PDYNW Palladyne AI Corp. - Warrant
$0.01
Price · Aug 19, 2026
Fundamentals as of Aug 6, 2026
52W Range
$0–$0
1% of range
Analyst Rating
—
Price Target
—
P/E (TTM)
0.0
ROE
15.6%
Net Profit Margin
191.4%
PDYNW Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$0.01
Market Cap
$350.5K
P/E (TTM)
0.0
EPS (TTM)
$0.24
Revenue (TTM)
$5M
Div Yield
—
ROE
15.6%
Debt/Equity
—
52W Range
$0 – $0
PDYNW 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
$5M
2020-12-31
→
2025-12-31
EPS
$0.24
2021-12-31
→
2025-12-31
Free Cash Flow
$-28M
2022-12-31
→
2025-12-31
Margins
191.4%
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Metric
5Y trend
PDYNW
Peer Median
P/E (TTM)
0.0
—
P/S (TTM)
0.1
—
P/B
0.0
—
Price / FCF
-0.0
—
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Metric
5Y trend
PDYNW
Peer Median
Operating Margin
-617.7%
—
Net Profit Margin
191.4%
—
ROA
13.2%
—
ROE
15.6%
—
ROIC
-58.1%
—
Financial Health Debt, liquidity, solvency — balance sheet strength
Metric
5Y trend
PDYNW
Peer Median
Current Ratio
9.3
—
Quick Ratio
8.5
—
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Metric
5Y trend
PDYNW
Peer Median
Revenue YoY
-32.6%
—
Revenue CAGR 3Y
-28.9%
—
Revenue CAGR 5Y
-9.9%
—
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
Metric
5Y trend
PDYNW
Peer Median
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement 15
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Revenue | $5M | $8M | $6M | $15M | $5M | $9M | |
| Cost of Revenue | $3M | $3M | $5M | $12M | $4M | $6M | |
| R&D Expense | $13M | $10M | $39M | $34M | $18M | $14M | |
| SG&A Expense | $17M | $17M | $31M | $63M | $58M | $7M | |
| Operating Expenses | $38M | $35M | $127M | $192M | $86M | $30M | |
| Operating Income | $-32M | $-27M | $-121M | $-177M | $-81M | $-21M | |
| Other Non-op | $221.0K | $2.0K | $2M | $743.0K | $51.0K | $34.0K | |
| Pretax Income | $8M | $-73M | $-116M | $-161M | $-82M | $-21M | |
| Income Tax | $-3M | $5.0K | $7.0K | $-4M | $1.0K | $1.0K | |
| Net Income | $10M | $-73M | $-116M | $-157M | $-82M | $-21M | |
| EPS (Basic) | $0.26 | $-2.71 | $-4.51 | $-6.42 | $-0.72 | · | |
| EPS (Diluted) | $0.24 | $-2.71 | $-4.51 | $-6.42 | $-0.72 | · | |
| Shares (Basic) | 38,841,116 | 26,774,895 | 25,639,270 | 24,473,212 | 113,184,357 | · | |
| Shares (Diluted) | 42,125,932 | 26,774,895 | 25,639,270 | 24,473,212 | 113,184,357 | · | |
| EBITDA | $-32M | $-27M | $-121M | $-177M | · | · |
Balance Sheet 27
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $18M | $31M | $23M | $35M | $217M | $34M | |
| Short-term Investments | $29M | $9M | $16M | $79M | · | · | |
| Receivables | $1M | $134.0K | $555.0K | $2M | $788.0K | $1M | |
| Inventory | $339.0K | $71.0K | $1M | $4M | $1M | $707.0K | |
| Prepaid Expense | $2M | $1M | $2M | $5M | $9M | $693.0K | |
| Current Assets | $53M | $43M | $45M | $129M | $228M | $36M | |
| PP&E (Net) | $9M | $4M | $5M | $8M | $7M | $1M | |
| PP&E (Gross) | $13M | $7M | $9M | $10M | $8M | $2M | |
