OM Outset Medical, Inc. - Common Stock
$4.32
Price · Aug 19, 2026
Fundamentals as of Aug 6, 2026
52W Range
$3–$16
10% of range
Analyst Rating
BUY
11 analysts
Price Target
$8
+77% upside
P/E (TTM)
-0.8
ROE
-58.0%
Net Profit Margin
-68.3%
OM Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$4.32
Market Cap
$78M
P/E (TTM)
-0.8
EPS (TTM)
$-5.37
Revenue (TTM)
$119M
Div Yield
—
ROE
-58.0%
Debt/Equity
0.8
52W Range
$3 – $16
OM 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
$119M
2018-12-31
→
2025-12-31
EPS
$-5.37
2020-12-31
→
2025-12-31
Free Cash Flow
$-47M
2020-12-31
→
2025-12-31
Margins
-68.3%
2020-12-31
→
2025-12-31
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Metric
5Y trend
OM
Peer Median
P/E (TTM)
-0.8
15.0
P/S (TTM)
0.7
3.0
P/B
0.6
2.9
EV / EBITDA
-0.1
—
Price / FCF
-1.7
—
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Metric
5Y trend
OM
Peer Median
Gross Margin
39.1%
66.0%
Operating Margin
-55.8%
—
Net Profit Margin
-68.3%
-61.9%
ROA
-30.2%
-33.8%
ROE
-58.0%
-74.4%
ROIC
-30.1%
—
Financial Health Debt, liquidity, solvency — balance sheet strength
Metric
5Y trend
OM
Peer Median
Debt / Equity
0.8
—
Current Ratio
6.7
3.6
Quick Ratio
5.2
—
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Metric
5Y trend
OM
Peer Median
Revenue YoY
5.1%
—
Revenue CAGR 3Y
1.2%
—
Revenue CAGR 5Y
19.1%
—
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
Metric
5Y trend
OM
Peer Median
OM Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
BUY
11 analysts
- Strong Buy 4 36.4%
- Buy 5 45.5%
- Hold 2 18.2%
- Sell 0 0.0%
- Strong Sell 0 0.0%
12-Month Price Target
3 analysts · 2026-08-13
Median
$7.00
Mean
$7.67
← Below all targets
$4.32
Low
$6.00
High
$10.00
Median target
$7.00
+62.0%
Mean target
$7.67
+77.5%
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
-0.39%
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| June 30, 2026 | $-0.80 | $-0.74 | -0.06% |
| March 31, 2026 | $-0.83 | $-0.81 | -0.02% |
| Dec. 31, 2025 | $-0.84 | $-0.66 | -0.18% |
| Sept. 30, 2025 | $-0.69 | $-0.67 | -0.02% |
| June 30, 2025 | $-0.84 | $-1.01 | 0.17% |
| March 31, 2025 | $-3.24 | $-0.97 | -2.3% |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| OM | $67M | -0.7 | 5.1% | -68.3% | -58.0% | 39.1% |
| HYPR | — | -2.3 | 5.2% | -262.3% | -93.5% | 49.8% |
| ECOR | $36M | -2.7 | 27.2% | -43.6% | 4686.6% | 86.8% |
| STEX | $151M | -0.3 | 122.2% | 29068.8% | -703.0% | — |
| VANI | $94M | -2.9 | — | — | -257.8% | — |
| CVRX | $187M | -3.5 | 10.4% | -94.1% | -109.6% | 85.3% |
| ABT | $250.18B | 33.7 | 5.7% | 14.7% | 13.1% | — |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement 17
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $119M | $114M | $130M | $115M | $103M | $50M | $15M | |
| Cost of Revenue | $73M | $75M | $101M | $98M | $95M | $63M | $33M | |
| Gross Profit | $47M | $39M | $29M | $18M | $8M | $-13M | $-18M | |
| R&D Expense | $21M | $38M | $57M | $49M | $37M | $29M | $23M | |
| SG&A Expense | $38M | $43M | $45M | $41M | $36M | $31M | $9M | |
| Operating Expenses | $113M | $152M | $199M | $179M | $138M | $104M | $53M | |
| Operating Income | $-67M | $-113M | $-170M | $-161M | $-131M | $-117M | $-70M | |
| Interest Expense | $14M | $24M | $13M | $4M | $2M | $3M | $4M | |
| Other Non-op | $7M | $10M | $10M | $3M | $498.0K | $526.0K | $2M | |
| Pretax Income | $-81M | $-127M | $-172M | $-163M | $-132M | $-121M | $-68M | |
| Income Tax | $718.0K | $491.0K | $523.0K | $295.0K | $199.0K | $0 | $20.0K | |
| Net Income | $-82M | $-128M | $-173M | $-163M | $-132M | $-121M | $-68M | |
| EPS (Basic) | $-5.37 | $-36.96 | $-52.28 | $-3.38 | $-2.89 | $-4.85 | · | |
| EPS (Diluted) | $-5.37 | $-36.96 | $-52.28 | $-3.38 | $-2.89 | $-4.85 | · | |
| Shares (Basic) | 15,211 | 3,463 | 3,305 | 48,161 | 45,589 | 16,358 | · | |
| Shares (Diluted) | 15,211 | 3,463 | 3,305 | 48,161 | 45,589 | 16,358 | · | |
