NVCR NovoCure Limited - Ordinary Shares
$18.00
Price · Aug 19, 2026
Fundamentals as of Jul 23, 2026
52W Range
$10–$21
70% of range
Analyst Rating
BUY
13 analysts
Price Target
$27
+51% upside
P/E (TTM)
-14.8
ROE
-39.5%
Net Profit Margin
-20.8%
NVCR Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$18.00
Market Cap
$2.02B
P/E (TTM)
-14.8
EPS (TTM)
$-1.22
Revenue (TTM)
$655M
Div Yield
—
ROE
-39.5%
Debt/Equity
0.6
52W Range
$10 – $21
NVCR Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view
Configure
10-Year Performance Revenue, net income, margins and EPS trends
Revenue & Net Income
$655M
2016-12-31
→
2025-12-31
EPS
$-1.22
2018-12-31
→
2025-12-31
Free Cash Flow
$-76M
2017-12-31
→
2025-12-31
Margins
-20.8%
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
NVCR
Peer Median
P/E (TTM)
-14.8
29.1
P/S (TTM)
3.1
1.8
P/B
5.9
2.5
EV / EBITDA
-13.8
—
Price / FCF
-26.8
—
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Metric
5Y trend
NVCR
Peer Median
Gross Margin
74.5%
54.5%
Operating Margin
-23.5%
—
Net Profit Margin
-20.8%
-3.3%
ROA
-13.3%
-1.6%
ROE
-39.5%
-2.3%
ROIC
-28.7%
—
Financial Health Debt, liquidity, solvency — balance sheet strength
Metric
5Y trend
NVCR
Peer Median
Debt / Equity
0.6
19.8
Current Ratio
2.9
2.4
Quick Ratio
0.8
—
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Metric
5Y trend
NVCR
Peer Median
Revenue YoY
8.3%
—
Revenue CAGR 3Y
6.8%
—
Revenue CAGR 5Y
5.8%
—
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
Metric
5Y trend
NVCR
Peer Median
NVCR Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
BUY
13 analysts
- Strong Buy 3 23.1%
- Buy 6 46.2%
- Hold 4 30.8%
- Sell 0 0.0%
- Strong Sell 0 0.0%
12-Month Price Target
7 analysts · 2026-08-13
Median
$25.00
Now
$18.00
Low
$17.00
High
$52.00
Median target
$25.00
+38.9%
Mean target
$27.14
+50.8%
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
0.09%
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| June 30, 2026 | $-0.17 | $-0.34 | 0.17% |
| March 31, 2026 | $-0.62 | $-0.52 | -0.10% |
| Dec. 31, 2025 | $-0.22 | $-0.42 | 0.20% |
| Sept. 30, 2025 | $-0.33 | $-0.43 | 0.10% |
| June 30, 2025 | $-0.36 | $-0.39 | 0.03% |
| March 31, 2025 | $-0.31 | $-0.47 | 0.16% |
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 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $655M | $605M | $509M | $538M | $535M | $494M | $351M | $248M | $177M | $83M | $33M | $15M | |
| Cost of Revenue | $167M | $137M | $128M | $115M | $115M | $107M | $89M | $80M | $56M | $40M | $21M | $10M | |
| Gross Profit | $488M | $468M | $381M | $423M | $420M | $388M | $263M | $168M | $121M | $37M | $12M | $5M | |
| R&D Expense | $225M | $210M | $223M | $206M | $201M | $132M | $79M | $51M | $38M | $41M | $44M | $40M | |
| SG&A Expense | $178M | $190M | $164M | $133M | $126M | $107M | $88M | $73M | $59M | $51M | $34M | $24M | |
| Operating Expenses | $642M | $639M | $614M | $512M | $464M | $357M | $264M | $202M | $161M | $152M | $116M | $86M | |
| Operating Income | $-154M | $-170M | $-233M | $-90M | $-44M | $30M | $-914.0K | $-34M | $-39M | $-115M | $-104M | $-80M | |
| Interest Expense | $22M | $12M | $5M | $8M | $9M | $18M | $15M | $17M | $12M | $7M | $3M | $287.0K | |
| Interest Income | $13M | $23M | $20M | $11M | $791.0K | $2M | $4M | $3M | $1M | $659.0K | $84.0K | $143.0K | |
| Pretax Income | $-136M | $-131M | $-192M | $-82M | $-52M | $18M | $-9M | $-46M | $-48M | $-121M | $-107M | $-80M | |
| Income Tax | $-23.0K | $37M | $15M | $11M | $6M | $-2M | $-2M | $18M | $13M | $10M | $4M | $382.0K | |
| Net Income | $-136M | $-169M | $-207M | $-93M | $-58M | $20M | $-7M | $-64M | $-62M | $-132M | $-112M | $-81M | |
| EPS (Basic) | $-1.22 | $-1.56 | $-1.95 | $-0.88 | $-0.56 | $0.20 | $-0.07 | $-0.69 | · | · | · | · | |
| EPS (Diluted) | $-1.22 | $-1.56 | $-1.95 | $-0.88 | $-0.56 | $0.18 | $-0.07 | $-0.69 | · | · | · | · | |
| Shares (Basic) | 111,471,991 | 107,834,368 | 106,391,178 | 104,660,476 | 103,433,274 | 100,930,866 | 97,237,549 | 91,828,043 | · | · | · | · | |
| Shares (Diluted) | 111,471,991 | 107,834,368 | 106,391,178 | 104,660,476 | 103,433,274 | 108,877,648 | 97,237,549 | 91,828,043 | · | · | · | · | |
| EBITDA | $-154M | $-170M | $-233M | $-90M | $-44M | $30M | $-914.0K | $-34M | $-39M | · | $-104M | · |
Balance Sheet 24
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $94M | $164M | $241M | $115M | $209M | $235M | $177M | $141M | $79M | $100M | $119M | $58M | |
| Receivables | $89M | $74M | $61M | $86M | $94M | $97M | $59M | $37M | $30M | $6M | $0 | · | |
| Inventory | $41M | $35M | $38M | $29M | $24M | $27M | $24M | $23M | $22M | $26M | $14M | $3M | |
| Prepaid Expense | $10M | $7M | $7M | $6M | $5M | $4M | $2M | $4M | $3M | $2M | $1M | $853.0K | |
| Current Assets | $647M | $1.11B | $1.03B | $1.11B | $1.07B | $999M | $440M | $321M | $245M | $262M | $294M | $112M | |
