RXRX Recursion Pharmaceuticals, Inc. - Class A Common Stock
$3.24
Price · Aug 19, 2026
Fundamentals as of Aug 5, 2026
52W Range
$3–$7
11% of range
Analyst Rating
BUY
13 analysts
Price Target
$7
+124% upside
P/E (TTM)
-2.3
ROE
-62.9%
Net Profit Margin
-863.4%
RXRX Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$3.24
Market Cap
$1.72B
P/E (TTM)
-2.3
EPS (TTM)
$-1.44
Revenue (TTM)
$75M
Div Yield
—
ROE
-62.9%
Debt/Equity
—
52W Range
$3 – $7
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10-Year Performance Revenue, net income, margins and EPS trends
Revenue & Net Income
$75M
2019-12-31
→
2025-12-31
EPS
$-1.44
2019-12-31
→
2025-12-31
Free Cash Flow
$-378M
2021-12-31
→
2025-12-31
Margins
-863.4%
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Metric
5Y trend
RXRX
Peer Median
P/E (TTM)
-2.3
27.2
P/S (TTM)
23.0
25.4
P/B
1.5
5.1
Price / FCF
-4.5
—
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Metric
5Y trend
RXRX
Peer Median
Operating Margin
-867.9%
—
Net Profit Margin
-863.4%
-473.7%
ROA
-44.1%
-40.2%
ROE
-62.9%
-50.4%
ROIC
-57.3%
—
Financial Health Debt, liquidity, solvency — balance sheet strength
Metric
5Y trend
RXRX
Peer Median
Current Ratio
5.5
9.0
Quick Ratio
5.0
—
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Metric
5Y trend
RXRX
Peer Median
Revenue YoY
26.9%
—
Revenue CAGR 3Y
23.3%
—
Revenue CAGR 5Y
79.9%
—
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
Metric
5Y trend
RXRX
Peer Median
RXRX Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
BUY
13 analysts
- Strong Buy 2 15.4%
- Buy 6 46.2%
- Hold 5 38.5%
- Sell 0 0.0%
- Strong Sell 0 0.0%
12-Month Price Target
6 analysts · 2026-08-15
Median
$7.00
← Below all targets
$3.24
Low
$4.00
High
$10.00
Median target
$7.00
+116.0%
Mean target
$7.25
+123.8%
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
0.03%
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| June 30, 2026 | $-0.25 | $-0.24 | -0.01% |
| March 31, 2026 | $-0.22 | $-0.28 | 0.06% |
| Dec. 31, 2025 | $-0.21 | $-0.32 | 0.11% |
| Sept. 30, 2025 | $-0.36 | $-0.38 | 0.02% |
| June 30, 2025 | $-0.41 | $-0.36 | -0.05% |
| March 31, 2025 | $-0.50 | $-0.54 | 0.04% |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| RXRX | $2.16B | -2.8 | 26.9% | -863.4% | -62.9% | — |
| SNDX | $1.84B | -6.4 | 627.8% | -165.6% | -257.1% | — |
| ANAB | — | -105.4 | 157.0% | — | — | — |
| NTLA | $1.05B | -2.4 | 16.9% | -609.8% | -59.5% | — |
| FBRX | $353M | -5.8 | 106.6% | -2555.2% | -86.9% | — |
| ZYME | $1.97B | -24.4 | 38.9% | -76.6% | -26.9% | — |
| BCAX | $953M | -6.7 | — | — | -33.0% | — |
| TYRA | $1.41B | -13.1 | — | — | -42.7% | — |
| XNCR | $1.10B | -12.3 | 13.7% | -73.2% | -14.0% | — |
| JBIO | $761M | -4.8 | — | — | -47.7% | — |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement 16
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $75M | $59M | $45M | $40M | $10M | $4M | $2M | |
| Cost of Revenue | $71M | $45M | $43M | $48M | $0 | $0 | · | |
| R&D Expense | $475M | $314M | $241M | $156M | $135M | $63M | $46M | |
| SG&A Expense | $177M | $178M | $111M | $82M | $58M | $25M | $19M | |
| Operating Expenses | $723M | $538M | $395M | $286M | $193M | $89M | $65M | |
| Operating Income | $-648M | $-479M | $-350M | $-246M | $-183M | $-85M | $-62M | |
| Interest Expense | · | · | $97.0K | $55.0K | $3M | $1M | $635.0K | |
| Other Non-op | $3M | $14M | $18M | $6M | $-4M | $-2M | $562.0K | |
| Pretax Income | $-645M | $-465M | $-332M | $-239M | $-186M | · | · | |
| Income Tax | $-136.0K | $-1M | $-4M | $0 | $0 | $0 | $0 | |
| Net Income | $-645M | $-464M | $-328M | $-239M | $-186M | $-87M | $-62M | |
| EPS (Basic) | $-1.44 | $-1.69 | $-1.58 | $-1.36 | $-1.49 | $-3.99 | $-2.87 | |
| EPS (Diluted) | $-1.44 | $-1.69 | $-1.58 | $-1.36 | $-1.49 | $-3.99 | $-2.87 | |
| Shares (Basic) | 447,446,109 | 274,207,146 | 207,853,702 | 175,537,487 | 125,348,110 | 21,781,386 | 21,570,265 | |
| Shares (Diluted) | 447,446,109 | 274,207,146 | 207,853,702 | 175,537,487 | 125,348,110 | 21,781,386 | 21,570,265 | |
| EBITDA | $-564M | $-443M | $-326M | $-234M | $-174M | · | · |
Balance Sheet 30
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $743M | $594M | $392M | $550M | $285M | $262M | · | |
| Short-term Investments | · | · | · | $0 | $231M | $0 | · | |
| Receivables | · | · | · | $0 | $34.0K | $156.0K | · | |
| Prepaid Expense | $12M | $30M | · | · | · | · | · | |
| Other Current Assets | $29M | $38M | $40M | $16M | $8M | $2M | · | |