| EBITDA | $-62M | $-108M | $-164M | $-156M | $-125M | $-114M | · |
Balance Sheet 23
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $35M | $124M | $69M | $73M | $182M | $295M | $37M | |
| Short-term Investments | $134M | $35M | $135M | $214M | $157M | $20M | $33M | |
| Receivables | $28M | $36M | $33M | $28M | $26M | $6M | $4M | |
| Inventory | $48M | $59M | $49M | $51M | $39M | $18M | $5M | |
| Prepaid Expense | $6M | $5M | $6M | $7M | $6M | $6M | $1M | |
| Current Assets | $251M | $258M | $291M | $374M | $410M | $346M | $80M | |
| PP&E (Net) | $5M | $8M | $13M | $16M | $13M | $15M | $8M | |
| PP&E (Gross) | $30M | $29M | $30M | $27M | $21M | $20M | $11M | |
| Accum. Depreciation | $25M | $21M | $16M | $11M | $8M | $5M | $3M | |
| Other Non-current Assets | $317.0K | $2M | $605.0K | $1M | $156.0K | $1M | $82.0K | |
| Total Assets | $264M | $276M | $314M | $400M | $463M | $404M | $88M | |
| Accounts Payable | $554.0K | $4M | $6M | $603.0K | $2M | $5M | $5M | |
| Current Liabilities | $38M | $45M | $55M | $52M | $52M | $37M | $25M | |
| Capital Leases | $3M | $3M | $4M | $6M | $7M | $8M | · | |
| Total Liabilities | $138M | $249M | $191M | $154M | $89M | $75M | $51M | |
| Long-term Debt | $96M | $197M | $130M | $96M | $30M | $30M | $29M | |
| Total Debt | $96M | $197M | $130M | $96M | $30M | $30M | · | |
| Common Stock | $18.0K | $4.0K | $50.0K | $48.0K | $47.0K | $43.0K | $1.0K | |
| Retained Earnings | $-1.17B | $-1.09B | $-962M | $-789M | $-626M | $-494M | $-373M | |
| AOCI | $172.0K | $42.0K | $68.0K | $-564.0K | $-184.0K | $1.0K | $22.0K | |
| Stockholders' Equity | $127M | $27M | $123M | $246M | $374M | $329M | $-372M | |
| Liabilities + Equity | $264M | $276M | $314M | $400M | $463M | $404M | $88M | |
| Shares Outstanding | 18,169,000 | 3,530,000 | 50,317,000 | 48,465,000 | 47,241,000 | 42,722,000 | 922,000 |
Cash Flow 15
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| D&A | $4M | $6M | $6M | $5M | $5M | $3M | $1M | |
| Stock-based Comp | $16M | $29M | $39M | $27M | $17M | $21M | $883.0K | |
| Restructuring | $34.0K | · | · | · | · | · | · | |
| Other Non-cash | $15M | $-23M | $-3M | $-15M | $-21M | $-2M | · | |
| Operating Cash Flow | $-46M | $-116M | $-131M | $-146M | $-130M | $-99M | $-70M | |
| CapEx | $798.0K | $912.0K | $3M | $8M | $3M | $9M | $3M | |
| Investing Cash Flow | $-98M | $104M | $83M | $-66M | $-143M | $4M | $74M | |
| Debt Issued | $98M | $67M | $33M | $96M | $0 | $30M | · | |
| Net Debt Issued | $98M | $67M | $33M | $96M | · | $30M | · | |
| Stock Issued | · | · | $0 | $0 | $149M | $255M | · | |
| Net Stock Activity | · | · | $0 | $0 | $149M | · | · | |
| Financing Cash Flow | $56M | $68M | $44M | $73M | $160M | $386M | $249.0K | |
| Net Change in Cash | $-89M | $56M | $-5M | $-139M | $-113M | $291M | $4M | |
| Free Cash Flow | $-47M | $-117M | $-135M | $-154M | $-133M | $-108M | · | |
| Levered FCF | $-61M | $-141M | $-148M | $-158M | $-135M | $-111M | · |
Profitability 8
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 39.1% | 33.9% | 22.2% | 15.5% | 7.4% | -26.1% | · | |
| Operating Margin | -55.8% | -99.7% | -130.2% | -139.6% | -127.2% | -235.2% | · | |
| Net Margin | -68.3% | -112.6% | -132.5% | -141.2% | -128.6% | -243.3% | · | |
| Pretax Margin | -67.7% | -112.1% | -132.1% | -141.0% | -128.4% | -243.3% | · | |
| EBITDA Margin | -52.2% | -94.7% | -125.8% | -135.1% | -122.2% | -228.9% | · | |
| ROA | -30.2% | -43.4% | -48.4% | -37.7% | -30.4% | -49.4% | · | |
| ROE | -58.0% | -342.9% | -125.7% | -62.1% | -33.7% | -35.6% | · | |
| ROIC | -30.1% | -50.8% | -67.3% | -47.1% | -32.4% | -32.8% | · |
Liquidity & Solvency 5
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Current Ratio | 6.7 | 5.7 | 5.3 | 7.2 | 7.9 | 9.4 | · | |
| Quick Ratio | 5.2 | 4.3 | 4.3 | 6.1 | 7.1 | 8.8 | · | |
