SACHS GROUP INC | $416,064 | 26,484 | 0.99% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $397,919 | 25,329 | 0.95% | Shares |
| CITADEL ADVISORS LLC | $285,278 | 18,159 | 0.68% | Shares |
| Creative Planning | $223,035 | 14,197 | 0.53% | Shares |
| Russell Investments Group, Ltd. | $162,033 | 10,314 | 0.39% | Shares |
| RHUMBLINE ADVISERS | $146,878 | 9,350 | 0.35% | Shares |
| DEUTSCHE BANK AG\ | $103,733 | 6,603 | 0.25% | Shares |
| Bank of New York Mellon Corp | $95,265 | 6,064 | 0.23% | Shares |
| Vanguard Global Advisers, LLC | $66,296 | 4,220 | 0.16% | Shares |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. | $48,905 | 3,113 | 0.12% | Shares |
| US BANCORP \DE\ | $47,130 | 3,000 | 0.11% | Shares |
| CITIGROUP INC | $42,841 | 2,727 | 0.10% | Shares |
| BARCLAYS PLC | $41,145 | 2,619 | 0.10% | Shares |
| Police & Firemen's Retirement System of New Jersey | $30,022 | 1,911 | 0.07% | Shares |
| BNP PARIBAS FINANCIAL MARKETS | $28,545 | 1,817 | 0.07% | Shares |
| OSAIC HOLDINGS, INC. | $27,130 | 1,727 | 0.06% | Shares |
| M3F, Inc. | $24,382 | 1,552,020 | 0.06% | Shares |
| AE Wealth Management LLC | $22,073 | 1,405 | 0.05% | Shares |
| JPMORGAN CHASE & CO | $19,844 | 1,252 | 0.05% | Shares |
| MERCER GLOBAL ADVISORS INC /ADV | $19,480 | 1,240 | 0.05% | Shares |
| NISA INVESTMENT ADVISORS, LLC | $16,008 | 1,019 | 0.04% | Shares |
| FMR LLC | $15,553 | 990 | 0.04% | Shares |
| CIBC Private Wealth Group LLC | $15,458 | 1,140 | 0.04% | Shares |
| NORTHERN TRUST CORP | $14,830 | 944 | 0.04% | Shares |
| Ameritas Investment Partners, Inc. | $14,186 | 903 | 0.03% | Shares |
| CWM, LLC | $13,186 | 1,023 | 0.03% | Shares |
| THOMPSON INVESTMENT MANAGEMENT, INC. | $12,332 | 785 | 0.03% | Shares |
| Tower Research Capital LLC (TRC) | $11,892 | 757 | 0.03% | Shares |
| Legal & General Group Plc | $10,746 | 684 | 0.03% | Shares |
| Arax Advisory Partners | $10,384 | 661 | 0.02% | Shares |
| ROYAL BANK OF CANADA | $6,000 | 360 | 0.01% | Shares |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM | $4,769 | 370 | 0.01% | Shares |
| NewEdge Advisors, LLC | $3,928 | 250 | 0.01% | Shares |
| MassMutual Private Wealth & Trust, FSB | $3,582 | 228 | 0.01% | Shares |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC | $3,248 | 252 | 0.01% | Shares |
| Nuveen, LLC | $2,953 | 188 | 0.01% | Shares |
| Nuveen Asset Management, LLC | $2,952 | 188 | 0.01% | Shares |
| Sterling Capital Management LLC | $2,011 | 128 | 0.00% | Shares |
| PNC Financial Services Group, Inc. | $1,760 | 112 | 0.00% | Shares |
| Cornerstone Planning Group LLC | $1,352 | 85 | 0.00% | Shares |
| UBS Group AG | $1,288 | 82 | 0.00% | Shares |
| Essential Partners LLC | $1,194 | 76 | 0.00% | Shares |
| WELLS FARGO & COMPANY/MN | $1,037 | 66 | 0.00% | Shares |
| Integrated Wealth Concepts LLC | $771 | 49 | 0.00% | Shares |
| Allworth Financial LP | $739 | 47 | 0.00% | Shares |
| Physician Wealth Advisors, Inc. | $629 | 40 | 0.00% | Shares |
| Rialto Wealth Management, LLC | $613 | 39 | 0.00% | Shares |
| Bogart Wealth, LLC | $566 | 36 | 0.00% | Shares |
| Bare Financial Services, Inc | $566 | 36 | 0.00% | Shares |
| JONES FINANCIAL COMPANIES LLLP | $408 | 25 | 0.00% | Shares |
| AQR CAPITAL MANAGEMENT LLC | $377 | 24 | 0.00% | Shares |
| GAMMA Investing LLC | $330 | 21 | 0.00% | Shares |
| Asset Allocation & Management Company, LLC | $300 | 19,089 | 0.00% | Shares |
| IFP Advisors, Inc | $298 | 19 | 0.00% | Shares |
| NEW YORK STATE COMMON RETIREMENT FUND | $298 | 19 | 0.00% | Shares |
| ROTHSCHILD INVESTMENT LLC | $220 | 14 | 0.00% | Shares |
| MORGAN STANLEY | $189 | 12 | 0.00% | Shares |
| True Wealth Design, LLC | $126 | 8 | 0.00% | Shares |
