POWW Outdoor Holding Company - Common Stock
$2.29
Price · Aug 19, 2026
Fundamentals as of Feb 9, 2026
52W Range
$1–$3
72% of range
Analyst Rating
BUY
8 analysts
Price Target
$4
+53% upside
P/E (TTM)
-2.0
ROE
-50.2%
Net Profit Margin
-264.8%
POWW Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$2.29
Market Cap
$268M
P/E (TTM)
-2.0
EPS (TTM)
$-1.14
Revenue (TTM)
$49M
Div Yield
—
ROE
-50.2%
Debt/Equity
—
52W Range
$1 – $3
POWW 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
$49M
2019-03-31
→
2025-03-31
EPS
$-1.14
2021-03-31
→
2025-03-31
Free Cash Flow
$-8M
2019-03-31
→
2025-03-31
Margins
-264.8%
2019-03-31
→
2025-03-31
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Metric
5Y trend
POWW
Peer Median
P/E (TTM)
-2.0
12.1
P/S (TTM)
5.4
0.3
P/B
1.2
2.4
Price / FCF
-31.6
—
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Metric
5Y trend
POWW
Peer Median
Gross Margin
86.9%
54.1%
Operating Margin
-120.9%
—
Net Profit Margin
-264.8%
-4.8%
ROA
-37.4%
-4.0%
ROE
-50.2%
-35.9%
ROIC
-29.8%
—
Financial Health Debt, liquidity, solvency — balance sheet strength
Metric
5Y trend
POWW
Peer Median
Current Ratio
1.2
1.4
Quick Ratio
0.7
—
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Metric
5Y trend
POWW
Peer Median
Revenue YoY
-8.4%
—
Revenue CAGR 3Y
-41.0%
—
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
Metric
5Y trend
POWW
Peer Median
POWW Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
BUY
8 analysts
- Strong Buy 2 25.0%
- Buy 5 62.5%
- Hold 1 12.5%
- Sell 0 0.0%
- Strong Sell 0 0.0%
12-Month Price Target
2 analysts · 2026-08-16
Median
$3.50
← Below all targets
$2.29
Low
$3.00
High
$4.00
Median target
$3.50
+52.8%
Mean target
$3.50
+52.8%
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
0.00%
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| March 31, 2027 | $0.02 | $-0.01 | 0.03% |
| June 30, 2026 | $0.02 | $-0.01 | 0.03% |
| March 31, 2026 | $-0.01 | $-0.01 | 0.00% |
| Dec. 31, 2025 | $0.01 | $-0.02 | 0.03% |
| Sept. 30, 2025 | $-0.00 | $-0.04 | 0.04% |
| June 30, 2025 | $-0.06 | $-0.04 | -0.02% |
| March 31, 2025 | $-0.11 | $-0.03 | -0.08% |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| POWW | $161M | -1.2 | -8.4% | -264.8% | -50.2% | 86.9% |
| BBW | — | 15.0 | 6.7% | — | — | — |
| BNED | $354M | 21.0 | 6.5% | 0.98% | 5.8% | 21.3% |
| CLBR | — | — | — | — | — | — |
| FLWS | — | -1.6 | -8.0% | -11.9% | -52.4% | 38.7% |
| BRLT | — | -7.0 | 3.6% | -0.83% | -26.3% | 57.5% |
| RENT | — | 3.7 | 7.7% | 6.9% | -16.9% | — |
| BARK | — | -2.2 | -18.4% | — | — | — |
| PEW | $90M | -23.2 | 3.6% | -2.6% | -2.3% | 11.7% |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement 16
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $49M | $54M | $63M | $240M | $62M | $15M | $5M | · | $1M | |
| Cost of Revenue | $6M | $8M | $9M | $152M | $51M | $18M | $5M | · | $1M | |
| Gross Profit | $43M | $46M | $54M | $89M | $11M | $-4M | $-229.7K | · | $-8.7K | |
| SG&A Expense | $71M | $23M | $19M | $46M | $15M | $4M | $3M | · | $2M | |
| Operating Expenses | $103M | $53M | $52M | $60M | $17M | $10M | $9M | · | $4M | |
| Operating Income | $-60M | $-6M | $2M | $29M | $-5M | $-14M | $-9M | · | $-4M | |
| Interest Expense | · | · | · | · | · | · | · | · | $532.8K | |
| Other Non-op | $860.3K | $-174.4K | $-13.9K | $21.8K | $576.8K | $-719.2K | $-3M | · | · | |
| Pretax Income | $-59M | $-6M | $2M | $28M | $-8M | · | · | · | · | |
| Income Tax | $6M | $-948.3K | $-1M | $2M | · | · | · | · | · | |
| Net Income | $-131M | $-17M | $-9M | $26M | $-8M | $-15M | $-12M | · | $-6M | |
| EPS (Basic) | $-1.14 | $-0.17 | $-0.11 | $0.21 | $-0.14 | · | · | · | · | |
| EPS (Diluted) | $-1.14 | $-0.17 | $-0.11 | $0.20 | $-0.14 | · | · | · | · | |
| Shares (Basic) | 117,642,232 | 118,249,486 | 117,177,885 | 112,328,680 | 55,041,502 | · | · | · | · | |
| Shares (Diluted) | 117,642,232 | 118,249,486 | 117,177,885 | 114,825,835 | 55,041,502 | · | · | · | · | |
