SYM Symbotic Inc. - Class A Common Stock
$39.90
Price · Aug 19, 2026
Fundamentals as of Aug 5, 2026
52W Range
$38–$88
3% of range
Analyst Rating
BUY
23 analysts
Price Target
$64
+61% upside
P/E (TTM)
-254.3
ROE
-8.1%
Net Profit Margin
-0.75%
SYM Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$39.90
Market Cap
$24.04B
P/E (TTM)
-254.3
EPS (TTM)
$-0.16
Revenue (TTM)
$2.25B
Div Yield
—
ROE
-8.1%
Debt/Equity
—
52W Range
$38 – $88
SYM 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
$2.25B
2020-09-26
→
2025-09-27
EPS
$-0.16
2022-09-24
→
2025-09-27
Free Cash Flow
—
2022-09-24
→
2024-09-28
Margins
-0.75%
2022-09-24
→
2025-09-27
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Metric
5Y trend
SYM
Peer Median
P/E (TTM)
-254.3
29.6
P/S (TTM)
10.7
4.4
P/B
108.6
3.6
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Metric
5Y trend
SYM
Peer Median
Gross Margin
18.8%
39.3%
Operating Margin
-5.1%
—
Net Profit Margin
-0.75%
12.7%
ROA
-0.85%
7.4%
ROE
-8.1%
13.9%
ROIC
-50.9%
—
Financial Health Debt, liquidity, solvency — balance sheet strength
Metric
5Y trend
SYM
Peer Median
Current Ratio
1.1
1.5
Quick Ratio
0.8
—
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Metric
5Y trend
SYM
Peer Median
Revenue YoY
25.7%
—
Revenue CAGR 3Y
55.9%
—
Revenue CAGR 5Y
89.4%
—
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
Metric
5Y trend
SYM
Peer Median
SYM Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
BUY
23 analysts
- Strong Buy 3 13.0%
- Buy 10 43.5%
- Hold 7 30.4%
- Sell 3 13.0%
- Strong Sell 0 0.0%
12-Month Price Target
15 analysts · 2026-08-17
Median
$70.00
Mean
$64.32
← Below all targets
$39.90
Low
$42.00
High
$85.00
Median target
$70.00
+75.4%
Mean target
$64.32
+61.2%
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
-0.08%
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| June 30, 2026 | $-0.05 | $0.17 | -0.22% |
| March 31, 2026 | $0.03 | $0.15 | -0.12% |
| Dec. 31, 2025 | $0.07 | $0.13 | -0.06% |
| Sept. 30, 2025 | $0.03 | $0.11 | -0.08% |
| June 30, 2025 | $0.11 | $0.04 | 0.07% |
| March 31, 2025 | $-0.01 | $0.05 | -0.06% |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| SYM | $30.81B | -325.9 | 25.7% | -0.75% | -8.1% | 18.8% |
| ITW | $71.08B | 23.5 | 0.92% | 19.1% | 95.3% | — |
| IR | $30.98B | 54.6 | 5.8% | 7.6% | 5.7% | 43.6% |
| DOV | — | 24.6 | 4.5% | 13.5% | 14.7% | 39.8% |
| OTIS | — | 25.0 | 1.2% | 9.6% | -27.0% | — |
| XYL | $33.17B | 34.7 | 5.5% | 10.6% | 8.6% | 38.5% |
| SNA | — | 18.3 | 0.93% | 19.7% | 18.0% | — |
| ITT | — | 28.4 | 8.5% | 12.4% | 14.2% | 35.4% |
| FTV | $17.30B | 31.9 | 1.9% | 13.9% | 7.0% | 63.5% |
| RBC | $17.42B | 58.6 | 14.3% | 15.4% | 8.8% | 44.4% |
| IEX | $16.03B | 27.8 | 5.8% | 14.0% | 12.3% | 44.5% |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement 16
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Revenue | $2.25B | $1.79B | $1.18B | $593M | · | · | |
| Cost of Revenue | $1.82B | $1.54B | $987M | $494M | · | · | |
| Gross Profit | $423M | $246M | $190M | $100M | · | · | |
| R&D Expense | $216M | $173M | $195M | $124M | · | · | |
| SG&A Expense | $299M | $189M | $218M | $116M | $6M | · | |
| Operating Expenses | $538M | $362M | $413M | $240M | · | · | |
| Operating Income | $-115M | $-117M | $-223M | $-140M | $-6M | · | |
| Other Non-op | $36M | $37M | $11M | $1M | $16.4K | · | |
| Pretax Income | $-79M | $-80M | $-213M | $-139M | · | · | |
| Income Tax | $-2M | $4M | $-5M | $0 | · | · | |
| Net Income | $-17M | $-13M | $-24M | $-7M | $-6M | · | |
| EPS (Basic) | $-0.16 | $-0.14 | $-0.37 | $-0.13 | · | · | |
| EPS (Diluted) | $-0.16 | $-0.14 | $-0.37 | $-0.13 | · | · | |
| Shares (Basic) | 108,670,159 | 95,697,368 | 64,338,580 | 54,086,381 | · | · | |
| Shares (Diluted) | 108,670,159 | 95,697,368 | 64,338,580 | 54,086,381 | · | · | |
| EBITDA | $-75M | $-93M | $-212M | $-134M | $-6M | · |
Balance Sheet 25
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $1.24B | $727M | $259M | $353M | $812.9K | $0 | |
| Receivables | $187M | $202M | $69M | $3M | · | · | |
| Inventory | $164M | $106M | $136M | $92M | · | · | |
| Prepaid Expense | $87M | $101M | $85M | $26M | $740.8K | $6.2K | |
| Current Assets | $1.88B | $1.36B | $992M | $605M | $2M | $6.2K | |
| PP&E (Net) | $118M | $97M | $35M | $25M | · | · | |
| PP&E (Gross) | $168M | $131M | $53M | $49M | · | · | |
