PUBM PubMatic, Inc. - Class A Common Stock
$17.33
Price · Aug 19, 2026
Fundamentals as of Aug 6, 2026
52W Range
$6–$18
91% of range
Analyst Rating
BUY
19 analysts
Price Target
$20
+17% upside
P/E (TTM)
-28.6
ROE
-5.7%
Net Profit Margin
-5.1%
PUBM Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$17.33
Market Cap
—
P/E (TTM)
-28.6
EPS (TTM)
$-0.31
Revenue (TTM)
$283M
Div Yield
—
ROE
-5.7%
Debt/Equity
—
52W Range
$6 – $18
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10-Year Performance Revenue, net income, margins and EPS trends
Revenue & Net Income
$283M
2019-12-31
→
2025-12-31
EPS
$-0.31
2019-12-31
→
2025-12-31
Free Cash Flow
$67M
2021-12-31
→
2025-12-31
Margins
-5.1%
2021-12-31
→
2025-12-31
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Metric
5Y trend
PUBM
Peer Median
P/E (TTM)
-28.6
197.0
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Metric
5Y trend
PUBM
Peer Median
Gross Margin
63.6%
64.4%
Operating Margin
-6.1%
—
Net Profit Margin
-5.1%
-4.7%
ROA
-2.0%
-2.0%
ROE
-5.7%
-4.0%
ROIC
-6.0%
—
Financial Health Debt, liquidity, solvency — balance sheet strength
Metric
5Y trend
PUBM
Peer Median
Current Ratio
1.4
1.7
Quick Ratio
1.3
—
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Metric
5Y trend
PUBM
Peer Median
Revenue YoY
-2.9%
—
Revenue CAGR 3Y
3.3%
—
Revenue CAGR 5Y
13.7%
—
EPS YoY
43.8%
—
Net Income YoY
40.8%
—
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
Metric
5Y trend
PUBM
Peer Median
PUBM Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
BUY
19 analysts
- Strong Buy 4 21.1%
- Buy 9 47.4%
- Hold 6 31.6%
- Sell 0 0.0%
- Strong Sell 0 0.0%
12-Month Price Target
10 analysts · 2026-08-17
Median
$20.50
Now
$17.33
Low
$17.00
High
$23.00
Median target
$20.50
+18.3%
Mean target
$20.30
+17.1%
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
0.08%
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| June 30, 2026 | $-0.03 | $-0.18 | 0.15% |
| March 31, 2026 | $-0.27 | $-0.32 | 0.05% |
| Dec. 31, 2025 | $0.14 | $-0.01 | 0.15% |
| Sept. 30, 2025 | $-0.14 | $-0.19 | 0.05% |
| June 30, 2025 | $-0.11 | $-0.16 | 0.05% |
| March 31, 2025 | $-0.20 | $-0.21 | 0.01% |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| PUBM | — | -28.6 | -2.9% | -5.1% | -5.7% | 63.6% |
| CCO | — | 55.2 | 6.6% | — | — | — |
| MNTN | $0 | -91.8 | 28.6% | -2.2% | -2.4% | 77.2% |
| IBTA | $740M | 189.4 | -6.8% | 1.0% | 1.1% | 79.2% |
| BOC | — | -30.9 | 5.6% | — | — | — |
| ADV | $287M | -1.7 | -0.66% | -6.4% | -36.8% | — |
| TTGT | $390M | -0.4 | 70.9% | -207.1% | -159.6% | 60.2% |
| NCMI | $363M | -35.4 | 1.0% | -4.4% | -2.7% | — |
| OMC | $25.28B | -299.1 | 10.1% | -0.32% | -0.67% | — |
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 | $283M | $291M | $267M | $256M | $227M | $149M | $114M | |
| Cost of Revenue | $103M | $101M | $99M | $82M | $58M | $41M | $36M | |
| Gross Profit | $180M | $190M | $168M | $175M | $169M | $108M | $78M | |
| R&D Expense | $34M | $33M | $27M | $21M | $16M | $12M | $12M | |
| SG&A Expense | $60M | $58M | $56M | $45M | $36M | $20M | $20M | |
| Operating Expenses | $197M | $186M | $166M | $134M | $110M | $76M | $69M | |
| Operating Income | $-17M | $4M | $2M | $41M | $59M | $32M | $9M | |
| Interest Income | · | · | · | $2M | $300.0K | $537.0K | $1M | |
| Other Non-op | $-4M | $5M | $-359.0K | $681.0K | $281.0K | $-712.0K | $-577.0K | |
| Pretax Income | $-16M | $18M | $11M | $37M | $65M | $32M | $9M | |
| Income Tax | $-1M | $5M | $2M | $9M | $8M | $5M | $3M | |
| Net Income | $-14M | $13M | $9M | $29M | $57M | $27M | $7M | |
| EPS (Basic) | $-0.31 | $0.25 | $0.17 | $0.55 | $1.13 | $0.51 | $0.04 | |
| EPS (Diluted) | $-0.31 | $0.23 | $0.16 | $0.50 | $1.00 | $0.46 | $0.04 | |
| Shares (Basic) | 47,008,000 | 49,213,000 | 51,760,000 | 52,278,000 | 50,184,000 | 12,642,293 | 10,036,983 | |