| PP&E (Net) | $78M | $78M | $51M | $33M | $23M | $11M | $9M | $8M | $9M | $10M | $7M | $4M | |
| PP&E (Gross) | $119M | $110M | $79M | $56M | $45M | $30M | $24M | $20M | $18M | $16M | $10M | $6M | |
| Accum. Depreciation | $42M | $32M | $28M | $24M | $22M | $18M | $15M | $12M | $9M | $6M | $4M | $2M | |
| Other Non-current Assets | $11M | $15M | $14M | $11M | $12M | $11M | $5M | $3M | $2M | $2M | $772.0K | $227.0K | |
| Total Assets | $804M | $1.24B | $1.15B | $1.19B | $1.14B | $1.05B | $479M | $340M | $265M | $282M | $307M | $118M | |
| Current Liabilities | $223M | $756M | $179M | $159M | $143M | $114M | $86M | $65M | $50M | $37M | $29M | $18M | |
| Capital Leases | $42M | $20M | $27M | $19M | $13M | $14M | $14M | $0 | · | · | · | · | |
| Deferred Tax | · | · | · | · | · | · | $0 | $124.0K | · | · | · | · | |
| Other Non-current Liabilities | · | $18.0K | $18.0K | $148.0K | $166.0K | $337.0K | $222.0K | $1M | $2M | $4M | $3M | $2M | |
| Total Liabilities | $464M | $881M | $784M | $750M | $729M | $575M | $262M | $228M | $152M | $140M | $57M | $20M | |
| Long-term Debt | · | · | $569M | $566M | $562M | $430M | $149M | · | · | · | · | · | |
| Total Debt | $195M | $97M | $569M | $566M | $562M | $430M | $149M | $149M | $97M | · | $23M | · | |
| Common Stock | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Paid-in Capital | $1.63B | $1.52B | $1.35B | $1.22B | $1.10B | $1.11B | $871M | $757M | $697M | $664M | $640M | $374M | |
| Retained Earnings | $-1.29B | $-1.15B | $-986M | $-778M | $-686M | $-631M | $-651M | $-644M | $-582M | $-520M | $-388M | $-276M | |
| AOCI | $-3M | $-6M | $-5M | $-2M | $-3M | $-4M | $-3M | $-1M | $-1M | $-2M | $-2M | $0 | |
| Stockholders' Equity | $340M | $360M | $362M | $441M | $410M | $477M | $218M | $112M | $114M | $142M | $251M | $98M | |
| Liabilities + Equity | $804M | $1.24B | $1.15B | $1.19B | $1.14B | $1.05B | $479M | $340M | $265M | $282M | $307M | $118M | |
| Shares Outstanding | 112,492,667 | 108,516,819 | 107,075,754 | 105,049,411 | 103,971,263 | 102,334,276 | 99,528,435 | 93,254,185 | 89,478,032 | 87,066,446 | 83,778,581 | 13,431,414 |
Cash Flow 17
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $15M | $11M | $11M | $11M | $10M | $9M | $8M | $9M | $8M | $6M | $3M | $2M | |
| Stock-based Comp | $105M | $160M | $116M | $107M | $95M | $76M | $52M | $40M | $27M | $22M | $12M | $5M | |
| Deferred Tax | $0 | $0 | $0 | $0 | $0 | $0 | $144.0K | $348.0K | $-354.0K | $17.0K | $-135.0K | $-7.0K | |
| Operating Cash Flow | $-49M | $-26M | $-73M | $31M | $83M | $99M | $27M | $-2M | $-33M | $-108M | $-100M | $-74M | |
| CapEx | $27M | $43M | $27M | $21M | $24M | $15M | $10M | $7M | $7M | $6M | $5M | $849.0K | |
| Investing Cash Flow | $437M | $-140M | $184M | $-140M | $-145M | $-473M | $-52M | $-5M | $9M | $13M | · | · | |
| Debt Issued | $100M | $97M | $0 | $0 | · | $558M | $0 | $149M | $19.0K | $73M | $23M | · | |
| Net Debt Issued | $-461M | $84M | $-10.0K | $-28.0K | $-26.0K | $408M | $-31.0K | $49M | · | · | $23M | · | |
| Stock Issued | $4M | $4M | $4M | $5M | $5M | $3M | $2M | $2M | $2M | $616.0K | $252M | · | |
| Stock Repurchased | · | · | · | · | · | · | · | · | · | · | $5.0K | · | |
| Net Stock Activity | $4M | $4M | $4M | $5M | $5M | $3M | $2M | $2M | $2M | · | $252M | · | |
| Dividends Paid | · | · | · | · | · | · | · | · | $0 | $0 | $0 | · | |
| Financing Cash Flow | $-451M | $90M | $16M | $15M | $26M | $440M | $62M | $69M | $5M | $75M | · | · | |
| Net Change in Cash | $-63M | $-76M | $127M | $-94M | $-37M | $67M | $37M | $62M | $-19M | $-20M | $62M | $-118M | |
| Taxes Paid | $31M | $23M | $14M | $5M | $3M | $-3M | $11M | $20M | $10M | $9M | $1M | $282.0K | |
| Free Cash Flow | $-76M | $-69M | $-100M | $9M | $59M | $84M | $16M | $-5M | $-36M | · | $-105M | · | |
| Levered FCF | $-98M | $-84M | $-106M | $257.6K | $49M | $64M | $4M | $-28M | $-50M | · | $-108M | · |
Profitability 8
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 74.5% | 77.3% | 74.8% | 78.6% | 78.5% | 78.5% | 74.8% | 67.7% | 68.6% | · | 37.7% | · | |
| Operating Margin | -23.5% | -28.2% | -45.7% | -16.6% | -8.3% | 6.2% | -0.26% | -13.6% | -22.2% | · | -314.3% | · | |
| Net Margin | -20.8% | -27.9% | -40.6% | -17.2% | -10.9% | 4.0% | -2.1% | -25.6% | -34.8% | · | -337.2% | · | |
| Pretax Margin | -20.8% | -21.7% | -37.6% | -15.2% | -9.7% | 3.7% | -2.5% | -18.5% | -27.4% | · | -323.8% | · | |
| EBITDA Margin | -23.5% | -28.2% | -45.7% | -16.6% | -8.3% | 6.2% | -0.26% | -13.6% | -22.2% | · | -314.3% | · | |
| ROA | -13.3% | -14.1% | -17.7% | -7.9% | -5.3% | 2.6% | -1.8% | -21.0% | -22.5% | · | -52.5% | · | |
| ROE | -39.5% | -46.8% | -54.8% | -20.9% | -14.2% | 5.1% | -3.5% | -56.0% | -48.2% | · | -64.0% | · | |
| ROIC | -28.7% | -47.9% | -27.0% | -10.1% | -5.1% | 3.7% | -0.20% | -17.8% | -23.7% | · | -39.5% | · |
