TLS Telos Corporation - Common Stock
$4.35
Price · Aug 19, 2026
Fundamentals as of Aug 10, 2026
52W Range
$4–$8
12% of range
Analyst Rating
BUY
10 analysts
Price Target
$7
+57% upside
P/E (TTM)
-8.9
ROE
-34.1%
Net Profit Margin
-22.2%
TLS Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$4.35
Market Cap
$325M
P/E (TTM)
-8.9
EPS (TTM)
$-0.50
Revenue (TTM)
$165M
Div Yield
—
ROE
-34.1%
Debt/Equity
—
52W Range
$4 – $8
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
Revenue & Net Income
$165M
2018-12-31
→
2025-12-31
EPS
$-0.50
2018-12-31
→
2025-12-31
Free Cash Flow
$29M
2018-12-31
→
2025-12-31
Margins
-22.2%
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
TLS
Peer Median
P/E (TTM)
-8.9
24.3
P/S (TTM)
2.0
3.1
P/B
3.4
3.9
Price / FCF
11.1
—
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Metric
5Y trend
TLS
Peer Median
Gross Margin
37.0%
70.6%
Operating Margin
-24.2%
—
Net Profit Margin
-22.2%
-6.1%
ROA
-24.5%
-4.1%
ROE
-34.1%
-6.2%
ROIC
-40.8%
—
Financial Health Debt, liquidity, solvency — balance sheet strength
Metric
5Y trend
TLS
Peer Median
Current Ratio
2.6
1.4
Quick Ratio
1.9
—
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Metric
5Y trend
TLS
Peer Median
Revenue YoY
52.2%
—
Revenue CAGR 3Y
-8.8%
—
Revenue CAGR 5Y
-1.7%
—
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
Metric
5Y trend
TLS
Peer Median
TLS Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
BUY
10 analysts
- Strong Buy 2 20.0%
- Buy 5 50.0%
- Hold 3 30.0%
- Sell 0 0.0%
- Strong Sell 0 0.0%
12-Month Price Target
6 analysts · 2026-08-13
Median
$7.00
Now
$4.35
Low
$4.00
High
$9.00
Median target
$7.00
+60.9%
Mean target
$6.83
+57.1%
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
0.04%
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| June 30, 2026 | $0.04 | $0.02 | 0.02% |
| March 31, 2026 | $0.06 | $0.02 | 0.04% |
| Dec. 31, 2025 | $0.06 | $0.02 | 0.04% |
| Sept. 30, 2025 | $0.09 | $0.02 | 0.07% |
| June 30, 2025 | $-0.03 | $-0.05 | 0.02% |
| March 31, 2025 | $-0.03 | $-0.05 | 0.02% |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| 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% | — |
| DUOT | $230M | -17.6 | 271.2% | -36.4% | -36.9% | 29.1% |
| SVCO | $125M | -2.9 | 5.7% | -65.3% | -53.3% | 78.3% |
| AISP | — | — | — | — | — | — |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement 17
| 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 28
| 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 17
| 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 8
| 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 3
| 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 3
| 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 |
Growth Rates 3
| 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) 10
| 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 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 | $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 | -145,580,000 | 72,580,000 | 73,163,000 | 72,715,000 | -143,104,000 | 72,309,000 | 72,017,000 | 70,628,000 | -137,915,000 | 69,571,000 | 69,424,000 | 68,176,000 | -135,369,000 | 67,493,000 | |
