PINE Alpine Income Property Trust, Inc. Common Stock
$19.61
Price · Aug 19, 2026
Fundamentals as of Jul 23, 2026
52W Range
$13–$22
73% of range
Analyst Rating
BUY
18 analysts
Price Target
$22
+11% upside
P/E (TTM)
-89.1
ROE
-1.0%
Net Profit Margin
-4.4%
PINE Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$19.61
Market Cap
$290M
P/E (TTM)
-89.1
EPS (TTM)
$-0.22
Revenue (TTM)
$61M
Div Yield
6.1%
ROE
-1.0%
Debt/Equity
0.4
52W Range
$13 – $22
PINE 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
$61M
2018-12-31
→
2025-12-31
EPS
$-0.22
2020-12-31
→
2025-12-31
Free Cash Flow
$-219M
2023-12-31
→
2025-12-31
Margins
-4.4%
2024-12-31
→
2025-12-31
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Metric
5Y trend
PINE
Peer Median
P/E (TTM)
-89.1
43.6
P/S (TTM)
4.8
3.9
P/B
1.0
1.0
EV / EBITDA
9.5
—
Price / FCF
-1.3
—
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Metric
5Y trend
PINE
Peer Median
Gross Margin
86.0%
79.6%
Operating Margin
21.7%
—
Net Profit Margin
-4.4%
4.4%
ROA
-0.40%
0.65%
ROE
-1.0%
1.7%
Financial Health Debt, liquidity, solvency — balance sheet strength
Metric
5Y trend
PINE
Peer Median
Debt / Equity
0.4
—
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Metric
5Y trend
PINE
Peer Median
Revenue YoY
15.9%
—
Revenue CAGR 3Y
10.2%
—
Revenue CAGR 5Y
25.8%
—
EPS YoY
-26.3%
—
Net Income YoY
-29.2%
—
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
Metric
5Y trend
PINE
Peer Median
Payout Ratio
-667.6%
—
Dividends Yield, payout ratio, dividend history, 5Y CAGR
Dividend Yield
6.1%
Payout Ratio
-667.6%
5Y Div CAGR
—
| Ex-date | Amount |
|---|---|
| June 11, 2026 | $0.3000 |
| March 12, 2026 | $0.3000 |
| Dec. 11, 2025 | $0.2850 |
| Sept. 11, 2025 | $0.2850 |
| June 12, 2025 | $0.2850 |
| March 13, 2025 | $0.2850 |
| Dec. 12, 2024 | $0.2800 |
| Sept. 12, 2024 | $0.2800 |
| June 13, 2024 | $0.2750 |
| March 13, 2024 | $0.2750 |
| Dec. 13, 2023 | $0.2750 |
| Sept. 13, 2023 | $0.2750 |
| June 7, 2023 | $0.2750 |
| March 8, 2023 | $0.2750 |
| Dec. 9, 2022 | $0.2750 |
| Sept. 9, 2022 | $0.2750 |
| June 8, 2022 | $0.2700 |
| March 9, 2022 | $0.2700 |
| Dec. 8, 2021 | $0.2700 |
| Sept. 8, 2021 | $0.2550 |
PINE Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
BUY
18 analysts
- Strong Buy 4 22.2%
- Buy 10 55.6%
- Hold 4 22.2%
- Sell 0 0.0%
- Strong Sell 0 0.0%
12-Month Price Target
11 analysts · 2026-08-17
Median
$22.00
Now
$19.61
Low
$19.50
High
$23.00
Median target
$22.00
+12.2%
Mean target
$21.73
+10.8%
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
-0.03%
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| June 30, 2026 | $0.16 | $0.12 | 0.04% |
| March 31, 2026 | $0.06 | $0.08 | -0.02% |
| Dec. 31, 2025 | $0.06 | $0.02 | 0.04% |
| Sept. 30, 2025 | $-0.09 | $-0.01 | -0.08% |
| June 30, 2025 | $-0.12 | $-0.02 | -0.10% |
| March 31, 2025 | $-0.08 | $0.00 | -0.08% |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| PINE | $247M | -76.0 | 15.9% | -4.4% | -1.0% | 86.0% |
| AAT | $1.16B | 20.6 | -4.7% | — | — | 61.1% |
| CTO | $596M | 230.1 | 20.1% | 6.8% | 1.7% | 74.6% |
| AHRT | $531M | -94.6 | 4.1% | 2.0% | 0.86% | — |
| GOOD | — | — | — | — | — | — |
| NXDT | $192M | -1.4 | 3.3% | -151.4% | -17.0% | — |
| WPC | $14.10B | 19.3 | 8.4% | 27.2% | 5.6% | — |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement 11
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $61M | $52M | $46M | $45M | $30M | $19M | · | |