| Accum. Depreciation | $50M | $34M | $19M | $24M | · | · | |
| Goodwill | $60M | $0 | · | · | · | · | |
| Intangibles | $79M | $4M | $217.0K | $650.0K | · | · | |
| Other Non-current Assets | $131M | $41M | $24M | $337.0K | · | · | |
| Total Assets | $2.40B | $1.58B | $1.05B | $631M | $322M | $132.9K | |
| Accounts Payable | $287M | $175M | $110M | $68M | $194.6K | $9.0K | |
| Accrued Liabilities | · | $166M | $100M | $47M | $3M | $100.0K | |
| Short-term Debt | · | · | · | · | · | $17.8K | |
| Current Liabilities | $1.73B | $1.02B | $1.03B | $523M | $4M | $126.8K | |
| Capital Leases | $24M | $16M | $12M | · | · | · | |
| Other Non-current Liabilities | $64M | $42M | $28M | $8M | · | · | |
| Total Liabilities | $1.92B | $1.19B | $1.05B | $562M | $15M | $126.8K | |
| Paid-in Capital | $1.56B | $1.52B | $1.25B | $1.24B | $0 | $24.2K | |
| Retained Earnings | $-1.33B | $-1.32B | $-1.31B | $-1.29B | $-14M | $-18.8K | |
| AOCI | $-3M | $-3M | $-2M | $-2M | · | · | |
| Stockholders' Equity | $220M | $197M | $82.0K | $7M | $-14M | $6.2K | |
| Liabilities + Equity | $2.40B | $1.58B | $1.05B | $631M | $322M | $132.9K | |
| Shares Outstanding | 590,888,439 | 585,963,959 | 556,572,919 | 553,889,249 | · | · |
Cash Flow 14
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| D&A | $40M | $21M | $9M | $6M | · | · | |
| Stock-based Comp | $184M | $112M | $154M | $27M | · | · | |
| Deferred Tax | $-4M | $4M | $-5M | $0 | · | · | |
| Amort. of Intangibles | $14M | $500.0K | $400.0K | $500.0K | · | · | |
| Restructuring | $23M | $0 | $0 | · | · | · | |
| Other Non-cash | $665M | $-184M | $94M | $-109M | · | · | |
| Operating Cash Flow | $867M | $-58M | $231M | $-148M | $-3M | · | |
| CapEx | · | $42M | $16M | $18M | · | · | |
| Investing Cash Flow | $-351M | $156M | $-299M | $-18M | $-320M | · | |
| Stock Issued | $0 | $258M | $0 | $0 | · | · | |
| Net Stock Activity | $0 | $258M | $3M | · | · | · | |
| Financing Cash Flow | $668.0K | $371M | $-24M | $362M | $324M | · | |
| Net Change in Cash | $517M | $469M | $-93M | $197M | $812.9K | · | |
| Free Cash Flow | · | $-100M | $215M | $-166M | · | · |
Profitability 8
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Gross Margin | 18.8% | 13.7% | 16.1% | 16.8% | · | · | |
| Operating Margin | -5.1% | -6.5% | -19.0% | -23.7% | · | · | |
| Net Margin | -0.75% | -0.75% | -2.0% | -12.2% | · | · | |
| Pretax Margin | -3.5% | -4.5% | -18.1% | -23.4% | · | · | |
| EBITDA Margin | -3.4% | -5.2% | -18.0% | -22.7% | · | · | |
| ROA | -0.85% | -1.0% | -2.8% | -15.1% | -2.1% | · | |
| ROE | -8.1% | -13.7% | -656.9% | 2269.3% | 54.8% | · | |
| ROIC | -50.9% | -62.3% | -266313.5% | -1954.0% | · | · |
Liquidity & Solvency 2
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Current Ratio | 1.1 | 1.3 | 1.0 | 1.2 | 0.0 | · | |
| Quick Ratio | 0.8 | 0.9 | 0.3 | 0.7 | 0.0 | · |
Efficiency 3
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Asset Turnover | 1.1 | 1.4 | 1.4 | 1.2 | · | · | |
| Inventory Turnover | 13.5 | 12.7 | 8.7 | 7.9 | · | · | |
| Receivables Turnover | 11.6 | 13.2 | 32.4 | 17.8 | · | · |
Growth Rates 3
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Revenue YoY | 25.7% | 51.9% | 98.4% | 135.5% | · | · | |
| Revenue CAGR 3Y | 55.9% | 92.2% | 133.8% | · | · | · | |
| Revenue CAGR 5Y | 89.4% | · | · | · | · | · |
Valuation (TTM) 10
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Revenue TTM | $2.25B | $1.79B | $1.18B | $593M | · | · | |
| Net Income TTM | $-17M | $-13M | $-24M | $-7M | $-6M | · | |
| Market Cap | $30.81B | $14.95B | $18.61B | $5.84B | · | · | |
| P/E | -325.9 | -182.3 | -90.4 | -81.1 | · | · | |
| P/S | 13.7 | 8.4 | 15.8 | 9.8 | · | · | |
| P/B | 139.2 | 75.8 | 226905.3 | 812.6 | · | · | |
| P / Tangible Book | 379.5 | 77.3 | · | 893.5 | · | · | |
| P / Cash Flow | 35.5 | -257.5 | 80.6 | -39.4 | · | · | |
| P / FCF | · | -149.1 | 86.5 | -35.1 | · | · | |
| Earnings Yield | -0.31% | -0.55% | -1.1% | -1.2% | · | · |
Income Statement 16
| Metric | Trend | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $721M | $676M | $630M | $618M | $592M | $550M | $487M | $565M | $470M | $393M | $360M | $392M | $312M | $267M | $206M | $244M | |
| Cost of Revenue | $560M | $527M | $497M | $492M | $480M | $439M | $406M | $468M | $415M | $363M | $296M | $333M | $259M | $224M | $171M | $208M | |
