QDEL QuidelOrtho Corporation - Common Stock
$14.01
Price · Aug 19, 2026
Fundamentals as of Aug 7, 2026
52W Range
$10–$36
16% of range
Analyst Rating
HOLD
8 analysts
Price Target
$12
P/E (TTM)
-0.8
ROE
-48.0%
Net Profit Margin
-41.4%
QDEL Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$14.01
Market Cap
$951M
P/E (TTM)
-0.8
EPS (TTM)
$-16.69
Revenue (TTM)
$2.73B
Div Yield
—
ROE
-48.0%
Debt/Equity
0.1
52W Range
$10 – $36
QDEL 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
$2.73B
2021-01-03
→
2025-12-28
EPS
$-16.69
2021-01-03
→
2025-12-28
Free Cash Flow
$-83M
2023-01-01
→
2025-12-28
Margins
-41.4%
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Metric
5Y trend
QDEL
Peer Median
P/E (TTM)
-0.8
39.4
P/S (TTM)
0.3
2.1
P/B
0.5
3.3
EV / EBITDA
-2.0
—
Price / FCF
-11.5
—
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Metric
5Y trend
QDEL
Peer Median
Operating Margin
-33.7%
—
Net Profit Margin
-41.4%
-11.8%
ROA
-18.6%
-6.3%
ROE
-48.0%
-13.4%
ROIC
-44.8%
—
Financial Health Debt, liquidity, solvency — balance sheet strength
Metric
5Y trend
QDEL
Peer Median
Debt / Equity
0.1
37.4
Current Ratio
1.5
2.4
Quick Ratio
0.6
—
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Metric
5Y trend
QDEL
Peer Median
Revenue YoY
-1.9%
—
Revenue CAGR 3Y
-5.8%
—
Revenue CAGR 5Y
10.4%
—
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
Metric
5Y trend
QDEL
Peer Median
QDEL Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
SELL
8 analysts
- Strong Buy 0 0.0%
- Buy 1 12.5%
- Hold 3 37.5%
- Sell 2 25.0%
- Strong Sell 2 25.0%
12-Month Price Target
2 analysts · 2026-08-13
Low
$12.00
High
$12.00
Median target
$12.00
-14.3%
Mean target
$12.00
-14.3%
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
0.06%
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| June 30, 2026 | $0.13 | $-0.05 | 0.18% |
| March 31, 2026 | $-0.04 | $0.40 | -0.44% |
| Dec. 31, 2025 | $0.46 | $0.43 | 0.03% |
| Sept. 30, 2025 | $0.80 | $0.47 | 0.33% |
| June 30, 2025 | $0.12 | $0.02 | 0.10% |
| March 31, 2025 | $0.74 | $0.60 | 0.14% |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| QDEL | $1.99B | -1.8 | -1.9% | -41.4% | -48.0% | — |
| LNTH | $4.30B | 19.5 | 0.50% | 15.2% | 20.7% | 61.1% |
| MMED | $3.71B | -10.2 | 14.2% | -10.7% | -9.3% | 54.2% |
| MMSI | $5.24B | 41.4 | 11.8% | 8.5% | 8.4% | 48.7% |
| ICUI | $3.52B | 4755.7 | -6.3% | 0.03% | 0.03% | 36.8% |
| HAE | $2.45B | 26.4 | -2.0% | 7.3% | 11.8% | 59.0% |
| XRAY | $2.28B | -3.8 | -3.0% | -16.2% | -36.4% | 50.0% |
| NEOG | $1.95B | -224.2 | -2.7% | -0.91% | -0.38% | 46.9% |
| UFPT | $1.71B | 25.4 | 19.5% | 11.3% | 16.9% | 28.3% |
| STAA | $1.17B | -14.6 | -23.7% | -33.6% | -23.6% | 76.2% |
| BVS | — | 22.5 | -0.91% | 4.0% | 13.7% | 68.3% |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement 13
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Revenue | $2.73B | $2.78B | $3.00B | $3.27B | $1.70B | $1.66B | |
| R&D Expense | $186M | $219M | $245M | $188M | $96M | $84M | |
| SG&A Expense | $746M | $767M | $763M | $621M | $240M | $181M | |
| Operating Income | $-919M | $-1.96B | $139M | $844M | $906M | $1.06B | |
| Other Non-op | $-6M | $-7M | $-21M | $-8M | $100.0K | $-1M | |
| Pretax Income | $-1.11B | $-2.13B | $-29M | $736M | $900M | $1.04B | |
| Income Tax | $24M | $-80M | $-19M | $187M | $196M | $230M | |
| Net Income | $-1.13B | $-2.05B | $-10M | $549M | $704M | $810M | |
| EPS (Basic) | $-16.69 | $-30.54 | $-0.15 | $9.66 | $16.74 | $19.24 | |
| EPS (Diluted) | $-16.69 | $-30.54 | $-0.15 | $9.56 | $16.43 | $18.60 | |
| Shares (Basic) | 67,800,000 | 67,200,000 | 66,800,000 | 56,800,000 | 42,100,000 | 42,100,000 | |
| Shares (Diluted) | 67,800,000 | 67,200,000 | 66,800,000 | 57,400,000 | 42,900,000 | 43,600,000 | |
| EBITDA | $-477M | $-1.51B | $596M | $1.13B | · | · |
Balance Sheet 29
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $170M | $98M | $119M | $293M | $803M | · | |
| Short-term Investments | · | $0 | $48M | $52M | $26M | · | |
| Receivables | $417M | $282M | $303M | $454M | $378M | · | |
| Inventory | $578M | $534M | $578M | $524M | $199M | · | |
