TLS Telos Corporation - Common Stock
NASDAQ · Technology · View on SEC EDGAR ↗ close Oct 2, 2026 10-K/10-Q Aug 10, 2026TLS Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
TLS 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
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
| Metric | 5Y trend | TLS | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| P/E (TTM) | -20.05Y avg ≈-10.5 | ≈-10.5 | · | · | |
| P/S (TTM) | 1.65Y avg ≈2.4 | ≈2.4 | 2.0 | Fair value | |
| P/B (MRQ) | 3.45Y avg ≈3.0 | ≈3.0 | 2.4 | Overvalued | |
| Price / FCF (TTM) | 9.35Y avg ≈133.5 | ≈133.5 | · | · | |
| Price / Cash Flow (TTM) | 9.05Y avg ≈65.4 | ≈65.4 | 12.3 | Fair value | |
| Price / Tangible Book (MRQ) | 4.95Y avg ≈4.3 | ≈4.3 | · | · |
Peer median is calculated on a standardized basis per metric and may not always match the TTM/MRQ basis shown for this stock.
Profitability Gross, operating and net margins; ROE, ROA, ROIC
| Metric | 5Y trend | TLS | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Gross Margin (TTM) | 36.6%5Y avg ≈35.4% | ≈35.4% | 68.9% | Weak | |
| Operating Margin (TTM) | -9.9%5Y avg ≈-29.1% | ≈-29.1% | 2.0% | Weak | |
| EBITDA Margin (TTM) | -3.0%5Y avg ≈-23.2% | ≈-23.2% | 2.0% | Weak | |
| Pretax Margin (TTM) | -8.5%5Y avg ≈-27.4% | ≈-27.4% | 4.2% | Weak | |
| Net Profit Margin (TTM) | -8.1%5Y avg ≈-27.4% | ≈-27.4% | 2.1% | Below avg | |
| ROA (TTM) | -10.3%5Y avg ≈-21.7% | ≈-21.7% | -5.0% | Weak | |
| ROE (TTM) | -14.9%5Y avg ≈-30.3% | ≈-30.3% | -7.8% | Weak | |
| ROIC | -40.8%5Y avg ≈-32.9% | ≈-32.9% | -13.4% | Weak |
Financial Health Debt, liquidity, solvency — balance sheet strength
| Metric | 5Y trend | TLS | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Current Ratio (MRQ) | 2.45Y avg ≈3.5 | ≈3.5 | 1.5 | Strong liquidity | |
| Quick Ratio | 1.95Y avg ≈3.1 | ≈3.1 | 1.0 | Strong liquidity |
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
| Metric | 5Y trend | TLS | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Revenue YoY | 52.2%5Y avg ≈3.6% | ≈3.6% | · | · | |
| Revenue CAGR 3Y | -8.8%5Y avg ≈-13.1% | ≈-13.1% | · | · | |
| Revenue CAGR 5Y | -1.7% | · | · | · |
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
| Metric | 5Y trend | TLS | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Asset Turnover | 1.15Y avg ≈0.8 | ≈0.8 | 0.5 | Top tier | |
| Inventory Turnover | 74.75Y avg ≈59.9 | ≈59.9 | 58.3 | Top tier | |
| Receivables Turnover | 9.15Y avg ≈5.5 | ≈5.5 | 7.8 | Top tier | |
| Revenue / Employee | ≈$323.8K | · | · | · |
value · ≈ 5Y avg · industry median · verdict relative to median
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
| Period | Report | EPS Actual | EPS Est | Surprise |
|---|---|---|---|---|
| June 30, 2026 | Aug 10, 2026 | $0.04 | $0.02 | 80.2% |
| March 31, 2026 | May 8, 2026 | $0.06 | $0.02 | 259.3% |
| Dec. 31, 2025 | $0.06 | $0.02 | 164.3% | |
| Sept. 30, 2025 | $0.09 | $0.02 | 492.1% | |
| June 30, 2025 | $-0.03 | $-0.05 | 42.1% | |
| March 31, 2025 | $-0.03 | $-0.05 | 43.9% |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $165M | $108M | $145M | $217M | $242M | $180M | $159M | $138M | $108M | $135M | $121M | |
| Cost of Revenue | $104M | $74M | $92M | $138M | $156M | $117M | $107M | $85M | $67M | $91M | $90M | |
| Gross Profit | $61M | $34M | $53M | $79M | $86M | $62M | $52M | · | · | · | · | |
| R&D Expense | $7M | $8M | $12M | $17M | $19M | $14M | $11M | $9M | · | · | · | |
| SG&A Expense | $79M | $75M | $81M | $133M | $127M | $62M | $47M | $44M | $40M | $41M | $34M | |
| Operating Expenses | $101M | $90M | $93M | · | · | · | · | · | · | · | · | |
| Operating Income | $-40M | $-56M | $-40M | $-54M | $-41M | $297.0K | $5M | $9M | $414.0K | $2M | $-4M | |
| Interest Expense | · | · | $786.0K | $874.0K | $777.0K | $7M | $7M | $7M | $7M | $5M | $6M | |
| Other Non-op | $3M | $4M | $7M | $1M | $-921.0K | $-255.0K | $201.0K | $12.0K | $11.0K | $18.0K | $19.0K | |
| Pretax Income | $-37M | $-52M | $-34M | $-53M | $-43M | $7M | $-2M | $2M | $-6M | $-3M | $-9M | |
| Income Tax | $-663.0K | $26.0K | $36.0K | $54.0K | $-28.0K | $-46.0K | $-104.0K | $31.0K | $-3M | $334.0K | $4M | |
| Net Income | $-37M | $-53M | $-34M | $-53M | $-43M | $2M | $-6M | $-2M | $-6M | $-7M | $-16M | |
| EPS (Basic) | $-0.50 | $-0.73 | $-0.50 | $-0.79 | $-0.65 | $0.04 | $-0.17 | $-0.04 | · | · | · | |
| EPS (Diluted) | $-0.50 | $-0.73 | $-0.50 | $-0.79 | $-0.65 | $0.04 | $-0.17 | $-0.04 | · | · | · | |
| Shares (Basic) | 72,878,000 | 71,850,000 | 69,256,000 | 67,559,000 | 66,374,000 | 41,642,000 | 37,729,000 | 36,762,000 | · | · | · | |
| Shares (Diluted) | 72,878,000 | 71,850,000 | 69,256,000 | 67,559,000 | 66,374,000 | 42,877,000 | 37,729,000 | 36,762,000 | · | · | · | |
| EBITDA | $-28M | $-44M | $-31M | $-48M | $-36M | $6M | $10M | $12M | $2M | $5M | $674.0K |
Balance Sheet
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $53M | $55M | $99M | $119M | $127M | $106M | $7M | $72.0K | $600.0K | $659.0K | $58.0K | |
| Receivables | $17M | $19M | $30M | $40M | $60M | $31M | $28M | $35M | $25M | $19M | $19M | |
| Inventory | $996.0K | $2M | $1M | $3M | $1M | $3M | $2M | $4M | $14M | $4M | $3M | |
| Prepaid Expense | $11M | $15M | $8M | $5M | $3M | $3M | $2M | · | · | · | · | |
| Other Current Assets | $3M | $3M | $1M | $893.0K | $732.0K | $786.0K | $1M | $2M | $1M | $2M | $3M | |
| Current Assets | $94M | $91M | $140M | $168M | $192M | $144M | $40M | $41M | $42M | $25M | $26M | |
| PP&E (Net) | $3M | $4M | $3M | $5M | $6M | $15M | $20M | $17M | $16M | $16M | $17M | |