Liquidity & Solvency 5
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.9 | 1.5 | 5.8 | 7.0 | 7.5 | 8.8 | 5.1 | 5.0 | 4.9 | · | 10.3 | · | |
| Quick Ratio | 0.8 | 0.3 | 1.7 | 1.3 | 2.1 | 2.9 | 2.7 | 2.7 | 2.2 | · | 4.2 | · | |
| Debt / Equity | 0.6 | 0.3 | 1.6 | 1.3 | 1.4 | 0.9 | 0.7 | 1.3 | 0.9 | · | 0.1 | · | |
| LT Debt / Equity | 0.6 | 0.3 | 1.6 | 1.3 | 1.4 | 0.9 | 0.7 | 1.3 | 0.9 | · | 0.1 | · | |
| Interest Coverage | -6.9 | -14.6 | -47.5 | -11.0 | -5.0 | 1.7 | -0.1 | -2.0 | -3.4 | · | -32.1 | · |
Efficiency 3
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.6 | 0.5 | 0.4 | 0.5 | 0.5 | 0.6 | 0.9 | 0.8 | 0.6 | · | 0.2 | · | |
| Inventory Turnover | 4.4 | 3.7 | 3.8 | 4.3 | 4.4 | 4.2 | 3.8 | 3.6 | 2.3 | · | 2.4 | · | |
| Receivables Turnover | 8.0 | 8.9 | 6.9 | 6.0 | 5.6 | 6.4 | 7.4 | 7.5 | 9.9 | · | · | · |
Growth Rates 3
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue YoY | 8.3% | 18.8% | -5.3% | 0.53% | 8.2% | · | · | · | · | · | · | · | |
| Revenue CAGR 3Y | 6.8% | 4.2% | 1.0% | · | · | · | · | · | · | · | · | · | |
| Revenue CAGR 5Y | 5.8% | · | · | · | · | · | · | · | · | · | · | · |
Valuation (TTM) 17
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $655M | $605M | $509M | $538M | $535M | $494M | $351M | $248M | $177M | $83M | $33M | · | |
| Net Income TTM | $-136M | $-169M | $-207M | $-93M | $-58M | $20M | $-7M | $-64M | $-62M | $-132M | $-112M | · | |
| Market Cap | $1.45B | $3.23B | $1.60B | $7.71B | $7.81B | $17.71B | $8.39B | $3.12B | $1.81B | · | $1.87B | · | |
| Enterprise Value | $1.56B | $3.17B | $1.93B | $8.16B | $8.16B | $17.90B | $8.36B | $3.13B | $1.83B | · | $1.78B | · | |
| P/E | -10.6 | -19.1 | -7.7 | -83.4 | -134.1 | 961.3 | -1203.9 | -48.5 | · | · | · | · | |
| P/S | 2.2 | 5.3 | 3.1 | 14.3 | 14.6 | 35.8 | 23.9 | 12.6 | 10.2 | · | 56.6 | · | |
| P/B | 4.3 | 9.0 | 4.4 | 17.5 | 19.0 | 37.2 | 38.5 | 27.8 | 15.9 | · | 7.5 | · | |
| P / Tangible Book | 4.3 | 9.0 | 4.4 | 17.5 | 19.0 | 37.2 | · | · | · | · | · | · | |
| P / Cash Flow | -29.7 | -122.6 | -21.8 | 250.3 | 94.3 | 178.6 | 315.1 | -1674.1 | -54.5 | · | -18.8 | · | |
| P / FCF | -19.2 | -46.7 | -15.9 | 817.1 | 133.2 | 210.4 | 519.8 | -653.0 | -50.8 | · | -17.9 | · | |
| EV / EBITDA | -10.1 | -18.6 | -8.3 | -91.1 | -184.1 | 588.9 | -9145.9 | -93.0 | -46.4 | · | -17.1 | · | |
| EV / FCF | -20.6 | -45.8 | -19.2 | 864.9 | 139.3 | 212.7 | 518.1 | -654.8 | -51.3 | · | -17.0 | · | |
| EV / Revenue | 2.4 | 5.2 | 3.8 | 15.2 | 15.3 | 36.2 | 23.8 | 12.6 | 10.3 | · | 53.7 | · | |
| Dividend Yield | · | · | · | · | · | · | · | · | 0.00% | · | 0.00% | · | |
| Earnings Yield | -9.4% | -5.2% | -13.1% | -1.2% | -0.75% | 0.10% | -0.08% | -2.1% | · | · | · | · | |
| Payout Ratio | · | · | · | · | · | · | · | · | 0.00% | · | 0.00% | · | |
| Annual Payout | · | · | · | · | · | · | · | · | $0 | $0 | $0 | · |
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 | $184M | $174M | $174M | $167M | $159M | $155M | $161M | $155M | $150M | $139M | $134M | $127M | $126M | $122M | $128M | $131M | |
| Cost of Revenue | $41M | $39M | $42M | $45M | $41M | $39M | $33M | $35M | $35M | $34M | $33M | $32M | $34M | $30M | $29M | $30M | |
| Gross Profit | $142M | $135M | $132M | $122M | $117M | $116M | $128M | $120M | $116M | $105M | $101M | $95M | $92M | $93M | $100M | $101M | |
| R&D Expense | $51M | $58M | $61M | $54M | $56M | $54M | $51M | $52M | $55M | $52M | $54M | $54M | $55M | $60M | $55M | $52M | |
| SG&A Expense | $40M | $86M | $43M | $46M | $44M | $45M | $72M | $40M | $38M | $40M | $39M | $42M | $41M | $42M | $38M | $33M | |
| Operating Expenses | $153M | $203M | $173M | $158M | $157M | $154M | $191M | $152M | $149M | $146M | $153M | $153M | $155M | $153M | $143M | $126M | |
| Operating Income | $-11M | $-67M | $-40M | $-36M | $-40M | $-38M | $-63M | $-32M | $-34M | $-42M | $-52M | $-58M | $-63M | $-60M | $-43M | $-25M | |
| Pretax Income | $-12M | $-69M | $-41M | $-30M | $-35M | $-30M | $-55M | $-22M | $-23M | $-32M | $-39M | $-48M | $-54M | $-51M | $-33M | $-23M | |
| Income Tax | $3M | $2M | $-16M | $7M | $5M | $4M | $11M | $9M | $11M | $7M | $9M | $1M | $4M | $2M | $5M | $3M | |
| Net Income | $-16M | $-71M | $-24M | $-37M | $-40M | $-34M | $-66M | $-31M | $-33M | $-39M | $-47M | $-49M | $-57M | $-53M | $-37M | $-27M | |
| EPS (Basic) | $-0.13 | $-0.62 | $-0.22 | $-0.33 | $-0.36 | $-0.31 | $-0.61 | $-0.28 | $-0.31 | $-0.36 | $-0.45 | $-0.46 | $-0.54 | $-0.50 | $-0.36 | $-0.25 | |
| EPS (Diluted) | $-0.13 | $-0.62 | $-0.22 | $-0.33 | $-0.36 | $-0.31 | $-0.61 | $-0.28 | $-0.31 | $-0.36 | $-0.45 | $-0.46 | $-0.54 | $-0.50 | $-0.36 | $-0.25 | |
| Shares (Basic) | 116,012,397 | 114,149,838 | -222,290,284 | 111,908,252 | 111,572,191 | 110,281,832 | -215,379,830 | 108,247,716 | 107,700,284 | 107,266,198 | -212,337,781 | 106,772,814 | 106,289,073 | 105,667,072 | -209,038,016 | 104,884,583 | |