| Current Assets | $813M | $714M | $438M | $570M | $535M | $266M | · | |
| PP&E (Net) | $104M | $141M | $87M | $88M | $65M | $26M | · | |
| PP&E (Gross) | $193M | $204M | $131M | $118M | $83M | $36M | · | |
| Accum. Depreciation | $89M | $63M | $45M | $30M | $19M | $10M | · | |
| Goodwill | $162M | $149M | $52M | $801.0K | $801.0K | $801.0K | · | |
| Intangibles | $310M | $336M | $36M | $1M | $1M | $2M | · | |
| Other Non-current Assets | $13M | $9M | $261.0K | $0 | $35.0K | $650.0K | · | |
| Total Assets | $1.47B | $1.45B | $654M | $701M | $610M | $299M | · | |
| Accounts Payable | $18M | $22M | $4M | $5M | $3M | $1M | · | |
| Accrued Liabilities | $70M | $82M | $47M | $33M | $32M | $10M | · | |
| Short-term Debt | · | · | $41.0K | $97.0K | $90.0K | $1M | · | |
| Current Liabilities | $148M | $187M | $93M | $100M | $47M | $23M | · | |
| Capital Leases | $47M | $67M | $43M | $44M | $0 | · | · | |
| Deferred Tax | $23M | $17M | $1M | $0 | · | · | · | |
| Other Non-current Liabilities | $2M | $5M | $0 | · | · | · | · | |
| Total Liabilities | $343M | $414M | $190M | $215M | $67M | $57M | · | |
| Long-term Debt | · | · | · | · | $723.0K | · | · | |
| Total Debt | · | · | $41.0K | $97.0K | $90.0K | · | · | |
| Common Stock | $5.0K | $4.0K | $2.0K | $2.0K | $2.0K | $0 | · | |
| Paid-in Capital | $3.17B | $2.47B | $1.43B | $1.13B | $943M | $7M | · | |
| Retained Earnings | $-2.08B | $-1.43B | $-968M | $-640M | $-400M | $-214M | · | |
| AOCI | $37M | $-8M | $0 | $0 | $-126.0K | $0 | · | |
| Stockholders' Equity | $1.13B | $1.03B | $463M | $486M | $543M | $-206M | $-124M | |
| Liabilities + Equity | $1.47B | $1.45B | $654M | $701M | $610M | $299M | · | |
| Shares Outstanding | 528,182,693 | 396,802,394 | 234,270,384 | 191,022,864 | 170,272,462 | 22,314,685 | 21,637,609 |
Cash Flow 17
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| D&A | $84M | $36M | $24M | $12M | $8M | $4M | $2M | |
| Stock-based Comp | $111M | $82M | $54M | $28M | $15M | $4M | $1M | |
| Deferred Tax | $-368.0K | $-2M | $-4M | $0 | · | · | · | |
| Amort. of Intangibles | $50M | $19M | $8M | $379.0K | $304.0K | $126.0K | $0 | |
| Restructuring | $10M | · | · | · | · | · | · | |
| Other Non-cash | $78M | $-12M | $-38M | $116M | $5M | · | · | |
| Operating Cash Flow | $-372M | $-359M | $-288M | $-84M | $-159M | $-45M | $-57M | |
| CapEx | $6M | $14M | $12M | $37M | $40M | $6M | $4M | |
| Investing Cash Flow | $-17M | $260M | $-10M | $193M | $-272M | $-9M | $-4M | |
| Net Debt Issued | · | · | $-766.0K | $-90.0K | $-13M | · | · | |
| Stock Issued | $529M | $300M | $128M | $144M | $463M | $0 | · | |
| Net Stock Activity | $529M | $300M | $128M | $144M | · | · | · | |
| Financing Cash Flow | $522M | $304M | $140M | $154M | $459M | $246M | $120M | |
| Net Change in Cash | $151M | $202M | $-158M | $264M | $28M | $192M | $59M | |
| Taxes Paid | $237.0K | $0 | · | · | · | · | · | |
| Free Cash Flow | $-378M | $-373M | $-300M | $-121M | $-198M | · | · | |
| Levered FCF | · | · | $-300M | · | · | · | · |
Profitability 7
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Operating Margin | -867.9% | -814.1% | -785.3% | -616.7% | -1795.8% | · | · | |
| Net Margin | -863.4% | -788.0% | -736.0% | -601.1% | -1832.2% | · | · | |
| Pretax Margin | -863.5% | -789.9% | -745.1% | · | · | · | · | |
| EBITDA Margin | -755.8% | -752.1% | -730.6% | -587.2% | -1713.2% | · | · | |
| ROA | -44.1% | -44.1% | -48.4% | -36.5% | -41.0% | · | · | |
| ROE | -62.9% | -59.5% | -72.8% | -54.8% | -32.7% | · | · | |
| ROIC | -57.3% | -46.2% | -74.6% | · | · | · | · |
Liquidity & Solvency 4
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Current Ratio | 5.5 | 3.8 | 4.7 | 5.7 | 11.5 | · | · | |
| Quick Ratio | 5.0 | 3.2 | 4.2 | 5.5 | 11.1 | · | · | |
| Debt / Equity | · | · | 0.0 | 0.0 | 0.0 | · | · | |
| Interest Coverage | · | · | -3608.9 | -4467.8 | -61.9 | · | · |
Efficiency 2
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.1 | 0.1 | 0.1 | 0.1 | 0.0 | · | · | |
| Receivables Turnover | · | · | · | 2343.7 | 107.1 | · | · |
Growth Rates 3
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Revenue YoY | 26.9% | 32.0% | 11.9% | 291.5% | 156.9% | · | · | |
| Revenue CAGR 3Y | 23.3% | 79.5% | 124.1% | · | · | · | · | |
| Revenue CAGR 5Y | 79.9% | · | · | · | · | · | · |
Valuation (TTM) 14
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $75M | $59M | $45M | $40M | $10M | · | · | |
| Net Income TTM | $-645M | $-464M | $-328M | $-239M | $-186M | · | · | |