| PP&E (Gross) | $21M | $21M | $19M | $19M | $18M | $59M | $52M | $46M | $42M | $40M | $41M | |
| Accum. Depreciation | $18M | $16M | $16M | $14M | $12M | $32M | $32M | $29M | $26M | $24M | $23M | |
| Goodwill | $3M | $18M | $18M | $18M | $18M | $15M | $15M | $15M | $15M | $15M | $15M | |
| Intangibles | $30M | $30M | $40M | $37M | $19M | $7M | · | · | · | $0 | $1M | |
| Other Non-current Assets | $5M | $8M | $885.0K | $1M | $1M | $926.0K | $985.0K | $915.0K | $1M | $761.0K | $814.0K | |
| Total Assets | $140M | $158M | $209M | $237M | $246M | $184M | $78M | $74M | $74M | $57M | $60M | |
| Accounts Payable | $4M | $1M | $8M | $13M | $8M | $15M | · | · | · | · | · | |
| Accrued Liabilities | $7M | $4M | $5M | $10M | $25M | $6M | $2M | $3M | $10M | $3M | $3M | |
| Current Liabilities | $37M | $22M | $39M | $46M | $51M | $39M | $37M | $39M | $46M | $34M | $25M | |
| Capital Leases | $186.0K | $418.0K | $123.0K | $27.0K | $388.0K | $941.0K | $16M | $17M | $18M | $19M | $20M | |
| Deferred Tax | $53.0K | $813.0K | $813.0K | $758.0K | $723.0K | $652.0K | $621.0K | $818.0K | $741.0K | $3M | $3M | |
| Other Non-current Liabilities | $159.0K | $91.0K | $44.0K | $297.0K | $935.0K | $2M | $724.0K | $838.0K | $872.0K | $919.0K | $882.0K | |
| Total Liabilities | $44M | $31M | $50M | $65M | $66M | $57M | $214M | $207M | $210M | $187M | $184M | |
| Long-term Debt | · | · | · | · | · | · | · | $11M | $11M | $0 | $9M | |
| Common Stock | $111.0K | $111.0K | $109.0K | $106.0K | $105.0K | $103.0K | $0 | $78.0K | $78.0K | $78.0K | $78.0K | |
| Paid-in Capital | · | · | · | · | · | · | · | · | · | · | $3M | |
| Retained Earnings | $-364M | $-327M | $-275M | $-240M | $-187M | $-144M | $-146M | $-139M | $-141M | $-136M | $-128M | |
| AOCI | $-96.0K | $-129.0K | $-60.0K | $-55.0K | $-27.0K | $44.0K | $6.0K | $17.0K | $32.0K | $25.0K | $37.0K | |
| Stockholders' Equity | $96M | $127M | $159M | $172M | $180M | $127M | $-137M | $-132M | $-137M | $-132M | $-125M | |
| Liabilities + Equity | $140M | $158M | $209M | $237M | $246M | $184M | $78M | $74M | $74M | $57M | $60M | |
| Shares Outstanding | 72,773,272 | 72,515,000 | 70,240,000 | 67,431,000 | 66,767,000 | 64,625,000 | 0 | 0 | · | · | · |
Cash Flow
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $11M | $12M | $9M | $6M | $6M | $5M | $5M | $3M | $2M | $3M | $4M | |
| Stock-based Comp | $30M | $21M | $24M | $65M | $60M | $4.0K | $0 | $0 | $50.0K | $0 | $0 | |
| Deferred Tax | $-760.0K | $0 | $55.0K | $35.0K | $70.0K | $31.0K | $-197.0K | $77.0K | $-3M | $192.0K | $5M | |
| Amort. of Intangibles | · | · | · | · | $2M | $2M | $2M | · | · | $1M | $2M | |
| Restructuring | $2M | $1M | · | · | · | · | · | · | · | · | · | |
| Other Non-cash | $26M | $-7M | $2M | $-649.0K | $-16M | $-9M | $13M | $5M | $6M | $18M | $9M | |
| Operating Cash Flow | $30M | $-26M | $2M | $17M | $7M | $-2M | $12M | $6M | $-591.0K | $14M | $3M | |
| CapEx | $739.0K | $2M | $926.0K | $1M | $3M | $780.0K | $4M | $2M | $748.0K | $624.0K | $394.0K | |
| Investing Cash Flow | $-9M | $-17M | $-15M | $-14M | $-19M | $-7M | $-7M | $-4M | $-2M | $-624.0K | $-394.0K | |
| Stock Issued | · | · | · | $0 | $64M | $273M | $0 | · | · | · | · | |
| Stock Repurchased | $14M | $0 | $139.0K | $11M | $1M | $0 | $0 | · | · | · | · | |
| Net Stock Activity | $-14M | $0 | $-139.0K | $-11M | $63M | · | · | · | · | · | · | |
| Financing Cash Flow | $-23M | $-2M | $-6M | $-10M | $32M | $109M | $1M | $-3M | $3M | $-13M | $-2M | |
| Net Change in Cash | $-1M | $-45M | $-20M | $-7M | $21M | $99M | $7M | $-528.0K | $-59.0K | $601.0K | $26.0K | |
| Taxes Paid | $42.0K | $55.0K | · | · | · | · | · | · | · | · | · | |
| Free Cash Flow | $29M | $-28M | $661.0K | $15M | $4M | $-3M | $8M | $4M | $-1M | $13M | $2M | |
| Levered FCF | · | · | $-125.8K | $15M | $3M | $-10M | $605.5K | $-3M | $-5M | $7M | $-6M |
Profitability
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 37.0% | 31.8% | 36.4% | 36.4% | 35.5% | · | · | · | · | · | · | |
| Operating Margin | -24.2% | -51.6% | -27.7% | -24.8% | -17.1% | 0.17% | 3.2% | 6.5% | 0.38% | 1.6% | -3.0% | |
| Net Margin | -22.2% | -48.5% | -23.7% | -24.6% | -17.8% | 0.94% | -4.0% | -1.2% | -5.4% | -5.3% | -13.2% | |
| Pretax Margin | -22.6% | -48.5% | -23.6% | -24.6% | -17.8% | 3.8% | -1.4% | 1.3% | -5.8% | -2.5% | -7.7% | |
| EBITDA Margin | -17.2% | -40.6% | -21.2% | -22.1% | -14.8% | 3.1% | 6.3% | 8.7% | 2.2% | 3.7% | 0.56% | |
| ROA | -24.5% | -28.6% | -15.4% | -22.1% | -17.7% | 1.3% | -8.4% | -2.2% | -8.9% | -12.3% | -23.8% | |
| ROE | -34.1% | -40.9% | -21.3% | -30.6% | -24.4% | -50.3% | 4.7% | 1.2% | 4.3% | 5.6% | 13.6% | |
| ROIC | -40.8% | -44.0% | -25.4% | -31.3% | -23.0% | 0.24% | -3.4% | -6.6% | -0.17% | -1.8% | 4.2% |
Liquidity & Solvency
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.6 | 4.1 | 3.6 | 3.7 | 3.8 | 3.7 | 1.1 | 1.1 | 0.9 | 0.7 | 1.0 | |
| Quick Ratio | 1.9 | 3.3 | 3.3 | 3.5 | 3.7 | 3.5 | 0.9 | 0.9 | 0.5 | 0.6 | 0.8 | |
| Interest Coverage | · | · | -51.3 | -61.6 | -53.4 | 0.0 | 0.7 | 1.2 | 0.1 | 0.4 | -0.6 |
Efficiency
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 1.1 | 0.6 | 0.7 | 0.9 | 1.0 | 1.4 | 2.1 | 1.9 | 1.6 | 2.3 | 1.8 | |
| Inventory Turnover | 74.7 | 46.1 | 43.0 | 66.8 | 68.6 | 44.5 | 33.6 | 9.5 | 7.9 | 28.3 | 28.8 | |
| Receivables Turnover | 9.1 | 4.4 | 4.1 | 4.3 | 5.3 | 6.1 | 5.1 | 4.7 | 4.9 | 7.1 | 5.8 |
Per Share
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Book Value / Share | $1.32 | $1.75 | $2.26 | $2.56 | $2.70 | $1.97 | · | · | · | · | · | |