| Shares (Diluted) | 77,547,000 | 77,615,000 | -145,580,000 | 72,580,000 | 73,163,000 | 72,715,000 | -143,104,000 | 72,309,000 | 72,017,000 | 70,628,000 | -137,915,000 | 69,571,000 | 69,424,000 | 68,176,000 | -135,369,000 | 67,493,000 | |
| EBITDA | $310.0K | $5M | · | $-2M | $-10M | $-7M | · | $-29M | $-9M | $-5M | · | $-10M | $-9M | $-12M | · | $-8M |
Balance Sheet 26
| 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 16
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $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 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 | 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 3
| 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 3
| 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 |
Valuation (TTM) 10
| 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 | $183M | $166M | · | $142M | $119M | $113M | · | $118M | $127M | $134M | · | $152M | $179M | $202M | · | $234M | |
| Net Income TTM | $-9M | $-18M | · | $-48M | $-54M | $-52M | · | $-52M | $-32M | $-35M | · | $-42M | $-41M | $-48M | · | $-45M | |
| Market Cap | $344M | $313M | · | $494M | $230M | $175M | · | $260M | $290M | $299M | · | $166M | $178M | $176M | · | $598M | |
| P/E | -38.3 | -16.8 | · | -10.2 | -4.2 | -3.3 | · | -5.0 | -8.9 | -8.3 | · | -3.9 | -4.1 | -3.6 | · | -13.3 | |
| P/S | 1.9 | 1.9 | · | 3.5 | 1.9 | 1.6 | · | 2.2 | 2.3 | 2.2 | · | 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 | · | · | |
| P / FCF | · | 36.8 | · | · | · | 29.2 | · | · | · | -667.8 | · | · | · | -543.5 | · | · | |
| Earnings Yield | -2.6% | -6.0% | · | -9.8% | -23.7% | -30.2% | · | -20.1% | -11.2% | -12.0% | · | -25.5% | -24.2% | -28.1% | · | -7.5% |
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 | $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 |
Balance Sheet
| 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 |
Cash Flow
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Free Cash Flow | $29M | $-28M | $661.0K | $15M | $4M |
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Institutional owners (13F) 170 filers · $150.7M 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.
Institutional activity — Q2 2026 vs prior quarter
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 35 (+1 vs prior Q) | 24 (-6 vs prior Q) | 68 (+12 vs prior Q) | 38 (-8 vs prior Q) | +2.9M |
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 |
|---|---|---|---|---|
| VANGUARD GROUP INC | $13,629,674 | 2,672,485 | 9.05% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $10,895,532 | 2,368,594 | 7.23% | Shares |
| PINNACLE ASSOCIATES LTD | $10,252,204 | 2,228,740 | 6.81% | Shares |
| MASTERS CAPITAL MANAGEMENT LLC | $9,660,000 | 2,100,000 | 6.41% | Shares |
| WEBER CAPITAL MANAGEMENT LLC /ADV | $8,125,992 | 1,766,520 | 5.39% | Shares |
| D. E. Shaw & Co., Inc. | $7,038,524 | 1,530,114 | 4.67% | Shares |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. | $6,914,918 | 1,503,243 | 4.59% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $5,801,170 | 1,261,124 | 3.85% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $5,660,717 | 1,230,188 | 3.76% | Shares |