| Debt / Equity | 0.8 | 7.4 | 1.1 | 0.4 | 0.1 | 0.1 | · | |
| LT Debt / Equity | 0.8 | 7.4 | 1.1 | 0.4 | 0.1 | 0.1 | · | |
| Interest Coverage | -4.8 | -4.7 | -13.4 | -45.2 | -76.1 | -40.6 | · |
Efficiency 3
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.4 | 0.4 | 0.4 | 0.3 | 0.2 | 0.2 | · | |
| Inventory Turnover | 1.4 | 1.4 | 2.0 | 2.2 | 3.3 | 5.5 | · | |
| Receivables Turnover | 3.7 | 3.3 | 4.3 | 4.3 | 6.4 | 9.6 | · |
Growth Rates 3
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Revenue YoY | 5.1% | -12.8% | 13.0% | 12.4% | 105.5% | · | · | |
| Revenue CAGR 3Y | 1.2% | 3.5% | 37.7% | · | · | · | · | |
| Revenue CAGR 5Y | 19.1% | · | · | · | · | · | · |
Valuation (TTM) 14
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $119M | $114M | $130M | $115M | $103M | $50M | · | |
| Net Income TTM | $-82M | $-128M | $-173M | $-163M | $-132M | $-121M | · | |
| Market Cap | $67M | $882M | $4.08B | $18.77B | $32.66B | $36.42B | · | |
| Enterprise Value | $-5M | $920M | $4.01B | $18.58B | $32.35B | $36.14B | · | |
| P/E | -0.7 | -0.5 | -1.6 | -114.6 | -239.2 | -175.8 | · | |
| P/S | 0.6 | 7.8 | 31.3 | 162.7 | 318.3 | 729.4 | · | |
| P/B | 0.5 | 32.9 | 33.2 | 76.3 | 87.3 | 110.8 | · | |
| P / Tangible Book | 0.5 | 32.9 | 33.2 | 76.3 | 87.3 | 110.8 | · | |
| P / Cash Flow | -1.5 | -7.6 | -31.1 | -128.8 | -250.7 | -367.9 | · | |
| P / FCF | -1.4 | -7.5 | -30.3 | -121.8 | -244.9 | -336.9 | · | |
| EV / EBITDA | 0.1 | -8.5 | -24.5 | -119.2 | -258.1 | -316.2 | · | |
| EV / FCF | 0.1 | -7.9 | -29.7 | -120.6 | -242.6 | -334.2 | · | |
| EV / Revenue | -0.0 | 8.1 | 30.8 | 161.0 | 315.3 | 723.7 | · | |
| Earnings Yield | -144.7% | -222.0% | -64.4% | -0.87% | -0.42% | -0.57% | · |
Income Statement 17
| 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 | $32M | $28M | $29M | $29M | $31M | $30M | $29M | $29M | $27M | $28M | $31M | $30M | $36M | $33M | $32M | $28M | |
| Cost of Revenue | $18M | $16M | $17M | $18M | $20M | $19M | $19M | $19M | $18M | $20M | $23M | $23M | $28M | $27M | $27M | $23M | |
| Gross Profit | $13M | $12M | $12M | $12M | $12M | $11M | $11M | $10M | $10M | $8M | $8M | $7M | $8M | $6M | $5M | $4M | |
| R&D Expense | $5M | $6M | $5M | $5M | $5M | $6M | $8M | $8M | $10M | $13M | $13M | $16M | $15M | $14M | $11M | $13M | |
| SG&A Expense | $11M | $10M | $12M | $8M | $9M | $8M | $9M | $10M | $13M | $11M | $10M | $12M | $11M | $12M | $10M | $10M | |
| Operating Expenses | $29M | $29M | $30M | $27M | $29M | $27M | $33M | $34M | $41M | $45M | $45M | $53M | $51M | $50M | $45M | $45M | |
| Operating Income | $-16M | $-17M | $-18M | $-16M | $-17M | $-16M | $-22M | $-24M | $-31M | $-37M | $-37M | $-45M | $-43M | $-43M | $-40M | $-41M | |
| Interest Expense | $3M | $3M | $3M | $3M | $3M | $4M | $6M | $6M | $6M | $6M | $3M | $3M | $3M | $3M | $2M | $567.0K | |
| Other Non-op | $1M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $3M | $2M | $3M | $3M | $3M | $2M | $805.0K | |
| Pretax Income | $-18M | $-19M | $-19M | $-17M | $-18M | $-26M | $-26M | $-28M | $-34M | $-40M | $-38M | $-46M | $-44M | $-44M | $-41M | $-41M | |
| Income Tax | $220.0K | $217.0K | $95.0K | $404.0K | $104.0K | $115.0K | $-4.0K | $182.0K | $151.0K | $162.0K | $112.0K | $86.0K | $133.0K | $192.0K | $64.0K | $20.0K | |
| Net Income | $-18M | $-19M | $-19M | $-18M | $-19M | $-26M | $-26M | $-28M | $-34M | $-40M | $-39M | $-46M | $-44M | $-44M | $-41M | $-41M | |
| EPS (Basic) | $-0.97 | $-1.03 | $0.33 | $-1.00 | $-1.04 | $-3.66 | $-7.21 | $-8.02 | $-9.96 | $-11.77 | $-49.55 | $-0.93 | $-0.90 | $-0.90 | $-0.83 | $-0.85 | |
| EPS (Diluted) | $-0.97 | $-1.03 | $0.33 | $-1.00 | $-1.04 | $-3.66 | $-7.21 | $-8.02 | $-9.96 | $-11.77 | $-49.55 | $-0.93 | $-0.90 | $-0.90 | $-0.83 | $-0.85 | |
| Shares (Basic) | 18,619 | 18,373 | -27,353 | 17,783 | 17,743 | 7,038 | -6,872 | 3,484 | 3,458 | 3,393 | -144,342 | 49,913 | 48,951 | 48,783 | -95,337 | 48,129 | |
