10-Year Performance
Revenue, net income, margins and EPS trends
06
Revenue$139M2022-12-31 → 2025-12-31
EPS$-2.512022-12-31 → 2025-12-31
Free Cash Flow$-80M2022-12-31 → 2025-12-31
Net margin-80.2%2022-12-31 → 2025-12-31
Valuation & Ratios07–12
Valuation
P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Metric
5Y trend
QTRX
5Y avg
Peer Median
Verdict
P/E (TTM)
-1.45Y avg ≈-16.5
≈-16.5
·
·
P/S (TTM)
1.1
·
4.6
Undervalued
P/B (MRQ)
0.7
·
1.3
Undervalued
Price / FCF (TTM)
-2.1
·
·
·
Price / Cash Flow (TTM)
-2.1
·
·
·
Price / Tangible Book (MRQ)
1.35Y avg ≈2.1
≈2.1
·
·
Peer median is calculated on a standardized basis per metric and may not always match the TTM/MRQ basis shown for this stock.
Profitability
Gross, operating and net margins; ROE, ROA, ROIC
Metric
5Y trend
QTRX
5Y avg
Peer Median
Verdict
Gross Margin (TTM)
42.7%
·
48.5%
Weak
Operating Margin (TTM)
-99.6%
·
-126.3%
Weak
EBITDA Margin (TTM)
-84.4%
·
-126.3%
Weak
Pretax Margin (TTM)
-81.7%
·
-106.6%
Weak
Net Profit Margin (TTM)
-80.2%
·
-127.6%
Weak
ROA (TTM)
-35.4%
·
-20.2%
Weak
ROE (TTM)
-46.5%
·
-26.9%
Weak
ROIC
-40.5%
·
-30.2%
Weak
Financial Health
Debt, liquidity, solvency — balance sheet strength
Metric
5Y trend
QTRX
5Y avg
Peer Median
Verdict
Current Ratio (MRQ)
3.4
·
6.8
Low liquidity
Quick Ratio
0.8
·
2.1
Low liquidity
Growth
Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Metric
5Y trend
QTRX
5Y avg
Peer Median
Verdict
Revenue YoY
1.1%5Y avg ≈9.8%
≈9.8%
·
·
Revenue CAGR 3Y
9.6%5Y avg ≈9.8%
≈9.8%
·
·
Revenue CAGR 5Y
10.0%
·
·
·
Per Share Metrics
EPS, book value per share, cash flow per share, dividend per share
Metric
5Y trend
QTRX
5Y avg
Peer Median
Verdict
EPS (Diluted)
$-2.515Y avg ≈$-1.42
≈$-1.42
·
·
Revenue / Share
$3.26
·
·
·
Cash Flow / Share
$-1.81
·
·
·
Cash / Share
$0.64
·
·
·
Capital Efficiency
Asset turnover, inventory turnover, receivables turnover
Metric
5Y trend
QTRX
5Y avg
Peer Median
Verdict
Asset Turnover
0.3
·
0.4
In line
Inventory Turnover
1.7
·
2.1
Weak
Receivables Turnover
4.5
·
5.2
Weak
Revenue / Employee
≈$308.7K
·
·
·
value · ≈ 5Y avg · industry median · verdict relative to median
Earnings History
EPS actual vs estimate, surprise %, beat rate, next earnings date
14