| Gross Profit | $161M | $150M | $133M | $126M | $112M | $111M | $81M | $96M | $55M | $30M | $64M | $59M | $53M | $43M | $35M | $37M | |
| R&D Expense | $44M | $51M | $43M | $59M | $50M | $58M | $43M | $40M | $45M | $46M | $42M | $46M | $49M | $50M | $51M | $43M | |
| SG&A Expense | $84M | $93M | $81M | $84M | $72M | $73M | $61M | $45M | $48M | $49M | $47M | $67M | $46M | $51M | $54M | $48M | |
| Operating Expenses | $128M | $144M | $127M | $150M | $138M | $131M | $104M | $86M | $93M | $95M | $89M | $113M | $95M | $101M | $105M | $91M | |
| Operating Income | $33M | $6M | $7M | $-23M | $-26M | $-20M | $-23M | $11M | $-38M | $-65M | $-25M | $-54M | $-42M | $-58M | $-70M | $-54M | |
| Other Non-op | $31M | $11M | $13M | $8M | $8M | $12M | $8M | $9M | $12M | $10M | $6M | $4M | $3M | $2M | $2M | $1M | |
| Pretax Income | $63M | $17M | $20M | $-15M | $-17M | $-9M | $-15M | $20M | $-26M | $-55M | $-19M | $-50M | $-39M | $-55M | $-68M | $-53M | |
| Income Tax | $-1M | $572.0K | $615.0K | $-424.0K | $44.0K | $-1M | $150.0K | $4M | $182.0K | $-252.0K | $172.0K | $-5M | $5.0K | $-17.0K | $251.0K | $0 | |
| Net Income | $12M | $2M | $3M | $-4M | $-4M | $-2M | $-3M | $3M | $-5M | $-9M | $-3M | $-6M | $-4M | $-6M | $-7M | $47M | |
| EPS (Basic) | $0.09 | $0.02 | $0.02 | $-0.04 | $-0.04 | $-0.02 | $-0.03 | $0.03 | $-0.05 | $-0.09 | $-0.03 | $-0.08 | $-0.07 | $-0.10 | $-0.12 | $-0.10 | |
| EPS (Diluted) | $0.09 | $0.01 | $0.02 | $-0.04 | $-0.04 | $-0.02 | $-0.03 | $0.03 | $-0.05 | $-0.09 | $-0.03 | $-0.08 | $-0.07 | $-0.10 | $-0.12 | $-0.10 | |
| Shares (Basic) | 128,076,383 | 125,538,207 | 115,474,119 | -214,357,130 | 109,201,745 | 107,726,978 | 106,098,566 | -183,081,628 | 102,414,284 | 93,043,769 | 83,320,943 | -116,182,931 | 61,782,886 | 60,503,119 | 58,235,506 | 3,422,235 | |
| Shares (Diluted) | 133,252,947 | 134,364,904 | 127,870,238 | -214,357,130 | 109,201,745 | 107,726,978 | 106,098,566 | -183,081,628 | 102,414,284 | 93,043,769 | 83,320,943 | -116,182,931 | 61,782,886 | 60,503,119 | 58,235,506 | 3,422,235 | |
| EBITDA | $33M | $6M | $15M | · | $-37M | $-32M | $-17M | · | · | · | $3M | · | $-42M | $-58M | $-67M | · |
Balance Sheet 24
| Metric | Trend | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $1.75B | $2.01B | $1.82B | $1.24B | $778M | $955M | $903M | $727M | $870M | $901M | $486M | $259M | $255M | $257M | $351M | $353M | |
| Receivables | $289M | $133M | $108M | $187M | $136M | $138M | $134M | $202M | $100M | $128M | $153M | · | $74M | $125M | $52M | · | |
| Inventory | $221M | $201M | $184M | $164M | $139M | $146M | $109M | $106M | $132M | $120M | $138M | · | $167M | $140M | $111M | · | |
| Prepaid Expense | $83M | $82M | $70M | $92M | $102M | $94M | $86M | $101M | $101M | $110M | $104M | · | $36M | $39M | $32M | · | |
| Current Assets | $2.86B | $2.92B | $2.46B | $1.89B | $1.43B | $1.50B | $1.46B | $1.36B | $1.31B | $1.45B | $1.25B | · | $922M | $866M | $772M | · | |
| PP&E (Net) | $159M | $146M | $116M | $118M | $73M | $124M | $105M | $97M | $81M | $75M | $35M | · | $41M | $36M | $30M | · | |
| PP&E (Gross) | $226M | $209M | $171M | $168M | $119M | $171M | $145M | $131M | $115M | $99M | $56M | · | $69M | $62M | $56M | · | |
| Accum. Depreciation | $68M | $63M | $55M | $50M | $46M | $47M | $40M | $34M | $34M | $24M | $21M | · | $29M | $27M | $25M | · | |
| Goodwill | $60M | $60M | $60M | $60M | $61M | $69M | · | $0 | · | · | · | · | · | · | · | · | |
| Intangibles | $83M | $87M | $75M | $79M | $83M | $126M | $15M | $4M | $0 | $0 | $0 | · | $335.0K | $427.0K | $540.0K | · | |
| Other Non-current Assets | $224M | $144M | $141M | $131M | $79M | $63M | $51M | $41M | $106M | $29M | $30M | · | $7M | $7M | $6M | · | |
| Total Assets | $3.52B | $3.50B | $2.99B | $2.40B | $1.83B | $1.96B | $1.72B | $1.58B | $1.50B | $1.55B | $1.32B | · | $970M | $910M | $809M | · | |
| Accounts Payable | $328M | $294M | $266M | $287M | $216M | $220M | $206M | $175M | $128M | $133M | $103M | · | $74M | $88M | $61M | · | |
| Accrued Liabilities | · | · | · | · | · | · | $203M | · | · | $119M | $116M | · | $61M | $71M | $73M | · | |
| Current Liabilities | $2.15B | $2.02B | $1.78B | $1.73B | $1.32B | $1.47B | $1.20B | $1.02B | $1.02B | $1.08B | $1.10B | · | $898M | $850M | $736M | · | |
| Capital Leases | $18M | $20M | $22M | $24M | $23M | $24M | $23M | · | $16M | $17M | $17M | · | $3M | $4M | $4M | · | |