| Shares (Diluted) | 116,012,397 | 114,149,838 | -222,290,284 | 111,908,252 | 111,572,191 | 110,281,832 | -215,379,830 | 108,247,716 | 107,700,284 | 107,266,198 | -212,337,781 | 106,772,814 | 106,289,073 | 105,667,072 | -209,038,016 | 104,884,583 | |
| EBITDA | $-11M | $-67M | · | $-36M | $-40M | $-38M | · | $-32M | $-34M | $-42M | · | $-58M | $-63M | $-60M | · | $-25M |
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 | $94M | $88M | $94M | $342M | $150M | $127M | $164M | $185M | $165M | $454M | $241M | $155M | $157M | $186M | $115M | $244M | |
| Receivables | $99M | $93M | $89M | $85M | $90M | $85M | $74M | $67M | $65M | $65M | · | $65M | $71M | $75M | · | $88M | |
| Inventory | $42M | $43M | $41M | $39M | $40M | $39M | $35M | $39M | $40M | $42M | · | $37M | $33M | $32M | · | $27M | |
| Prepaid Expense | · | · | $10M | · | · | · | $7M | · | · | · | · | · | · | · | · | · | |
| Current Assets | $639M | $632M | $647M | $1.20B | $1.08B | $1.09B | $1.11B | $1.10B | $1.09B | $1.00B | · | $1.05B | $1.07B | $1.09B | · | $1.10B | |
| PP&E (Net) | $75M | $76M | $78M | $80M | $80M | $80M | $78M | $73M | $66M | $59M | · | $46M | $41M | $36M | · | $30M | |
| PP&E (Gross) | · | · | $119M | · | · | · | $110M | · | · | · | · | · | · | · | · | · | |
| Accum. Depreciation | · | · | $42M | · | · | · | $32M | · | · | · | · | · | · | · | · | · | |
| Other Non-current Assets | $11M | $11M | $11M | $12M | $16M | $14M | $15M | $12M | $12M | $15M | · | $12M | $15M | $11M | · | $11M | |
| Total Assets | $795M | $788M | $804M | $1.36B | $1.25B | $1.25B | $1.24B | $1.22B | $1.21B | $1.12B | · | $1.15B | $1.16B | $1.17B | · | $1.17B | |
| Current Liabilities | $221M | $218M | $223M | $776M | $750M | $743M | $756M | $735M | $169M | $160M | · | $157M | $150M | $149M | · | $141M | |
| Capital Leases | $38M | $39M | $42M | $43M | $43M | $40M | $20M | $21M | $22M | $26M | · | $22M | $20M | $20M | · | $15M | |
| Other Non-current Liabilities | · | · | · | $19.0K | $18.0K | $18.0K | · | $18.0K | $18.0K | $18.0K | · | $75.0K | $119.0K | $136.0K | · | $222.0K | |
| Total Liabilities | $457M | $457M | $464M | $1.02B | $896M | $887M | $881M | $861M | $850M | $762M | · | $753M | $743M | $742M | · | $729M | |
| Total Debt | · | · | · | · | · | · | · | · | · | $570M | · | $568M | $567M | $566M | · | $565M | |
| Common Stock | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | · | $0 | $0 | $0 | · | $0 | |
| Paid-in Capital | $1.72B | $1.70B | $1.63B | $1.61B | $1.58B | $1.55B | $1.52B | $1.45B | $1.42B | $1.39B | · | $1.33B | $1.31B | $1.27B | · | $1.19B | |
| Retained Earnings | $-1.38B | $-1.36B | $-1.29B | $-1.27B | $-1.23B | $-1.19B | $-1.15B | $-1.09B | $-1.06B | $-1.02B | · | $-938M | $-889M | $-832M | · | $-741M | |
| AOCI | $-3M | $-5M | $-3M | $-6M | $-5M | $-4M | $-6M | $-5M | $-4M | $-4M | · | $-2M | $-2M | $-3M | · | $-2M | |
| Stockholders' Equity | $338M | $331M | $340M | $341M | $349M | $362M | $360M | $361M | $362M | $359M | $362M | $394M | $416M | $432M | $441M | $445M | |
| Liabilities + Equity | $795M | $788M | $804M | $1.36B | $1.25B | $1.25B | $1.24B | $1.22B | $1.21B | $1.12B | · | $1.15B | $1.16B | $1.17B | · | $1.17B | |
| Shares Outstanding | 116,442,465 | 115,820,940 | 112,492,667 | 111,979,981 | 111,798,690 | 111,482,600 | 108,516,819 | 108,100,392 | 108,013,830 | 107,603,774 | · | 106,748,270 | 106,605,331 | 106,187,162 | · | 104,942,941 |
Cash Flow 13
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $4M | $4M | $4M | $4M | $3M | $3M | $3M | $2M | $3M | $3M | $3M | $3M | $3M | $3M | $3M | $3M | |
| Stock-based Comp | $17M | $63M | $20M | $29M | $26M | $30M | $63M | $31M | $32M | $34M | $17M | $26M | $33M | $39M | $30M | $26M | |
| Operating Cash Flow | $8M | $-14M | $-18M | $21M | $-16M | $-36M | $-3M | $10M | $-2M | $-32M | $-15M | $-19M | $-23M | $-17M | $-4M | $22M | |
| CapEx | $7M | $5M | $5M | $6M | $5M | $11M | $9M | $11M | $11M | $12M | $7M | $7M | $7M | $6M | $6M | $6M | |
| Investing Cash Flow | $-6M | $8M | $336M | $71M | $36M | $-6M | $-22M | $10M | $-374M | $246M | $98M | $17M | $-14M | $82M | $-128M | $-150M | |
| Debt Issued | $0 | $0 | $0 | $100M | $0 | $0 | $0 | $0 | $97M | $0 | $0 | $0 | $0 | · | · | · | |
| Net Debt Issued | $0 | $0 | · | $100M | $0 | $0 | · | $0 | $84M | $0 | · | $0 | $-3.0K | $-7.0K | · | $-7.0K | |
| Stock Issued | $2M | $0 | $2M | $0 | $2M | $0 | $2M | $0 | $2M | $0 | $2M | $0 | $3M | $0 | $2M | $0 | |
| Net Stock Activity | $2M | $0 | · | $0 | $2M | $0 | · | $0 | $2M | $0 | · | $0 | $3M | $0 | · | $0 | |
| Financing Cash Flow | $5M | $-166.0K | $-559M | $101M | $2M | $5M | $3M | $100.0K | $87M | $213.0K | $2M | $1M | $8M | $5M | $3M | $4M | |
| Net Change in Cash | $6M | $-6M | $-241M | $193M | $23M | $-37M | $-23M | $21M | $-289M | $215M | $86M | $-982.0K | $-29M | $71M | $-128M | $-124M | |
