TKNO Alpha Teknova, Inc. - Common Stock
$7.14
Price · Aug 19, 2026
Fundamentals as of Aug 6, 2026
52W Range
$2–$8
88% of range
Analyst Rating
BUY
12 analysts
Price Target
$9
+21% upside
P/E (TTM)
-22.3
ROE
-23.8%
Net Profit Margin
-42.6%
TKNO Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$7.13
Market Cap
$383M
P/E (TTM)
-22.3
EPS (TTM)
$-0.32
Revenue (TTM)
$41M
Div Yield
—
ROE
-23.8%
Debt/Equity
0.0
52W Range
$2 – $8
TKNO 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
$41M
2020-12-31
→
2025-12-31
EPS
$-0.32
2020-12-31
→
2025-12-31
Free Cash Flow
$-10M
2021-12-31
→
2025-12-31
Margins
-42.6%
2021-12-31
→
2025-12-31
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Metric
5Y trend
TKNO
Peer Median
P/E (TTM)
-22.3
17.5
P/S (TTM)
9.4
3.3
P/B
5.6
2.1
EV / EBITDA
-34.0
—
Price / FCF
-39.1
—
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Metric
5Y trend
TKNO
Peer Median
Gross Margin
33.2%
42.5%
Operating Margin
-41.9%
—
Net Profit Margin
-42.6%
-56.5%
ROA
-15.5%
-17.2%
ROE
-23.8%
-41.3%
ROIC
-24.8%
—
Financial Health Debt, liquidity, solvency — balance sheet strength
Metric
5Y trend
TKNO
Peer Median
Debt / Equity
0.0
369.6
Current Ratio
4.6
4.9
Quick Ratio
3.4
—
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Metric
5Y trend
TKNO
Peer Median
Revenue YoY
7.3%
—
Revenue CAGR 3Y
-0.73%
—
Revenue CAGR 5Y
5.3%
—
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
Metric
5Y trend
TKNO
Peer Median
TKNO Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
BUY
12 analysts
- Strong Buy 4 33.3%
- Buy 5 41.7%
- Hold 3 25.0%
- Sell 0 0.0%
- Strong Sell 0 0.0%
12-Month Price Target
5 analysts · 2026-08-19
Median
$8.00
Mean
$8.60
Now
$7.13
Low
$7.00
High
$12.00
Median target
$8.00
+12.1%
Mean target
$8.60
+20.5%
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
0.02%
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| June 30, 2026 | $-0.06 | $-0.09 | 0.03% |
| March 31, 2026 | $-0.08 | $-0.09 | 0.01% |
| Dec. 31, 2025 | $-0.09 | $-0.09 | 0.00% |
| Sept. 30, 2025 | $-0.08 | $-0.10 | 0.02% |
| June 30, 2025 | $-0.07 | $-0.10 | 0.03% |
| March 31, 2025 | $-0.09 | $-0.11 | 0.02% |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| TKNO | $204M | -11.9 | 7.3% | -42.6% | -23.8% | 33.2% |
| CYRX | $479M | 6.9 | 12.4% | 44.4% | 15.3% | 47.1% |
| CTKB | $649M | 505.0 | 0.52% | -33.0% | -18.5% | 51.8% |
| MLAB | $489M | 73.1 | 3.4% | 2.7% | 3.7% | 63.5% |
| OABI | — | — | — | — | — | — |
| DNA | $484M | -1.5 | -25.1% | -183.8% | -55.8% | — |
| PACB | $565M | -1.0 | 3.9% | -341.5% | -1634.9% | 28.6% |
| LAB | $495M | -6.4 | -6.2% | -87.8% | -17.6% | 49.9% |
| LFCR | $249M | -5.3 | 0.47% | -30.0% | -461.3% | 31.3% |
| CDXS | $147M | -3.3 | 18.6% | -62.5% | -82.8% | — |
| QSI | — | — | — | — | — | — |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement 16
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Revenue | $41M | $38M | $37M | $41M | $37M | $31M | |
| Cost of Revenue | $27M | $31M | $26M | $24M | $19M | $14M | |
| Gross Profit | $13M | $7M | $10M | $17M | $18M | $18M | |
| R&D Expense | $2M | $3M | $6M | $8M | $4M | $2M | |
| SG&A Expense | $20M | $23M | $25M | $28M | $20M | $8M | |
| Operating Expenses | $30M | $33M | $46M | $67M | $30M | $13M | |
| Operating Income | $-17M | $-26M | $-36M | $-50M | $-12M | $5M | |
| Other Non-op | $-225.0K | $-687.0K | $142.0K | $55.0K | $-40.0K | $-24.0K | |
| Pretax Income | $-17M | $-27M | $-37M | $-49M | $-13M | $5M | |
| Income Tax | $58.0K | $-88.0K | $-298.0K | $-2M | $-3M | $1M | |
| Net Income | $-17M | $-27M | $-37M | $-47M | $-10M | $4M | |