| Revenue / Share | $2.26 | $1.51 | $2.10 | $3.21 | $3.65 | $4.20 | · | · | · | · | · | |
| Cash Flow / Share | $0.41 | $-0.36 | $0.02 | $0.24 | $0.11 | $-0.05 | · | · | · | · | · | |
| Cash / Share | $0.73 | $0.75 | $1.41 | $1.77 | $1.90 | $1.64 | · | · | · | · | · | |
| EPS (TTM) | $-0.50 | $-0.73 | $-0.50 | $-0.79 | $-0.65 | $0.04 | $-0.17 | $-0.04 | · | · | · |
Growth Rates
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue YoY | 52.2% | -25.5% | -33.0% | -10.5% | 34.8% | · | · | · | · | · | · | |
| Revenue CAGR 3Y | -8.8% | -23.6% | -6.9% | · | · | · | · | · | · | · | · | |
| Revenue CAGR 5Y | -1.7% | · | · | · | · | · | · | · | · | · | · |
Valuation (TTM)
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $165M | $108M | $145M | $217M | $242M | $180M | $159M | $138M | $108M | $135M | $121M | |
| Net Income TTM | $-37M | $-53M | $-34M | $-53M | $-43M | $2M | $-6M | $-2M | $-6M | $-7M | $-16M | |
| Market Cap | $371M | $248M | $256M | $343M | $1.03B | $2.13B | · | · | · | · | · | |
| P/E | -10.2 | -4.7 | -7.3 | -6.4 | -23.7 | 824.5 | · | · | · | · | · | |
| P/S | 2.3 | 2.3 | 1.8 | 1.6 | 4.2 | 11.8 | · | · | · | · | · | |
| P/B | 3.9 | 2.0 | 1.6 | 2.0 | 5.7 | 16.8 | · | · | · | · | · | |
| P / Tangible Book | 5.9 | 3.1 | 2.5 | 2.9 | 7.2 | 20.3 | · | · | · | · | · | |
| P / Cash Flow | 12.3 | -9.6 | 161.5 | 20.8 | 141.8 | -1013.0 | · | · | · | · | · | |
| P / FCF | 12.6 | -8.8 | 387.9 | 22.1 | 253.5 | -739.0 | · | · | · | · | · | |
| Earnings Yield | -9.8% | -21.3% | -13.7% | -15.5% | -4.2% | 0.12% | · | · | · | · | · |
Income Statement
| 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 | $48M | $48M | $47M | $51M | $36M | $31M | $26M | $24M | $28M | $30M | $41M | $36M | $33M | $35M | $47M | $64M | |
| Cost of Revenue | $31M | $30M | $30M | $31M | $24M | $18M | $16M | $21M | $19M | $19M | $27M | $23M | $21M | $22M | $29M | $43M | |
| Gross Profit | $17M | $17M | $16M | $21M | $12M | $12M | $11M | $3M | $10M | $11M | $14M | $13M | $12M | $13M | $18M | $21M | |
| R&D Expense | $1M | $1M | $2M | $2M | $2M | $2M | $1M | $2M | $1M | $3M | $3M | $3M | $3M | $3M | $3M | $4M | |
| SG&A Expense | $15M | $15M | $18M | $21M | $20M | $20M | $19M | $23M | $17M | $16M | $19M | $20M | $19M | $24M | $33M | $30M | |
| Operating Expenses | $16M | $16M | $35M | $23M | $22M | $21M | $21M | $32M | $18M | $19M | $22M | $23M | · | · | · | · | |
| Operating Income | $310.0K | $1M | $-19M | $-2M | $-10M | $-9M | $-10M | $-29M | $-9M | $-8M | $-8M | $-10M | $-9M | $-13M | $-15M | $-9M | |
| Interest Expense | · | · | · | · | · | · | · | · | · | $175.0K | · | $178.0K | $184.0K | $249.0K | $316.0K | $181.0K | |
| Other Non-op | $501.0K | $697.0K | $2M | $511.0K | $553.0K | $561.0K | $724.0K | $983.0K | $1M | $1M | $1M | $1M | $2M | $2M | $702.0K | $518.0K | |
| Pretax Income | $704.0K | $2M | $-17M | $-2M | $-9M | $-9M | $-9M | $-28M | $-8M | $-7M | $-7M | $-9M | $-8M | $-11M | $-14M | $-8M | |
| Income Tax | $44.0K | $18.0K | $-726.0K | $21.0K | $46.0K | $-4.0K | $-25.0K | $17.0K | $17.0K | $17.0K | $-32.0K | $23.0K | $22.0K | $23.0K | $-79.0K | $8.0K | |
| Net Income | $660.0K | $2M | $-16M | $-2M | $-10M | $-9M | $-9M | $-28M | $-8M | $-7M | $-7M | $-9M | $-8M | $-11M | $-14M | $-8M | |
| EPS (Basic) | $0.01 | $0.03 | $-0.22 | $-0.03 | $-0.13 | $-0.12 | $-0.13 | $-0.39 | $-0.11 | $-0.10 | $-0.10 | $-0.12 | $-0.12 | $-0.16 | $-0.20 | $-0.13 | |
| EPS (Diluted) | $0.01 | $0.03 | $-0.22 | $-0.03 | $-0.13 | $-0.12 | $-0.13 | $-0.39 | $-0.11 | $-0.10 | $-0.10 | $-0.12 | $-0.12 | $-0.16 | $-0.20 | $-0.13 | |
| Shares (Basic) | 74,895,000 | 73,822,000 | · | 72,580,000 | 73,163,000 | 72,715,000 | · | 72,309,000 | 72,017,000 | 70,628,000 | · | 69,571,000 | 69,424,000 | 68,176,000 | · | 67,493,000 | |
| Shares (Diluted) | 77,547,000 | 77,615,000 | · | 72,580,000 | 73,163,000 | 72,715,000 | · | 72,309,000 | 72,017,000 | 70,628,000 | · | 69,571,000 | 69,424,000 | 68,176,000 | · | 67,493,000 | |
| EBITDA | $310.0K | $5M | · | $-2M | $-10M | $-7M | · | $-29M | $-9M | $-5M | · | $-10M | $-9M | $-12M | · | $-8M |
Balance Sheet
| 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 | $51M | $50M | $53M | $59M | $57M | $58M | $55M | $70M | $80M | $94M | $99M | $100M | $103M | $112M | $119M | $125M | |
| Receivables | $18M | $16M | $17M | $20M | $19M | $19M | $19M | $15M | $17M | $19M | $30M | $25M | $34M | $35M | $40M | $51M | |
| Inventory | $5M | $3M | $996.0K | $3M | $4M | $1M | $2M | $1M | $1M | $1M | $1M | $984.0K | $2M | $2M | $3M | $5M | |
| Prepaid Expense | $8M | $11M | $11M | $13M | $16M | $15M | $15M | $12M | $10M | $8M | $8M | $8M | $7M | $5M | $5M | $6M | |
| Other Current Assets | $2M | $4M | $4M | $1M | $865.0K | $834.0K | $3M | $1M | $1M | $1M | $1M | $2M | $2M | $1M | $893.0K | $930.0K | |
| Current Assets | $97M | $96M | $94M | $103M | $103M | $94M | $91M | $99M | $110M | $123M | $140M | $136M | $149M | $155M | $168M | $188M | |
| PP&E (Net) | $2M | $3M | $3M | $3M | $3M | $4M | $4M | $4M | $3M | $3M | $3M | $3M | $4M | $4M | $5M | $5M | |
| PP&E (Gross) | $21M | $21M | $21M | $21M | $21M | $21M | $21M | $20M | $19M | $19M | $19M | $19M | $19M | $19M | $19M | $19M | |
| Accum. Depreciation | $18M | $18M | $18M | $17M | $17M | $17M | $16M | $16M | $16M | $16M | $16M | $15M | $15M | $15M | $14M | $14M | |
| Goodwill | $3M | $3M | $3M | $18M | $18M | $18M | $18M | $18M | $18M | $18M | $18M | $18M | $18M | $18M | $18M | $18M | |
| Intangibles | $29M | $30M | $30M | $31M | $32M | $31M | $30M | $30M | $41M | $41M | $40M | $39M | $38M | $34M | $37M | $27M | |