| Shares (Diluted) | 18,619 | 18,373 | -27,353 | 17,783 | 17,743 | 7,038 | -6,872 | 3,484 | 3,458 | 3,393 | -144,342 | 49,913 | 48,951 | 48,783 | -95,337 | 48,129 | |
| EBITDA | $-16M | $-16M | · | $-16M | $-17M | $-15M | · | $-24M | $-31M | $-35M | · | $-45M | $-43M | $-42M | · | $-41M |
Balance Sheet 23
| 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 | $35M | $31M | $35M | $36M | $40M | $76M | $124M | $33M | $38M | $32M | · | $36M | $36M | $36M | · | $64M | |
| Short-term Investments | $112M | $126M | $134M | $142M | $145M | $113M | $35M | $142M | $157M | $195M | · | $158M | $186M | $213M | · | $164M | |
| Receivables | $29M | $25M | $28M | $33M | $35M | $37M | $36M | $34M | $34M | $36M | · | $35M | $37M | $34M | · | $23M | |
| Inventory | $47M | $50M | $48M | $49M | $52M | $56M | $59M | $61M | $62M | $56M | · | $48M | $44M | $48M | · | $55M | |
| Prepaid Expense | $4M | $5M | $6M | $4M | $4M | $5M | $5M | $4M | $5M | $6M | · | $6M | $5M | $6M | · | $5M | |
| Current Assets | $228M | $237M | $251M | $265M | $276M | $287M | $258M | $275M | $295M | $325M | · | $284M | $309M | $337M | · | $310M | |
| PP&E (Net) | $4M | $4M | $5M | $5M | $6M | $7M | $8M | $9M | $11M | $12M | · | $14M | $15M | $15M | · | $16M | |
| PP&E (Gross) | · | · | $30M | · | · | · | $29M | · | · | · | · | · | · | · | · | · | |
| Accum. Depreciation | · | · | $25M | · | · | · | $21M | · | · | · | · | · | · | · | · | · | |
| Other Non-current Assets | $411.0K | $353.0K | $317.0K | $538.0K | $560.0K | $818.0K | $2M | $484.0K | $520.0K | $540.0K | · | $961.0K | $1M | $1M | · | $386.0K | |
| Total Assets | $242M | $249M | $264M | $277M | $289M | $301M | $276M | $293M | $315M | $346M | · | $308M | $334M | $363M | · | $366M | |
| Accounts Payable | $4M | $1M | $554.0K | $2M | $1M | $1M | $4M | $4M | $5M | $7M | · | $3M | $2M | $2M | · | $1M | |
| Current Liabilities | $44M | $38M | $38M | $37M | $37M | $34M | $45M | $42M | $43M | $51M | · | $53M | $49M | $44M | · | $50M | |
| Capital Leases | $3M | $3M | $3M | $1M | $2M | $2M | $3M | $3M | $4M | $4M | · | $5M | $5M | $5M | · | $6M | |
| Total Liabilities | $146M | $138M | $138M | $135M | $134M | $131M | $249M | $245M | $246M | $253M | · | $155M | $151M | $146M | · | $87M | |
| Long-term Debt | · | · | $96M | · | · | · | · | · | · | · | · | · | · | · | · | · | |
| Total Debt | $98M | $97M | · | $96M | $95M | $94M | · | $197M | $197M | $197M | · | $97M | $97M | $96M | · | $30M | |
| Common Stock | $19.0K | $18.0K | $18.0K | $18.0K | $18.0K | $18.0K | $4.0K | $52.0K | $52.0K | $52.0K | · | $50.0K | $50.0K | $49.0K | · | $48.0K | |
| Retained Earnings | $-1.21B | $-1.19B | $-1.17B | $-1.15B | $-1.13B | $-1.12B | $-1.09B | $-1.06B | $-1.04B | $-1.00B | · | $-923M | $-877M | $-833M | · | $-748M | |
| AOCI | $-136.0K | $-73.0K | $172.0K | $157.0K | $49.0K | $88.0K | $42.0K | $352.0K | $-302.0K | $-258.0K | · | $-253.0K | $-393.0K | $-113.0K | · | $-934.0K | |
| Stockholders' Equity | $96M | $112M | $127M | $142M | $155M | $170M | $27M | $48M | $69M | $93M | $123M | $152M | $183M | $216M | $246M | $279M | |
| Liabilities + Equity | $242M | $249M | $264M | $277M | $289M | $301M | $276M | $293M | $315M | $346M | · | $308M | $334M | $363M | · | $366M | |
| Shares Outstanding | 18,797,000 | 18,529,000 | 18,169,000 | 17,809,000 | 17,766,000 | 17,722,000 | 3,530,000 | 52,538,000 | 52,084,000 | 51,702,000 | · | 50,173,000 | 49,629,000 | 49,216,000 | · | 48,295,000 |
Cash Flow 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $627.0K | $795.0K | $881.0K | $1M | $1M | $1M | $1M | $1M | $1M | $1M | $1M | $1M | $2M | $1M | $1M | $1M | |
| Stock-based Comp | $3M | $3M | $4M | $5M | $3M | $3M | $5M | $6M | $10M | $8M | $9M | $11M | $10M | $9M | $7M | $7M | |
| Restructuring | · | · | $0 | $0 | $0 | $34.0K | · | $1M | $-178.0K | $3M | · | · | · | · | · | · | |