| EPS (Basic) | $-0.32 | $-0.57 | $-1.16 | $-1.69 | $-0.61 | $0.17 | |
| EPS (Diluted) | $-0.32 | $-0.57 | $-1.16 | $-1.69 | $-0.61 | $0.16 | |
| Shares (Basic) | 53,483,075 | 46,745,905 | 31,819,776 | 28,083,563 | 16,087,653 | 3,599,232 | |
| Shares (Diluted) | 53,483,075 | 46,745,905 | 31,819,776 | 28,083,563 | 16,087,653 | 3,800,636 | |
| EBITDA | $-11M | $-20M | $-30M | $-46M | $-9M | · |
Balance Sheet 28
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $6M | $4M | $28M | $42M | $88M | $3M | |
| Short-term Investments | $15M | $27M | $0 | · | $0 | $2M | |
| Receivables | $5M | $4M | $4M | $4M | $5M | $5M | |
| Inventory | $7M | $7M | $12M | $12M | $5M | $4M | |
| Prepaid Expense | $2M | $1M | $2M | $2M | $2M | $2M | |
| Current Assets | $35M | $43M | $46M | $61M | $101M | $16M | |
| PP&E (Net) | $42M | $46M | $50M | $52M | $30M | $10M | |
| PP&E (Gross) | · | · | $56M | $28M | $13M | $9M | |
| Accum. Depreciation | $17M | $12M | $8M | $5M | $2M | $995.0K | |
| Goodwill | · | · | · | $0 | $17M | $17M | |
| Intangibles | $12M | $13M | $14M | $18M | $19M | $20M | |
| Other Non-current Assets | $1M | $1M | $2M | $2M | $180.0K | $24.0K | |
| Total Assets | $104M | $119M | $129M | $152M | $167M | $63M | |
| Accounts Payable | $1M | $825.0K | $1M | $2M | $2M | $2M | |
| Accrued Liabilities | $4M | $5M | $6M | $6M | $6M | $2M | |
| Current Liabilities | $8M | $11M | $9M | $11M | $8M | $4M | |
| Capital Leases | $13M | $15M | $15M | $18M | $0 | · | |
| Deferred Tax | $879.0K | $827.0K | $919.0K | $1M | $3M | $6M | |
| Total Liabilities | $35M | $36M | $39M | $52M | $23M | $11M | |
| Long-term Debt | $13M | $9M | $13M | $22M | $12M | $0 | |
| Total Debt | $0 | $4M | · | · | · | · | |
| Common Stock | $1.0K | $1.0K | $0 | $0 | $0 | $0 | |
| Paid-in Capital | $205M | $201M | $182M | $155M | $151M | $14M | |
| Retained Earnings | $-136M | $-119M | $-92M | $-55M | $-8M | $2M | |
| AOCI | · | · | · | · | $0 | $7.0K | |
| Stockholders' Equity | $69M | $82M | $90M | $100M | $143M | $17M | |
| Liabilities + Equity | $104M | $119M | $129M | $152M | $167M | $63M | |
| Shares Outstanding | 53,562,154 | 53,409,727 | 40,793,848 | 28,179,423 | 28,012,017 | 3,599,232 |
Cash Flow 15
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| D&A | $6M | $7M | $6M | $3M | $3M | $2M | |
| Stock-based Comp | $3M | $4M | $4M | $4M | $2M | $300.0K | |
| Amort. of Intangibles | $1M | $1M | $1M | $1M | $1M | $1M | |
| Other Non-cash | $-1M | $4M | $8M | $13M | $-4M | · | |
| Operating Cash Flow | $-9M | $-12M | $-19M | $-27M | $-9M | $3M | |
| CapEx | $1M | $1M | $8M | $28M | $20M | $5M | |
| Investing Cash Flow | $11M | $-27M | $-8M | $-28M | $-18M | $-2M | |
| Debt Issued | · | · | $0 | $10M | $12M | · | |
| Net Debt Issued | · | $0 | $-10M | $10M | $0 | · | |
| Stock Issued | $0 | $15M | $23M | $0 | · | · | |
| Net Stock Activity | $0 | $15M | $23M | · | · | · | |
| Financing Cash Flow | $151.0K | $15M | $13M | $10M | $111M | $-2M | |
| Net Change in Cash | $2M | $-25M | $-14M | $-45M | $84M | $-829.0K | |
| Taxes Paid | $2.0K | $39.0K | · | · | · | · | |
| Free Cash Flow | $-10M | $-14M | $-27M | $-56M | $-29M | · |
Profitability 8
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Gross Margin | 33.2% | 19.2% | 28.1% | 42.2% | 47.8% | · | |
| Operating Margin | -41.9% | -69.3% | -96.9% | -119.9% | -32.6% | · | |
| Net Margin | -42.6% | -70.9% | -100.3% | -114.6% | -26.6% | · | |
| Pretax Margin | -42.4% | -71.1% | -101.1% | -119.2% | -34.2% | · | |
| EBITDA Margin | -26.2% | -51.8% | -81.5% | -112.2% | -24.7% | · | |
| ROA | -15.5% | -21.6% | -26.2% | -29.8% | -8.6% | · | |
