TEAD Teads Holding Co. - Common Stock
About Teads Holding Co. - Common Stock Company overview from Wikipedia
Outbrain is a web recommendation platform founded in 2006 by co-founder and Co-CEO Yaron Galai and co-founder, Chief Technology Officer and General Manager, Ori Lahav. The company is headquartered in New York City.
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Outbrain is a web recommendation platform founded in 2006 by co-founder and Co-CEO Yaron Galai and co-founder, Chief Technology Officer and General Manager, Ori Lahav. The company is headquartered in New York City.
In February 2024, Yaron Galai resigned.
The company generates revenue for online publishers by displaying feeds of content and ads, or boxes of links, known as chumboxes, to pages within a website or mobile platform. Advertisers pay Outbrain on a pay-per-click basis and a portion of that revenue is shared with publishers.
The quality of Outbrain's recommendations has been debated.
Products
Outbrain is a native advertising company. It uses targeted advertising to recommend articles, slideshows, blog posts, photos or videos to a reader. Some of the content recommended by Outbrain link to publisher's own content, while others link to other sites.
As of March 2019, Outbrain's promoted articles are found on 108,121 websites. In 2020, Outbrain delivered an average of 10 billion recommendations daily for over 20,000 advertisers.
History
Outbrain first marketed its content discovery platform in 2006.
It was founded by Yaron Galai and Ori Lahav, who were both officers in the Israeli Navy. Galai sold his company Quigo to AOL in 2007 for $363 million. Lahav worked at Shopping.com, acquired by eBay in 2005.
The company is headquartered in New York with global offices in London, San Francisco, Chicago, Washington, D.C., Cologne, Gurugram, Paris, Ljubljana, Munich, Milan, Madrid, Tokyo, São Paulo, Netanya, Singapore, and Sydney.
Outbrain went public in July 2021. The company offered 8 million shares in the IPO, bringing in $160 million.
Mergers and acquisitions
Outbrain has acquired 6 companies—related content recommendation platform, Surphace (February 2011), content curation platform, Scribit (December 2012), and predictive analytics company, Visual Revenue (March 2013). In early 2016, Outbrain acquired technology company Revee. In July 2017, Outbrain acquired Zemanta. In February 2019, Outbrain acquired Ligatus.
In October 2019, Outbrain announced its intention to merge with Taboola under the Taboola brand. In September 2020, Taboola and Outbrain ceased merger discussions.
In August 2024, Outbrain and Teads announced plans to merge in "an approximately $1 billion transaction".
In February 2025, Outrain announced the closing of its acquisition of Teads, following receipt of all necessary regulatory approvals. Following Outbrain’s acquisition of Teads in February 2025, they announced in June that the combined company has completed its corporate renaming from “Outbrain Inc.” to “Teads Holding Co.”
Business model
Advertisers typically pay on a pay-per-click basis and publishers generate income from external clicks. Approximately 75% of that revenue is paid to the site or app which presented the Outbrain link. Outbrain shares advertising revenue with publishers who implement their feeds or links on their sites, which are sometimes referred to as chumboxes.
Reception
Outbrain has often been compared with competitor Taboola. One way that Outbrain claimed to distinguish itself from Taboola was that it tried to pre-filter spammy links before displaying them, whereas Taboola had a feature called Taboola Choice, where users can offer feedback on what recommendations they do not like.
Both Outbrain and Taboola have been described by Internet commentators as alternatives to Google AdSense that content publishers could consider for revenue streams.
In November 2012, in response to criticism of it for low-quality links, Outbrain decided to cut off showing such links and stated that doing so would cause it a 25% revenue cut, but that it was important for its long-term reputation with publishers and users. In 2021, Outbrain revamped its algorithm to incorporate machine learning and artificial intelligence to improve the quality of its ads. However, the quality of Outbrain's recommendations have been debated.
