TOST Toast, Inc. Class A Common Stock
$36.98
Price · Aug 24, 2026
Fundamentals as of Aug 5, 2026
52W Range
$22–$46
63% of range
Analyst Rating
BUY
38 analysts
Price Target
$39
+4% upside
P/E (TTM)
65.0
ROE
17.3%
Net Profit Margin
5.6%
About Toast, Inc. Class A Common Stock Company overview from Wikipedia
Toast, Inc. is an American cloud-based restaurant management software company based in Boston, Massachusetts. The company provides an all-in-one point of sale (POS) system built on the Android operating system.
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Toast, Inc. is an American cloud-based restaurant management software company based in Boston, Massachusetts. The company provides an all-in-one point of sale (POS) system built on the Android operating system.
History
Toast's founders—Steve Fredette, Aman Narang, and Jonathan Grimm—initially created a consumer app centered for mobile payments, customer loyalty, promotions, and social aspects that integrated with restaurants’ existing POS systems.
In February 2020, Toast received $400 million in a round of Series F funding including Bessemer Venture Partners and TPG, at a valuation of $4.9 billion. As of June 2024, Toast is used in approximately 120,000 US restaurants.
In April 2020, Toast laid off 50% of its workforce due to the COVID-19 pandemic and its economic impact on the restaurant industry.
In November 2020, Toast had a secondary sale that valued the company at around $8 billion, despite laying off half of its employees in April. On September 22, 2021, Toast went public with an initial public offering under the stock symbol TOST. The company offered shares at $40 initially, with a market capitalization of roughly $20 billion, making it one of 2021's largest American IPOs.
In February 2023, it was announced that Toast had acquired Delphi Display Systems, a Costa Mesa-headquartered producer of digital display solutions and drive-thru technology for fast-food restaurants.
Toast headquarters were located at Landmark Center from 2015 until June 2023. The company moved into its new headquarters on Summer Street in the Seaport District in early 2024.
Products
First launched in 2012, Toast's restaurant management system operates on the Android operating system and includes four devices: Flex (a terminal available in single-screen, guest-facing and kitchen displays), Tap (a three-in-one payment processing device that supports contactless payments), Toast Hub, and receipt printer.
The company started supporting reservations in April 2023, entering into competition with OpenTable and Resy.
Recognition
In May 2016, the New England Venture Capital Association (NEVCA) named Toast the winner of the Hottest Startup: A+ at the 2016 NEVY awards.
Source: Wikipedia, CC BY-SA 4.0 · View on Wikipedia ↗
TOST Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$36.98
Market Cap
$21.45B
P/E (TTM)
65.0
EPS (TTM)
$0.56
Revenue (TTM)
$6.15B
Div Yield
—
ROE
17.3%
Debt/Equity
—
52W Range
$22 – $46
TOST 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
$6.15B
2019-12-31
→
2025-12-31
EPS
$0.56
2019-12-31
→
2025-12-31
Free Cash Flow
$608M
2021-12-31
→
2025-12-31
Margins
5.6%
2021-12-31
→
2025-12-31
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Metric
5Y trend
TOST
Peer Median
P/E (TTM)
65.0
34.8
P/S (TTM)
3.5
3.7
P/B
10.1
6.4
Price / FCF
35.3
—
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Metric
5Y trend
TOST
Peer Median
Gross Margin
25.9%
67.2%
Operating Margin
4.8%
—
Net Profit Margin
5.6%
9.3%
ROA
12.3%
7.8%
ROE
17.3%
21.1%
ROIC
13.6%
—
Financial Health Debt, liquidity, solvency — balance sheet strength
Metric
5Y trend
TOST
Peer Median
Current Ratio
2.8
2.1
Quick Ratio
1.5
—
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Metric
5Y trend
TOST
Peer Median
Revenue YoY
24.1%
—
Revenue CAGR 3Y
31.1%
—
Revenue CAGR 5Y
49.5%
—
EPS YoY
1766.7%
—
Net Income YoY
1700.0%
—
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
Metric
5Y trend
TOST
Peer Median
TOST Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
BUY
38 analysts
- Strong Buy 7 18.4%
- Buy 19 50.0%
- Hold 12 31.6%
- Sell 0 0.0%
- Strong Sell 0 0.0%
12-Month Price Target
26 analysts · 2026-08-20
Median
$39.00
Now
$36.98
Low
$25.00
High
$45.00
Median target
$39.00
+5.5%
Mean target
$38.62
+4.4%
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
0.03%
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| June 30, 2026 | $0.26 | $0.21 | 0.05% |
| March 31, 2026 | $0.20 | $0.16 | 0.04% |
| Dec. 31, 2025 | $0.16 | $0.13 | 0.03% |
| Sept. 30, 2025 | $0.16 | $0.13 | 0.03% |
| June 30, 2025 | $0.13 | $0.13 | 0.00% |
| March 31, 2025 | $0.09 | $0.09 | 0.00% |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| TOST | $20.92B | 63.4 | 24.1% | 5.6% | 17.3% | 25.9% |
| FISV | $52.66B | 10.6 | 3.6% | 16.4% | 13.2% | — |