| STATE STREET CORP | $4,985,526 | 1,083,810 | 3.31% | Shares |
| TWO SIGMA INVESTMENTS, LP | $4,260,276 | 926,147 | 2.83% | Shares |
| RENAISSANCE TECHNOLOGIES LLC | $4,171,873 | 906,929 | 2.77% | Shares |
| TWO SIGMA ADVISERS, LP | $3,108,960 | 609,600 | 2.06% | Shares |
| KENNEDY CAPITAL MANAGEMENT LLC | $2,842,579 | 617,952 | 1.89% | Shares |
| Qube Research & Technologies Ltd | $2,493,264 | 542,014 | 1.65% | Shares |
| MACKENZIE FINANCIAL CORP | $2,295,451 | 499,011 | 1.52% | Shares |
| JACOBS LEVY EQUITY MANAGEMENT, INC | $2,282,612 | 496,220 | 1.52% | Shares |
| TOCQUEVILLE ASSET MANAGEMENT L.P. | $2,139,000 | 465,000 | 1.42% | Shares |
| Cubist Systematic Strategies, LLC | $2,094,597 | 306,228 | 1.39% | Shares |
| ALGERT GLOBAL LLC | $2,080,138 | 452,204 | 1.38% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $2,031,990 | 441,737 | 1.35% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $1,802,409 | 391,828 | 1.20% | Shares |
| Nuveen Asset Management, LLC | $1,791,882 | 523,942 | 1.19% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $1,778,015 | 386,525 | 1.18% | Shares |
| Defiance ETFs, LLC | $1,572,748 | 320,969 | 1.04% | Shares |
| LOS ANGELES CAPITAL MANAGEMENT LLC | $1,496,544 | 325,336 | 0.99% | Shares |
| MILLENNIUM MANAGEMENT LLC | $1,480,519 | 321,852 | 0.98% | Shares |
| GLOBEFLEX CAPITAL L P | $1,335,776 | 290,386 | 0.89% | Shares |
| Point72 Asset Management, L.P. | $1,329,957 | 289,121 | 0.88% | Shares |
| CITADEL ADVISORS LLC | $1,231,135 | 267,638 | 0.82% | Shares |
| WHITE PINE CAPITAL LLC | $1,132,175 | 246,125 | 0.75% | Shares |
| BNP PARIBAS FINANCIAL MARKETS | $1,036,555 | 225,338 | 0.69% | Shares |
| Connor, Clark & Lunn Investment Management Ltd. | $1,028,045 | 223,488 | 0.68% | Shares |
| Man Group plc | $965,545 | 209,901 | 0.64% | Shares |
| STATE OF WISCONSIN INVESTMENT BOARD | $777,046 | 168,923 | 0.52% | Shares |
| GOLDMAN SACHS GROUP INC | $771,604 | 167,740 | 0.51% | Shares |
| Cassaday & Co Wealth Management LLC | $725,190 | 157,650 | 0.48% | Shares |
| ExodusPoint Capital Management, LP | $717,002 | 155,870 | 0.48% | Shares |
| VICTORY CAPITAL MANAGEMENT INC | $632,348 | 137,467 | 0.42% | Shares |
| Integrated Quantitative Investments LLC | $617,003 | 134,131 | 0.41% | Shares |
| CANADA PENSION PLAN INVESTMENT BOARD | $559,360 | 121,600 | 0.37% | Shares |
| IEQ CAPITAL, LLC | $555,091 | 120,672 | 0.37% | Shares |
| PRUDENTIAL FINANCIAL INC | $532,082 | 115,670 | 0.35% | Shares |
| FMR LLC | $530,265 | 115,275 | 0.35% | Shares |
| Manatuck Hill Partners, LLC | $506,000 | 110,000 | 0.34% | Shares |
| State of Wyoming | $473,414 | 102,916 | 0.31% | Shares |
| AMERICAN CENTURY COMPANIES INC | $469,425 | 102,049 | 0.31% | Shares |
| Mariner, LLC | $422,854 | 91,930 | 0.28% | Shares |
| LPL Financial LLC | $421,480 | 91,626 | 0.28% | Shares |
| Waverly Advisors, LLC | $400,209 | 87,002 | 0.27% | Shares |
| STIFEL FINANCIAL CORP | $398,435 | 86,617 | 0.26% | Shares |