| Accum. Depreciation | $4M | $3M | $4M | $3M | $1M | $989.0K | |
| Goodwill | $15M | $0 | · | · | · | · | |
| Intangibles | $10M | · | $0 | $19M | · | · | |
| Other Non-current Assets | $460.0K | $438.0K | $429.0K | $487.0K | $441.0K | $292.0K | |
| Total Assets | $96M | $56M | $60M | $168M | $236M | $38M | |
| Accounts Payable | $1M | $435.0K | $1M | $4M | $2M | $972.0K | |
| Accrued Liabilities | $4M | $3M | $6M | $6M | $4M | $1M | |
| Short-term Debt | · | · | · | · | · | $1M | |
| Current Liabilities | $6M | $4M | $8M | $11M | $6M | $4M | |
| Capital Leases | $10M | $10M | $11M | $12M | · | $240.0K | |
| Other Non-current Liabilities | $3M | $0 | $29.0K | $256.0K | $16M | $526.0K | |
| Total Liabilities | $21M | $66M | $20M | $23M | $22M | $5M | |
| Common Stock | $5.0K | $3.0K | $3.0K | $3.0K | $14.0K | $10.0K | |
| Paid-in Capital | $555M | $481M | $459M | $447M | $359M | $97M | |
| Retained Earnings | $-481M | $-491M | $-418M | $-303M | $-145M | $-64M | |
| AOCI | $11.0K | $6.0K | $3.0K | $-17.0K | · | · | |
| Stockholders' Equity | $75M | $-10M | $41M | $144M | $214M | $33M | |
| Liabilities + Equity | $96M | $56M | $60M | $168M | $236M | $38M | |
| Shares Outstanding | 46,117,164 | 33,883,894 | 25,877,865 | 25,708,519 | 137,722,658 | 104,039,354 |
Cash Flow 12
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Stock-based Comp | $4M | $3M | $12M | $36M | $43M | $2M | |
| Deferred Tax | $-3M | $0 | · | $-4M | $0 | · | |
| Amort. of Intangibles | $118.0K | $0 | $3M | $2M | $0 | · | |
| Operating Cash Flow | $-28M | $-23M | $-77M | $-65M | $-42M | $-17M | |
| CapEx | $713.0K | $265.0K | $782.0K | $1M | $5M | $950.0K | |
| Investing Cash Flow | $-25M | $7M | $65M | $-109M | $-5M | $-950.0K | |
| Stock Issued | $36M | $20M | $0 | · | · | · | |
| Net Stock Activity | $36M | $20M | · | · | · | · | |
| Financing Cash Flow | $39M | $24M | $-82.0K | $-8M | $230M | $42M | |
| Net Change in Cash | $-13M | $8M | $-12M | $-182M | $183M | $24M | |
| Taxes Paid | $2.0K | $10.0K | $7.0K | · | $2.0K | $1.0K | |
| Free Cash Flow | $-28M | $-23M | $-77M | $-67M | · | · |
Profitability 7
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Operating Margin | -617.7% | -345.8% | -1968.0% | -1215.2% | · | · | |
| Net Margin | 191.4% | -932.7% | -1880.8% | -1078.5% | · | · | |
| Pretax Margin | 143.0% | -932.6% | -1880.7% | -1105.2% | · | · | |
| EBITDA Margin | -617.7% | -345.8% | -1968.0% | -1215.2% | · | · | |
| ROA | 13.2% | -124.5% | -101.4% | -77.9% | · | · | |
| ROE | 15.6% | -1045.8% | -197.5% | -83.7% | · | · | |
| ROIC | -58.1% | 282.4% | -295.7% | -119.6% | · | · |
Liquidity & Solvency 2
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Current Ratio | 9.3 | 9.6 | 5.3 | 12.3 | · | · | |
| Quick Ratio | 8.5 | 9.1 | 4.7 | 11.0 | · | · |
Efficiency 3
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.1 | 0.1 | 0.1 | 0.1 | · | · | |