| Shares (Diluted) | 47,008,000 | 54,294,000 | 56,027,000 | 56,908,000 | 56,629,000 | 17,125,882 | 12,169,884 | |
| EBITDA | $2M | $29M | $31M | $64M | $74M | · | · |
Balance Sheet 25
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $146M | $100M | $79M | $92M | $83M | $81M | · | |
| Receivables | $358M | $425M | $375M | $314M | $287M | $220M | · | |
| Prepaid Expense | $19M | $10M | $11M | $15M | $14M | $7M | · | |
| Current Assets | $523M | $576M | $562M | $503M | $461M | $327M | · | |
| PP&E (Net) | $53M | $59M | $61M | $71M | $50M | $30M | · | |
| PP&E (Gross) | $251M | $234M | $201M | $176M | $127M | $89M | · | |
| Accum. Depreciation | $198M | $176M | $141M | $105M | $77M | $59M | · | |
| Goodwill | $30M | $30M | $30M | $30M | $6M | $6M | · | |
| Intangibles | $3M | $4M | $6M | $8M | $0 | · | · | |
| Other Non-current Assets | $3M | $2M | $2M | $2M | $11M | $7M | · | |
| Total Assets | $680M | $740M | $695M | $642M | $550M | $371M | · | |
| Accounts Payable | $344M | $387M | $348M | $277M | $244M | $177M | · | |
| Accrued Liabilities | $25M | $26M | $26M | $19M | $19M | $15M | · | |
| Current Liabilities | $376M | $419M | $380M | $302M | $267M | $192M | · | |
| Capital Leases | $37M | $40M | $16M | $21M | $18M | $0 | · | |
| Deferred Tax | · | · | $0 | $573.0K | $6M | $2M | · | |
| Other Non-current Liabilities | $5M | $4M | $4M | $6M | $2M | $3M | · | |
| Total Liabilities | $418M | $462M | $399M | $330M | $293M | $196M | · | |
| Common Stock | $7.0K | $6.0K | $6.0K | $6.0K | $6.0K | $6.0K | · | |
| Paid-in Capital | $321M | $275M | $230M | $196M | $169M | $144M | · | |
| Retained Earnings | $135M | $149M | $137M | $128M | $99M | $43M | · | |
| Treasury Stock | $193M | $147M | $71M | $11M | $11M | $11M | · | |
| AOCI | $68.0K | $-636.0K | $-4.0K | $-9.0K | $-36.0K | $1.0K | · | |
| Stockholders' Equity | $263M | $277M | $296M | $312M | $257M | $175M | $13M | |
| Liabilities + Equity | $680M | $740M | $695M | $642M | $550M | $371M | · |
Cash Flow 13
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| D&A | $19M | $25M | $28M | $24M | $16M | $16M | $7M | |
| Deferred Tax | $-14M | $-11M | $-13M | $-7M | $5M | $3M | $193.0K | |
| Amort. of Intangibles | $2M | $2M | $2M | $600.0K | · | · | · | |
| Other Non-cash | $91M | $47M | $57M | $42M | $12M | · | · | |
| Operating Cash Flow | $81M | $73M | $81M | $87M | $89M | $24M | $35M | |
| CapEx | $14M | $18M | $11M | $36M | $30M | $24M | $10M | |
| Investing Cash Flow | $6M | $22M | $-39M | $-81M | $-97M | $-30M | $-22M | |
| Stock Repurchased | $46M | $75M | $59M | $0 | $52.0K | $3.0K | $5.0K | |
| Net Stock Activity | $-46M | $-75M | $-59M | $0 | $-52.0K | · | · | |
| Financing Cash Flow | $-43M | $-73M | $-56M | $4M | $9M | $52M | $-1.0K | |
| Net Change in Cash | · | · | $-14M | $10M | $1M | $47M | $13M | |
| Taxes Paid | $9M | $14M | $16M | $9M | $7M | $3M | $3M | |
| Free Cash Flow | $67M | $56M | $71M | $51M | $58M | · | · |
Profitability 8
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 63.6% | 65.3% | 62.8% | 68.2% | 74.3% | · | · | |
| Operating Margin | -6.1% | 1.4% | 0.76% | 15.8% | 25.9% | · | · | |
| Net Margin | -5.1% | 4.3% | 3.3% | 11.2% | 24.9% | · | · | |
| Pretax Margin | -5.6% | 6.1% | 3.9% | 14.6% | 28.6% | · | · | |
| EBITDA Margin | 0.62% | 9.9% | 11.4% | 25.0% | 32.8% | · | · | |
| ROA | -2.0% | 1.7% | 1.3% | 4.8% | 12.3% | · | · | |
| ROE | -5.7% | 4.6% | 3.0% | 9.5% | 23.7% | · | · | |
| ROIC | -6.0% | 1.0% | 0.58% | 9.9% | 20.0% | · | · |
Liquidity & Solvency 2
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.4 | 1.4 | 1.5 | 1.7 | 1.7 | · | · | |
| Quick Ratio | 1.3 | 1.3 | 1.2 | 1.3 | 1.4 | · | · |
Efficiency 2
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.4 | 0.4 | 0.4 | 0.4 | 0.5 | · | · | |
| Receivables Turnover | 0.7 | 0.7 | 0.8 | 0.9 | 0.9 | · | · |
Growth Rates 7