| Other Non-current Liabilities | $60M | $62M | $61M | $64M | $62M | $62M | $48M | $42M | $49M | $39M | $37M | · | $17M | $15M | $13M | · | |
| Total Liabilities | $2.39B | $2.47B | $2.03B | $1.92B | $1.38B | $1.54B | $1.32B | $1.19B | $1.15B | $1.16B | $1.15B | · | $948M | $888M | $759M | · | |
| Paid-in Capital | $2.03B | $2.02B | $2.00B | $1.56B | $1.55B | $1.54B | $1.53B | $1.52B | $1.53B | $1.52B | $1.26B | · | $1.25B | $1.25B | $1.24B | · | |
| Retained Earnings | $-1.32B | $-1.33B | $-1.33B | $-1.34B | $-1.34B | $-1.33B | $-1.33B | $-1.32B | $-1.33B | $-1.32B | $-1.31B | · | $-1.30B | $-1.30B | $-1.29B | · | |
| AOCI | $-3M | $-3M | $-3M | $-3M | $-3M | $-3M | $-3M | $-3M | $-3M | $-2M | $-2M | · | $-2M | $-2M | $-2M | · | |
| Stockholders' Equity | $709M | $686M | $664M | $221M | $211M | $205M | $197M | $197M | $197M | $197M | $-57M | · | $2M | $2M | $5M | · | |
| Liabilities + Equity | $3.52B | $3.50B | $2.99B | $2.40B | $1.83B | $1.96B | $1.72B | $1.58B | $1.50B | $1.55B | $1.32B | · | $970M | $910M | $809M | · | |
| Shares Outstanding | 603,863,978 | 602,515,397 | 599,767,158 | 590,888,439 | 589,827,300 | 588,913,293 | 587,419,729 | 585,963,959 | 584,895,701 | 583,961,872 | 573,109,172 | 556,572,919 | 555,461,479 | 555,296,804 | 553,906,749 | 553,889,249 |
Cash Flow 13
| Metric | Trend | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $10M | $11M | $9M | $5M | $14M | $12M | $7M | $4M | $11M | $3M | $3M | $3M | $2M | $2M | $2M | $2M | |
| Stock-based Comp | $48M | $49M | $46M | $64M | $49M | $43M | $25M | $25M | $29M | $28M | $29M | $32M | $37M | $35M | $50M | $27M | |
| Amort. of Intangibles | $4M | $4M | $4M | $4M | $6M | $4M | $700.0K | · | · | · | · | · | · | · | · | · | |
| Restructuring | $0 | $12.0K | $3M | $7M | $16M | $0 | $0 | $0 | $0 | · | · | $-6M | $6M | $5M | · | · | |
| Other Non-cash | · | · | $134M | · | · | · | $174M | · | · | · | · | · | · | · | $57M | · | |
| Operating Cash Flow | $-147M | $261M | $192M | $531M | $-138M | $270M | $205M | $-99M | $50M | $21M | $-30M | $45M | $54M | $31M | $101M | $-52M | |
| CapEx | · | · | · | · | · | · | $7M | · | $17M | $2M | $2M | · | $7M | $6M | $7M | $7M | |
| Investing Cash Flow | $-91M | $-75M | $-41M | $-66M | $-39M | $-221M | $-25M | $-45M | $-34M | $137M | $99M | $-28M | $-55M | $-112M | $-104M | $-7M | |
| Stock Issued | $0 | $-61.0K | $424M | $0 | $0 | $0 | $0 | $0 | $0 | · | · | $0 | $-987.0K | · | · | $0 | |
| Net Stock Activity | · | · | $424M | · | · | · | · | · | · | · | · | · | · | · | · | · | |
| Financing Cash Flow | $14.0K | $4M | $423M | $2M | $57.0K | $3M | $-4M | $2M | $-48M | $258M | $159M | $-13M | $0 | $-11M | $0 | $0 | |
| Net Change in Cash | $-238M | $190M | $574M | $467M | $-177M | $52M | $176M | $-143M | $-31M | $416M | $227M | $3M | $-1M | $-92M | $-3M | $-58M | |
| Free Cash Flow | · | · | · | · | · | · | $198M | · | · | · | $-32M | · | · | · | $94M | · |
Profitability 8
| Metric | Trend | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 22.3% | 22.2% | 21.2% | · | 18.2% | 19.6% | 16.4% | · | · | · | · | · | 17.0% | 16.1% | 17.1% | · | |
| Operating Margin | 4.6% | 0.90% | 1.0% | · | -6.2% | -5.8% | -5.1% | · | · | · | · | · | -13.5% | -21.6% | -33.7% | · | |
| Net Margin | 1.6% | 0.29% | 0.41% | · | -1.0% | -0.71% | -0.71% | · | · | · | · | · | -1.4% | -2.3% | -3.5% | · | |
| Pretax Margin | 8.8% | 2.5% | 3.1% | · | -4.8% | -3.7% | -3.5% | · | · | · | · | · | -12.5% | -20.8% | -32.8% | · | |
| EBITDA Margin | 4.6% | 0.90% | 2.4% | · | -6.2% | -5.8% | -3.5% | · | · | · | · | · | -13.5% | -21.6% | -32.7% | · | |
| ROA | 0.44% | 0.07% | 0.11% | · | -0.36% | -0.22% | -0.23% | · | · | · | · | · | -0.55% | -0.99% | -1.3% | · | |
| ROE | 2.5% | 0.44% | 0.60% | · | -2.9% | -1.9% | -5.0% | · | · | · | · | · | -91.6% | 158.2% | 136.7% | · | |
| ROIC | 4.7% | 0.86% | 0.95% | · | -17.4% | -14.5% | -12.6% | · | · | · | · | · | -1696.9% | -2436.6% | -1311.8% | · |
Liquidity & Solvency 2
| Metric | Trend | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.3 | 1.4 | 1.4 | · | 1.1 | 1.0 | 1.2 | · | 1.3 | 1.3 | 1.1 | · | 1.0 | 1.0 | 1.0 | · | |
| Quick Ratio | 0.9 | 1.1 | 1.1 | · | 0.7 | 0.7 | 0.9 | · | 0.9 | 1.0 | 0.6 | · | 0.4 | 0.4 | 0.5 | · |
Efficiency 3