| CPAY | $20.57B | 20.0 | 13.9% | 23.6% | 30.5% | — |
| AFRM | $22.48B | 460.9 | 38.8% | 1.6% | 1.8% | — |
| GPN | $18.32B | 13.4 | -0.39% | 18.2% | 6.2% | — |
| FIS | $42.27B | 91.0 | 5.4% | 3.6% | 2.6% | 36.9% |
| CHYM | $0 | -5.9 | 30.7% | -46.2% | -71.4% | 88.0% |
| JKHY | $18.81B | 28.9 | 7.2% | 19.2% | 22.2% | — |
| WEX | $5.11B | 17.6 | 1.2% | 11.4% | 27.5% | — |
| RELY | $2.91B | 44.5 | 29.4% | 4.2% | 8.3% | — |
| PAY | — | 60.8 | 37.2% | 5.6% | 12.4% | 24.8% |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement 18
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $6.15B | $4.96B | $3.87B | $2.73B | $1.71B | $823M | $665M | |
| Cost of Revenue | $4.56B | $3.77B | $3.03B | $2.22B | $1.39B | $683M | $603M | |
| Gross Profit | $1.59B | $1.19B | $834M | $511M | $314M | $140M | $62M | |
| R&D Expense | $374M | $351M | $358M | $282M | $163M | $109M | $64M | |
| SG&A Expense | $344M | $307M | $362M | $294M | $189M | $113M | $83M | |
| Operating Expenses | $1.30B | $1.17B | $1.12B | $895M | $542M | $360M | $275M | |
| Operating Income | $292M | $16M | $-287M | $-384M | $-228M | $-220M | $-213M | |
| Interest Expense | · | · | · | · | $12M | $13M | $0 | |
| Interest Income | · | · | · | · | $0 | $1M | $2M | |
| Other Non-op | $0 | $13M | $3M | $1M | $0 | $-1M | $0 | |
| Pretax Income | $346M | $22M | $-244M | $-277M | $-490M | $-248M | $-212M | |
| Income Tax | $4M | $3M | $2M | $-2M | $-3M | $0 | $-3M | |
| Net Income | $342M | $19M | $-246M | $-275M | $-487M | $-248M | $-209M | |
| EPS (Basic) | $0.59 | $0.03 | $-0.46 | $-0.54 | $-1.68 | $-1.25 | $-1.08 | |
| EPS (Diluted) | $0.56 | $0.03 | $-0.47 | $-0.72 | $-1.68 | $-1.25 | $-1.08 | |
| Shares (Basic) | 582,000,000 | 559,000,000 | 532,000,000 | 512,000,000 | 290,000,000 | 199,982,965 | 194,820,145 | |
| Shares (Diluted) | 607,000,000 | 591,000,000 | 533,000,000 | 512,000,000 | 290,000,000 | 199,982,965 | 194,820,145 | |
| EBITDA | $356M | $62M | $-255M | $-360M | $-207M | · | · |
Balance Sheet 28
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $1.35B | $903M | $605M | $547M | $809M | $582M | $150M | |
| Receivables | $127M | $115M | $69M | $77M | $55M | $33M | · | |
| Inventory | $114M | $118M | $118M | $110M | $42M | $19M | · | |
| Prepaid Expense | $39M | $29M | $24M | $27M | $92M | $22M | · | |
| Other Current Assets | $437M | $325M | $259M | $199M | $12M | $292.0K | · | |
| Current Assets | $2.67B | $1.98B | $1.57B | $1.41B | $1.49B | $673M | · | |
| PP&E (Net) | $132M | $98M | $75M | $61M | $41M | $44M | · | |
| PP&E (Gross) | $256M | $198M | $136M | $109M | $72M | $59M | · | |
| Accum. Depreciation | $151M | $100M | $61M | $48M | $31M | $15M | · | |
| Goodwill | $113M | $113M | $113M | $107M | $74M | $36M | $36M | |
| Intangibles | $14M | $20M | $26M | $29M | $16M | $7M | · | |
| Other Non-current Assets | $146M | $118M | $83M | $52M | $7M | $1M | · | |
| Total Assets | $3.15B | $2.41B | $1.96B | $1.76B | $1.74B | $776M | · | |
| Accounts Payable | $47M | $37M | $32M | $30M | $40M | $30M | · | |
| Accrued Liabilities | $74M | $69M | $68M | $45M | $21M | $8M | · | |
| Current Liabilities | $969M | $811M | $663M | $496M | $352M | $136M | · | |
| Capital Leases | $20M | $24M | $33M | $80M | $77M | · | · | |
| Other Non-current Liabilities | $52M | $6M | $4M | $19M | $22M | $7M | · | |
| Total Liabilities | $1.02B | $863M | $764M | $663M | $644M | $398M | · | |
| Total Debt | · | · | · | · | $0 | · | · | |
| Common Stock | $0 | $0 | $0 | $0 | $0 | $0 | · | |
| Paid-in Capital | $3.38B | $3.15B | $2.82B | $2.48B | $2.19B | $145M | · | |
| Retained Earnings | $-1.26B | $-1.60B | $-1.62B | $-1.38B | $-1.10B | $-616M | · | |
| Treasury Stock | · | · | $0 | $0 | $0 | $0 | · | |
| AOCI | $2M | $-1M | $0 | $-2M | $-1M | $0 | · | |
| Stockholders' Equity | $2.12B | $1.54B | $1.19B | $1.10B | $1.09B | $-471M | $-330M | |
| Liabilities + Equity | $3.15B | $2.41B | $1.96B | $1.76B | $1.74B | $776M | · | |
| Shares Outstanding | 589,000,000 | 572,000,000 | 543,000,000 | 523,000,000 | 507,000,000 | 220,000,000 | · |
Cash Flow 15
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| D&A | $64M | $46M | $32M | $24M | $21M | $27M | $7M | |
| Stock-based Comp | $242M | $253M | $277M | $228M | $140M | $86M | $34M | |
| Deferred Tax | $0 | $0 | $-1M | $-5M | $-3M | $0 | $-3M | |
| Amort. of Intangibles | · | · | · | $5M | $4M | $4M | · | |
| Other Non-cash | $13M | $42M | $73M | $-128M | $331M | · | · | |
| Operating Cash Flow | $661M | $360M | $135M | $-156M | $2M | $-125M | $-126M | |
| CapEx | $53M | $54M | $42M | $33M | $19M | $28M | $9M | |
| Investing Cash Flow | $-172M | $-39M | $-86M | $-98M | $-503M | $-36M | $-47M | |
| Stock Issued | $81M | $99M | $36M | $15M | $34M | · | · | |
| Stock Repurchased | $107M | $56M | $0 | $0 | · | · | · | |