| EBITDA | $-46M | $-6M | · | $51M | $-4M | $-12M | $-9M | · | $-4M |
Balance Sheet 25
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $30M | $56M | $39M | $23M | $118M | $884.3K | $2M | $4M | $786.8K | |
| Receivables | $10M | $11M | $29M | $44M | $9M | $3M | $1M | $1M | $166.7K | |
| Inventory | · | $46M | $54M | $59M | $16M | $4M | $5M | $2M | $2M | |
| Prepaid Expense | $1M | $1M | $5M | $3M | $2M | $844.1K | $427.6K | $321.1K | $254.7K | |
| Current Assets | $72M | $132M | $128M | $130M | $146M | $9M | $9M | $8M | $3M | |
| PP&E (Net) | $6M | $5M | $56M | $38M | $22M | $18M | $22M | $1M | $769.4K | |
| PP&E (Gross) | $11M | $7M | $71M | $48M | $27M | $21M | $23M | $1M | $847.3K | |
| Accum. Depreciation | $4M | $3M | $15M | $10M | $6M | $3M | $516.1K | $113.2K | $77.9K | |
| Goodwill | $91M | $91M | $91M | $91M | · | · | · | · | · | |
| Intangibles | $99M | $111M | $129M | $142M | $8M | $4M | $6M | · | · | |
| Total Assets | $297M | $403M | $413M | $416M | $179M | $41M | $44M | $11M | $5M | |
| Accounts Payable | $18M | $16M | $18M | $27M | $4M | $5M | $2M | $479.5K | $476.9K | |
| Accrued Liabilities | $37M | $3M | $4M | $6M | $3M | $2M | $531.4K | $541.2K | $254.8K | |
| Short-term Debt | · | · | $180.8K | $684.6K | · | · | · | · | · | |
| Current Liabilities | $62M | $31M | $25M | $36M | $12M | $12M | $4M | $1M | $2M | |
| Capital Leases | $1M | $2M | $903.5K | $2M | $1M | $3M | · | · | · | |
| Deferred Tax | · | $0 | $0 | $2M | · | · | · | · | · | |
| Total Liabilities | $75M | $45M | $39M | $40M | $19M | $22M | $14M | $1M | $2M | |
| Common Stock | $116.8K | $119.2K | $118.3K | $116.5K | $93.1K | $46.2K | $44.0K | $28.4K | $22.5K | |
| Paid-in Capital | $434M | $431M | $425M | $414M | · | · | $49M | $17M | $8M | |
| Retained Earnings | $-204M | $-70M | $-50M | $-38M | $-62M | $-34M | $-19M | $-8M | $-6M | |
| Treasury Stock | $9M | $3M | $522.2K | · | · | · | · | · | · | |
| Stockholders' Equity | $222M | $358M | $374M | $376M | $161M | $19M | $30M | $10M | $3M | |
| Liabilities + Equity | $297M | $403M | $413M | $416M | $179M | $41M | $44M | $11M | $5M | |
| Shares Outstanding | 116,814,190 | 119,181,067 | 118,294,478 | 116,485,747 | 93,099,067 | 46,204,139 | 44,013,075 | 28,394,503 | 22,487,793 |
Cash Flow 15
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $14M | $13M | $13M | $14M | $2M | $2M | $96.3K | · | $7.3K | |
| Stock-based Comp | $123.9K | $430.5K | · | · | · | · | · | · | · | |
| Deferred Tax | $40M | $-4M | $712.2K | $293.4K | · | $3M | $2M | · | · | |
| Amort. of Intangibles | $12M | $12M | $13M | $13M | $2M | · | $196.9K | · | $71.0K | |
| Other Non-cash | $72M | $39M | · | $-46M | $-9M | $4M | $4M | · | · | |
| Operating Cash Flow | $-5M | $18M | $30M | $2M | $-14M | $-5M | $-7M | · | $-3M | |
| CapEx | $3M | $3M | $2M | $19M | $7M | $462.4K | $2M | · | $304.2K | |
| Investing Cash Flow | · | $-8M | $-13M | $-70M | $-7M | $-462.4K | $-10M | · | $-404.2K | |
| Stock Issued | · | · | · | · | $139M | $2M | · | · | $224.0K | |
| Stock Repurchased | $663.5K | · | · | · | · | · | $124.0K | · | · | |
| Net Stock Activity | $-663.5K | $-2M | · | · | $137M | · | · | · | $224.0K | |
| Financing Cash Flow | · | $-9M | $-7M | $-27M | $139M | $5M | $15M | · | $4M | |
| Net Change in Cash | $-25M | $16M | $16M | $-95M | $117M | $-1M | $-2M | · | $776.7K | |
| Taxes Paid | · | · | $1M | · | · | · | · | · | · | |
| Free Cash Flow | $-8M | $25M | · | $-16M | $-22M | $-6M | $-10M | · | $-4M |
Profitability 8
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 86.9% | 29.3% | · | 36.9% | 18.2% | -24.9% | -5.0% | · | · | |
| Operating Margin | -120.9% | -13.5% | · | 15.5% | -8.6% | -93.6% | -196.7% | · | · | |
| Net Margin | -264.8% | -11.4% | · | 13.8% | -12.5% | -98.5% | -256.5% | · | · | |
| Pretax Margin | -119.3% | -14.1% | · | 15.2% | · | · | · | · | · | |