Avg Surprise-30.0%
Next ReportNov 09, 2026
Period
Report
EPS Actual
EPS Est
Surprise
June 30, 2026
Aug 5, 2026
$-1.04
$-0.47
-121.7%
March 31, 2026
May 12, 2026
$-0.37
$-0.55
33.2%
Dec. 31, 2025
$-0.49
$-0.46
-6.8%
Sept. 30, 2025
$-0.73
$-0.54
-35.0%
June 30, 2025
$-0.57
$-0.37
-55.2%
March 31, 2025
$-0.42
$-0.45
5.7%
Full Fundamentals
All metrics by year — income statement, balance sheet, cash flow
15
Income Statement16
Metric
Trend
2025
2024
2023
2022
2021
2020
2019
2018
2017
Revenue
$139M
$137M
$122M
$106M
$111M
$86M
$57M
$38M
$23M
Cost of Revenue
$74M
$54M
$48M
$60M
$46M
$38M
$30M
$20M
$13M
Gross Profit
$65M
$83M
$74M
$45M
$65M
$48M
$27M
$18M
$10M
R&D Expense
$36M
$31M
$26M
$27M
$28M
$20M
$16M
$16M
$16M
SG&A Expense
$138M
$102M
$89M
$92M
$93M
$60M
$52M
$34M
$20M
Operating Expenses
$191M
$136M
$120M
$150M
$121M
$80M
$68M
$49M
$36M
Operating Income
$-126M
$-53M
$-46M
$-104M
$-57M
$-32M
$-42M
$-32M
$-26M
Other Non-op
$157.0K
$-136.0K
$3M
$-277.0K
$1M
$-49.0K
$-10.0K
$-7.0K
$-63.0K
Pretax Income
$-112M
$-38M
$-28M
$-99M
$-56M
$-32M
$-41M
$-32M
$-27M
Income Tax
$-5M
$434.0K
$719.0K
$164.0K
$-36.0K
$-376.0K
$-187.0K
$25.0K
$0
Net Income
$-107M
$-39M
$-28M
$-100M
$-56M
$-32M
$-41M
$-32M
$-27M
EPS (Basic)
$-2.51
$-1.00
$-0.75
$-2.69
$-1.54
$-1.07
$-1.63
·
·
EPS (Diluted)
$-2.51
$-1.00
$-0.75
$-2.69
$-1.54
$-1.07
$-1.63
·
·
Shares (Basic)
42,639,000
38,367,000
37,594,000
36,991,000
35,997,000
29,589,132
25,090,708
·
·
Shares (Diluted)
42,639,000
38,367,000
37,594,000
36,991,000
35,997,000
29,589,132
25,090,708
·
·
EBITDA
$-110M
·
$-40M
$-96M
$-54M
$-27M
$-39M
·
·
Balance Sheet27
Metric
Trend
2025
2024
2023
2022
2021
2020
2019
2018
2017
Cash & Equivalents
$30M
$57M
$174M
$339M
$396M
$182M
$109M
$44M
$80M
Short-term Investments
·
$0
$7M
$0
·
·
·
·
·
Receivables
$30M
$32M
$25M
$19M
$24M
$17M
$11M
$7M
$6M
Inventory
$55M
$33M
$26M
$17M
$22M
$15M
$10M
$6M
$4M
Prepaid Expense
$9M
$10M
$9M
$7M
$7M
$6M
$2M
$2M
$400.0K
Current Assets
$212M
$364M
$382M
$382M
$449M
$220M
$133M
$59M
$89M
PP&E (Net)
$24M
$17M
$18M
$20M
$18M
$14M
$12M
$3M
$2M
PP&E (Gross)
$49M
$36M
$32M
$31M
$26M
$20M
$16M
$6M
$4M
Accum. Depreciation
$26M
$19M
$14M
$11M
$8M
$6M
$4M
$3M
$2M
Goodwill
$26M
$0
$0
$0
$10M
$10M