| Prepaid Expense | $250M | $262M | $262M | $252M | $35M | · | |
| Other Current Assets | $700.0K | $5M | $3M | $900.0K | $4M | · | |
| Current Assets | $1.45B | $1.22B | $1.31B | $1.58B | $1.44B | · | |
| PP&E (Net) | · | · | $1.44B | $1.34B | $349M | · | |
| PP&E (Gross) | · | · | $1.96B | $1.62B | $489M | · | |
| Accum. Depreciation | $945M | $726M | $521M | $278M | $140M | · | |
| Goodwill | $0 | $650M | $2.49B | $2.48B | $337M | · | |
| Intangibles | $2.56B | $2.74B | $2.93B | $3.12B | $99M | · | |
| Other Non-current Assets | $244M | $271M | $180M | $123M | $20M | · | |
| Total Assets | $5.77B | $6.42B | $8.56B | $8.86B | $2.43B | · | |
| Accounts Payable | $279M | $246M | $295M | $283M | $102M | · | |
| Current Liabilities | $966M | $999M | $834M | $1.01B | $324M | · | |
| Capital Leases | $154M | $167M | $173M | $186M | $129M | · | |
| Deferred Tax | $90M | $76M | $192M | $213M | $0 | · | |
| Other Non-current Liabilities | $166M | $55M | $84M | $84M | $48M | · | |
| Total Liabilities | $3.85B | $3.44B | $3.56B | $3.92B | $501M | · | |
| Long-term Debt | $2.70B | $2.49B | $2.42B | $2.65B | · | · | |
| Total Debt | $178M | $342M | · | $208M | · | · | |
| Common Stock | $100.0K | $100.0K | $100.0K | $0 | $0 | · | |
| Paid-in Capital | $2.93B | $2.88B | $2.85B | $2.80B | $280M | · | |
| Retained Earnings | $-996M | $136M | $2.19B | $2.20B | $1.65B | · | |
| AOCI | $-15M | $-36M | $-30M | $-68M | $400.0K | · | |
| Stockholders' Equity | $1.92B | $2.98B | $5.01B | $4.93B | $1.93B | $1.33B | |
| Liabilities + Equity | $5.77B | $6.42B | $8.56B | $8.86B | $2.43B | · | |
| Shares Outstanding | 67,900,000 | 67,300,000 | 66,700,000 | 66,400,000 | 41,700,000 | · |
Cash Flow 16
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| D&A | $442M | $453M | $457M | $284M | $53M | $49M | |
| Stock-based Comp | $46M | $42M | $52M | $48M | $25M | $21M | |
| Deferred Tax | $100.0K | $-105M | $-4M | $-41M | $3M | $-4M | |
| Amort. of Intangibles | $189M | $203M | $205M | $132M | $27M | $27M | |
| Other Non-cash | $749M | $1.74B | $-214M | $46M | · | · | |
| Operating Cash Flow | $105M | $83M | $280M | $885M | $806M | $630M | |
| CapEx | $188M | $195M | $209M | $141M | $293M | $65M | |
| Investing Cash Flow | $-193M | $-150M | $-188M | $-1.64B | $-320M | $-63M | |
| Net Debt Issued | $-2.29B | · | · | · | · | · | |
| Stock Issued | $6M | $5M | $12M | $26M | $8M | $10M | |
| Stock Repurchased | $0 | $0 | $7M | $74M | $104M | $44M | |
| Net Stock Activity | $6M | $5M | $4M | $-48M | · | · | |
| Financing Cash Flow | $156M | $49M | $-266M | $252M | $-173M | $-130M | |
| Net Change in Cash | $71M | $-21M | $-174M | $-509M | $313M | $437M | |
| Taxes Paid | $-25M | · | · | · | · | · | |
| Free Cash Flow | $-83M | $-112M | $71M | $744M | · | · |
Profitability 7
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Operating Margin | -33.7% | -70.5% | 4.6% | 25.8% | · | · | |
| Net Margin | -41.4% | -73.7% | -0.34% | 16.8% | · | · | |
| Pretax Margin | -40.6% | -76.6% | -0.97% | 22.5% | · | · | |
| EBITDA Margin | -17.5% | -54.2% | 19.9% | 34.5% | · | · | |
| ROA | -18.6% | -27.4% | · | 9.7% | · | · | |
| ROE | -48.0% | -66.5% | · | 11.3% | · | · | |
| ROIC | -44.8% | -56.8% | · | 12.2% | · | · |
Liquidity & Solvency 3
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Current Ratio | 1.5 | 1.2 | · | 1.6 | · | · | |
| Quick Ratio | 0.6 | 0.4 | · | 0.8 | · | · | |
| Debt / Equity | 0.1 | 0.1 | · | 0.0 | · | · |
Efficiency 2
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.4 | 0.4 | · | 0.6 | · | · | |
| Receivables Turnover | 7.8 | 9.5 | · | 7.9 | · | · |
Growth Rates 5
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Revenue YoY | -1.9% | -7.2% | -8.2% | 92.3% | 2.2% | · | |
| Revenue CAGR 3Y | -5.8% | 17.9% | 21.7% | · | · | · | |
| Revenue CAGR 5Y | 10.4% | · | · | · | · | · | |
| EPS YoY | · | · | · | -41.8% | -11.7% | · | |
| Net Income YoY | · | · | · | -22.1% | -13.1% | · |
Valuation (TTM) 13
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Revenue TTM | $2.73B | $2.78B | $3.00B | $3.27B | · | · | |