Source: Wikipedia, CC BY-SA 4.0 · View on Wikipedia ↗
TEAD Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
TEAD Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view
10-Year Performance Revenue, net income, margins and EPS trends
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Financial Health Debt, liquidity, solvency — balance sheet strength
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
TEAD Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
- Strong Buy 2 22.2%
- Buy 4 44.4%
- Hold 3 33.3%
- Sell 0 0.0%
- Strong Sell 0 0.0%
12-Month Price Target
2 analysts · 2026-08-18Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| June 30, 2026 | $-0.41 | $-0.23 | -0.18% |
| March 31, 2026 | $-0.38 | $-0.51 | 0.13% |
| Dec. 31, 2025 | $0.00 | $-0.12 | 0.12% |
| Sept. 30, 2025 | $-0.21 | $-0.10 | -0.11% |
| June 30, 2025 | $-0.16 | $-0.05 | -0.11% |
| March 31, 2025 | $-0.20 | $-0.10 | -0.10% |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| TEAD | $68M | -0.1 | 46.1% | -39.8% | -164.8% | 33.0% |
| ANGI | — | 13.8 | -13.0% | 4.2% | 4.5% | 95.4% |
| GETY | — | -2.7 | 4.5% | — | — | — |
| BZFD | — | — | — | — | — | — |
| TZOO | $78M | 17.4 | 9.3% | 5.1% | -117.8% | 80.3% |
| IZEA | $76M | — | -12.9% | 0.14% | 0.09% | — |
| GAME | $38M | -0.6 | 63.4% | -89.1% | -168.3% | 43.4% |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement 17
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $1.30B | $890M | $936M | $992M | $1.02B | $767M | $687M | |
| Cost of Revenue | $771M | $654M | $708M | $757M | $744M | $573M | $517M | |
| Gross Profit | $429M | $192M | $185M | $193M | $240M | $165M | $142M | |
| R&D Expense | $44M | $37M | $36M | $40M | $39M | $29M | $26M | |
| SG&A Expense | $124M | $70M | $58M | $57M | $71M | $48M | $51M | |
| Operating Expenses | $828M | $205M | $193M | $206M | $206M | $155M | $156M | |
| Operating Income | $-399M | $-13M | $-9M | $-14M | $35M | $10M | $-15M | |
| Interest Expense | · | · | $5M | $8M | $4M | $832.0K | $601.0K | |
| Other Non-op | $-79M | $14M | $25M | $-5M | $-49M | $-3M | $-449.0K | |
| Pretax Income | $-478M | $2M | $16M | $-19M | $-15M | $8M | $-15M | |
| Income Tax | $39M | $2M | $6M | $6M | $-26M | $3M | $5M | |
| Net Income | $-517M | $-711.0K | $10M | $-25M | $11M | $4M | $-21M | |
| EPS (Basic) | $-5.69 | $-0.01 | $0.20 | $-0.44 | $0.31 | $0.10 | $-1.34 | |
| EPS (Diluted) | $-5.69 | $-0.11 | $-0.06 | $-0.44 | $0.20 | $0.08 | $-1.34 | |
| Shares (Basic) | 90,855,702 | 49,321,301 | 50,900,422 | 55,615,385 | 35,159,757 | 16,816,178 | 15,275,129 | |
| Shares (Diluted) | 90,855,702 | 52,709,356 | 56,965,299 | 55,615,385 | 53,894,347 | 20,186,802 | 15,275,129 | |
| EBITDA | $-399M | $-13M | $-9M | $-14M | $35M | · | · |
Balance Sheet 29
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $128M | $89M | $71M | $106M | $455M | $94M | $50M | |
| Short-term Investments | $10M | $77M | $94M | $167M | $0 | · | · | |
| Receivables | $342M | $149M | $189M | $181M | $193M | $165M | · | |
| Prepaid Expense | $49M | $28M | $47M | $47M | $28M | $18M | · | |
| Current Assets | $530M | $343M | $402M | $501M | $676M | $277M | · | |
| PP&E (Net) | · | · | · | · | $28M | $25M | · | |
| PP&E (Gross) | $184M | $164M | $148M | $134M | $102M | $93M | · | |
| Accum. Depreciation | $133M | $119M | $105M | $94M | $74M | $68M | · | |
| Goodwill | $281M | $63M | $63M | $63M | $33M | $33M | · | |
| Intangibles | $377M | $17M | $20M | $25M | $6M | $10M | · | |
| Other Non-current Assets | $22M | $25M | $21M | $28M | $20M | $9M | · | |
| Total Assets | $1.33B | $549M | $665M | $781M | $796M | $356M | · | |
| Accounts Payable | $259M | $207M | $151M | $148M | $161M | $118M | · | |
| Short-term Debt | $18M | $0 | · | · | · | · | · | |
| Current Liabilities | $484M | $289M | $298M | $300M | $288M | $257M | · | |
| Capital Leases | $22M | $12M | $9M | $8M | $0 | · | · | |
| Deferred Tax | $73M | $2M | · | · | · | · | · | |
| Other Non-current Liabilities | $14M | $6M | $17M | $19M | $15M | $17M | · | |