| Other Non-cash | · | $2M | · | · | · | $-4M | · | · | · | $-16M | · | · | · | $-11M | · | · | |
| Operating Cash Flow | $-10M | $-13M | $-10M | $-6M | $-5M | $-26M | $-16M | $-21M | $-33M | $-46M | $-24M | $-34M | $-28M | $-45M | $-35M | $-34M | |
| CapEx | $111.0K | $65.0K | $223.0K | $160.0K | $292.0K | $123.0K | $43.0K | $395.0K | $120.0K | $354.0K | $1M | $782.0K | $795.0K | $810.0K | $2M | $3M | |
| Investing Cash Flow | $14M | $8M | $9M | $3M | $-31M | $-78M | $108M | $16M | $39M | $-59M | $23M | $30M | $27M | $3M | $-52M | $20M | |
| Debt Issued | $0 | $0 | $0 | $0 | $0 | $98M | $0 | $0 | $0 | $67M | $33M | $0 | $0 | $0 | · | · | |
| Net Debt Issued | · | $0 | · | · | · | $98M | · | · | · | $67M | · | · | · | · | · | · | |
| Stock Issued | · | · | · | · | · | · | · | · | · | · | · | · | · | · | · | $0 | |
| Financing Cash Flow | $-88.0K | $501.0K | $0 | $231.0K | $-384.0K | $56M | $-938.0K | $121.0K | $77.0K | $69M | $33M | $4M | $1M | $5M | $66M | $3M | |
| Net Change in Cash | $4M | $-4M | $-931.0K | $-3M | $-36M | $-48M | $91M | $-5M | $6M | $-36M | $32M | $-91.0K | $20.0K | $-37M | $-21M | $-12M | |
| Free Cash Flow | · | $-13M | · | · | · | $-26M | · | · | · | $-46M | · | · | · | $-46M | · | · | |
| Levered FCF | · | $-16M | · | · | · | $-29M | · | · | · | $-52M | · | · | · | $-49M | · | · |
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 | 42.0% | 43.4% | · | 39.4% | 37.8% | 37.2% | · | 34.3% | 35.7% | 29.2% | · | 23.6% | 21.4% | 19.2% | · | 15.6% | |
| Operating Margin | -49.5% | -60.7% | · | -53.7% | -53.7% | -55.1% | · | -83.2% | -112.3% | -131.0% | · | -149.7% | -120.6% | -129.9% | · | -147.7% | |
| Net Margin | -56.9% | -68.1% | · | -60.6% | -59.0% | -86.7% | · | -97.5% | -125.8% | -141.8% | · | -152.1% | -122.2% | -131.4% | · | -146.9% | |
| Pretax Margin | -56.1% | -67.3% | · | -59.2% | -58.7% | -86.3% | · | -96.8% | -125.2% | -141.2% | · | -151.8% | -121.8% | -130.8% | · | -146.8% | |
| EBITDA Margin | -49.5% | -57.9% | · | -53.7% | -53.7% | -50.8% | · | -83.2% | -112.3% | -125.9% | · | -149.7% | -120.6% | -125.8% | · | -147.7% | |
| ROA | -6.8% | -6.9% | · | -6.3% | -6.2% | -8.0% | · | -9.3% | -10.6% | -11.3% | · | -13.7% | -12.0% | -11.1% | · | -9.5% | |
| ROE | -14.3% | -13.5% | · | -18.8% | -16.6% | -19.6% | · | -28.0% | -27.4% | -25.8% | · | -21.4% | -17.9% | -15.7% | · | -11.8% | |
| ROIC | -8.2% | -8.2% | · | -6.8% | -6.8% | -6.2% | · | -9.8% | -11.6% | -12.8% | · | -18.3% | -15.6% | -14.0% | · | -13.3% |
Liquidity & Solvency 5
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 5.2 | 6.3 | · | 7.1 | 7.5 | 8.4 | · | 6.5 | 6.8 | 6.4 | · | 5.4 | 6.3 | 7.6 | · | 6.2 | |
| Quick Ratio | 4.0 | 4.8 | · | 5.7 | 5.9 | 6.6 | · | 4.9 | 5.3 | 5.2 | · | 4.3 | 5.3 | 6.4 | · | 5.0 | |
| Debt / Equity | 1.0 | 0.9 | · | 0.7 | 0.6 | 0.6 | · | 4.1 | 2.9 | 2.1 | · | 0.6 | 0.5 | 0.4 | · | 0.1 | |
| LT Debt / Equity | 1.0 | 0.9 | · | 0.7 | 0.6 | 0.6 | · | 4.1 | 2.9 | 2.1 | · | 0.6 | 0.5 | 0.4 | · | 0.1 | |
| Interest Coverage | -4.6 | -5.0 | · | -4.5 | -4.9 | -4.6 | · | -3.9 | -5.1 | -6.2 | · | -14.1 | -14.0 | -14.8 | · | -72.3 |
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 | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | |
| Inventory Turnover | 0.4 | 0.3 | · | 0.3 | 0.3 | 0.3 | · | 0.3 | 0.3 | 0.4 | · | 0.4 | 0.6 | 0.6 | · | 0.5 | |
| Receivables Turnover | 1.0 | 0.9 | · | 0.9 | 0.9 | 0.8 | · | 0.8 | 0.8 | 0.8 | · | 1.0 | 1.2 | 1.1 | · | 1.3 |
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 | $120M | $118M | · | $119M | $117M | $114M | · | $115M | $122M | $128M | · | $128M | $122M | $117M | · | $110M | |
| Net Income TTM | $-73M | $-81M | · | $-90M | $-107M | $-128M | · | $-149M | $-165M | $-174M | · | $-175M | $-173M | $-165M | · | $-152M | |
