TXG 10x Genomics, Inc. - Common Stock
$62.05
Price · Aug 24, 2026
Fundamentals as of Aug 7, 2026
52W Range
$11–$65
94% of range
Analyst Rating
HOLD
20 analysts
Price Target
$50
P/E (TTM)
-177.3
ROE
-5.5%
Net Profit Margin
-6.8%
TXG Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$62.05
Market Cap
$7.92B
P/E (TTM)
-177.3
EPS (TTM)
$-0.35
Revenue (TTM)
$643M
Div Yield
—
ROE
-5.5%
Debt/Equity
—
52W Range
$11 – $65
TXG Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view
Configure
10-Year Performance Revenue, net income, margins and EPS trends
Revenue & Net Income
$643M
2017-12-31
→
2025-12-31
EPS
$-0.35
2019-12-31
→
2025-12-31
Free Cash Flow
$130M
2019-12-31
→
2025-12-31
Margins
-6.8%
2019-12-31
→
2025-12-31
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Metric
5Y trend
TXG
Peer Median
P/E (TTM)
-177.3
48.2
P/S (TTM)
12.3
4.5
P/B
9.9
3.5
Price / FCF
60.9
—
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Metric
5Y trend
TXG
Peer Median
Gross Margin
69.0%
52.5%
Operating Margin
-9.5%
—
Net Profit Margin
-6.8%
-1.9%
ROA
-4.4%
-1.2%
ROE
-5.5%
-1.7%
ROIC
-8.4%
—
Financial Health Debt, liquidity, solvency — balance sheet strength
Metric
5Y trend
TXG
Peer Median
Current Ratio
4.5
3.0
Quick Ratio
0.3
—
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Metric
5Y trend
TXG
Peer Median
Revenue YoY
5.2%
—
Revenue CAGR 3Y
7.6%
—
Revenue CAGR 5Y
16.6%
—
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
Metric
5Y trend
TXG
Peer Median
TXG Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
BUY
20 analysts
- Strong Buy 5 25.0%
- Buy 4 20.0%
- Hold 11 55.0%
- Sell 0 0.0%
- Strong Sell 0 0.0%
12-Month Price Target
13 analysts · 2026-08-18
Median
$50.00
Now
$62.05
Low
$40.00
High
$65.00
Median target
$50.00
-19.4%
Mean target
$49.54
-20.2%
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
0.20%
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| June 30, 2026 | $-0.14 | $-0.25 | 0.11% |
| March 31, 2026 | $-0.10 | $-0.29 | 0.19% |
| Dec. 31, 2025 | $-0.13 | $-0.21 | 0.08% |
| Sept. 30, 2025 | $-0.22 | $-0.29 | 0.07% |
| June 30, 2025 | $0.28 | $-0.38 | 0.66% |
| March 31, 2025 | $-0.36 | $-0.48 | 0.12% |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| TXG | $2.08B | -46.6 | 5.2% | -6.8% | -5.5% | 69.0% |
| TECH | $7.97B | 111.8 | 5.2% | 6.0% | 3.7% | 64.8% |
| BIO | — | — | — | — | — | — |
| RGEN | $9.23B | 190.5 | 16.4% | 6.6% | 2.4% | — |
| AVTR | $7.82B | -14.7 | -3.4% | -8.1% | -8.9% | 32.6% |
| BRKR | $7.17B | -314.1 | 2.1% | -0.25% | -0.40% | 45.9% |
| SHC | $5.02B | 65.3 | 5.7% | 6.7% | 14.0% | 55.5% |
| ADPT | $2.50B | -41.6 | 54.8% | -21.5% | -28.2% | — |
| ALMR | — | — | — | — | — | — |
| MRVI | — | -3.6 | -28.3% | -70.4% | -48.6% | 18.3% |
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 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | $643M | $611M | $619M | $516M | $490M | $299M | $246M | $146M | |
| Cost of Revenue | $199M | $196M | $209M | $120M | $74M | $58M | $61M | $29M | |
| Gross Profit | $444M | $414M | $409M | $396M | $416M | $240M | $185M | $118M | |
| SG&A Expense | $316M | $344M | $343M | $298M | $258M | $202M | $131M | $88M | |
| Operating Expenses | $505M | $609M | $675M | $564M | $469M | $775M | $215M | $228M | |
| Operating Income | $-61M | $-195M | $-265M | $-168M | $-52M | $-534M | $-31M | $-111M | |
| Interest Expense | · | · | $33.0K | $476.0K | $866.0K | $2M | $3M | $2M | |
| Interest Income | $20M | $19M | $17M | $7M | $206.0K | $2M | $3M | $1M | |
| Other Non-op | $1M | $-2M | $-286.0K | $-198.0K | $-802.0K | $1M | $-186.0K | $-249.0K | |
| Pretax Income | $-40M | $-178M | $-249M | $-162M | $-54M | $-534M | $-31M | $-112M | |
| Income Tax | $4M | $5M | $6M | $4M | $5M | $8M | $218.0K | $87.0K | |
| Net Income | $-44M | $-183M | $-255M | $-166M | $-58M | $-543M | $-31M | $-112M | |
| EPS (Basic) | $-0.35 | $-1.52 | $-2.18 | $-1.46 | $-0.53 | $-5.37 | $-0.80 | · | |
| EPS (Diluted) | $-0.35 | $-1.52 | $-2.18 | $-1.46 | $-0.53 | $-5.37 | $-0.80 | · | |
| Shares (Basic) | 124,749,885 | 120,451,550 | 117,165,036 | 113,858,684 | 110,347,937 | 101,151,675 | 39,091,366 | · | |