| EBITDA Margin | -93.4% | -4.2% | · | 21.2% | -5.9% | -82.8% | -194.6% | · | · | |
| ROA | -37.4% | · | · | 11.2% | -7.1% | · | -43.2% | · | -145.7% | |
| ROE | -50.2% | · | · | 8.9% | -7.7% | · | -59.9% | · | -386.4% | |
| ROIC | -29.8% | · | · | 9.0% | · | · | · | · | · |
Liquidity & Solvency 3
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.2 | · | · | 3.6 | 12.0 | · | 1.9 | · | 1.3 | |
| Quick Ratio | 0.7 | · | · | 1.9 | 10.5 | · | 0.8 | · | 0.4 | |
| Interest Coverage | · | · | · | · | · | · | · | · | -7.5 |
Efficiency 3
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.1 | · | · | 0.8 | 0.6 | · | 0.2 | · | · | |
| Inventory Turnover | · | · | · | 4.0 | 5.0 | · | 1.3 | · | 1.3 | |
| Receivables Turnover | 4.7 | · | · | 9.1 | 10.4 | · | 3.8 | · | · |
Growth Rates 2
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue YoY | -8.4% | -14.6% | -73.7% | 284.5% | · | · | · | · | · | |
| Revenue CAGR 3Y | -41.0% | -4.8% | · | · | · | · | · | · | · |
Valuation (TTM) 10
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $49M | $54M | $63M | $240M | $62M | $15M | $5M | · | $1M | |
| Net Income TTM | $-131M | $-17M | $-9M | $26M | $-8M | $-15M | $-12M | · | $-6M | |
| Market Cap | $161M | · | · | $559M | $551M | · | $143M | · | $71M | |
| P/E | -1.2 | -16.2 | -17.9 | 24.0 | -42.3 | · | · | · | · | |
| P/S | 3.3 | · | · | 2.3 | 8.8 | · | 31.3 | · | 54.7 | |
| P/B | 0.7 | · | · | 1.5 | 3.4 | · | 4.8 | · | 28.3 | |
| P / Tangible Book | 5.0 | 2.1 | 1.5 | 3.9 | 3.6 | · | · | · | · | |
| P / Cash Flow | -31.8 | · | · | 196.0 | -38.2 | · | -19.6 | · | -21.6 | |
| P / FCF | -19.0 | · | · | -34.2 | -25.2 | · | -14.9 | · | -19.8 | |
| Earnings Yield | -82.6% | -6.2% | -5.6% | 4.2% | -2.4% | · | · | · | · |
Income Statement 15
| Metric | Trend | Q3 2026 | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $13M | $12M | $12M | $13M | $13M | $12M | $12M | $-51M | $36M | $34M | $34M | $-85M | $39M | $48M | $61M | $70M | |
| Cost of Revenue | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $-64M | $25M | $26M | $20M | $-95M | $26M | $35M | $43M | $49M | |
| Gross Profit | $12M | $10M | $10M | $11M | $11M | $10M | $11M | $13M | $11M | $8M | $14M | $11M | $13M | $13M | $18M | $21M | |
| SG&A Expense | $3M | $3M | $7M | $30M | $24M | $8M | $9M | $-13M | $10M | $14M | $13M | $-14M | $14M | $10M | $10M | $23M | |
| Operating Expenses | $10M | $10M | $16M | $38M | $31M | $16M | $17M | $6M | $13M | $17M | $16M | $8M | $17M | $13M | $13M | $27M | |
| Operating Income | $2M | $707.0K | $-6M | $-27M | $-21M | $-6M | $-6M | $7M | $-3M | $-9M | $-2M | $2M | $-4M | $-503.5K | $5M | $-6M | |
| Other Non-op | $510.3K | $825.5K | $496.3K | $243.5K | $161.7K | $202.9K | $252.2K | $-153.4K | $-188.5K | $-321.3K | $488.8K | $-42.1K | $-170.4K | $5.1K | $193.5K | $52 | |
| Pretax Income | $2M | $1M | $-6M | $-27M | $-20M | $-6M | $-6M | $8M | $-3M | $-10M | $-2M | $3M | $-5M | $-595.7K | $5M | $-6M | |
| Income Tax | · | · | · | $317.9K | · | · | $6M | $1M | $-359.2K | $-2M | $-205.6K | $-3M | $-721.1K | $207.8K | $2M | $690.9K | |
| Net Income | $2M | $1M | $-6M | $-78M | $-26M | $-12M | $-15M | $-5M | $-2M | $-8M | $-1M | $-7M | $-4M | $-803.5K | $3M | $-7M | |
| EPS (Basic) | $0.01 | $0.01 | $-0.06 | $-0.67 | $-0.23 | $-0.11 | $-0.13 | $-0.05 | $-0.03 | $-0.07 | $-0.02 | $-0.08 | $-0.04 | $-0.01 | $0.02 | $-0.07 | |
| EPS (Diluted) | $0.01 | $0.01 | $-0.06 | $-0.67 | $-0.23 | $-0.11 | $-0.13 | $-0.05 | $-0.03 | $-0.07 | $-0.02 | $-0.08 | $-0.04 | $-0.01 | $0.02 | $-0.06 | |
| Shares (Basic) | 117,201,724 | 117,110,827 | 116,841,148 | -236,406,768 | 116,214,522 | 118,728,976 | 119,105,502 | -236,078,701 | 118,447,154 | 118,167,228 | 117,713,805 | -233,658,605 | 117,348,511 | 116,927,607 | 116,560,372 | -221,479,564 | |
| Shares (Diluted) | 122,878,441 | 117,700,922 | 116,841,148 | -236,406,768 | 116,214,522 | 118,728,976 | 119,105,502 | -236,078,701 | 118,447,154 | 118,167,228 | 117,713,805 | -234,977,872 | 117,348,511 | 116,927,607 | 117,879,639 | -227,665,296 | |