| Inventory Turnover | 13.1 | 6.1 | 2.2 | 5.1 | · | · | |
| Receivables Turnover | 8.8 | 22.6 | 5.1 | 11.0 | · | · |
Growth Rates 3
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Revenue YoY | -32.6% | 26.7% | -57.8% | 187.1% | -42.4% | · | |
| Revenue CAGR 3Y | -28.9% | 15.3% | -11.3% | · | · | · | |
| Revenue CAGR 5Y | -9.9% | · | · | · | · | · |
Valuation (TTM) 10
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Revenue TTM | $5M | $8M | $6M | $15M | $5M | $9M | |
| Net Income TTM | $10M | $-73M | $-116M | $-157M | $-82M | $-21M | |
| Market Cap | $5M | $4M | $3M | $65M | · | · | |
| P/E | 0.5 | -0.0 | -0.0 | -0.1 | · | · | |
| P/S | 1.0 | 0.5 | 0.5 | 4.4 | · | · | |
| P/B | 0.1 | -0.4 | 0.1 | 0.4 | · | · | |
| P / Tangible Book | 0.1 | · | 0.1 | 0.5 | · | · | |
| P / Cash Flow | -0.2 | -0.2 | -0.0 | -1.0 | · | · | |
| P / FCF | -0.2 | -0.2 | -0.0 | -1.0 | · | · | |
| Earnings Yield | 218.4% | -2465.9% | -4103.7% | -1528.6% | · | · |
Income Statement 15
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $6M | $4M | $2M | $860.0K | $1M | $2M | $761.0K | $871.0K | $3M | $3M | $746.0K | $2M | $1M | $2M | $6M | $5M | |
| Cost of Revenue | $4M | $2M | $1M | $461.0K | $474.0K | $353.0K | $554.0K | $479.0K | $569.0K | $2M | $1M | $1M | $943.0K | $2M | $4M | $4M | |
| R&D Expense | $4M | $4M | $4M | $3M | $3M | $3M | $3M | $3M | $2M | $3M | $8M | $10M | $12M | $9M | $10M | $10M | |
| SG&A Expense | $8M | $7M | $5M | $4M | $4M | $4M | $3M | $4M | $4M | $5M | $6M | $8M | $8M | $10M | $13M | $15M | |
| Operating Expenses | $19M | $15M | $11M | $9M | $9M | $9M | $7M | $8M | $8M | $11M | $38M | $33M | $31M | $25M | $101M | $32M | |
| Operating Income | $-13M | $-12M | $-9M | $-8M | $-8M | $-7M | $-6M | $-7M | $-6M | $-7M | $-37M | $-31M | $-30M | $-23M | $-95M | $-27M | |
| Other Non-op | $11.0K | $32.0K | $221.0K | $0 | $0 | $0 | $0 | $0 | $2.0K | $0 | $5.0K | $871.0K | $-11.0K | $1M | $747.0K | $-4.0K | |
| Pretax Income | $-12M | $-13M | $-4M | $-4M | $-7M | $23M | $-53M | $-7M | $-5M | $-7M | $-36M | $-29M | $-29M | $-21M | $-92M | $-25M | |
| Income Tax | $0 | $0 | $-3M | $0 | $0 | $0 | $2.0K | $3.0K | $0 | $0 | $4.0K | $0 | $3.0K | $0 | $179.0K | $-2M | |
| Net Income | $-12M | $-13M | $-1M | $-4M | $-7M | $23M | $-53M | $-7M | $-5M | $-7M | $-36M | $-29M | $-29M | $-21M | $-92M | $-22M | |
| EPS (Basic) | $-0.27 | $-0.28 | $-0.09 | $-0.09 | $-0.20 | $0.64 | $-1.96 | $-0.27 | $-0.20 | $-0.28 | $-1.42 | $-1.13 | $-1.12 | $-0.84 | $-4.44 | $-0.89 | |
| EPS (Diluted) | $-0.27 | $-0.28 | $-0.02 | $-0.09 | $-0.20 | $0.55 | $-1.96 | $-0.27 | $-0.20 | $-0.28 | $-1.42 | $-1.13 | $-1.12 | $-0.84 | $-4.44 | $-0.89 | |
| Shares (Basic) | 45,986,936 | 45,070,479 | -74,737,473 | 40,486,615 | 37,746,302 | 35,345,672 | -51,904,485 | 26,177,413 | 26,622,924 | 25,879,043 | -51,050,098 | 25,706,023 | 25,512,057 | 25,471,288 | -162,971,783 | 25,156,756 | |