| ROE | -23.8% | -31.5% | -38.8% | -44.8% | -6.8% | · | |
| ROIC | -24.8% | -30.1% | -39.2% | -47.8% | -6.5% | · |
Liquidity & Solvency 3
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Current Ratio | 4.6 | 3.8 | 5.1 | 5.6 | 13.1 | · | |
| Quick Ratio | 3.4 | 3.1 | 3.7 | 0.4 | 11.9 | · | |
| Debt / Equity | 0.0 | 0.0 | · | · | · | · |
Efficiency 3
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.4 | 0.3 | 0.3 | 0.3 | 0.3 | · | |
| Inventory Turnover | 3.9 | 3.3 | 2.2 | 2.7 | 4.3 | · | |
| Receivables Turnover | 9.1 | 9.1 | 8.9 | 9.3 | 7.9 | · |
Growth Rates 3
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Revenue YoY | 7.3% | 2.9% | -11.4% | 12.3% | 17.9% | · | |
| Revenue CAGR 3Y | -0.73% | 0.76% | 5.4% | · | · | · | |
| Revenue CAGR 5Y | 5.3% | · | · | · | · | · |
Valuation (TTM) 14
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Revenue TTM | $41M | $38M | $37M | $41M | $37M | · | |
| Net Income TTM | $-17M | $-27M | $-37M | $-47M | $-10M | · | |
| Market Cap | $204M | $446M | $152M | $159M | $574M | · | |
| Enterprise Value | $182M | $420M | · | · | · | · | |
| P/E | -11.9 | -14.6 | -3.2 | -3.3 | -33.6 | · | |
| P/S | 5.0 | 11.8 | 4.1 | 3.8 | 15.6 | · | |
| P/B | 3.0 | 5.4 | 1.7 | 1.6 | 4.0 | · | |
| P / Tangible Book | 3.6 | 6.4 | 2.0 | 1.9 | 5.3 | · | |
| P / Cash Flow | -23.5 | -36.0 | -8.1 | -5.8 | -63.3 | · | |
| P / FCF | -20.8 | -33.0 | -5.7 | -2.9 | -19.8 | · | |
| EV / EBITDA | -17.1 | -21.4 | · | · | · | · | |
| EV / FCF | -18.6 | -31.0 | · | · | · | · | |
| EV / Revenue | 4.5 | 11.1 | · | · | · | · | |
| Earnings Yield | -8.4% | -6.8% | -31.1% | -30.0% | -3.0% | · |
Income Statement 16
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $12M | $11M | $10M | $10M | $10M | $10M | $9M | $10M | $9M | $8M | $8M | $12M | $9M | $8M | $11M | |
| Cost of Revenue | $7M | $7M | $7M | $7M | $6M | $7M | $7M | $9M | $7M | $7M | $7M | $6M | $7M | $6M | $6M | |
| Gross Profit | $5M | $4M | $3M | $3M | $4M | $3M | $2M | $90.0K | $2M | $1M | $1M | $5M | $2M | $2M | $5M | |
| R&D Expense | $554.0K | $609.0K | $522.0K | $542.0K | $581.0K | $552.0K | $594.0K | $627.0K | $860.0K | $1M | $1M | $1M | $1M | $2M | $2M | |
| SG&A Expense | $5M | $5M | $5M | $5M | $5M | $5M | $5M | $5M | $7M | $6M | $6M | $6M | $7M | $7M | $7M | |
| Operating Expenses | $8M | $8M | $8M | $7M | $7M | $8M | $8M | $8M | $10M | $12M | $10M | $12M | $11M | $16M | $28M | |
| Operating Income | $-3M | $-4M | $-5M | $-4M | $-3M | $-5M | $-6M | $-7M | $-8M | $-11M | $-9M | $-7M | $-9M | $-14M | $-23M | |
| Other Non-op | $-250.0K | $-210.0K | $-211.0K | $-190.0K | $-165.0K | $341.0K | $-129.0K | $-141.0K | $-145.0K | $-275.0K | $233.0K | $166.0K | $18.0K | $19.0K | $36.0K | |
| Pretax Income | $-3M | $-5M | $-5M | $-4M | $-4M | $-5M | $-6M | $-8M | $-8M | $-11M | $-10M | $-7M | $-9M | $-14M | $-23M | |
| Income Tax | $30.0K | $47.0K | $-62.0K | $79.0K | $19.0K | $22.0K | $-38.0K | $-8.0K | $-34.0K | $-304.0K | $9.0K | $15.0K | $-18.0K | $-795.0K | $-374.0K | |
| Net Income | $-3M | $-5M | $-5M | $-4M | $-4M | $-5M | $-6M | $-8M | $-8M | $-11M | $-10M | $-7M | $-9M | $-13M | $-22M | |
| EPS (Basic) | $-0.06 | $-0.08 | $-0.08 | $-0.08 | $-0.07 | $-0.09 | $-0.09 | $-0.15 | $-0.20 | $-0.26 | $-0.34 | $-0.25 | $-0.31 | $-0.47 | $-0.80 | |
| EPS (Diluted) | $-0.06 | $-0.08 | $-0.08 | $-0.08 | $-0.07 | $-0.09 | $-0.09 | $-0.15 | $-0.20 | $-0.26 | $-0.34 | $-0.25 | $-0.31 | $-0.47 | $-0.80 | |
| Shares (Basic) | 53,634,826 | 53,606,278 | -106,904,180 | 53,516,986 | 53,448,736 | 53,421,533 | -86,734,257 | 51,821,395 | 40,804,885 | -54,590,917 | 29,956,930 | 28,272,306 | 28,181,457 | -56,095,476 | 28,090,267 | |