| Pathstone Holdings, LLC | $398,291 | 86,585 | 0.26% | Shares |
| OSAIC HOLDINGS, INC. | $365,534 | 79,464 | 0.24% | Shares |
| BRIDGEWAY CAPITAL MANAGEMENT, LLC | $348,565 | 75,775 | 0.23% | Shares |
| NewEdge Advisors, LLC | $345,856 | 75,186 | 0.23% | Shares |
| Y-Intercept (Hong Kong) Ltd | $341,403 | 74,218 | 0.23% | Shares |
| AMERIPRISE FINANCIAL INC | $320,459 | 69,665 | 0.21% | Shares |
| SEI INVESTMENTS CO | $298,177 | 64,821 | 0.20% | Shares |
| CITIGROUP INC | $294,170 | 63,950 | 0.20% | Shares |
| RHUMBLINE ADVISERS | $287,870 | 62,582 | 0.19% | Shares |
| Hillsdale Investment Management Inc. | $261,740 | 56,900 | 0.17% | Shares |
| MORGAN STANLEY | $255,134 | 55,464 | 0.17% | Shares |
| Squarepoint Ops LLC | $248,924 | 54,114 | 0.17% | Shares |
| Balyasny Asset Management L.P. | $247,521 | 53,809 | 0.16% | Shares |
| ALLIANCEBERNSTEIN L.P. | $225,296 | 53,770 | 0.15% | Shares |
| NEUBERGER BERMAN GROUP LLC | $214,089 | 46,541 | 0.14% | Shares |
| MERCER GLOBAL ADVISORS INC /ADV | $212,410 | 46,176 | 0.14% | Shares |
| BARCLAYS PLC | $187,179 | 40,691 | 0.12% | Shares |
| JANE STREET GROUP, LLC | $179,759 | 39,078 | 0.12% | Shares |
| BANK OF AMERICA CORP /DE/ | $177,486 | 38,584 | 0.12% | Shares |
| WEALTH ENHANCEMENT ADVISORY SERVICES, LLC | $173,699 | 35,594 | 0.12% | Shares |
| CITADEL ADVISORS LLC | $164,220 | 35,700 | 0.11% | Call option |
| FRANKLIN RESOURCES INC | $156,570 | 34,037 | 0.10% | Shares |
| ZACKS INVESTMENT MANAGEMENT | $155,715 | 33,851 | 0.10% | Shares |
| MetLife Investment Management, LLC | $154,689 | 33,628 | 0.10% | Shares |
| CWM, LLC | $153,895 | 36,729 | 0.10% | Shares |
| Y.D. More Investments Ltd | $140,811 | 30,611 | 0.09% | Shares |
| Bank of New York Mellon Corp | $140,447 | 30,532 | 0.09% | Shares |
| Baird Financial Group, Inc. | $138,000 | 30,000 | 0.09% | Shares |
| LeConte Wealth Management, LLC | $131,155 | 28,512 | 0.09% | Shares |
| Worth Venture Partners, LLC | $128,800 | 28,000 | 0.09% | Shares |
| PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO | $127,645 | 27,749 | 0.08% | Shares |
| BlackRock, Inc. | $127,544 | 27,727 | 0.08% | Shares |
| Mirae Asset Global Investments Co., Ltd. | $126,532 | 27,507 | 0.08% | Shares |
| Atlantic Union Bankshares Corp | $121,688 | 26,454 | 0.08% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $121,440 | 26,400 | 0.08% | Call option |
| OneDigital Investment Advisors LLC | $114,990 | 25,025 | 0.08% | Shares |
| HSBC HOLDINGS PLC | $109,740 | 24,441 | 0.07% | Shares |
| OPPENHEIMER & CO INC | $109,687 | 23,845 | 0.07% | Shares |
| Graham Capital Management, L.P. | $108,192 | 23,520 | 0.07% | Shares |
| CAPTRUST FINANCIAL ADVISORS | $107,589 | 23,389 | 0.07% | Shares |
| Independent Advisor Alliance | $107,581 | 23,387 | 0.07% | Shares |
| STRS OHIO | $106,260 | 23,100 | 0.07% | Shares |
| LAZARD ASSET MANAGEMENT LLC | $104,940 | 22,813 | 0.07% | Shares |
| JPMORGAN CHASE & CO | $104,646 | 23,203 | 0.07% | Shares |
| Nuveen, LLC | $104,411 | 22,698 | 0.07% | Shares |