| Shares (Diluted) | 124,749,885 | 120,451,550 | 117,165,036 | 113,858,684 | 110,347,937 | 101,151,675 | 39,091,366 | · | |
| EBITDA | $-25M | $-159M | $-230M | $-143M | $-31M | · | $-24M | · |
Balance Sheet 25
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | · | $344M | $359M | $220M | $587M | $664M | $424M | $65M | |
| Receivables | $47M | $88M | $115M | $104M | $85M | $51M | $33M | $28M | |
| Inventory | $56M | $83M | $74M | $82M | $60M | $30M | $15M | $9M | |
| Prepaid Expense | $22M | $19M | $19M | $17M | $14M | $13M | $8M | $4M | |
| Current Assets | $684M | $584M | $596M | $635M | $748M | $774M | $481M | $106M | |
| PP&E (Net) | $227M | $253M | $280M | $289M | $169M | $73M | $49M | $11M | |
| PP&E (Gross) | $380M | $376M | $383M | $358M | $219M | $103M | $68M | $25M | |
| Accum. Depreciation | $153M | $123M | $103M | $69M | $49M | $31M | $19M | $14M | |
| Goodwill | $5M | $5M | $5M | $5M | $5M | $0 | · | · | |
| Intangibles | $62M | $16M | $17M | $23M | $25M | $22M | $22M | $642.0K | |
| Other Non-current Assets | $3M | $4M | $3M | $2M | $3M | $4M | $24M | $2M | |
| Total Assets | $1.04B | $919M | $965M | $1.03B | $1.02B | $929M | $606M | $124M | |
| Accounts Payable | $13M | $13M | $16M | $22M | $17M | $5M | $13M | $9M | |
| Current Liabilities | $153M | $118M | $127M | $131M | $110M | $118M | $63M | $32M | |
| Capital Leases | $73M | $73M | $84M | $86M | $77M | $57M | $0 | · | |
| Other Non-current Liabilities | $6M | $5M | $4M | $3M | $8M | $4M | $2M | $771.0K | |
| Total Liabilities | $245M | $209M | $224M | $223M | $201M | $190M | $186M | $101M | |
| Long-term Debt | · | · | · | · | · | $0 | $30M | $30M | |
| Total Debt | · | · | · | · | · | · | $30M | · | |
| Common Stock | $2.0K | $2.0K | $2.0K | $2.0K | $2.0K | $2.0K | $2.0K | $1.0K | |
| Retained Earnings | $-1.51B | $-1.47B | $-1.28B | $-1.03B | $-863M | $-805M | $-262M | $-231M | |
| AOCI | $225.0K | $-493.0K | $-429.0K | $-4M | $22.0K | $-50.0K | $-46.0K | $-37.0K | |
| Stockholders' Equity | $796M | $710M | $741M | $806M | $818M | $739M | $420M | $-220M | |
| Liabilities + Equity | $1.04B | $919M | $965M | $1.03B | $1.02B | $929M | $606M | $124M | |
| Shares Outstanding | 127,691,329 | 122,291,837 | 119,095,362 | 115,195,009 | 112,514,977 | 108,485,909 | 96,241,596 | 14,549,801 |
Cash Flow 17
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
| D&A | $36M | $36M | $36M | $25M | $21M | $14M | $7M | $4M | |
| Stock-based Comp | $109M | $141M | $167M | $137M | $96M | $49M | $13M | $3M | |
| Deferred Tax | $-310.0K | $709.0K | $-447.0K | $136.0K | $-690.0K | $82.0K | $-6.0K | · | |
| Restructuring | $11M | $259.0K | $2M | $4M | · | · | · | · | |
| Other Non-cash | $35M | $12M | $38M | $-30M | $-80M | · | $45M | · | |
| Operating Cash Flow | $136M | $7M | $-15M | $-34M | $-21M | $-218M | $35M | $-76M | |
| CapEx | $6M | $12M | $49M | $132M | $101M | $37M | $43M | $6M | |
| Investing Cash Flow | $-13M | $-33M | $133M | $-351M | $-107M | $-38M | $-43M | $-7M | |
| Debt Issued | · | · | · | · | · | $0 | $0 | $20M | |
| Net Debt Issued | · | · | · | $0 | $0 | · | · | · | |
| Stock Issued | · | · | · | $0 | $0 | $482M | $411M | $0 | |
| Net Stock Activity | · | · | · | $0 | $0 | · | $411M | · | |
| Financing Cash Flow | $7M | $11M | $14M | $16M | $35M | $469M | $415M | $105M | |
| Net Change in Cash | $130M | $-15M | $132M | $-369M | $-93M | $212M | $406M | $22M | |
| Taxes Paid | $2M | $6M | $5M | $4M | $9M | $280.0K | $22.0K | $6.0K | |
| Free Cash Flow | $130M | $-6M | $-64M | $-165M | $-123M | · | $-8M | · | |
| Levered FCF | · | · | $-64M | $-166M | $-124M | · | $-11M | · |
Profitability 8
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 69.0% | 67.9% | 66.1% | 76.7% | 84.9% | · | 75.2% | · | |
| Operating Margin | -9.5% | -31.9% | -42.9% | -32.5% | -10.7% | · | -12.4% | · | |
| Net Margin | -6.8% | -29.9% | -41.2% | -32.1% | -11.9% | · | -12.7% | · | |
| Pretax Margin | -6.2% | -29.1% | -40.2% | -31.4% | -10.9% | · | -12.6% | · | |
| EBITDA Margin | -3.9% | -26.0% | -37.1% | -27.6% | -6.3% | · | -9.6% | · | |
| ROA | -4.4% | -19.4% | -25.6% | -16.2% | -6.0% | · | -8.6% | · | |
| ROE | -5.5% | -25.5% | -34.3% | -21.0% | -7.2% | · | -7.4% | · | |