| Market Cap | $2.16B | $2.68B | $2.31B | $1.47B | $2.92B | · | · | |
| Enterprise Value | · | · | $1.92B | $923M | $2.40B | · | · | |
| P/E | -2.8 | -4.0 | -6.2 | -5.7 | -11.5 | · | · | |
| P/S | 28.9 | 45.6 | 51.8 | 37.0 | 286.6 | · | · | |
| P/B | 1.9 | 2.6 | 5.0 | 3.0 | 5.4 | · | · | |
| P / Tangible Book | 3.3 | 4.9 | 6.2 | 3.0 | 5.4 | · | · | |
| P / Cash Flow | -5.8 | -7.5 | -8.0 | -17.6 | -18.4 | · | · | |
| P / FCF | -5.7 | -7.2 | -7.7 | -12.2 | -14.7 | · | · | |
| EV / EBITDA | · | · | -5.9 | -3.9 | -13.8 | · | · | |
| EV / FCF | · | · | -6.4 | -7.7 | -12.1 | · | · | |
| EV / Revenue | · | · | 43.0 | 23.2 | 235.8 | · | · | |
| Earnings Yield | -35.2% | -25.0% | -16.0% | -17.6% | -8.7% | · | · |
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 | $8M | $6M | $36M | $5M | $19M | $15M | $5M | $26M | $14M | $14M | $11M | $11M | $11M | $12M | $14M | $13M | |
| Cost of Revenue | $11M | $12M | $14M | $15M | $20M | $22M | $13M | $12M | $9M | $11M | $10M | $11M | $9M | $12M | $11M | $15M | |
| R&D Expense | $90M | $88M | $96M | $121M | $129M | $130M | $98M | $75M | $74M | $68M | $69M | $70M | $55M | $47M | $44M | $41M | |
| SG&A Expense | $42M | $35M | $34M | $42M | $47M | $55M | $77M | $38M | $32M | $31M | $30M | $29M | $28M | $23M | $20M | $19M | |
| Operating Expenses | $143M | $135M | $144M | $177M | $195M | $206M | $188M | $124M | $115M | $110M | $110M | $110M | $93M | $82M | $75M | $76M | |
| Operating Income | $-135M | $-129M | $-108M | $-172M | $-176M | $-191M | $-184M | $-98M | $-101M | $-96M | $-99M | $-100M | $-82M | $-70M | $-61M | $-63M | |
| Interest Expense | · | · | · | · | · | · | · | · | · | $20.0K | · | $25.0K | $26.0K | $19.0K | · | $13.0K | |
| Other Non-op | $4M | $6M | $232.0K | $10M | $4M | $-11M | $5M | $3M | $2M | $4M | $2M | $7M | $5M | $5M | $3M | $2M | |
| Pretax Income | $-131M | $-122M | $-108M | $-162M | $-172M | $-203M | $-179M | $-96M | $-98M | $-92M | $-97M | $-93M | $-77M | $-65M | · | · | |
| Income Tax | $-1.0K | $-5M | $19.0K | $3.0K | $0 | $-158.0K | $8.0K | $167.0K | $-523.0K | $-779.0K | $-4M | $0 | $0 | $0 | $0 | $0 | |
| Net Income | $-131M | $-118M | $-108M | $-162M | $-172M | $-202M | $-179M | $-96M | $-98M | $-91M | $-93M | $-93M | $-77M | $-65M | $-57M | $-60M | |
| EPS (Basic) | $-0.25 | $-0.22 | $-0.17 | $-0.36 | $-0.41 | $-0.50 | $-0.56 | $-0.34 | $-0.40 | $-0.39 | $-0.43 | $-0.43 | $-0.38 | $-0.34 | $-0.30 | $-0.35 | |
| EPS (Diluted) | $-0.25 | $-0.22 | $-0.17 | $-0.36 | $-0.41 | $-0.50 | $-0.56 | $-0.34 | $-0.40 | $-0.39 | $-0.43 | $-0.43 | $-0.38 | $-0.34 | $-0.30 | $-0.35 | |
| Shares (Basic) | 532,460,085 | 529,303,984 | -819,675,056 | 446,988,046 | 417,361,147 | 402,771,972 | -486,591,660 | 282,583,048 | 242,196,409 | 236,019,349 | -399,507,197 | 214,327,186 | 201,415,475 | 191,618,238 | -340,801,265 | 173,435,970 | |
| Shares (Diluted) | 532,460,085 | 529,303,984 | -819,675,056 | 446,988,046 | 417,361,147 | 402,771,972 | -486,591,660 | 282,583,048 | 242,196,409 | 236,019,349 | -399,507,197 | 214,327,186 | 201,415,475 | 191,618,238 | -340,801,265 | 173,435,970 | |
| EBITDA | $-135M | $-109M | · | $-172M | $-176M | $-172M | · | $-98M | $-101M | $-89M | · | $-100M | $-82M | $-66M | · | $-63M |
Balance Sheet 29
| 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 | $546M | $654M | $743M | $660M | $525M | $500M | $594M | $428M | $474M | $296M | · | $387M | $406M | $473M | · | $455M | |
| Short-term Investments | · | · | · | · | · | · | · | · | · | · | · | · | · | · | · | $0 | |
| Receivables | · | · | · | · | · | · | · | · | · | · | · | · | · | · | · | $0 | |
| Prepaid Expense | $9M | $12M | $12M | $0 | $0 | $2M | $30M | · | · | · | · | · | · | · | · | · | |
| Other Current Assets | $29M | $24M | $29M | $29M | $37M | $32M | $38M | $43M | $44M | $41M | · | $18M | $19M | $16M | · | $13M | |
| Current Assets | $603M | $710M | $813M | $714M | $587M | $584M | $714M | $474M | $522M | $344M | · | $411M | $431M | $492M | · | $482M | |
| PP&E (Net) | $90M | $96M | $104M | $112M | $120M | $127M | $141M | $84M | $84M | $87M | · | $86M | $90M | $90M | · | $86M | |
| PP&E (Gross) | · | · | $193M | · | · | · | $204M | $141M | $136M | $136M | · | $127M | $127M | $124M | · | $113M | |
| Accum. Depreciation | · | · | $89M | · | · | · | $63M | $56M | $52M | $49M | · | $41M | $38M | $34M | · | $27M | |
| Goodwill | $160M | $160M | $162M | $162M | $164M | $158M | $149M | $52M | $52M | $52M | $52M | $53M | $61M | $801.0K | $801.0K | $801.0K | |