| Total Liabilities | $1.23B | $318M | $442M | $563M | $539M | $274M | · | |
| Long-term Debt | $605M | $0 | $118M | $236M | $236M | $0 | · | |
| Total Debt | $18M | · | · | · | · | · | · | |
| Common Stock | $96.0K | $64.0K | $62.0K | $60.0K | $58.0K | $17.0K | · | |
| Paid-in Capital | $686M | $485M | $469M | $456M | $435M | $95M | · | |
| Retained Earnings | $-687M | $-169M | $-169M | $-179M | $-157M | $-168M | · | |
| Treasury Stock | $533.0K | $74M | $68M | $49M | $17M | $2M | · | |
| AOCI | $97M | $-9M | $-9M | $-10M | $-4M | $-4M | · | |
| Stockholders' Equity | $95M | $231M | $223M | $218M | $257M | $-80M | $-90M | |
| Liabilities + Equity | $1.33B | $549M | $665M | $781M | $796M | $356M | · | |
| Shares Outstanding | 95,980,437 | 63,503,274 | 61,567,520 | 60,175,020 | 58,015,075 | 17,439,488 | 16,837,232 |
Cash Flow 15
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Stock-based Comp | $14M | $15M | $12M | $12M | $26M | $4M | $4M | |
| Deferred Tax | $28M | $-5M | $-4M | $-4M | $-32M | $-2M | $-141.0K | |
| Amort. of Intangibles | $48M | $3M | $4M | $6M | $4M | $4M | $4M | |
| Restructuring | $15M | $742.0K | $4M | · | · | · | · | |
| Operating Cash Flow | $8M | $69M | $14M | $4M | $57M | $53M | $17M | |
| CapEx | $6M | $7M | $10M | $13M | $10M | $2M | $2M | |
| Investing Cash Flow | $-554M | $67M | $70M | $-318M | $-20M | $-9M | $-8M | |
| Net Debt Issued | $-8M | $-110M | $-96M | · | · | · | · | |
| Stock Repurchased | $646.0K | $7M | $19M | $33M | $14M | $280.0K | · | |
| Net Stock Activity | $-646.0K | $-7M | $-19M | $-33M | · | · | · | |
| Financing Cash Flow | $585M | $-118M | $-117M | $-32M | $326M | $-4M | $-4M | |
| Net Change in Cash | $40M | $19M | $-35M | $-350M | $362M | $44M | $6M | |
| Taxes Paid | $24M | $10M | $9M | $7M | $7M | $3M | $5M | |
| Free Cash Flow | $2M | $61M | $4M | $-10M | $47M | · | · | |
| Levered FCF | · | · | $241.7K | $-20M | $50M | · | · |
Profitability 8
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 33.0% | 21.6% | 19.8% | 19.4% | 23.7% | · | · | |
| Operating Margin | -30.7% | -1.4% | -0.92% | -1.4% | 3.4% | · | · | |
| Net Margin | -39.8% | -0.08% | 1.1% | -2.5% | 1.1% | · | · | |
| Pretax Margin | -36.7% | 0.19% | 1.8% | -1.9% | -1.4% | · | · | |
| EBITDA Margin | -30.7% | -1.4% | -0.92% | -1.4% | 3.4% | · | · | |
| ROA | -55.1% | -0.12% | 1.4% | -3.1% | 1.9% | · | · | |
| ROE | -164.8% | -0.31% | 4.6% | -11.1% | 4.6% | · | · | |
| ROIC | -382.1% | 2.3% | -2.4% | -8.2% | -10.2% | · | · |
Liquidity & Solvency 4
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.1 | 1.2 | 1.4 | 1.7 | 2.3 | · | · | |
| Quick Ratio | 1.0 | 1.1 | 1.2 | 1.5 | 2.2 | · | · | |
| Debt / Equity | 0.2 | · | · | · | · | · | · | |
| Interest Coverage | · | · | -1.6 | -1.8 | 8.7 | · | · |
Efficiency 2
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 1.4 | 1.5 | 1.3 | 1.3 | 1.8 | · | · | |
| Receivables Turnover | 5.3 | 5.3 | 5.1 | 5.3 | 5.7 | · | · |
Growth Rates 6
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Revenue YoY | 46.1% | -4.9% | -5.7% | -2.3% | 32.4% | · | · | |
| Revenue CAGR 3Y | 9.4% | -4.3% | 6.9% | · | · | · | · | |
| Revenue CAGR 5Y | 11.1% | · | · | · | · | · | · | |
| EPS YoY | · | · | · | · | 150.0% | · | · | |
| Net Income YoY | · | · | · | · | 152.3% | · | · | |
| Net Income CAGR 3Y | · | · | 33.0% | · | · | · | · |
Valuation (TTM) 14
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $1.30B | $890M | $936M | $992M | $1.02B | · | · | |
| Net Income TTM | $-517M | $-711.0K | $10M | $-25M | $11M | · | · | |
| Market Cap | $68M | $360M | $218M | $189M | $794M | · | · | |
| Enterprise Value | $-54M | · | · | · | · | · | · | |
| P/E | -0.1 | -65.3 | -73.0 | -8.2 | 70.0 | · | · | |
| P/S | 0.1 | 0.4 | 0.2 | 0.2 | 0.8 | · | · | |
| P/B | 0.7 | 1.6 | 1.0 | 0.9 | 3.1 | · | · | |
| P / Tangible Book | · | 2.4 | 1.6 | 1.5 | 3.6 | · | · | |
| P / Cash Flow | 8.9 | 5.2 | 15.8 | 49.6 | 14.0 | · | · | |
| P / FCF | 33.8 | 5.9 | 60.2 | -19.8 | 16.9 | · | · | |
| EV / EBITDA | 0.1 | · | · | · | · | · | · | |
| EV / FCF | -26.8 | · | · | · | · | · | · | |
| EV / Revenue | -0.0 | · | · | · | · | · | · | |
| Earnings Yield | -808.2% | -1.5% | -1.4% | -12.2% | 1.4% | · | · |