| Gross Profit | $52M | $44M | $39M | $40M | · | · | · | |
| SG&A Expense | $7M | $7M | $6M | $6M | $5M | $5M | · | |
| Operating Expenses | $49M | $42M | $42M | $35M | $25M | $17M | · | |
| Operating Income | $13M | $14M | $13M | $43M | $15M | $3M | · | |
| Net Income | $-3M | $2M | $3M | $30M | $10M | $985.0K | · | |
| EPS (Basic) | $-0.22 | $0.15 | $0.21 | $2.48 | $1.02 | $0.13 | · | |
| EPS (Diluted) | $-0.22 | $0.14 | $0.19 | $2.17 | $0.89 | $0.11 | · | |
| Shares (Basic) | 14,328,451 | 13,858,257 | 13,925,362 | 11,976,001 | 9,781,066 | 7,588,349 | · | |
| Shares (Diluted) | 15,552,305 | 15,082,111 | 15,560,524 | 13,679,495 | 11,246,227 | 8,812,203 | · | |
| EBITDA | $41M | $40M | $39M | $67M | $31M | $13M | · |
Balance Sheet 15
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $5M | $2M | $4M | $9M | $9M | $2M | $12M | |
| PP&E (Net) | $441M | $444M | $444M | $477M | $429M | $219M | $128M | |
| PP&E (Gross) | $496M | $490M | $478M | $499M | $444M | $226M | $128M | |
| Accum. Depreciation | $54M | $46M | $35M | $22M | $15M | $7M | $417.0K | |
| Intangibles | $49M | $44M | $49M | $60M | $59M | $37M | $22M | |
| Total Assets | $716M | $605M | $565M | $573M | $506M | $262M | $164M | |
| Total Liabilities | $415M | $328M | $289M | $278M | $278M | $113M | $3M | |
| Long-term Debt | $378M | $301M | $276M | $267M | $268M | $107M | · | |
| Total Debt | $100M | · | · | · | · | · | · | |
| Common Stock | $148.0K | $147.0K | $137.0K | $134.0K | $114.0K | $75.0K | $79.0K | |
| Retained Earnings | $-35M | $-16M | $-2M | $10M | $-6M | $-6M | $-498.0K | |
| AOCI | $1M | $7M | $9M | $15M | $2M | $-481.0K | · | |
| Stockholders' Equity | $280M | $253M | $251M | $262M | $197M | $127M | $138M | |
| Liabilities + Equity | $716M | $605M | $565M | $573M | $506M | $262M | $164M | |
| Shares Outstanding | 14,783,419 | 14,691,982 | 13,659,207 | 13,394,677 | 11,454,815 | 7,458,755 | 7,902,737 |
Cash Flow 15
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| D&A | $27M | $26M | $26M | $24M | $16M | $10M | · | |
| Stock-based Comp | $380.0K | $247.0K | $318.0K | $310.0K | $309.0K | $268.0K | · | |
| Amort. of Intangibles | $9M | $9M | $9M | $9M | $6M | $4M | · | |
| Other Non-cash | $646.0K | $-2M | $-3M | $-29M | $-9M | $-2M | · | |
| Operating Cash Flow | $26M | $23M | $23M | $25M | $17M | $9M | · | |
| CapEx | $244M | $132M | $120M | $189M | $223M | · | · | |
| Investing Cash Flow | $-104M | $-56M | $-11M | $-39M | $-196M | $-114M | · | |
| Debt Issued | $216M | $122M | $32M | $277M | $295M | $116M | · | |
| Net Debt Issued | $76M | $26M | $8M | $-750.0K | $132M | · | · | |
| Stock Issued | · | · | · | · | $68M | · | · | |
| Stock Repurchased | $9M | $775.0K | $15M | · | · | $5M | · | |
| Net Stock Activity | $-9M | $-775.0K | $-15M | · | $68M | $-5M | · | |
| Dividends Paid | $18M | $17M | $17M | $15M | $12M | $7M | · | |
| Financing Cash Flow | $109M | $26M | $-11M | $18M | $186M | $94M | · | |
| Free Cash Flow | $-219M | $-107M | $-94M | · | · | · | · |
Profitability 6
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 86.0% | 84.2% | · | · | · | · | · | |
| Operating Margin | 21.7% | 26.8% | 28.8% | 96.2% | 50.3% | 13.6% | · | |
| Net Margin | -4.4% | 4.0% | 6.4% | 65.8% | 33.1% | 5.1% | · | |
| EBITDA Margin | 66.9% | 75.8% | 85.2% | 148.3% | 103.2% | 65.2% | · | |