| Intangibles | $283M | $294M | $310M | $322M | $341M | $336M | $336M | $34M | $38M | $33M | · | $39M | $43M | $1M | · | $1M | |
| Other Non-current Assets | $12M | $12M | $13M | $15M | $9M | $15M | $9M | $360.0K | $308.0K | $254.0K | · | $155.0K | $110.0K | $82.0K | · | $0 | |
| Total Assets | $1.21B | $1.34B | $1.47B | $1.40B | $1.30B | $1.31B | $1.45B | $726M | $776M | $558M | · | $631M | $667M | $627M | · | $612M | |
| Accounts Payable | $13M | $20M | $18M | $14M | $19M | $25M | $22M | $2M | $4M | $5M | · | $4M | $2M | $4M | · | $4M | |
| Accrued Liabilities | $57M | $54M | $70M | $53M | $64M | $57M | $82M | $41M | $33M | $26M | · | $40M | $33M | $25M | · | $27M | |
| Short-term Debt | · | · | · | · | · | · | · | · | · | $55.0K | · | $695.0K | $676.0K | $661.0K | · | $95.0K | |
| Current Liabilities | $120M | $130M | $148M | $155M | $164M | $142M | $187M | $109M | $86M | $74M | · | $94M | $114M | $92M | · | $83M | |
| Capital Leases | $39M | $43M | $47M | $50M | $53M | $56M | $67M | $54M | $50M | $44M | · | $44M | $46M | $47M | · | $46M | |
| Deferred Tax | $18M | $18M | $23M | $23M | $24M | $22M | $17M | $168.0K | $0 | $528.0K | · | $2M | $4M | · | · | · | |
| Other Non-current Liabilities | $3M | $2M | $2M | $1M | $2M | $5M | $5M | $3M | $3M | · | · | · | · | · | · | · | |
| Total Liabilities | $298M | $315M | $343M | $353M | $383M | $371M | $414M | $202M | $191M | $157M | · | $193M | $198M | $197M | · | $223M | |
| Total Debt | · | · | · | · | · | · | · | · | · | $55.0K | · | $695.0K | $676.0K | $661.0K | · | $95.0K | |
| Common Stock | $5.0K | $5.0K | $5.0K | $5.0K | $4.0K | $4.0K | $4.0K | $3.0K | $3.0K | $2.0K | · | $2.0K | $2.0K | $2.0K | · | $2.0K | |
| Paid-in Capital | $3.21B | $3.19B | $3.17B | $2.98B | $2.68B | $2.55B | $2.47B | $1.78B | $1.74B | $1.46B | · | $1.31B | $1.25B | $1.14B | · | $970M | |
| Retained Earnings | $-2.32B | $-2.19B | $-2.08B | $-1.97B | $-1.81B | $-1.63B | $-1.43B | $-1.25B | $-1.16B | $-1.06B | · | $-875M | $-782M | $-705M | · | $-582M | |
| AOCI | $28M | $27M | $37M | $34M | $44M | $14M | $-8M | · | · | · | · | · | · | · | · | $0 | |
| Stockholders' Equity | $915M | $1.02B | $1.13B | $1.05B | $919M | $934M | $1.03B | $525M | $584M | $401M | $463M | $438M | $469M | $430M | $486M | $388M | |
| Liabilities + Equity | $1.21B | $1.34B | $1.47B | $1.40B | $1.30B | $1.31B | $1.45B | $726M | $776M | $558M | · | $631M | $667M | $627M | · | $612M | |
| Shares Outstanding | 534,120,235 | 530,628,653 | 528,182,693 | 491,800,501 | 432,830,642 | 406,410,733 | 396,802,394 | 286,124,279 | 280,968,276 | 237,508,682 | 234,270,384 | 216,313,682 | 206,737,332 | 192,230,854 | 191,022,864 | 174,072,906 |
Cash Flow 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $18M | $20M | $19M | $21M | $24M | $19M | $13M | $7M | $9M | $7M | $8M | $8M | $6M | $4M | $3M | $3M | |
| Stock-based Comp | $19M | $22M | $24M | $25M | $26M | $36M | $31M | $18M | $17M | $16M | $16M | $17M | $12M | $9M | $8M | $9M | |
| Deferred Tax | $-3.0K | $-5M | · | · | $638.0K | $-419.0K | · | · | · | · | · | · | · | · | · | · | |
| Amort. of Intangibles | $12M | $13M | $13M | $13M | $12M | $12M | $7M | $4M | $4M | $3M | $3M | $3M | $2M | $152.0K | $151.0K | $76.0K | |
| Restructuring | · | · | $1M | $73.0K | · | · | · | · | · | · | · | · | · | · | · | · | |
| Other Non-cash | · | $-888.0K | · | · | · | $15M | · | · | · | $-34M | · | · | · | $-21M | · | · | |
| Operating Cash Flow | $-106M | $-81M | $-46M | $-117M | $-76M | $-132M | $-115M | $-59M | $-82M | $-102M | $-74M | $-73M | $-67M | $-73M | $-45M | $-55M | |
| CapEx | $44.0K | $258.0K | $1M | $243.0K | $3M | $2M | $1M | $5M | $1M | $7M | $2M | $745.0K | $4M | $5M | $8M | $8M | |
| Investing Cash Flow | $-2M | $-338.0K | $-1M | $-3M | $-6M | $-7M | $275M | $-5M | $-4M | $-7M | $-2M | $-347.0K | $-2M | $-5M | $-8M | $53M | |
| Net Debt Issued | · | · | · | · | · | · | · | · | · | $-26.0K | · | · | · | $-24.0K | · | · | |
| Stock Issued | $0 | $0 | $133M | $254M | $100M | $41M | $11M | $17M | $262M | $11M | $78M | $50M | $0 | $0 | · | · | |
| Net Stock Activity | · | $0 | · | · | · | $41M | · | · | · | $11M | · | · | · | · | · | · | |
| Financing Cash Flow | $-1M | $-3M | $132M | $251M | $98M | $41M | $11M | $16M | $263M | $14M | $81M | $54M | $4M | $2M | $147M | $2M | |
| Net Change in Cash | $-108M | $-89M | $87M | $133M | $25M | $-94M | $167M | $-47M | $177M | $-95M | $4M | $-20M | $-66M | $-77M | $94M | $780.0K | |
| Free Cash Flow | · | $-81M | · | · | · | $-134M | · | · | · | $-109M | · | · | · | $-78M | · | · | |