| Market Cap | $81M | $71M | · | $251M | $341M | $196M | · | $534M | $3.01B | $1.72B | · | $8.19B | $16.28B | $13.58B | · | $11.54B | |
| Enterprise Value | $32M | $11M | · | $168M | $252M | $101M | · | $555M | $3.01B | $1.69B | · | $8.09B | $16.15B | $13.43B | · | $11.34B | |
| P/E | -1.1 | -0.6 | · | -1.0 | -0.8 | -0.3 | · | -0.3 | -2.5 | -2.3 | · | -45.6 | -91.9 | -80.0 | · | -74.7 | |
| P/S | 0.7 | 0.6 | · | 2.1 | 2.9 | 1.7 | · | 4.7 | 24.7 | 13.4 | · | 64.2 | 133.1 | 116.3 | · | 105.2 | |
| P/B | 0.8 | 0.6 | · | 1.8 | 2.2 | 1.2 | · | 11.2 | 43.8 | 18.5 | · | 53.8 | 88.9 | 62.8 | · | 41.3 | |
| P / Tangible Book | 0.8 | 0.6 | · | 1.8 | 2.2 | 1.2 | · | 11.2 | 43.8 | 18.5 | · | 53.8 | 88.9 | 62.8 | · | 41.3 | |
| P / Cash Flow | · | -5.5 | · | · | · | -7.6 | · | · | · | -37.5 | · | · | · | -303.5 | · | · | |
| P / FCF | · | -5.5 | · | · | · | -7.6 | · | · | · | -37.2 | · | · | · | -298.1 | · | · | |
| EV / EBITDA | -2.0 | -0.7 | · | -10.6 | -14.9 | -6.7 | · | -23.3 | -97.8 | -47.7 | · | -178.0 | -371.6 | -319.0 | · | -276.7 | |
| EV / FCF | · | -0.9 | · | · | · | -3.9 | · | · | · | -36.6 | · | · | · | -294.8 | · | · | |
| EV / Revenue | 0.3 | 0.1 | · | 1.4 | 2.1 | 0.9 | · | 4.8 | 24.7 | 13.2 | · | 63.4 | 132.1 | 115.0 | · | 103.4 | |
| Earnings Yield | -93.5% | -175.3% | · | -97.2% | -118.1% | -302.1% | · | -302.1% | -40.8% | -43.5% | · | -2.2% | -1.1% | -1.2% | · | -1.3% |
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 | $119M | $114M | $130M | $115M | $103M |
| Gross Margin % | 39.1% | 33.9% | 22.2% | 15.5% | 7.4% |
| Operating Margin % | -55.8% | -99.7% | -130.2% | -139.6% | -127.2% |
| Net Income | $-82M | $-128M | $-173M | $-163M | $-132M |
| Diluted EPS | $-5.37 | $-36.96 | $-52.28 | $-3.38 | $-2.89 |
Balance Sheet
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Debt / Equity | 0.8 | 7.4 | 1.1 | 0.4 | 0.1 |
| Current Ratio | 6.7 | 5.7 | 5.3 | 7.2 | 7.9 |
| Quick Ratio | 5.2 | 4.3 | 4.3 | 6.1 | 7.1 |
Cash Flow
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Free Cash Flow | $-47M | $-117M | $-135M | $-154M | $-133M |
Latest News Recent headlines mentioning this company
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Institutional owners (13F) 99 filers · $47.5M 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 |
|---|---|---|---|---|
| 23 (-5 vs prior Q) | 24 (+2 vs prior Q) | 28 (-7 vs prior Q) | 28 (+5 vs prior Q) | -711K |
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 |
|---|---|---|---|---|
| FMR LLC | $11,417,272 | 2,642,887 | 24.03% | Shares |
| BML Capital Management, LLC | $10,885,108 | 2,519,701 | 22.91% | Shares |
| PERCEPTIVE ADVISORS LLC | $3,599,998 | 833,333 | 7.58% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $3,370,179 | 780,134 | 7.09% | Shares |
| PFM Health Sciences, LP | $2,514,767 | 582,122 | 5.29% | Shares |
| Ensign Peak Advisors, Inc | $1,876,353 | 434,341 | 3.95% | Shares |
| Assenagon Asset Management S.A. | $1,466,372 | 339,438 | 3.09% | Shares |
| Peapod Lane Capital LLC | $1,434,028 | 331,951 | 3.02% | Shares |
| Stratos Wealth Partners, LTD. | $866,359 | 200,546 | 1.82% | Shares |
| MILLENNIUM MANAGEMENT LLC | $785,350 | 181,794 | 1.65% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $707,449 | 163,659 | 1.49% | Shares |
| GOLDMAN SACHS GROUP INC | $587,732 | 136,049 | 1.24% | Shares |
| XTX Topco Ltd | $538,661 | 124,690 | 1.13% | Shares |
| Catalio Capital Management, LP | $510,965 | 118,279 | 1.08% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $496,420 | 114,912 | 1.04% | Shares |
| GMT Capital Corp | $423,827 | 98,108 | 0.89% | Shares |
| PURA VIDA INVESTMENTS, LLC | $359,999 | 83,333 | 0.76% | Shares |
| STATE STREET CORP | $350,810 | 81,206 | 0.74% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $350,486 | 81,131 | 0.74% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $350,019 | 81,023 | 0.74% | Shares |