| EBITDA | $6M | $4M | $-3M | · | $-23M | · | $-7M | · | $1M | $-5M | $2M | · | $-1M | $3M | $8M | · |
Balance Sheet 26
| Metric | Trend | Q3 2026 | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $70M | $66M | $63M | $30M | $32M | $34M | $51M | $56M | $55M | $50M | $48M | · | $27M | $29M | $21M | $23M | |
| Receivables | $9M | $9M | $9M | $10M | $17M | $20M | $19M | $11M | $21M | $23M | $21M | · | $30M | $30M | $39M | $44M | |
| Inventory | · | · | · | · | $47M | $52M | $55M | · | $50M | $53M | $56M | · | $67M | $69M | $65M | $59M | |
| Prepaid Expense | $3M | $4M | $2M | $1M | $3M | $4M | $4M | $1M | $4M | $4M | $5M | · | $4M | $4M | $5M | $3M | |
| Current Assets | $83M | $78M | $74M | $72M | $99M | $109M | $134M | $132M | $129M | $130M | $131M | · | $129M | $133M | $131M | $130M | |
| PP&E (Net) | $7M | $7M | $7M | $6M | $57M | $58M | $58M | $5M | $57M | $56M | $56M | · | $55M | $54M | $47M | $38M | |
| PP&E (Gross) | $11M | $11M | $11M | $11M | $82M | $81M | $80M | $7M | $76M | $73M | $72M | · | $69M | $66M | $58M | $48M | |
| Accum. Depreciation | $4M | $4M | $4M | $4M | $25M | $23M | $22M | $3M | $19M | $17M | $16M | · | $13M | $12M | $11M | $10M | |
| Goodwill | $91M | $91M | $91M | $91M | $91M | $91M | $91M | $91M | $91M | $91M | $91M | · | $91M | $91M | $91M | $91M | |
| Intangibles | $90M | $93M | $96M | $99M | $106M | $109M | $113M | $111M | $119M | $122M | $125M | · | $132M | $135M | $139M | · | |
| Total Assets | $272M | $270M | $269M | $297M | $355M | $369M | $399M | $403M | $401M | $403M | $408M | · | $418M | $424M | $422M | $416M | |
| Accounts Payable | $15M | $15M | $16M | $18M | $22M | $19M | $23M | $16M | $19M | $20M | $16M | · | $21M | $24M | $24M | $27M | |
| Accrued Liabilities | $5M | $7M | $6M | $37M | $20M | $9M | $17M | $3M | $7M | $6M | $5M | · | $4M | $5M | $7M | $6M | |
| Short-term Debt | · | · | · | · | · | · | · | · | · | · | · | · | · | · | · | $684.6K | |
| Current Liabilities | $21M | $23M | $23M | $62M | $42M | $30M | $42M | $31M | $27M | $28M | $24M | · | $28M | $32M | $34M | $36M | |
| Capital Leases | $753.8K | $803.7K | $921.4K | $1M | $1M | $1M | $1M | $2M | $2M | $744.6K | $825.0K | · | $980.0K | $2M | $2M | $2M | |
| Deferred Tax | · | · | · | · | · | · | $0 | · | · | $349.3K | $2M | · | $3M | $2M | $2M | · | |
| Other Non-current Liabilities | $2M | · | · | · | · | · | · | · | · | · | · | · | · | · | · | · | |
| Total Liabilities | $34M | $35M | $47M | $75M | $56M | $43M | $56M | $45M | $39M | $40M | $38M | · | $43M | $47M | $44M | $40M | |
| Common Stock | $117.3K | $117.1K | $117.1K | $116.8K | $116.5K | $116.2K | $118.8K | $119.2K | $118.6K | $118.5K | $117.9K | · | $117.9K | $117.3K | $116.9K | $116.5K | |
| Paid-in Capital | $455M | $454M | $442M | $434M | $434M | $433M | $432M | $431M | $395M | $394M | $393M | · | $391M | $388M | · | $414M | |
| Retained Earnings | $-209M | $-210M | $-211M | $-204M | $-126M | $-99M | $-85M | $-70M | $-32M | $-29M | $-21M | · | $-15M | $-10M | $-9M | $-38M | |
| Treasury Stock | $9M | $9M | $9M | $9M | $9M | $9M | $4M | $3M | $3M | $2M | $2M | · | $290.9K | · | · | · | |
| Stockholders' Equity | $237M | $235M | $223M | $222M | $300M | $326M | $342M | $358M | $361M | $363M | $370M | $374M | $375M | $378M | $378M | $376M | |
| Liabilities + Equity | $272M | $270M | $269M | $297M | $355M | $369M | $399M | $403M | $401M | $403M | $408M | · | $418M | $424M | $422M | $416M | |
| Shares Outstanding | 117,288,753 | 117,110,827 | 117,110,827 | 116,814,190 | 116,507,843 | 116,203,091 | 118,756,733 | 119,181,067 | 118,643,593 | 118,460,743 | 117,945,758 | · | 117,894,417 | 117,274,755 | 116,923,884 | 116,485,747 |
Cash Flow 14
| Metric | Trend | Q3 2026 | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $4M | $4M | $4M | $3M | $3M | $3M | $3M | $3M | $3M | $3M | $3M | $3M | $3M | $3M | $3M | $4M | |