| Shares (Diluted) | 53,634,826 | 53,606,278 | -106,904,180 | 53,516,986 | 53,448,736 | 53,421,533 | -86,734,257 | 51,821,395 | 40,804,885 | -54,590,917 | 29,956,930 | 28,272,306 | 28,181,457 | -56,095,476 | 28,090,267 | |
| EBITDA | $-3M | · | · | $-4M | $-3M | $-3M | · | $-7M | $-6M | · | $-9M | $-7M | $-8M | · | $-23M |
Balance Sheet 27
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $6M | $4M | $6M | $3M | $3M | $3M | $4M | $6M | $22M | $28M | $32M | $24M | · | $42M | · | |
| Short-term Investments | $11M | $13M | $15M | $19M | $21M | $23M | $27M | $26M | · | $0 | · | · | · | · | · | |
| Receivables | $5M | $6M | $5M | $5M | $5M | $6M | $4M | $5M | $5M | $4M | $5M | $5M | $5M | $4M | $6M | |
| Inventory | $7M | $7M | $7M | $7M | $8M | $7M | $7M | $8M | $11M | $12M | $11M | $12M | $12M | $12M | $10M | |
| Prepaid Expense | $1M | $1M | $2M | $2M | $1M | $1M | $1M | $2M | $1M | $2M | $2M | $2M | $2M | $2M | $4M | |
| Current Assets | $31M | $32M | $35M | $37M | $38M | $40M | $43M | $46M | $39M | $46M | $51M | $43M | $50M | $61M | $70M | |
| PP&E (Net) | $39M | $41M | $42M | $43M | $44M | $45M | $46M | $47M | $49M | $50M | $52M | $53M | $54M | $52M | $53M | |
| PP&E (Gross) | · | · | · | · | · | · | · | · | $56M | · | $55M | $32M | $33M | $28M | $16M | |
| Accum. Depreciation | $20M | $19M | $17M | $16M | $15M | $14M | $12M | $11M | $9M | $8M | $7M | $5M | $5M | $5M | $5M | |
| Goodwill | · | · | · | · | · | · | · | · | · | · | · | · | · | · | $0 | |
| Intangibles | $11M | $12M | $12M | $12M | $13M | $13M | $13M | $13M | $14M | $14M | $17M | $17M | $17M | $18M | $18M | |
| Other Non-current Assets | $1M | $1M | $1M | $1M | $1M | $1M | $1M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $1M | |
| Total Assets | $96M | $99M | $104M | $108M | $110M | $114M | $119M | $124M | $121M | $129M | $138M | $133M | $141M | $152M | $160M | |
| Accounts Payable | $1M | $2M | $1M | $1M | $1M | $2M | $825.0K | $975.0K | $2M | $1M | $1M | $1M | $2M | $2M | $3M | |
| Accrued Liabilities | $3M | $3M | $4M | $4M | $3M | $4M | $5M | $4M | $4M | $6M | $5M | $4M | $5M | $6M | $7M | |
| Current Liabilities | $7M | $7M | $8M | $7M | $6M | $7M | $11M | $10M | $7M | $9M | $8M | $29M | $9M | $11M | $12M | |
| Capital Leases | $12M | $13M | $13M | $14M | $14M | $15M | $15M | $15M | $16M | $15M | $16M | $16M | $17M | $18M | $17M | |
| Deferred Tax | $956.0K | $925.0K | $879.0K | $946.0K | $868.0K | $848.0K | $827.0K | $867.0K | $884.0K | $919.0K | $1M | $1M | $1M | $1M | $2M | |
| Total Liabilities | $33M | $34M | $35M | $35M | $34M | $35M | $36M | $37M | $37M | $39M | $39M | $46M | $49M | $52M | $48M | |
| Long-term Debt | $13M | $13M | $13M | $13M | $13M | $13M | $9M | $11M | $13M | $13M | $13M | $22M | $22M | $22M | $17M | |
| Total Debt | · | · | · | $0 | $0 | $0 | · | $13M | $13M | · | $13M | $22M | · | · | · | |
| Common Stock | $1.0K | $1.0K | $1.0K | $1.0K | $1.0K | $1.0K | $1.0K | $1.0K | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Paid-in Capital | $206M | $205M | $205M | $204M | $203M | $202M | $201M | $200M | $183M | $182M | $181M | $157M | $156M | $155M | $154M | |
| Retained Earnings | $-144M | $-140M | $-136M | $-131M | $-127M | $-123M | $-119M | $-113M | $-100M | $-92M | $-81M | $-71M | $-64M | $-55M | $-42M | |
| Stockholders' Equity | $63M | $65M | $69M | $73M | $76M | $79M | $82M | $87M | $83M | $90M | $100M | $86M | $92M | $100M | $112M | |
| Liabilities + Equity | $96M | $99M | $104M | $108M | $110M | $114M | $119M | $124M | $121M | $129M | $138M | $133M | $141M | $152M | $160M | |