| ROIC | -8.4% | -28.2% | -36.7% | -21.4% | -6.9% | · | -6.8% | · |
Liquidity & Solvency 5
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 4.5 | 5.0 | 4.7 | 4.8 | 6.8 | · | 7.6 | · | |
| Quick Ratio | 0.3 | 3.7 | 3.7 | 2.5 | 6.1 | · | 7.3 | · | |
| Debt / Equity | · | · | · | · | · | · | 0.1 | · | |
| LT Debt / Equity | · | · | · | · | · | · | 0.0 | · | |
| Interest Coverage | · | · | -8040.3 | -352.8 | -60.3 | · | -9.9 | · |
Efficiency 3
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.7 | 0.6 | 0.6 | 0.5 | 0.5 | · | 0.7 | · | |
| Inventory Turnover | 2.9 | 2.5 | 2.7 | 1.7 | 1.6 | · | 5.1 | · | |
| Receivables Turnover | 9.5 | 6.0 | 5.6 | 5.5 | 7.2 | · | 8.0 | · |
Growth Rates 3
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue YoY | 5.2% | -1.3% | 19.8% | 5.3% | 64.1% | · | · | · | |
| Revenue CAGR 3Y | 7.6% | 7.6% | 27.5% | · | · | · | · | · | |
| Revenue CAGR 5Y | 16.6% | · | · | · | · | · | · | · |
Valuation (TTM) 14
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $643M | $611M | $619M | $516M | $490M | $299M | $246M | · | |
| Net Income TTM | $-44M | $-183M | $-255M | $-166M | $-58M | $-543M | $-31M | · | |
| Market Cap | $2.08B | $1.76B | $6.66B | $4.20B | $16.76B | · | $7.34B | · | |
| Enterprise Value | · | · | · | · | · | · | $6.94B | · | |
| P/E | -46.6 | -9.4 | -25.7 | -25.0 | -281.1 | -26.4 | -95.3 | · | |
| P/S | 3.2 | 2.9 | 10.8 | 8.1 | 34.2 | · | 29.8 | · | |
| P/B | 2.6 | 2.5 | 9.0 | 5.2 | 20.5 | · | 17.5 | · | |
| P / Tangible Book | 2.9 | 2.5 | 9.3 | 5.4 | 21.3 | 21.4 | · | · | |
| P / Cash Flow | 15.3 | 263.5 | -438.5 | -124.9 | -784.2 | · | 211.9 | · | |
| P / FCF | 16.0 | -306.5 | -104.5 | -25.4 | -136.6 | · | -904.3 | · | |
| EV / EBITDA | · | · | · | · | · | · | -295.4 | · | |
| EV / FCF | · | · | · | · | · | · | -855.7 | · | |
| EV / Revenue | · | · | · | · | · | · | 28.2 | · | |
| Earnings Yield | -2.1% | -10.6% | -3.9% | -4.0% | -0.36% | -3.8% | -1.1% | · |
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 | $151M | $151M | $166M | $149M | $173M | $155M | $165M | $152M | $153M | $141M | $184M | $154M | $147M | $134M | $156M | $131M | |
| Cost of Revenue | $39M | $45M | $53M | $49M | $48M | $49M | $54M | $45M | $49M | $48M | $68M | $58M | $47M | $36M | $37M | $30M | |
| Gross Profit | $112M | $106M | $113M | $100M | $125M | $105M | $111M | $106M | $104M | $93M | $116M | $96M | $100M | $98M | $119M | $101M | |
| SG&A Expense | $79M | $66M | $77M | $75M | $74M | $90M | $94M | $82M | $83M | $86M | $86M | $82M | $92M | $83M | $79M | $73M | |
| Operating Expenses | $132M | $123M | $133M | $133M | $95M | $145M | $161M | $148M | $146M | $154M | $171M | $190M | $163M | $150M | $143M | $141M | |
| Operating Income | $-20M | $-17M | $-20M | $-32M | $30M | $-39M | $-50M | $-41M | $-42M | $-61M | $-55M | $-95M | $-63M | $-52M | $-23M | $-40M | |
| Interest Expense | · | · | · | · | · | · | · | · | · | $1.0K | · | $1.0K | $5.0K | $19.0K | · | $114.0K | |
| Interest Income | $5M | $5M | $7M | $5M | $4M | $4M | $5M | $5M | $5M | $5M | $5M | $4M | $4M | $4M | $3M | $2M | |
| Other Non-op | $-4M | $-815.0K | $-3M | $-1M | $3M | $2M | $-3M | $2M | $-56.0K | $-1M | $4M | $-1M | $-2M | $-2M | $4M | $-2M | |
| Pretax Income | $-19M | $-13M | $-15M | $-28M | $37M | $-34M | $-48M | $-34M | $-37M | $-58M | $-47M | $-92M | $-61M | $-50M | $-16M | $-40M | |
| Income Tax | $-714.0K | $623.0K | $1M | $-733.0K | $2M | $852.0K | $648.0K | $1M | $818.0K | $2M | $2M | $1M | $2M | $1M | $804.0K | $2M | |
| Net Income | $-18M | $-13M | $-16M | $-27M | $35M | $-34M | $-49M | $-36M | $-38M | $-60M | $-49M | $-93M | $-62M | $-51M | $-17M | $-42M | |
| EPS (Basic) | $-0.14 | $-0.10 | $-0.13 | $-0.22 | $0.28 | $-0.28 | $-0.40 | $-0.30 | $-0.32 | $-0.50 | $-0.42 | $-0.79 | $-0.53 | $-0.44 | $-0.14 | $-0.37 | |
| EPS (Diluted) | $-0.14 | $-0.10 | $-0.13 | $-0.22 | $0.28 | $-0.28 | $-0.40 | $-0.30 | $-0.32 | $-0.50 | $-0.42 | $-0.79 | $-0.53 | $-0.44 | $-0.14 | $-0.37 | |
| Shares (Basic) | 129,984,169 | 128,291,153 | -247,113,906 | 125,502,291 | 123,755,409 | 122,606,091 | -239,742,632 | 120,733,030 | 120,066,972 | 119,394,180 | -232,890,798 | 117,728,293 | 116,707,672 | 115,619,869 | -226,794,651 | 114,112,382 | |