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Revenue YoY | -2.9% | 9.1% | 4.2% | 13.0% | 52.5% | · | · | |
| Revenue CAGR 3Y | 3.3% | 8.7% | 21.5% | · | · | · | · | |
| Revenue CAGR 5Y | 13.7% | · | · | · | · | · | · | |
| EPS YoY | · | 43.8% | -68.0% | -50.0% | 117.4% | · | · | |
| EPS CAGR 3Y | · | -38.7% | -29.7% | · | · | · | · | |
| Net Income YoY | · | 40.8% | -69.1% | -49.3% | 112.7% | · | · | |
| Net Income CAGR 3Y | · | -39.6% | -30.6% | · | · | · | · |
Valuation (TTM) 4
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $283M | $291M | $267M | $256M | $227M | $149M | · | |
| Net Income TTM | $-14M | $13M | $9M | $29M | $57M | $27M | · | |
| P/E | -28.6 | 63.9 | 101.9 | 25.6 | 34.0 | 60.8 | · | |
| Earnings Yield | -3.5% | 1.6% | 0.98% | 3.9% | 2.9% | 1.7% | · |
Income Statement 16
| 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 | $79M | $63M | $80M | $68M | $71M | $64M | $86M | $72M | $67M | $67M | $85M | $64M | $63M | $55M | $74M | $64M | |
| Cost of Revenue | $26M | $26M | $25M | $25M | $27M | $26M | $25M | $26M | $25M | $25M | $24M | $26M | $25M | $24M | $23M | $22M | |
| Gross Profit | $53M | $36M | $55M | $43M | $44M | $38M | $61M | $46M | $42M | $41M | $60M | $38M | $38M | $32M | $51M | $43M | |
| R&D Expense | $9M | $8M | $6M | $10M | $9M | $9M | $8M | $9M | $9M | $8M | $7M | $7M | $7M | $7M | $6M | $5M | |
| SG&A Expense | $17M | $15M | $15M | $16M | $16M | $15M | $14M | $15M | $14M | $14M | $13M | $12M | $19M | $13M | $11M | $12M | |
| Operating Expenses | $52M | $52M | $46M | $51M | $50M | $50M | $46M | $48M | $46M | $47M | $40M | $38M | $45M | $42M | $35M | $33M | |
| Operating Income | $579.0K | $-15M | $9M | $-8M | $-5M | $-12M | $15M | $-1M | $-4M | $-6M | $20M | $-571.0K | $-7M | $-11M | $17M | $10M | |
| Other Non-op | $89.0K | $-1M | $-211.0K | $-937.0K | $-2M | $-1M | $2M | $-930.0K | $4M | $258.0K | $117.0K | $210.0K | $-221.0K | $-465.0K | $5M | $-5M | |
| Pretax Income | $2M | $-15M | $10M | $-8M | $-6M | $-11M | $18M | $-326.0K | $2M | $-3M | $23M | $2M | $-5M | $-9M | $17M | $5M | |
| Income Tax | $3M | $-3M | $3M | $-2M | $-862.0K | $-2M | $5M | $586.0K | $412.0K | $-249.0K | $4M | $111.0K | $545.0K | $-3M | $4M | $1M | |
| Net Income | $-1M | $-13M | $7M | $-6M | $-5M | $-9M | $14M | $-912.0K | $2M | $-2M | $19M | $2M | $-6M | $-6M | $13M | $3M | |
| EPS (Basic) | $-0.03 | $-0.27 | $0.14 | $-0.14 | $-0.11 | $-0.20 | $0.28 | $-0.02 | $0.04 | $-0.05 | $0.36 | $0.03 | $-0.11 | $-0.11 | $0.25 | $0.06 | |
| EPS (Diluted) | $-0.03 | $-0.27 | $0.14 | $-0.14 | $-0.11 | $-0.20 | $0.26 | $-0.02 | $0.04 | $-0.05 | $0.35 | $0.03 | $-0.11 | $-0.11 | $0.22 | $0.06 | |
| Shares (Basic) | 46,106,000 | 47,120,000 | -94,456,000 | 45,933,000 | 47,185,000 | 48,346,000 | -99,662,000 | 49,056,000 | 49,780,000 | 50,039,000 | -104,647,000 | 51,638,000 | 52,029,000 | 52,740,000 | -104,223,572 | 52,436,000 | |
| Shares (Diluted) | 46,106,000 | 47,120,000 | -94,456,000 | 45,933,000 | 47,185,000 | 48,346,000 | -100,378,000 | 49,056,000 | 55,577,000 | 50,039,000 | -104,721,000 | 55,979,000 | 52,029,000 | 52,740,000 | -113,771,179 | 56,944,000 | |
| EBITDA | $579.0K | $-12M | · | $-4M | $239.0K | $-6M | · | $5M | $2M | · | · | $7M | $66.0K | $-3M | · | $16M |
Balance Sheet 25
| 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 | $120M | $145M | $146M | $137M | $90M | $102M | $100M | $79M | $74M | $80M | · | $98M | $106M | $79M | · | $52M | |
| Receivables | $383M | $337M | $358M | $363M | $383M | $349M | $425M | $377M | $352M | $303M | · | $291M | $258M | $253M | · | $277M | |
| Prepaid Expense | $17M | $22M | $19M | $21M | $12M | $12M | $10M | $13M | $15M | $12M | · | $12M | $14M | $14M | · | $15M | |
| Current Assets | $538M | $504M | $523M | $520M | $513M | $505M | $576M | $530M | $532M | $489M | · | $474M | $443M | $440M | · | $458M | |
| PP&E (Net) | $59M | $50M | $53M | $51M | $52M | $54M | $59M | $63M | $60M | $57M | · | $62M | $66M | $69M | · | · | |