| Shares Outstanding | 53,682,647 | 53,610,200 | 53,562,154 | 53,524,460 | 53,514,288 | 53,437,060 | 53,409,727 | 53,302,993 | 40,823,387 | 40,793,848 | 40,727,780 | 28,341,302 | 28,190,192 | 28,179,423 | 28,130,484 |
Cash Flow 13
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $1M | $1M | $893.0K | $729.0K | |
| Stock-based Comp | $622.0K | $695.0K | $777.0K | $850.0K | $950.0K | $852.0K | $766.0K | $760.0K | $1M | $1M | $1M | $1M | $1M | $1M | $968.0K | |
| Amort. of Intangibles | $287.0K | $287.0K | $287.0K | $287.0K | $287.0K | $287.0K | $287.0K | $287.0K | $287.0K | $288.0K | $287.0K | $287.0K | $286.0K | $287.0K | $287.0K | |
| Other Non-cash | · | · | · | · | · | $-2M | · | · | $-1M | · | · | · | $-1M | · | · | |
| Operating Cash Flow | $-471.0K | $-3M | $-462.0K | $-2M | $-2M | $-4M | $-936.0K | $-2M | $-7M | $-3M | $-4M | $-4M | $-8M | $-8M | $-8M | |
| CapEx | $125.0K | $221.0K | $348.0K | $387.0K | $207.0K | $206.0K | $567.0K | $331.0K | $112.0K | $312.0K | $972.0K | $2M | $4M | $5M | $7M | |
| Investing Cash Flow | $2M | $2M | $3M | $2M | $2M | $4M | $-1M | $-26M | $13.0K | $-115.0K | $-972.0K | $-2M | $-4M | $-5M | $-7M | |
| Debt Issued | · | · | · | · | · | · | · | · | · | · | $0 | · | · | $5M | $0 | |
| Stock Issued | · | · | $0 | · | · | · | $0 | · | $-37.0K | $-412.0K | · | · | $0 | $0 | · | |
| Net Stock Activity | · | · | · | · | · | · | · | · | $-37.0K | · | · | · | · | · | · | |
| Financing Cash Flow | $224.0K | $-88.0K | $-37.0K | $268.0K | $-28.0K | $-52.0K | $-87.0K | $15M | $-343.0K | $-621.0K | $14M | $-180.0K | $-25.0K | $5M | $35.0K | |
| Net Change in Cash | $2M | $-2M | $3M | $-72.0K | $-101.0K | $-331.0K | $-2M | $-12M | $-7M | $-4M | $8M | $-6M | $-12M | $-8M | $-15M | |
| Free Cash Flow | · | · | · | · | · | $-4M | · | · | $-7M | · | · | · | $-12M | · | · |
Profitability 8
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 40.1% | · | · | 30.7% | 38.7% | 30.7% | · | 0.94% | 23.8% | · | 18.0% | 44.0% | 26.6% | · | 44.6% | |
| Operating Margin | -23.7% | · | · | -38.4% | -32.9% | -50.7% | · | -77.6% | -86.0% | · | -107.3% | -60.7% | -98.1% | · | -214.7% | |
| Net Margin | -26.0% | · | · | -41.0% | -34.7% | -47.4% | · | -79.0% | -87.2% | · | -124.3% | -62.1% | -96.7% | · | -210.2% | |
| Pretax Margin | -25.8% | · | · | -40.2% | -34.5% | -47.2% | · | -79.1% | -87.5% | · | -124.2% | -61.9% | -96.9% | · | -213.7% | |
| EBITDA Margin | -23.7% | · | · | -38.4% | -32.9% | -34.5% | · | -77.6% | -68.3% | · | -107.3% | -60.7% | -85.7% | · | -214.7% | |
| ROA | -3.1% | · | · | -3.7% | -2.9% | -4.0% | · | -5.8% | -6.2% | · | -6.8% | -4.5% | -5.4% | · | -13.6% | |
| ROE | -4.6% | · | · | -5.4% | -4.4% | -5.7% | · | -8.1% | -9.2% | · | -9.6% | -6.5% | -7.6% | · | -17.4% | |
| ROIC | -4.7% | · | · | -5.6% | -4.5% | -6.3% | · | -7.4% | -8.2% | · | -7.8% | -6.5% | -9.7% | · | -20.2% |
Liquidity & Solvency 4
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 4.5 | · | · | 5.3 | 5.9 | 5.6 | · | 4.7 | 5.5 | · | 6.1 | 1.5 | 5.7 | · | 5.7 | |
| Quick Ratio | 3.3 | · | · | 3.9 | 4.5 | 4.5 | · | 3.7 | 3.7 | · | 4.5 | 1.0 | 0.6 | · | 0.5 | |
| Debt / Equity | · | · | · | 0.0 | 0.0 | 0.0 | · | 0.2 | 0.2 | · | 0.1 | 0.3 | · | · | · | |
| LT Debt / Equity | · | · | · | · | · | · | · | 0.1 | 0.2 | · | 0.1 | 0.0 | · | · | · |
Efficiency 3
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.1 | · | · | 0.1 | 0.1 | 0.1 | · | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | |
| Inventory Turnover | 1.0 | · | · | 1.0 | 0.6 | 0.8 | · | 1.0 | 0.6 | · | 0.6 | 0.6 | 0.7 | · | 0.8 | |