| Taxes Paid | $3M | $-4M | $8M | $3M | $14M | $5M | $6M | $7M | $8M | $3M | $5M | $1M | $6M | $2M | $2M | $907.0K | |
| Free Cash Flow | $1M | $-19M | · | $15M | $-21M | $-46M | · | $-307.0K | $-13M | $-43M | · | $-27M | $-30M | $-23M | · | $17M |
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 | 77.6% | 77.6% | · | 73.2% | 73.9% | 75.1% | · | 77.2% | 77.0% | 75.7% | · | 74.8% | 73.0% | 75.8% | · | 77.3% | |
| Operating Margin | -5.8% | -38.7% | · | -21.5% | -24.9% | -24.4% | · | -20.7% | -22.3% | -30.0% | · | -45.8% | -49.7% | -49.3% | · | -18.8% | |
| Net Margin | -8.5% | -40.9% | · | -22.3% | -25.3% | -22.1% | · | -19.7% | -22.2% | -28.0% | · | -38.9% | -45.6% | -43.4% | · | -20.3% | |
| Pretax Margin | -6.8% | -39.8% | · | -18.0% | -22.0% | -19.6% | · | -13.9% | -15.1% | -22.9% | · | -37.9% | -42.8% | -41.8% | · | -17.9% | |
| EBITDA Margin | -5.8% | -38.7% | · | -21.5% | -24.9% | -24.4% | · | -20.7% | -22.3% | -30.0% | · | -45.8% | -49.7% | -49.3% | · | -18.8% | |
| ROA | -1.5% | -7.0% | · | -2.9% | -3.3% | -2.9% | · | -2.6% | -2.8% | -3.4% | · | -4.3% | -5.0% | -4.6% | · | -2.3% | |
| ROE | -4.5% | -20.5% | · | -10.6% | -11.3% | -9.5% | · | -8.1% | -8.6% | -9.8% | · | -11.8% | -13.4% | -12.2% | · | -6.2% | |
| ROIC | -3.9% | -20.9% | · | -13.1% | -13.0% | -11.8% | · | -12.6% | -13.6% | -5.5% | · | -6.2% | -6.8% | -6.3% | · | -2.8% |
Liquidity & Solvency 4
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.9 | 2.9 | · | 1.5 | 1.4 | 1.5 | · | 1.5 | 6.5 | 6.3 | · | 6.7 | 7.1 | 7.3 | · | 7.8 | |
| Quick Ratio | 0.9 | 0.8 | · | 0.6 | 0.3 | 0.3 | · | 0.3 | 1.4 | 3.2 | · | 1.4 | 1.5 | 1.8 | · | 2.3 | |
| Debt / Equity | · | · | · | · | · | · | · | · | · | 1.6 | · | 1.4 | 1.4 | 1.3 | · | 1.3 | |
| LT Debt / Equity | · | · | · | · | · | · | · | · | · | 1.6 | · | 1.4 | 1.4 | 1.3 | · | 1.3 |
Efficiency 3
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.2 | 0.2 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | |
| Inventory Turnover | 1.0 | 0.9 | · | 1.1 | 1.0 | 0.9 | · | 0.9 | 0.9 | 0.9 | · | 1.0 | 1.1 | 1.0 | · | 1.2 | |
| Receivables Turnover | 1.9 | 2.0 | · | 2.2 | 2.1 | 2.1 | · | 2.3 | 2.2 | 2.0 | · | 1.7 | 1.5 | 1.4 | · | 1.4 |
Valuation (TTM) 14
| 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 | $684M | $655M | · | $636M | $619M | $599M | · | $571M | $542M | $514M | · | $504M | $508M | $522M | · | $543M | |
| Net Income TTM | $-164M | $-183M | · | $-142M | $-138M | $-137M | · | $-152M | $-179M | $-199M | · | $-197M | $-174M | $-141M | · | $-82M | |
| Market Cap | $1.76B | $1.26B | · | $1.45B | $1.99B | $1.99B | · | $1.69B | $1.85B | $1.68B | · | $1.72B | $4.42B | $6.39B | · | $7.97B | |
| Enterprise Value | · | · | · | · | · | · | · | · | · | $1.80B | · | $2.14B | $4.83B | $6.77B | · | $8.29B | |
| P/E | -10.5 | -6.7 | · | -10.1 | -14.1 | -14.1 | · | -11.1 | -10.3 | -8.4 | · | -8.7 | -25.2 | -44.9 | · | -98.7 | |
| P/S | 2.6 | 1.9 | · | 2.3 | 3.2 | 3.3 | · | 3.0 | 3.4 | 3.3 | · | 3.4 | 8.7 | 12.2 | · | 14.7 | |
| P/B | 5.2 | 3.8 | · | 4.2 | 5.7 | 5.5 | · | 4.7 | 5.1 | 4.7 | · | 4.4 | 10.6 | 14.8 | · | 17.9 | |
| P / Tangible Book | 5.2 | 3.8 | · | 4.2 | 5.7 | 5.5 | · | 4.7 | 5.1 | 4.7 | · | 4.4 | 10.6 | 14.8 | · | 17.9 | |
| P / Cash Flow | 216.9 | -93.4 | · | 70.3 | -124.9 | -55.7 | · | 162.8 | -1075.7 | -53.3 | · | -89.3 | -194.6 | -381.8 | · | 355.6 | |
| P / FCF | 1450.7 | -67.6 | · | 97.0 | -92.9 | -42.9 | · | -5503.6 | -140.5 | -38.8 | · | -64.9 | -149.1 | -279.9 | · | 477.0 | |
| EV / EBITDA | · | · | · | · | · | · | · | · | · | -43.3 | · | -36.7 | -77.2 | -112.3 | · | -337.0 | |
| EV / FCF | · | · | · | · | · | · | · | · | · | -41.5 | · | -80.4 | -162.9 | -296.6 | · | 496.2 | |
| EV / Revenue | · | · | · | · | · | · | · | · | · | 3.5 | · | 4.2 | 9.5 | 13.0 | · | 15.3 | |
| Earnings Yield | -9.5% | -14.9% | · | -9.9% | -7.1% | -7.1% | · | -9.0% | -9.8% | -11.9% | · | -11.5% | -4.0% | -2.2% | · | -1.0% |
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 | $655M | $605M | $509M | $538M | $535M |
| Gross Margin % | 74.5% | 77.3% | 74.8% | 78.6% | 78.5% |
| Operating Margin % | -23.5% | -28.2% | -45.7% | -16.6% | -8.3% |
| Net Income | $-136M | $-169M | $-207M | $-93M | $-58M |
| Diluted EPS | $-1.22 | $-1.56 | $-1.95 | $-0.88 | $-0.56 |
Balance Sheet
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Debt / Equity | 0.6 | 0.3 | 1.6 | 1.3 | 1.4 |
| Current Ratio | 2.9 | 1.5 | 5.8 | 7.0 | 7.5 |
| Quick Ratio | 0.8 | 0.3 | 1.7 | 1.3 | 2.1 |
Cash Flow
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Free Cash Flow | $-76M | $-69M | $-100M | $9M | $59M |
My Metrics Your personal watchlist — selected rows from Full Fundamentals
📊
Pick the metrics that matter to you — click the ➕ next to any row in Full Fundamentals above.