| Net Stock Activity | $-26M | $43M | $36M | · | · | · | · | |
| Financing Cash Flow | $7M | $18M | $63M | $38M | $759M | $594M | $256M | |
| Net Change in Cash | $498M | $338M | $112M | $-216M | · | · | · | |
| Free Cash Flow | $608M | $306M | $93M | $-172M | $-10M | · | · | |
| Levered FCF | · | · | · | · | $-22M | · | · |
Profitability 8
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 25.9% | 24.0% | 21.6% | 18.7% | 18.4% | · | · | |
| Operating Margin | 4.8% | 0.32% | -7.4% | -14.1% | -13.4% | · | · | |
| Net Margin | 5.6% | 0.38% | -6.4% | -10.1% | -28.6% | · | · | |
| Pretax Margin | 5.6% | 0.44% | -6.3% | -10.1% | -28.7% | · | · | |
| EBITDA Margin | 5.8% | 1.2% | -6.6% | -13.2% | -12.1% | · | · | |
| ROA | 12.3% | 0.87% | -13.2% | -15.7% | -38.8% | · | · | |
| ROE | 17.3% | 1.3% | -21.0% | -24.8% | -46.4% | · | · | |
| ROIC | 13.6% | 0.89% | -24.2% | -34.7% | -20.8% | · | · |
Liquidity & Solvency 5
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.8 | 2.4 | 2.4 | 2.8 | 4.2 | · | · | |
| Quick Ratio | 1.5 | 1.3 | 1.0 | 1.3 | 2.5 | · | · | |
| Debt / Equity | · | · | · | · | 0.0 | · | · | |
| LT Debt / Equity | · | · | · | · | 0.0 | · | · | |
| Interest Coverage | · | · | · | · | -19.0 | · | · |
Efficiency 3
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 2.2 | 2.3 | 2.1 | 1.6 | 1.4 | · | · | |
| Inventory Turnover | 39.3 | 31.9 | 26.6 | 29.2 | 45.6 | · | · | |
| Receivables Turnover | 50.9 | 53.9 | 52.9 | 41.4 | 38.8 | · | · |
Growth Rates 5
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Revenue YoY | 24.1% | 28.3% | 41.5% | 60.2% | 107.2% | · | · | |
| Revenue CAGR 3Y | 31.1% | 42.8% | 67.5% | · | · | · | · | |
| Revenue CAGR 5Y | 49.5% | · | · | · | · | · | · | |
| EPS YoY | 1766.7% | · | · | · | · | · | · | |
| Net Income YoY | 1700.0% | · | · | · | · | · | · |
Valuation (TTM) 14
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $6.15B | $4.96B | $3.87B | $2.73B | $1.71B | · | · | |
| Net Income TTM | $342M | $19M | $-246M | $-275M | $-487M | · | · | |
| Market Cap | $20.92B | $20.85B | $9.92B | · | $0 | · | · | |
| Enterprise Value | · | · | · | · | $-809M | · | · | |
| P/E | 63.4 | 1215.0 | -38.9 | -25.0 | -20.7 | · | · | |
| P/S | 3.4 | 4.2 | 2.6 | · | 0.0 | · | · | |
| P/B | 9.8 | 13.5 | 8.3 | · | · | · | · | |
| P / Tangible Book | 10.5 | 14.8 | 9.4 | · | 0.0 | · | · | |
| P / Cash Flow | 31.6 | 57.9 | 73.4 | · | 0.0 | · | · | |
| P / FCF | 34.4 | 68.1 | 106.6 | · | 0.0 | · | · | |
| EV / EBITDA | · | · | · | · | 3.9 | · | · | |
| EV / FCF | · | · | · | · | 80.9 | · | · | |
| EV / Revenue | · | · | · | · | -0.5 | · | · | |
| Earnings Yield | 1.6% | 0.08% | -2.6% | -4.0% | -4.8% | · | · |
Income Statement 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.91B | $1.63B | $1.63B | $1.63B | $1.55B | $1.34B | $1.34B | $1.30B | $1.24B | $1.07B | $1.04B | $1.03B | $978M | $819M | $769M | $752M | |
| Cost of Revenue | $1.39B | $1.18B | $1.21B | $1.20B | $1.16B | $991M | $1.00B | $983M | $956M | $826M | $810M | $806M | $770M | $645M | $611M | $601M | |
| Gross Profit | $516M | $447M | $423M | $432M | $392M | $346M | $333M | $322M | $286M | $249M | $226M | $226M | $208M | $174M | $158M | $151M | |
| R&D Expense | $109M | $97M | $97M | $102M | $91M | $84M | $92M | $89M | $87M | $83M | $94M | $87M | $92M | $85M | $79M | $74M | |
| SG&A Expense | $89M | $84M | $84M | $102M | $79M | $79M | $78M | $80M | $75M | $74M | $86M | $98M | $96M | $82M | $91M | $78M | |
| Operating Expenses | $364M | $337M | $338M | $348M | $312M | $303M | $300M | $288M | $281M | $305M | $282M | $285M | $288M | $266M | $257M | $236M | |
| Operating Income | $152M | $110M | $85M | $84M | $80M | $43M | $33M | $34M | $5M | $-56M | $-56M | $-59M | $-80M | $-92M | $-99M | $-85M | |
| Other Non-op | · | · | $0 | $0 | $0 | · | $0 | $15M | $0 | · | $3M | $0 | $0 | $0 | $1M | $1M | |
| Pretax Income | $162M | $131M | $101M | $104M | $83M | $58M | $33M | $57M | $14M | $-82M | $-35M | $-31M | $-97M | $-81M | $-98M | $-102M | |
| Income Tax | $8M | $5M | $0 | $-1M | $3M | $2M | $1M | $1M | $0 | $1M | $1M | $0 | $1M | $0 | $2M | $-4M | |
| Net Income | $154M | $126M | $101M | $105M | $80M | $56M | $32M | $56M | $14M | $-83M | $-36M | $-31M | $-98M | $-81M | $-100M | $-98M | |
| EPS (Basic) | $0.27 | $0.21 | $0.17 | $0.18 | $0.14 | $0.10 | $0.05 | $0.10 | $0.03 | $-0.15 | $-0.06 | $-0.06 | $-0.19 | $-0.15 | $-0.19 | $-0.19 | |
| EPS (Diluted) | $0.26 | $0.20 | $0.18 | $0.16 | $0.13 | $0.09 | $0.09 | $0.07 | $0.02 | $-0.15 | $-0.03 | $-0.09 | $-0.19 | $-0.16 | $-0.22 | $-0.19 | |
| Shares (Basic) | 578,000,000 | 587,000,000 | -1,158,000,000 | 585,000,000 | 580,000,000 | 575,000,000 | -1,107,000,000 | 563,000,000 | 556,000,000 | 547,000,000 | -1,056,000,000 | 535,000,000 | 529,000,000 | 524,000,000 | -1,016,630,480 | 513,719,867 | |