| Shares (Diluted) | 129,984,169 | 128,291,153 | -247,868,217 | 125,502,291 | 124,509,720 | 122,606,091 | -239,742,632 | 120,733,030 | 120,066,972 | 119,394,180 | -232,890,798 | 117,728,293 | 116,707,672 | 115,619,869 | -226,794,651 | 114,112,382 | |
| EBITDA | $-20M | $-7M | · | $-32M | $30M | $-31M | · | $-41M | $-42M | $-52M | · | $-95M | $-63M | $-46M | · | $-40M |
Balance Sheet 23
| 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 | · | · | · | · | · | · | · | · | · | · | · | · | · | · | $220M | · | |
| Receivables | $48M | $39M | $47M | $44M | $50M | $53M | $88M | $84M | $91M | $91M | · | $104M | $88M | $78M | · | $84M | |
| Inventory | $53M | $53M | $56M | $62M | $69M | $75M | $83M | $94M | $88M | $83M | · | $81M | $84M | $82M | · | $79M | |
| Prepaid Expense | $19M | $20M | $22M | $19M | $20M | $26M | $19M | $18M | $20M | $21M | · | $20M | $19M | $21M | · | $14M | |
| Current Assets | $675M | $670M | $684M | $660M | $656M | $580M | $584M | $594M | $579M | $567M | · | $562M | $583M | $602M | · | $629M | |
| PP&E (Net) | $215M | $221M | $227M | $233M | $240M | $246M | $253M | $259M | $263M | $269M | · | $285M | $285M | $292M | · | $258M | |
| PP&E (Gross) | $383M | $382M | $380M | $378M | $380M | $377M | $376M | $383M | $379M | $380M | · | $379M | $370M | · | · | · | |
| Accum. Depreciation | $168M | $161M | $153M | $146M | $140M | $131M | $123M | $125M | $115M | $110M | · | $94M | $86M | · | · | · | |
| Goodwill | $7M | $5M | $5M | $5M | $5M | $5M | $5M | $5M | $5M | $5M | · | $5M | $5M | $5M | · | $5M | |
| Intangibles | $61M | $60M | $62M | $65M | $15M | $15M | $16M | $16M | $17M | $16M | · | $22M | $22M | $23M | · | $23M | |
| Other Non-current Assets | $15M | $3M | $3M | $2M | $3M | $2M | $4M | $5M | $5M | $3M | · | $3M | $20M | $13M | · | $3M | |
| Total Assets | $1.03B | $1.02B | $1.04B | $1.03B | $980M | $903M | $919M | $938M | $930M | $923M | · | $949M | $990M | $1.01B | · | $996M | |
| Accounts Payable | $21M | $17M | $13M | $18M | $16M | $10M | $13M | $26M | $21M | $20M | · | $19M | $23M | $29M | · | $22M | |
| Current Liabilities | $119M | $114M | $153M | $147M | $112M | $108M | $118M | $121M | $111M | $109M | · | $105M | $98M | $112M | · | $127M | |
| Capital Leases | $67M | $70M | $73M | $76M | $77M | $71M | $73M | $76M | $79M | $81M | · | $88M | $90M | $93M | · | $88M | |
| Other Non-current Liabilities | $7M | $6M | $6M | $6M | $6M | $5M | $5M | $5M | $5M | $5M | · | $10M | $8M | $7M | · | $6M | |
| Total Liabilities | $205M | $201M | $245M | $242M | $207M | $196M | $209M | $215M | $206M | $204M | · | $203M | $196M | $212M | · | $220M | |
| Common Stock | $2.0K | $2.0K | $2.0K | $2.0K | $2.0K | $2.0K | $2.0K | $2.0K | $2.0K | $2.0K | · | $2.0K | $2.0K | $2.0K | · | $2.0K | |
| Retained Earnings | $-1.54B | $-1.52B | $-1.51B | $-1.49B | $-1.47B | $-1.50B | $-1.47B | $-1.42B | $-1.38B | $-1.34B | · | $-1.24B | $-1.14B | $-1.08B | · | $-1.01B | |
| AOCI | $77.0K | $114.0K | $225.0K | $138.0K | $220.0K | $-367.0K | $-493.0K | $32.0K | $-430.0K | $-456.0K | · | $-677.0K | $-969.0K | $-1M | · | $-5M | |
| Stockholders' Equity | $826M | $814M | $796M | $785M | $773M | $707M | $710M | $723M | $724M | $719M | $741M | $745M | $793M | $802M | $806M | $776M | |
| Liabilities + Equity | $1.03B | $1.02B | $1.04B | $1.03B | $980M | $903M | $919M | $938M | $930M | $923M | · | $949M | $990M | $1.01B | · | $996M | |
| Shares Outstanding | · | · | 127,691,329 | · | · | · | 122,291,837 | · | · | · | · | · | · | · | · | · |
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 | $10M | $10M | $10M | $10M | $8M | $8M | $9M | $9M | $9M | $9M | $10M | $9M | $10M | $6M | $7M | $6M | |
| Stock-based Comp | $26M | $23M | $25M | $25M | $28M | $31M | $33M | $34M | $38M | $36M | $39M | $40M | $46M | $42M | $41M | $34M | |
| Restructuring | · | · | $5M | $6M | $6M | · | · | · | · | · | · | · | · | · | $0 | · | |
| Other Non-cash | · | $7M | · | · | · | $30M | · | · | · | $-1M | · | · | · | $-2M | · | · | |
| Operating Cash Flow | $17M | $26M | $41M | $43M | $18M | $34M | $-7M | $22M | $7M | $-16M | $26M | $-25M | $-12M | $-4M | $14M | $-10M | |