Income Statement 17
| 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 | $285M | $266M | $352M | $319M | $343M | $286M | $235M | $224M | $214M | $217M | $248M | $230M | $226M | $232M | $258M | $229M | |
| Cost of Revenue | $161M | $158M | $200M | $188M | $199M | $183M | $166M | $164M | $158M | $165M | $184M | $173M | $171M | $180M | $199M | $176M | |
| Gross Profit | $96M | $84M | $120M | $106M | $120M | $83M | $56M | $49M | $46M | $42M | $53M | $46M | $44M | $41M | $48M | $42M | |
| R&D Expense | $11M | $11M | $6M | $11M | $13M | $14M | $9M | $9M | $9M | $9M | $8M | $9M | $10M | $9M | $9M | $10M | |
| SG&A Expense | $28M | $27M | $28M | $32M | $28M | $36M | $18M | $20M | $17M | $15M | $13M | $14M | $16M | $15M | $16M | $12M | |
| Operating Expenses | $111M | $105M | $466M | $112M | $123M | $127M | $54M | $52M | $51M | $48M | $48M | $44M | $52M | $50M | $52M | $49M | |
| Operating Income | $-16M | $-22M | $-346M | $-6M | $-2M | $-44M | $3M | $-3M | $-6M | $-7M | $6M | $3M | $-8M | $-9M | $-4M | $-7M | |
| Interest Expense | · | · | · | · | · | · | · | · | $569.0K | $937.0K | · | $1M | $1M | $2M | · | $2M | |
| Other Non-op | $-20M | $-18M | $-19M | $-18M | $-18M | $-24M | $823.0K | $11M | $2M | $468.0K | $1M | $-1M | $23M | $2M | $2M | $1M | |
| Pretax Income | $-35M | $-40M | $-365M | $-24M | $-20M | $-68M | $3M | $8M | $-3M | $-6M | $7M | $2M | $15M | $-7M | $-1M | $-6M | |
| Income Tax | $7M | $-988.0K | $63M | $-5M | $-6M | $-13M | $4M | $1M | $-1M | $-1M | $3M | $1M | $4M | $-2M | $7M | $-1M | |
| Net Income | $-42M | $-39M | $-428M | $-20M | $-14M | $-55M | $-167.0K | $7M | $-2M | $-5M | $4M | $508.0K | $11M | $-6M | $-8M | $-5M | |
| EPS (Basic) | $-0.44 | $-0.40 | $-4.63 | $-0.21 | $-0.15 | $-0.70 | $-0.01 | $0.14 | $-0.04 | $-0.10 | $0.08 | $0.01 | $0.22 | $-0.11 | $-0.15 | $-0.08 | |
| EPS (Diluted) | $-0.44 | $-0.40 | $-4.63 | $-0.21 | $-0.15 | $-0.70 | $0.02 | $0.01 | $-0.04 | $-0.10 | $0.13 | $0.01 | $-0.09 | $-0.11 | $-0.15 | $-0.08 | |
| Shares (Basic) | 97,299,602 | 96,279,745 | -176,705,477 | 95,113,669 | 94,492,931 | 77,954,579 | -98,191,246 | 49,325,518 | 48,922,017 | 49,265,012 | -102,640,049 | 50,881,194 | 51,223,988 | 51,435,289 | -114,444,546 | 55,232,611 | |
| Shares (Diluted) | 97,299,602 | 96,279,745 | -176,705,477 | 95,113,669 | 94,492,931 | 77,954,579 | -99,385,731 | 53,908,058 | 48,922,017 | 49,265,012 | -102,336,724 | 51,240,968 | 56,625,766 | 51,435,289 | -114,444,546 | 55,232,611 | |
| EBITDA | $-16M | $-22M | · | $-6M | $-2M | $-44M | · | $-3M | $-6M | $-7M | · | $3M | $-8M | $-9M | · | $-7M |
Balance Sheet 28
| 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 | $88M | $85M | $128M | $131M | $149M | $136M | $89M | $57M | $75M | $71M | $71M | $65M | $60M | $73M | $106M | $138M | |
| Short-term Investments | $3M | $13M | $10M | $8M | $17M | $20M | $77M | $73M | $88M | $92M | · | $104M | $113M | $179M | · | $136M | |
| Receivables | $282M | $279M | $342M | $312M | $338M | $328M | $149M | $158M | $154M | $156M | · | $171M | $169M | $181M | · | $166M | |
| Prepaid Expense | $33M | $49M | $49M | $43M | $47M | $50M | $28M | $38M | $40M | $39M | · | $47M | $47M | $48M | · | $43M | |
| Current Assets | $406M | $426M | $530M | $494M | $551M | $534M | $343M | $326M | $357M | $359M | · | $387M | $389M | $481M | · | $482M | |
| PP&E (Gross) | $196M | $190M | $184M | $178M | $173M | $169M | $164M | $160M | $156M | $151M | · | $149M | $144M | $139M | · | · | |
| Accum. Depreciation | $141M | $137M | $133M | $129M | $125M | $121M | $119M | $116M | $113M | $109M | · | $106M | $102M | $99M | · | · | |
| Goodwill | $274M | $276M | $281M | $633M | $633M | $587M | $63M | $63M | $63M | $63M | $63M | $63M | $63M | $63M | · | $63M | |
| Intangibles | $343M | $358M | $377M | $390M | $403M | $391M | $17M | $18M | $19M | $20M | · | $21M | $22M | $23M | · | $26M | |
| Other Non-current Assets | $19M | $21M | $22M | $23M | $24M | $24M | $25M | $21M | $20M | $20M | · | $21M | $24M | $26M | · | $23M | |
| Total Assets | $1.16B | $1.20B | $1.33B | $1.71B | $1.77B | $1.69B | $549M | $530M | $626M | $627M | · | $630M | $634M | $746M | · | $753M | |