| Metric | Trend | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.3 | 0.2 | 0.3 | · | 0.4 | 0.3 | 0.3 | · | · | · | · | · | 0.4 | 0.4 | 0.4 | · | |
| Inventory Turnover | 3.1 | 3.0 | 3.4 | · | 3.6 | 3.3 | 3.3 | · | · | · | · | · | 1.8 | 3.2 | 3.1 | · | |
| Receivables Turnover | 3.4 | 5.0 | 5.2 | · | 5.0 | 4.1 | 3.4 | · | · | · | · | · | 8.2 | 4.3 | 7.9 | · |
Valuation (TTM) 10
| Metric | Trend | Q3 2026 | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $2.62B | $2.45B | $2.26B | · | $2.19B | $2.07B | $1.91B | · | $1.54B | $1.33B | $1.14B | · | $961M | $745M | $555M | · | |
| Net Income TTM | $12M | $-3M | $-10M | · | $-10M | $-9M | $-14M | · | $-21M | $-22M | $-20M | · | $-19M | $-34M | $-30M | · | |
| Market Cap | $24.90B | $30.38B | $34.78B | · | $21.97B | $11.87B | $14.15B | · | $20.56B | $26.28B | $29.42B | · | $21.95B | $12.04B | $6.10B | · | |
| P/E | 515.5 | -1260.5 | -579.9 | · | -413.9 | -224.0 | -172.0 | · | -146.5 | -155.2 | -160.4 | · | -123.5 | · | · | · | |
| P/S | 9.5 | 12.4 | 15.4 | · | 10.0 | 5.7 | 7.4 | · | 13.4 | 19.7 | 25.7 | · | 22.8 | 16.2 | 11.0 | · | |
| P/B | 35.1 | 44.3 | 52.4 | · | 104.3 | 57.8 | 72.0 | · | 104.6 | 133.3 | -514.9 | · | 8863.6 | 5084.0 | 1146.7 | · | |
| P / Tangible Book | 44.0 | 56.4 | 65.8 | · | 326.5 | 1084.0 | 77.9 | · | 104.6 | 133.3 | · | · | 10250.5 | 6202.4 | 1276.2 | · | |
| P / Cash Flow | · | · | 181.6 | · | · | · | 69.0 | · | · | · | -975.7 | · | · | · | 60.4 | · | |
| P / FCF | · | · | · | · | · | · | 71.6 | · | · | · | -910.1 | · | · | · | 64.9 | · | |
| Earnings Yield | 0.19% | -0.08% | -0.17% | · | -0.24% | -0.45% | -0.58% | · | -0.68% | -0.64% | -0.62% | · | -0.81% | · | · | · |
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
Income Statement
| 2025-09-27 | 2024-09-28 | 2023-09-30 | 2022-09-24 | 2021-12-31 | |
|---|---|---|---|---|---|
| Revenue | $2.25B | $1.79B | $1.18B | $593M | — |
| Gross Margin % | 18.8% | 13.7% | 16.1% | 16.8% | — |
| Operating Margin % | -5.1% | -6.5% | -19.0% | -23.7% | — |
| Net Income | $-17M | $-13M | $-24M | $-7M | $-6M |
| Diluted EPS | $-0.16 | $-0.14 | $-0.37 | $-0.13 | — |
Balance Sheet
| 2025-09-27 | 2024-09-28 | 2023-09-30 | 2022-09-24 | 2021-12-31 | |
|---|---|---|---|---|---|
| Current Ratio | 1.1 | 1.3 | 1.0 | 1.2 | 0.0 |
| Quick Ratio | 0.8 | 0.9 | 0.3 | 0.7 | 0.0 |
Cash Flow
| 2025-09-27 | 2024-09-28 | 2023-09-30 | 2022-09-24 | 2021-12-31 | |
|---|---|---|---|---|---|
| Free Cash Flow | — | $-100M | $215M | $-166M | — |
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Institutional owners (13F) 477 filers · $3.7B 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 |
|---|---|---|---|---|
| 99 (+12 vs prior Q) | 75 (+18 vs prior Q) | 164 (+29 vs prior Q) | 89 (-25 vs prior Q) | +8.0M |
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 |
|---|---|---|---|---|
| SOFTBANK GROUP CORP. | $899,000,000 | 20,000,000 | 24.09% | Shares |
| Walmart Inc. | $674,250,000 | 15,000,000 | 18.07% | Shares |
| SVF Sponsor III (DE) LLC | $297,388,000 | 5,590,000 | 7.97% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $193,089,557 | 4,295,652 | 5.17% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $128,165,036 | 2,851,280 | 3.43% | Shares |
| AMERIPRISE FINANCIAL INC | $87,683,165 | 1,950,677 | 2.35% | Shares |
| TWO SIGMA INVESTMENTS, LP | $63,384,130 | 1,410,103 | 1.70% | Shares |
| FMR LLC | $55,230,470 | 1,228,709 | 1.48% | Shares |
| RENAISSANCE TECHNOLOGIES LLC | $43,156,495 | 960,100 | 1.16% | Shares |
| Daiwa Securities Group Inc. | $42,579,607 | 947,266 | 1.14% | Shares |
| MORGAN STANLEY | $42,485,616 | 945,175 | 1.14% | Shares |
| CANADA PENSION PLAN INVESTMENT BOARD | $38,854,780 | 864,400 | 1.04% | Shares |
| BANK OF AMERICA CORP /DE/ | $36,780,922 | 818,263 | 0.99% | Shares |
| ARK Investment Management LLC | $35,813,868 | 796,749 | 0.96% | Shares |
| MILLENNIUM MANAGEMENT LLC | $34,655,551 | 770,980 | 0.93% | Shares |
| GOLDMAN SACHS GROUP INC | $34,498,001 | 767,475 | 0.92% | Shares |
| RAYMOND JAMES FINANCIAL INC | $32,652,085 | 726,409 | 0.87% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $30,999,246 | 689,359 | 0.83% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $29,105,125 | 647,500 | 0.78% | Call option |
| TCW GROUP INC | $29,086,471 | 647,085 | 0.78% | Shares |
| Navis Wealth Advisors, LLC | $27,657,330 | 615,291 | 0.74% | Shares |