| CapEx | $2M | $2M | $2M | $687.0K | $2M | $2M | $3M | $4M | $3M | $3M | $3M | $15M | $25M | $5M | $40M | $37M | |
| Investing Cash Flow | $-8M | $-1M | $-2M | $-9M | $-939.0K | $-2M | $-52M | $-4M | $12M | $11M | $13M | $5M | $-4M | $120M | $-33M | $-33M | |
| Financing Cash Flow | $3M | $-8M | $2M | $617.0K | $4M | $422.0K | $5M | $156.0K | $5M | $2M | $6M | $4M | $7M | $-3M | $5M | $2M | |
| Net Change in Cash | $12M | $16M | $41M | $35M | $21M | $33M | $-54M | $18M | $24M | $-4M | $45M | $-16M | $-9M | $112M | $-14M | $-40M | |
| Taxes Paid | $1M | $-278.0K | $456.0K | $617.0K | $856.0K | $462.0K | $778.0K | $3M | $1M | $961.0K | $476.0K | $599.0K | $1M | $3M | $276.0K | $330.0K | |
| Free Cash Flow | · | $25M | · | · | · | $32M | · | · | · | $-19M | · | · | · | $-9M | · | · | |
| Levered FCF | · | · | · | · | · | · | · | · | · | $-19M | · | · | · | $-9M | · | · |
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 | 74.5% | 70.4% | · | 67.3% | 72.3% | 68.1% | · | 70.2% | 68.1% | 65.9% | · | 62.2% | 67.8% | 73.3% | · | 76.8% | |
| Operating Margin | -13.0% | -11.3% | · | -21.6% | 17.4% | -25.4% | · | -27.4% | -27.3% | -43.6% | · | -61.7% | -43.1% | -38.7% | · | -30.5% | |
| Net Margin | -11.9% | -8.9% | · | -18.4% | 20.0% | -22.2% | · | -23.6% | -24.8% | -42.5% | · | -60.5% | -42.5% | -37.8% | · | -32.0% | |
| Pretax Margin | -12.3% | -8.5% | · | -18.9% | 21.4% | -21.6% | · | -22.7% | -24.2% | -41.0% | · | -59.7% | -41.4% | -37.0% | · | -30.5% | |
| EBITDA Margin | -13.0% | -4.7% | · | -21.6% | 17.4% | -20.2% | · | -27.4% | -27.3% | -37.1% | · | -61.7% | -43.1% | -33.9% | · | -30.5% | |
| ROA | -1.8% | -1.4% | · | -2.8% | 3.6% | -3.8% | · | -3.8% | -4.0% | -6.2% | · | -9.6% | -6.3% | -5.0% | · | -4.2% | |
| ROE | -2.2% | -1.8% | · | -3.6% | 4.6% | -4.8% | · | -4.9% | -5.0% | -7.9% | · | -12.2% | -7.9% | -6.3% | · | -5.3% | |
| ROIC | -2.3% | -2.2% | · | -4.0% | 3.6% | -5.7% | · | -6.0% | -5.9% | -8.9% | · | -12.9% | -8.2% | -6.6% | · | -5.4% |
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 | 5.7 | 5.9 | · | 4.5 | 5.8 | 5.4 | · | 4.9 | 5.2 | 5.2 | · | 5.4 | 5.9 | 5.4 | · | 5.0 | |
| Quick Ratio | 0.4 | 0.3 | · | 0.3 | 0.4 | 0.5 | · | 0.7 | 0.8 | 0.8 | · | 1.0 | 0.9 | 0.7 | · | 0.7 | |
| Interest Coverage | · | · | · | · | · | · | · | · | · | -61498.0 | · | -94795.0 | -12671.6 | -2736.2 | · | -350.8 |
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 | 0.2 | 0.2 | · | 0.2 | 0.2 | 0.2 | · | 0.2 | 0.2 | 0.1 | · | 0.2 | 0.1 | 0.1 | · | 0.1 | |
| Inventory Turnover | 0.6 | 0.7 | · | 0.6 | 0.6 | 0.6 | · | 0.5 | 0.6 | 0.6 | · | 0.7 | 0.6 | 0.5 | · | 0.5 | |
| Receivables Turnover | 3.1 | 3.3 | · | 2.3 | 2.4 | 2.2 | · | 1.6 | 1.7 | 1.7 | · | 1.6 | 1.8 | 1.7 | · | 1.6 |
Valuation (TTM) 4
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $624M | $628M | · | $628M | $633M | $601M | · | $599M | $595M | $576M | · | $566M | $527M | $494M | · | $485M | |
| Net Income TTM | $-24M | $-41M | · | $-63M | $-73M | $-168M | · | $-227M | $-253M | $-266M | · | $-248M | $-220M | $-200M | · | $-166M | |
| P/E | -213.0 | -66.3 | · | -22.5 | -18.7 | -6.2 | · | -11.8 | -9.1 | -16.6 | · | -19.4 | -29.2 | -31.7 | · | -19.4 | |
| Earnings Yield | -0.47% | -1.5% | · | -4.5% | -5.3% | -16.0% | · | -8.5% | -11.0% | -6.0% | · | -5.2% | -3.4% | -3.1% | · | -5.2% |
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 | $643M | $611M | $619M | $516M | $490M |
| Gross Margin % | 69.0% | 67.9% | 66.1% | 76.7% | 84.9% |
| Operating Margin % | -9.5% | -31.9% | -42.9% | -32.5% | -10.7% |
| Net Income | $-44M | $-183M | $-255M | $-166M | $-58M |
| Diluted EPS | $-0.35 | $-1.52 | $-2.18 | $-1.46 | $-0.53 |
Balance Sheet
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Current Ratio | 4.5 | 5.0 | 4.7 | 4.8 | 6.8 |
| Quick Ratio | 0.3 | 3.7 | 3.7 | 2.5 | 6.1 |
Cash Flow
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Free Cash Flow | $130M | $-6M | $-64M | $-165M | $-123M |
Latest News Recent headlines mentioning this company
My Metrics Your personal watchlist — selected rows from Full Fundamentals
📊
Pick the metrics that matter to you — click the ➕ next to any row in Full Fundamentals above.
Your selection is saved and follows you across all tickers.