| ROA | -0.40% | 0.35% | 0.51% | 5.5% | 2.6% | 0.46% | · | |
| ROE | -1.0% | 0.82% | 1.1% | 13.0% | 6.2% | 0.75% | · |
Liquidity & Solvency 1
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.4 | · | · | · | · | · | · |
Efficiency 1
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | · |
Growth Rates 8
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Revenue YoY | 15.9% | 14.4% | 1.0% | 50.0% | 56.5% | · | · | |
| Revenue CAGR 3Y | 10.2% | 20.1% | 33.4% | · | · | · | · | |
| Revenue CAGR 5Y | 25.8% | · | · | · | · | · | · | |
| EPS YoY | · | -26.3% | -91.2% | 143.8% | 709.1% | · | · | |
| EPS CAGR 3Y | · | -46.0% | 20.0% | · | · | · | · | |
| Net Income YoY | · | -29.2% | -90.2% | 198.3% | 911.6% | · | · | |
| Net Income CAGR 3Y | · | -40.8% | 43.6% | · | · | · | · | |
| Dividend CAGR 5Y | 19.8% | · | · | · | · | · | · |
Valuation (TTM) 17
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $61M | $52M | $46M | $45M | $30M | $19M | · | |
| Net Income TTM | $-3M | $2M | $3M | $30M | $10M | $985.0K | · | |
| Market Cap | $247M | $247M | $231M | $256M | $230M | $112M | · | |
| Enterprise Value | $343M | · | · | · | · | · | · | |
| P/E | -76.0 | 119.9 | 89.0 | 8.8 | 22.5 | 136.3 | · | |
| P/S | 4.1 | 4.7 | 5.1 | 5.7 | 7.6 | 5.8 | · | |
| P/B | 0.9 | 1.0 | 0.9 | 1.0 | 1.2 | 0.9 | · | |
| P / Tangible Book | 1.1 | 1.2 | 1.1 | 1.3 | 1.7 | 1.2 | · | |
| P / Cash Flow | 9.6 | 9.6 | 9.0 | 10.4 | 13.3 | 11.9 | · | |
| P / FCF | -1.1 | -2.3 | -2.5 | · | · | · | · | |
| EV / EBITDA | 8.5 | · | · | · | · | · | · | |
| EV / FCF | -1.6 | · | · | · | · | · | · | |
| EV / Revenue | 5.7 | · | · | · | · | · | · | |
| Dividend Yield | 7.2% | 6.8% | 7.4% | 5.9% | 5.3% | 6.4% | · | |
| Earnings Yield | -1.3% | 0.83% | 1.1% | 11.4% | 4.4% | 0.73% | · | |
| Payout Ratio | -667.6% | 812.5% | 584.9% | 50.9% | 122.1% | 731.3% | · | |
| Annual Payout | $18M | $17M | $17M | $15M | $12M | $7M | · |
Income Statement 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 | $20M | $18M | $17M | $15M | $15M | $14M | $14M | $13M | $12M | $12M | $12M | $12M | $11M | $11M | $12M | $12M | |
| SG&A Expense | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $1M | $2M | $2M | $2M | $1M | $1M | |
| Operating Expenses | $11M | $12M | $11M | $12M | $13M | $13M | $11M | $10M | $10M | $10M | $10M | $13M | $10M | $9M | $9M | $9M | |
| Operating Income | $9M | $7M | $6M | $2M | $2M | $2M | $2M | $6M | $3M | $3M | $3M | $1M | $2M | $6M | $9M | $14M | |
| Net Income | $4M | $2M | $1M | $-1M | $-2M | $-1M | $-958.0K | $3M | $204.0K | $-260.0K | $335.0K | $-837.0K | $80.0K | $3M | $5M | $10M | |
| EPS (Basic) | $0.18 | $0.07 | $0.07 | $-0.09 | $-0.12 | $-0.08 | $-0.06 | $0.22 | $0.01 | $-0.02 | $0.02 | $-0.06 | $0.01 | $0.24 | $0.38 | $0.82 | |
| EPS (Diluted) | $0.16 | $0.06 | $0.07 | $-0.09 | $-0.12 | $-0.08 | $-0.06 | $0.21 | $0.01 | $-0.02 | $0.02 | $-0.05 | $0.01 | $0.21 | $0.34 | $0.72 | |
| Shares (Basic) | 17,066,917 | 15,544,745 | -28,661,456 | 14,158,190 | 14,202,796 | 14,628,921 | -27,132,115 | 13,744,232 | 13,624,932 | 13,621,208 | -28,080,558 | 13,946,194 | 14,059,173 | 14,000,553 | -23,418,975 | 11,888,171 | |
| Shares (Diluted) | 18,290,771 | 16,768,599 | -31,109,164 | 15,382,044 | 15,426,650 | 15,852,775 | -29,579,823 | 14,968,086 | 14,848,786 | 14,845,062 | -31,555,878 | 15,649,688 | 15,762,667 | 15,704,047 | -26,825,963 | 13,591,665 | |