| PP&E (Gross) | $272M | $254M | $251M | $257M | $248M | $241M | $234M | $235M | $222M | $208M | · | $198M | $191M | $184M | · | · | |
| Accum. Depreciation | $213M | $204M | $198M | $206M | $197M | $187M | $176M | $172M | $162M | $151M | · | $136M | $125M | $115M | · | · | |
| Goodwill | $30M | $30M | $30M | $30M | $30M | $30M | $30M | $30M | $30M | $30M | · | $30M | $30M | $30M | · | $30M | |
| Intangibles | $2M | $2M | $3M | $3M | $3M | $4M | $4M | $5M | $5M | $5M | · | $6M | $7M | $7M | · | $9M | |
| Other Non-current Assets | $6M | $5M | $3M | $3M | $2M | $3M | $2M | $3M | $2M | $4M | · | $4M | $2M | $2M | · | $2M | |
| Total Assets | $700M | $659M | $680M | $676M | $675M | $669M | $740M | $689M | $673M | $626M | · | $613M | $584M | $577M | · | $602M | |
| Accounts Payable | $390M | $343M | $344M | $356M | $361M | $324M | $387M | $361M | $341M | $289M | · | $273M | $240M | $223M | · | $258M | |
| Accrued Liabilities | $24M | $19M | $25M | $26M | $21M | $20M | $26M | $26M | $23M | $20M | · | $25M | $23M | $19M | · | $15M | |
| Current Liabilities | $422M | $369M | $376M | $388M | $389M | $350M | $419M | $393M | $370M | $316M | · | $304M | $269M | $248M | · | $279M | |
| Capital Leases | $33M | $35M | $37M | $38M | $39M | $39M | $40M | $29M | $16M | $18M | · | $17M | $18M | $20M | · | $22M | |
| Deferred Tax | · | · | · | · | · | · | · | · | · | · | · | · | · | · | · | $3M | |
| Other Non-current Liabilities | $6M | $5M | $5M | $4M | $4M | $4M | $4M | $4M | $4M | $4M | · | $4M | $2M | $4M | · | $5M | |
| Total Liabilities | $461M | $408M | $418M | $431M | $432M | $393M | $462M | $426M | $390M | $337M | · | $324M | $289M | $271M | · | $310M | |
| Common Stock | $7.0K | $7.0K | $7.0K | $6.0K | $6.0K | $6.0K | $6.0K | $6.0K | $6.0K | $6.0K | · | $6.0K | $6.0K | $6.0K | · | $6.0K | |
| Paid-in Capital | $342M | $331M | $321M | $310M | $299M | $286M | $275M | $264M | $253M | $241M | · | $221M | $213M | $204M | · | $189M | |
| Retained Earnings | $121M | $122M | $135M | $128M | $135M | $140M | $149M | $135M | $136M | $134M | · | $118M | $116M | $122M | · | $115M | |
| Treasury Stock | $224M | $202M | $193M | $193M | $191M | $150M | $147M | $136M | $107M | $87M | · | $51M | $35M | $19M | · | $11M | |
| AOCI | $-156.0K | $-86.0K | $68.0K | $67.0K | $161.0K | $-366.0K | $-636.0K | $-29.0K | $-33.0K | $-25.0K | · | $-12.0K | $-32.0K | $8.0K | · | $-221.0K | |
| Stockholders' Equity | $239M | $251M | $263M | $245M | $243M | $276M | $277M | $263M | $283M | $289M | $296M | $289M | $295M | $306M | $312M | $293M | |
| Liabilities + Equity | $700M | $659M | $680M | $676M | $675M | $669M | $740M | $689M | $673M | $626M | · | $613M | $584M | $577M | · | $602M |
Cash Flow 13
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | · | $4M | $3M | $4M | $6M | $6M | $6M | $6M | $6M | $7M | $7M | $7M | $7M | $7M | $7M | $6M | |
| Deferred Tax | $280.0K | $-1M | $-3M | $-3M | $-4M | $-5M | $-153.0K | $-2M | $-4M | $-5M | $779.0K | $-630.0K | $-9M | $-4M | $-3M | $-2M | |
| Amort. of Intangibles | $400.0K | $400.0K | $400.0K | $400.0K | $400.0K | $400.0K | $400.0K | $400.0K | $400.0K | $400.0K | · | $400.0K | $400.0K | $1M | · | $100.0K | |
| Other Non-cash | · | $28M | · | · | · | $24M | · | · | · | · | · | · | · | $16M | · | · | |
| Operating Cash Flow | $20M | $17M | $18M | $32M | $15M | $16M | $18M | $19M | $12M | $24M | $29M | $24M | $16M | $13M | $19M | $28M | |
| CapEx | $3M | $11.0K | $7M | $5M | $1M | $1M | $4M | $12M | $736.0K | $801.0K | $5M | $3M | $1M | $1M | $9M | $15M | |
| Investing Cash Flow | $-24M | $-10M | $-11M | $18M | $10M | $-10M | $13M | $16M | $-2M | $-4M | $-31M | $-14M | $24M | $-18M | $20M | $-28M | |
| Stock Repurchased | $22M | $8M | $-1M | $4M | $39M | $5M | $10M | $30M | $18M | $18M | $18M | $18M | $16M | $8M | $0 | $0 | |