| Other Non-current Assets | $4M | $5M | $5M | $4M | $4M | $5M | $8M | $10M | $4M | $4M | $885.0K | $1M | $1M | $1M | $1M | $908.0K | |
| Total Assets | $140M | $140M | $140M | $164M | $165M | $158M | $158M | $166M | $182M | $195M | $209M | $205M | $217M | $221M | $237M | $247M | |
| Accounts Payable | $6M | $3M | $4M | $3M | $12M | $1M | $1M | $3M | $2M | $2M | $8M | $3M | $12M | $12M | $13M | · | |
| Accrued Liabilities | $6M | $7M | $7M | $7M | $1M | $5M | $4M | $3M | $3M | $7M | $5M | $5M | $5M | $6M | $10M | $20M | |
| Current Liabilities | $41M | $37M | $37M | $37M | $39M | $24M | $22M | $27M | $23M | $30M | $39M | $30M | $38M | $39M | $46M | $57M | |
| Capital Leases | $62.0K | $125.0K | $186.0K | $246.0K | $305.0K | $362.0K | $418.0K | $472.0K | $525.0K | $576.0K | $123.0K | $65.0K | $0 | $0 | $27.0K | $108.0K | |
| Deferred Tax | $57.0K | $55.0K | $53.0K | $854.0K | $840.0K | $809.0K | $813.0K | $849.0K | $837.0K | $825.0K | $813.0K | $795.0K | $782.0K | $770.0K | $758.0K | $748.0K | |
| Other Non-current Liabilities | $171.0K | $173.0K | $159.0K | $102.0K | $101.0K | $95.0K | $91.0K | $106.0K | $107.0K | $106.0K | $44.0K | $309.0K | $303.0K | $301.0K | $297.0K | $436.0K | |
| Total Liabilities | $46M | $43M | $44M | $45M | $47M | $32M | $31M | $37M | $33M | $41M | $50M | $41M | $49M | $51M | $65M | $70M | |
| Common Stock | $113.0K | $113.0K | $111.0K | $111.0K | $111.0K | $112.0K | $111.0K | $111.0K | $111.0K | $110.0K | $109.0K | $108.0K | $108.0K | $108.0K | $106.0K | $106.0K | |
| Retained Earnings | $-361M | $-362M | $-364M | $-348M | $-345M | $-336M | $-327M | $-318M | $-290M | $-282M | $-275M | $-268M | $-259M | $-251M | $-240M | $-222M | |
| AOCI | $-101.0K | $-104.0K | $-96.0K | $-45.0K | $-46.0K | $-41.0K | $-129.0K | $-124.0K | $-146.0K | $-125.0K | $-60.0K | $-24.0K | $-53.0K | $-42.0K | $-55.0K | $-30.0K | |
| Stockholders' Equity | $93M | $97M | $96M | $120M | $118M | $126M | $127M | $129M | $149M | $154M | $159M | $164M | $168M | $170M | $172M | $177M | |
| Liabilities + Equity | $140M | $140M | $140M | $164M | $165M | $158M | $158M | $166M | $182M | $195M | $209M | $205M | $217M | $221M | $237M | $247M | |
| Shares Outstanding | 74,736,789 | 74,819,175 | 72,773,272 | 72,220,048 | 72,441,668 | 73,319,993 | 72,514,652 | 72,380,609 | 72,223,328 | 71,757,998 | 70,239,890 | 69,623,209 | 69,466,777 | 69,388,256 | 67,431,632 | 67,300,099 |
Cash Flow
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $3M | $3M | $3M | $3M | $3M | $2M | $2M | $3M | $3M | $3M | $3M | $3M | $2M | $1M | $1M | $2M | |
| Stock-based Comp | $3M | $3M | $6M | $9M | $8M | $7M | $7M | $9M | $2M | $3M | $2M | $5M | $8M | $9M | $16M | $19M | |
| Deferred Tax | $2.0K | $2.0K | $-801.0K | $14.0K | $31.0K | $-4.0K | $-37.0K | $13.0K | $12.0K | $12.0K | $18.0K | $13.0K | $12.0K | $12.0K | $10.0K | $0 | |
| Amort. of Intangibles | $113.0K | · | · | · | $113.0K | · | · | · | · | · | · | · | · | · | · | $500.0K | |
| Restructuring | · | · | · | · | · | · | · | · | $0 | $-10.0K | · | · | $-3.0K | $1M | · | · | |
| Other Non-cash | · | $231.0K | · | · | · | $5M | · | · | · | $903.0K | · | · | · | $-290.0K | · | · | |
| Operating Cash Flow | $9M | $9M | $8M | $9M | $7M | $6M | $-11M | $-7M | $-8M | $-350.0K | $5M | $846.0K | $-4M | $-100.0K | $-4M | $12M | |
| CapEx | $246.0K | $145.0K | $30.0K | $452.0K | $134.0K | $123.0K | $2M | $49.0K | $235.0K | $97.0K | $576.0K | $80.0K | $47.0K | $223.0K | $194.0K | $174.0K | |
| Investing Cash Flow | $-2M | $-2M | $-2M | $-3M | $-2M | $-2M | $-4M | $-3M | $-5M | $-4M | $-3M | $-4M | $-4M | $-5M | $-4M | $-4M | |
| Stock Issued | · | · | · | · | · | · | · | · | · | · | · | · | $1.0K | $2M | · | $0 | |
| Stock Repurchased | $5M | $2M | $6M | $4M | $4M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $139.0K | $4M | $5M | |
| Net Stock Activity | · | $-2M | · | · | · | · | · | · | · | $0 | · | · | · | $2M | · | · | |
| Financing Cash Flow | $-6M | $-9M | $-12M | $-5M | $-5M | $-556.0K | $-393.0K | $-423.0K | $-322.0K | $-846.0K | $-2M | $-497.0K | $-1M | $-2M | $2M | $-6M | |
| Net Change in Cash | $418.0K | $-3M | $-6M | $2M | $-793.0K | $3M | $-15M | $-10M | $-14M | $-5M | $-692.0K | $-3M | $-9M | $-7M | $-6M | $3M | |
| Free Cash Flow | · | $9M | · | · | · | $6M | · | · | · | $-447.0K | · | · | · | $-323.0K | · | · | |
| Levered FCF | · | · | · | · | · | · | · | · | · | $-622.4K | · | · | · | $-572.5K | · | · |
Profitability
| 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 | 35.0% | 36.4% | · | 39.9% | 33.2% | 39.8% | · | 13.2% | 34.1% | 37.0% | · | 36.0% | 37.5% | 38.3% | · | 32.9% | |
| Operating Margin | 0.65% | 3.0% | · | -4.8% | -27.5% | -29.5% | · | -121.4% | -30.3% | -28.5% | · | -26.8% | -28.8% | -36.8% | · | -12.1% | |
| Net Margin | 1.4% | 4.2% | · | -4.1% | -26.5% | -28.1% | · | -118.0% | -27.2% | -24.9% | · | -24.0% | -24.4% | -30.5% | · | -11.5% | |
| Pretax Margin | 1.5% | 4.3% | · | -4.1% | -26.3% | -28.1% | · | -117.9% | -27.2% | -24.9% | · | -23.9% | -24.3% | -30.4% | · | -11.5% | |
| EBITDA Margin | 0.65% | 10.2% | · | -4.8% | -27.5% | -21.8% | · | -121.4% | -30.3% | -17.9% | · | -26.8% | -28.8% | -32.8% | · | -12.1% | |
| ROA | 0.43% | 1.4% | · | -1.3% | -5.5% | -4.9% | · | -15.1% | -3.9% | -3.5% | · | -3.8% | -3.5% | -4.6% | · | -3.0% | |
| ROE | 0.62% | 1.8% | · | -1.7% | -7.1% | -6.1% | · | -19.1% | -4.9% | -4.5% | · | -5.1% | -4.7% | -6.2% | · | -4.2% | |
| ROIC | 0.31% | 1.5% | · | -2.1% | -8.4% | -7.1% | · | -22.3% | -5.8% | -5.5% | · | -5.9% | -5.7% | -7.6% | · | -4.3% |