| EBITDA | $16M | $14M | · | $9M | $9M | $10M | · | $13M | $9M | $9M | · | $8M | $9M | $13M | · | $20M |
Balance Sheet 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $3M | $3M | $5M | $1M | $5M | $6M | $2M | $3M | $3M | $5M | $4M | $6M | $8M | $4M | $9M | $4M | |
| PP&E (Net) | $453M | $438M | $441M | $448M | $448M | $457M | $444M | $407M | $445M | $441M | · | $452M | $455M | $426M | · | $466M | |
| PP&E (Gross) | $516M | $497M | $496M | $502M | $498M | $505M | $490M | $450M | $487M | $479M | · | $483M | $484M | $452M | · | $485M | |
| Accum. Depreciation | $63M | $59M | $54M | $54M | $51M | $48M | $46M | $42M | $42M | $39M | · | $32M | $29M | $26M | · | $19M | |
| Intangibles | $46M | $47M | $49M | $42M | $43M | $46M | $44M | $41M | $46M | $47M | · | $52M | $53M | $54M | · | $60M | |
| Total Assets | $782M | $745M | $716M | $621M | $628M | $647M | $605M | $579M | $566M | $559M | · | $558M | $567M | $565M | · | $566M | |
| Total Liabilities | $423M | $411M | $415M | $376M | $376M | $384M | $328M | $307M | $297M | $286M | · | $262M | $262M | $261M | · | $298M | |
| Long-term Debt | $368M | $359M | $378M | $358M | $353M | $357M | $301M | $279M | $268M | $272M | · | $249M | $249M | $249M | · | $287M | |
| Total Debt | · | · | · | $100M | $100M | · | · | · | · | · | · | · | · | · | · | · | |
| Common Stock | $176.0K | $165.0K | $148.0K | $142.0K | $142.0K | $144.0K | $147.0K | $143.0K | $136.0K | $136.0K | · | $138.0K | $140.0K | $141.0K | · | $119.0K | |
| Retained Earnings | $-41M | $-39M | $-35M | $-32M | $-27M | $-21M | $-16M | $-11M | $-10M | $-6M | · | $1M | $6M | $10M | · | $9M | |
| AOCI | $3M | $2M | $1M | $2M | $3M | $5M | $7M | $5M | $11M | $11M | · | $18M | $16M | $12M | · | $16M | |
| Stockholders' Equity | $337M | $312M | $280M | $224M | $230M | $241M | $253M | $248M | $244M | $248M | · | $263M | $271M | $271M | · | $234M | |
| Liabilities + Equity | $782M | $745M | $716M | $621M | $628M | $647M | $605M | $579M | $566M | $559M | · | $558M | $567M | $565M | · | $566M | |
| Shares Outstanding | 17,595,168 | 16,450,757 | 14,783,419 | 14,158,190 | 14,151,914 | 14,418,673 | 14,691,982 | 14,251,933 | 13,626,589 | 13,618,108 | · | 13,769,609 | 14,045,001 | 14,064,114 | · | 11,911,662 |
Cash Flow 15
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $7M | $7M | $7M | $7M | $7M | $7M | $7M | $6M | $6M | $6M | $6M | $7M | $6M | $6M | $6M | $6M | |
| Stock-based Comp | $95.0K | $95.0K | $95.0K | $95.0K | $95.0K | $95.0K | $9.0K | $79.0K | $80.0K | $79.0K | $80.0K | $79.0K | $79.0K | $80.0K | $74.0K | $79.0K | |
| Amort. of Intangibles | $3M | $3M | $2M | $2M | $2M | $3M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | |
| Other Non-cash | · | $-5M | · | · | · | $2M | · | · | · | $559.0K | · | · | · | $-4M | · | · | |
| Operating Cash Flow | $6M | $4M | $2M | $9M | $7M | $6M | $2M | $6M | $8M | $7M | $4M | $5M | $8M | $5M | $7M | $4M | |
| CapEx | · | $58M | $114M | $57M | $12M | $61M | $57M | $49M | $22M | $5M | $32M | $27M | $62M | $102.0K | · | · | |
| Investing Cash Flow | $-34M | $-25M | $-45M | $-15M | $6M | $-48M | $-48M | $-2M | $-2M | $-4M | $-21M | $-6M | $-39M | $55M | $-12M | $12M | |
| Debt Issued | $50M | $240M | $100M | $50M | $9M | $56M | $54M | $44M | $18M | $6M | $27M | $4M | $0 | $1M | $54M | $60M | |
| Net Debt Issued | · | $-16M | · | · | · | $55M | · | · | · | $-4M | · | · | · | $-18M | · | · | |