| Net Income TTM | $-1.13B | $-2.05B | $-10M | $549M | · | · | |
| Market Cap | $1.99B | $2.98B | · | $5.69B | · | · | |
| Enterprise Value | $2.00B | $3.22B | · | $5.55B | · | · | |
| P/E | -1.8 | -1.4 | -491.3 | 9.0 | · | · | |
| P/S | 0.7 | 1.1 | · | 1.7 | · | · | |
| P/B | 1.0 | 1.0 | · | 1.2 | · | · | |
| P / Cash Flow | 18.9 | 35.9 | · | 6.4 | · | · | |
| P / FCF | -24.0 | -26.6 | · | 7.6 | · | · | |
| EV / EBITDA | -4.2 | -2.1 | · | 4.9 | · | · | |
| EV / FCF | -24.1 | -28.7 | · | 7.5 | · | · | |
| EV / Revenue | 0.7 | 1.2 | · | 1.7 | · | · | |
| Earnings Yield | -57.0% | -69.0% | -0.20% | 11.2% | · | · |
Income Statement 13
| Metric | Trend | Q2 2027 | Q1 2027 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q4 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $631M | $620M | $724M | $700M | $614M | $693M | $708M | $727M | $637M | $711M | $743M | $665M | $846M | $866M | |
| R&D Expense | $49M | $45M | $46M | $42M | $46M | $53M | $47M | $56M | $56M | $59M | $59M | $62M | $62M | $62M | |
| SG&A Expense | $190M | $199M | $194M | $187M | $178M | $187M | $188M | $186M | $188M | $205M | $188M | $179M | $202M | $214M | |
| Operating Income | $-22M | $-32M | $-66M | $-705M | $-181M | $33M | $-100M | $15M | $-118M | $-1.76B | $40M | $-27M | $100M | $86M | |
| Other Non-op | $-5M | $3M | $5M | $-900.0K | $-8M | $-1M | $100.0K | $-900.0K | $-4M | $-2M | $-13M | $-1M | $-3M | $-11M | |
| Pretax Income | $-81M | $-80M | $-112M | $-757M | $-230M | $-9M | $-141M | $-29M | $-163M | $-1.80B | $-9M | $-64M | $60M | $41M | |
| Income Tax | $12M | $12M | $18M | $-24M | $26M | $4M | $38M | $-9M | $-15M | $-93M | $-16M | $-11M | $11M | $11M | |
| Net Income | $-93M | $-92M | $-131M | $-733M | $-255M | $-13M | $-178M | $-20M | $-148M | $-1.71B | $-486M | $-53M | $49M | $-129M | |
| EPS (Basic) | $-1.36 | $-1.35 | $-1.95 | $-10.78 | $-3.77 | $-0.19 | $-2.54 | $-0.30 | $-2.20 | $-25.50 | $0.11 | $-0.80 | $0.73 | $-0.01 | |
| EPS (Diluted) | $-1.36 | $-1.35 | $-1.95 | $-10.78 | $-3.77 | $-0.19 | $-2.54 | $-0.30 | $-2.20 | $-25.50 | $0.11 | $-0.80 | $0.73 | $0.00 | |
| Shares (Basic) | 68,300,000 | 68,200,000 | -135,400,000 | 68,000,000 | 67,700,000 | 67,500,000 | -134,100,000 | 67,300,000 | 67,100,000 | 66,900,000 | 0 | 66,800,000 | 66,600,000 | 3,200,000 | |
| Shares (Diluted) | 68,300,000 | 68,200,000 | -135,400,000 | 68,000,000 | 67,700,000 | 67,500,000 | -134,100,000 | 67,300,000 | 67,100,000 | 66,900,000 | 0 | 66,800,000 | 67,100,000 | 3,200,000 | |
| EBITDA | $95M | $81M | · | $-593M | $-70M | $140M | · | $128M | $-1M | $-1.64B | · | $88M | $214M | · |
Balance Sheet 28
| Metric | Trend | Q2 2027 | Q1 2027 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q4 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $123M | $140M | $170M | $98M | $152M | $127M | $98M | $144M | $107M | $78M | · | $179M | $354M | · | |
| Short-term Investments | · | · | · | · | · | · | · | $0 | $0 | $0 | · | $45M | $43M | · | |
| Receivables | $352M | $360M | $417M | $386M | $275M | $286M | $282M | $295M | $270M | $272M | · | $247M | $275M | · | |
| Inventory | $619M | $612M | $578M | $614M | $579M | $563M | $534M | $577M | $602M | $583M | · | $542M | $529M | · | |
| Prepaid Expense | $250M | $233M | $250M | $236M | $234M | $240M | $262M | $344M | $310M | $279M | · | $296M | $299M | · | |
| Other Current Assets | $500.0K | $500.0K | $28M | $30M | $31M | $1M | $5M | $3M | $3M | $3M | · | $3M | $800.0K | · | |
| Current Assets | $1.38B | $1.38B | $1.45B | $1.37B | $1.28B | $1.26B | $1.22B | $1.41B | $1.34B | $1.21B | · | $1.31B | $1.50B | · | |
| PP&E (Net) | · | · | · | · | · | · | · | $1.36B | $1.33B | $1.44B | · | $1.38B | $1.36B | · | |
| Accum. Depreciation | $1.07B | $1.00B | · | $879M | $826M | $785M | · | · | · | · | · | · | · | · | |
| Goodwill | · | · | $0 | $0 | $711M | $671M | $650M | $771M | $732M | $735M | $2.49B | $2.47B | $2.49B | $2.48B | |
| Intangibles | $2.68B | $2.52B | $2.56B | $2.61B | $2.66B | $2.70B | $2.74B | $2.80B | $2.84B | $2.89B | · | $3.04B | $3.08B | · | |