| Shares (Diluted) | 45,986,936 | 45,070,479 | -77,174,935 | 40,486,615 | 37,746,302 | 41,067,950 | -51,904,485 | 26,177,413 | 26,622,924 | 25,879,043 | -51,050,098 | 25,706,023 | 25,512,057 | 25,471,288 | -162,971,783 | 25,156,756 | |
| EBITDA | $-13M | $-12M | · | $-8M | $-8M | $-7M | · | $-7M | $-6M | $-7M | · | $-31M | $-30M | $-23M | · | $-27M |
Balance Sheet 27
| 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 | $34M | $18M | $18M | $27M | $20M | $10M | $31M | $21M | $26M | $32M | $23M | $35M | $26M | $25M | $35M | $16M | |
| Short-term Investments | $10M | $26M | $29M | $30M | $43M | $37M | $9M | $0 | $0 | $0 | $16M | $20M | $50M | $69M | $79M | $119M | |
| Receivables | $2M | $2M | $1M | $326.0K | $237.0K | $160.0K | $134.0K | $618.0K | $500.0K | $408.0K | $555.0K | $1M | $1M | $2M | $2M | $3M | |
| Inventory | $940.0K | $989.0K | $339.0K | $76.0K | $76.0K | $73.0K | $71.0K | $0 | $0 | $0 | $1M | $1M | $4M | $6M | $4M | $3M | |
| Prepaid Expense | $2M | $1M | $2M | $1M | $1M | $2M | $1M | $1M | $2M | $2M | $2M | $2M | $4M | $5M | $5M | $3M | |
| Current Assets | $52M | $50M | $53M | $61M | $66M | $50M | $43M | $25M | $31M | $36M | $45M | $61M | $85M | $110M | $129M | $146M | |
| PP&E (Net) | $9M | $9M | $9M | $4M | $4M | $4M | $4M | $4M | $5M | $5M | $5M | $7M | $7M | $8M | $8M | $8M | |
| PP&E (Gross) | $13M | $13M | $13M | $8M | $7M | $7M | $7M | $7M | $7M | $7M | $9M | $10M | $10M | $11M | $10M | $10M | |
| Accum. Depreciation | $4M | $4M | $4M | $4M | $3M | $3M | $3M | $3M | $3M | $3M | $4M | $4M | $3M | $3M | $3M | $2M | |
| Goodwill | $15M | $15M | $15M | · | · | · | $0 | · | · | · | · | · | · | · | · | $71M | |
| Intangibles | $10M | $10M | $10M | · | · | · | · | · | · | · | $0 | $17M | $17M | $18M | $19M | $20M | |
| Other Non-current Assets | $409.0K | $434.0K | $460.0K | $330.0K | $370.0K | $408.0K | $438.0K | $470.0K | $501.0K | $410.0K | $429.0K | $446.0K | $463.0K | $481.0K | $487.0K | $511.0K | |
| Total Assets | $94M | $93M | $96M | $73M | $78M | $63M | $56M | $39M | $45M | $50M | $60M | $96M | $121M | $148M | $168M | $245M | |
| Accounts Payable | $1M | $1M | $1M | $565.0K | $316.0K | $273.0K | $435.0K | $178.0K | $410.0K | $758.0K | $1M | $2M | $5M | $3M | $4M | $3M | |
| Accrued Liabilities | $6M | $4M | $4M | $3M | $3M | $2M | $3M | $4M | $3M | $3M | $6M | $5M | $4M | $6M | $6M | $7M | |
| Current Liabilities | $8M | $6M | $6M | $4M | $4M | $3M | $4M | $5M | $5M | $5M | $8M | $8M | $10M | $9M | $11M | $10M | |
| Capital Leases | $9M | $9M | $10M | $9M | $9M | $10M | $10M | $10M | $10M | $11M | $11M | $11M | $12M | $12M | $12M | · | |
| Deferred Tax | · | · | · | · | · | · | · | · | · | · | · | · | · | · | · | $248.0K | |
| Other Non-current Liabilities | $3M | $3M | $3M | · | · | · | $0 | $204.0K | $161.0K | $277.0K | · | $92.0K | $195.0K | $651.0K | $256.0K | $2M | |
| Total Liabilities | $24M | $23M | $21M | $21M | $24M | $35M | $66M | $15M | $15M | $16M | $20M | $19M | $22M | $22M | $23M | $14M | |