| Stock Issued | · | · | · | · | · | · | · | · | · | · | · | · | · | · | · | $812.0K | |
| Stock Repurchased | · | · | $0 | $0 | $4M | $4M | $0 | $0 | $0 | $775.0K | $10M | $5M | · | · | · | · | |
| Net Stock Activity | · | · | · | · | · | $-4M | · | · | · | $-775.0K | · | · | · | · | · | · | |
| Dividends Paid | $6M | $5M | $4M | $4M | $4M | $4M | $4M | $4M | $4M | $4M | $4M | $4M | $4M | $4M | $4M | $4M | |
| Financing Cash Flow | $27M | $9M | $75M | $1M | $-13M | $46M | $26M | $17M | $-8M | $-8M | $13M | $-9M | $-5M | $-10M | $2M | $-17M | |
| Free Cash Flow | · | $-53M | · | · | · | $-53M | · | · | · | $2M | · | · | · | · | · | · |
Profitability 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | 43.5% | 36.0% | · | 16.6% | 16.8% | 16.0% | · | 47.9% | 24.0% | 20.7% | · | 11.9% | 22.1% | 56.9% | · | 119.0% | |
| Net Margin | 20.9% | 11.9% | · | -9.0% | -11.0% | -8.3% | · | 22.9% | 1.6% | -2.1% | · | -7.2% | 0.70% | 29.9% | · | 84.7% | |
| EBITDA Margin | 77.5% | 75.2% | · | 61.9% | 61.9% | 67.4% | · | 95.0% | 74.9% | 71.9% | · | 68.4% | 78.2% | 113.7% | · | 169.8% | |
| ROA | 0.59% | 0.31% | · | -0.22% | -0.27% | -0.20% | · | 0.54% | 0.04% | -0.05% | · | -0.15% | 0.01% | 0.59% | · | 2.0% | |
| ROE | 1.5% | 0.79% | · | -0.56% | -0.69% | -0.48% | · | 1.2% | 0.08% | -0.10% | · | -0.34% | 0.03% | 1.4% | · | 4.6% |
Liquidity & Solvency 1
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | · | · | · | 0.4 | 0.4 | · | · | · | · | · | · | · | · | · | · | · |
Efficiency 1
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.0 | 0.0 | · | 0.0 | 0.0 | 0.0 | · | 0.0 | 0.0 | 0.0 | · | 0.0 | 0.0 | 0.0 | · | 0.0 |
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 | $68M | $62M | · | $57M | $55M | $53M | · | $50M | $48M | $47M | · | $46M | $45M | $45M | · | $42M | |
| Net Income TTM | $3M | $-2M | · | $-1M | $464.0K | $2M | · | $2M | $-813.0K | $2M | · | $12M | $27M | $28M | · | $26M | |
| Market Cap | $365M | $296M | · | $201M | $208M | $241M | · | $259M | $212M | $208M | · | $225M | $228M | $237M | · | $193M | |
| Enterprise Value | · | · | · | $299M | $303M | · | · | · | · | · | · | · | · | · | · | · | |
| P/E | 2076.0 | -78.3 | · | -177.1 | 735.5 | 139.3 | · | 121.3 | -311.2 | 101.9 | · | 18.4 | 8.2 | 8.2 | · | 8.5 | |
| P/S | 5.4 | 4.8 | · | 3.5 | 3.8 | 4.6 | · | 5.2 | 4.4 | 4.5 | · | 4.9 | 5.0 | 5.3 | · | 4.6 | |
| P/B | 1.1 | 0.9 | · | 0.9 | 0.9 | 1.0 | · | 1.0 | 0.9 | 0.8 | · | 0.9 | 0.8 | 0.9 | · | 0.8 | |
| P / Tangible Book | 1.3 | 1.1 | · | 1.1 | 1.1 | 1.2 | · | 1.2 | 1.1 | 1.0 | · | 1.1 | 1.0 | 1.1 | · | 1.1 | |
| P / Cash Flow | · | 67.9 | · | · | · | 30.5 | · | · | · | 30.8 | · | · | · | 44.0 | · | · | |
| P / FCF | · | -5.6 | · | · | · | -4.5 | · | · | · | 102.8 | · | · | · | · | · | · | |
| EV / EBITDA | · | · | · | 33.2 | 33.0 | · | · | · | · | · | · | · | · | · | · | · | |
| EV / Revenue | · | · | · | 5.2 | 5.5 | · | · | · | · | · | · | · | · | · | · | · | |
| Earnings Yield | 0.05% | -1.3% | · | -0.56% | 0.14% | 0.72% | · | 0.82% | -0.32% | 0.98% | · | 5.4% | 12.2% | 12.1% | · | 11.7% | |
| Payout Ratio | 134.7% | 241.4% | · | · | · | -381.3% | · | · | · | -1570.0% | · | · | · | 129.9% | · | · |
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 | $61M | $52M | $46M | $45M | $30M |
| Gross Margin % | 86.0% | 84.2% | — | — | — |
| Operating Margin % | 21.7% | 26.8% | 28.8% | 96.2% | 50.3% |