| Receivables Turnover | 2.3 | · | · | 2.1 | 2.1 | 1.9 | · | 2.0 | 2.0 | · | 1.5 | 2.2 | 1.7 | · | 2.1 |
Valuation (TTM) 14
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $44M | $42M | · | $40M | $39M | $38M | · | $37M | $38M | · | $40M | $43M | $43M | · | $43M | |
| Net Income TTM | $-16M | $-17M | · | $-20M | $-21M | $-26M | · | $-31M | $-34M | · | $-49M | $-45M | $-43M | · | $-37M | |
| Market Cap | $305M | · | · | $331M | $263M | $277M | · | $258M | $108M | · | $114M | $76M | $83M | · | $94M | |
| Enterprise Value | · | · | · | $309M | $239M | $251M | · | $240M | $100M | · | $95M | $74M | · | · | · | |
| P/E | -19.6 | -9.0 | · | -15.9 | -11.2 | -9.1 | · | -5.9 | -2.4 | · | -1.6 | -1.7 | -1.9 | · | -2.5 | |
| P/S | 6.9 | · | · | 8.3 | 6.7 | 7.2 | · | 7.0 | 2.8 | · | 2.9 | 1.8 | 2.0 | · | 2.2 | |
| P/B | 4.9 | · | · | 4.6 | 3.5 | 3.5 | · | 3.0 | 1.3 | · | 1.1 | 0.9 | 0.9 | · | 0.8 | |
| P / Tangible Book | 6.0 | 2.9 | · | 5.5 | 4.1 | 4.2 | · | 3.5 | 1.6 | · | 1.4 | 1.1 | 1.1 | · | 1.0 | |
| P / Cash Flow | · | · | · | · | · | -67.6 | · | · | -16.5 | · | · | · | -10.9 | · | · | |
| P / FCF | · | · | · | · | · | -64.4 | · | · | -16.2 | · | · | · | -7.0 | · | · | |
| EV / EBITDA | · | · | · | -77.0 | -70.5 | -74.2 | · | -32.2 | -15.7 | · | -10.8 | -10.6 | · | · | · | |
| EV / FCF | · | · | · | · | · | -58.3 | · | · | -15.0 | · | · | · | · | · | · | |
| EV / Revenue | · | · | · | 7.7 | 6.1 | 6.6 | · | 6.5 | 2.6 | · | 2.4 | 1.7 | · | · | · | |
| Earnings Yield | -5.1% | -11.1% | · | -6.3% | -9.0% | -11.0% | · | -16.9% | -41.5% | · | -60.9% | -59.2% | -51.7% | · | -40.1% |
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 | $41M | $38M | $37M | $41M | $37M |
| Gross Margin % | 33.2% | 19.2% | 28.1% | 42.2% | 47.8% |
| Operating Margin % | -41.9% | -69.3% | -96.9% | -119.9% | -32.6% |
| Net Income | $-17M | $-27M | $-37M | $-47M | $-10M |
| Diluted EPS | $-0.32 | $-0.57 | $-1.16 | $-1.69 | $-0.61 |
Balance Sheet
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Debt / Equity | 0.0 | 0.0 | — | — | — |
| Current Ratio | 4.6 | 3.8 | 5.1 | 5.6 | 13.1 |
| Quick Ratio | 3.4 | 3.1 | 3.7 | 0.4 | 11.9 |
Cash Flow
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Free Cash Flow | $-10M | $-14M | $-27M | $-56M | $-29M |
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Institutional owners (13F) 85 filers · $46.0M 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 |
|---|---|---|---|---|
| 17 (-2 vs prior Q) | 7 (-6 vs prior Q) | 29 (+7 vs prior Q) | 19 (+1 vs prior Q) | +2.0M |
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 |
|---|---|---|---|---|
| ROYCE & ASSOCIATES LP | $9,436,724 | 1,661,395 | 20.53% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $9,167,776 | 1,614,045 | 19.95% | Shares |
| Roubaix Capital, LLC | $8,971,015 | 1,579,404 | 19.52% | Shares |
| UBS Group AG | $3,589,573 | 631,967 | 7.81% | Shares |
| VANGUARD GROUP INC | $1,953,926 | 514,191 | 4.25% | Shares |
| Conestoga Capital Advisors, LLC | $1,786,667 | 314,554 | 3.89% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $1,541,252 | 271,257 | 3.35% | Shares |
| BANK OF AMERICA CORP /DE/ | $1,452,717 | 255,760 | 3.16% | Shares |
| STATE STREET CORP | $936,547 | 164,885 | 2.04% | Shares |
| GOLDMAN SACHS GROUP INC | $874,300 | 153,926 | 1.90% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $587,693 | 103,467 | 1.28% | Shares |
| BRIDGEWAY CAPITAL MANAGEMENT, LLC | $459,512 | 80,900 | 1.00% | Shares |
| Divisadero Street Capital Management, LP | $447,993 | 78,872 | 0.97% | Shares |