Liquidity & Solvency
| 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 | 2.4 | 2.6 | · | 2.8 | 2.7 | 4.0 | · | 3.6 | 4.8 | 4.1 | · | 4.6 | 3.9 | 4.0 | · | 3.3 | |
| Quick Ratio | 1.7 | 1.8 | · | 2.1 | 2.0 | 3.3 | · | 3.1 | 4.2 | 3.7 | · | 4.2 | 3.6 | 3.8 | · | 3.1 | |
| Interest Coverage | · | · | · | · | · | · | · | · | · | -48.2 | · | -54.5 | -51.5 | -52.1 | · | -42.4 |
Efficiency
| 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 | 0.3 | 0.3 | · | 0.3 | 0.2 | 0.2 | · | 0.1 | 0.1 | 0.1 | · | 0.2 | 0.1 | 0.2 | · | 0.3 | |
| Inventory Turnover | 6.8 | 13.9 | · | 12.9 | 8.7 | 12.5 | · | 17.3 | 12.0 | 12.1 | · | 8.2 | 7.6 | 11.7 | · | 12.7 | |
| Receivables Turnover | 2.6 | 2.7 | · | 2.9 | 2.0 | 1.6 | · | 1.2 | 1.1 | 1.1 | · | 0.9 | 0.8 | 0.8 | · | 1.3 |
Per Share
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Book Value / Share | $1.25 | $1.29 | · | $1.66 | $1.63 | $1.72 | · | $1.79 | $2.07 | $2.15 | · | $2.36 | $2.41 | $2.45 | · | $2.63 | |
| Revenue / Share | $0.62 | $0.62 | · | $0.71 | $0.49 | $0.42 | · | $0.33 | $0.40 | $0.42 | · | $0.52 | $0.47 | $0.52 | · | $0.94 | |
| Cash Flow / Share | · | $0.11 | · | · | · | $0.08 | · | · | · | $-0.01 | · | · | · | $-0.00 | · | · | |
| Cash / Share | $0.68 | $0.67 | · | $0.82 | $0.79 | $0.79 | · | $0.96 | $1.11 | $1.31 | · | $1.44 | $1.49 | $1.62 | · | $1.86 | |
| EPS (TTM) | $-0.21 | $-0.35 | · | $-0.41 | $-0.77 | $-0.75 | · | $-0.70 | $-0.43 | $-0.44 | · | $-0.60 | $-0.61 | $-0.70 | · | $-0.67 |
Valuation (TTM)
| 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 | $194M | $182M | · | $144M | $117M | $109M | · | $123M | $135M | $140M | · | $152M | $179M | $202M | · | $234M | |
| Net Income TTM | $-16M | $-26M | · | $-30M | $-56M | $-54M | · | $-50M | $-31M | $-31M | · | $-42M | $-41M | $-48M | · | $-45M | |
| Market Cap | $344M | $313M | · | $494M | $230M | $175M | · | $260M | $290M | $299M | · | $166M | $178M | $176M | · | $598M | |
| P/E | -21.9 | -12.0 | · | -16.7 | -4.1 | -3.2 | · | -5.1 | -9.3 | -9.5 | · | -4.0 | -4.2 | -3.6 | · | -13.3 | |
| P/S | 1.8 | 1.7 | · | 3.4 | 2.0 | 1.6 | · | 2.1 | 2.1 | 2.1 | · | 1.1 | 1.0 | 0.9 | · | 2.6 | |
| P/B | 3.7 | 3.2 | · | 4.1 | 1.9 | 1.4 | · | 2.0 | 1.9 | 1.9 | · | 1.0 | 1.1 | 1.0 | · | 3.4 | |
| P / Tangible Book | 5.6 | 4.9 | · | 7.0 | 3.3 | 2.3 | · | 3.2 | 3.2 | 3.1 | · | 1.6 | 1.6 | 1.5 | · | 4.5 | |
| P / Cash Flow | · | 36.2 | · | · | · | 28.6 | · | · | · | -852.9 | · | · | · | -1755.5 | · | · | |
| Earnings Yield | -4.6% | -8.3% | · | -6.0% | -24.3% | -31.5% | · | -19.5% | -10.7% | -10.6% | · | -25.1% | -23.8% | -27.7% | · | -7.5% |
Most recent period on the left · null values shown as ·
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Revenue | $165M | $108M | $145M | $217M | $242M |
| Gross Margin % | 37.0% | 31.8% | 36.4% | 36.4% | 35.5% |
| Operating Margin % | -24.2% | -51.6% | -27.7% | -24.8% | -17.1% |
| Net Income | $-37M | $-53M | $-34M | $-53M | $-43M |
| Diluted EPS | $-0.50 | $-0.73 | $-0.50 | $-0.79 | $-0.65 |
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Current Ratio | 2.6 | 4.1 | 3.6 | 3.7 | 3.8 |
| Quick Ratio | 1.9 | 3.3 | 3.3 | 3.5 | 3.7 |
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Free Cash Flow | $29M | $-28M | $661.0K | $15M | $4M |
Institutional owners (13F) 168 filers · $238.7M 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 |
|---|---|---|---|---|
| 29 (-10 vs prior Q) | 24 (-5 vs prior Q) | 74 (+15 vs prior Q) | 40 (-7 vs prior Q) | +1.3M |
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 |
|---|---|---|---|---|
| BARCLAYS PLC | $43,512,385 | 9,459,214 | 18.23% | Shares |
| BlackRock, Inc. | $19,998,090 | 4,347,411 | 8.38% | Shares |
| VANGUARD GROUP INC | $15,554,047 | 3,049,813 | 6.52% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $10,895,532 | 2,368,594 | 4.57% | Shares |
| PINNACLE ASSOCIATES LTD | $10,252,204 | 2,228,740 | 4.30% | Shares |
| AQR CAPITAL MANAGEMENT LLC | $10,058,378 | 2,186,604 | 4.21% | Shares |
| MASTERS CAPITAL MANAGEMENT LLC | $9,660,000 | 2,100,000 | 4.05% | Shares |
| D. E. Shaw & Co., Inc. | $8,919,220 | 1,938,961 | 3.74% | Shares |
| WEBER CAPITAL MANAGEMENT LLC /ADV | $8,125,992 | 1,766,520 | 3.40% | Shares |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. | $7,027,609 | 1,528,230 | 2.94% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $6,591,582 | 1,432,550 | 2.76% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $6,291,389 | 1,367,848 | 2.64% | Shares |
| STATE STREET CORP | $4,985,526 | 1,083,810 | 2.09% | Shares |
| TWO SIGMA INVESTMENTS, LP | $4,260,276 | 926,147 | 1.79% | Shares |
| RENAISSANCE TECHNOLOGIES LLC | $4,171,873 | 906,929 | 1.75% | Shares |
| TWO SIGMA ADVISERS, LP | $3,108,960 | 609,600 | 1.30% | Shares |
| KENNEDY CAPITAL MANAGEMENT LLC | $2,842,579 | 617,952 | 1.19% | Shares |
| GOLDMAN SACHS GROUP INC | $2,644,480 | 574,887 | 1.11% | Shares |
| Qube Research & Technologies Ltd | $2,493,264 | 542,014 | 1.04% | Shares |
| NORTHERN TRUST CORP | $2,337,325 | 508,114 | 0.98% | Shares |
| MACKENZIE FINANCIAL CORP | $2,295,451 | 499,011 | 0.96% | Shares |
| JACOBS LEVY EQUITY MANAGEMENT, INC | $2,282,612 | 496,220 | 0.96% | Shares |
| TOCQUEVILLE ASSET MANAGEMENT L.P. | $2,139,000 | 465,000 | 0.90% | Shares |
| Cubist Systematic Strategies, LLC | $2,094,597 | 306,228 | 0.88% | Shares |
| ALGERT GLOBAL LLC | $2,080,138 | 452,204 | 0.87% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $2,031,990 | 441,737 | 0.85% | Shares |