| Accounts Payable | $215M | $211M | $259M | $266M | $290M | $274M | $207M | $123M | $129M | $140M | · | $126M | $141M | $138M | · | $129M | |
| Short-term Debt | $7M | $17M | $18M | $18M | $18M | $16M | $0 | · | · | · | · | · | · | · | · | · | |
| Current Liabilities | $413M | $409M | $484M | $455M | $503M | $473M | $289M | $273M | $261M | $261M | · | $267M | $267M | $275M | · | $266M | |
| Capital Leases | $20M | $21M | $22M | $18M | $20M | $20M | $12M | $13M | $13M | $14M | · | $10M | $11M | $9M | · | $9M | |
| Deferred Tax | $65M | $67M | $73M | $63M | $67M | $62M | $2M | · | · | · | · | · | · | · | · | · | |
| Other Non-current Liabilities | $12M | $13M | $14M | $13M | $12M | $11M | $6M | $18M | $18M | $16M | · | $18M | $17M | $18M | · | $17M | |
| Total Liabilities | $1.15B | $1.15B | $1.23B | $1.19B | $1.24B | $1.21B | $318M | $303M | $410M | $410M | · | $412M | $413M | $538M | · | $528M | |
| Long-term Debt | $607M | $606M | $605M | $604M | $603M | $611M | $0 | $0 | $118M | $118M | · | $118M | $118M | $236M | · | $236M | |
| Total Debt | $7M | $17M | · | $18M | $18M | $16M | · | · | · | · | · | · | · | · | · | · | |
| Common Stock | $98.0K | $97.0K | $96.0K | $96.0K | $95.0K | $94.0K | $64.0K | $63.0K | $63.0K | $62.0K | · | $61.0K | $61.0K | $60.0K | · | $60.0K | |
| Paid-in Capital | $690M | $688M | $686M | $682M | $678M | $674M | $485M | $480M | $476M | $472M | · | $465M | $462M | $459M | · | $453M | |
| Retained Earnings | $-768M | $-725M | $-687M | $-258M | $-239M | $-224M | $-169M | $-169M | $-176M | $-174M | · | $-173M | $-173M | $-185M | · | $-174M | |
| Treasury Stock | $646.0K | $571.0K | $533.0K | $526.0K | $440.0K | $242.0K | $74M | $74M | $74M | $72M | · | $62M | $57M | $56M | · | $42M | |
| AOCI | $85M | $88M | $97M | $96M | $92M | $25M | $-9M | $-10M | $-10M | $-9M | · | $-12M | $-12M | $-11M | · | $-11M | |
| Stockholders' Equity | $7M | $50M | $95M | $519M | $532M | $475M | $231M | $227M | $216M | $217M | $223M | $218M | $220M | $208M | $218M | $225M | |
| Liabilities + Equity | $1.16B | $1.20B | $1.33B | $1.71B | $1.77B | $1.69B | $549M | $530M | $626M | $627M | · | $630M | $634M | $746M | · | $753M | |
| Shares Outstanding | 98,065,162 | 96,991,430 | 95,980,437 | 95,469,264 | 94,969,026 | 94,293,190 | 50,090,114 | 49,654,192 | 49,215,351 | 49,091,230 | 61,567,520 | 50,598,994 | 51,305,013 | 51,146,939 | 60,175,020 | 53,583,382 |
Cash Flow 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock-based Comp | $2M | $2M | $3M | $4M | $4M | $3M | $4M | $4M | $5M | $3M | $3M | $3M | $3M | $3M | $3M | $3M | |
| Deferred Tax | $2M | $-6M | $70M | $-11M | $-14M | $-18M | $-664.0K | $311.0K | $-5M | $-174.0K | $-1M | $-3M | $217.0K | $-437.0K | $5M | $-4M | |
| Amort. of Intangibles | $13M | $13M | $13M | $13M | $13M | $8M | $850.0K | $855.0K | $852.0K | $852.0K | $853.0K | $852.0K | $853.0K | $2M | $2M | $2M | |
| Restructuring | $1M | $2M | $6M | $657.0K | $2M | $7M | $0 | $0 | $575.0K | $167.0K | · | · | $2M | $800.0K | · | · | |
| Operating Cash Flow | $9M | $-35M | $7M | $-24M | $25M | $-966.0K | $43M | $14M | $4M | $9M | $25M | $7M | $2M | $-20M | $17M | $-12M | |
| CapEx | $1M | $726.0K | $755.0K | $789.0K | $1M | $3M | $3M | $3M | $805.0K | $1M | $2M | $3M | $1M | $4M | $3M | $496.0K | |
| Investing Cash Flow | $4M | $-9M | $-9M | $3M | $-3M | $-546M | $-8M | $76M | $3M | $-4M | $-14M | $4M | $83M | $-4M | $-43M | $-223M | |
| Stock Repurchased | $75.0K | $38.0K | $7.0K | $86.0K | $198.0K | $355.0K | $210.0K | $168.0K | $2M | $4M | $5M | $6M | $1M | $6M | $7M | $16M | |
| Net Stock Activity | · | $-38.0K | · | · | · | $-355.0K | · | · | · | $-4M | · | · | · | $-6M | · | · | |
| Financing Cash Flow | $-11M | $-136.0K | $-23.0K | $-195.0K | $-11M | $596M | $-808.0K | $-110M | $-2M | $-4M | $-6M | $-6M | $-98M | $-7M | $-7M | $-17M | |
| Net Change in Cash | $3M | $-43M | $-2M | $-19M | $12M | $49M | $32M | $-18M | $4M | $469.0K | $6M | $5M | $-13M | $-32M | $-32M | $-254M | |
| Taxes Paid | $-7M | $-1M | $7M | $4M | $5M | $8M | $-845.0K | $3M | $6M | $2M | $1M | $1M | $4M | $2M | $3M | $1M | |
| Free Cash Flow | · | $-36M | · | · | · | $-4M | · | · | · | $7M | · | · | · | $-24M | · | · | |