$9M
$1M
·
Intangibles
$132M
$4M
$6M
$8M
$11M
$14M
$14M
$2M
·
Other Non-current Assets
$5M
$3M
$2M
$911.0K
$378.0K
$357.0K
$557.0K
$536.0K
$653.0K
Total Assets
$419M
$407M
$429M
$434M
$502M
$271M
$170M
$68M
$92M
Accounts Payable
$14M
$7M
$5M
$4M
$9M
$7M
$6M
$5M
$4M
Current Liabilities
$75M
$42M
$39M
$31M
$37M
$40M
$20M
$18M
$20M
Capital Leases
$29M
$33M
$37M
$41M
$20M
$22M
·
·
·
Deferred Tax
·
·
·
·
$2M
$3M
$3M
$7.0K
·
Other Non-current Liabilities
$8M
$800.0K
$1M
$1M
$2M
$3M
$13M
$278.0K
$144.0K
Total Liabilities
$123M
$76M
$79M
$76M
$61M
$65M
$41M
$27M
$26M
Long-term Debt
·
·
·
·
·
$8M
$8M
$8M
$9M
Total Debt
·
·
·
·
·
$8M
$8M
·
·
Common Stock
$47.0K
$39.0K
$38.0K
$37.0K
$37.0K
$32.0K
$28.0K
$22.0K
$22.0K
Retained Earnings
$-577M
$-470M
$-432M
$-403M
$-305M
$-248M
$-216M
$-176M
$-144M
AOCI
$-723.0K
$-3M
$-2M
$-3M
$441.0K
$2M
$-153.0K
·
·
Stockholders' Equity
$296M
$330M
$350M
$358M
$443M
$206M
$129M
$41M
$66M
Liabilities + Equity
$419M
$407M
$429M
$434M
$502M
$271M
$170M
$68M
$92M
Shares Outstanding
46,744,000
38,573,000
38,014,000
37,280,000
36,768,035
31,796,544
28,112,201
22,369,036
21,707,041
Cash Flow14
Metric
Trend
2025
2024
2023
2022
2021
2020
2019
2018
2017
D&A
$16M
$6M
$6M
$5M
$5M
$4M
$3M
$1M
$482.0K
Stock-based Comp
$21M
$20M
$17M
$15M
$16M
$10M
$6M
$5M
$2M
Deferred Tax
$-6M
$-286.0K
$-292.0K
$-295.0K
$-409.0K
$-491.0K
$-300.0K
$7.0K
·
Amort. of Intangibles
$8M
$2M
$2M
$2M
$2M
$2M
$1M
$600.0K
$0
Restructuring
$8M
·
·
$4M
·
·
·
·
·
Other Non-cash
$-1M
·
$-13M
$28M
$-11M
$-6M
$6M
·
·
Operating Cash Flow
$-77M
$-35M
$-19M
$-49M
$-48M
$-23M
$-26M
$-29M
$-22M
CapEx
$3M
$3M
$4M
$12M
$14M
$4M
$11M
$2M
$1M
Investing Cash Flow
$50M
$-82M
$-148M
$-11M
$-6M
$-626.0K
$-25M
$-5M
$-1M
Stock Issued
·
·
·
·
·
·
·
$-20.0K
$8M
Financing Cash Flow
$-708.0K
$456.0K
$3M
$2M
$271M
$96M
$116M
$-78.0K
$73M
Net Change in Cash
·
·
·
$-57M
$217M
$72M
$65M
$-34M
$50M
Taxes Paid
$1M
·
·
·
·
·
·
·
·
Free Cash Flow
$-80M
·
$-23M
$-60M
$-62M
$-27M
$-37M
·
·
Profitability8
Metric
Trend
2025
2024
2023
2022
2021
2020
2019
2018
2017
Gross Margin
46.8%
·
60.7%
44.4%
55.8%
55.8%
47.3%
·
·
Operating Margin
-90.4%
·
-37.6%
-96.4%
-53.0%
-36.6%
-73.3%
·
·
Net Margin
-77.1%
·
-23.2%
-91.6%
-52.2%