| STATE STREET CORP | $25,037,465 | 557,007 | 0.67% | Shares |
| TWO SIGMA ADVISERS, LP | $24,454,500 | 411,000 | 0.66% | Shares |
| Trexquant Investment LP | $22,448,390 | 499,408 | 0.60% | Shares |
| S SQUARED TECHNOLOGY, LLC | $21,896,314 | 487,126 | 0.59% | Shares |
| FRONTIER CAPITAL MANAGEMENT CO LLC | $21,627,863 | 481,154 | 0.58% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $21,571,505 | 479,900 | 0.58% | Put option |
| JANE STREET GROUP, LLC | $21,571,505 | 479,900 | 0.58% | Call option |
| BAILLIE GIFFORD & CO | $21,103,890 | 469,497 | 0.57% | Shares |
| BNP PARIBAS FINANCIAL MARKETS | $20,744,740 | 461,507 | 0.56% | Shares |
| CITADEL ADVISORS LLC | $19,737,545 | 439,100 | 0.53% | Call option |
| JANE STREET GROUP, LLC | $18,519,400 | 412,000 | 0.50% | Put option |
| Point72 Asset Management, L.P. | $18,004,543 | 400,546 | 0.48% | Shares |
| PEAK6 LLC | $17,633,885 | 392,300 | 0.47% | Call option |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $17,158,269 | 381,719 | 0.46% | Shares |
| Cubist Systematic Strategies, LLC | $17,000,060 | 315,400 | 0.46% | Put option |
| VANGUARD FIDUCIARY TRUST CO | $16,892,660 | 375,810 | 0.45% | Shares |
| USS Investment Management Ltd | $14,419,448 | 320,860 | 0.39% | Shares |
| LPL Financial LLC | $13,804,909 | 307,117 | 0.37% | Shares |
| Thematics Asset Management | $13,769,564 | 255,465 | 0.37% | Shares |
| FIRST TRUST ADVISORS LP | $13,476,279 | 299,806 | 0.36% | Shares |
| Walleye Trading LLC | $12,082,560 | 268,800 | 0.32% | Call option |
| RPG Investment Advisory, LLC | $11,999,807 | 266,959 | 0.32% | Shares |
| AXA Investment Managers S.A. | $11,908,181 | 220,931 | 0.32% | Shares |
| CITADEL ADVISORS LLC | $11,853,315 | 263,700 | 0.32% | Put option |
| SIERRA SUMMIT ADVISORS LLC | $11,645,602 | 259,079 | 0.31% | Shares |
| Mitsubishi UFJ Trust & Banking Corp | $11,609,596 | 258,278 | 0.31% | Shares |
| Driehaus Capital Management LLC | $11,574,805 | 257,504 | 0.31% | Shares |
| WOLVERINE TRADING, LLC | $11,530,458 | 214,600 | 0.31% | Call option |
| WOLVERINE TRADING, LLC | $10,552,572 | 196,400 | 0.28% | Put option |
| MIROVA | $9,747,587 | 216,854 | 0.26% | Shares |
| HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND | $9,348,207 | 207,969 | 0.25% | Shares |
| Cubist Systematic Strategies, LLC | $8,920,450 | 165,500 | 0.24% | Call option |
| Bridgewater Associates, LP | $8,269,676 | 183,975 | 0.22% | Shares |
| VICTORY CAPITAL MANAGEMENT INC | $8,091,045 | 180,001 | 0.22% | Shares |
| Amundi | $8,018,001 | 178,376 | 0.21% | Shares |
| ADAGE CAPITAL PARTNERS GP, L.L.C. | $7,735,041 | 172,081 | 0.21% | Shares |
| Mubadala Investment Co PJSC | $7,726,905 | 171,900 | 0.21% | Shares |
| Qube Research & Technologies Ltd | $7,160,760 | 159,305 | 0.19% | Shares |
| NATIXIS | $7,097,785 | 157,904 | 0.19% | Shares |
| &PARTNERS | $6,334,804 | 140,800 | 0.17% | Shares |
| SEVEN GRAND MANAGERS, LLC | $6,180,625 | 137,500 | 0.17% | Shares |
| CAPITAL FUND MANAGEMENT S.A. | $6,173,118 | 137,333 | 0.17% | Shares |
| Walleye Trading LLC | $6,014,310 | 133,800 | 0.16% | Put option |
| Swiss National Bank | $5,955,875 | 132,500 | 0.16% | Shares |
| TUDOR INVESTMENT CORP ET AL | $5,452,974 | 121,312 | 0.15% | Shares |
| BLAIR WILLIAM & CO/IL | $5,300,504 | 117,920 | 0.14% | Shares |
| IQ EQ FUND MANAGEMENT (IRELAND) Ltd | $4,969,357 | 110,553 | 0.13% | Shares |
| Slow Capital, Inc. | $4,839,273 | 107,659 | 0.13% | Shares |
| CITADEL ADVISORS LLC | $4,503,810 | 100,196 | 0.12% | Shares |
| STIFEL FINANCIAL CORP | $4,308,114 | 95,842 | 0.12% | Shares |
| BOURNE LENT ASSET MANAGEMENT INC | $4,032,464 | 89,710 | 0.11% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $4,029,768 | 89,650 | 0.11% | Shares |
| Schonfeld Strategic Advisors LLC | $3,932,315 | 87,482 | 0.11% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $3,866,150 | 86,010 | 0.10% | Shares |
| ExodusPoint Capital Management, LP | $3,734,311 | 83,077 | 0.10% | Shares |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC | $3,707,189 | 69,684 | 0.10% | Shares |
| BlackRock, Inc. | $3,600,630 | 80,103 | 0.10% | Shares |
| PICTON MAHONEY ASSET MANAGEMENT | $3,479,311 | 77,404 | 0.09% | Shares |
| DDD Partners, LLC | $3,406,805 | 75,791 | 0.09% | Shares |
| LOS ANGELES CAPITAL MANAGEMENT LLC | $3,302,387 | 73,468 | 0.09% | Shares |