| Shares (Diluted) | 590,000,000 | 602,000,000 | -1,210,000,000 | 609,000,000 | 605,000,000 | 603,000,000 | -1,133,000,000 | 590,000,000 | 587,000,000 | 547,000,000 | -1,057,000,000 | 536,000,000 | 529,000,000 | 525,000,000 | -1,018,289,531 | 513,719,867 | |
| EBITDA | $152M | $120M | · | $84M | $80M | $62M | · | $34M | $5M | $-45M | · | $-59M | $-80M | $-86M | · | $-85M |
Balance Sheet 27
| 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 | $1.01B | $1.10B | $1.35B | $1.36B | $1.19B | $1.00B | $903M | $761M | $691M | $578M | $605M | $514M | $488M | $451M | $547M | $644M | |
| Receivables | $142M | $138M | $127M | $121M | $121M | $118M | $115M | $105M | $101M | $86M | · | $95M | $115M | $97M | · | $78M | |
| Inventory | $217M | $136M | $114M | $104M | $103M | $111M | $118M | $106M | $110M | $120M | · | $98M | $107M | $112M | · | $95M | |
| Prepaid Expense | $49M | $52M | $39M | $35M | $37M | $42M | $29M | $31M | $33M | $33M | · | $201M | $191M | $202M | · | $136M | |
| Other Current Assets | $578M | $548M | $437M | $413M | $391M | $404M | $325M | $319M | $309M | $330M | · | $82M | $63M | $56M | · | $34M | |
| Current Assets | $2.65B | $2.59B | $2.67B | $2.50B | $2.32B | $2.12B | $1.98B | $1.80B | $1.74B | $1.65B | · | $1.48B | $1.46B | $1.41B | · | $1.40B | |
| PP&E (Net) | $149M | $114M | $105M | $100M | $96M | $93M | $98M | $95M | $90M | $82M | · | $69M | $61M | $70M | · | $54M | |
| PP&E (Gross) | · | · | $256M | · | · | · | $198M | · | · | · | · | · | · | · | · | · | |
| Accum. Depreciation | · | · | $151M | · | · | · | $100M | · | · | · | · | · | · | · | · | · | |
| Goodwill | $113M | $113M | $113M | $113M | $113M | $113M | $113M | $113M | $113M | $113M | $113M | $113M | $113M | $113M | $107M | $107M | |
| Intangibles | $11M | $13M | $14M | $16M | $17M | $19M | $20M | $22M | $23M | $25M | · | $28M | $30M | $31M | · | $31M | |
| Other Non-current Assets | $185M | $164M | $146M | $148M | $139M | $127M | $118M | $108M | $99M | $90M | · | $13M | $16M | $18M | · | $37M | |
| Total Assets | $3.18B | $3.09B | $3.15B | $2.97B | $2.77B | $2.56B | $2.41B | $2.23B | $2.15B | $2.05B | · | $1.83B | $1.79B | $1.79B | · | $1.74B | |
| Accounts Payable | $40M | $70M | $47M | $50M | $49M | $48M | $37M | $30M | $33M | $49M | · | $27M | $42M | $36M | · | $28M | |
| Accrued Liabilities | $98M | $82M | $74M | $77M | $71M | $70M | $69M | $72M | $71M | $74M | · | $54M | $48M | $41M | · | $57M | |
| Current Liabilities | $1.10B | $1.06B | $969M | $911M | $894M | $844M | $811M | $748M | $736M | $713M | · | $574M | $584M | $538M | · | $457M | |
| Capital Leases | · | $17M | $20M | $18M | $19M | $22M | $24M | $27M | $29M | $30M | · | $22M | $25M | $77M | · | $81M | |
| Other Non-current Liabilities | $32M | $12M | $13M | $8M | $9M | $6M | $6M | $5M | $6M | $6M | · | $3M | $5M | $11M | · | $15M | |
| Total Liabilities | $1.14B | $1.10B | $1.02B | $957M | $949M | $891M | $863M | $807M | $872M | $849M | · | $685M | $716M | $697M | · | $622M | |
| Common Stock | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | · | · | · | · | · | · | |
| Paid-in Capital | $3.03B | $3.13B | $3.38B | $3.37B | $3.28B | $3.22B | $3.15B | $3.05B | $2.98B | $2.91B | · | $2.74B | $2.64B | $2.56B | · | $2.40B | |
| Retained Earnings | $-982M | $-1.14B | $-1.26B | $-1.36B | $-1.47B | $-1.55B | $-1.60B | $-1.64B | $-1.69B | $-1.71B | · | $-1.59B | $-1.56B | $-1.46B | · | $-1.28B | |
| Treasury Stock | · | · | · | · | · | · | · | · | · | · | · | $0 | $0 | $0 | · | $0 | |
| AOCI | $-2M | $-1M | $2M | $3M | $2M | $0 | $-1M | $3M | $-1M | $-1M | · | $-2M | $-2M | $0 | · | $-4M | |
| Stockholders' Equity | $2.04B | $1.99B | $2.12B | $2.01B | $1.82B | $1.67B | $1.54B | $1.42B | $1.28B | $1.20B | $1.19B | $1.15B | $1.08B | $1.10B | $1.10B | $1.12B | |
| Liabilities + Equity | $3.18B | $3.09B | $3.15B | $2.97B | $2.77B | $2.56B | $2.41B | $2.23B | $2.15B | $2.05B | · | $1.83B | $1.79B | $1.79B | · | $1.74B | |
| Shares Outstanding | 577,000,000 | 580,000,000 | 589,000,000 | 587,000,000 | 581,000,000 | 577,000,000 | 572,000,000 | 565,000,000 | 560,000,000 | 552,000,000 | 543,000,000 | 538,555,440 | 532,936,724 | 528,568,895 | 523,000,000 | 518,755,539 |
Cash Flow 12
| 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 | $12M | $10M | $16M | $13M | $16M | $19M | $11M | $12M | $12M | $11M | $10M | $8M | $8M | $6M | $6M | $6M | |
| Stock-based Comp | $55M | $54M | $56M | $66M | $60M | $60M | $60M | $60M | $67M | $66M | $71M | $71M | $72M | $63M | $61M | $57M | |
| Other Non-cash | · | $-58M | · | · | · | $-56M | · | · | · | $-14M | · | · | · | $-43M | · | · | |
| Operating Cash Flow | $144M | $132M | $194M | $165M | $223M | $79M | $147M | $109M | $124M | $-20M | $92M | $48M | $50M | $-55M | $-19M | $-69M | |
| CapEx | $14M | $17M | $16M | $12M | $15M | $10M | $13M | $12M | $16M | $13M | $11M | $27M | $19M | $10M | $20M | $6M | |