| Common Stock | $5.0K | $5.0K | $5.0K | $4.0K | $4.0K | $4.0K | $3.0K | $3.0K | $3.0K | $3.0K | $3.0K | $3.0K | $3.0K | $15.0K | $3.0K | $15.0K | |
| Paid-in Capital | $577M | $563M | $555M | $531M | $529M | $496M | $481M | $461M | $461M | $460M | $459M | $458M | $452M | $450M | $447M | $441M | |
| Retained Earnings | $-506M | $-493M | $-481M | $-479M | $-476M | $-468M | $-491M | $-438M | $-431M | $-425M | $-418M | $-382M | $-353M | $-324M | $-303M | $-210M | |
| AOCI | $0 | $-1.0K | $11.0K | $14.0K | $-6.0K | $-3.0K | $6.0K | $0 | $0 | $-1.0K | $3.0K | $2.0K | $-12.0K | $42.0K | $-17.0K | $-134.0K | |
| Stockholders' Equity | $71M | $70M | $75M | $52M | $54M | $28M | $-10M | $23M | $30M | $34M | $41M | $76M | $99M | $126M | $144M | $231M | |
| Liabilities + Equity | $94M | $93M | $96M | $73M | $78M | $63M | $56M | $39M | $45M | $50M | $60M | $96M | $121M | $148M | $168M | $245M | |
| Shares Outstanding | 49,143,403 | 47,244,225 | 46,117,164 | 42,036,294 | 40,370,914 | 35,712,516 | 33,883,894 | 26,863,965 | 26,769,694 | 26,552,572 | 25,877,865 | 25,850,832 | 25,841,889 | 154,282,881 | 25,708,519 | 154,639,416 |
Cash Flow 12
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock-based Comp | $2M | $1M | $1M | $1M | $1M | $1M | $578.0K | $698.0K | $958.0K | $571.0K | $1M | $6M | $2M | $3M | $6M | $8M | |
| Amort. of Intangibles | $356.0K | $355.0K | · | · | $0 | $0 | $0 | $0 | $0 | $0 | $364.0K | $819.0K | $819.0K | $819.0K | $819.0K | $791.0K | |
| Restructuring | · | · | · | · | · | · | · | · | · | · | · | · | $5M | · | · | · | |
| Operating Cash Flow | $-10M | $-10M | $-9M | $-6M | $-5M | $-8M | $-5M | $-4M | $-6M | $-7M | $-16M | $-20M | $-20M | $-20M | $-21M | $-17M | |
| CapEx | $862.0K | $27.0K | $236.0K | $384.0K | $0 | $93.0K | $48.0K | $12.0K | $143.0K | $62.0K | $-251.0K | $360.0K | $273.0K | $400.0K | $452.0K | $356.0K | |
| Investing Cash Flow | $15M | $3M | $-4M | $13M | $-6M | $-28M | $-9M | $-12.0K | $-143.0K | $16M | $4M | $30M | $20M | $10M | $40M | $-40M | |
| Stock Issued | $11M | $7M | $7M | $668.0K | $14M | $14M | $20M | $0 | $0 | $0 | · | · | · | · | · | · | |
| Net Stock Activity | · | $7M | · | · | · | $14M | · | · | · | · | · | · | · | · | · | · | |
| Financing Cash Flow | $11M | $7M | $4M | $679.0K | $21M | $14M | $24M | $7.0K | $-27.0K | $-43.0K | $-11.0K | $-8.0K | $-56.0K | $-7.0K | $-411.0K | $-1M | |
| Net Change in Cash | $16M | $-365.0K | $-9M | $7M | $10M | $-21M | $10M | $-5M | $-6M | $9M | $-12M | $10M | $198.0K | $-10M | $19M | $-57M | |
| Taxes Paid | · | · | $2.0K | · | · | · | $0 | $10.0K | · | · | $4.0K | $0 | · | · | · | · | |
| Free Cash Flow | · | $-10M | · | · | · | $-8M | · | · | · | $-7M | · | · | · | $-21M | · | · |
Profitability 7
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | -231.9% | -336.9% | · | -937.8% | -797.4% | -405.3% | · | -838.0% | -213.3% | -213.7% | · | -1683.3% | -2346.1% | -1009.9% | · | -583.9% | |