| Levered FCF | · | · | · | · | · | · | · | · | · | $-109M | · | · | · | · | · | · |
Profitability 7
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | -1759.7% | -1985.5% | · | -3327.6% | -916.8% | -1297.9% | · | -377.1% | -697.4% | -698.4% | · | -945.1% | -741.7% | -575.8% | · | -475.5% | |
| Net Margin | -1708.0% | -1815.6% | · | -3135.3% | -894.2% | -1373.3% | · | -367.5% | -676.6% | -662.4% | · | -883.1% | -696.4% | -538.4% | · | -459.3% | |
| Pretax Margin | -1708.0% | -1886.7% | · | -3135.3% | -894.2% | -1374.3% | · | -366.8% | -680.2% | -668.1% | · | · | · | · | · | · | |
| EBITDA Margin | -1759.7% | -1681.6% | · | -3327.6% | -916.8% | -1166.8% | · | -377.1% | -697.4% | -644.9% | · | -945.1% | -741.7% | -545.1% | · | -475.5% | |
| ROA | -10.4% | -8.9% | · | -15.3% | -16.5% | -21.7% | · | -14.1% | -13.5% | -15.4% | · | -15.0% | -11.5% | -9.6% | · | -9.5% | |
| ROE | -14.3% | -12.0% | · | -20.6% | -22.9% | -30.3% | · | -19.9% | -18.5% | -22.0% | · | -22.5% | -16.9% | -14.1% | · | -12.2% | |
| ROIC | -14.8% | -12.1% | · | -16.4% | -19.2% | -20.5% | · | -18.8% | -17.1% | -23.8% | · | · | · | · | · | · |
Liquidity & Solvency 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 5.0 | 5.5 | · | 4.6 | 3.6 | 4.1 | · | 4.4 | 6.1 | 4.6 | · | 4.4 | 3.8 | 5.3 | · | 5.8 | |
| Quick Ratio | 4.6 | 5.0 | · | 4.3 | 3.2 | 3.5 | · | 3.9 | 5.5 | 4.0 | · | 4.1 | 3.6 | 5.1 | · | 5.5 | |
| Debt / Equity | · | · | · | · | · | · | · | · | · | 0.0 | · | 0.0 | 0.0 | 0.0 | · | 0.0 | |
| Interest Coverage | · | · | · | · | · | · | · | · | · | -4817.0 | · | -3982.0 | -3142.9 | -3677.1 | · | -4813.3 |
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 | 0.0 | 0.0 | · | 0.0 | 0.0 | 0.0 | · | 0.0 | 0.0 | 0.0 | · | 0.0 | 0.0 | 0.0 | · | 0.0 | |
| Receivables Turnover | · | · | · | · | · | · | · | · | · | · | · | · | · | · | · | 774.1 |
Valuation (TTM) 14
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $39M | $46M | · | $65M | $74M | $69M | · | $65M | $50M | $47M | · | $47M | $44M | $38M | · | $29M | |
| Net Income TTM | $-583M | $-654M | · | $-632M | $-568M | $-487M | · | $-378M | $-359M | $-326M | · | $-296M | $-268M | $-247M | · | $-229M | |
| Market Cap | $1.96B | $1.63B | · | $2.40B | $2.19B | $2.15B | · | $1.89B | $2.11B | $2.37B | · | $1.65B | $1.54B | $1.28B | · | $1.85B | |
| Enterprise Value | · | · | · | · | · | · | · | · | · | $2.07B | · | $1.27B | $1.14B | $810M | · | $1.40B | |
| P/E | -3.0 | -2.1 | · | -3.0 | -3.1 | -3.2 | · | -4.2 | -4.7 | -6.5 | · | -5.1 | -5.2 | -4.8 | · | -7.9 | |
| P/S | 50.9 | 35.7 | · | 36.8 | 29.4 | 31.1 | · | 29.1 | 42.3 | 49.9 | · | 35.3 | 35.1 | 33.5 | · | 64.5 | |
| P/B | 2.1 | 1.6 | · | 2.3 | 2.4 | 2.3 | · | 3.6 | 3.6 | 5.9 | · | 3.8 | 3.3 | 3.0 | · | 4.8 | |
| P / Tangible Book | 4.2 | 2.9 | · | 4.3 | 5.3 | 4.9 | · | 4.3 | 4.3 | 7.5 | · | 4.8 | 4.2 | 3.0 | · | 4.8 | |
| P / Cash Flow | · | -20.1 | · | · | · | -16.3 | · | · | · | -23.1 | · | · | · | -17.5 | · | · | |
| P / FCF | · | -20.0 | · | · | · | -16.1 | · | · | · | -21.7 | · | · | · | -16.3 | · | · | |
| EV / EBITDA | · | · | · | · | · | · | · | · | · | -23.3 | · | -12.7 | -13.9 | -12.2 | · | -22.3 | |
| EV / FCF | · | · | · | · | · | · | · | · | · | -19.0 | · | · | · | -10.3 | · | · | |
| EV / Revenue | · | · | · | · | · | · | · | · | · | 43.6 | · | 27.1 | 25.9 | 21.1 | · | 48.7 | |
| Earnings Yield | -33.8% | -48.5% | · | -33.0% | -32.6% | -30.8% | · | -23.7% | -21.3% | -15.4% | · | -19.6% | -19.4% | -21.0% | · | -12.6% |
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 | $75M | $59M | $45M | $40M | $10M |
| Operating Margin % | -867.9% | -814.1% | -785.3% | -616.7% | -1795.8% |
| Net Income | $-645M | $-464M | $-328M | $-239M | $-186M |
| Diluted EPS | $-1.44 | $-1.69 | $-1.58 | $-1.36 | $-1.49 |
Balance Sheet
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Debt / Equity | — | — | 0.0 | 0.0 | 0.0 |
| Current Ratio | 5.5 | 3.8 | 4.7 | 5.7 | 11.5 |
| Quick Ratio | 5.0 | 3.2 | 4.2 | 5.5 | 11.1 |
Cash Flow
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Free Cash Flow | $-378M | $-373M | $-300M | $-121M | $-198M |
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Institutional owners (13F) 377 filers · $1.1B 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 |
|---|---|---|---|---|
| 55 (-9 vs prior Q) | 37 (-6 vs prior Q) | 126 (-9 vs prior Q) | 98 (+22 vs prior Q) | +96.1M |
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 |
|---|---|---|---|---|