| Farther Finance Advisors, LLC | $95 | 6 | 0.00% | Shares |
| Optiver Holding B.V. | $94 | 6 | 0.00% | Shares |
| Clearstead Advisors, LLC | $32 | 2 | 0.00% | Shares |
| Wealth Enhancement Trust Services, Inc. | $31 | 2 | 0.00% | Shares |
| EverSource Wealth Advisors, LLC | $16 | 1 | 0.00% | Shares |
| Avion Wealth | $0 | 40 | 0.00% | Shares |
Company insiders 16 insiders · 9 officers · 10 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Cindy Launer | Chief Executive Officer | March 2, 2026 A | 90,800 | 0 | 0 | $0 |
| Seth C. Daggett | Chief Executive Officer | March 3, 2025 A | 90,420 | 0 | 0 | $0 |
| Michael J. Alexander | President & CEO | March 1, 2024 A | 261,962 | 0 | 0 | $0 |
| Matthew James Maki | Chief Financial Officer | March 2, 2026 A | 61,723 | 0 | 0 | $0 |
| Brian R. Doom | Executive Vice President & CFO | March 1, 2021 A | 72,026 | 0 | 0 | $0 |
| Douglas Alan Duncan | Chief Information Officer | March 2, 2026 A | 11,100 | 0 | 0 | $0 |
| Kevin Douglas Elfstrand | Chief Accounting Officer | March 2, 2026 A | 23,243 | 0 | 0 | $0 |
| Patrick W. Duncan | SVP, Operations | March 1, 2024 A | 44,003 | 0 | 0 | $0 |
| Timothy J. Milius | VP/Chief Acct. Off/Corp. Secy | March 1, 2022 A | 23,730 | 0 | 0 | $0 |
| Dave L. Stende | Director | May 21, 2025 A | 3,924 | 0 | 0 | $0 |
| Prakash Mathew | Director | May 21, 2025 A | 11,124 | 0 | 0 | $0 |
| William Russell Devlin | Director | May 21, 2025 A | 31,724 | 0 | 0 | $0 |
| Eric K. Aasmundstad | Director | May 21, 2025 A | 36,138 | 0 | 0 | $0 |
| Jeffrey R. Missling | Director | May 21, 2025 A | 27,724 | 0 | 0 | $0 |
| Duaine Espegard | Director | May 21, 2025 A | 36,724 | 0 | 0 | $0 |
| Stephen V. Marlow | Director | May 22, 2024 A | 25,300 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
Activists & 5%+ owners 1 position
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 |
|---|---|---|---|---|---|
| Jeffrey Thorp ×2 filings | Oct. 18, 2024 | — | 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 22 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 |
|---|---|---|---|---|
| IWC · iShares Trust | 0.02% | 23,099 SH | Aug. 8, 2026 | Daily |
| VTWV · VANGUARD SCOTTSDALE FUNDS | 0.01% | 5,624 SH | Aug. 8, 2026 | Daily |
| IWN · iShares Trust | 0.01% | 80,150 SH | Aug. 8, 2026 | Daily |
| IWM · iShares Trust | 0.00% | 181,376 SH | Aug. 8, 2026 | Daily |
| DFAS · Dimensional ETF Trust | 0.00% | 34,896 NS | April 30, 2026 | N-PORT |
| RSSL · Global X Funds | 0.00% | 3,171 NS | April 30, 2026 | N-PORT |
| ITWO · ProShares Trust | 0.00% | 322 NS | May 31, 2026 | N-PORT |
| DFAT · Dimensional ETF Trust | 0.00% | 24,687 NS | April 30, 2026 | N-PORT |
| UWM · ProShares Trust | 0.00% | 252 NS | May 31, 2026 | N-PORT |
| URTY · ProShares Trust | 0.00% | 254 NS | May 31, 2026 | N-PORT |
| DFAC · Dimensional ETF Trust | 0.00% | 25,910 NS | April 30, 2026 | N-PORT |
| MSSM · MORGAN STANLEY PATHWAY FUNDS | 0.00% | 366 NS | May 31, 2026 | N-PORT |
| HDG · ProShares Trust | 0.00% | 6 NS | May 31, 2026 | N-PORT |
| DFSU · Dimensional ETF Trust | 0.00% | 720 NS | April 30, 2026 | N-PORT |
| DCOR · Dimensional ETF Trust | 0.00% | 882 NS | April 30, 2026 | N-PORT |
| DFUS · Dimensional ETF Trust | 0.00% | 1,051 NS | April 30, 2026 | N-PORT |
| VXF · VANGUARD INDEX FUNDS | 0.00% | 93,070 SH | Aug. 8, 2026 | Daily |
| VTI · VANGUARD INDEX FUNDS | 0.00% | 187,610 SH | Aug. 8, 2026 | Daily |
| VTWO · VANGUARD SCOTTSDALE FUNDS | 0.00% | 38,402 SH | Aug. 8, 2026 | Daily |
| VTHR · VANGUARD SCOTTSDALE FUNDS | 0.00% | 442 SH | Aug. 8, 2026 | Daily |
| DFAU · Dimensional ETF Trust | 0.00% | 16 NS | April 30, 2026 | N-PORT |
| DXUV · Dimensional ETF Trust | 0.00% | 12 NS | April 30, 2026 | N-PORT |