| Net Margin | -213.1% | -356.4% | · | -434.9% | -737.6% | 1330.9% | · | -814.7% | -196.2% | -210.1% | · | -1586.3% | -2244.3% | -935.4% | · | -482.1% | |
| Pretax Margin | -213.1% | -356.4% | · | -434.9% | -737.6% | 1330.9% | · | -814.3% | -196.2% | -210.1% | · | -1586.3% | -2244.1% | -935.4% | · | -534.9% | |
| EBITDA Margin | -231.9% | -336.9% | · | -937.8% | -797.4% | -405.3% | · | -838.0% | -213.3% | -213.7% | · | -1683.3% | -2346.1% | -1009.9% | · | -583.9% | |
| ROA | -14.3% | -16.2% | · | -6.7% | -12.1% | 40.0% | · | -10.6% | -6.4% | -7.3% | · | -17.0% | -14.9% | -11.8% | · | -9.1% | |
| ROE | -19.8% | -25.7% | · | -9.9% | -17.9% | 72.8% | · | -14.2% | -8.3% | -9.0% | · | -18.9% | -16.6% | -13.2% | · | -9.6% | |
| ROIC | -18.9% | -17.1% | · | -15.6% | -15.0% | -24.5% | · | -31.2% | -19.4% | -21.5% | · | -40.4% | -30.2% | -18.4% | · | -10.6% |
Liquidity & Solvency 2
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 6.3 | 7.8 | · | 13.6 | 17.1 | 16.0 | · | 5.0 | 6.5 | 6.8 | · | 7.7 | 8.8 | 11.7 | · | 14.8 | |
| Quick Ratio | 5.6 | 7.1 | · | 12.9 | 16.4 | 14.9 | · | 4.5 | 5.6 | 6.2 | · | 7.1 | 7.9 | 10.3 | · | 14.0 |
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 | 0.0 | · | 0.0 | 0.0 | 0.0 | · | 0.0 | 0.0 | 0.0 | · | 0.0 | 0.0 | 0.0 | · | 0.0 | |
| Inventory Turnover | 8.1 | 4.7 | · | 12.1 | 12.5 | 9.7 | · | 0.9 | 0.3 | 0.6 | · | 0.6 | 0.3 | 0.5 | · | 1.6 | |
| Receivables Turnover | 4.5 | 4.0 | · | 1.8 | 2.8 | 6.0 | · | 0.9 | 3.0 | 2.5 | · | 0.9 | 1.1 | 1.5 | · | 2.8 |
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 | $11M | $7M | · | $4M | $6M | $9M | · | $9M | $9M | $9M | · | $10M | $11M | $11M | · | $10M | |
| Net Income TTM | $-36M | $-1M | · | $4M | $3M | $3M | · | $-49M | $-70M | $-86M | · | $-102M | $-96M | $-86M | · | $-102M | |
| Market Cap | $4M | $4M | · | $5M | $4M | $4M | · | $3M | $3M | $3M | · | $3M | $3M | $65M | · | $65M | |
| P/E | -0.1 | -3.8 | · | -11.0 | -0.9 | -0.5 | · | -0.1 | -0.0 | -0.0 | · | -0.0 | -0.0 | -0.1 | · | -0.2 | |
| P/S | 0.3 | 0.5 | · | 1.0 | 0.7 | 0.4 | · | 0.3 | 0.3 | 0.3 | · | 0.3 | 0.3 | 6.0 | · | 6.8 | |
| P/B | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.0 | 0.0 | 0.5 | · | 0.3 | |
| P / Tangible Book | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.0 | 0.0 | 0.6 | · | 0.5 | |
| P / Cash Flow | · | -0.3 | · | · | · | -0.5 | · | · | · | -0.4 | · | · | · | -3.2 | · | · | |
| P / FCF | · | -0.3 | · | · | · | -0.5 | · | · | · | -0.4 | · | · | · | -3.2 | · | · | |
| Earnings Yield | -1120.0% | -26.7% | · | -9.1% | -109.2% | -182.0% | · | -1710.7% | -2484.1% | -3066.4% | · | -3621.5% | -3457.7% | -671.4% | · | -554.8% |
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 | $5M | $8M | $6M | $15M | $5M |
| Operating Margin % | -617.7% | -345.8% | -1968.0% | -1215.2% | — |
| Net Income | $10M | $-73M | $-116M | $-157M | $-82M |
| Diluted EPS | $0.24 | $-2.71 | $-4.51 | $-6.42 | $-0.72 |