| Net Stock Activity | · | $-8M | · | · | · | $-5M | · | · | · | · | · | · | · | $-8M | · | · | |
| Financing Cash Flow | $-21M | $-8M | $2M | $-4M | $-37M | $-4M | $-9M | $-29M | $-17M | $-19M | $-17M | $-18M | $-14M | $-8M | $662.0K | $190.0K | |
| Net Change in Cash | · | · | · | · | · | · | · | $5M | $-7M | $2M | · | $-8M | $26M | $-13M | · | $283.0K | |
| Taxes Paid | $669.0K | $1M | $325.0K | $1M | $6M | $885.0K | · | $5M | $5M | $1M | · | $1M | $10M | $349.0K | $2M | $6M | |
| Free Cash Flow | · | $17M | · | · | · | $14M | · | · | · | · | · | · | · | $11M | · | · |
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 | 67.1% | 58.3% | · | 62.6% | 62.6% | 59.9% | · | 64.5% | 62.6% | · | · | 59.0% | 60.4% | 56.9% | · | 66.5% | |
| Operating Margin | 0.74% | -24.4% | · | -12.4% | -7.7% | -18.6% | · | -1.9% | -5.9% | · | · | -0.90% | -11.3% | -19.3% | · | 14.9% | |
| Net Margin | -1.5% | -20.0% | · | -9.5% | -7.3% | -14.9% | · | -1.3% | 2.9% | · | · | 2.8% | -9.0% | -10.6% | · | 5.2% | |
| Pretax Margin | 2.4% | -24.1% | · | -12.0% | -8.5% | -17.7% | · | -0.45% | 3.5% | · | · | 3.0% | -8.2% | -16.7% | · | 7.3% | |
| EBITDA Margin | 0.74% | -18.8% | · | -6.2% | 0.34% | -9.6% | · | 6.6% | 3.6% | · | · | 10.4% | 0.10% | -6.1% | · | 24.8% | |
| ROA | -0.17% | -1.9% | · | -0.95% | -0.77% | -1.5% | · | -0.14% | 0.31% | · | · | 0.29% | -0.99% | -1.1% | · | 0.64% | |
| ROE | -0.50% | -4.8% | · | -2.5% | -2.0% | -3.4% | · | -0.33% | 0.68% | · | · | 0.61% | -2.0% | -2.1% | · | 1.3% | |
| ROIC | -0.15% | -5.0% | · | -2.7% | -1.9% | -3.6% | · | -1.5% | -1.2% | · | · | -0.19% | -2.7% | -2.2% | · | 2.3% |
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 | 1.3 | 1.4 | · | 1.3 | 1.3 | 1.4 | · | 1.3 | 1.4 | · | · | 1.6 | 1.6 | 1.8 | · | 1.6 | |
| Quick Ratio | 1.2 | 1.3 | · | 1.3 | 1.2 | 1.3 | · | 1.2 | 1.1 | · | · | 1.3 | 1.4 | 1.3 | · | 1.2 |
Efficiency 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | 0.1 | · | · | 0.1 | 0.1 | 0.1 | · | 0.1 | |
| Receivables Turnover | 0.2 | 0.2 | · | 0.2 | 0.2 | 0.2 | · | 0.2 | 0.2 | · | · | 0.2 | 0.2 | 0.2 | · | 0.3 |
Valuation (TTM) 4
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $280M | $265M | · | $275M | $274M | $270M | · | $269M | $261M | $249M | · | $247M | $246M | $237M | · | $240M | |
| Net Income TTM | $-25M | $-34M | · | $-22M | $-14M | $-11M | · | $379.0K | $-4M | $-12M | · | $-6M | $-450.0K | $10M | · | $29M | |
| P/E | -23.9 | -11.4 | · | -17.6 | -42.9 | -39.7 | · | 114.4 | 112.8 | 790.7 | · | -93.1 | -914.0 | 81.3 | · | 32.0 | |
| Earnings Yield | -4.2% | -8.8% | · | -5.7% | -2.3% | -2.5% | · | 0.87% | 0.89% | 0.13% | · | -1.1% | -0.11% | 1.2% | · | 3.1% |
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 | $283M | $291M | $267M | $256M | $227M |
| Gross Margin % | 63.6% | 65.3% | 62.8% | 68.2% | 74.3% |
| Operating Margin % | -6.1% | 1.4% | 0.76% | 15.8% | 25.9% |
| Net Income | $-14M | $13M | $9M | $29M | $57M |
| Diluted EPS | $-0.31 | $0.23 | $0.16 | $0.50 | $1.00 |
Balance Sheet
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Current Ratio | 1.4 | 1.4 | 1.5 | 1.7 | 1.7 |
| Quick Ratio | 1.3 | 1.3 | 1.2 | 1.3 | 1.4 |
Cash Flow
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Free Cash Flow | $67M | $56M | $71M | $51M | $58M |
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Institutional owners (13F) 177 filers · $277.4M 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 |
|---|---|---|---|---|
| 28 (-3 vs prior Q) | 17 (-12 vs prior Q) | 54 (-4 vs prior Q) | 47 (+6 vs prior Q) | +3.5M |
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 |
|---|---|---|---|---|
| VANGUARD CAPITAL MANAGEMENT LLC | $21,796,413 | 1,661,312 | 7.86% | Shares |
| RENAISSANCE TECHNOLOGIES LLC | $18,644,163 | 1,421,049 | 6.72% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $18,416,951 | 1,403,731 | 6.64% | Shares |