| Net Income | $-3M | $2M | $3M | $30M | $10M |
| Diluted EPS | $-0.22 | $0.14 | $0.19 | $2.17 | $0.89 |
Balance Sheet
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Debt / Equity | 0.4 | — | — | — | — |
Cash Flow
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Free Cash Flow | $-219M | $-107M | $-94M | — | — |
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Institutional owners (13F) 159 filers · $169.9M 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 |
|---|---|---|---|---|
| 27 (-9 vs prior Q) | 9 (+1 vs prior Q) | 65 (+10 vs prior Q) | 25 (-2 vs prior Q) | +918K |
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 |
|---|---|---|---|---|
| Sound Income Strategies, LLC | $25,650,926 | 1,235,594 | 15.10% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $13,962,657 | 672,575 | 8.22% | Shares |
| TWO SIGMA INVESTMENTS, LP | $13,634,421 | 656,764 | 8.02% | Shares |
| HEARTLAND ADVISORS INC | $9,449,433 | 455,175 | 5.56% | Shares |
| STATE STREET CORP | $7,146,339 | 344,236 | 4.21% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $7,126,170 | 343,185 | 4.19% | Shares |
| Pacific Ridge Capital Partners, LLC | $5,486,266 | 264,271 | 3.23% | Shares |
| GABELLI FUNDS LLC | $5,017,028 | 241,668 | 2.95% | Shares |
| Keeley-Teton Advisors, LLC | $4,774,413 | 285,551 | 2.81% | Shares |
| Truvestments Capital LLC | $4,341,147 | 209,111 | 2.55% | Shares |
| State of New Jersey Common Pension Fund D | $4,332,674 | 208,703 | 2.55% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $3,826,047 | 184,299 | 2.25% | Shares |
| LOS ANGELES CAPITAL MANAGEMENT LLC | $3,663,435 | 176,466 | 2.16% | Shares |
| RENAISSANCE TECHNOLOGIES LLC | $3,612,240 | 174,000 | 2.13% | Shares |
| MARSHALL WACE, LLP | $3,341,362 | 160,952 | 1.97% | Shares |
| KENNEDY CAPITAL MANAGEMENT LLC | $3,089,441 | 148,817 | 1.82% | Shares |
| LPL Financial LLC | $2,875,298 | 138,502 | 1.69% | Shares |
| BlackRock, Inc. | $2,778,394 | 133,834 | 1.64% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $2,173,759 | 104,709 | 1.28% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $1,927,898 | 92,866 | 1.13% | Shares |
| BLAIR WILLIAM & CO/IL | $1,737,473 | 83,693 | 1.02% | Shares |
| D. E. Shaw & Co., Inc. | $1,728,934 | 83,282 | 1.02% | Shares |
| MILLENNIUM MANAGEMENT LLC | $1,663,831 | 80,146 | 0.98% | Shares |
| Guardian Wealth Management, Inc. | $1,648,607 | 79,412 | 0.97% | Shares |
| GLOBEFLEX CAPITAL L P | $1,535,306 | 73,955 | 0.90% | Shares |
| JACOBS LEVY EQUITY MANAGEMENT, INC | $1,530,780 | 73,737 | 0.90% | Shares |
| Qube Research & Technologies Ltd | $1,387,764 | 66,848 | 0.82% | Shares |
| SEGALL BRYANT & HAMILL, LLC | $1,349,275 | 64,994 | 0.79% | Shares |
| Wakefield Asset Management LLLP | $1,342,363 | 64,661 | 0.79% | Shares |
| VANGUARD GROUP INC | $1,295,650 | 77,491 | 0.76% | Shares |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | $1,277,986 | 61,560 | 0.75% | Shares |
| HSBC HOLDINGS PLC | $1,266,686 | 60,957 | 0.75% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $1,148,568 | 55,326 | 0.68% | Shares |
| EXCHANGE TRADED CONCEPTS, LLC | $966,482 | 46,555 | 0.57% | Shares |
| CITADEL ADVISORS LLC | $944,850 | 45,513 | 0.56% | Shares |
| TWO SIGMA ADVISERS, LP | $891,176 | 53,300 | 0.52% | Shares |
| Cambria Investment Management, L.P. | $889,421 | 42,843 | 0.52% | Shares |
| CITADEL ADVISORS LLC | $876,072 | 42,200 | 0.52% | Call option |