-36.5%
-71.9%
·
·
Pretax Margin
-80.8%
·
-22.6%
-91.6%
-52.2%
-36.9%
-72.2%
·
·
EBITDA Margin
-79.0%
·
-32.5%
-91.3%
-48.6%
-31.6%
-68.0%
·
·
ROA
-26.0%
·
·
-22.0%
-14.9%
-14.3%
-34.4%
·
·
ROE
-36.4%
·
·
-26.5%
-12.9%
-15.2%
-30.8%
·
·
ROIC
-40.5%
·
·
-28.3%
-13.3%
-14.6%
-30.4%
·
·
Liquidity & Solvency4
Metric
Trend
2025
2024
2023
2022
2021
2020
2019
2018
2017
Current Ratio
2.8
·
·
12.3
12.1
5.5
6.7
·
·
Quick Ratio
0.8
·
·
11.6
11.4
5.0
6.1
·
·
Debt / Equity
·
·
·
·
·
0.0
0.1
·
·
LT Debt / Equity
·
·
·
·
·
·
0.1
·
·
Efficiency3
Metric
Trend
2025
2024
2023
2022
2021
2020
2019
2018
2017
Asset Turnover
0.3
·
·
0.2
0.3
0.4
0.5
·
·
Inventory Turnover
1.7
·
·
3.4
2.6
3.0
3.6
·
·
Receivables Turnover
4.5
·
·
5.7
5.4
6.2
6.4
·
·
Per Share5
Metric
Trend
2025
2024
2023
2022
2021
2020
2019
2018
2017
Book Value / Share
$6.33
·
·
$9.63
$11.99
$6.48
$4.58
·
·
Revenue / Share
$3.26
·
$3.25
$2.85
$3.07
$2.92
·
·
·
Cash Flow / Share
$-1.81
·
$-0.50
$-1.30
$-1.33
$-0.79
·
·
·
Cash / Share
$0.64
·
·
$9.09
$10.78
$5.71
$3.88
·
·
EPS (TTM)
$-2.51
$-1.00
$-0.75
$-2.69
$-1.54
$-1.07
$-1.63
·
·
Growth Rates3
Metric
Trend
2025
2024
2023
2022
2021
2020
2019
2018
2017
Revenue YoY
1.1%
12.3%
16.0%
-4.5%
28.0%
·
·
·
·
Revenue CAGR 3Y
9.6%
7.5%
12.3%
·
·
·
·
·
·
Revenue CAGR 5Y
10.0%
·
·
·
·
·
·
·
·
Valuation (TTM)14
Metric
Trend
2025
2024
2023
2022
2021
2020
2019
2018
2017
Revenue TTM
$139M
$137M
$122M
$106M
$111M
$86M
$57M
$38M
$23M
Net Income TTM
$-107M
$-39M
$-28M
$-100M
$-56M
$-32M
$-41M
$-32M
$-27M
Market Cap
$297M
·
·
$516M
$1.56B
$1.48B
$664M
·
·
Enterprise Value
·
·
·
·
·
$1.30B
$563M
·
·
P/E
-2.5
-10.6
-36.5
-5.1
-27.5
-43.5
-14.5
·
·
P/S
2.1
·
·
4.9
14.1
17.1
11.7
·
·
P/B
1.0
·
·
1.4
3.5
7.2
5.2
·
·
P / Tangible Book
2.2
1.3
3.0
1.5
3.7
8.1
·
·
·
P / Cash Flow
-3.8
·
·
-10.7
-32.5
-63.3
-25.4
·
·
P / FCF
-3.7
·
·
-8.6
-25.3
-54.2
-17.9
·
·
EV / EBITDA
·
·
·
·
·
-47.8
-14.6
·
·
EV / FCF
·
·
·
·
·
-47.8
-15.2
·
·
EV / Revenue
·
·
·
·
·
15.1
9.9
·
·
Earnings Yield
-39.5%
-9.4%
-2.7%
-19.4%
-3.6%
-2.3%
-6.9%
·
·
Income Statement16
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
$33M
$36M
$44M
$40M
$24M
$30M
$35M
$36M
$34M
$32M
$32M
$32M
$31M
$28M
$26M
$27M
Cost of Revenue
$20M