| Levered FCF | · | · | · | · | · | · | · | · | · | $6M | · | · | · | $-26M | · | · |
Profitability 8
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 33.6% | 31.4% | · | 33.2% | 35.0% | 28.9% | · | 21.8% | 21.3% | 19.2% | · | 20.2% | 19.5% | 17.8% | · | 18.3% | |
| Operating Margin | -5.5% | -8.2% | · | -2.0% | -0.66% | -15.5% | · | -1.3% | -2.6% | -3.0% | · | 1.1% | -3.4% | -4.0% | · | -3.1% | |
| Net Margin | -14.9% | -14.6% | · | -6.2% | -4.2% | -19.1% | · | 3.0% | -1.0% | -2.3% | · | 0.22% | 5.0% | -2.4% | · | -2.0% | |
| Pretax Margin | -12.4% | -14.9% | · | -7.6% | -5.9% | -23.8% | · | 3.5% | -1.6% | -2.8% | · | 0.66% | 6.8% | -3.2% | · | -2.5% | |
| EBITDA Margin | -5.5% | -8.2% | · | -2.0% | -0.66% | -15.5% | · | -1.3% | -2.6% | -3.0% | · | 1.1% | -3.4% | -4.0% | · | -3.1% | |
| ROA | -2.9% | -2.7% | · | -1.8% | -1.2% | -4.7% | · | 1.0% | · | -0.73% | · | · | 1.6% | -0.72% | · | -0.62% | |
| ROE | -15.8% | -14.8% | · | -5.3% | -3.8% | -15.9% | · | 3.0% | · | -2.4% | · | · | 4.8% | -2.4% | · | -2.1% | |
| ROIC | -130.9% | -31.5% | · | -0.95% | -0.29% | -7.3% | · | -1.1% | · | -2.5% | · | · | -2.6% | -3.4% | · | -2.5% |
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 | 1.0 | 1.0 | · | 1.1 | 1.1 | 1.1 | · | 1.2 | · | 1.4 | · | · | 1.5 | 1.7 | · | 1.8 | |
| Quick Ratio | 0.9 | 0.9 | · | 1.0 | 1.0 | 1.0 | · | 1.1 | · | 1.2 | · | · | 1.3 | 1.6 | · | 1.7 | |
| Debt / Equity | 1.0 | 0.3 | · | 0.0 | 0.0 | 0.0 | · | · | · | · | · | · | · | · | · | · | |
| Interest Coverage | · | · | · | · | · | · | · | · | -9.9 | -7.0 | · | 1.8 | -6.9 | -5.0 | · | -3.7 |
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 | 0.2 | 0.2 | · | 0.3 | 0.3 | 0.2 | · | 0.3 | · | 0.3 | · | · | 0.3 | 0.3 | · | 0.3 | |
| Receivables Turnover | 0.9 | 0.9 | · | 1.4 | 1.3 | 1.2 | · | 1.4 | · | 1.3 | · | · | 1.3 | 1.3 | · | 1.4 |
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 | $1.21B | $1.21B | · | $1.17B | $1.07B | $942M | · | $885M | $887M | $905M | · | $917M | $937M | $966M | · | $985M | |
| Net Income TTM | $-115M | $-128M | · | $-82M | $-65M | $-55M | · | $-36.0K | $5M | $1M | · | $2M | $-9M | $-22M | · | $-71M | |
| Market Cap | $75M | $64M | · | $158M | $236M | $352M | · | $241M | · | $194M | · | · | $252M | $211M | · | $196M | |
| Enterprise Value | $-9M | $-18M | · | $37M | $87M | $212M | · | · | · | · | · | · | · | · | · | · | |
| P/E | -0.6 | -0.5 | · | -1.6 | -2.8 | -4.5 | · | -40.5 | -22.6 | -13.6 | · | -18.0 | -10.7 | -10.3 | · | -2.6 | |
| P/S | 0.1 | 0.1 | · | 0.1 | 0.2 | 0.4 | · | 0.3 | · | 0.2 | · | · | 0.3 | 0.2 | · | 0.2 | |
| P/B | 10.2 | 1.3 | · | 0.3 | 0.4 | 0.7 | · | 1.1 | · | 0.9 | · | · | 1.1 | 1.0 | · | 0.9 | |
| P / Tangible Book | · | · | · | · | · | · | · | 1.6 | · | 1.4 | · | · | 1.9 | 1.7 | · | 1.4 | |
| P / Cash Flow | · | -1.8 | · | · | · | -364.1 | · | · | · | 22.5 | · | · | · | -10.3 | · | · | |
| P / FCF | · | -1.8 | · | · | · | -90.5 | · | · | · | 26.7 | · | · | · | -8.7 | · | · | |
| EV / EBITDA | 0.6 | 0.8 | · | -5.9 | -38.5 | -4.8 | · | · | · | · | · | · | · | · | · | · | |
| EV / FCF | · | 0.5 | · | · | · | -54.6 | · | · | · | · | · | · | · | · | · | · | |
| EV / Revenue | -0.0 | -0.0 | · | 0.0 | 0.1 | 0.2 | · | · | · | · | · | · | · | · | · | · | |
| Earnings Yield | -156.4% | -221.6% | · | -63.6% | -35.5% | -22.2% | · | -2.5% | -4.4% | -7.3% | · | -5.5% | -9.3% | -9.7% | · | -38.9% |
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 | $1.30B | $890M | $936M | $992M | $1.02B |
| Gross Margin % | 33.0% | 21.6% | 19.8% | 19.4% | 23.7% |
| Operating Margin % | -30.7% | -1.4% | -0.92% | -1.4% | 3.4% |
| Net Income | $-517M | $-711.0K | $10M | $-25M | $11M |
| Diluted EPS | $-5.69 | $-0.11 | $-0.06 | $-0.44 | $0.20 |
Balance Sheet
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Debt / Equity | 0.2 | — | — | — | — |
| Current Ratio | 1.1 | 1.2 | 1.4 | 1.7 | 2.3 |
| Quick Ratio | 1.0 | 1.1 | 1.2 | 1.5 | 2.2 |
Cash Flow
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Free Cash Flow | $2M | $61M | $4M | $-10M | $47M |
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Institutional owners (13F) 93 filers · $14.5M 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.