Institutional owners (13F) 412 filers · $3.6B 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 |
|---|---|---|---|---|
| 97 (+31 vs prior Q) | 32 (-4 vs prior Q) | 99 (-12 vs prior Q) | 135 (+38 vs prior Q) | +782K |
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 |
|---|---|---|---|---|
| FMR LLC | $579,072,331 | 15,103,608 | 16.16% | Shares |
| ARK Investment Management LLC | $383,517,223 | 10,003,057 | 10.70% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $267,708,743 | 6,982,492 | 7.47% | Shares |
| Quantinno Capital Management LP | $209,708,221 | 5,469,698 | 5.85% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $194,866,654 | 5,082,594 | 5.44% | Shares |
| Sumitomo Mitsui Trust Group, Inc. | $160,821,999 | 4,194,627 | 4.49% | Shares |
| Amova Asset Management Americas, Inc. | $160,741,102 | 4,192,517 | 4.49% | Shares |
| STATE STREET CORP | $107,407,095 | 2,801,437 | 3.00% | Shares |
| CITADEL ADVISORS LLC | $106,551,844 | 2,779,130 | 2.97% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $101,560,675 | 2,648,400 | 2.83% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $79,971,144 | 2,085,841 | 2.23% | Shares |
| GOLDMAN SACHS GROUP INC | $77,712,305 | 2,026,925 | 2.17% | Shares |
| JACOBS LEVY EQUITY MANAGEMENT, INC | $77,442,314 | 2,019,883 | 2.16% | Shares |
| Point72 Asset Management, L.P. | $71,035,432 | 1,852,776 | 1.98% | Shares |
| Capital World Investors | $57,242,809 | 1,493,031 | 1.60% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $41,681,331 | 1,087,150 | 1.16% | Shares |
| Casdin Capital, LLC | $40,257,000 | 1,050,000 | 1.12% | Shares |
| Connor, Clark & Lunn Investment Management Ltd. | $37,426,051 | 976,162 | 1.04% | Shares |
| Anomaly Capital Management, LP | $33,271,222 | 867,794 | 0.93% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $32,022,450 | 835,223 | 0.89% | Shares |
| RENAISSANCE TECHNOLOGIES LLC | $30,750,175 | 802,039 | 0.86% | Shares |
| Blue Water Life Science Advisors, LP | $24,614,280 | 642,000 | 0.69% | Shares |
| CLOUGH CAPITAL PARTNERS L P | $21,085,965 | 549,973 | 0.59% | Shares |
| TWO SIGMA ADVISERS, LP | $20,630,519 | 1,264,900 | 0.58% | Shares |
| HSBC HOLDINGS PLC | $20,293,570 | 537,009 | 0.57% | Shares |
| Sands Capital Alternatives, LLC | $18,471,062 | 481,770 | 0.52% | Shares |
| JANE STREET GROUP, LLC | $18,310,187 | 477,574 | 0.51% | Shares |
| Caisse de depot et placement du Quebec | $17,098,988 | 445,983 | 0.48% | Shares |
| Meridiem Capital Partners LP | $16,187,876 | 422,219 | 0.45% | Shares |
| FIRST TRUST ADVISORS LP | $15,907,035 | 414,894 | 0.44% | Shares |
| IQ EQ FUND MANAGEMENT (IRELAND) Ltd | $15,502,817 | 404,351 | 0.43% | Shares |
| AMERICAN CENTURY COMPANIES INC | $12,364,113 | 322,486 | 0.34% | Shares |
| Simplify Asset Management Inc. | $11,231,243 | 292,938 | 0.31% | Shares |
| SILVERCREST ASSET MANAGEMENT GROUP LLC | $10,993,842 | 286,746 | 0.31% | Shares |
| Tao Capital Management LP | $10,868,201 | 283,469 | 0.30% | Shares |
| Trexquant Investment LP | $10,511,908 | 274,176 | 0.29% | Shares |
| Bellevue Group AG | $10,024,760 | 261,470 | 0.28% | Shares |
| Freshford Capital Management, LLC | $9,964,451 | 259,897 | 0.28% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $9,577,332 | 249,800 | 0.27% | Call option |
| Summit Trail Advisors, LLC | $8,641,453 | 225,390 | 0.24% | Shares |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | $8,618,257 | 224,785 | 0.24% | Shares |
| Nuveen, LLC | $8,567,571 | 223,463 | 0.24% | Shares |
| ARCH Venture Management, LLC | $8,351,756 | 217,834 | 0.23% | Shares |
| Hillsdale Investment Management Inc. | $8,289,108 | 216,200 | 0.23% | Shares |
| Focus Partners Wealth | $8,213,686 | 214,296 | 0.23% | Shares |
| Vestmark Advisory Solutions, Inc. | $8,161,704 | 212,877 | 0.23% | Shares |
| Swiss National Bank | $8,151,084 | 212,600 | 0.23% | Shares |
| FRED ALGER MANAGEMENT, LLC | $8,132,873 | 212,125 | 0.23% | Shares |
| Pictet Asset Management Holding SA | $7,717,815 | 207,256 | 0.22% | Shares |
| OSAIC HOLDINGS, INC. | $7,680,801 | 200,339 | 0.21% | Shares |
| BANK OF AMERICA CORP /DE/ | $7,498,538 | 195,580 | 0.21% | Shares |
| SAMLYN CAPITAL, LLC | $7,376,424 | 192,395 | 0.21% | Shares |
| Corient Private Wealth LP | $7,325,896 | 191,079 | 0.20% | Shares |
| Allianz Asset Management GmbH | $6,793,791 | 320,009 | 0.19% | Shares |