$21M
$24M
$23M
$14M
$15M
$13M
$16M
$12M
$14M
$12M
$12M
$11M
$12M
$15M
$16M
Gross Profit
$13M
$16M
$20M
$17M
$10M
$15M
$22M
$20M
$22M
$19M
$19M
$19M
$19M
$16M
$11M
$10M
R&D Expense
$8M
$7M
$9M
$8M
$9M
$10M
$8M
$8M
$8M
$7M
$7M
$8M
$6M
$5M
$7M
$7M
SG&A Expense
$27M
$30M
$35M
$39M
$30M
$31M
$29M
$23M
$24M
$26M
$23M
$24M
$21M
$21M
$19M
$20M
Operating Expenses
$62M
$57M
$45M
$55M
$47M
$41M
$37M
$32M
$33M
$34M
$33M
$32M
$28M
$27M
$36M
$48M
Operating Income
$-49M
$-41M
$-25M
$-37M
$-37M
$-26M
$-15M
$-12M
$-11M
$-15M
$-14M
$-13M
$-9M
$-11M
$-25M
$-38M
Other Non-op
$-239.0K
$21M
$225.0K
$-178.0K
$49.0K
$61.0K
$-358.0K
$5.0K
$-9.0K
$226.0K
$626.0K
$2M
$-214.0K
$-5.0K
$399.0K
$-235.0K
Pretax Income
$-49M
$-18M
$-23M
$-36M
$-30M
$-23M
$-12M
$-8M
$-7M
$-11M
$-9M
$-7M
$-5M
$-7M
$-21M
$-36M
Income Tax
$-54.0K
$-7.0K
$345.0K
$-2M
$-73.0K
$-3M
$-8.0K
$145.0K
$117.0K
$180.0K
$141.0K
$203.0K
$235.0K
$140.0K
$154.0K
$72.0K
Net Income
$-49M
$-18M
$-23M
$-34M
$-30M
$-21M
$-12M
$-8M
$-7M
$-11M
$-9M
$-7M
$-6M
$-7M
$-21M
$-37M
EPS (Basic)
$-1.04
$-0.37
$-0.48
$-0.73
$-0.77
$-0.53
$-0.30
$-0.22
$-0.19
$-0.29
$-0.23
$-0.18
$-0.15
$-0.19
$-0.58
$-0.99
EPS (Diluted)
$-1.04
$-0.37
$-0.48
$-0.73
$-0.77
$-0.53
$-0.30
$-0.22
$-0.19
$-0.29
$-0.23
$-0.18
$-0.15
$-0.19
$-0.58
$-0.99
Shares (Basic)
47,167,000
46,979,000
·
46,060,000
38,893,000
38,718,000
·
38,449,000
38,338,000
38,126,000
37,890,000
37,657,000
37,494,000
37,327,000
37,160,000
37,005,000
Shares (Diluted)
47,167,000
46,979,000
·
46,060,000
38,893,000
38,718,000
·
38,449,000
38,338,000
38,126,000
37,890,000
37,657,000
37,494,000
37,327,000
37,160,000
37,005,000
EBITDA
$-49M
$-36M
·
$-37M
$-37M
$-24M
·
$-12M
$-11M
$-14M
·
$-14M
$-10M
$-8M
·
$-37M
Balance Sheet23
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
$44M
$36M
$30M
$38M
$133M
$77M
$57M
$29M
$47M
$45M
·
$201M
$330M
$329M
·
$344M
Receivables
$22M
$27M
$30M
$33M
$24M
$28M
$32M
$31M
$32M
$29M
·
$24M
$24M
$23M
·
$18M
Inventory
$48M
$51M
$55M
$55M
$30M
$31M
$33M
$33M
$33M
$29M
·
$20M
$18M
$17M
·
$18M
Prepaid Expense
$8M
$9M
$9M
$10M
$7M
$9M
$10M
$9M
$9M
$10M
·
$9M
$7M
$7M
·
$6M
Current Assets
$171M
$186M
$212M
$233M
$322M
$335M
$364M
$367M
$370M
$369M
·
$381M
$379M
$376M
·
$387M