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 21 (0 vs prior Q) | 20 (+6 vs prior Q) | 25 (-1 vs prior Q) | 30 (+8 vs prior Q) | +2.1M |
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 |
|---|---|---|---|---|
| Value Base Ltd. | $4,411,291 | 5,752,107 | 30.45% | Shares |
| Whitefort Capital Management, LP | $3,534,767 | 4,609,163 | 24.40% | Shares |
| VANGUARD GROUP INC | $1,325,456 | 1,882,750 | 9.15% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $1,213,401 | 1,582,009 | 8.38% | Shares |
| MILLENNIUM MANAGEMENT LLC | $350,146 | 456,573 | 2.42% | Shares |
| BRIDGEWAY CAPITAL MANAGEMENT, LLC | $345,029 | 449,901 | 2.38% | Shares |
| BANK OF AMERICA CORP /DE/ | $271,457 | 354,382 | 1.87% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $254,030 | 331,152 | 1.75% | Shares |
| Empowered Funds, LLC | $244,949 | 319,401 | 1.69% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $160,966 | 209,892 | 1.11% | Shares |
| PARTNERS CAPITAL INVESTMENT GROUP, LLP | $160,594 | 209,407 | 1.11% | Shares |
| GOLDMAN SACHS GROUP INC | $153,581 | 200,262 | 1.06% | Shares |
| Nuveen Asset Management, LLC | $146,975 | 20,470 | 1.01% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $144,904 | 188,923 | 1.00% | Shares |
| STATE STREET CORP | $133,586 | 174,190 | 0.92% | Shares |
| TWO SIGMA INVESTMENTS, LP | $123,515 | 161,058 | 0.85% | Shares |
| TWO SIGMA ADVISERS, LP | $111,568 | 158,500 | 0.77% | Shares |
| Qube Research & Technologies Ltd | $96,501 | 125,832 | 0.67% | Shares |
| IA Venture Strategies Fund II, LP | $95,808 | 136,091 | 0.66% | Shares |
| RBF Capital, LLC | $84,359 | 110,000 | 0.58% | Shares |
| CITADEL ADVISORS LLC | $78,454 | 102,300 | 0.54% | Call option |
| BlackRock, Inc. | $74,997 | 97,792 | 0.52% | Shares |
| Point72 Asset Management, L.P. | $73,831 | 96,272 | 0.51% | Shares |
| IEQ CAPITAL, LLC | $63,999 | 83,451 | 0.44% | Shares |
| Yelin Lapidot Holdings Management Ltd. | $61,321 | 79,959 | 0.42% | Shares |
| EVERGREEN CAPITAL MANAGEMENT LLC | $60,994 | 79,532 | 0.42% | Shares |
| NORTHERN TRUST CORP | $51,531 | 67,194 | 0.36% | Shares |
| BARCLAYS PLC | $49,608 | 64,687 | 0.34% | Shares |
| Robertson Stephens Wealth Management, LLC | $44,632 | 58,198 | 0.31% | Shares |
| JANE STREET GROUP, LLC | $38,192 | 49,800 | 0.26% | Call option |
| CITADEL ADVISORS LLC | $37,941 | 49,473 | 0.26% | Shares |
| HSBC HOLDINGS PLC | $37,006 | 49,493 | 0.26% | Shares |
| Mariner, LLC | $29,983 | 39,093 | 0.21% | Shares |
| FMR LLC | $29,169 | 38,035 | 0.20% | Shares |
| CastleKnight Management LP | $26,850 | 35,011 | 0.19% | Shares |
| WEALTH ENHANCEMENT ADVISORY SERVICES, LLC | $22,909 | 27,772 | 0.16% | Shares |
| MERCER GLOBAL ADVISORS INC /ADV | $20,077 | 26,179 | 0.14% | Shares |
| CWM, LLC | $19,916 | 30,240 | 0.14% | Shares |
| JANE STREET GROUP, LLC | $19,456 | 25,370 | 0.13% | Shares |
| Arax Advisory Partners | $17,622 | 22,979 | 0.12% | Shares |
| Engineers Gate Manager LP | $15,734 | 20,517 | 0.11% | Shares |
| Abel Hall, LLC | $14,590 | 19,025 | 0.10% | Shares |
| Jasper Ridge Partners, L.P. | $13,703 | 17,868 | 0.09% | Shares |
| Callan Family Office, LLC | $13,431 | 17,514 | 0.09% | Shares |
| Proficio Capital Partners LLC | $13,024 | 16,983 | 0.09% | Shares |
| SmartHarvest Portfolios, LLC | $12,590 | 16,417 | 0.09% | Shares |
| HighTower Advisors, LLC | $12,176 | 15,877 | 0.08% | Shares |
| Creative Planning | $11,461 | 14,945 | 0.08% | Shares |
| TWO SIGMA SECURITIES, LLC | $11,165 | 14,558 | 0.08% | Shares |
| CAPTRUST FINANCIAL ADVISORS | $11,085 | 14,454 | 0.08% | Shares |
| Centiva Capital, LP | $10,757 | 14,026 | 0.07% | Shares |
| Vanguard Personalized Indexing Management, LLC | $10,086 | 13,152 | 0.07% | Shares |
| Wealthcare Advisory Partners LLC | $10,010 | 13,052 | 0.07% | Shares |
| BRIGHTON JONES LLC | $9,216 | 12,017 | 0.06% | Shares |
| Vanguard Global Advisers, LLC | $9,025 | 11,766 | 0.06% | Shares |
| ROYAL BANK OF CANADA | $9,000 | 11,583 | 0.06% | Shares |
| NEUBERGER BERMAN GROUP LLC | $8,859 | 11,551 | 0.06% | Shares |
| Independent Advisor Alliance | $8,697 | 11,341 | 0.06% | Shares |
| Merit Financial Group, LLC | $8,326 | 10,857 | 0.06% | Shares |
| XTX Topco Ltd | $7,719 | 10,065 | 0.05% | Shares |