| AMERIPRISE FINANCIAL INC | $6,791,625 | 177,142 | 0.19% | Shares |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. | $6,784,416 | 176,954 | 0.19% | Shares |
| HARVARD MANAGEMENT CO INC | $6,517,800 | 170,000 | 0.18% | Shares |
| WEALTH ENHANCEMENT ADVISORY SERVICES, LLC | $6,478,320 | 159,113 | 0.18% | Shares |
| LPL Financial LLC | $6,056,915 | 157,979 | 0.17% | Shares |
| Caprock Group, LLC | $5,959,723 | 155,444 | 0.17% | Shares |
| MORGAN STANLEY | $5,808,127 | 151,490 | 0.16% | Shares |
| RHUMBLINE ADVISERS | $5,767,202 | 150,423 | 0.16% | Shares |
| CITADEL ADVISORS LLC | $5,758,668 | 150,200 | 0.16% | Call option |
| TWO SIGMA INVESTMENTS, LP | $5,435,692 | 141,776 | 0.15% | Shares |
| JANUS HENDERSON GROUP PLC | $5,425,963 | 255,580 | 0.15% | Shares |
| UBS Group AG | $5,051,448 | 131,754 | 0.14% | Shares |
| BlackRock, Inc. | $4,924,581 | 128,445 | 0.14% | Shares |
| FINANCIAL CONSULATE, INC | $4,844,490 | 126,356 | 0.14% | Shares |
| MILLENNIUM MANAGEMENT LLC | $4,479,377 | 116,833 | 0.12% | Shares |
| Gotham Asset Management, LLC | $4,242,704 | 110,660 | 0.12% | Shares |
| MERCER GLOBAL ADVISORS INC /ADV | $4,166,701 | 108,692 | 0.12% | Shares |
| PEAK6 LLC | $3,991,194 | 104,100 | 0.11% | Call option |
| Exome Asset Management LLC | $3,934,796 | 102,629 | 0.11% | Shares |
| Campbell & CO Investment Adviser LLC | $3,932,457 | 102,568 | 0.11% | Shares |
| Russell Investments Group, Ltd. | $3,910,066 | 101,984 | 0.11% | Shares |
| BNP PARIBAS FINANCIAL MARKETS | $3,905,006 | 101,852 | 0.11% | Shares |
| IEQ CAPITAL, LLC | $3,895,900 | 101,615 | 0.11% | Shares |
| VANGUARD ASSET MANAGEMENT, Ltd | $3,827,559 | 99,832 | 0.11% | Shares |
| JANE STREET GROUP, LLC | $3,692,142 | 96,300 | 0.10% | Call option |
| Williamson Legacy Group, LLC | $3,644,600 | 95,060 | 0.10% | Shares |
| LAZARD ASSET MANAGEMENT LLC | $3,522,411 | 91,873 | 0.10% | Shares |
| Arax Advisory Partners | $3,455,930 | 90,139 | 0.10% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $3,313,381 | 86,421 | 0.09% | Shares |
| D. E. Shaw & Co., Inc. | $3,242,951 | 84,584 | 0.09% | Shares |
| J. Goldman & Co LP | $3,225,889 | 84,139 | 0.09% | Shares |
| Pembroke Management, LTD | $3,174,284 | 82,793 | 0.09% | Shares |
| Quantedge Capital Pte Ltd | $3,103,738 | 80,953 | 0.09% | Shares |
| COOKSON PEIRCE & CO INC | $3,079,163 | 80,312 | 0.09% | Shares |
| BRIDGEWAY CAPITAL MANAGEMENT, LLC | $3,067,200 | 80,000 | 0.09% | Shares |
| ENVESTNET ASSET MANAGEMENT INC | $3,040,857 | 79,314 | 0.08% | Shares |
| PRELUDE CAPITAL MANAGEMENT, LLC | $3,013,409 | 78,597 | 0.08% | Shares |
| ALLIANCEBERNSTEIN L.P. | $2,984,535 | 140,581 | 0.08% | Shares |
| Brevan Howard Capital Management LP | $2,982,967 | 77,803 | 0.08% | Shares |
| Cerity Partners LLC | $2,897,163 | 75,565 | 0.08% | Shares |
| Convergence Investment Partners, LLC | $2,846,132 | 74,234 | 0.08% | Shares |
| NORGES BANK | $2,786,321 | 72,674 | 0.08% | Shares |
| PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO | $2,682,650 | 69,970 | 0.07% | Shares |
| MetLife Investment Management, LLC | $2,660,068 | 69,381 | 0.07% | Shares |
| CWM, LLC | $2,649,589 | 124,804 | 0.07% | Shares |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM | $2,614,305 | 123,142 | 0.07% | Shares |
Company insiders 14 insiders · 5 officers · 9 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Serge Saxonov | Chief Executive Officer | June 22, 2026 S | 1,108,380 | 0 | 4 | $-1,033,295 |
| Justin J. Mcanear | Chief Financial Officer | March 21, 2023 A | 101,510 | 0 | 0 | $0 |
| Benjamin J. Hindson | President and Chief Scientific Officer | March 21, 2023 A | 286,624 | 0 | 0 | $0 |
| James Wilbur | Chief Commercial Officer | March 21, 2023 A | 110,394 | 0 | 0 | $0 |
| Bradford Crutchfield | Chief Commercial Officer | Sept. 13, 2021 M | 43,336 | 0 | 0 | $0 |
| Shehnaaz Suliman | Director | June 16, 2026 S | 31,722 | 0 | 2 | $-186,760 |
| Sridhar Kosaraju | Director | June 4, 2026 A | 65,278 | 0 | 0 | $0 |
| Alan Mateo | Director | June 4, 2026 A | 85,877 | 0 | 0 | $0 |
| Kimberly J Popovits | Director | June 4, 2026 A | 37,445 | 0 | 0 | $0 |
| Mathai Mammen | Director | June 11, 2021 A | 625 | 0 | 0 | $0 |
| Bryan E Roberts | Director | June 11, 2021 A | 625 | 0 | 0 | $0 |
| Paul A. Conley | Director | Sept. 11, 2019 A | — | 0 | 0 | $0 |
| Sarah A. Teichmann | — | Aug. 14, 2026 S | 28,058 | 0 | 2 | $-432,279 |
| John R Stuelpnagel | — | Aug. 11, 2026 S | 348,436 | 0 | 2 | $-1,155,020 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