PP&E (Net)
$20M
$21M
$24M
$26M
$16M
$16M
$17M
$18M
$18M
$17M
·
$18M
$18M
$19M
·
$21M
PP&E (Gross)
·
·
$49M
·
·
·
$36M
·
·
·
·
·
·
·
·
·
Accum. Depreciation
·
·
$26M
·
·
·
$19M
·
·
·
·
·
·
·
·
·
Goodwill
$0
$27M
$26M
$23M
$0
$7M
$0
·
·
·
·
$0
$0
$0
·
·
Intangibles
$106M
$109M
$132M
$135M
$16M
$17M
$4M
$5M
$5M
$5M
·
$6M
$6M
$7M
·
$8M
Other Non-current Assets
$4M
$5M
$5M
$4M
$3M
$3M
$3M
$2M
$2M
$2M
·
$2M
$2M
$1M
·
$1M
Total Assets
$320M
$367M
$419M
$444M
$376M
$397M
$407M
$411M
$416M
$414M
·
$429M
$429M
$427M
·
$447M
Accounts Payable
$9M
$9M
$14M
$11M
$9M
$7M
$7M
$6M
$7M
$4M
·
$5M
$3M
$3M
·
$2M
Current Liabilities
$50M
$50M
$75M
$77M
$48M
$40M
$42M
$36M
$38M
$33M
·
$35M
$32M
$27M
·
$29M
Capital Leases
$26M
$27M
$29M
$31M
$30M
$31M
$33M
$34M
$35M
$36M
·
$38M
$39M
$40M
·
$42M
Other Non-current Liabilities
$701.0K
$883.0K
$8M
$7M
$794.0K
$822.0K
$800.0K
$956.0K
$1M
$1M
·
$1M
$1M
$1M
·
$2M
Total Liabilities
$82M
$85M
$123M
$130M
$83M
$80M
$76M
$72M
$75M
$71M
·
$76M
$74M
$70M
·
$74M
Common Stock
$47.0K
$47.0K
$47.0K
$47.0K
$39.0K
$39.0K
$39.0K
$39.0K
$38.0K
$38.0K
·
$38.0K
$37.0K
$37.0K
·
$37.0K
Retained Earnings
$-644M
$-595M
$-577M
$-554M
$-521M
$-491M
$-470M
$-458M
$-450M
$-443M
·
$-422M
$-414M
$-408M
·
$-384M
AOCI
$-1M
$-1M
$-723.0K
$-818.0K
$-928.0K
$-2M
$-3M
$-1M
$-3M
$-3M
·
$-3M
$-3M
$-3M
·
$-3M
Stockholders' Equity
$237M
$282M
$296M
$315M
$292M
$316M
$330M
$339M
$341M
$343M
$350M
$353M
$355M
$357M
$358M
$373M
Liabilities + Equity
$320M
$367M
$419M
$444M
$376M
$397M
$407M
$411M
$416M
$414M
·
$429M
$429M
$427M
·
$447M
Shares Outstanding
47,135,000
47,061,000
46,744,000
46,683,000
38,873,000
38,801,000
38,573,000
38,475,000
38,398,000
38,288,000
·
37,839,000
37,566,000
37,423,981
·
37,093,601
Cash Flow11
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
$6M
$6M
$6M
$5M
$2M
$2M
$2M
$2M
$2M
$2M
$1M
$2M
$1M
$1M
$1M
$1M
Stock-based Comp
$4M
$5M
$4M
$5M
$5M
$5M
$5M
$5M
$5M
$5M
$4M
$4M
$4M
$4M
$4M
$3M
Amort. of Intangibles
$3M
$3M
$3M
$3M
$600.0K
$600.0K
$-1M
$1M
$400.0K
·
·
·
·
·
·
·
Restructuring
·
·
$400.0K
$6M
$1M
·
·
·
·
·
·
·
$0
$-33.0K
·
$3M
Other Non-cash
·
$-11M
·
·
·
$-1M
·
·
·
·
·
·
·
$-9M
·
·
Operating Cash Flow
$-5M
$-18M
$-16M
$-41M
$-6M
$-14M
$-4M
$-6M
$-5M