| MORGAN STANLEY | $311,226 | 72,043 | 0.66% | Shares |
| CITADEL ADVISORS LLC | $263,520 | 61,000 | 0.55% | Call option |
| IEQ CAPITAL, LLC | $225,189 | 52,127 | 0.47% | Shares |
| Marquette Asset Management, LLC | $211,598 | 48,981 | 0.45% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $205,200 | 47,500 | 0.43% | Call option |
| NATIONAL BANK OF CANADA /FI/ | $197,087 | 45,622 | 0.41% | Shares |
| RENAISSANCE TECHNOLOGIES LLC | $187,609 | 43,428 | 0.39% | Shares |
| NORTHERN TRUST CORP | $185,358 | 42,907 | 0.39% | Shares |
| JANE STREET GROUP, LLC | $183,825 | 42,552 | 0.39% | Shares |
| BlackRock, Inc. | $180,036 | 41,675 | 0.38% | Shares |
| BARCLAYS PLC | $179,725 | 41,603 | 0.38% | Shares |
| Centiva Capital, LP | $171,871 | 39,785 | 0.36% | Shares |
| Clayton Partners LLC | $162,117 | 37,527 | 0.34% | Shares |
| Jain Global LLC | $142,970 | 33,095 | 0.30% | Shares |
| Mariner, LLC | $140,026 | 32,413 | 0.29% | Shares |
| BNP PARIBAS FINANCIAL MARKETS | $123,634 | 28,619 | 0.26% | Shares |
| AMERICAN CENTURY COMPANIES INC | $116,394 | 26,943 | 0.24% | Shares |
| BRIDGEWAY CAPITAL MANAGEMENT, LLC | $108,000 | 25,000 | 0.23% | Shares |
| Squarepoint Ops LLC | $98,073 | 22,702 | 0.21% | Shares |
| BANK OF AMERICA CORP /DE/ | $94,301 | 21,829 | 0.20% | Shares |
| CWM, LLC | $85,014 | 22,139 | 0.18% | Shares |
| Catalyst Funds Management Pty Ltd | $82,948 | 19,201 | 0.17% | Shares |
| BANK OF MONTREAL /CAN/ | $77,812 | 18,012 | 0.16% | Shares |
| Bank of New York Mellon Corp | $75,056 | 17,374 | 0.16% | Shares |
| R Squared Ltd | $73,431 | 16,998 | 0.15% | Shares |
| Engineers Gate Manager LP | $73,168 | 16,937 | 0.15% | Shares |
| MERCER GLOBAL ADVISORS INC /ADV | $71,129 | 16,465 | 0.15% | Shares |
| Arax Advisory Partners | $67,315 | 15,582 | 0.14% | Shares |
| AQR CAPITAL MANAGEMENT LLC | $65,280 | 15,111 | 0.14% | Shares |
| WEALTH ENHANCEMENT ADVISORY SERVICES, LLC | $57,772 | 13,041 | 0.12% | Shares |
| Creative Planning | $50,954 | 11,795 | 0.11% | Shares |
| CITADEL ADVISORS LLC | $49,248 | 11,400 | 0.10% | Put option |
| MARSHALL WACE, LLP | $49,188 | 11,386 | 0.10% | Shares |
| CITADEL ADVISORS LLC | $45,835 | 10,610 | 0.10% | Shares |
| RHUMBLINE ADVISERS | $35,972 | 8,327 | 0.08% | Shares |
| Vanguard Global Advisers, LLC | $34,137 | 7,902 | 0.07% | Shares |
| VANGUARD GROUP INC | $29,316 | 7,902 | 0.06% | Shares |
| Russell Investments Group, Ltd. | $18,662 | 4,320 | 0.04% | Shares |
| Cerity Partners LLC | $17,950 | 4,155 | 0.04% | Shares |
| Tower Research Capital LLC (TRC) | $11,966 | 2,770 | 0.03% | Shares |
| Integrated Wealth Concepts LLC | $11,157 | 2,583 | 0.02% | Shares |
| Centricity Wealth Management, LLC | $9,391 | 8,460 | 0.02% | Shares |
| HUNTINGTON NATIONAL BANK | $7,072 | 1,637 | 0.01% | Shares |
| PNC Financial Services Group, Inc. | $6,096 | 1,411 | 0.01% | Shares |
| Allworth Financial LP | $4,839 | 1,120 | 0.01% | Shares |
| JPMORGAN CHASE & CO | $4,075 | 941 | 0.01% | Shares |
| FEDERATED HERMES, INC. | $2,808 | 650 | 0.01% | Shares |
| Essential Partners LLC | $1,745 | 404 | 0.00% | Shares |
| EverSource Wealth Advisors, LLC | $1,581 | 366 | 0.00% | Shares |
| GAMMA Investing LLC | $1,452 | 336 | 0.00% | Shares |
| MassMutual Private Wealth & Trust, FSB | $1,119 | 259 | 0.00% | Shares |
| ROTHSCHILD INVESTMENT LLC | $1,032 | 239 | 0.00% | Shares |
| Farther Finance Advisors, LLC | $774 | 179 | 0.00% | Shares |
| Fortitude Family Office, LLC | $760 | 176 | 0.00% | Shares |
| OSAIC HOLDINGS, INC. | $591 | 137 | 0.00% | Shares |
| Bogart Wealth, LLC | $562 | 130 | 0.00% | Shares |
| NISA INVESTMENT ADVISORS, LLC | $497 | 115 | 0.00% | Shares |
| IFP Advisors, Inc | $423 | 98 | 0.00% | Shares |
| C WorldWide Group Holding A/S | $288 | 66,666 | 0.00% | Shares |
| SJS Investment Consulting Inc. | $264 | 61 | 0.00% | Shares |