| FORA Capital, LLC | $3,236,534 | 72,003 | 0.09% | Shares |
| Woodson Capital Management, LP | $3,146,500 | 70,000 | 0.08% | Shares |
| MARATHON CAPITAL MANAGEMENT | $3,136,611 | 69,780 | 0.08% | Shares |
| Abacus FCF Advisors LLC | $3,108,742 | 69,160 | 0.08% | Shares |
| ALGERT GLOBAL LLC | $3,084,918 | 68,630 | 0.08% | Shares |
| Cetera Investment Advisers | $3,067,579 | 68,244 | 0.08% | Shares |
| Point72 Asset Management, L.P. | $3,043,115 | 67,700 | 0.08% | Put option |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM | $2,972,337 | 55,871 | 0.08% | Shares |
| Legacy Capital Wealth Partners, LLC | $2,854,909 | 63,513 | 0.08% | Shares |
| Entropy Technologies, LP | $2,833,828 | 63,044 | 0.08% | Shares |
| Register Financial Advisors LLC | $2,810,364 | 62,522 | 0.08% | Shares |
| 180 WEALTH ADVISORS, LLC | $2,774,175 | 61,717 | 0.07% | Shares |
| Taylor Frigon Capital Management LLC | $2,728,465 | 60,700 | 0.07% | Shares |
| XTX Topco Ltd | $2,695,517 | 59,967 | 0.07% | Shares |
| WOLVERINE TRADING, LLC | $2,633,039 | 49,005 | 0.07% | Shares |
| Holocene Advisors, LP | $2,603,279 | 57,915 | 0.07% | Shares |
| Engineers Gate Manager LP | $2,559,004 | 56,930 | 0.07% | Shares |
| PEAK6 LLC | $2,488,297 | 55,357 | 0.07% | Shares |
| SIMPLEX TRADING, LLC | $2,460,248 | 54,733 | 0.07% | Shares |
Company insiders 21 insiders · 7 officers · 8 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Ioannis Pipilis | Chief Executive Officer | June 7, 2022 M | 50,000 | 0 | 0 | $0 |
| Navneet Govil | Chief Financial Officer | June 7, 2022 M | 62,500 | 0 | 0 | $0 |
| Thomas C Ernst JR | Chief Financial Officer | June 7, 2022 A | 984,501 | 0 | 0 | $0 |
| William M Boyd III | Chief Strategy Officer | July 23, 2026 M | 57,112 | 0 | 3 | $-608,306 |
| James Kuffner | Chief Technology Officer | July 23, 2026 M | 214,062 | 0 | 1 | $-766,695 |
| Maria G Freve | Reporting Person's title is VP, Controller and Chief Accounting Officer | July 23, 2026 M | 3,096 | 0 | 1 | $-90,388 |
| Brian Daniel Alexander | SVP, Commercial | July 23, 2026 M | 55,611 | 0 | 1 | $-367,939 |
| Michael D. Rhodin | Director | July 19, 2022 A | 754,698 | 0 | 0 | $0 |
| Rollin L. Ford | Director | July 19, 2022 A | 1,212,420 | 0 | 0 | $0 |
| Cristiana Falcone | Director | June 7, 2022 M | 50,000 | 0 | 0 | $0 |
| Michael Tobin | Director | June 7, 2022 M | 50,000 | 0 | 0 | $0 |
| Merline Saintil | Director | June 7, 2022 A | 20,000 | 0 | 0 | $0 |
| Michael A Carpenter | Director | June 7, 2022 M | 50,000 | 0 | 0 | $0 |
| Walmart Inc. | 10% owner | Dec. 12, 2023 X | 61,350,823 | 0 | 0 | $0 |
| David A Ladensohn | 10% owner | July 24, 2023 J | 0 | 0 | 0 | $0 |
| SVF Sponsor III (DE) LLC | 10% owner | June 7, 2022 M | 9,090,000 | 0 | 0 | $0 |
| Stephen G Pagliuca | — | Aug. 14, 2026 A | — | 0 | 0 | $0 |
| Todd Krasnow | — | Aug. 3, 2026 J | 0 | 0 | 11 | $-444,705 |
| Charles Kane | — | Aug. 3, 2026 J | 89,852 | 0 | 10 | $-1,575,197 |
| Izilda P Martins | — | July 23, 2026 M | 35,171 | 0 | 1 | $-1,120,490 |
| Eric Branderiz | — | March 5, 2026 M | 11,860 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
Activists & 5%+ owners 8 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 |
|---|---|---|---|---|---|
| SoftBank Group Corp., SB Investment Advisers (US) Inc., SVF Sponsor III (DE) LLC, SB Global Advisers Limited, SoftBank Vision Fund II-2 L.P., SVF II Aggregator (Jersey) L.P., SVF II Holdings (DE) LLC, SVF II SPAC Investment 3 (DE) LLC, Silver Brick Management PTE. LTD., SB Northstar LP, SVF II Strategic Investments AIV LLC ×2 filings | May 29, 2026 | 31.30% | Amendment | — | SEC |
| Ronald M. Wright, The Goose Pond Trust | May 19, 2026 | 7.90% | Initial filing | — | SEC |
| David A. Ladensohn, The RBC Millennium Trust, The Tilia Mill Trust, The Serenade QSST Trust, The 2014 QSST F/B/O Perry Cohen ×5 filings | May 19, 2026 | 58.20% | Amendment | — | SEC |
| Richard B. Cohen, RJJRP Holdings, Inc., Richard B. Cohen Revocable Trust ×7 filings | Sept. 22, 2025 | 29.00% | Amendment | — | SEC |
| The RBC Millennium GST Non-Exempt Trust | June 26, 2025 | 60.30% | Initial filing | Passive investment | SEC |
| Walmart Inc. ×4 filings | Jan. 17, 2025 | 45.40% | Amendment | Board campaign | SEC |
| Janet L. Cohen, The RBC Millennium Trust, The Jill Cohen Mill Trust ×4 filings | Feb. 23, 2024 | — | Initial filing | — | SEC |