$-20M
$-6M
$-4M
$711.0K
$-10M
$-4M
$-15M
CapEx
$96.0K
$87.0K
$-98.0K
$677.0K
$777.0K
$1M
$412.0K
$851.0K
$2M
$506.0K
$2M
$1M
$811.0K
$136.0K
$1M
$4M
Investing Cash Flow
$14M
$25M
$8M
$-53M
$62M
$33M
$32M
$-12M
$7M
$-109M
$-21M
$-126M
$-811.0K
$-136.0K
$-1M
$-4M
Financing Cash Flow
$-527.0K
$-770.0K
$-522.0K
$150.0K
$-429.0K
$93.0K
$41.0K
$144.0K
$-328.0K
$599.0K
$201.0K
$2M
$139.0K
$551.0K
$714.0K
$407.0K
Net Change in Cash
·
·
·
·
·
·
·
·
·
·
·
·
·
·
·
$-18M
Free Cash Flow
·
$-18M
·
·
·
$-15M
·
·
·
$-21M
·
·
·
$-10M
·
·
Profitability8
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
38.5%
42.8%
·
42.8%
46.2%
54.1%
·
56.3%
64.7%
57.8%
·
56.8%
61.7%
59.5%
·
41.1%
Operating Margin
-150.2%
-113.6%
·
-92.8%
-151.6%
-86.9%
·
-32.8%
-31.8%
-47.3%
·
-44.0%
-30.8%
-33.1%
·
-137.4%
Net Margin
-148.7%
-48.2%
·
-83.3%
-122.6%
-67.6%
·
-23.3%
·
·
·
-24.8%
-19.5%
-21.4%
·
-131.6%
Pretax Margin
-148.9%
-48.2%
·
-89.5%
-122.9%
-77.2%
·
-22.9%
-21.1%
-34.2%
·
-24.1%
-18.8%
-21.0%
·
-131.3%
EBITDA Margin
-150.2%
-98.2%
·
-92.8%
-151.6%
-79.7%
·
-32.8%
-31.8%
-42.5%
·
-44.0%
-30.8%
-28.1%
·
-137.4%
ROA
-14.1%
-4.6%
·
-7.8%
-7.6%
-5.1%
·
-2.0%
·
·
·
-1.8%
-1.3%
-1.3%
·
-7.3%
ROE
-18.5%
-5.9%
·
-10.3%
-9.5%
-6.2%
·
-2.4%
·
·
·
-2.1%
-1.6%
-1.6%
·
-8.5%
ROIC
-20.8%
-14.6%
·
-11.1%
-12.7%
-7.3%
·
-3.5%
-3.3%
-4.5%
·
-4.0%
-2.8%
-2.7%
·
-9.8%
Liquidity & Solvency2
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
3.4
3.7
·
3.0
6.7
8.3
·
10.1
9.7
11.3
·
10.8
11.9
14.0
·
13.5
Quick Ratio
1.3
1.3
·
0.9
3.2
2.6
·
1.7
2.1
2.3
·
6.4
11.1
13.1
·
12.7
Efficiency3
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
·
0.1
Inventory Turnover
0.5
0.5
·
0.5
0.4
0.5
·
0.6
0.5
0.6
·
0.7
0.6
0.6
·
0.8
Receivables Turnover
1.4
1.3
·
1.3
0.9
1.1
·
1.3
1.2
1.2
·
1.5
1.4
1.3
·
1.4
Per Share5
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
Book Value / Share
$5.03
$6.00
·
$6.74
$7.52
$8.15
·
$8.81
$8.87
$8.97
·
$9.34
$9.46
$9.55
·
$10.05
Revenue / Share
$0.70
$0.78
·
$0.87
$0.63
$0.78
·
$0.93
$0.90
$0.84
·
$0.83
$0.83
$0.76
·
$0.72
Cash Flow / Share
·
$-0.39
·
·
·
$-0.36
·
·
·
$-0.53
·
·
·
$-0.25
·
·
Cash / Share
$0.94
$0.77
·
$0.82
$3.42
$1.97
·
$0.76
$1.22
$1.18
·
$5.32
$8.77
$8.80
·
$9.27