| Stock-based Comp | $469.6K | $0 | $787.8K | $-4M | $1M | $1M | $1M | · | · | · | · | · | · | · | · | · | |
| Deferred Tax | · | · | · | $55M | $-9M | $-5M | $-4M | $-1M | $-488.2K | $-2M | $-207.1K | $-571.2K | $466.2K | $316.3K | $501.0K | $-664.6K | |
| Amort. of Intangibles | $3M | $3M | $3M | $3M | $3M | $3M | $3M | $2M | $3M | $3M | $3M | $-4M | $10M | $3M | $3M | $4M | |
| Other Non-cash | · | · | $-5M | · | · | · | · | · | · | · | $11M | · | · | · | $-2M | · | |
| Operating Cash Flow | $6M | $3M | $-7M | $-2M | $6M | $2M | $889.7K | $-11M | $10M | $5M | $13M | $12M | $721.2K | $12M | $5M | $5M | |
| CapEx | $645.2K | $700.6K | $889.8K | $816.3K | $-258.3K | $626.3K | $802.4K | $-3M | $3M | $1M | $1M | $-9M | $2M | $3M | $5M | $-31M | |
| Investing Cash Flow | · | · | · | · | $-1M | $-1M | $-1M | · | $-3M | $-1M | $-1M | · | $-2M | $-3M | $-5M | $-6M | |
| Stock Repurchased | $82.0K | $0 | $171.2K | $121.8K | $81.1K | $94.5K | $366.2K | · | $296.5K | $398.8K | $0 | · | · | · | · | · | |
| Net Stock Activity | · | · | $-171.2K | · | · | · | $-366.2K | · | · | · | $-1M | · | · | · | · | · | |
| Financing Cash Flow | · | · | · | · | $-2M | $-6M | $-3M | · | $-2M | $-2M | $-3M | · | $-971.1K | $-1M | $-1M | $-3M | |
| Net Change in Cash | $4M | $2M | $33M | $-2M | $-2M | $-17M | $-5M | $906.6K | $5M | $2M | $8M | $12M | $-2M | $8M | $-1M | $-4M | |
| Taxes Paid | · | · | · | · | · | · | · | · | · | · | $0 | $0 | $0 | · | · | · | |
| Free Cash Flow | · | · | $-8M | · | · | · | $-2M | · | · | · | $12M | · | · | · | $-52.4K | · |
Profitability 8
| Metric | Trend | Q3 2026 | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 87.1% | 87.1% | 87.2% | · | 26.7% | · | 31.6% | · | 30.3% | 24.1% | 40.9% | · | 32.4% | 26.6% | 29.8% | · | |
| Operating Margin | 14.7% | 5.9% | -50.7% | · | -89.5% | · | -33.6% | · | -5.3% | -25.7% | -4.9% | · | -11.2% | -1.0% | 8.3% | · | |
| Net Margin | 16.7% | 11.7% | -54.5% | · | -89.5% | · | · | · | -4.6% | -21.8% | -3.2% | · | -10.6% | -1.7% | 5.3% | · | |
| Pretax Margin | 16.7% | 11.7% | -49.4% | · | -89.5% | · | -33.5% | · | -5.9% | -27.2% | -3.5% | · | -12.5% | -1.2% | 8.5% | · | |
| EBITDA Margin | 41.8% | 35.7% | -21.1% | · | -77.8% | · | -22.7% | · | 4.1% | -15.8% | 4.9% | · | -2.6% | 5.8% | 13.9% | · | |
| ROA | 0.71% | 0.44% | -1.9% | · | -6.9% | · | · | · | -0.40% | -1.8% | -0.26% | · | -0.99% | -0.34% | 0.81% | · | |
| ROE | 0.83% | 0.50% | -2.3% | · | -7.9% | · | · | · | -0.45% | -2.0% | -0.29% | · | -1.1% | -0.41% | 0.91% | · | |
| ROIC | · | · | · | · | -8.7% | · | -4.3% | · | -0.41% | -1.9% | -0.42% | · | -0.98% | -0.18% | 0.85% | · |
Liquidity & Solvency 2
| Metric | Trend | Q3 2026 | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 4.0 | 3.4 | 3.3 | · | 2.3 | · | 3.2 | · | 4.8 | 4.7 | 5.5 | · | 4.6 | 4.2 | 3.8 | · | |
| Quick Ratio | 3.8 | 3.3 | 3.2 | · | 1.2 | · | 1.7 | · | 2.8 | 2.6 | 2.9 | · | 2.0 | 1.9 | 1.7 | · |
Efficiency 3
| Metric | Trend | Q3 2026 | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.0 | 0.0 | 0.0 | · | 0.1 | · | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | 0.2 | 0.2 | · | |
| Inventory Turnover | · | · | · | · | 0.4 | · | 0.4 | · | 0.4 | 0.4 | 0.3 | · | 0.5 | 0.9 | 0.9 | · | |
| Receivables Turnover | 1.0 | 0.8 | 0.8 | · | 1.5 | · | 1.5 | · | 1.4 | 1.3 | 1.1 | · | 1.0 | 2.7 | 1.9 | · |
Valuation (TTM) 10
| Metric | Trend | Q3 2026 | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $50M | $48M | $49M | · | $77M | $101M | $123M | · | $143M | $156M | $182M | · | $212M | $235M | $231M | · | |
| Net Income TTM | $-29M | $-44M | $-60M | · | $-59M | $-35M | $-30M | · | $-15M | $-14M | $-3M | · | $7M | $26M | $36M | · | |
| Market Cap | $201M | $173M | $150M | · | $128M | · | $200M | · | $249M | $239M | $251M | · | $204M | $344M | $450M | · | |