| Whitefort Capital Management, LP | $14,571,807 | 1,110,656 | 5.25% | Shares |
| Walleye Trading LLC | $14,300,800 | 1,090,000 | 5.16% | Call option |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $12,431,830 | 947,548 | 4.48% | Shares |
| JACOBS LEVY EQUITY MANAGEMENT, INC | $11,322,508 | 862,996 | 4.08% | Shares |
| STATE STREET CORP | $11,206,409 | 854,147 | 4.04% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $11,188,454 | 852,546 | 4.03% | Shares |
| S SQUARED TECHNOLOGY, LLC | $9,815,059 | 748,099 | 3.54% | Shares |
| Simcoe Capital LLC | $9,104,007 | 693,903 | 3.28% | Shares |
| HIGHBRIDGE CAPITAL MANAGEMENT LLC | $8,424,831 | 644,593 | 3.04% | Shares |
| AMERICAN CENTURY COMPANIES INC | $8,424,037 | 642,076 | 3.04% | Shares |
| TWO SIGMA INVESTMENTS, LP | $8,371,898 | 638,102 | 3.02% | Shares |
| CenterBook Partners LP | $5,431,457 | 413,983 | 1.96% | Shares |
| CITADEL ADVISORS LLC | $5,194,431 | 395,917 | 1.87% | Shares |
| Trexquant Investment LP | $5,018,728 | 382,525 | 1.81% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $3,983,547 | 303,624 | 1.44% | Shares |
| PANAGORA ASSET MANAGEMENT INC | $3,775,083 | 287,735 | 1.36% | Shares |
| AQR CAPITAL MANAGEMENT LLC | $3,684,463 | 280,828 | 1.33% | Shares |
| Quantinno Capital Management LP | $3,275,907 | 249,688 | 1.18% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $3,157,682 | 240,677 | 1.14% | Shares |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | $2,565,787 | 195,563 | 0.93% | Shares |
| UBS Group AG | $2,440,753 | 186,033 | 0.88% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $2,393,705 | 182,447 | 0.86% | Shares |
| BOOTHBAY FUND MANAGEMENT, LLC | $2,382,789 | 181,615 | 0.86% | Shares |
| BRIDGEWAY CAPITAL MANAGEMENT, LLC | $2,299,936 | 175,300 | 0.83% | Shares |
| BANK OF AMERICA CORP /DE/ | $2,282,303 | 173,956 | 0.82% | Shares |
| VANGUARD GROUP INC | $2,046,344 | 230,704 | 0.74% | Shares |
| Diversified Investment Strategies, LLC | $1,836,800 | 140,000 | 0.66% | Shares |
| CITADEL ADVISORS LLC | $1,801,376 | 137,300 | 0.65% | Put option |
| AMERIPRISE FINANCIAL INC | $1,758,094 | 134,001 | 0.63% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $1,687,232 | 128,600 | 0.61% | Put option |
| TWO SIGMA ADVISERS, LP | $1,619,662 | 182,600 | 0.58% | Shares |
| Walleye Trading LLC | $1,498,304 | 114,200 | 0.54% | Put option |
| MORGAN STANLEY | $1,330,158 | 101,384 | 0.48% | Shares |
| ZB,N.A. | $1,282,995 | 87,338 | 0.46% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $1,263,456 | 96,300 | 0.46% | Call option |
| DEUTSCHE BANK AG\ | $1,229,554 | 93,716 | 0.44% | Shares |
| CITADEL ADVISORS LLC | $1,221,472 | 93,100 | 0.44% | Call option |
| Caption Management, LLC | $1,180,800 | 90,000 | 0.43% | Put option |
| MILLENNIUM MANAGEMENT LLC | $1,129,094 | 86,059 | 0.41% | Shares |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. | $1,125,762 | 85,805 | 0.41% | Shares |
| VICTORY CAPITAL MANAGEMENT INC | $1,113,350 | 84,859 | 0.40% | Shares |
| GOLDMAN SACHS GROUP INC | $1,108,351 | 84,478 | 0.40% | Shares |
| Point72 Asset Management, L.P. | $1,041,229 | 79,362 | 0.38% | Shares |
| BlackRock, Inc. | $959,164 | 73,107 | 0.35% | Shares |
| GROUP ONE TRADING LLC | $949,954 | 72,405 | 0.34% | Shares |
| JANE STREET GROUP, LLC | $896,975 | 68,367 | 0.32% | Shares |
| PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO | $871,509 | 66,426 | 0.31% | Shares |
| Walleye Capital LLC | $831,047 | 63,342 | 0.30% | Shares |
| Squarepoint Ops LLC | $815,237 | 62,137 | 0.29% | Shares |
| SIMPLEX TRADING, LLC | $774,749 | 59,051 | 0.28% | Shares |
| CANADA PENSION PLAN INVESTMENT BOARD | $767,520 | 58,500 | 0.28% | Shares |
| BARCLAYS PLC | $761,602 | 58,049 | 0.27% | Shares |
| HSBC HOLDINGS PLC | $748,573 | 57,318 | 0.27% | Shares |
| Avestar Capital, LLC | $721,600 | 55,000 | 0.26% | Shares |