| ARK Investment Management LLC | $151,709,111 | 41,337,632 | 13.77% | Shares |
| STATE STREET CORP | $127,371,497 | 34,706,130 | 11.56% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $114,252,968 | 31,131,599 | 10.37% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $83,551,000 | 22,765,940 | 7.58% | Shares |
| BAILLIE GIFFORD & CO | $69,104,302 | 18,829,510 | 6.27% | Shares |
| Kinnevik AB (publ) | $65,558,755 | 13,434,171 | 5.95% | Shares |
| SOFTBANK GROUP CORP. | $50,046,010 | 13,636,515 | 4.54% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $43,471,211 | 11,842,727 | 3.95% | Shares |
| MIC Capital Management UK LLP | $35,393,601 | 9,644,033 | 3.21% | Shares |
| NORGES BANK | $25,079,070 | 6,833,534 | 2.28% | Shares |
| Data Collective IV GP, LLC | $21,803,910 | 5,941,120 | 1.98% | Shares |
| Sumitomo Mitsui Trust Group, Inc. | $20,227,891 | 5,511,687 | 1.84% | Shares |
| Amova Asset Management Americas, Inc. | $20,227,891 | 5,511,687 | 1.84% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $15,187,510 | 4,138,286 | 1.38% | Shares |
| DCVC Opportunity Fund II GP, LLC | $14,500,687 | 3,951,141 | 1.32% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $12,736,948 | 3,470,558 | 1.16% | Shares |
| TWO SIGMA INVESTMENTS, LP | $12,307,925 | 3,353,658 | 1.12% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $12,286,059 | 3,347,700 | 1.12% | Call option |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $12,082,110 | 3,292,128 | 1.10% | Shares |
| FIRST TRUST ADVISORS LP | $11,163,512 | 3,041,829 | 1.01% | Shares |
| GOLDMAN SACHS GROUP INC | $10,908,505 | 2,972,345 | 0.99% | Shares |
| IQ EQ FUND MANAGEMENT (IRELAND) Ltd | $9,557,843 | 2,604,317 | 0.87% | Shares |
| Lingotto Investment Management LLP | $8,098,446 | 2,206,661 | 0.73% | Shares |
| MILLENNIUM MANAGEMENT LLC | $6,733,577 | 1,834,762 | 0.61% | Shares |
| BANK OF AMERICA CORP /DE/ | $6,705,138 | 1,827,013 | 0.61% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $5,149,377 | 1,403,100 | 0.47% | Put option |
| CITADEL ADVISORS LLC | $4,779,808 | 1,302,400 | 0.43% | Call option |
| CITADEL ADVISORS LLC | $4,072,232 | 1,109,600 | 0.37% | Put option |
| Quadrature Capital Ltd | $3,625,219 | 987,798 | 0.33% | Shares |
| Swiss National Bank | $3,459,342 | 942,600 | 0.31% | Shares |
| Comprehensive Financial Management LLC | $3,456,755 | 941,895 | 0.31% | Shares |
| STIFEL FINANCIAL CORP | $3,226,950 | 879,271 | 0.29% | Shares |
| CITIGROUP INC | $3,063,966 | 834,868 | 0.28% | Shares |
| BlackRock, Inc. | $3,029,996 | 825,612 | 0.27% | Shares |
| GROUP ONE TRADING LLC | $2,873,738 | 783,035 | 0.26% | Shares |
| BNP PARIBAS ASSET MANAGEMENT Holding S.A. | $2,588,877 | 705,416 | 0.23% | Shares |
| Vestmark Advisory Solutions, Inc. | $2,558,691 | 697,191 | 0.23% | Shares |
| LAZARD ASSET MANAGEMENT LLC | $2,541,027 | 692,378 | 0.23% | Shares |
| DNB Asset Management AS | $2,517,257 | 685,901 | 0.23% | Shares |
| RHUMBLINE ADVISERS | $2,389,943 | 651,214 | 0.22% | Shares |
| Bank of New York Mellon Corp | $2,319,653 | 632,058 | 0.21% | Shares |
| Rafferty Asset Management, LLC | $2,251,956 | 613,612 | 0.20% | Shares |
| Pivotal bioVenture Partners Investment Advisor LLC | $2,185,551 | 595,518 | 0.20% | Shares |
| Nan Fung Group Holdings Ltd | $2,184,703 | 595,287 | 0.20% | Shares |
| JANE STREET GROUP, LLC | $2,140,344 | 583,200 | 0.19% | Call option |
| Man Group plc | $2,057,013 | 560,494 | 0.19% | Shares |
| Carroll Investors, Inc | $1,836,281 | 500,349 | 0.17% | Shares |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM | $1,764,136 | 574,637 | 0.16% | Shares |
| MORGAN STANLEY | $1,706,682 | 465,036 | 0.15% | Shares |
| Verition Fund Management LLC | $1,640,295 | 446,947 | 0.15% | Shares |
| Verition Fund Management LLC | $1,619,938 | 441,400 | 0.15% | Put option |
| VANGUARD ASSET MANAGEMENT, Ltd | $1,613,787 | 439,724 | 0.15% | Shares |
| TUDOR INVESTMENT CORP ET AL | $1,591,312 | 433,600 | 0.14% | Call option |
| LPL Financial LLC | $1,532,169 | 417,485 | 0.14% | Shares |
| Schonfeld Strategic Advisors LLC | $1,529,909 | 416,869 | 0.14% | Shares |
| AMERICAN CENTURY COMPANIES INC | $1,492,861 | 406,774 | 0.14% | Shares |
| ALLIANCEBERNSTEIN L.P. | $1,449,912 | 472,284 | 0.13% | Shares |
| Headlands Technologies LLC | $1,423,039 | 387,749 | 0.13% | Shares |
| Balyasny Asset Management L.P. | $1,297,936 | 353,661 | 0.12% | Shares |
| TWO SIGMA ADVISERS, LP | $1,284,035 | 313,945 | 0.12% | Shares |