| P/E | -6.3 | -3.8 | -2.4 | · | -2.1 | -4.5 | -6.0 | · | -13.1 | -14.4 | -42.6 | · | 43.2 | 15.4 | 13.8 | · | |
| P/S | 4.0 | 3.6 | 3.1 | · | 1.7 | · | 1.6 | · | 1.7 | 1.5 | 1.4 | · | 1.0 | 1.5 | 1.9 | · | |
| P/B | 0.8 | 0.7 | 0.7 | · | 0.4 | · | 0.6 | · | 0.7 | 0.7 | 0.7 | · | 0.5 | 0.9 | 1.2 | · | |
| P / Tangible Book | 3.6 | 3.4 | 4.2 | · | 1.3 | 1.3 | 1.4 | · | 1.6 | 1.6 | 1.6 | · | 1.3 | 2.3 | 3.0 | · | |
| P / Cash Flow | · | · | -22.5 | · | · | · | -364.4 | · | · | · | 19.3 | · | · | · | 86.4 | · | |
| P / FCF | · | · | -19.8 | · | · | · | -101.4 | · | · | · | 21.5 | · | · | · | -8595.7 | · | |
| Earnings Yield | -15.8% | -26.4% | -41.4% | · | -47.3% | -22.4% | -16.7% | · | -7.6% | -6.9% | -2.4% | · | 2.3% | 6.5% | 7.3% | · |
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
Income Statement
| 2025-03-31 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | |
|---|---|---|---|---|---|
| Revenue | $49M | $54M | — | — | — |
| Gross Margin % | 86.9% | 29.3% | — | — | — |
| Operating Margin % | -120.9% | -13.5% | — | — | — |
| Net Income | $-131M | $-17M | — | — | — |
| Diluted EPS | $-1.14 | $-0.17 | — | — | — |
Balance Sheet
| 2025-03-31 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | |
|---|---|---|---|---|---|
| Current Ratio | 1.2 | — | — | — | — |
| Quick Ratio | 0.7 | — | — | — | — |
Cash Flow
| 2025-03-31 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | |
|---|---|---|---|---|---|
| Free Cash Flow | $-8M | $25M | — | — | — |
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Institutional owners (13F) 160 filers · $131.6M 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 |
|---|---|---|---|---|
| 21 (-9 vs prior Q) | 11 (-1 vs prior Q) | 54 (+14 vs prior Q) | 34 (+1 vs prior Q) | +2.4M |
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 |
|---|---|---|---|---|
| Balentine LLC | $39,313,714 | 17,242,857 | 29.88% | Shares |
| Kanen Wealth Management LLC | $26,366,880 | 11,512,794 | 20.04% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $9,281,515 | 4,070,840 | 7.05% | Shares |
| VANGUARD GROUP INC | $8,252,785 | 4,826,190 | 6.27% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $5,228,922 | 2,292,792 | 3.97% | Shares |
| First Eagle Investment Management, LLC | $4,886,884 | 2,143,370 | 3.71% | Shares |
| STATE STREET CORP | $4,596,526 | 2,016,020 | 3.49% | Shares |
| TWO SIGMA INVESTMENTS, LP | $2,731,223 | 1,197,905 | 2.08% | Shares |
| RENAISSANCE TECHNOLOGIES LLC | $2,389,294 | 1,047,936 | 1.82% | Shares |
| AWH Capital, L.P. | $2,314,200 | 1,015,000 | 1.76% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $1,988,550 | 872,171 | 1.51% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $1,640,043 | 719,317 | 1.25% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $1,580,925 | 693,388 | 1.20% | Shares |
| Aristides Capital LLC | $1,416,181 | 621,132 | 1.08% | Shares |
| BRIDGEWAY CAPITAL MANAGEMENT, LLC | $1,385,686 | 607,757 | 1.05% | Shares |
| JB CAPITAL PARTNERS LP | $1,254,000 | 550,000 | 0.95% | Shares |
| Empowered Funds, LLC | $1,215,142 | 532,957 | 0.92% | Shares |
| CITADEL ADVISORS LLC | $1,143,785 | 501,660 | 0.87% | Shares |
| 360 Financial, Inc. | $1,012,320 | 444,000 | 0.77% | Shares |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | $884,220 | 387,816 | 0.67% | Shares |
| JANE STREET GROUP, LLC | $847,170 | 371,566 | 0.64% | Shares |
| CANNELL CAPITAL LLC | $767,275 | 336,524 | 0.58% | Shares |
| STRS OHIO | $667,128 | 292,600 | 0.51% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $566,341 | 248,395 | 0.43% | Shares |
| Royal Capital Wealth Management, LLC | $557,004 | 244,300 | 0.42% | Shares |
| Squarepoint Ops LLC | $419,144 | 183,835 | 0.32% | Shares |
| Focus Partners Wealth | $395,083 | 173,282 | 0.30% | Shares |
| Point72 Asset Management, L.P. | $378,412 | 165,970 | 0.29% | Shares |
| RHUMBLINE ADVISERS | $277,741 | 121,818 | 0.21% | Shares |