| Investing Cash Flow | $-67M | $-75M | $-152M | $-4M | $-38M | $22M | $-15M | $9M | $-4M | $-29M | $-1M | $-31M | $-12M | $-42M | $-73M | $17M | |
| Stock Issued | $3M | $14M | $3M | $38M | $14M | $26M | $15M | $29M | $27M | $28M | $5M | $16M | $4M | $11M | $3M | $5M | |
| Stock Repurchased | $163M | $323M | $53M | $23M | $14M | $17M | $0 | $20M | $32M | $4M | $0 | $0 | $0 | $0 | · | · | |
| Net Stock Activity | · | $-309M | · | · | · | $9M | · | · | · | $24M | · | · | · | · | · | · | |
| Financing Cash Flow | $-185M | $-227M | $-63M | $19M | $-22M | $73M | $11M | $-40M | $-26M | $73M | $5M | $12M | $-2M | $48M | $2M | $-6M | |
| Net Change in Cash | $-109M | $-170M | $-22M | $180M | $166M | $174M | $141M | $80M | · | · | · | · | · | · | · | · | |
| Free Cash Flow | · | $115M | · | · | · | $69M | · | · | · | $-33M | · | · | · | $-57M | · | · |
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 | 27.0% | 27.4% | · | 26.5% | 25.3% | 25.9% | · | 24.7% | 23.0% | 23.2% | · | 21.9% | 21.3% | 21.2% | · | 20.1% | |
| Operating Margin | 8.0% | 6.8% | · | 5.1% | 5.2% | 3.2% | · | 2.6% | 0.40% | -5.2% | · | -5.7% | -8.2% | -11.2% | · | -11.3% | |
| Net Margin | 8.1% | 7.7% | · | 6.4% | 5.2% | 4.2% | · | 4.3% | 1.1% | -7.7% | · | -3.0% | -10.0% | -9.9% | · | -13.0% | |
| Pretax Margin | 8.5% | 8.0% | · | 6.4% | 5.3% | 4.3% | · | 4.4% | 1.1% | -7.6% | · | -3.0% | -9.9% | -9.9% | · | -13.6% | |
| EBITDA Margin | 8.0% | 7.4% | · | 5.1% | 5.2% | 4.6% | · | 2.6% | 0.40% | -4.2% | · | -5.7% | -8.2% | -10.5% | · | -11.3% | |
| ROA | 5.2% | 4.5% | · | 4.0% | 3.2% | 2.4% | · | 2.8% | 0.71% | -4.3% | · | -1.7% | -5.5% | -4.6% | · | -5.8% | |
| ROE | 8.0% | 6.9% | · | 6.1% | 5.2% | 3.9% | · | 4.4% | 1.2% | -7.2% | · | -2.7% | -8.8% | -7.2% | · | -9.2% | |
| ROIC | 7.1% | 5.3% | · | 4.2% | 4.2% | 2.5% | · | 2.4% | 0.39% | -4.7% | · | -5.1% | -7.5% | -8.4% | · | -7.3% |
Liquidity & Solvency 2
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.4 | 2.4 | · | 2.7 | 2.6 | 2.5 | · | 2.4 | 2.4 | 2.3 | · | 2.6 | 2.5 | 2.6 | · | 3.1 | |
| Quick Ratio | 1.0 | 1.2 | · | 1.6 | 1.5 | 1.3 | · | 1.2 | 1.1 | 0.9 | · | 1.1 | 1.0 | 1.0 | · | 1.6 |
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 | 0.6 | 0.6 | · | 0.6 | 0.6 | 0.6 | · | 0.6 | 0.6 | 0.6 | · | 0.6 | 0.6 | 0.5 | · | 0.4 | |
| Inventory Turnover | 8.7 | 9.6 | · | 11.4 | 10.9 | 8.6 | · | 9.6 | 8.8 | 7.1 | · | 8.4 | 9.1 | 8.3 | · | 9.0 | |
| Receivables Turnover | 14.5 | 12.7 | · | 14.5 | 14.0 | 13.1 | · | 13.1 | 11.5 | 11.7 | · | 11.9 | 10.7 | 10.7 | · | 11.5 |
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 | $6.72B | $6.15B | · | $5.83B | $5.43B | $4.96B | · | $4.65B | $4.33B | $3.90B | · | $3.58B | $3.22B | $2.78B | · | $2.45B | |
| Net Income TTM | $465M | $367M | · | $297M | $206M | $43M | · | $-44M | $-198M | $-293M | · | $-308M | $-331M | $-256M | · | $-429M | |
| Market Cap | $16.05B | $15.38B | · | $21.43B | $25.73B | $19.14B | · | $16.00B | $14.43B | $13.76B | · | $10.09B | $12.03B | $9.38B | · | $8.67B | |
| P/E | 37.1 | 45.7 | · | 81.1 | 142.9 | 1105.7 | · | -188.7 | -62.9 | -42.2 | · | -29.7 | -34.7 | -26.9 | · | -10.7 | |
| P/S | 2.4 | 2.5 | · | 3.7 | 4.7 | 3.9 | · | 3.4 | 3.3 | 3.5 | · | 2.8 | 3.7 | 3.4 | · | 3.5 | |
| P/B | 7.8 | 7.7 | · | 10.6 | 14.2 | 11.4 | · | 11.3 | 11.2 | 11.4 | · | 8.8 | 11.1 | 8.5 | · | 7.8 | |
| P / Tangible Book | 8.4 | 8.2 | · | 11.4 | 15.2 | 12.4 | · | 12.4 | 12.6 | 12.9 | · | 10.0 | 12.9 | 9.8 | · | 8.8 | |
| P / Cash Flow | · | 116.5 | · | · | · | 242.3 | · | · | · | -687.8 | · | · | · | -170.6 | · | · | |
| P / FCF | · | 133.7 | · | · | · | 277.4 | · | · | · | -416.8 | · | · | · | -164.6 | · | · | |
| Earnings Yield | 2.7% | 2.2% | · | 1.2% | 0.70% | 0.09% | · | -0.53% | -1.6% | -2.4% | · | -3.4% | -2.9% | -3.7% | · | -9.3% |
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 | $6.15B | $4.96B | $3.87B | $2.73B | $1.71B |
| Gross Margin % | 25.9% | 24.0% | 21.6% | 18.7% | 18.4% |
| Operating Margin % | 4.8% | 0.32% | -7.4% | -14.1% | -13.4% |
| Net Income | $342M | $19M | $-246M | $-275M | $-487M |
| Diluted EPS | $0.56 | $0.03 | $-0.47 | $-0.72 | $-1.68 |
Balance Sheet
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Debt / Equity | — | — | — | — | 0.0 |
| Current Ratio | 2.8 | 2.4 | 2.4 | 2.8 | 4.2 |
| Quick Ratio | 1.5 | 1.3 | 1.0 | 1.3 | 2.5 |
Cash Flow
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Free Cash Flow | $608M | $306M | $93M | $-172M | $-10M |
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Institutional owners (13F) 853 filers · $9.9B 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 |
|---|---|---|---|---|
| 129 (+2 vs prior Q) | 106 (-22 vs prior Q) | 302 (+2 vs prior Q) | 244 (+3 vs prior Q) | +30.1M |
Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.