| Other Non-current Assets | $166M | $234M | $244M | $220M | $254M | $270M | $271M | $257M | $251M | $222M | · | $141M | $127M | · | |
| Total Assets | $5.72B | $5.63B | $5.77B | $5.68B | $6.38B | $6.46B | $6.42B | $6.80B | $6.69B | $6.70B | · | $8.55B | $8.79B | · | |
| Accounts Payable | $236M | $244M | $279M | $214M | $219M | $231M | $246M | $247M | $237M | $250M | · | $226M | $242M | · | |
| Current Liabilities | $993M | $962M | $966M | $768M | $1.14B | $1.05B | $999M | $1.03B | $932M | $780M | · | $790M | $908M | · | |
| Capital Leases | $152M | $155M | $154M | $156M | $156M | $163M | $167M | $174M | $178M | $182M | · | $181M | $183M | · | |
| Deferred Tax | $122M | $87M | $90M | $80M | $83M | $78M | $76M | $117M | $128M | $126M | · | $200M | $209M | · | |
| Other Non-current Liabilities | $137M | $112M | $166M | $139M | $133M | $70M | $55M | $119M | $70M | $67M | · | $68M | $111M | · | |
| Total Liabilities | $3.94B | $3.78B | $3.85B | $3.64B | $3.59B | $3.46B | $3.44B | $3.61B | $3.52B | $3.40B | · | $3.55B | $3.79B | · | |
| Long-term Debt | · | · | $2.70B | · | · | · | · | · | · | · | · | · | · | · | |
| Total Debt | $356M | $228M | · | $162M | $534M | $394M | · | $374M | $356M | $161M | · | · | · | · | |
| Common Stock | $100.0K | $100.0K | $100.0K | $100.0K | $100.0K | $100.0K | $100.0K | $100.0K | $100.0K | $100.0K | · | $100.0K | $100.0K | · | |
| Paid-in Capital | $2.95B | $2.94B | $2.93B | $2.92B | $2.91B | $2.90B | $2.88B | $2.88B | $2.86B | $2.85B | · | $2.83B | $2.81B | · | |
| Retained Earnings | $-1.18B | $-1.09B | $-996M | $-865M | $-132M | $123M | $136M | $314M | $334M | $482M | · | $2.19B | $2.25B | · | |
| AOCI | $800.0K | $-4M | $-15M | $-20M | $16M | $-24M | $-36M | $-4M | $-25M | $-26M | · | $-16M | $-59M | · | |
| Stockholders' Equity | $1.77B | $1.85B | $1.92B | $2.04B | $2.79B | $3.00B | $2.98B | $3.19B | $3.17B | $3.31B | $5.01B | $5.00B | $5.00B | $4.93B | |
| Liabilities + Equity | $5.72B | $5.63B | $5.77B | $5.68B | $6.38B | $6.46B | $6.42B | $6.80B | $6.69B | $6.70B | · | $8.55B | $8.79B | · | |
| Shares Outstanding | 68,300,000 | 68,100,000 | 67,900,000 | 67,900,000 | 67,700,000 | 67,500,000 | 67,300,000 | 67,200,000 | 67,100,000 | 66,800,000 | · | 66,800,000 | 66,600,000 | · |
Cash Flow 14
| Metric | Trend | Q2 2027 | Q1 2027 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q4 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $117M | $113M | $112M | $112M | $110M | $107M | $109M | $113M | $116M | $115M | $115M | $114M | $114M | $117M | |
| Stock-based Comp | $12M | $11M | $11M | $11M | $13M | $12M | $10M | $12M | $11M | $9M | $12M | · | $11M | $12M | |
| Amort. of Intangibles | $49M | $47M | $46M | $48M | $48M | $48M | $48M | $52M | $52M | $52M | $51M | $51M | $51M | $54M | |
| Other Non-cash | · | $-65M | · | · | · | $-40M | · | · | · | $1.58B | · | · | $15M | · | |
| Operating Cash Flow | $-111M | $-33M | $132M | $-46M | $-47M | $66M | $64M | $118M | $-98M | $-700.0K | $80M | · | $189M | $169M | |
| CapEx | $26M | $34M | $45M | $49M | $38M | $56M | $47M | $46M | $35M | $66M | $49M | · | $66M | $62M | |
| Investing Cash Flow | $-107M | $-34M | $-50M | $-54M | $-33M | $-56M | $-38M | $-56M | $-35M | $-20M | $-55M | · | $-69M | $-59M | |
| Net Debt Issued | · | $-22M | · | · | · | $-36M | · | · | · | $-52M | · | · | · | · | |
| Stock Issued | $400.0K | $2M | $100.0K | $3M | $100.0K | $3M | $0 | $400.0K | $4M | $500.0K | $4M | · | $2M | $21M | |
| Stock Repurchased | · | · | · | · | · | · | · | · | · | · | $7M | · | · | $0 | |
| Net Stock Activity | · | $2M | · | · | · | $3M | · | · | · | $500.0K | · | · | $2M | · | |
| Financing Cash Flow | $201M | $38M | $-11M | $46M | $103M | $18M | $-69M | $-26M | $162M | $-18M | $-58M | · | $-60M | $-32M | |
| Net Change in Cash | $-17M | $-29M | $72M | $-54M | $24M | $29M | $-46M | $36M | $28M | $-40M | $-30M | · | $61M | $81M | |
| Free Cash Flow | · | $-67M | · | · | · | $9M | · | · | · | $-67M | · | · | $123M | · |
Profitability 7
| Metric | Trend | Q2 2027 | Q1 2027 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q4 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | -3.5% | -5.1% | · | -100.7% | -29.4% | 4.7% | · | 2.1% | -18.4% | -247.3% | · | -4.0% | 11.8% | · | |