Activists & 5%+ owners 2 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 |
|---|---|---|---|---|---|
| Benjamin J. Hindson ×2 filings | July 30, 2021 | — | Initial filing | Board campaign | SEC |
| Serge Saxonov ×2 filings | July 30, 2021 | — | Initial filing | Board campaign | 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 81 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 |
|---|---|---|---|---|
| ARKG · ARK ETF Trust | 5.77% | 3,232,541 NS | April 30, 2026 | N-PORT |
| GNOM · Global X Funds | 3.23% | 63,665 NS | May 31, 2026 | N-PORT |
| FMED · Fidelity Covington Trust | 3.11% | 45,000 NS | May 31, 2026 | N-PORT |
| PTH · Invesco Exchange-Traded Fund Trust | 2.87% | 121,075 SH | Aug. 21, 2026 | Daily |
| ARKK · ARK ETF Trust | 2.31% | 6,786,735 NS | April 30, 2026 | N-PORT |
| EKG · First Trust Exchange-Traded Fund II | 1.80% | 1,323 NS | June 30, 2026 | N-PORT |
| QQQS · Invesco Exchange-Traded Fund Trust … | 1.11% | 3,955 SH | Aug. 21, 2026 | Daily |
| RING · iShares, Inc. | 1.09% | 537,680 SH | Aug. 21, 2026 | Daily |
| LSEQ · Harbor ETF Trust | 0.99% | 6,891 NS | April 30, 2026 | N-PORT |
| GSC · Goldman Sachs ETF Trust | 0.95% | 84,787 NS | May 31, 2026 | N-PORT |
| DWAS · Invesco Exchange-Traded Fund Trust … | 0.79% | 54,253 SH | Aug. 21, 2026 | Daily |
| FTXH · First Trust Exchange-Traded Fund VI | 0.78% | 7,367 NS | June 30, 2026 | N-PORT |
| SLVP · iShares, Inc. | 0.54% | 111,069 SH | Aug. 21, 2026 | Daily |
| JSML · Janus Detroit Street Trust | 0.53% | 76,225 NS | April 30, 2026 | N-PORT |
| IBB · iShares Trust | 0.51% | 842,613 SH | Aug. 21, 2026 | Daily |
| IBBQ · Invesco Exchange-Traded Fund Trust … | 0.48% | 6,875 SH | Aug. 21, 2026 | Daily |
| IWO · iShares Trust | 0.47% | 1,112,639 SH | Aug. 21, 2026 | Daily |
| FYC · First Trust Exchange-Traded AlphaDE… | 0.46% | 220,017 NS | April 30, 2026 | N-PORT |
| PRFZ · Invesco Exchange-Traded Fund Trust | 0.42% | 188,047 SH | Aug. 21, 2026 | Daily |
| JSMD · Janus Detroit Street Trust | 0.42% | 186,577 NS | April 30, 2026 | N-PORT |
| PSC · Principal Exchange-Traded Funds | 0.41% | 246,745 NS | June 30, 2026 | N-PORT |
| VTWG · VANGUARD SCOTTSDALE FUNDS | 0.27% | 127,489 SH | Aug. 19, 2026 | Daily |
| IWM · iShares Trust | 0.24% | 3,057,836 SH | Aug. 21, 2026 | Daily |
| AVSC · AMERICAN CENTURY ETF TRUST | 0.24% | 235,149 NS | May 31, 2026 | N-PORT |
| FYX · First Trust Exchange-Traded AlphaDE… | 0.24% | 130,806 NS | April 30, 2026 | N-PORT |
| OMFS · Invesco Exchange-Traded Self-Indexe… | 0.23% | 10,420 SH | Aug. 21, 2026 | Daily |
| GSSC · Goldman Sachs ETF Trust | 0.23% | 80,266 NS | May 31, 2026 | N-PORT |
| OASC · Unified Series Trust | 0.21% | 6,276 NS | May 31, 2026 | N-PORT |
| VFMF · VANGUARD WELLINGTON FUND | 0.21% | 38,009 SH | Aug. 19, 2026 | Daily |
| BIB · ProShares Trust | 0.17% | 4,351 NS | May 31, 2026 | N-PORT |
| ISCF · iShares Trust | 0.15% | 20,786 SH | Aug. 21, 2026 | Daily |
| VTWO · VANGUARD SCOTTSDALE FUNDS | 0.14% | 686,171 SH | Aug. 19, 2026 | Daily |
| BBSC · J.P. Morgan Exchange-Traded Fund Tr… | 0.13% | 44,521 NS | April 30, 2026 | N-PORT |
| ESML · iShares Trust | 0.13% | 60,134 SH | Aug. 21, 2026 | Daily |
| ISCV · iShares Trust | 0.13% | 13,996 SH | Aug. 21, 2026 | Daily |
| VBK · VANGUARD INDEX FUNDS | 0.12% | 1,467,202 SH | Aug. 19, 2026 | Daily |
| PDN · Invesco Exchange-Traded Fund Trust … | 0.12% | 8,332 SH | Aug. 21, 2026 | Daily |
| ISCB · iShares Trust | 0.11% | 4,916 SH | Aug. 21, 2026 | Daily |
| WSML · iShares Trust | 0.10% | 12,010 SH | Aug. 21, 2026 | Daily |
| VFMO · VANGUARD WELLINGTON FUND | 0.10% | 50,760 SH | Aug. 19, 2026 | Daily |
| VSS · VANGUARD INTERNATIONAL EQUITY INDEX… | 0.10% | 353,720 SH | Aug. 19, 2026 | Daily |
| GINN · Goldman Sachs ETF Trust | 0.10% | 7,232 NS | May 31, 2026 | N-PORT |
| ISCG · iShares Trust | 0.10% | 14,876 SH | Aug. 21, 2026 | Daily |
| FAD · First Trust Exchange-Traded AlphaDE… | 0.09% | 20,516 NS | April 30, 2026 | N-PORT |
| RB · ProShares Trust | 0.08% | 33 NS | May 31, 2026 | N-PORT |
| ITWO · ProShares Trust | 0.08% | 5,293 NS | May 31, 2026 | N-PORT |
| RSSL · Global X Funds | 0.08% | 48,685 NS | April 30, 2026 | N-PORT |
| SCHA · SCHWAB STRATEGIC TRUST | 0.07% | 567,694 NS | May 31, 2026 | N-PORT |
| VHT · VANGUARD WORLD FUND | 0.06% | 318,231 SH | Aug. 19, 2026 | Daily |
| DFAS · Dimensional ETF Trust | 0.06% | 371,585 NS | April 30, 2026 | N-PORT |