| Bank of New York Mellon Corp | $446,368 | 78,586 | 0.97% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $432,032 | 76,062 | 0.94% | Shares |
| MILLENNIUM MANAGEMENT LLC | $425,807 | 74,966 | 0.93% | Shares |
| NANO CAP NEW MILLENNIUM GROWTH FUND L P | $383,400 | 67,500 | 0.83% | Shares |
| Apollo Management Holdings, L.P. | $369,404 | 65,036 | 0.80% | Shares |
| WELLS FARGO & COMPANY/MN | $339,465 | 59,765 | 0.74% | Shares |
| Walleye Capital LLC | $263,336 | 46,362 | 0.57% | Shares |
| Squarepoint Ops LLC | $204,185 | 35,948 | 0.44% | Shares |
| JANE STREET GROUP, LLC | $178,210 | 31,375 | 0.39% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $174,393 | 30,703 | 0.38% | Shares |
| Fielder Capital Group LLC | $143,488 | 25,262 | 0.31% | Shares |
| CITADEL ADVISORS LLC | $133,940 | 23,581 | 0.29% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $115,412 | 20,319 | 0.25% | Shares |
| Nuveen, LLC | $80,417 | 14,158 | 0.17% | Shares |
| XTX Topco Ltd | $77,242 | 13,599 | 0.17% | Shares |
| RHUMBLINE ADVISERS | $75,407 | 13,277 | 0.16% | Shares |
| NEW YORK STATE COMMON RETIREMENT FUND | $71,000 | 12,500 | 0.15% | Shares |
| Vanguard Personalized Indexing Management, LLC | $69,853 | 12,298 | 0.15% | Shares |
| IEQ CAPITAL, LLC | $62,389 | 10,984 | 0.14% | Shares |
| FMR LLC | $62,236 | 10,957 | 0.14% | Shares |
| DEUTSCHE BANK AG\ | $61,992 | 10,914 | 0.13% | Shares |
| SHERBROOKE PARK ADVISERS LLC | $49,202 | 12,948 | 0.11% | Shares |
| China Universal Asset Management Co., Ltd. | $48,467 | 8,533 | 0.11% | Shares |
| Pinnacle Wealth Planning Services, Inc. | $43,611 | 7,678 | 0.09% | Shares |
| MORGAN STANLEY | $36,358 | 6,401 | 0.08% | Shares |
| BARCLAYS PLC | $33,114 | 5,830 | 0.07% | Shares |
| CITIGROUP INC | $32,819 | 5,778 | 0.07% | Shares |
| ALLIANCEBERNSTEIN L.P. | $29,189 | 10,100 | 0.06% | Shares |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. | $29,110 | 5,125 | 0.06% | Shares |
| JPMORGAN CHASE & CO | $25,362 | 4,473 | 0.06% | Shares |
| Police & Firemen's Retirement System of New Jersey | $24,458 | 4,306 | 0.05% | Shares |
| MERCER GLOBAL ADVISORS INC /ADV | $20,528 | 3,614 | 0.04% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $19,977 | 3,517 | 0.04% | Shares |
| BNP PARIBAS FINANCIAL MARKETS | $19,397 | 3,415 | 0.04% | Shares |
| Vanguard Global Advisers, LLC | $19,085 | 3,360 | 0.04% | Shares |
| BlackRock, Inc. | $16,949 | 2,984 | 0.04% | Shares |
| Russell Investments Group, Ltd. | $16,795 | 2,957 | 0.04% | Shares |
| Arax Advisory Partners | $14,961 | 2,634 | 0.03% | Shares |
| Mirae Asset Global Investments Co., Ltd. | $13,621 | 2,398 | 0.03% | Shares |
| Tower Research Capital LLC (TRC) | $12,746 | 2,244 | 0.03% | Shares |
| CWM, LLC | $11,811 | 4,087 | 0.03% | Shares |
| CREDIT INDUSTRIEL ET COMMERCIAL | $11,360 | 2,000 | 0.02% | Shares |
| NORTHERN TRUST CORP | $9,514 | 1,675 | 0.02% | Shares |
| PNC Financial Services Group, Inc. | $7,850 | 1,382 | 0.02% | Shares |
| GF FUND MANAGEMENT CO. LTD. | $6,310 | 1,111 | 0.01% | Shares |
| Ameritas Investment Partners, Inc. | $6,293 | 1,108 | 0.01% | Shares |
| Legal & General Group Plc | $5,652 | 995 | 0.01% | Shares |
| Integrated Wealth Concepts LLC | $4,260 | 750 | 0.01% | Shares |
| GAMMA Investing LLC | $3,709 | 653 | 0.01% | Shares |
| Cerity Partners LLC | $3,244 | 571 | 0.01% | Shares |
| ROYAL BANK OF CANADA | $2,000 | 360 | 0.00% | Shares |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM | $1,696 | 587 | 0.00% | Shares |
| Allworth Financial LP | $1,386 | 244 | 0.00% | Shares |
| Sterling Capital Management LLC | $1,153 | 203 | 0.00% | Shares |
| Essential Partners LLC | $943 | 166 | 0.00% | Shares |