Balance Sheet
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Current Ratio | 9.3 | 9.6 | 5.3 | 12.3 | — |
| Quick Ratio | 8.5 | 9.1 | 4.7 | 11.0 | — |
Cash Flow
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Free Cash Flow | $-28M | $-23M | $-77M | $-67M | — |
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Institutional owners (13F) 26 filers · $722K 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 |
|---|---|---|---|---|
| 7 (+5 vs prior Q) | 0 (-5 vs prior Q) | 1 (+1 vs prior Q) | 2 (+1 vs prior Q) | +300K |
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 |
|---|---|---|---|---|
| Oasis Management Co Ltd. | $608,000 | 100,000 | 84.23% | Shares |
| LMR Partners LLP | $38,126 | 1,187,728 | 5.28% | Shares |
| COMERICA BANK | $14,233 | 232,558 | 1.97% | Shares |
| Greenland Capital Management LP | $9,657 | 306,565 | 1.34% | Shares |
| ADAGE CAPITAL PARTNERS GP, L.L.C. | $8,000 | 250,000 | 1.11% | Shares |
| MORGAN STANLEY | $6,741 | 210,641 | 0.93% | Shares |
| JANE STREET GROUP, LLC | $6,335 | 197,345 | 0.88% | Shares |
| Davidson Kempner Capital Management LP | $6,019 | 187,499 | 0.83% | Shares |
| Caption Management, LLC | $5,733 | 178,604 | 0.79% | Shares |
| FIFTH THIRD BANCORP | $2,719 | 84,693 | 0.38% | Shares |
| ENVESTNET ASSET MANAGEMENT INC | $2,719 | 84,693 | 0.38% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $2,545 | 80,808 | 0.35% | Shares |
| Verition Fund Management LLC | $2,330 | 73,970 | 0.32% | Shares |
| D. E. Shaw & Co., Inc. | $1,847 | 58,622 | 0.26% | Shares |
| Lombard Odier Asset Management (Europe) Ltd | $1,605 | 50,000 | 0.22% | Shares |
| MILLENNIUM MANAGEMENT LLC | $1,602 | 50,000 | 0.22% | Call option |
| Marathon Trading Investment Management LLC | $812 | 25,337 | 0.11% | Shares |
| TENOR CAPITAL MANAGEMENT Co., L.P. | $799 | 24,900 | 0.11% | Shares |
| TWO SIGMA SECURITIES, LLC | $624 | 19,476 | 0.09% | Shares |
| Ground Swell Capital, LLC | $499 | 15,843 | 0.07% | Shares |
| BlackRock, Inc. | $442 | 13,783 | 0.06% | Shares |
| UBS Group AG | $326 | 10,181 | 0.05% | Shares |
| Federation des caisses Desjardins du Quebec | $112 | 3,500 | 0.02% | Shares |
| BARCLAYS PLC | $16 | 500 | 0.00% | Shares |
| Virtu Financial LLC | $3 | 83,717 | 0.00% | Shares |
| Vestcor Inc | $2 | 74,999 | 0.00% | Shares |
Company insiders 6 insiders · 3 officers · 3 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Trevor Thatcher | CHIEF FINANCIAL OFFICER | June 8, 2026 A | 324,238 | 0 | 0 | $0 |
| Stephen Sonne | CHIEF LEGAL OFFICER | June 8, 2026 A | 346,031 | 0 | 0 | $0 |
| Denis Garagic | CHIEF TECHNOLOGY OFFICER | June 8, 2026 A | 1,008,053 | 0 | 0 | $0 |
| Michael T. Young | Director | June 8, 2026 A | 38,202 | 0 | 0 | $0 |
| Stephen Twitty | Director | June 8, 2026 A | 24,848 | 0 | 0 | $0 |
| Eric T Olson | Director | June 8, 2026 A | 74,079 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only