| Net Margin | -14.7% | -14.8% | · | -104.7% | -41.6% | -1.8% | · | -2.7% | -23.2% | -239.9% | · | -8.0% | 5.8% | · | |
| Pretax Margin | -12.9% | -12.8% | · | -108.1% | -37.4% | -1.3% | · | -4.0% | -25.6% | -253.0% | · | -9.7% | 7.1% | · | |
| EBITDA Margin | 15.0% | 13.1% | · | -84.7% | -11.5% | 20.2% | · | 17.6% | -0.22% | -231.1% | · | 13.2% | 25.3% | · | |
| ROA | -1.5% | -1.5% | · | -11.8% | -3.9% | -0.19% | · | -0.26% | -1.9% | -22.0% | · | · | · | · | |
| ROE | -4.1% | -3.8% | · | -28.1% | -8.6% | -0.40% | · | -0.49% | -3.6% | -41.1% | · | · | · | · | |
| ROIC | -1.2% | -1.8% | · | -31.0% | -6.0% | 1.4% | · | 0.29% | -3.0% | -48.1% | · | · | · | · |
Liquidity & Solvency 3
| Metric | Trend | Q2 2027 | Q1 2027 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q4 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.4 | 1.4 | · | 1.8 | 1.1 | 1.2 | · | 1.4 | 1.4 | 1.6 | · | · | · | · | |
| Quick Ratio | 0.5 | 0.5 | · | 0.6 | 0.4 | 0.4 | · | 0.4 | 0.4 | 0.4 | · | · | · | · | |
| Debt / Equity | 0.2 | 0.1 | · | 0.1 | 0.2 | 0.1 | · | 0.1 | 0.1 | 0.0 | · | · | · | · |
Efficiency 2
| Metric | Trend | Q2 2027 | Q1 2027 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q4 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | · | · | · | |
| Receivables Turnover | 2.0 | 1.9 | · | 2.1 | 2.3 | 2.5 | · | 2.3 | 2.5 | 2.6 | · | · | · | · |
Valuation (TTM) 13
| Metric | Trend | Q2 2027 | Q1 2027 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q4 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $2.56B | $2.63B | · | $2.73B | $2.67B | $2.77B | · | $2.82B | $2.76B | $2.97B | · | $3.08B | $3.03B | · | |
| Net Income TTM | $-1.17B | $-1.09B | · | $-1.02B | $-436M | $-1.89B | · | $-1.89B | $-1.92B | $-1.72B | · | $34M | $106M | · | |
| Market Cap | $942M | $1.01B | · | $1.92B | $1.95B | $2.36B | · | $3.06B | $2.23B | $3.20B | · | · | · | · | |
| Enterprise Value | $1.17B | $1.09B | · | $1.99B | $2.34B | $2.62B | · | $3.29B | $2.48B | $3.28B | · | · | · | · | |
| P/E | -0.8 | -0.9 | · | -1.9 | -4.5 | -1.2 | · | -1.6 | -1.2 | -1.9 | · | 169.1 | 54.0 | · | |
| P/S | 0.4 | 0.4 | · | 0.7 | 0.7 | 0.9 | · | 1.1 | 0.8 | 1.1 | · | · | · | · | |
| P/B | 0.5 | 0.5 | · | 0.9 | 0.7 | 0.8 | · | 1.0 | 0.7 | 1.0 | · | · | · | · | |
| P / Cash Flow | · | -30.5 | · | · | · | 35.9 | · | · | · | -4574.8 | · | · | · | · | |
| P / FCF | · | -15.0 | · | · | · | 250.5 | · | · | · | -47.9 | · | · | · | · | |
| EV / EBITDA | 12.4 | 13.5 | · | -3.4 | -33.2 | 18.8 | · | 25.7 | -1770.3 | -2.0 | · | · | · | · | |
| EV / FCF | · | -16.3 | · | · | · | 278.9 | · | · | · | -49.2 | · | · | · | · | |
| EV / Revenue | 0.5 | 0.4 | · | 0.7 | 0.9 | 0.9 | · | 1.2 | 0.9 | 1.1 | · | · | · | · | |
| Earnings Yield | -125.2% | -108.9% | · | -53.1% | -22.4% | -80.8% | · | -61.9% | -86.4% | -53.7% | · | 0.59% | 1.8% | · |
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
Income Statement
| 2025-12-28 | 2024-12-29 | 2023-12-31 | 2023-01-01 | 2022-01-02 | |
|---|---|---|---|---|---|
| Revenue | $2.73B | $2.78B | $3.00B | $3.27B | $1.70B |
| Operating Margin % | -33.7% | -70.5% | 4.6% | 25.8% | — |
| Net Income | $-1.13B | $-2.05B | $-10M | $549M | $704M |
| Diluted EPS | $-16.69 | $-30.54 | $-0.15 | $9.56 | $16.43 |
Balance Sheet
| 2025-12-28 | 2024-12-29 | 2023-12-31 | 2023-01-01 | 2022-01-02 | |
|---|---|---|---|---|---|
| Debt / Equity | 0.1 | 0.1 | — | 0.0 | — |
| Current Ratio | 1.5 | 1.2 | — | 1.6 | — |
| Quick Ratio | 0.6 | 0.4 | — | 0.8 | — |
Cash Flow
| 2025-12-28 | 2024-12-29 | 2023-12-31 | 2023-01-01 | 2022-01-02 | |
|---|---|---|---|---|---|
| Free Cash Flow | $-83M | $-112M | $71M | $744M | — |
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Institutional owners (13F) 276 filers · $1.0B 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 |
|---|---|---|---|---|
| 64 (+20 vs prior Q) | 45 (+4 vs prior Q) | 83 (-3 vs prior Q) | 66 (-4 vs prior Q) | +6.1M |
Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.