| AMERICAN CENTURY COMPANIES INC | $268,096 | 117,586 | 0.20% | Shares |
| Centiva Capital, LP | $265,182 | 116,308 | 0.20% | Shares |
| 1492 Capital Management LLC | $238,944 | 104,800 | 0.18% | Shares |
| LeClair Wealth Partners LLC | $228,000 | 100,000 | 0.17% | Shares |
| Manatuck Hill Partners, LLC | $228,000 | 100,000 | 0.17% | Shares |
| DEUTSCHE BANK AG\ | $223,071 | 97,838 | 0.17% | Shares |
| Bank of New York Mellon Corp | $219,076 | 96,086 | 0.17% | Shares |
| CITADEL ADVISORS LLC | $209,304 | 91,800 | 0.16% | Call option |
| TWO SIGMA ADVISERS, LP | $207,081 | 121,100 | 0.16% | Shares |
| WELLS FARGO & COMPANY/MN | $205,515 | 90,138 | 0.16% | Shares |
| OCCUDO QUANTITATIVE STRATEGIES LP | $201,527 | 88,389 | 0.15% | Shares |
| Cetera Investment Advisers | $189,525 | 83,125 | 0.14% | Shares |
| RAYMOND JAMES FINANCIAL INC | $178,871 | 78,452 | 0.14% | Shares |
| BANK OF AMERICA CORP /DE/ | $172,033 | 75,453 | 0.13% | Shares |
| R Squared Ltd | $170,793 | 74,909 | 0.13% | Shares |
| ALLIANCEBERNSTEIN L.P. | $160,760 | 79,980 | 0.12% | Shares |
| MetLife Investment Management, LLC | $154,899 | 67,938 | 0.12% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $154,128 | 67,600 | 0.12% | Call option |
| SEI INVESTMENTS CO | $143,116 | 62,770 | 0.11% | Shares |
| Nuveen, LLC | $143,116 | 62,770 | 0.11% | Shares |
| IEQ CAPITAL, LLC | $139,602 | 61,229 | 0.11% | Shares |
| BNP PARIBAS FINANCIAL MARKETS | $134,951 | 59,189 | 0.10% | Shares |
| TUDOR INVESTMENT CORP ET AL | $133,619 | 58,605 | 0.10% | Shares |
| Vanguard Global Advisers, LLC | $115,605 | 50,704 | 0.09% | Shares |
| Rockefeller Capital Management L.P. | $115,140 | 50,500 | 0.09% | Shares |
| XTX Topco Ltd | $114,030 | 50,013 | 0.09% | Shares |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. | $112,997 | 49,560 | 0.09% | Shares |
| LPL Financial LLC | $109,404 | 47,984 | 0.08% | Shares |
| PARSONS CAPITAL MANAGEMENT INC/RI | $105,496 | 46,270 | 0.08% | Shares |
| HARBOUR INVESTMENTS, INC. | $104,406 | 45,792 | 0.08% | Shares |
| Qube Research & Technologies Ltd | $101,875 | 44,682 | 0.08% | Shares |
| TWO SIGMA SECURITIES, LLC | $101,667 | 44,591 | 0.08% | Shares |
| BARCLAYS PLC | $100,008 | 43,863 | 0.08% | Shares |
| CITIGROUP INC | $99,175 | 43,498 | 0.08% | Shares |
| Invesco Ltd. | $97,032 | 42,558 | 0.07% | Shares |
| H D Vest Advisory Services | $91,117 | 71,185 | 0.07% | Shares |
| MILLENNIUM MANAGEMENT LLC | $83,402 | 36,580 | 0.06% | Shares |
| Register Financial Advisors LLC | $81,168 | 35,600 | 0.06% | Shares |
| Schonfeld Strategic Advisors LLC | $75,291 | 33,023 | 0.06% | Shares |
| Nuveen Asset Management, LLC | $69,047 | 62,770 | 0.05% | Shares |
| Mariner, LLC | $61,533 | 26,981 | 0.05% | Shares |
| Watts Gwilliam & Co., LLC | $59,465 | 40,179 | 0.05% | Shares |
| Police & Firemen's Retirement System of New Jersey | $57,638 | 25,280 | 0.04% | Shares |
| MORGAN STANLEY | $56,840 | 24,930 | 0.04% | Shares |
| BlackRock, Inc. | $55,719 | 24,438 | 0.04% | Shares |
| INTECH INVESTMENT MANAGEMENT LLC | $54,868 | 24,065 | 0.04% | Shares |
| Beacon Pointe Advisors, LLC | $54,720 | 24,000 | 0.04% | Shares |
| BNC WEALTH MANAGEMENT, LLC | $54,720 | 24,000 | 0.04% | Shares |
| VOYA INVESTMENT MANAGEMENT LLC | $52,212 | 22,900 | 0.04% | Shares |
| J.W. COLE ADVISORS, INC. | $52,153 | 22,874 | 0.04% | Shares |
| Capital Investment Counsel, Inc | $50,388 | 22,100 | 0.04% | Shares |
| WEALTH ENHANCEMENT ADVISORY SERVICES, LLC | $49,006 | 19,761 | 0.04% | Shares |
| Prospera Financial Services Inc | $48,507 | 21,275 | 0.04% | Shares |
| OSAIC HOLDINGS, INC. | $47,472 | 20,822 | 0.04% | Shares |
| GOLDMAN SACHS GROUP INC | $46,929 | 20,583 | 0.04% | Shares |
| Triune Financial Partners, LLC | $46,455 | 20,375 | 0.04% | Shares |
| MARSHALL WACE, LLP | $44,197 | 19,384 | 0.03% | Shares |
| JONES FINANCIAL COMPANIES LLLP | $41,603 | 17,779 | 0.03% | Shares |