| GOLDMAN SACHS GROUP INC | $708,622 | 34,134 | 0.42% | Shares |
| XTX Topco Ltd | $697,827 | 33,614 | 0.41% | Shares |
| GAMCO INVESTORS, INC. ET AL | $623,630 | 30,040 | 0.37% | Shares |
| Point72 Asset Management, L.P. | $579,453 | 27,912 | 0.34% | Shares |
| PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO | $572,706 | 27,587 | 0.34% | Shares |
| State of Wyoming | $528,799 | 25,472 | 0.31% | Shares |
| Campbell & CO Investment Adviser LLC | $526,204 | 25,347 | 0.31% | Shares |
| MACKENZIE FINANCIAL CORP | $517,235 | 24,915 | 0.30% | Shares |
| JANE STREET GROUP, LLC | $506,544 | 24,400 | 0.30% | Call option |
| Triumph Capital Management | $495,421 | 23,864 | 0.29% | Shares |
| RHUMBLINE ADVISERS | $484,677 | 23,347 | 0.29% | Shares |
| Kestra Advisory Services, LLC | $477,480 | 23,000 | 0.28% | Shares |
| Bank of New York Mellon Corp | $473,328 | 22,800 | 0.28% | Shares |
| Odyssean, LLC | $466,560 | 22,474 | 0.27% | Shares |
| KESTRA PRIVATE WEALTH SERVICES, LLC | $444,052 | 21,390 | 0.26% | Shares |
| Jump Financial, LLC | $432,285 | 20,823 | 0.25% | Shares |
| NOMURA ASSET MANAGEMENT CO LTD | $425,580 | 20,500 | 0.25% | Shares |
| Toroso Investments, LLC | $409,372 | 24,484 | 0.24% | Shares |
| ALLIANCEBERNSTEIN L.P. | $390,420 | 21,690 | 0.23% | Shares |
| Hillsdale Investment Management Inc. | $388,212 | 18,700 | 0.23% | Shares |
| AMERIPRISE FINANCIAL INC | $378,330 | 18,224 | 0.22% | Shares |
| MARTINGALE ASSET MANAGEMENT L P | $353,356 | 17,021 | 0.21% | Shares |
| Engineers Gate Manager LP | $334,610 | 16,118 | 0.20% | Shares |
| JEPPSON WEALTH MANAGEMENT, LLC | $326,576 | 15,731 | 0.19% | Shares |
| Russell Investments Group, Ltd. | $313,326 | 15,093 | 0.18% | Shares |
| OSAIC HOLDINGS, INC. | $311,393 | 14,999 | 0.18% | Shares |
| RAYMOND JAMES FINANCIAL INC | $299,033 | 14,404 | 0.18% | Shares |
| Sterling Capital Management LLC | $278,848 | 13,432 | 0.16% | Shares |
| Cetera Investment Advisers | $270,883 | 13,048 | 0.16% | Shares |
| FULCRUM WEALTH ADVISORS, LLC | $261,656 | 12,604 | 0.15% | Shares |
| Grantham, Mayo, Van Otterloo & Co. LLC | $261,057 | 12,575 | 0.15% | Shares |
| Asset Management One Co., Ltd. | $254,646 | 14,147 | 0.15% | Shares |
| Mitsubishi UFJ Asset Management Co., Ltd. | $249,452 | 12,016 | 0.15% | Shares |
| Sumitomo Mitsui Trust Group, Inc. | $245,632 | 11,832 | 0.14% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $242,892 | 11,700 | 0.14% | Call option |
| Diligent Investors, LLC | $240,188 | 11,570 | 0.14% | Shares |
| UBS Group AG | $238,906 | 11,508 | 0.14% | Shares |
| Abel Hall, LLC | $219,495 | 10,573 | 0.13% | Shares |
| Teton Advisors, LLC | $207,600 | 10,000 | 0.12% | Shares |
| MetLife Investment Management, LLC | $201,268 | 9,695 | 0.12% | Shares |
| Eurizon Capital SGR S.p.A. | $160,746 | 7,554 | 0.09% | Shares |
| HUNTINGTON NATIONAL BANK | $157,402 | 7,582 | 0.09% | Shares |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. | $148,662 | 7,161 | 0.09% | Shares |
| DEUTSCHE BANK AG\ | $145,943 | 7,030 | 0.09% | Shares |
| CITIGROUP INC | $137,743 | 6,635 | 0.08% | Shares |
| PNC Financial Services Group, Inc. | $133,611 | 6,436 | 0.08% | Shares |
| Invesco Ltd. | $127,508 | 6,142 | 0.08% | Shares |
| Resona Asset Management Co.,Ltd. | $113,591 | 5,354 | 0.07% | Shares |
| Daiwa Securities Group Inc. | $111,585 | 5,375 | 0.07% | Shares |