| Institution | Value | Shares | % of tracked 13F | Type |
|---|---|---|---|---|
| FMR LLC | $127,267,546 | 7,266,203 | 12.22% | Shares |
| Newtyn Management, LLC | $116,036,875 | 6,625,000 | 11.14% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $72,432,652 | 4,135,464 | 6.95% | Shares |
| NEUBERGER BERMAN GROUP LLC | $60,385,579 | 3,435,445 | 5.80% | Shares |
| AMERICAN CENTURY COMPANIES INC | $57,923,489 | 3,307,079 | 5.56% | Shares |
| Rubric Capital Management LP | $57,909,512 | 3,306,281 | 5.56% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $53,771,996 | 3,070,054 | 5.16% | Shares |
| STATE STREET CORP | $52,170,862 | 2,978,639 | 5.01% | Shares |
| PRIVATE MANAGEMENT GROUP INC | $36,262,907 | 2,070,391 | 3.48% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $27,648,921 | 1,578,240 | 2.65% | Shares |
| SEGALL BRYANT & HAMILL, LLC | $23,566,958 | 1,345,530 | 2.26% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $20,301,409 | 1,159,087 | 1.95% | Shares |
| Allianz Asset Management GmbH | $19,725,831 | 1,126,225 | 1.89% | Shares |
| RICE HALL JAMES & ASSOCIATES, LLC | $18,628,236 | 1,063,559 | 1.79% | Shares |
| GAGNON SECURITIES LLC | $18,046,948 | 1,030,371 | 1.73% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $17,832,105 | 1,018,104 | 1.71% | Shares |
| Buckley Capital Advisors, LLC | $14,893,618 | 850,335 | 1.43% | Shares |
| PARADIGM CAPITAL MANAGEMENT INC/NY | $14,187,150 | 810,000 | 1.36% | Shares |
| GOLDMAN SACHS GROUP INC | $13,930,993 | 795,375 | 1.34% | Shares |
| MILLENNIUM MANAGEMENT LLC | $12,654,237 | 722,480 | 1.21% | Shares |
| Point72 (DIFC) Ltd | $11,828,357 | 401,642 | 1.14% | Shares |
| VAN LANSCHOT KEMPEN INVESTMENT MANAGEMENT N.V. | $11,333,414 | 647,069 | 1.09% | Shares |
| Gem Investment Advisors, LLC | $9,913,455 | 565,998 | 0.95% | Shares |
| Skylands Capital, LLC | $9,818,453 | 560,414 | 0.94% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $7,915,326 | 451,917 | 0.76% | Shares |
| BRIDGEWAY CAPITAL MANAGEMENT, LLC | $6,990,044 | 399,089 | 0.67% | Shares |
| Aristotle Capital Boston, LLC | $6,132,798 | 350,145 | 0.59% | Shares |
| Lightrock Netherlands B.V. | $5,088,930 | 290,547 | 0.49% | Shares |
| Empowered Funds, LLC | $4,693,827 | 267,989 | 0.45% | Shares |
| Bank of New York Mellon Corp | $4,441,559 | 253,586 | 0.43% | Shares |
| GAMCO INVESTORS, INC. ET AL | $4,400,381 | 251,235 | 0.42% | Shares |
| AMERIPRISE FINANCIAL INC | $4,250,383 | 242,671 | 0.41% | Shares |
| Gagnon Advisors, LLC | $4,222,814 | 241,097 | 0.41% | Shares |
| Susquehanna Portfolio Strategies, LLC | $4,204,896 | 240,074 | 0.40% | Shares |
| Public Sector Pension Investment Board | $4,103,362 | 234,277 | 0.39% | Shares |
| Edgestream Partners, L.P. | $3,967,971 | 226,547 | 0.38% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $3,744,024 | 213,700 | 0.36% | Put option |
| TUDOR INVESTMENT CORP ET AL | $3,414,602 | 194,953 | 0.33% | Shares |
| ORACLE INVESTMENT MANAGEMENT INC | $3,378,391 | 118,291 | 0.32% | Shares |
| AYAL Capital Advisors Ltd | $3,152,700 | 180,000 | 0.30% | Shares |
| GABELLI FUNDS LLC | $3,089,646 | 176,400 | 0.30% | Shares |
| RHUMBLINE ADVISERS | $3,081,655 | 175,945 | 0.30% | Shares |
| Quantinno Capital Management LP | $2,548,345 | 145,495 | 0.24% | Shares |
| Ballast Asset Management, LP | $2,531,373 | 144,526 | 0.24% | Shares |
| Swiss National Bank | $2,393,250 | 136,640 | 0.23% | Shares |
| Tejara Capital Ltd | $2,275,023 | 129,890 | 0.22% | Shares |
| D. E. Shaw & Co., Inc. | $2,250,678 | 128,500 | 0.22% | Put option |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $2,226,792 | 127,100 | 0.21% | Call option |
| D. E. Shaw & Co., Inc. | $2,212,074 | 126,296 | 0.21% | Shares |
| Nuveen Asset Management, LLC | $1,832,342 | 41,130 | 0.18% | Shares |
| Legal & General Group Plc | $1,823,311 | 104,100 | 0.18% | Shares |
| BEACONLIGHT CAPITAL, LLC | $1,800,542 | 102,800 | 0.17% | Shares |
| BANK OF AMERICA CORP /DE/ | $1,784,271 | 101,871 | 0.17% | Shares |
| PRUDENTIAL FINANCIAL INC | $1,746,815 | 99,761 | 0.17% | Shares |
| Summit Trail Advisors, LLC | $1,736,735 | 99,157 | 0.17% | Shares |
| BlackRock, Inc. | $1,713,090 | 97,807 | 0.16% | Shares |
| XTX Topco Ltd | $1,710,462 | 97,657 | 0.16% | Shares |
| BOOTHBAY FUND MANAGEMENT, LLC | $1,572,199 | 89,763 | 0.15% | Shares |
| KENNEDY CAPITAL MANAGEMENT LLC | $1,563,967 | 89,293 | 0.15% | Shares |