| Geneos Wealth Management Inc. | $39,672 | 17,400 | 0.03% | Shares |
| NORTHERN TRUST CORP | $38,596 | 16,928 | 0.03% | Shares |
| PRUDENTIAL FINANCIAL INC | $35,135 | 15,410 | 0.03% | Shares |
| MERCER GLOBAL ADVISORS INC /ADV | $35,098 | 15,394 | 0.03% | Shares |
| WOLVERINE TRADING, LLC | $34,848 | 24,200 | 0.03% | Call option |
| Tower Research Capital LLC (TRC) | $33,970 | 14,899 | 0.03% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $33,614 | 14,743 | 0.03% | Shares |
| PRIMORIS WEALTH ADVISORS, LLC | $32,604 | 14,300 | 0.02% | Shares |
| ProShare Advisors LLC | $32,130 | 14,092 | 0.02% | Shares |
| FMR LLC | $28,885 | 12,669 | 0.02% | Shares |
| Momentous Wealth Management, Inc. | $28,728 | 12,600 | 0.02% | Shares |
| Graham Capital Management, L.P. | $28,436 | 12,472 | 0.02% | Shares |
| Genesis Wealth Advisors, LLC | $26,434 | 11,594 | 0.02% | Shares |
Company insiders 14 insiders · 6 officers · 9 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Urvan Steven F. | Chief Executive Officer | Feb. 17, 2026 F | 17,347,814 | 0 | 0 | $0 |
| Borivoje Vukadinovic | CEO | Nov. 14, 2007 P | 5,945,987 | 0 | 0 | $0 |
| Paul Joseph Kasowski | CFO | Feb. 17, 2026 F | 117,058 | 0 | 0 | $0 |
| Elizabeth Ann Cross | COO, GunBroker | Nov. 15, 2025 F | 93,868 | 0 | 0 | $0 |
| Jordan Christensen | Chief Legal Officer | Feb. 17, 2026 F | 133,385 | 0 | 0 | $0 |
| Tod Jon Wagenhals | Executive VP, Secretary | March 31, 2025 F | 1,039,807 | 0 | 0 | $0 |
| David J. Douglas | Director | May 15, 2026 A | 45,000 | 0 | 0 | $0 |
| Houman Akhavan | Director | May 15, 2026 A | 45,000 | 0 | 0 | $0 |
| Christos George Tsentas | Director | Feb. 17, 2026 A | 161,413 | 0 | 0 | $0 |
| Wayne Remell Walker | Director | Feb. 17, 2026 A | 161,413 | 0 | 0 | $0 |
| Richard Reed Childress | Director | June 30, 2025 A | 362,500 | 0 | 0 | $0 |
| Randy E. Luth | Director | June 30, 2025 A | 588,555 | 0 | 0 | $0 |
| Russell William Wallace Jr | Director | June 30, 2025 A | 635,000 | 0 | 0 | $0 |
| Gary A Agron | 10% owner | Nov. 14, 2007 P | 5,945,987 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
Activists & 5%+ owners 1 position
Investors who filed SEC Schedule 13D — beneficial ownership above 5% with an intent to influence the issuer (activist stakes, board campaigns, M&A). Each row shows the most recent known state of that filer's position.
| Filer | Filed | Stake | Status | Purpose | Filing |
|---|---|---|---|---|---|
| Steven F. Urvan ×6 filings | May 23, 2025 | 19.34% | Amendment | — | SEC |
Purpose is an automated classification of the filer's own stated purpose (SEC Item 4) — not investment advice. "—" means no clear purpose was stated or the text could not be classified.
ETF ownership Held by 22 ETFs
Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.
| Fund | Weight | Units | As of | Source |
|---|---|---|---|---|
| OASC · Unified Series Trust | 0.20% | 79,826 NS | May 31, 2026 | N-PORT |
| RSSL · Global X Funds | 0.01% | 45,884 NS | April 30, 2026 | N-PORT |
| ITWO · ProShares Trust | 0.01% | 4,985 NS | May 31, 2026 | N-PORT |
| SCHA · SCHWAB STRATEGIC TRUST | 0.00% | 510,288 NS | May 31, 2026 | N-PORT |
| AVSC · AMERICAN CENTURY ETF TRUST | 0.00% | 57,267 NS | May 31, 2026 | N-PORT |
| UWM · ProShares Trust | 0.00% | 3,898 NS | May 31, 2026 | N-PORT |
| URTY · ProShares Trust | 0.00% | 3,938 NS | May 31, 2026 | N-PORT |
| DFSV · Dimensional ETF Trust | 0.00% | 47,932 NS | April 30, 2026 | N-PORT |
| MSSM · MORGAN STANLEY PATHWAY FUNDS | 0.00% | 4,293 NS | May 31, 2026 | N-PORT |
| HDG · ProShares Trust | 0.00% | 99 NS | May 31, 2026 | N-PORT |
| DFAS · Dimensional ETF Trust | 0.00% | 21,791 NS | April 30, 2026 | N-PORT |
| SCHB · SCHWAB STRATEGIC TRUST | 0.00% | 52,155 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 |
| IWV · iShares Trust | — | — | Aug. 18, 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 |