| WOLVERINE TRADING, LLC | $1,147,958 | 233,800 | 0.10% | Call option |
| PROFUND ADVISORS LLC | $1,134,386 | 309,097 | 0.10% | Shares |
| MetLife Investment Management, LLC | $1,103,213 | 300,603 | 0.10% | Shares |
| COMMONWEALTH EQUITY SERVICES, LLC | $1,071,420 | 291,939 | 0.10% | Shares |
| LOS ANGELES CAPITAL MANAGEMENT LLC | $1,004,552 | 273,720 | 0.09% | Shares |
| JPMORGAN CHASE & CO | $992,743 | 269,036 | 0.09% | Shares |
| Zurcher Kantonalbank (Zurich Cantonalbank) | $979,461 | 266,883 | 0.09% | Shares |
| Universal- Beteiligungs- und Servicegesellschaft mbH | $945,605 | 257,658 | 0.09% | Shares |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE | $931,413 | 253,791 | 0.08% | Shares |
| ExodusPoint Capital Management, LP | $913,034 | 248,783 | 0.08% | Shares |
| STATE OF WISCONSIN INVESTMENT BOARD | $904,897 | 246,566 | 0.08% | Shares |
| XTX Topco Ltd | $901,418 | 245,618 | 0.08% | Shares |
| GUGGENHEIM CAPITAL LLC | $894,408 | 243,708 | 0.08% | Shares |
| VANGUARD GROUP INC | $845,890 | 206,819 | 0.08% | Shares |
| ALGERT GLOBAL LLC | $819,280 | 223,237 | 0.07% | Shares |
| CAPSTONE INVESTMENT ADVISORS, LLC | $816,127 | 222,378 | 0.07% | Shares |
| PEAK6 LLC | $807,400 | 220,000 | 0.07% | Shares |
| ALLEN OPERATIONS LLC | $798,801 | 217,657 | 0.07% | Shares |
| Vanguard Global Advisers, LLC | $758,806 | 206,759 | 0.07% | Shares |
| SBI Securities Co., Ltd. | $749,902 | 204,333 | 0.07% | Shares |
| Invesco Ltd. | $747,344 | 203,636 | 0.07% | Shares |
| ENVESTNET ASSET MANAGEMENT INC | $737,765 | 201,026 | 0.07% | Shares |
| Soviero Asset Management, LP | $734,000 | 200,000 | 0.07% | Shares |
| WOLVERINE TRADING, LLC | $714,896 | 145,600 | 0.06% | Put option |
| JANE STREET GROUP, LLC | $713,081 | 194,300 | 0.06% | Put option |
| WINTON GROUP Ltd | $707,576 | 192,800 | 0.06% | Shares |
| 180 WEALTH ADVISORS, LLC | $699,363 | 190,562 | 0.06% | Shares |
| JANUS HENDERSON GROUP PLC | $675,247 | 220,309 | 0.06% | Shares |
| UBS Group AG | $673,805 | 183,598 | 0.06% | Shares |
| Raiffeisen Bank International AG | $627,300 | 170,000 | 0.06% | Shares |
| BENJAMIN EDWARDS INC | $615,251 | 167,670 | 0.06% | Shares |
| Casdin Capital, LLC | $606,735 | 165,323 | 0.06% | Shares |
| PEAK6 LLC | $601,513 | 163,900 | 0.05% | Call option |
| SIMPLEX TRADING, LLC | $600,727 | 163,686 | 0.05% | Shares |
| Hudson Bay Capital Management LP | $587,200 | 160,000 | 0.05% | Shares |
| NEW YORK STATE COMMON RETIREMENT FUND | $559,950 | 152,575 | 0.05% | Shares |
| State of New Jersey Common Pension Fund D | $557,444 | 151,892 | 0.05% | Shares |
| Police & Firemen's Retirement System of New Jersey | $553,950 | 150,940 | 0.05% | Shares |
| Green Alpha Advisors, LLC | $541,486 | 147,544 | 0.05% | Shares |
| Private Advisory Group LLC | $536,958 | 146,310 | 0.05% | Shares |
Company insiders 19 insiders · 8 officers · 11 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Najat Khan | CEO and President | Aug. 17, 2026 F | 2,095,298 | 0 | 1 | $-84,459 |
| Ben R Taylor | Chief Financial Officer | Aug. 17, 2026 F | 1,076,858 | 0 | 0 | $0 |
| Michael Secora | Chief Financial Officer | Feb. 15, 2024 F | 1,179,179 | 0 | 0 | $0 |
| Tina Marriott Larson | President and COO | Feb. 15, 2024 F | 639,982 | 0 | 0 | $0 |
| David Hallett | Chief Scientific Officer | Aug. 17, 2026 F | 1,043,837 | 0 | 0 | $0 |
| David J Mauro | Chief Medical Officer | Feb. 9, 2024 A | 244,629 | 0 | 0 | $0 |
| Shafique Virani | Chief Business Officer | Jan. 16, 2024 M | 136,748 | 0 | 0 | $0 |
| Ramona Doyle | Chief Medical Officer | May 16, 2022 F | 121,110 | 0 | 0 | $0 |
| Zavain Dar | Director | July 1, 2026 A | 240,764 | 0 | 0 | $0 |
| Dean Y Li | Director | July 1, 2026 A | 1,473,329 | 0 | 0 | $0 |
| Namandje Bumpus | Director | June 18, 2026 S | 127,632 | 0 | 2 | $-28,128 |
| Franziska Michor | Director | June 17, 2026 A | 215,477 | 0 | 0 | $0 |
| Elaine D Sun | Director | June 17, 2026 A | 135,981 | 0 | 0 | $0 |
| Robert Hershberg | Director | June 17, 2026 A | 162,156 | 0 | 0 | $0 |
| Christopher Gibson | Director | June 5, 2026 C | 883,735 | 0 | 1 | $-144,800 |
| CHAVEZ R. MARTIN | Director | Oct. 2, 2023 A | 56,177 | 0 | 0 | $0 |
| Terry-Ann Burrell | Director | July 13, 2023 S | 54,847 | 0 | 0 | $0 |
| Zachary Bogue | Director | July 3, 2023 A | 9,378 | 0 | 0 | $0 |
| Blake Borgeson | — | Aug. 4, 2026 S | 6,188,287 | 0 | 3 | $-366,300 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
Activists & 5%+ owners 2 positions
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 |