| JPMORGAN CHASE & CO | $1,538,120 | 84,373 | 0.15% | Shares |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM | $1,527,809 | 92,989 | 0.15% | Shares |
| Y-Intercept (Hong Kong) Ltd | $1,525,854 | 87,117 | 0.15% | Shares |
| Squarepoint Ops LLC | $1,493,171 | 85,251 | 0.14% | Shares |
| Nebula Research & Development LLC | $1,397,309 | 48,484 | 0.13% | Shares |
| ALLIANCEBERNSTEIN L.P. | $1,283,889 | 78,143 | 0.12% | Shares |
| JANE STREET GROUP, LLC | $1,261,080 | 72,000 | 0.12% | Call option |
| MOODY NATIONAL BANK TRUST DIVISION | $1,239,151 | 70,748 | 0.12% | Shares |
| Monaco Asset Management SAM | $1,138,475 | 65,000 | 0.11% | Shares |
| VANGUARD ASSET MANAGEMENT, Ltd | $1,094,320 | 62,479 | 0.11% | Shares |
| VANGUARD GROUP INC | $1,032,701 | 36,159 | 0.10% | Shares |
| Walleye Capital LLC | $1,019,373 | 58,200 | 0.10% | Put option |
| STATE OF WISCONSIN INVESTMENT BOARD | $1,000,614 | 57,129 | 0.10% | Shares |
| WEDGE CAPITAL MANAGEMENT L L P/NC | $923,070 | 56,182 | 0.09% | Shares |
| Marble Bar Asset Management LLP | $875,750 | 50,000 | 0.08% | Shares |
| CITADEL ADVISORS LLC | $872,247 | 49,800 | 0.08% | Call option |
| MORGAN STANLEY | $854,802 | 48,804 | 0.08% | Shares |
| SYSTEMATIC FINANCIAL MANAGEMENT LP | $792,291 | 45,235 | 0.08% | Shares |
| CITADEL ADVISORS LLC | $725,121 | 41,400 | 0.07% | Put option |
| Brevan Howard Capital Management LP | $716,013 | 40,880 | 0.07% | Shares |
| Orion Portfolio Solutions, LLC | $704,960 | 20,159 | 0.07% | Shares |
| BNP PARIBAS FINANCIAL MARKETS | $703,980 | 40,193 | 0.07% | Shares |
| MetLife Investment Management, LLC | $696,046 | 39,740 | 0.07% | Shares |
| Illinois Municipal Retirement Fund | $609,434 | 34,795 | 0.06% | Shares |
| Walleye Capital LLC | $563,983 | 32,200 | 0.05% | Call option |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. | $556,049 | 31,747 | 0.05% | Shares |
| Cubist Systematic Strategies, LLC | $550,715 | 18,700 | 0.05% | Call option |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $540,180 | 30,841 | 0.05% | Shares |
| Point72 Asset Management, L.P. | $532,841 | 30,422 | 0.05% | Shares |
| Louisiana State Employees Retirement System | $523,699 | 29,900 | 0.05% | Shares |
| JUPITER ASSET MANAGEMENT LTD | $508,513 | 29,033 | 0.05% | Shares |
| NorthRock Partners, LLC | $504,730 | 28,817 | 0.05% | Shares |
| Engineers Gate Manager LP | $500,298 | 28,564 | 0.05% | Shares |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE | $498,862 | 28,482 | 0.05% | Shares |
| Mariner, LLC | $489,602 | 27,962 | 0.05% | Shares |
| Vanguard Global Advisers, LLC | $479,193 | 27,359 | 0.05% | Shares |
| Cubist Systematic Strategies, LLC | $477,090 | 16,200 | 0.05% | Put option |
| JANUS HENDERSON GROUP PLC | $476,500 | 28,993 | 0.05% | Shares |
| MIRABELLA FINANCIAL SERVICES LLP | $475,918 | 27,172 | 0.05% | Shares |
| Verdence Capital Advisors LLC | $471,469 | 26,918 | 0.05% | Shares |
| Invesco Ltd. | $471,364 | 26,912 | 0.05% | Shares |
Company insiders 24 insiders · 10 officers · 13 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Douglas C Bryant | President & CEO | Feb. 8, 2024 A | 549,415 | 0 | 0 | $0 |
| Micah W Young | Chief Financial Officer | July 15, 2026 A | — | 0 | 0 | $0 |
| Robert Joseph Bujarski | EVP & COO | Oct. 15, 2024 M | 44,810 | 0 | 0 | $0 |
| Bryan Michael Hanson | EVP Global Port. Mgmt & Mkting | Aug. 15, 2026 M | 8,055 | 0 | 0 | $0 |
| Michelle A. Hodges | SVP, General Counsel | Oct. 15, 2024 M | 13,961 | 0 | 0 | $0 |
| Ronald Lee Bowman | Chief Human Resources Officer | Sept. 15, 2024 A | — | 0 | 0 | $0 |
| Werner Kroll | SVP, Research & Development | July 28, 2024 M | 36,357 | 0 | 0 | $0 |
| Michael S. Iskra | EVP & CCO | June 1, 2024 M | 16,644 | 0 | 0 | $0 |
| Louise Brandy | SVP, Chief Information Officer | April 26, 2024 M | 2,154 | 0 | 0 | $0 |
| Patrick Klein | Chief Administrative Officer | Feb. 8, 2024 A | — | 0 | 0 | $0 |
| Joseph D Wilkins Jr. | Director | June 25, 2026 A | 18,705 | 0 | 0 | $0 |
| John R Chiminski | Director | June 25, 2026 A | 9,352 | 0 | 0 | $0 |
| Edward L. Michael | Director | June 25, 2026 A | 29,433 | 0 | 0 | $0 |
| Evelyn S Dilsaver | Director | June 25, 2026 A | 17,453 | 0 | 0 | $0 |
| Scott R Huennekens | Director | June 25, 2026 A | 9,352 | 0 | 0 | $0 |
| Ann D Rhoads | Director | June 25, 2026 A | 23,257 | 1 | 0 | $21,210 |
| Kenneth F Buechler | Director | June 25, 2026 A | 110,906 | 0 | 0 | $0 |
| Mary Lake Ph D Polan | Director | June 25, 2026 A | 20,442 | 1 | 0 | $22,430 |