| NISA INVESTMENT ADVISORS, LLC | $517 | 91 | 0.00% | Shares |
| Farther Finance Advisors, LLC | $443 | 78 | 0.00% | Shares |
| ROTHSCHILD INVESTMENT LLC | $398 | 70 | 0.00% | Shares |
| IFP Advisors, Inc | $381 | 67 | 0.00% | Shares |
| GSA CAPITAL PARTNERS LLP | $303 | 53,298 | 0.00% | Shares |
| Transamerica Financial Advisors, LLC | $238 | 42 | 0.00% | Shares |
| SJS Investment Consulting Inc. | $211 | 37 | 0.00% | Shares |
| EverSource Wealth Advisors, LLC | $199 | 35 | 0.00% | Shares |
| Zurcher Kantonalbank (Zurich Cantonalbank) | $97 | 17 | 0.00% | Shares |
| AQR CAPITAL MANAGEMENT LLC | $91 | 16 | 0.00% | Shares |
| Fortitude Family Office, LLC | $80 | 14 | 0.00% | Shares |
| True Wealth Design, LLC | $57 | 10 | 0.00% | Shares |
| Clearstead Advisors, LLC | $40 | 7 | 0.00% | Shares |
| Wealth Enhancement Trust Services, Inc. | $28 | 5 | 0.00% | Shares |
| Sunbelt Securities, Inc. | $14 | 5 | 0.00% | Shares |
| JPL Wealth Management, LLC | $6 | 1 | 0.00% | Shares |
| Caitong International Asset Management Co., Ltd | $6 | 1 | 0.00% | Shares |
Company insiders 8 insiders · 2 officers · 4 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Stephen Gunstream | President and CEO | Sept. 30, 2022 M | 58,000 | 0 | 0 | $0 |
| Ken Gelhaus | Chief Commercial Officer | Nov. 17, 2021 A | — | 0 | 0 | $0 |
| Martha J Demski | Director | July 14, 2026 J | 12,000 | 0 | 0 | $0 |
| Alexander Vos | Director | June 1, 2026 A | — | 0 | 0 | $0 |
| Brett Robertson | Director | June 1, 2026 A | — | 0 | 0 | $0 |
| Lisa Hood | — | June 24, 2021 A | — | 0 | 0 | $0 |
| Matthew Lowell | — | June 24, 2021 A | — | 0 | 0 | $0 |
| Robert Mcnamara | — | June 24, 2021 A | — | 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 |
|---|---|---|---|---|---|
| Telegraph Hill Partners IV, L.P., THP IV Affiliates Fund, LLC, Telegraph Hill Partners IV Investment Management, LLC, Telegraph Hill Partners V, L.P., THP V Affiliates Fund, LLC, Telegraph Hill Partners V Investment Management, LLC, Telegraph Hill Partners Management Company, LLC | July 19, 2024 | — | 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 19 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 |
|---|---|---|---|---|
| IBBQ · Invesco Exchange-Traded Fund Trust … | 0.02% | 2,886 SH | Aug. 8, 2026 | Daily |
| IWC · iShares Trust | 0.02% | 37,732 SH | Aug. 8, 2026 | Daily |
| BIB · ProShares Trust | 0.01% | 1,981 NS | May 31, 2026 | N-PORT |
| IBB · iShares Trust | 0.01% | 79,757 SH | Aug. 8, 2026 | Daily |
| IWO · iShares Trust | 0.00% | 93,921 SH | Aug. 8, 2026 | Daily |
| IWN · iShares Trust | 0.00% | 78,960 SH | Aug. 8, 2026 | Daily |
| IWM · iShares Trust | 0.00% | 299,664 SH | Aug. 8, 2026 | Daily |
| ITWO · ProShares Trust | 0.00% | 512 NS | May 31, 2026 | N-PORT |
| RSSL · Global X Funds | 0.00% | 4,773 NS | April 30, 2026 | N-PORT |
| UWM · ProShares Trust | 0.00% | 399 NS | May 31, 2026 | N-PORT |
| URTY · ProShares Trust | 0.00% | 403 NS | May 31, 2026 | N-PORT |
| HDG · ProShares Trust | 0.00% | 10 NS | May 31, 2026 | N-PORT |
| VXF · VANGUARD INDEX FUNDS | 0.00% | 113,404 SH | Aug. 8, 2026 | Daily |
| VTI · VANGUARD INDEX FUNDS | 0.00% | 1,477,356 SH | Aug. 8, 2026 | Daily |
| VTWO · VANGUARD SCOTTSDALE FUNDS | 0.00% | 65,134 SH | Aug. 8, 2026 | Daily |
| VTWV · VANGUARD SCOTTSDALE FUNDS | 0.00% | 8,574 SH | Aug. 8, 2026 | Daily |
| VTWG · VANGUARD SCOTTSDALE FUNDS | 0.00% | 1,437 SH | Aug. 8, 2026 | Daily |
| VTHR · VANGUARD SCOTTSDALE FUNDS | 0.00% | 917 SH | Aug. 8, 2026 | Daily |
| DFAS · Dimensional ETF Trust | 0.00% | 1,717 NS | April 30, 2026 | N-PORT |