| Invesco Ltd. | $102,401 | 22,261 | 0.07% | Shares |
| TOTH FINANCIAL ADVISORY CORP | $97,939 | 21,291 | 0.07% | Shares |
| Wealth Quarterback LLC | $96,600 | 21,000 | 0.06% | Shares |
| Vanguard Global Advisers, LLC | $95,312 | 20,720 | 0.06% | Shares |
Company insiders 44 insiders · 15 officers · 14 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Gary Mark Bendza | EVP, CFO | June 26, 2026 S | 737,008 | 0 | 3 | $-1,077,350 |
| Victoria A. Harding | Controller, Chief Acct Officer | March 1, 2025 F | 108,970 | 0 | 0 | $0 |
| Edward Hutchinson Robbins Jr. | EVP, General Counsel | Feb. 1, 2025 F | 447,727 | 0 | 0 | $0 |
| Donna K. Hill | VP, Human Resources | May 28, 2024 A | 55,196 | 0 | 0 | $0 |
| Malcolm G. Cooke | VP, Chief Info Tech Officer | May 28, 2024 A | 86,987 | 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 |
| 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 |
| Bradley W. Jacobs | Director | June 22, 2026 S | 166,612 | 0 | 1 | $-240,377 |
| Fredrick Schaufeld | Director | Aug. 14, 2024 P | 1,594,147 | 0 | 0 | $0 |
| Bonnie Lynn Carroll | Director | May 21, 2024 A | 131,848 | 0 | 0 | $0 |
| John W Maluda | Director | May 21, 2024 A | 175,784 | 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 |
| Donald Joseph Terreri | — | Aug. 14, 2026 F | 33,483 | 0 | 0 | $0 |
| Derrick D. Dockery | — | Aug. 12, 2026 S | 168,591 | 0 | 2 | $-78,260 |
| Mark D Griffin | — | May 26, 2026 A | 1,454,253 | 0 | 0 | $0 |
| John B Wood | — | May 26, 2026 A | 5,578,962 | 0 | 4 | $-4,070,387 |
| David Borland | — | May 26, 2026 A | 227,909 | 0 | 0 | $0 |
| Richard P Tracy | — | Jan. 21, 2022 F | 74,816 | 0 | 0 | $0 |
| David S Easley | — | May 11, 2017 A | 545,000 | 0 | 0 | $0 |
| Edward L Williams | — | May 11, 2017 A | 2,120,000 | 0 | 0 | $0 |
| Michele Nakazawa | — | May 11, 2017 A | 1,565,000 | 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
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 | — | 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 |
Purpose is an automated classification of the filer's own stated purpose (SEC Item 4) — not investment advice. "—" means no clear purpose was stated or the text could not be classified.
ETF ownership Held by 61 ETFs
Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.
| Fund | Weight | Units | As of | Source |
|---|---|---|---|---|
| IXP · iShares Trust | 0.99% | 1,620,511 SH | Aug. 8, 2026 | Daily |
| EWA · iShares, Inc. | 0.91% | 3,831,132 SH | Aug. 8, 2026 | Daily |
| IDLV · Invesco Exchange-Traded Fund Trust … | 0.64% | 630,568 SH | Aug. 8, 2026 | Daily |
| BUG · Global X Funds | 0.59% | 1,437,375 NS | May 31, 2026 | N-PORT |
| EPP · iShares, Inc. | 0.58% | 3,743,526 SH | Aug. 8, 2026 | Daily |
| EFAV · iShares Trust | 0.38% | 5,926,444 SH | Aug. 8, 2026 | Daily |
| INTF · iShares Trust | 0.27% | 2,890,393 SH | Aug. 8, 2026 | Daily |
| PSWD · DBX ETF Trust | 0.27% | 5,015 NS | May 29, 2026 | N-PORT |
| IDMO · Invesco Exchange-Traded Fund Trust … | 0.16% | 1,995,138 SH | Aug. 8, 2026 | Daily |
| IQLT · iShares Trust | 0.14% | 5,746,054 SH | Aug. 8, 2026 | Daily |