| VOYA INVESTMENT MANAGEMENT LLC | $696,475 | 53,085 | 0.25% | Shares |
| Bank of New York Mellon Corp | $670,209 | 51,083 | 0.24% | Shares |
| IMC-Chicago, LLC | $657,063 | 50,081 | 0.24% | Shares |
| RHUMBLINE ADVISERS | $650,271 | 49,564 | 0.23% | Shares |
| State of Wyoming | $595,714 | 45,405 | 0.21% | Shares |
| D. E. Shaw & Co., Inc. | $581,478 | 44,320 | 0.21% | Shares |
| STRS OHIO | $498,560 | 38,000 | 0.18% | Shares |
| FULLER & THALER ASSET MANAGEMENT, INC. | $478,106 | 36,441 | 0.17% | Shares |
| XTX Topco Ltd | $439,533 | 33,501 | 0.16% | Shares |
| WELLS FARGO & COMPANY/MN | $429,208 | 32,714 | 0.15% | Shares |
| AlphaQuest LLC | $423,232 | 47,715 | 0.15% | Shares |
| LOS ANGELES CAPITAL MANAGEMENT LLC | $370,876 | 28,268 | 0.13% | Shares |
| JPMORGAN CHASE & CO | $358,693 | 27,444 | 0.13% | Shares |
| WOLVERINE TRADING, LLC | $351,505 | 41,500 | 0.13% | Put option |
| Nebula Research & Development LLC | $349,614 | 28,104 | 0.13% | Shares |
| Allworth Financial LP | $337,434 | 25,719 | 0.12% | Shares |
| MetLife Investment Management, LLC | $321,492 | 24,504 | 0.12% | Shares |
| MERCER GLOBAL ADVISORS INC /ADV | $319,879 | 24,381 | 0.12% | Shares |
| Cambria Investment Management, L.P. | $299,503 | 22,828 | 0.11% | Shares |
| Cornerstone Investment Partners, LLC | $296,906 | 22,630 | 0.11% | Shares |
| ALLIANCEBERNSTEIN L.P. | $296,116 | 36,200 | 0.11% | Shares |
| GWN SECURITIES INC. | $290,205 | 22,119 | 0.10% | Shares |
| Sterling Capital Management LLC | $281,516 | 21,457 | 0.10% | Shares |
| Caption Management, LLC | $274,864 | 20,950 | 0.10% | Shares |
| MEEDER ASSET MANAGEMENT INC | $254,738 | 19,416 | 0.09% | Shares |
| IEQ CAPITAL, LLC | $248,139 | 18,913 | 0.09% | Shares |
| Focus Partners Wealth | $233,930 | 17,830 | 0.08% | Shares |
| WOLVERINE TRADING, LLC | $231,460 | 27,327 | 0.08% | Shares |
| DIVERSIFIED TRUST CO | $230,439 | 17,564 | 0.08% | Shares |
| Balyasny Asset Management L.P. | $228,498 | 17,416 | 0.08% | Shares |
| WINTON GROUP Ltd | $221,728 | 16,900 | 0.08% | Shares |
| JANE STREET GROUP, LLC | $211,232 | 16,100 | 0.08% | Call option |
| Grantham, Mayo, Van Otterloo & Co. LLC | $209,579 | 15,974 | 0.08% | Shares |
| Invesco Ltd. | $204,488 | 15,586 | 0.07% | Shares |
| Mariner, LLC | $198,231 | 15,109 | 0.07% | Shares |
| Jasper Ridge Partners, L.P. | $197,220 | 15,032 | 0.07% | Shares |
| WEALTH ENHANCEMENT ADVISORY SERVICES, LLC | $197,083 | 14,545 | 0.07% | Shares |
| Walleye Capital LLC | $188,928 | 14,400 | 0.07% | Put option |
| OCCUDO QUANTITATIVE STRATEGIES LP | $175,428 | 13,371 | 0.06% | Shares |
| Police & Firemen's Retirement System of New Jersey | $163,449 | 12,458 | 0.06% | Shares |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM | $163,082 | 12,430 | 0.06% | Shares |
| Russell Investments Group, Ltd. | $158,699 | 12,096 | 0.06% | Shares |
| Cetera Investment Advisers | $158,214 | 12,059 | 0.06% | Shares |
Company insiders 24 insiders · 6 officers · 11 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Mukul Kumar | PRESIDENT, ENGINEERING | Aug. 17, 2026 C | 112,945 | 0 | 4 | $-449,254 |
| Lisa Gimbel | CHIEF ACCOUNTING OFFICER | Aug. 15, 2026 M | 16,927 | 0 | 2 | $-32,538 |
| Paulina Klimenko | CHIEF GROWTH OFFICER | July 1, 2026 M | 71,044 | 0 | 2 | $-324,477 |
| Amar K. Goel | CHAIRMAN, CHIEF INNOVATION OFF | July 1, 2026 M | 35,580 | 0 | 1 | $-89,872 |
| Michael Van Der Zweep | Controller | June 1, 2023 S | 1,696 | 0 | 0 | $0 |
| Thomas C. Chow | General Counsel and Secretary | July 5, 2022 S | 4,910 | 0 | 0 | $0 |
| Ramon Jones | Director | May 29, 2026 A | — | 0 | 0 | $0 |
| Anton Hanebrink | Director | May 29, 2026 A | — | 0 | 0 | $0 |
| Shelagh Glaser | Director | May 29, 2026 A | 21,502 | 0 | 0 | $0 |
| Susan Daimler | Director | May 29, 2026 A | — | 0 | 0 | $0 |