| CITADEL ADVISORS LLC | $1,994,408 | 433,567 | 0.84% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $1,802,409 | 391,828 | 0.76% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $1,778,015 | 386,525 | 0.74% | Shares |
| Defiance ETFs, LLC | $1,572,748 | 320,969 | 0.66% | Shares |
| LOS ANGELES CAPITAL MANAGEMENT LLC | $1,496,544 | 325,336 | 0.63% | Shares |
| MILLENNIUM MANAGEMENT LLC | $1,480,519 | 321,852 | 0.62% | Shares |
| Nuveen, LLC | $1,376,504 | 299,240 | 0.58% | Shares |
| GLOBEFLEX CAPITAL L P | $1,335,776 | 290,386 | 0.56% | Shares |
| Point72 Asset Management, L.P. | $1,329,957 | 289,121 | 0.56% | Shares |
| WHITE PINE CAPITAL LLC | $1,132,175 | 246,125 | 0.47% | Shares |
| BNP PARIBAS FINANCIAL MARKETS | $1,036,555 | 225,338 | 0.43% | Shares |
| Connor, Clark & Lunn Investment Management Ltd. | $1,028,045 | 223,488 | 0.43% | Shares |
| Man Group plc | $965,545 | 209,901 | 0.40% | Shares |
| Pathstone Holdings, LLC | $888,752 | 193,207 | 0.37% | Shares |
| MORGAN STANLEY | $873,632 | 189,920 | 0.37% | Shares |
| STATE OF WISCONSIN INVESTMENT BOARD | $777,046 | 168,923 | 0.33% | Shares |
| Cassaday & Co Wealth Management LLC | $725,190 | 157,650 | 0.30% | Shares |
| ExodusPoint Capital Management, LP | $717,002 | 155,870 | 0.30% | Shares |
| CITIGROUP INC | $699,936 | 152,160 | 0.29% | Shares |
| Invesco Ltd. | $673,868 | 146,493 | 0.28% | Shares |
| VICTORY CAPITAL MANAGEMENT INC | $632,348 | 137,467 | 0.26% | Shares |
| Integrated Quantitative Investments LLC | $617,003 | 134,131 | 0.26% | Shares |
| CANADA PENSION PLAN INVESTMENT BOARD | $559,360 | 121,600 | 0.23% | Shares |
| IEQ CAPITAL, LLC | $555,091 | 120,672 | 0.23% | Shares |
Activists & 5%+ owners 47 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 |
|---|---|---|---|---|---|
| John B. Wood | July 24, 2026 | 9.10% | Initial filing | Passive investment | SEC |
| Wynnefield Partners Small Cap Value, L.P. S.S. OR, Wynnefield Small Cap Value Offshore Fund, Ltd., Wynnefield Partners Small Cap Value, L.P. I, Nelson Obus, Joshua H. Landes, Wynnefield Capital Management LLC, Wynnefield Capital, Inc., Wynnefield Capital, Inc. Profit Sharing Plan, Minerva Advisors LLC, Minerva Group, LP, Minerva GP, LP, Minerva GP, Inc., David P. Cohen, Victor Morgenstern Grantor Remainder Annuity Trust 2020 #2, Judd Morgenstern Revocable Trust, Jennifer Morgenstern Irrevocable Trust, Judd Morgenstern Irrevocable Trust, Robyn Morgenstern Irrevocable Trust, Victor A. Morgenstern Grandchildren Trust, Victor Morgenstern, Faye Morgenstern, Judd Morgenstern, Jennifer Morgenstern, Robyn Morgenstern, Antonio Gracias, Gary I. Levenstein ×11 filings | Nov. 20, 2020 | · | Initial filing | · | SEC |
| Value Partners, Ltd., Ewing & Partners, Ewing Asset Management, LLC, Timothy G. Ewing ×6 filings | Nov. 17, 2015 | · | Initial filing | · | SEC |
| Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person | Aug. 15, 2013 | · | Initial filing | · | SEC |
| Costa Brava Partnership III L.P. S.S. OR, Roark, Rearden & Hamot, LLC S.S. OR, Seth W. Hamot (a) £ ×2 filings | Sept. 19, 2012 | · | Initial filing | · | SEC |
| Undisclosed reporting person, Undisclosed reporting person | June 23, 2009 | · | Initial filing | Passive investment | SEC |
| IRS IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Victor Morgenstern, IRS IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Faye Morgenstern, IRS IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Judd Morgenstern, IRS IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Jennifer Morgenstern Irrevocable Trust, IRS IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Robyn Morgenstern Irrevocable Trust, IRS IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Judd Morgenstern Irrevocable Trust | March 10, 2009 | · | Initial filing | · | SEC |
| Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person | Feb. 20, 2008 | · | Initial filing | · | SEC |
| Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person | Dec. 14, 2007 | · | Initial filing | · | SEC |
| Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person | Dec. 11, 2007 | · | Initial filing | · | SEC |
| Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person | Oct. 25, 2007 | · | Initial filing | · | SEC |
| Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person | Oct. 18, 2007 | · | Initial filing | · | SEC |
| Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person | Oct. 2, 2007 | · | Initial filing | · | SEC |
| Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person | Sept. 24, 2007 | · | Initial filing | · | SEC |
| Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person | Sept. 13, 2007 | · | Initial filing | · | SEC |
| Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person | Sept. 5, 2007 | · | Initial filing | · | SEC |
| Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person | Aug. 3, 2007 | · | Initial filing | · | SEC |
| Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person | July 26, 2007 | · | Initial filing | · | SEC |
| Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person | July 20, 2007 | · | Initial filing | · | SEC |
| Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person | March 8, 2007 | · | Initial filing | · | SEC |
| Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person | March 7, 2007 | · | Initial filing | · | SEC |
| Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person | Feb. 21, 2007 | · | Initial filing | · | SEC |
| Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person | Feb. 16, 2007 | · | Initial filing | · | SEC |