| IPAC · iShares Trust | 0.14% | 1,106,113 SH | Aug. 8, 2026 | Daily |
| KNCT · Invesco Exchange-Traded Fund Trust | 0.13% | 59,668 SH | Aug. 8, 2026 | Daily |
| EFG · iShares Trust | 0.12% | 6,058,890 SH | Aug. 8, 2026 | Daily |
| VPL · VANGUARD INTERNATIONAL EQUITY INDEX… | 0.11% | 4,243,093 SH | Aug. 8, 2026 | Daily |
| IMFL · Invesco Exchange-Traded Self-Indexe… | 0.10% | 311,546 SH | Aug. 8, 2026 | Daily |
| IMTM · iShares Trust | 0.08% | 1,004,633 SH | Aug. 8, 2026 | Daily |
| VYMI · VANGUARD WHITEHALL FUNDS | 0.08% | 4,501,805 SH | Aug. 8, 2026 | Daily |
| EFA · iShares Trust | 0.06% | 13,861,880 SH | Aug. 8, 2026 | Daily |
| OMFS · Invesco Exchange-Traded Self-Indexe… | 0.06% | 35,499 SH | Aug. 8, 2026 | Daily |
| IWC · iShares Trust | 0.06% | 191,540 SH | Aug. 8, 2026 | Daily |
| CRBN · iShares Trust | 0.05% | 182,330 SH | Aug. 8, 2026 | Daily |
| IEFA · iShares Trust | 0.05% | 30,091,475 SH | Aug. 8, 2026 | Daily |
| PXF · Invesco Exchange-Traded Fund Trust … | 0.05% | 398,032 SH | Aug. 8, 2026 | Daily |
| IDEV · iShares Trust | 0.05% | 4,319,557 SH | Aug. 8, 2026 | Daily |
| VEA · VANGUARD TAX-MANAGED FUNDS | 0.04% | 38,309,780 SH | Aug. 8, 2026 | Daily |
| SHLD · Global X Funds | 0.04% | 667,038 NS | May 31, 2026 | N-PORT |
| VSGX · VANGUARD WORLD FUND | 0.04% | 796,071 SH | Aug. 8, 2026 | Daily |
| ACWX · iShares Trust | 0.04% | 1,242,505 SH | Aug. 8, 2026 | Daily |
| IXUS · iShares Trust | 0.03% | 5,491,992 SH | Aug. 8, 2026 | Daily |
| VXUS · VANGUARD STAR FUNDS | 0.03% | 57,865,066 SH | Aug. 8, 2026 | Daily |
| VEU · VANGUARD INTERNATIONAL EQUITY INDEX… | 0.03% | 9,172,155 SH | Aug. 8, 2026 | Daily |
| VTWG · VANGUARD SCOTTSDALE FUNDS | 0.02% | 60,343 SH | Aug. 8, 2026 | Daily |
| AVSC · AMERICAN CENTURY ETF TRUST | 0.02% | 101,848 NS | May 31, 2026 | N-PORT |
| TOK · iShares Trust | 0.02% | 12,387 SH | Aug. 8, 2026 | Daily |
| GLOF · iShares Trust | 0.02% | 10,152 SH | Aug. 8, 2026 | Daily |
| IWO · iShares Trust | 0.02% | 512,868 SH | Aug. 8, 2026 | Daily |
| URTH · iShares, Inc. | 0.02% | 371,882 SH | Aug. 8, 2026 | Daily |
| PRFZ · Invesco Exchange-Traded Fund Trust | 0.01% | 85,517 SH | Aug. 8, 2026 | Daily |
| ACWI · iShares Trust | 0.01% | 1,291,824 SH | Aug. 8, 2026 | Daily |
| VT · VANGUARD INTERNATIONAL EQUITY INDEX… | 0.01% | 3,028,220 SH | Aug. 8, 2026 | Daily |
| VTWO · VANGUARD SCOTTSDALE FUNDS | 0.01% | 322,208 SH | Aug. 8, 2026 | Daily |
| IWM · iShares Trust | 0.01% | 1,470,158 SH | Aug. 8, 2026 | Daily |
| DFAS · Dimensional ETF Trust | 0.01% | 256,542 NS | April 30, 2026 | N-PORT |
| RSSL · Global X Funds | 0.01% | 22,108 NS | April 30, 2026 | N-PORT |
| ITWO · ProShares Trust | 0.01% | 2,403 NS | May 31, 2026 | N-PORT |
| SCHA · SCHWAB STRATEGIC TRUST | 0.01% | 254,288 NS | May 31, 2026 | N-PORT |
| UWM · ProShares Trust | 0.00% | 1,879 NS | May 31, 2026 | N-PORT |
| URTY · ProShares Trust | 0.00% | 1,903 NS | May 31, 2026 | N-PORT |
| DFSU · Dimensional ETF Trust | 0.00% | 7,829 NS | April 30, 2026 | N-PORT |
| DFAC · Dimensional ETF Trust | 0.00% | 134,419 NS | April 30, 2026 | N-PORT |