EPS (TTM)
$-2.62
$-2.35
·
$-2.33
$-1.82
$-1.24
·
$-0.93
$-0.89
$-0.85
·
$-1.10
$-1.91
$-2.49
·
$-2.70
Valuation (TTM)9
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
$153M
$145M
·
$130M
$126M
$136M
·
$134M
$130M
$126M
·
$117M
$112M
$104M
·
$110M
Net Income TTM
$-123M
$-104M
·
$-96M
$-70M
$-48M
·
$-36M
$-34M
$-32M
·
$-41M
$-71M
$-92M
·
$-99M
Market Cap
$204M
$166M
·
$253M
$259M
$253M
·
$499M
$507M
$902M
·
$1.03B
$847M
$422M
·
$409M
P/E
-1.6
-1.5
·
-2.3
-3.7
-5.2
·
-13.9
-14.8
-27.7
·
-24.7
-11.8
-4.5
·
-4.1
P/S
1.3
1.1
·
1.9
2.1
1.9
·
3.7
3.9
7.2
·
8.8
7.6
4.0
·
3.7
P/B
0.9
0.6
·
0.8
0.9
0.8
·
1.5
1.5
2.6
·
2.9
2.4
1.2
·
1.1
P / Tangible Book
1.5
1.1
·
1.6
0.9
0.9
·
1.5
1.5
2.7
·
3.0
2.4
1.2
·
1.1
P / Cash Flow
·
-9.1
·
·
·
-18.2
·
·
·
-44.7
·
·
·
-44.4
·
·
Earnings Yield
-60.7%
-66.8%
·
-42.9%
-27.4%
-19.1%
·
-7.2%
-6.7%
-3.6%
·
-4.0%
-8.5%
-22.1%
·
-24.5%
Most recent period on the left · null values shown as ·
Financial Statements
Income statement, balance sheet, cash flow — annual, last 5 years
16
Metric
2025-12-31
2024-12-31
2023-12-31
2023-09-30
2023-06-30
Revenue
$139M
$137M
$122M
·
·
Gross Margin %
46.8%
·
60.7%
·
·
Operating Margin %
-90.4%
·
-37.6%
·
·
Net Income
$-107M
$-39M
$-28M
·
·
Diluted EPS
$-2.51
$-1.00
$-0.75
·
·
Metric
2025-12-31
2024-12-31
2023-12-31
2023-09-30
2023-06-30
Current Ratio
2.8
·
·
·
·
Quick Ratio
0.8
·
·
·
·
Metric
2025-12-31
2024-12-31
2023-12-31
2023-09-30
2023-06-30
Free Cash Flow
$-80M
·
$-23M
·
·
Institutional owners (13F)
144 filers
· $145.5M total
· As of June 30, 2026
17
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.
Holders144
Value held$145.5M
New positions39
Exited positions31
Institutional activity — Q2 2026 vs prior quarter
New positions
Exited positions
Increased
Decreased
Net shares change
39 (+16 vs prior Q)
31 (+11 vs prior Q)
44 (-5 vs prior Q)
29 (-5 vs prior Q)
-4.6M
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.
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
Kent Lake Partners LP, Kent Lake PR LLC, Benjamin Natter, Alexander G. Dickinson, Bruce Felt, Hakan Sakul
×3 filings
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.
Company insiders
40 insiders
· 21 officers · 21 directors