| Undisclosed reporting person, Undisclosed reporting person | Feb. 14, 2007 | · | Initial filing | Passive investment | SEC |
| Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person | Feb. 12, 2007 | · | Initial filing | · | SEC |
| Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person | Feb. 8, 2007 | · | Initial filing | · | SEC |
| Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person | June 5, 2006 | · | Initial filing | · | SEC |
| Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person | June 2, 2006 | · | Initial filing | · | SEC |
| Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person | Feb. 9, 2006 | · | Initial filing | · | SEC |
| Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person | Feb. 9, 2006 | · | Initial filing | · | SEC |
| Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person | Jan. 13, 2006 | · | Initial filing | · | SEC |
| Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person | Dec. 29, 2005 | · | Initial filing | · | SEC |
| Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person | Nov. 14, 2005 | · | Initial filing | · | SEC |
| Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person | Oct. 18, 2005 | · | Initial filing | · | SEC |
| Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person | Sept. 26, 2005 | · | Initial filing | · | SEC |
| Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person | Sept. 13, 2005 | · | Initial filing | · | SEC |
| Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person | July 13, 2005 | · | Initial filing | · | SEC |
| Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person | June 6, 2005 | · | Initial filing | · | SEC |
| Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person | June 6, 2005 | · | Initial filing | · | SEC |
| Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person | May 9, 2005 | · | Initial filing | · | SEC |
| Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person | May 9, 2005 | · | Initial filing | · | SEC |
| Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person | April 1, 2005 | · | Initial filing | · | SEC |
| Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person | March 25, 2005 | · | Initial filing | · | SEC |
| Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person | March 24, 2005 | · | Initial filing | Board campaign | SEC |
| Victor Morgenstern, Faye Morgenstern, Judd Morgenstern, Morningstar Trust Faye Morgenstern Trustee U/A 02/21/81 FEIN ×2 filings | March 21, 2005 | · | Initial filing | · | SEC |
| Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person | April 21, 2004 | · | Initial filing | · | SEC |
| Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person | Dec. 18, 2003 | · | 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.
Company insiders 44 insiders · 20 officers · 16 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| John B Wood | Chairman and CEO | Sept. 21, 2026 S | 1,505,867 | 0 | 3 | $-2,064,912 |
| Gary Mark Bendza | EVP, CFO | Sept. 18, 2026 S | 337,008 | 0 | 8 | $-4,719,142 |
| Michele Nakazawa | EVP, CFO | July 1, 2021 S | 448,896 | 0 | 0 | $0 |
| Edward L Williams | EVP, COO | Sept. 30, 2021 S | 348,852 | 0 | 0 | $0 |
| Edward Hutchinson Robbins Jr. | EVP, General Counsel | Sept. 2, 2026 S | 589,915 | 0 | 3 | $-703,297 |
| Donald Joseph Terreri | Controller, Chief Acct Officer | Aug. 14, 2026 F | 33,483 | 0 | 0 | $0 |
| Donna K. Hill | VP, Human Resources | May 26, 2026 A | 133,320 | 0 | 0 | $0 |
| Malcolm G. Cooke | VP, Chief Info Tech Officer | May 26, 2026 A | 189,466 | 0 | 0 | $0 |
| Victoria A. Harding | Controller, Chief Acct Officer | May 16, 2025 F | 106,170 | 0 | 0 | $0 |
| Emmett J. Wood | EVP, Marketing & Strategy | Jan. 20, 2023 F | 348,426 | 0 | 0 | $0 |
| Brendan D Malloy | EVP, Secure Networks | Dec. 1, 2022 F | 390,685 | 0 | 0 | $0 |
| Jefferson V. Wright | EVP, General Counsel | Jan. 31, 2022 A | 78,697 | 0 | 0 | $0 |
| Kenneth F Fagan Jr. | VP, Secure Communications | Jan. 21, 2022 F | 49,583 | 0 | 0 | $0 |
| Rinaldi D Pisani | SVP, Sales & Alliance | Jan. 21, 2022 F | 96,083 | 0 | 0 | $0 |
| David S Easley | VP, Finance & Controller | April 1, 2021 S | 203,559 | 0 | 0 | $0 |
| Robert Marino | EVP Special Projects | Aug. 1, 2011 G | 562,052 | 0 | 0 | $0 |
| Flaherty Michael P | EVP, Gen Counsel, CAO | Feb. 11, 2011 A | 890,000 | 0 | 0 | $0 |
| Robert J Brandewie | Sr. VP, Identity and Security | June 4, 2008 A | 75,000 | 0 | 0 | $0 |
| Ronald J Dorman | VP, Information Assurance | June 4, 2008 D | 101,250 | 0 | 0 | $0 |
| James W Morehouse | VP, Strategic Programs | June 4, 2008 D | 77,500 | 0 | 0 | $0 |
| Derrick D. Dockery | Director | Aug. 21, 2026 S | 156,591 | 0 | 6 | $-261,318 |
| Bradley W. Jacobs | Director | June 22, 2026 S | 166,612 | 0 | 1 | $-240,377 |
| Fredrick Schaufeld | Director | May 26, 2026 A | 250,909 | 0 | 5 | $-1,941,133 |
| Bonnie Lynn Carroll | Director | May 26, 2026 A | 182,582 | 0 | 0 | $0 |
| John W Maluda | Director | May 26, 2026 A | 219,478 | 0 | 0 | $0 |
| Bernard C Bailey | Director | May 17, 2022 A | 16,665 | 0 | 0 | $0 |
| William M Dvoranchik | Director | Feb. 11, 2011 A | 100,000 | 0 | 0 | $0 |
| Jerry O Tuttle | Director | Feb. 11, 2011 A | 100,000 | 0 | 0 | $0 |
| Bruce R Harris | Director | Feb. 11, 2011 A | 100,000 | 0 | 0 | $0 |
| Charles S Mahan Jr | Director | Feb. 11, 2011 A | 100,000 | 0 | 0 | $0 |
| Geoffrey B Baker | Director | Aug. 18, 2004 A | · | 0 | 0 | $0 |
| Langhorne A Motley | Director | Aug. 18, 2004 A | · | 0 | 0 | $0 |