| Institution | Value | Shares | % of tracked 13F | Type |
|---|---|---|---|---|
| Capital International Investors | $744,037,248 | 26,744,340 | 7.51% | Shares |
| FMR LLC | $705,500,455 | 25,359,470 | 7.12% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $614,405,006 | 22,085,011 | 6.20% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $609,411,566 | 21,905,520 | 6.15% | Shares |
| STATE STREET CORP | $469,844,135 | 16,888,718 | 4.74% | Shares |
| PRINCIPAL FINANCIAL GROUP INC | $402,598,186 | 14,471,538 | 4.07% | Shares |
| ValueAct Holdings, L.P. | $393,208,937 | 14,134,038 | 3.97% | Shares |
| ALLIANCEBERNSTEIN L.P. | $288,837,505 | 10,895,417 | 2.92% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $239,858,637 | 7,957,545 | 2.42% | Shares |
| Balyasny Asset Management L.P. | $198,272,445 | 7,126,975 | 2.00% | Shares |
| Sumitomo Mitsui Trust Group, Inc. | $190,890,992 | 6,861,646 | 1.93% | Shares |
| CITADEL ADVISORS LLC | $187,640,725 | 6,744,814 | 1.89% | Shares |
| NORGES BANK | $160,383,969 | 5,765,060 | 1.62% | Shares |
| JANE STREET GROUP, LLC | $123,415,084 | 4,436,200 | 1.25% | Call option |
| XN LP | $122,106,431 | 4,389,160 | 1.23% | Shares |
| GOLDMAN SACHS GROUP INC | $120,816,696 | 4,342,800 | 1.22% | Put option |
| BNP PARIBAS ASSET MANAGEMENT Holding S.A. | $115,247,494 | 4,142,613 | 1.16% | Shares |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | $112,761,554 | 4,053,255 | 1.14% | Shares |
| GILDER GAGNON HOWE & CO LLC | $110,085,743 | 3,957,072 | 1.11% | Shares |
| Amova Asset Management Americas, Inc. | $104,857,920 | 3,769,156 | 1.06% | Shares |
| HMI Capital Management, L.P. | $97,501,978 | 3,504,744 | 0.98% | Shares |
| Meritage Group LP | $95,478,991 | 3,432,027 | 0.96% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $85,006,208 | 3,055,579 | 0.86% | Shares |
| BANK OF AMERICA CORP /DE/ | $84,348,321 | 3,031,931 | 0.85% | Shares |
| Lead Edge Capital Management, LLC | $84,050,229 | 3,021,216 | 0.85% | Shares |
| GOLDMAN SACHS GROUP INC | $80,945,517 | 2,909,616 | 0.82% | Shares |
| JENNISON ASSOCIATES LLC | $71,896,813 | 2,584,357 | 0.73% | Shares |
| JANE STREET GROUP, LLC | $69,552,782 | 2,500,100 | 0.70% | Put option |
| AMERICAN CENTURY COMPANIES INC | $69,507,908 | 2,498,487 | 0.70% | Shares |
| EVENTIDE ASSET MANAGEMENT, LLC | $69,417,420 | 2,494,706 | 0.70% | Shares |
| WELLINGTON MANAGEMENT GROUP LLP | $63,782,358 | 2,292,680 | 0.64% | Shares |
| Stephens Investment Management Group LLC | $60,375,854 | 2,170,232 | 0.61% | Shares |
| EDMOND DE ROTHSCHILD HOLDING S.A. | $58,765,772 | 2,112,357 | 0.59% | Shares |
| Junto Capital Management LP | $54,319,635 | 1,952,539 | 0.55% | Shares |
| RENAISSANCE TECHNOLOGIES LLC | $53,835,261 | 1,935,128 | 0.54% | Shares |
| ARK Investment Management LLC | $51,742,056 | 1,859,887 | 0.52% | Shares |
| BNP PARIBAS FINANCIAL MARKETS | $49,483,267 | 1,778,694 | 0.50% | Shares |
| KENSICO CAPITAL MANAGEMENT CORP | $46,175,636 | 1,659,800 | 0.47% | Shares |
| Park West Asset Management LLC | $45,680,718 | 1,642,010 | 0.46% | Shares |
| NZS Capital, LLC | $44,799,408 | 1,610,331 | 0.45% | Shares |
| WELLS FARGO & COMPANY/MN | $41,730,000 | 1,500,000 | 0.42% | Put option |
| Bridgewater Associates, LP | $39,754,085 | 1,428,975 | 0.40% | Shares |
| BLAIR WILLIAM & CO/IL | $39,113,564 | 1,405,951 | 0.40% | Shares |
| WESTFIELD CAPITAL MANAGEMENT CO LP | $38,203,008 | 1,373,221 | 0.39% | Shares |
| BARCLAYS PLC | $37,607,438 | 1,351,813 | 0.38% | Shares |
| Capital Impact Advisors, LLC | $37,232,563 | 1,338,338 | 0.38% | Shares |
| Swiss National Bank | $36,844,808 | 1,324,400 | 0.37% | Shares |
| Champlain Investment Partners, LLC | $36,554,757 | 1,313,974 | 0.37% | Shares |
| MARSHALL WACE, LLP | $35,669,998 | 1,282,171 | 0.36% | Shares |
| ZEVENBERGEN CAPITAL INVESTMENTS LLC | $35,580,417 | 1,278,951 | 0.36% | Shares |
| 12 West Capital Management LP | $34,714,909 | 1,247,840 | 0.35% | Shares |
| WELLS FARGO & COMPANY/MN | $33,384,000 | 1,200,000 | 0.34% | Call option |
| CONGRESS ASSET MANAGEMENT CO | $33,370,201 | 1,199,504 | 0.34% | Shares |
| FIRST TRUST ADVISORS LP | $32,904,100 | 1,182,752 | 0.33% | Shares |
| Walleye Trading LLC | $32,819,254 | 1,179,700 | 0.33% | Call option |
| LIGHT STREET CAPITAL MANAGEMENT, LLC | $32,479,850 | 1,167,500 | 0.33% | Shares |
| Philosophy Capital Management LLC | $31,993,000 | 1,150,000 | 0.32% | Shares |
| CITADEL ADVISORS LLC | $31,364,268 | 1,127,400 | 0.32% | Call option |