| Nikhil Ramesh Mehta | Director | May 29, 2026 A | — | 0 | 0 | $0 |
| Yakov (Jacob) Shulman | Director | May 29, 2026 A | 18,036 | 0 | 0 | $0 |
| Eric W Carlborg | Director | May 31, 2023 M | 281,833 | 0 | 0 | $0 |
| Cathleen Black | Director | May 31, 2023 M | 13,014 | 0 | 0 | $0 |
| Narendra Gupta | Director | Dec. 1, 2021 J | 0 | 0 | 0 | $0 |
| Ashish Gupta | Director | Dec. 11, 2020 C | 0 | 0 | 0 | $0 |
| Helion Venture Partners LLC | 10% owner | Nov. 29, 2021 C | 0 | 0 | 0 | $0 |
| Howard Hartenbaum | 10% owner | Nov. 10, 2021 S | 20,000 | 0 | 0 | $0 |
| NEXUS INDIA CAPITAL I L P | 10% owner | Aug. 12, 2021 J | 0 | 0 | 0 | $0 |
| CNH Capital Co Ltd | 10% owner | May 21, 2021 P | 738,000 | 0 | 0 | $0 |
| Steven Pantelick | — | Aug. 13, 2026 S | 10,353 | 0 | 4 | $-1,214,110 |
| Andrew Woods | — | Aug. 10, 2026 S | 39,761 | 0 | 3 | $-812,400 |
| Rajeev K. Goel | — | Aug. 7, 2026 C | 31,692 | 0 | 9 | $-6,576,928 |
| Jeffrey K. Hirsch | — | April 1, 2023 M | 13,784 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
ETF ownership Held by 36 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 |
|---|---|---|---|---|
| CLOU · Global X Funds | 0.31% | 71,911 NS | May 31, 2026 | N-PORT |
| PRFZ · Invesco Exchange-Traded Fund Trust | 0.05% | 78,241 SH | Aug. 8, 2026 | Daily |
| IWN · iShares Trust | 0.03% | 364,456 SH | Aug. 8, 2026 | Daily |
| VTWV · VANGUARD SCOTTSDALE FUNDS | 0.03% | 34,019 SH | Aug. 8, 2026 | Daily |
| VOX · VANGUARD WORLD FUND | 0.03% | 130,224 SH | Aug. 8, 2026 | Daily |
| AVSC · AMERICAN CENTURY ETF TRUST | 0.03% | 68,412 NS | May 31, 2026 | N-PORT |
| TMFX · RBB Fund, Inc. | 0.03% | 741 NS | May 31, 2026 | N-PORT |
| OMFS · Invesco Exchange-Traded Self-Indexe… | 0.03% | 4,313 SH | Aug. 8, 2026 | Daily |
| VTWO · VANGUARD SCOTTSDALE FUNDS | 0.02% | 224,374 SH | Aug. 8, 2026 | Daily |
| IWM · iShares Trust | 0.02% | 1,014,628 SH | Aug. 8, 2026 | Daily |
| DFSV · Dimensional ETF Trust | 0.02% | 126,008 NS | April 30, 2026 | N-PORT |
| AVUV · AMERICAN CENTURY ETF TRUST | 0.01% | 343,971 NS | May 31, 2026 | N-PORT |
| DFAT · Dimensional ETF Trust | 0.01% | 189,304 NS | April 30, 2026 | N-PORT |
| RSSL · Global X Funds | 0.01% | 16,490 NS | April 30, 2026 | N-PORT |
| ITWO · ProShares Trust | 0.01% | 1,805 NS | May 31, 2026 | N-PORT |
| VXF · VANGUARD INDEX FUNDS | 0.01% | 415,566 SH | Aug. 8, 2026 | Daily |
| DFAS · Dimensional ETF Trust | 0.01% | 127,424 NS | April 30, 2026 | N-PORT |
| SCHA · SCHWAB STRATEGIC TRUST | 0.01% | 168,732 NS | May 31, 2026 | N-PORT |
| UWM · ProShares Trust | 0.01% | 1,411 NS | May 31, 2026 | N-PORT |
| URTY · ProShares Trust | 0.00% | 1,428 NS | May 31, 2026 | N-PORT |
| DXUV · Dimensional ETF Trust | 0.00% | 1,394 NS | April 30, 2026 | N-PORT |
| AVSU · AMERICAN CENTURY ETF TRUST | 0.00% | 1,016 NS | May 31, 2026 | N-PORT |
| MSSM · MORGAN STANLEY PATHWAY FUNDS | 0.00% | 1,511 NS | May 31, 2026 | N-PORT |
| HDG · ProShares Trust | 0.00% | 36 NS | May 31, 2026 | N-PORT |
| DFSU · Dimensional ETF Trust | 0.00% | 3,711 NS | April 30, 2026 | N-PORT |
| DFAC · Dimensional ETF Trust | 0.00% | 76,441 NS | April 30, 2026 | N-PORT |
| AVUS · AMERICAN CENTURY ETF TRUST | 0.00% | 18,132 NS | May 31, 2026 | N-PORT |
| DCOR · Dimensional ETF Trust | 0.00% | 2,603 NS | April 30, 2026 | N-PORT |
| ITOT · iShares Trust | 0.00% | 58,221 SH | Aug. 8, 2026 | Daily |
| IWV · iShares Trust | 0.00% | 11,540 SH | Aug. 8, 2026 | Daily |
| EBI · RBB Fund Trust | 0.00% | 466 NS | May 31, 2026 | N-PORT |
| SCHB · SCHWAB STRATEGIC TRUST | 0.00% | 24,127 NS | May 31, 2026 | N-PORT |
| DFUS · Dimensional ETF Trust | 0.00% | 6,151 NS | April 30, 2026 | N-PORT |
| VTI · VANGUARD INDEX FUNDS | 0.00% | 1,207,349 SH | Aug. 8, 2026 | Daily |
| VTHR · VANGUARD SCOTTSDALE FUNDS | 0.00% | 3,169 SH | Aug. 8, 2026 | Daily |
| DFUV · Dimensional ETF Trust | 0.00% | 177 NS | April 30, 2026 | N-PORT |