| Kenneth J Widder | Director | June 25, 2026 A | 45,073 | 0 | 1 | $-111,963 |
| Matthew Strobeck | Director | May 29, 2026 M | 34,604 | 1 | 0 | $239,600 |
| James Prutow | Director | May 28, 2024 M | 1,519 | 0 | 0 | $0 |
| Christopher M Smith | Director | June 6, 2023 M | 2,249 | 0 | 0 | $0 |
| Nathaniel Sisitsky | — | April 15, 2026 A | — | 0 | 0 | $0 |
| Joseph M Busky | — | March 28, 2026 M | 44,818 | 3 | 0 | $283,774 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
ETF ownership Held by 62 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 |
|---|---|---|---|---|
| QQQS · Invesco Exchange-Traded Fund Trust … | 0.47% | 8,599 SH | Aug. 8, 2026 | Daily |
| PSCH · Invesco Exchange-Traded Fund Trust … | 0.42% | 59,184 SH | Aug. 8, 2026 | Daily |
| IHI · iShares Trust | 0.16% | 322,721 SH | Aug. 8, 2026 | Daily |
| RWJ · Invesco Exchange-Traded Fund Trust … | 0.15% | 254,699 SH | Aug. 8, 2026 | Daily |
| FFSM · FIDELITY COVINGTON TRUST | 0.14% | 149,284 NS | April 30, 2026 | N-PORT |
| VIOV · VANGUARD ADMIRAL FUNDS | 0.13% | 144,697 SH | Aug. 8, 2026 | Daily |
| AVUV · AMERICAN CENTURY ETF TRUST | 0.13% | 2,683,435 NS | May 31, 2026 | N-PORT |
| MSSM · MORGAN STANLEY PATHWAY FUNDS | 0.12% | 71,856 NS | May 31, 2026 | N-PORT |
| FSCC · Federated Hermes ETF Trust | 0.12% | 25,752 NS | May 31, 2026 | N-PORT |
| IJS · iShares Trust | 0.12% | 610,003 SH | Aug. 8, 2026 | Daily |
| SMDX · Tidal Trust III | 0.10% | 10,180 NS | April 30, 2026 | N-PORT |
| VTWV · VANGUARD SCOTTSDALE FUNDS | 0.08% | 60,016 SH | Aug. 8, 2026 | Daily |
| IWN · iShares Trust | 0.07% | 640,557 SH | Aug. 8, 2026 | Daily |
| XJR · iShares Trust | 0.07% | 8,060 SH | Aug. 8, 2026 | Daily |
| IJR · iShares Trust | 0.06% | 4,160,774 SH | Aug. 8, 2026 | Daily |
| VIOO · VANGUARD ADMIRAL FUNDS | 0.06% | 237,730 SH | Aug. 8, 2026 | Daily |
| DFSV · Dimensional ETF Trust | 0.06% | 343,850 NS | April 30, 2026 | N-PORT |
| QVMS · Invesco Exchange-Traded Fund Trust … | 0.05% | 10,458 SH | Aug. 8, 2026 | Daily |
| AVSC · AMERICAN CENTURY ETF TRUST | 0.05% | 98,962 NS | May 31, 2026 | N-PORT |
| BBSC · J.P. Morgan Exchange-Traded Fund Tr… | 0.04% | 25,486 NS | April 30, 2026 | N-PORT |
| VTWO · VANGUARD SCOTTSDALE FUNDS | 0.04% | 396,669 SH | Aug. 8, 2026 | Daily |
| SAA · ProShares Trust | 0.04% | 811 NS | May 31, 2026 | N-PORT |
| IWM · iShares Trust | 0.04% | 1,759,839 SH | Aug. 8, 2026 | Daily |
| ISCV · iShares Trust | 0.03% | 14,713 SH | Aug. 8, 2026 | Daily |
| DFAT · Dimensional ETF Trust | 0.03% | 345,609 NS | April 30, 2026 | N-PORT |
| VBR · VANGUARD INDEX FUNDS | 0.03% | 990,836 SH | Aug. 8, 2026 | Daily |
| RSSL · Global X Funds | 0.03% | 29,409 NS | April 30, 2026 | N-PORT |
| ITWO · ProShares Trust | 0.02% | 3,191 NS | May 31, 2026 | N-PORT |
| VHT · VANGUARD WORLD FUND | 0.02% | 204,653 SH | Aug. 8, 2026 | Daily |
| DFAS · Dimensional ETF Trust | 0.02% | 223,985 NS | April 30, 2026 | N-PORT |
| SCHA · SCHWAB STRATEGIC TRUST | 0.02% | 323,837 NS | May 31, 2026 | N-PORT |
| ISCB · iShares Trust | 0.02% | 3,033 SH | Aug. 8, 2026 | Daily |
| GSSC · Goldman Sachs ETF Trust | 0.02% | 12,835 NS | May 31, 2026 | N-PORT |
| NUSC · Nushares ETF Trust | 0.02% | 17,309 NS | April 30, 2026 | N-PORT |
| FHLC · FIDELITY COVINGTON TRUST | 0.01% | 31,649 NS | April 30, 2026 | N-PORT |
| UWM · ProShares Trust | 0.01% | 2,496 NS | May 31, 2026 | N-PORT |
| PRF · Invesco Exchange-Traded Fund Trust | 0.01% | 92,644 SH | Aug. 8, 2026 | Daily |
| WSML · iShares Trust | 0.01% | 4,217 SH | Aug. 8, 2026 | Daily |
| VXF · VANGUARD INDEX FUNDS | 0.01% | 780,319 SH | Aug. 8, 2026 | Daily |
| VB · VANGUARD INDEX FUNDS | 0.01% | 1,559,518 SH | Aug. 8, 2026 | Daily |
| URTY · ProShares Trust | 0.01% | 2,526 NS | May 31, 2026 | N-PORT |
| FNDX · SCHWAB STRATEGIC TRUST | 0.01% | 171,317 NS | May 31, 2026 | N-PORT |
| FNDB · SCHWAB STRATEGIC TRUST | 0.01% | 8,023 NS | May 31, 2026 | N-PORT |
| DXUV · Dimensional ETF Trust | 0.01% | 2,527 NS | April 30, 2026 | N-PORT |
| AVSU · AMERICAN CENTURY ETF TRUST | 0.01% | 2,693 NS | May 31, 2026 | N-PORT |
| TILT · FlexShares Trust | 0.01% | 10,934 NS | April 30, 2026 | N-PORT |
| AVUS · AMERICAN CENTURY ETF TRUST | 0.00% | 47,331 NS | May 31, 2026 | N-PORT |
| HDG · ProShares Trust | 0.00% | 63 NS | May 31, 2026 | N-PORT |
| DCOR · Dimensional ETF Trust | 0.00% | 6,943 NS | April 30, 2026 | N-PORT |
| ONEQ · Fidelity Commonwealth Trust | 0.00% | 23,870 NS | May 31, 2026 | N-PORT |