Your selection is saved and follows you across all tickers.
Institutional owners (13F) 245 filers · $991.0M 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 |
|---|---|---|---|---|
| 40 (+4 vs prior Q) | 33 (-12 vs prior Q) | 79 (+6 vs prior Q) | 67 (-5 vs prior Q) | +12.3M |
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 |
|---|---|---|---|---|
| Soleus Capital Management, L.P. | $150,188,025 | 9,913,401 | 15.15% | Shares |
| FMR LLC | $139,072,273 | 9,179,688 | 14.03% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $95,028,224 | 6,272,490 | 9.59% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $74,290,040 | 4,903,633 | 7.50% | Shares |
| STATE STREET CORP | $43,428,172 | 2,866,546 | 4.38% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $36,442,755 | 2,404,931 | 3.68% | Shares |
| Quantinno Capital Management LP | $33,685,343 | 2,223,455 | 3.40% | Shares |
| RENAISSANCE TECHNOLOGIES LLC | $29,571,452 | 1,951,911 | 2.98% | Shares |
| HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND | $20,991,840 | 1,385,600 | 2.12% | Shares |
| Palo Alto Investors LP | $19,398,651 | 1,280,439 | 1.96% | Shares |
| JACOBS LEVY EQUITY MANAGEMENT, INC | $17,635,691 | 1,164,072 | 1.78% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $15,600,122 | 1,029,711 | 1.57% | Shares |
| D. E. Shaw & Co., Inc. | $15,490,572 | 1,022,480 | 1.56% | Shares |
| SILVERCREST ASSET MANAGEMENT GROUP LLC | $14,070,411 | 928,740 | 1.42% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $13,993,601 | 923,670 | 1.41% | Shares |
| BNP PARIBAS FINANCIAL MARKETS | $13,968,436 | 922,009 | 1.41% | Shares |
| ALGERT GLOBAL LLC | $12,973,278 | 856,322 | 1.31% | Shares |
| Point72 Asset Management, L.P. | $12,167,268 | 803,120 | 1.23% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $11,400,845 | 752,531 | 1.15% | Shares |
| BANK OF AMERICA CORP /DE/ | $11,340,094 | 748,521 | 1.14% | Shares |
| GOLDMAN SACHS GROUP INC | $11,171,777 | 737,411 | 1.13% | Shares |
| Connor, Clark & Lunn Investment Management Ltd. | $9,992,743 | 659,587 | 1.01% | Shares |
| Qube Research & Technologies Ltd | $9,178,991 | 605,874 | 0.93% | Shares |
| PANAGORA ASSET MANAGEMENT INC | $8,191,408 | 540,687 | 0.83% | Shares |
| Balyasny Asset Management L.P. | $7,271,985 | 479,999 | 0.73% | Shares |
| ESSEX INVESTMENT MANAGEMENT CO LLC | $6,660,667 | 439,648 | 0.67% | Shares |
| SCHRODER INVESTMENT MANAGEMENT GROUP | $6,416,212 | 414,484 | 0.65% | Shares |
| CITIGROUP INC | $6,201,562 | 409,344 | 0.63% | Shares |
| BlackRock, Inc. | $6,122,842 | 404,148 | 0.62% | Shares |
| Cubist Systematic Strategies, LLC | $5,081,862 | 393,333 | 0.51% | Shares |
| AXA Investment Managers S.A. | $4,803,307 | 371,773 | 0.48% | Shares |
| Jump Financial, LLC | $4,716,937 | 311,349 | 0.48% | Shares |
| Coppell Advisory Solutions LLC | $4,556,081 | 19,412 | 0.46% | Shares |
| Susquehanna Portfolio Strategies, LLC | $4,374,896 | 288,772 | 0.44% | Shares |
| MILLENNIUM MANAGEMENT LLC | $4,212,730 | 278,068 | 0.43% | Shares |
| IEQ CAPITAL, LLC | $4,165,659 | 274,961 | 0.42% | Shares |
| TUDOR INVESTMENT CORP ET AL | $4,075,759 | 269,027 | 0.41% | Shares |
| BARCLAYS PLC | $3,607,109 | 238,093 | 0.36% | Shares |
| JANE STREET GROUP, LLC | $3,357,240 | 221,600 | 0.34% | Call option |
| CAPITAL FUND MANAGEMENT S.A. | $3,140,322 | 207,282 | 0.32% | Shares |
| Swiss National Bank | $3,113,325 | 205,500 | 0.31% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $3,011,820 | 198,800 | 0.30% | Call option |
| CITADEL ADVISORS LLC | $2,993,640 | 197,600 | 0.30% | Call option |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $2,639,797 | 174,244 | 0.27% | Shares |
| Trexquant Investment LP | $2,519,112 | 166,278 | 0.25% | Shares |
| TWO SIGMA ADVISERS, LP | $2,492,904 | 192,800 | 0.25% | Shares |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | $2,396,321 | 158,173 | 0.24% | Shares |
| FEDERATED HERMES, INC. | $2,265,470 | 149,536 | 0.23% | Shares |
| BAILLIE GIFFORD & CO | $2,179,358 | 143,852 | 0.22% | Shares |
| Hillsdale Investment Management Inc. | $2,149,785 | 141,900 | 0.22% | Shares |
| RHUMBLINE ADVISERS | $2,057,206 | 135,790 | 0.21% | Shares |
| FIRST TRUST ADVISORS LP | $1,917,929 | 126,596 | 0.19% | Shares |
| BURNEY CO/ | $1,896,068 | 125,153 | 0.19% | Shares |
| TRANSCEND CAPITAL ADVISORS, LLC | $1,775,903 | 117,221 | 0.18% | Shares |
| Bank of New York Mellon Corp | $1,586,129 | 104,695 | 0.16% | Shares |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM | $1,553,915 | 142,561 | 0.16% | Shares |
| Summit Trail Advisors, LLC | $1,497,032 | 98,814 | 0.15% | Shares |
| DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main | $1,496,607 | 98,786 | 0.15% | Shares |
| VANGUARD ASSET MANAGEMENT, Ltd | $1,477,640 | 97,534 | 0.15% | Shares |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. | $1,421,297 | 93,815 | 0.14% | Shares |
| ALLIANCEBERNSTEIN L.P. | $1,398,797 | 128,330 | 0.14% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $1,360,470 | 89,800 | 0.14% | Put option |
| WELLS FARGO & COMPANY/MN | $1,287,750 | 85,000 | 0.13% | Call option |
| DARK FOREST CAPITAL MANAGEMENT LP | $1,210,606 | 79,908 | 0.12% | Shares |
| LOS ANGELES CAPITAL MANAGEMENT LLC | $1,181,791 | 78,006 | 0.12% | Shares |