|---|---|---|---|---|---|
| Mubadala Investment Co PJSC, Mamoura Diversified Global Holding PJSC, MDC Capital Partners (Ventures) GP, LP, MDC Capital Partners (Ventures), LP, MIC Capital Management UK LLP, MC Alternative Solutions, LP, MIC Capital Partners (Ventures) Europe Parallel (Luxembourg) Aggregator SCSp | Dec. 23, 2025 | 1.40% | Amendment | — | SEC |
| Mubadala Investment Company PJSC, Mamoura Diversified Global Holdings PJSC, MDC Capital Partners (Ventures) GP, LP, MDC Capital Partners (Ventures), LP, MIC Capital Management UK LLP, MIC Capital Partners (Public) Parallel Cayman, LP ×3 filings | Oct. 31, 2022 | — | Initial filing | — | 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 48 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 |
|---|---|---|---|---|
| ARKG · ARK ETF Trust | 3.51% | 12,549,240 NS | April 30, 2026 | N-PORT |
| HEAL · Global X Funds | 1.76% | 122,490 NS | May 31, 2026 | N-PORT |
| ARKK · ARK ETF Trust | 1.16% | 21,733,974 NS | April 30, 2026 | N-PORT |
| LABU · Direxion Shares ETF Trust | 0.64% | 958,574 NS | April 30, 2026 | N-PORT |
| BBC · ETFis Series Trust I | 0.59% | 63,742 NS | April 30, 2026 | N-PORT |
| IBB · iShares Trust | 0.12% | 3,448,863 SH | Aug. 8, 2026 | Daily |
| IBBQ · Invesco Exchange-Traded Fund Trust … | 0.12% | 28,551 SH | Aug. 8, 2026 | Daily |
| VTWV · VANGUARD SCOTTSDALE FUNDS | 0.11% | 407,525 SH | Aug. 8, 2026 | Daily |
| ESSC · Strategy Shares | 0.11% | 8,042 NS | April 30, 2026 | N-PORT |
| IWN · iShares Trust | 0.09% | 4,323,073 SH | Aug. 8, 2026 | Daily |
| BIB · ProShares Trust | 0.09% | 19,297 NS | May 31, 2026 | N-PORT |
| BBSC · J.P. Morgan Exchange-Traded Fund Tr… | 0.09% | 189,563 NS | April 30, 2026 | N-PORT |
| VTWO · VANGUARD SCOTTSDALE FUNDS | 0.06% | 2,943,069 SH | Aug. 8, 2026 | Daily |
| BKSE · BNY Mellon ETF Trust | 0.06% | 13,989 NS | April 30, 2026 | N-PORT |
| PRFZ · Invesco Exchange-Traded Fund Trust | 0.06% | 496,503 SH | Aug. 8, 2026 | Daily |
| ESML · iShares Trust | 0.05% | 468,645 SH | Aug. 8, 2026 | Daily |
| IWM · iShares Trust | 0.05% | 12,868,692 SH | Aug. 8, 2026 | Daily |
| VBK · VANGUARD INDEX FUNDS | 0.05% | 6,619,812 SH | Aug. 8, 2026 | Daily |
| RSSL · Global X Funds | 0.05% | 198,702 NS | April 30, 2026 | N-PORT |
| AVSC · AMERICAN CENTURY ETF TRUST | 0.05% | 356,479 NS | May 31, 2026 | N-PORT |
| ITWO · ProShares Trust | 0.04% | 21,573 NS | May 31, 2026 | N-PORT |
| SCHA · SCHWAB STRATEGIC TRUST | 0.04% | 2,475,684 NS | May 31, 2026 | N-PORT |
| ISCV · iShares Trust | 0.04% | 77,921 SH | Aug. 8, 2026 | Daily |
| VHT · VANGUARD WORLD FUND | 0.03% | 1,414,694 SH | Aug. 8, 2026 | Daily |
| ISCB · iShares Trust | 0.03% | 23,036 SH | Aug. 8, 2026 | Daily |
| FHLC · FIDELITY COVINGTON TRUST | 0.02% | 203,251 NS | April 30, 2026 | N-PORT |
| UWM · ProShares Trust | 0.02% | 16,872 NS | May 31, 2026 | N-PORT |
| VXF · VANGUARD INDEX FUNDS | 0.02% | 6,007,573 SH | Aug. 8, 2026 | Daily |
| VB · VANGUARD INDEX FUNDS | 0.02% | 11,441,396 SH | Aug. 8, 2026 | Daily |
| URTY · ProShares Trust | 0.02% | 17,069 NS | May 31, 2026 | N-PORT |
| ISCG · iShares Trust | 0.02% | 50,425 SH | Aug. 8, 2026 | Daily |
| DXUV · Dimensional ETF Trust | 0.01% | 16,124 NS | April 30, 2026 | N-PORT |
| WSML · iShares Trust | 0.01% | 26,944 SH | Aug. 8, 2026 | Daily |
| VTWG · VANGUARD SCOTTSDALE FUNDS | 0.01% | 50,346 SH | Aug. 8, 2026 | Daily |
| IWO · iShares Trust | 0.01% | 430,242 SH | Aug. 8, 2026 | Daily |
| MSSM · MORGAN STANLEY PATHWAY FUNDS | 0.01% | 14,969 NS | May 31, 2026 | N-PORT |
| HDG · ProShares Trust | 0.01% | 428 NS | May 31, 2026 | N-PORT |
| ONEQ · Fidelity Commonwealth Trust | 0.01% | 172,547 NS | May 31, 2026 | N-PORT |
| TILT · FlexShares Trust | 0.00% | 19,096 NS | April 30, 2026 | N-PORT |
| SCHB · SCHWAB STRATEGIC TRUST | 0.00% | 313,969 NS | May 31, 2026 | N-PORT |
| IWV · iShares Trust | 0.00% | 158,236 SH | Aug. 8, 2026 | Daily |
| ITOT · iShares Trust | 0.00% | 725,413 SH | Aug. 8, 2026 | Daily |
| AVUS · AMERICAN CENTURY ETF TRUST | 0.00% | 5,993 NS | May 31, 2026 | N-PORT |
| VTI · VANGUARD INDEX FUNDS | 0.00% | 15,827,859 SH | Aug. 8, 2026 | Daily |
| VT · VANGUARD INTERNATIONAL EQUITY INDEX… | 0.00% | 420,023 SH | Aug. 8, 2026 | Daily |
| VTHR · VANGUARD SCOTTSDALE FUNDS | 0.00% | 43,429 SH | Aug. 8, 2026 | Daily |
| DFAS · Dimensional ETF Trust | 0.00% | 1,277 NS | April 30, 2026 | N-PORT |
| ESGV · VANGUARD WORLD FUND | 0.00% | 113,259 SH | Aug. 8, 2026 | Daily |