| Keenan Capital, LLC | $31,046,536 | 1,115,979 | 0.31% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $30,646,818 | 1,101,611 | 0.31% | Shares |
| VICTORY CAPITAL MANAGEMENT INC | $30,161,832 | 1,084,178 | 0.30% | Shares |
| Zurcher Kantonalbank (Zurich Cantonalbank) | $29,631,778 | 1,065,125 | 0.30% | Shares |
| ALKEON CAPITAL MANAGEMENT LLC | $28,809,780 | 1,035,578 | 0.29% | Shares |
| AQR CAPITAL MANAGEMENT LLC | $28,492,621 | 1,024,178 | 0.29% | Shares |
| RHUMBLINE ADVISERS | $27,978,731 | 1,005,708 | 0.28% | Shares |
| Assenagon Asset Management S.A. | $27,007,628 | 970,799 | 0.27% | Shares |
| Trexquant Investment LP | $26,616,451 | 956,738 | 0.27% | Shares |
| CAPITAL FUND MANAGEMENT S.A. | $26,403,906 | 949,098 | 0.27% | Shares |
| NORDEA INVESTMENT MANAGEMENT AB | $25,601,033 | 922,726 | 0.26% | Shares |
| SUSQUEHANNA FUNDAMENTAL INVESTMENTS, LLC | $24,478,707 | 879,896 | 0.25% | Shares |
| Longaeva Partners L.P. | $24,286,192 | 872,976 | 0.25% | Shares |
| Stony Point Capital LLC | $23,600,708 | 848,336 | 0.24% | Shares |
| ARMISTICE CAPITAL, LLC | $22,557,291 | 810,830 | 0.23% | Shares |
| Great Point Wealth Advisors, LLC | $22,440,892 | 806,646 | 0.23% | Shares |
| CANADA PENSION PLAN INVESTMENT BOARD | $21,126,508 | 759,400 | 0.21% | Shares |
| California Public Employees Retirement System | $20,100,785 | 722,530 | 0.20% | Shares |
| CITADEL ADVISORS LLC | $19,780,020 | 711,000 | 0.20% | Put option |
| ENVESTNET ASSET MANAGEMENT INC | $19,225,104 | 691,053 | 0.19% | Shares |
| Granahan Investment Management, LLC | $19,077,593 | 685,751 | 0.19% | Shares |
| PRIMECAP MANAGEMENT CO/CA/ | $18,759,026 | 674,300 | 0.19% | Shares |
| Apis Capital Advisors, LLC | $18,416,840 | 662,000 | 0.19% | Shares |
| Mitsubishi UFJ Asset Management Co., Ltd. | $18,177,171 | 653,385 | 0.18% | Shares |
| Delta Global Management LP | $17,762,430 | 638,477 | 0.18% | Shares |
| MILLENNIUM MANAGEMENT LLC | $17,543,125 | 630,594 | 0.18% | Shares |
| Nixon Capital, LLC | $17,324,210 | 622,725 | 0.17% | Shares |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM | $17,303,713 | 652,724 | 0.17% | Shares |
| RAYMOND JAMES FINANCIAL INC | $16,207,821 | 582,596 | 0.16% | Shares |
| BlackRock, Inc. | $15,489,258 | 556,767 | 0.16% | Shares |
| Distillate Capital Partners LLC | $15,193,615 | 546,140 | 0.15% | Shares |
| UBS Group AG | $15,027,140 | 540,156 | 0.15% | Shares |
| Robeco Institutional Asset Management B.V. | $14,669,599 | 527,304 | 0.15% | Shares |
| TEACHER RETIREMENT SYSTEM OF TEXAS | $14,635,295 | 526,071 | 0.15% | Shares |
| WOLVERINE TRADING, LLC | $14,361,884 | 386,800 | 0.15% | Call option |
| NEW YORK STATE COMMON RETIREMENT FUND | $13,538,297 | 486,639 | 0.14% | Shares |
| Retirement Systems of Alabama | $13,514,260 | 485,775 | 0.14% | Shares |
| Night Squared LP | $13,275,454 | 477,191 | 0.13% | Shares |
| KAYNE ANDERSON RUDNICK INVESTMENT MANAGEMENT LLC | $13,180,365 | 473,773 | 0.13% | Shares |
| BANK OF NOVA SCOTIA | $13,077,677 | 470,089 | 0.13% | Shares |
| STATE OF WISCONSIN INVESTMENT BOARD | $12,485,171 | 448,784 | 0.13% | Shares |
| 1832 Asset Management L.P. | $12,193,506 | 438,300 | 0.12% | Shares |
Company insiders 18 insiders · 6 officers · 10 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Christopher P Comparato | Chief Executive Officer | May 3, 2022 S | 314,557 | 0 | 0 | $0 |
| Stephen Fredette | President | July 1, 2026 M | 931,449 | 0 | 1 | $-263,862 |
| Jonathan Vassil | Chief Revenue Officer | Aug. 19, 2026 M | 69,966 | 0 | 8 | $-2,260,690 |
| Brian R Elworthy | General Counsel | July 1, 2026 M | 196,909 | 0 | 3 | $-2,979,595 |
| Jonathan Grimm | Chief Technology Officer | May 3, 2022 S | 6,868 | 0 | 0 | $0 |
| James Michael Matlock | Principal Accounting Officer | May 3, 2022 S | 590 | 0 | 0 | $0 |
| Anutthara Bharadwaj | Director | June 12, 2026 A | — | 0 | 0 | $0 |
| Richard Kent Bennett | Director | June 12, 2026 A | 5,256 | 0 | 0 | $0 |
| Susan Chapman-Hughes | Director | June 12, 2026 A | 7,645 | 0 | 0 | $0 |
| Hilarie A. Koplow | Director | June 12, 2026 A | 48,147 | 0 | 0 | $0 |
| Mark J Hawkins | Director | June 12, 2026 A | 101,860 | 0 | 0 | $0 |
| BELL PAUL D | Director | June 12, 2026 A | 232,148 | 0 | 0 | $0 |
| PATRICK DEVAL L | Director | June 12, 2026 A | 9,312 | 0 | 0 | $0 |
| David Yuan | Director | Nov. 26, 2024 S | 0 | 0 | 0 | $0 |
| Technology Investment Dining Group, LLC | 10% owner | May 19, 2022 S | 14,607,825 | 0 | 0 | $0 |
| Aman Narang | — | Aug. 10, 2026 S | 0 | 0 | 6 | $-11,001,900 |
| Elena Gomez | — | Aug. 10, 2026 S | 160,150 | 0 | 6 | $-1,216,865 |