| Numerai GP LLC | $1,165,050 | 76,901 | 0.12% | Shares |
| JANE STREET GROUP, LLC | $1,128,175 | 74,467 | 0.11% | Shares |
| Focus Partners Wealth | $1,109,058 | 73,177 | 0.11% | Shares |
| FOX RUN MANAGEMENT, L.L.C. | $1,072,317 | 70,780 | 0.11% | Shares |
| Rhenman & Partners Asset Management AB | $1,060,500 | 70,000 | 0.11% | Shares |
| Engineers Gate Manager LP | $1,051,259 | 69,390 | 0.11% | Shares |
| MERCER GLOBAL ADVISORS INC /ADV | $1,034,669 | 68,295 | 0.10% | Shares |
| Mariner, LLC | $1,021,173 | 67,400 | 0.10% | Shares |
| Counterpoint Mutual Funds LLC | $1,012,762 | 66,849 | 0.10% | Shares |
| WEALTH ENHANCEMENT ADVISORY SERVICES, LLC | $1,006,802 | 61,767 | 0.10% | Shares |
| STRS OHIO | $971,115 | 64,100 | 0.10% | Shares |
| State of New Jersey Common Pension Fund D | $954,889 | 63,029 | 0.10% | Shares |
| MetLife Investment Management, LLC | $945,618 | 62,417 | 0.10% | Shares |
| Corient Private Wealth LP | $910,216 | 60,080 | 0.09% | Shares |
| JPMORGAN CHASE & CO | $864,991 | 55,878 | 0.09% | Shares |
| EXCHANGE TRADED CONCEPTS, LLC | $818,115 | 54,001 | 0.08% | Shares |
| AMERICAN CENTURY COMPANIES INC | $794,966 | 52,473 | 0.08% | Shares |
| DEUTSCHE BANK AG\ | $791,360 | 52,235 | 0.08% | Shares |
| MACKENZIE FINANCIAL CORP | $734,351 | 48,472 | 0.07% | Shares |
| VAN ECK ASSOCIATES CORP | $733,396 | 48,409 | 0.07% | Shares |
| Zurcher Kantonalbank (Zurich Cantonalbank) | $726,018 | 47,922 | 0.07% | Shares |
| UBS Group AG | $666,600 | 44,000 | 0.07% | Call option |
| Toroso Investments, LLC | $664,874 | 51,421 | 0.07% | Shares |
| Invesco Ltd. | $647,708 | 42,753 | 0.07% | Shares |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE | $635,012 | 41,915 | 0.06% | Shares |
| Bryce Point Capital, LLC | $632,757 | 48,975 | 0.06% | Shares |
| Chicago Partners Investment Group LLC | $614,293 | 30,730 | 0.06% | Shares |
| WOLVERINE TRADING, LLC | $603,364 | 46,700 | 0.06% | Call option |
| Vanguard Global Advisers, LLC | $601,455 | 39,700 | 0.06% | Shares |
| Aquatic Capital Management LLC | $594,819 | 39,262 | 0.06% | Shares |
| NEW YORK STATE COMMON RETIREMENT FUND | $586,199 | 38,693 | 0.06% | Shares |
| Universal- Beteiligungs- und Servicegesellschaft mbH | $555,277 | 36,652 | 0.06% | Shares |
| JANE STREET GROUP, LLC | $513,585 | 33,900 | 0.05% | Put option |
| INTECH INVESTMENT MANAGEMENT LLC | $493,587 | 32,580 | 0.05% | Shares |
| JANUS HENDERSON GROUP PLC | $490,725 | 45,000 | 0.05% | Shares |
Company insiders 30 insiders · 12 officers · 18 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Frank X Leonard | Chief Executive Officer | June 30, 2026 A | 461,425 | 0 | 1 | $-614,635 |
| Wilhelmus Cm Groenhuysen | CFO | Sept. 24, 2019 M | 87,179 | 0 | 0 | $0 |
| Michael J. Ambrogi | Chief Operating Officer | June 19, 2019 M | 185,674 | 0 | 0 | $0 |
| Michal Nath Puri | Chief Human Resources Officer | June 30, 2026 A | 203,227 | 0 | 0 | $0 |
| Arye Barak Ben | General Counsel | June 30, 2026 A | 243,752 | 0 | 0 | $0 |
| William F Doyle | Executive Chairman | March 3, 2026 A | 328,397 | 0 | 2 | $-933,086 |
| Todd Christopher Longsworth | General Counsel | Sept. 3, 2019 M | 53,900 | 0 | 0 | $0 |
| Pritesh Shah | Chief Commercial Officer | Aug. 22, 2019 J | 63,141 | 0 | 0 | $0 |
| Ely Benaim | Chief Medical Officer | July 30, 2019 A | 15,617 | 0 | 0 | $0 |
| Eilon D. Kirson | Chief Science Officer | Feb. 27, 2019 M | 152,408 | 0 | 0 | $0 |
| Yoram Palti | Chief Technology Officer | Aug. 28, 2018 S | 1,041,054 | 0 | 0 | $0 |
| Peter M. Melnyk | Chief Commercial Officer | Jan. 6, 2017 A | 2,403 | 0 | 0 | $0 |
| Asaf Danziger | Director | June 30, 2026 A | 416,742 | 0 | 0 | $0 |
| Kristin Stafford | Director | June 3, 2026 A | 22,934 | 0 | 1 | $-46,445 |
| Allyson J Ocean | Director | June 3, 2026 A | 22,934 | 0 | 1 | $-46,445 |
| Martin J. Madden | Director | June 3, 2026 A | 30,284 | 0 | 0 | $0 |
| Timothy J Scannell | Director | June 3, 2026 A | 25,898 | 0 | 1 | $-46,445 |
| Anthony W Vernon | Director | June 3, 2026 A | 209,267 | 0 | 1 | $-46,443 |
| David Hung | Director | June 3, 2026 A | 32,075 | 0 | 1 | $-46,443 |
| Gabriel Leung | Director | June 3, 2026 A | 101,109 | 0 | 1 | $-46,443 |
| Jeryl L Hilleman | Director | June 3, 2026 A | 25,471 | 0 | 1 | $-46,443 |
| Charles G Phillips III | Director | Aug. 30, 2019 M | 9,504 | 0 | 0 | $0 |
| Sherilyn S Mccoy | Director | May 22, 2019 A | 3,359 | 0 | 0 | $0 |
| William T. Burkoth | Director | May 21, 2019 M | 6,145 | 0 | 0 | $0 |
| Louis J Lavigne JR | Director | May 31, 2018 A | 7,403 | 0 | 0 | $0 |
| Gert L. Perlhagen | Director | May 10, 2017 A | 6,125,000 | 0 | 0 | $0 |
| Timothy J. Langloss | Director | May 5, 2016 M | 35,548 | 0 | 0 | $0 |
| Robert J Mylod JR | Director | May 4, 2016 A | 20,000 | 0 | 0 | $0 |
| Volati Ltd | 10% owner | Aug. 5, 2016 J | 7,216,789 | 0 | 0 | $0 |
| Hansjoerg Wyss | — | Dec. 20, 2019 G | 8,954,748 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
Activists & 5%+ owners 3 positions
Investors who filed SEC Schedule 13D — beneficial ownership above 5% with an intent to influence the issuer (activist stakes, board campaigns, M&A). Each row shows the most recent known state of that filer's position.