| SVF II SPAC Investment 3 (DE) LLC, SVF II Holdings (DE) LLC, SVF II Aggregator (Jersey) L.P., SoftBank Vision Fund II-2 L.P., SB Global Advisers Limited, SB Northstar LP, SB Northstar GP, SVF II Strategic Investments AIV LLC, Sunlight Investment Corp., SoftBank Group Corp. ×3 filings | July 25, 2023 | — | 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 61 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 |
|---|---|---|---|---|
| AIFD · TCW ETF Trust | 2.70% | 48,993 NS | April 30, 2026 | N-PORT |
| ABLD · Abacus FCF ETF Trust | 2.03% | 29,287 NS | April 30, 2026 | N-PORT |
| ARKQ · ARK ETF Trust | 1.89% | 671,818 NS | April 30, 2026 | N-PORT |
| SUPP · TCW ETF Trust | 1.66% | 3,401 NS | April 30, 2026 | N-PORT |
| ROBO · EXCHANGE TRADED CONCEPTS TRUST | 1.65% | 493,942 NS | April 30, 2026 | N-PORT |
| RNIN · EA Series Trust | 1.29% | 33,378 NS | April 30, 2026 | N-PORT |
| BOTZ · Global X Funds | 1.18% | 948,192 NS | May 31, 2026 | N-PORT |
| FBOT · Fidelity Covington Trust | 1.13% | 51,623 NS | May 31, 2026 | N-PORT |
| ABFL · Abacus FCF ETF Trust | 0.82% | 68,888 NS | April 30, 2026 | N-PORT |
| SHPP · Pacer Funds Trust | 0.35% | 119 NS | April 30, 2026 | N-PORT |
| FNY · First Trust Exchange-Traded AlphaDE… | 0.29% | 25,777 NS | April 30, 2026 | N-PORT |
| QQQJ · Invesco Exchange-Traded Fund Trust … | 0.25% | 72,531 SH | Aug. 8, 2026 | Daily |
| TRFM · ETF Series Solutions | 0.24% | 6,195 NS | April 30, 2026 | N-PORT |
| BULD · Pacer Funds Trust | 0.18% | 145 NS | April 30, 2026 | N-PORT |
| GSEW · Goldman Sachs ETF Trust | 0.15% | 58,524 NS | May 31, 2026 | N-PORT |
| RILA · Spinnaker ETF Series | 0.14% | 971 NS | April 30, 2026 | N-PORT |
| MADE · iShares Trust | 0.10% | 1,698 SH | Aug. 8, 2026 | Daily |
| SMLF · iShares Trust | 0.09% | 98,662 SH | Aug. 8, 2026 | Daily |
| FAD · First Trust Exchange-Traded AlphaDE… | 0.09% | 7,093 NS | April 30, 2026 | N-PORT |
| GINN · Goldman Sachs ETF Trust | 0.09% | 3,923 NS | May 31, 2026 | N-PORT |
| ISCG · iShares Trust | 0.08% | 20,103 SH | Aug. 8, 2026 | Daily |
| FNX · First Trust Exchange-Traded AlphaDE… | 0.08% | 17,062 NS | April 30, 2026 | N-PORT |
| BBMC · J.P. Morgan Exchange-Traded Fund Tr… | 0.07% | 25,348 NS | April 30, 2026 | N-PORT |
| SCHA · SCHWAB STRATEGIC TRUST | 0.06% | 284,974 NS | May 31, 2026 | N-PORT |
| JSTC · Tidal Trust I | 0.05% | 3,750 NS | May 31, 2026 | N-PORT |
| IGPT · Invesco Exchange-Traded Fund Trust | 0.05% | 14,273 SH | Aug. 8, 2026 | Daily |
| FIDU · FIDELITY COVINGTON TRUST | 0.04% | 14,936 NS | April 30, 2026 | N-PORT |
| VBK · VANGUARD INDEX FUNDS | 0.04% | 440,026 SH | Aug. 8, 2026 | Daily |
| VIS · VANGUARD WORLD FUND | 0.04% | 80,316 SH | Aug. 8, 2026 | Daily |
| ESML · iShares Trust | 0.04% | 29,031 SH | Aug. 8, 2026 | Daily |
| ISCB · iShares Trust | 0.04% | 2,892 SH | Aug. 8, 2026 | Daily |
| VXF · VANGUARD INDEX FUNDS | 0.03% | 687,906 SH | Aug. 8, 2026 | Daily |
| VOT · VANGUARD INDEX FUNDS | 0.03% | 252,977 SH | Aug. 8, 2026 | Daily |
| TECB · iShares Trust | 0.03% | 3,607 SH | Aug. 8, 2026 | Daily |
| WSML · iShares Trust | 0.03% | 4,237 SH | Aug. 8, 2026 | Daily |
| AVMC · AMERICAN CENTURY ETF TRUST | 0.02% | 2,134 NS | May 31, 2026 | N-PORT |
| VUG · VANGUARD INDEX FUNDS | 0.02% | 1,999,782 SH | Aug. 8, 2026 | Daily |
| VB · VANGUARD INDEX FUNDS | 0.02% | 759,253 SH | Aug. 8, 2026 | Daily |
| GSLC · Goldman Sachs ETF Trust | 0.02% | 62,734 NS | May 31, 2026 | N-PORT |
| ONEQ · Fidelity Commonwealth Trust | 0.01% | 33,487 NS | May 31, 2026 | N-PORT |
| VO · VANGUARD INDEX FUNDS | 0.01% | 712,850 SH | Aug. 8, 2026 | Daily |
| VEGN · ETF Series Solutions | 0.01% | 244 NS | April 30, 2026 | N-PORT |
| DFUS · Dimensional ETF Trust | 0.01% | 24,590 NS | April 30, 2026 | N-PORT |
| TILT · FlexShares Trust | 0.01% | 2,310 NS | April 30, 2026 | N-PORT |
| BKLC · BNY Mellon ETF Trust | 0.01% | 5,165 NS | April 30, 2026 | N-PORT |
| AVUQ · AMERICAN CENTURY ETF TRUST | 0.01% | 286 NS | May 31, 2026 | N-PORT |
| ONOF · Global X Funds | 0.00% | 141 NS | May 31, 2026 | N-PORT |
| GXLC · Global X Funds | 0.00% | 4 NS | May 31, 2026 | N-PORT |
| GUSA · Goldman Sachs ETF Trust II | 0.00% | 2,051 NS | May 31, 2026 | N-PORT |
| SCHK · SCHWAB STRATEGIC TRUST | 0.00% | 4,876 NS | May 31, 2026 | N-PORT |