| MORGAN STANLEY | $6,286 | 8,196 | 0.04% | Shares |
| GROUP ONE TRADING LLC | $5,164 | 6,733 | 0.04% | Shares |
| Tower Research Capital LLC (TRC) | $4,813 | 6,276 | 0.03% | Shares |
| SBI Securities Co., Ltd. | $4,318 | 5,630 | 0.03% | Shares |
| Cerity Partners LLC | $4,089 | 5,332 | 0.03% | Shares |
| AQR CAPITAL MANAGEMENT LLC | $2,926 | 3,815 | 0.02% | Shares |
| Integrated Wealth Concepts LLC | $2,504 | 3,261 | 0.02% | Shares |
| GAMMA Investing LLC | $2,265 | 2,953 | 0.02% | Shares |
| Russell Investments Group, Ltd. | $1,956 | 2,551 | 0.01% | Shares |
| PNC Financial Services Group, Inc. | $1,898 | 2,475 | 0.01% | Shares |
| BNP PARIBAS FINANCIAL MARKETS | $1,492 | 1,946 | 0.01% | Shares |
| Allworth Financial LP | $1,086 | 1,416 | 0.01% | Shares |
| Essential Partners LLC | $1,048 | 1,366 | 0.01% | Shares |
| JPMORGAN CHASE & CO | $808 | 1,014 | 0.01% | Shares |
| Fortitude Family Office, LLC | $558 | 727 | 0.00% | Shares |
| GSA CAPITAL PARTNERS LLP | $430 | 561,120 | 0.00% | Shares |
| ROTHSCHILD INVESTMENT LLC | $383 | 499 | 0.00% | Shares |
| Farther Finance Advisors, LLC | $379 | 490 | 0.00% | Shares |
| OSAIC HOLDINGS, INC. | $354 | 460 | 0.00% | Shares |
| NISA INVESTMENT ADVISORS, LLC | $347 | 452 | 0.00% | Shares |
| True Wealth Design, LLC | $222 | 289 | 0.00% | Shares |
| UBS Group AG | $173 | 225 | 0.00% | Shares |
| EverSource Wealth Advisors, LLC | $137 | 178 | 0.00% | Shares |
| SJS Investment Consulting Inc. | $37 | 47 | 0.00% | Shares |
| IFP Advisors, Inc | $29 | 38 | 0.00% | Shares |
| Sunbelt Securities, Inc. | $24 | 36 | 0.00% | Shares |
| Wealth Enhancement Trust Services, Inc. | $18 | 23 | 0.00% | Shares |
| Harel Insurance Investments & Financial Services Ltd. | $10 | 12,900 | 0.00% | Shares |
| Caitong International Asset Management Co., Ltd | $5 | 7 | 0.00% | Shares |
| JPL Wealth Management, LLC | $4 | 4 | 0.00% | Shares |
| Clearstead Advisors, LLC | $2 | 2 | 0.00% | Shares |
| Avion Wealth | $1 | 1,528 | 0.00% | Shares |
| CITIGROUP INC | $1 | 1 | 0.00% | Shares |
Company insiders 14 insiders · 6 officers · 6 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| David Kostman | Chief Executive Officer | June 5, 2026 F | 1,510,440 | 1 | 0 | $20,943 |
| Yaron Galai | Co-Founder and Co-CEO | June 13, 2022 F | 3,630,190 | 0 | 0 | $0 |
| Jason Kiviat | Chief Financial Officer | June 5, 2026 F | 323,773 | 0 | 0 | $0 |
| Elise Garofalo | Chief Financial Officer | June 13, 2022 F | 339,113 | 0 | 0 | $0 |
| Wenkai Bradshaw | CAO & SVP Corporate Controller | June 5, 2026 F | 164,227 | 0 | 0 | $0 |
| Ori Lahav | Co-Founder, CTO and GM, Israel | April 19, 2022 A | 901,581 | 0 | 0 | $0 |
| Jonathan Cheifetz | Director | Aug. 15, 2022 J | 45,572 | 0 | 0 | $0 |
| Yaffa Krindel | Director | April 21, 2022 A | 24,777 | 0 | 0 | $0 |
| Arne Wolter | Director | Jan. 22, 2022 M | 2,083 | 0 | 0 | $0 |
| Yossi Sela | Director | July 27, 2021 C | 4,921,763 | 0 | 0 | $0 |
| LSVP VII Trust | 10% owner | June 15, 2022 J | 3,153,157 | 0 | 0 | $0 |
| Viola Ventures III, L.P. | 10% owner | July 27, 2021 C | 6,345,789 | 0 | 0 | $0 |
| Shlomo Dovrat | — | May 13, 2026 A | 90,000 | 0 | 0 | $0 |
| Dominique Vidal | — | July 27, 2021 C | 2,470,972 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
Activists & 5%+ owners 1 position
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 |
|---|---|---|---|---|---|
| Patrick Drahi, Altice Teads S.A., Altice International S.a r.l., Altice Luxembourg S.A., Altice Group Lux S.a r.l., Next Alt S.a r.l., Next Luxembourg S.C.Sp, Next Luxembourg Management GP S.a r.l. | Feb. 10, 2025 | 46.80% | Initial filing | Passive investment | 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 7 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 |
|---|---|---|---|---|
| ITWO · ProShares Trust | 0.00% | 1,717 NS | May 31, 2026 | N-PORT |
| RSSL · Global X Funds | 0.00% | 16,301 NS | April 30, 2026 | N-PORT |
| UWM · ProShares Trust | 0.00% | 1,343 NS | May 31, 2026 | N-PORT |
| URTY · ProShares Trust | 0.00% | 1,357 NS | May 31, 2026 | N-PORT |
| HDG · ProShares Trust | 0.00% | 34 NS | May 31, 2026 | N-PORT |
| VXF · VANGUARD INDEX FUNDS | 0.00% | 330,223 SH | Aug. 8, 2026 | Daily |
| VTI · VANGUARD INDEX FUNDS | 0.00% | 1,213,464 SH | Aug. 8, 2026 | Daily |