| Filer | Filed | Stake | Status | Purpose | Filing |
|---|---|---|---|---|---|
| Mr. Gert L. Perlhagen ×2 filings | Dec. 21, 2020 | — | Initial filing | — | SEC |
| Volati Limited | March 9, 2017 | — | Initial filing | — | SEC |
| Volati Limited (2) ×2 filings | Aug. 5, 2016 | — | Initial filing | Passive investment | 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 40 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 |
|---|---|---|---|---|
| HTEC · EXCHANGE TRADED CONCEPTS TRUST | 2.04% | 71,645 NS | April 30, 2026 | N-PORT |
| HEAL · Global X Funds | 1.32% | 19,356 NS | May 31, 2026 | N-PORT |
| PTH · Invesco Exchange-Traded Fund Trust | 0.65% | 98,547 SH | Aug. 8, 2026 | Daily |
| AGNG · Global X Funds | 0.48% | 23,028 NS | May 31, 2026 | N-PORT |
| QQQS · Invesco Exchange-Traded Fund Trust … | 0.48% | 6,563 SH | Aug. 8, 2026 | Daily |
| IHI · iShares Trust | 0.23% | 498,798 SH | Aug. 8, 2026 | Daily |
| NUSC · Nushares ETF Trust | 0.13% | 110,544 NS | April 30, 2026 | N-PORT |
| IBBQ · Invesco Exchange-Traded Fund Trust … | 0.13% | 6,306 SH | Aug. 8, 2026 | Daily |
| IBB · iShares Trust | 0.13% | 765,792 SH | Aug. 8, 2026 | Daily |
| IWO · iShares Trust | 0.10% | 895,789 SH | Aug. 8, 2026 | Daily |
| VTWG · VANGUARD SCOTTSDALE FUNDS | 0.09% | 106,663 SH | Aug. 8, 2026 | Daily |
| IWM · iShares Trust | 0.05% | 2,726,891 SH | Aug. 8, 2026 | Daily |
| ISCV · iShares Trust | 0.05% | 23,079 SH | Aug. 8, 2026 | Daily |
| VBK · VANGUARD INDEX FUNDS | 0.05% | 1,462,389 SH | Aug. 8, 2026 | Daily |
| VTWO · VANGUARD SCOTTSDALE FUNDS | 0.05% | 615,536 SH | Aug. 8, 2026 | Daily |
| PRFZ · Invesco Exchange-Traded Fund Trust | 0.05% | 84,608 SH | Aug. 8, 2026 | Daily |
| RSSL · Global X Funds | 0.05% | 43,997 NS | April 30, 2026 | N-PORT |
| ESML · iShares Trust | 0.04% | 79,284 SH | Aug. 8, 2026 | Daily |
| DFAS · Dimensional ETF Trust | 0.03% | 289,141 NS | April 30, 2026 | N-PORT |
| ISCB · iShares Trust | 0.03% | 4,686 SH | Aug. 8, 2026 | Daily |
| VXF · VANGUARD INDEX FUNDS | 0.02% | 1,210,169 SH | Aug. 8, 2026 | Daily |
| VB · VANGUARD INDEX FUNDS | 0.02% | 2,526,663 SH | Aug. 8, 2026 | Daily |
| VHT · VANGUARD WORLD FUND | 0.02% | 308,220 SH | Aug. 8, 2026 | Daily |
| AVSU · AMERICAN CENTURY ETF TRUST | 0.02% | 4,880 NS | May 31, 2026 | N-PORT |
| OMFS · Invesco Exchange-Traded Self-Indexe… | 0.02% | 2,958 SH | Aug. 8, 2026 | Daily |
| WSML · iShares Trust | 0.01% | 6,110 SH | Aug. 8, 2026 | Daily |
| VTWV · VANGUARD SCOTTSDALE FUNDS | 0.01% | 6,533 SH | Aug. 8, 2026 | Daily |
| MSSM · MORGAN STANLEY PATHWAY FUNDS | 0.01% | 3,902 NS | May 31, 2026 | N-PORT |
| IWN · iShares Trust | 0.01% | 73,980 SH | Aug. 8, 2026 | Daily |
| ITOT · iShares Trust | 0.00% | 135,763 SH | Aug. 8, 2026 | Daily |
| IWV · iShares Trust | 0.00% | 27,366 SH | Aug. 8, 2026 | Daily |
| DCOR · Dimensional ETF Trust | 0.00% | 3,287 NS | April 30, 2026 | N-PORT |
| DFUS · Dimensional ETF Trust | 0.00% | 20,930 NS | April 30, 2026 | N-PORT |
| DFSU · Dimensional ETF Trust | 0.00% | 2,137 NS | April 30, 2026 | N-PORT |
| DFAC · Dimensional ETF Trust | 0.00% | 40,482 NS | April 30, 2026 | N-PORT |
| DFAU · Dimensional ETF Trust | 0.00% | 7,332 NS | April 30, 2026 | N-PORT |
| VTI · VANGUARD INDEX FUNDS | 0.00% | 3,490,920 SH | Aug. 8, 2026 | Daily |
| VT · VANGUARD INTERNATIONAL EQUITY INDEX… | 0.00% | 91,130 SH | Aug. 8, 2026 | Daily |
| VTHR · VANGUARD SCOTTSDALE FUNDS | 0.00% | 8,639 SH | Aug. 8, 2026 | Daily |
| ESGV · VANGUARD WORLD FUND | 0.00% | 23,690 SH | Aug. 8, 2026 | Daily |