| True Wealth Design, LLC | $242 | 56 | 0.00% | Shares |
| Clearstead Advisors, LLC | $204 | 47 | 0.00% | Shares |
| Wealth Enhancement Trust Services, Inc. | $186 | 43 | 0.00% | Shares |
| PRICE T ROWE ASSOCIATES INC /MD/ | $154 | 35,622 | 0.00% | Shares |
| ACADIAN ASSET MANAGEMENT LLC | $149 | 35,050 | 0.00% | Shares |
| HRT FINANCIAL LP | $142 | 32,885 | 0.00% | Shares |
| Fourth Dimension Wealth, LLC | $134 | 31 | 0.00% | Shares |
| UBS Group AG | $125 | 29 | 0.00% | Shares |
| Transamerica Financial Advisors, LLC | $108 | 25 | 0.00% | Shares |
| ADIRONDACK TRUST CO | $77 | 18 | 0.00% | Shares |
| Sunbelt Securities, Inc. | $54 | 14 | 0.00% | Shares |
| Ancora Advisors LLC | $35 | 8 | 0.00% | Shares |
| Caitong International Asset Management Co., Ltd | $30 | 7 | 0.00% | Shares |
| JPL Wealth Management, LLC | $22 | 5 | 0.00% | Shares |
| SBI Securities Co., Ltd. | $22 | 5 | 0.00% | Shares |
| US BANCORP \DE\ | $9 | 2 | 0.00% | Shares |
| SIT INVESTMENT ASSOCIATES INC | $1 | 177 | 0.00% | Shares |
| Avion Wealth | $0 | 157 | 0.00% | Shares |
| ROYAL BANK OF CANADA | $0 | 98 | 0.00% | Shares |
Company insiders 17 insiders · 7 officers · 9 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Leslie Trigg | Chair and CEO | Aug. 17, 2026 S | 194,597 | 0 | 2 | $-26,347 |
| Renee Gaeta | Chief Financial Officer | Aug. 17, 2026 S | 180,840 | 0 | 2 | $-107,244 |
| Rebecca Chambers | Chief Financial Officer | April 27, 2021 M | 13,597 | 0 | 0 | $0 |
| Martin Vazquez | Chief Operating Officer | May 3, 2021 M | 9,255 | 0 | 0 | $0 |
| John L. Brottem | General Counsel | Aug. 17, 2026 S | 87,475 | 0 | 1 | $-11,554 |
| Marc Nash | SVP Operations and R&D | July 24, 2024 S | 240,690 | 0 | 0 | $0 |
| Steven S. Williamson | Chief Commercial Officer | Nov. 15, 2020 A | 30,910 | 0 | 0 | $0 |
| Karen Prange | Director | June 4, 2026 A | 29,334 | 0 | 0 | $0 |
| Brent D. Lang | Director | June 4, 2026 A | 28,518 | 0 | 0 | $0 |
| Karen Drexler | Director | June 4, 2026 A | 21,317 | 0 | 0 | $0 |
| Patrick T Hackett | Director | June 4, 2026 A | 105,839 | 0 | 0 | $0 |
| Keith D Grossman | Director | June 4, 2026 A | 24,585 | 0 | 0 | $0 |
| Kevin C Oboyle | Director | June 4, 2026 A | 34,785 | 0 | 0 | $0 |
| Andrea Lynn Saia | Director | March 23, 2021 A | 5,043 | 0 | 0 | $0 |
| James F. Hinrichs | Director | Sept. 17, 2020 P | 20,000 | 0 | 0 | $0 |
| WARBURG PINCUS LLC | 10% owner | April 13, 2021 S | 815,394 | 0 | 0 | $0 |
| Leonard Braden Michael | — | May 15, 2026 X | 2,519,701 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
ETF ownership Held by 17 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 |
|---|---|---|---|---|
| FMED · Fidelity Covington Trust | 0.41% | 34,000 NS | May 31, 2026 | N-PORT |
| AVSC · AMERICAN CENTURY ETF TRUST | 0.00% | 26,735 NS | May 31, 2026 | N-PORT |
| RSSL · Global X Funds | 0.00% | 7,578 NS | April 30, 2026 | N-PORT |
| ITWO · ProShares Trust | 0.00% | 795 NS | May 31, 2026 | N-PORT |
| DFAS · Dimensional ETF Trust | 0.00% | 47,636 NS | April 30, 2026 | N-PORT |
| DFSU · Dimensional ETF Trust | 0.00% | 6,708 NS | April 30, 2026 | N-PORT |
| UWM · ProShares Trust | 0.00% | 620 NS | May 31, 2026 | N-PORT |
| URTY · ProShares Trust | 0.00% | 625 NS | May 31, 2026 | N-PORT |
| MSSM · MORGAN STANLEY PATHWAY FUNDS | 0.00% | 952 NS | May 31, 2026 | N-PORT |
| HDG · ProShares Trust | 0.00% | 16 NS | May 31, 2026 | N-PORT |
| DFAC · Dimensional ETF Trust | 0.00% | 24,331 NS | April 30, 2026 | N-PORT |
| VXF · VANGUARD INDEX FUNDS | — | — | July 15, 2026 | Daily |
| VTI · VANGUARD INDEX FUNDS | — | — | July 15, 2026 | Daily |
| IWC · iShares Trust | — | — | Aug. 18, 2026 | Daily |
| PICK · iShares, Inc. | — | — | Aug. 14, 2026 | Daily |
| IXUS · iShares Trust | — | — | Aug. 17, 2026 | Daily |
| WSML · iShares Trust | — | — | July 20, 2026 | Daily |