| Malcolm M B Sterrett | Director | Aug. 18, 2004 A | · | 0 | 0 | $0 |
| Norman P Byers | Director | Oct. 23, 2002 A | · | 0 | 0 | $0 |
| JRP Settlement | 10% owner | Sept. 22, 2021 S | 9,264,804 | 0 | 0 | $0 |
| Shirley Porter | 10% owner | Sept. 22, 2021 S | 9,264,804 | 0 | 0 | $0 |
| John Rober Camber Porter ET AL | 10% owner | Sept. 22, 2021 S | 9,264,804 | 0 | 0 | $0 |
| Toxford Corp/Panama | 10% owner | July 16, 2021 J | 0 | 0 | 0 | $0 |
| Mark D Griffin | · | May 26, 2026 A | 1,454,253 | 0 | 0 | $0 |
| David Borland | · | May 26, 2026 A | 227,909 | 0 | 0 | $0 |
| Richard P Tracy | · | Jan. 21, 2022 F | 74,816 | 0 | 0 | $0 |
| Alvin F Whitehead | · | Dec. 23, 2013 G | 530,000 | 0 | 0 | $0 |
| Ralph M Buona | · | March 28, 2013 A | 197,700 | 0 | 0 | $0 |
| Francis M Masters | · | Dec. 18, 2012 G | 100,700 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
ETF ownership Held by 49 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 |
|---|---|---|---|---|
| IXP · iShares Trust | 0.97% | 1,312,297 SH | Sept. 11, 2026 | Daily |
| EWA · iShares, Inc. | 0.92% | 3,371,269 SH | Sept. 11, 2026 | Daily |
| IDLV · Invesco Exchange-Traded Fund Trust … | 0.65% | 620,160 SH | Oct. 2, 2026 | Daily |
| EPP · iShares, Inc. | 0.58% | 3,875,620 SH | Sept. 11, 2026 | Daily |
| EFAV · iShares Trust | 0.50% | 7,951,524 SH | Sept. 11, 2026 | Daily |
| INTF · iShares Trust | 0.27% | 2,924,974 SH | Sept. 11, 2026 | Daily |
| IQLT · iShares Trust | 0.15% | 5,895,946 SH | Sept. 11, 2026 | Daily |
| IPAC · iShares Trust | 0.14% | 1,116,589 SH | Sept. 11, 2026 | Daily |
| EFG · iShares Trust | 0.12% | 6,058,890 SH | Sept. 11, 2026 | Daily |
| DMXF · iShares Trust | 0.12% | 335,034 SH | Sept. 11, 2026 | Daily |
| KNCT · Invesco Exchange-Traded Fund Trust | 0.12% | 58,212 SH | Oct. 2, 2026 | Daily |
| VPL · VANGUARD INTERNATIONAL EQUITY INDEX… | 0.11% | 4,243,093 SH | Aug. 19, 2026 | Daily |
| IMFL · Invesco Exchange-Traded Self-Indexe… | 0.08% | 268,497 SH | Oct. 2, 2026 | Daily |
| VYMI · VANGUARD WHITEHALL FUNDS | 0.08% | 4,501,805 SH | Aug. 19, 2026 | Daily |
| IWC · iShares Trust | 0.06% | 190,280 SH | Sept. 11, 2026 | Daily |
| EFA · iShares Trust | 0.06% | 13,861,880 SH | Sept. 10, 2026 | Daily |
| OMFS · Invesco Exchange-Traded Self-Indexe… | 0.06% | 35,301 SH | Oct. 2, 2026 | Daily |
| IEFA · iShares Trust | 0.05% | 30,463,837 SH | Sept. 11, 2026 | Daily |
| CRBN · iShares Trust | 0.05% | 182,330 SH | Sept. 11, 2026 | Daily |
| PXF · Invesco Exchange-Traded Fund Trust … | 0.05% | 432,877 SH | Oct. 2, 2026 | Daily |
| IDEV · iShares Trust | 0.05% | 4,445,174 SH | Sept. 10, 2026 | Daily |
| VEA · VANGUARD TAX-MANAGED FUNDS | 0.04% | 38,309,780 SH | Aug. 19, 2026 | Daily |
| VSGX · VANGUARD WORLD FUND | 0.04% | 796,071 SH | Aug. 19, 2026 | Daily |
| ACWX · iShares Trust | 0.03% | 1,260,522 SH | Sept. 10, 2026 | Daily |
| IXUS · iShares Trust | 0.03% | 5,484,846 SH | Sept. 11, 2026 | Daily |
| VXUS · VANGUARD STAR FUNDS | 0.03% | 57,865,066 SH | Aug. 19, 2026 | Daily |
| VEU · VANGUARD INTERNATIONAL EQUITY INDEX… | 0.03% | 9,172,155 SH | Aug. 19, 2026 | Daily |
| VTWG · VANGUARD SCOTTSDALE FUNDS | 0.02% | 60,343 SH | Aug. 19, 2026 | Daily |
| IWO · iShares Trust | 0.02% | 525,617 SH | Sept. 11, 2026 | Daily |
| TOK · iShares Trust | 0.02% | 11,637 SH | Sept. 9, 2026 | Daily |
| GLOF · iShares Trust | 0.02% | 9,179 SH | Sept. 9, 2026 | Daily |
| URTH · iShares, Inc. | 0.02% | 371,001 SH | Sept. 10, 2026 | Daily |
| PRFZ · Invesco Exchange-Traded Fund Trust | 0.01% | 83,909 SH | Oct. 2, 2026 | Daily |
| ACWI · iShares Trust | 0.01% | 1,291,824 SH | Sept. 11, 2026 | Daily |
| VT · VANGUARD INTERNATIONAL EQUITY INDEX… | 0.01% | 3,028,220 SH | Aug. 19, 2026 | Daily |
| VTWO · VANGUARD SCOTTSDALE FUNDS | 0.01% | 322,208 SH | Aug. 19, 2026 | Daily |
| IWM · iShares Trust | 0.01% | 1,473,150 SH | Sept. 11, 2026 | Daily |
| RSSL · Global X Funds | 0.01% | 26,733 NS | July 31, 2026 | N-PORT |
| DFAS · Dimensional ETF Trust | 0.01% | 256,296 NS | July 31, 2026 | N-PORT |
| DFAC · Dimensional ETF Trust | 0.00% | 159,038 NS | July 31, 2026 | N-PORT |
| DFSU · Dimensional ETF Trust | 0.00% | 7,829 NS | July 31, 2026 | N-PORT |
| ITOT · iShares Trust | 0.00% | 128,368 SH | Sept. 11, 2026 | Daily |
| DFAU · Dimensional ETF Trust | 0.00% | 13,674 NS | July 31, 2026 | N-PORT |
| DCOR · Dimensional ETF Trust | 0.00% | 3,810 NS | July 31, 2026 | N-PORT |
| DFUS · Dimensional ETF Trust | 0.00% | 6,836 NS | July 31, 2026 | N-PORT |
| VXF · VANGUARD INDEX FUNDS | 0.00% | 623,605 SH | Aug. 19, 2026 | Daily |
| VTI · VANGUARD INDEX FUNDS | 0.00% | 1,697,135 SH | Aug. 19, 2026 | Daily |
| VTHR · VANGUARD SCOTTSDALE FUNDS | 0.00% | 3,974 SH | Aug. 19, 2026 | Daily |
| DXUV · Dimensional ETF Trust | 0.00% | 24 NS | July 31, 2026 | N-PORT |
TLS Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
12-Month Price Target
6 analysts · 2026-10-01Mean target $6.33 +51.2%
Peer comparison (GICS sub-industry) Key metrics vs sector peers
FY basis, prices as of each company's last fiscal year-end close.
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| TLS | $371M | -10.2 | 52.2% | -22.2% | -34.1% | 37.0% |
| RPD | · | 42.2 | 1.9% | · | · | · |
| NABL | · | -74.8 | 9.3% | -3.7% | · | 76.9% |
| OSPN | $480M | 6.8 | 0.00% | 30.0% | 28.3% | 73.8% |
| XPER | $275M | -4.8 | -9.2% | -12.6% | -13.5% | · |
| SVCO | $125M | -2.9 | 5.7% | -65.3% | -53.3% | 78.3% |
| DUOT | $230M | -17.6 | 271.2% | -36.4% | -36.9% | 29.1% |
| AISP | · | · | · | · | · | · |
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