| Rossana Niola | — | Aug. 4, 2026 S | 4,306 | 0 | 1 | $-76,868 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
Activists & 5%+ owners 5 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 |
|---|---|---|---|---|---|
| Feb. 16, 2022 | — | Initial filing | — | SEC | |
| Jan. 7, 2022 | — | Initial filing | — | SEC | |
| Nov. 23, 2021 | — | Initial filing | — | SEC | |
| Nov. 12, 2021 | — | Initial filing | — | SEC | |
| Oct. 5, 2021 | — | 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 120 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 |
|---|---|---|---|---|
| AOTG · EA Series Trust | 4.64% | 186,954 NS | May 29, 2026 | N-PORT |
| ARKF · ARK ETF Trust | 4.12% | 1,195,698 NS | April 30, 2026 | N-PORT |
| TMFM · RBB Fund, Inc. | 3.76% | 168,558 NS | May 31, 2026 | N-PORT |
| FDFF · Fidelity Covington Trust | 3.54% | 57,079 NS | May 31, 2026 | N-PORT |
| TMFS · RBB Fund, Inc. | 3.15% | 71,669 NS | May 31, 2026 | N-PORT |
| FINX · Global X Funds | 2.42% | 181,492 NS | May 31, 2026 | N-PORT |
| NUMG · Nushares ETF Trust | 1.94% | 240,967 NS | April 30, 2026 | N-PORT |
| ABOT · Abacus FCF ETF Trust | 1.57% | 2,426 NS | April 30, 2026 | N-PORT |
| MID · AMERICAN CENTURY ETF TRUST | 1.40% | 53,391 NS | May 31, 2026 | N-PORT |
| ARKW · ARK ETF Trust | 1.02% | 595,456 NS | April 30, 2026 | N-PORT |
| RFG · Invesco Exchange-Traded Fund Trust | 0.91% | 90,270 SH | Aug. 21, 2026 | Daily |
| CGGG · Capital Group Equity ETF Trust I | 0.84% | 26,433 NS | May 31, 2026 | N-PORT |
| TMFX · RBB Fund, Inc. | 0.77% | 9,557 NS | May 31, 2026 | N-PORT |
| SKYY · First Trust Exchange-Traded Fund II | 0.70% | 682,842 NS | June 30, 2026 | N-PORT |
| IVOG · VANGUARD ADMIRAL FUNDS | 0.68% | 463,323 SH | Aug. 19, 2026 | Daily |
| ILDR · First Trust Exchange-Traded Fund VI… | 0.51% | 56,094 NS | May 31, 2026 | N-PORT |
| IWP · iShares Trust | 0.48% | 2,749,429 SH | Aug. 21, 2026 | Daily |
| CGGR · Capital Group Growth ETF | 0.39% | 3,679,569 NS | May 31, 2026 | N-PORT |
| FCTR · First Trust Exchange-Traded Fund | 0.39% | 8,071 NS | June 30, 2026 | N-PORT |
| FFF · Founder Funds Trust | 0.38% | 684 NS | June 30, 2026 | N-PORT |
| VBK · VANGUARD INDEX FUNDS | 0.37% | 6,464,777 SH | Aug. 19, 2026 | Daily |
| IVOO · VANGUARD ADMIRAL FUNDS | 0.36% | 756,984 SH | Aug. 19, 2026 | Daily |
| SXQG · EXCHANGE TRADED CONCEPTS TRUST | 0.30% | 7,753 NS | May 31, 2026 | N-PORT |
| BBMC · J.P. Morgan Exchange-Traded Fund Tr… | 0.30% | 211,726 NS | April 30, 2026 | N-PORT |
| QGRO · AMERICAN CENTURY ETF TRUST | 0.30% | 251,311 NS | May 31, 2026 | N-PORT |
| FXL · First Trust Exchange-Traded AlphaDE… | 0.29% | 152,321 NS | April 30, 2026 | N-PORT |
| ESLG · Strategy Shares | 0.29% | 1,982 NS | April 30, 2026 | N-PORT |
| SIZE · iShares Trust | 0.28% | 35,452 SH | Aug. 21, 2026 | Daily |
| WINN · Harbor ETF Trust | 0.28% | 106,148 NS | April 30, 2026 | N-PORT |
| EUSA · iShares, Inc. | 0.27% | 147,968 SH | Aug. 21, 2026 | Daily |
| SKYU · ProShares Trust | 0.25% | 352 NS | May 31, 2026 | N-PORT |
| IMCG · iShares Trust | 0.24% | 283,538 SH | Aug. 21, 2026 | Daily |
| PRFZ · Invesco Exchange-Traded Fund Trust | 0.23% | 186,923 SH | Aug. 21, 2026 | Daily |
| ESUM · Strategy Shares | 0.23% | 12,330 NS | April 30, 2026 | N-PORT |
| TRFM · ETF Series Solutions | 0.18% | 9,944 NS | April 30, 2026 | N-PORT |
| GSEW · Goldman Sachs ETF Trust | 0.18% | 121,853 NS | May 31, 2026 | N-PORT |
| JQUA · J.P. Morgan Exchange-Traded Fund Tr… | 0.17% | 437,610 NS | April 30, 2026 | N-PORT |
| FTC · First Trust Exchange-Traded AlphaDE… | 0.17% | 74,147 NS | April 30, 2026 | N-PORT |
| VB · VANGUARD INDEX FUNDS | 0.16% | 11,219,829 SH | Aug. 19, 2026 | Daily |
| FNCL · FIDELITY COVINGTON TRUST | 0.16% | 121,678 NS | April 30, 2026 | N-PORT |
| CVMC · Morgan Stanley ETF Trust | 0.15% | 5,696 NS | June 30, 2026 | N-PORT |
| VXF · VANGUARD INDEX FUNDS | 0.15% | 5,388,669 SH | Aug. 19, 2026 | Daily |
| VFH · VANGUARD WORLD FUND | 0.15% | 768,573 SH | Aug. 19, 2026 | Daily |
| HELO · J.P. Morgan Exchange-Traded Fund Tr… | 0.14% | 202,524 NS | April 30, 2026 | N-PORT |
| OASC · Unified Series Trust | 0.14% | 4,455 NS | May 31, 2026 | N-PORT |
| MMSC · First Trust Exchange-Traded Fund VI… | 0.13% | 2,679 NS | May 31, 2026 | N-PORT |
| GINN · Goldman Sachs ETF Trust | 0.13% | 10,721 NS | May 31, 2026 | N-PORT |
| JMOM · J.P. Morgan Exchange-Traded Fund Tr… | 0.13% | 99,214 NS | April 30, 2026 | N-PORT |
| IMCB · iShares Trust | 0.12% | 59,614 SH | Aug. 21, 2026 | Daily |
| IWR · iShares Trust | 0.12% | 1,943,073 SH | Aug. 21, 2026 | Daily |