| Vanguard Global Advisers, LLC | $109,135 | 5,257 | 0.06% | Shares |
| NEW YORK STATE COMMON RETIREMENT FUND | $103,945 | 5,007 | 0.06% | Shares |
| MERCER GLOBAL ADVISORS INC /ADV | $95,453 | 4,598 | 0.06% | Shares |
| Police & Firemen's Retirement System of New Jersey | $83,808 | 4,037 | 0.05% | Shares |
| VIRTUS ADVISERS, LLC | $79,718 | 3,840 | 0.05% | Shares |
| BARCLAYS PLC | $64,211 | 3,093 | 0.04% | Shares |
| JPMORGAN CHASE & CO | $56,084 | 2,638 | 0.03% | Shares |
| STRS OHIO | $51,900 | 2,500 | 0.03% | Shares |
| JONES FINANCIAL COMPANIES LLLP | $51,289 | 2,467 | 0.03% | Shares |
| NORTHERN TRUST CORP | $50,800 | 2,447 | 0.03% | Shares |
| BNP PARIBAS FINANCIAL MARKETS | $49,969 | 2,407 | 0.03% | Shares |
| CWM, LLC | $46,044 | 2,558 | 0.03% | Shares |
| Key Capital Management, INC | $36,641 | 1,765 | 0.02% | Shares |
Company insiders 7 insiders · 1 officers · 7 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| John P Albright | President and CEO | Nov. 26, 2019 D | 0 | 0 | 0 | $0 |
| Andrew C Richardson | Director | July 28, 2026 S | 8,425 | 0 | 8 | $-260,652 |
| Brenna Andrea Wadleigh | Director | July 1, 2026 A | 11,257 | 0 | 0 | $0 |
| Wein Rachel Elias | Director | July 1, 2026 A | 15,756 | 0 | 0 | $0 |
| Morton Carson Good | Director | July 1, 2026 A | 28,233 | 0 | 0 | $0 |
| Jeffrey Scott Yarckin | Director | Nov. 26, 2019 A | 2,000 | 0 | 0 | $0 |
| Mark Okey Decker Jr | Director | Nov. 26, 2019 A | 2,000 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
ETF ownership Held by 25 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 |
|---|---|---|---|---|
| NETL · ETF Series Solutions | 1.55% | 39,438 NS | May 31, 2026 | N-PORT |
| RIET · ETF Series Solutions | 1.30% | 70,776 NS | May 31, 2026 | N-PORT |
| BLDG · Cambria ETF Trust | 1.27% | 34,520 NS | April 30, 2026 | N-PORT |
| FXED · Tidal Trust I | 1.16% | 23,958 NS | May 31, 2026 | N-PORT |
| EBIT · Harbor ETF Trust | 0.04% | 267 NS | April 30, 2026 | N-PORT |
| DFAR · Dimensional ETF Trust | 0.02% | 20,548 NS | April 30, 2026 | N-PORT |
| DFGR · Dimensional ETF Trust | 0.01% | 23,503 NS | April 30, 2026 | N-PORT |
| RSSL · Global X Funds | 0.01% | 5,834 NS | April 30, 2026 | N-PORT |
| ITWO · ProShares Trust | 0.01% | 619 NS | May 31, 2026 | N-PORT |
| UWM · ProShares Trust | 0.00% | 484 NS | May 31, 2026 | N-PORT |
| URTY · ProShares Trust | 0.00% | 489 NS | May 31, 2026 | N-PORT |
| HDG · ProShares Trust | 0.00% | 12 NS | May 31, 2026 | N-PORT |
| MSSM · MORGAN STANLEY PATHWAY FUNDS | 0.00% | 361 NS | May 31, 2026 | N-PORT |
| VXF · VANGUARD INDEX FUNDS | — | — | July 15, 2026 | Daily |
| VTI · VANGUARD INDEX FUNDS | — | — | July 15, 2026 | Daily |
| VTWO · VANGUARD SCOTTSDALE FUNDS | — | — | July 15, 2026 | Daily |
| VTWV · VANGUARD SCOTTSDALE FUNDS | — | — | July 15, 2026 | Daily |
| VTHR · VANGUARD SCOTTSDALE FUNDS | — | — | July 15, 2026 | Daily |
| IWN · iShares Trust | — | — | Aug. 17, 2026 | Daily |
| IWM · iShares Trust | — | — | Aug. 18, 2026 | Daily |
| IWC · iShares Trust | — | — | Aug. 18, 2026 | Daily |
| PRFZ · Invesco Exchange-Traded Fund Trust | — | — | July 13, 2026 | Daily |
| OMFS · Invesco Exchange-Traded Self-Indexe… | — | — | July 13, 2026 | Daily |
| USRT · iShares Trust | — | — | Aug. 13, 2026 | Daily |
| KBWY · Invesco Exchange-Traded Fund Trust … | — | — | Aug. 18, 2026 | Daily |