U Unity Software Inc. Common Stock
$43.71
Price · Aug 28, 2026
Fundamentals as of Aug 6, 2026
52W Range
$17–$52
76% of range
Analyst Rating
BUY
35 analysts
Price Target
$49
+12% upside
P/E (TTM)
-45.9
ROE
-12.5%
Net Profit Margin
-21.8%
U Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$43.71
Market Cap
$19.08B
P/E (TTM)
-45.9
EPS (TTM)
$-0.96
Revenue (TTM)
$1.85B
Div Yield
—
ROE
-12.5%
Debt/Equity
—
52W Range
$17 – $52
U 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
$1.85B
2018-12-31
→
2025-12-31
EPS
$-0.96
2019-12-31
→
2025-12-31
Free Cash Flow
$404M
2020-12-31
→
2025-12-31
Margins
-21.8%
2020-12-31
→
2025-12-31
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Metric
5Y trend
U
Peer Median
P/E (TTM)
-45.9
53.3
P/S (TTM)
10.3
7.8
P/B
5.9
8.5
Price / FCF
47.2
—
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Metric
5Y trend
U
Peer Median
Gross Margin
74.2%
79.5%
Operating Margin
-25.9%
—
Net Profit Margin
-21.8%
14.8%
ROA
-5.9%
7.7%
ROE
-12.5%
13.2%
ROIC
-15.0%
—
Financial Health Debt, liquidity, solvency — balance sheet strength
Metric
5Y trend
U
Peer Median
Current Ratio
1.8
1.7
Quick Ratio
1.8
—
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Metric
5Y trend
U
Peer Median
Revenue YoY
2.0%
—
Revenue CAGR 3Y
10.0%
—
Revenue CAGR 5Y
19.1%
—
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
Metric
5Y trend
U
Peer Median
U Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
BUY
35 analysts
- Strong Buy 9 25.7%
- Buy 16 45.7%
- Hold 10 28.6%
- Sell 0 0.0%
- Strong Sell 0 0.0%
12-Month Price Target
24 analysts · 2026-08-24
Median
$50.00
Now
$43.71
Low
$35.00
High
$55.00
Median target
$50.00
+14.4%
Mean target
$49.10
+12.3%
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 | $-0.05 | $-0.09 | 0.04% |
| March 31, 2026 | $-0.16 | $-0.24 | 0.08% |
| Dec. 31, 2025 | $-0.21 | $-0.24 | 0.03% |
| Sept. 30, 2025 | $-0.30 | $-0.24 | -0.06% |
| June 30, 2025 | $-0.26 | $-0.27 | 0.01% |
| March 31, 2025 | $-0.19 | $-0.36 | 0.17% |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| U | $19.12B | -46.0 | 2.0% | -21.8% | -12.5% | 74.2% |
| ZM | — | 14.9 | 4.4% | 39.0% | 20.3% | 77.0% |
| FICO | $35.56B | 56.4 | 15.9% | 32.8% | -45.4% | — |
| IOT | $16.29B | -1402.5 | 29.6% | -0.56% | -0.69% | 76.7% |
| CRCL | — | -180.2 | 63.9% | — | — | — |
| NTNX | $20.22B | 115.6 | 18.1% | 7.4% | -25.1% | 86.8% |
| PTC | $24.27B | 33.4 | 19.2% | 26.8% | 20.3% | 83.8% |
| GWRE | $19.12B | 279.3 | 22.6% | 5.8% | 5.1% | 62.5% |
| FIG | $19.17B | -10.1 | 41.0% | -118.4% | -85.1% | 82.4% |
| DT | $10.90B | 68.5 | 18.8% | 8.1% | 6.0% | 81.6% |
| TYL | $21.86B | 63.0 | 9.1% | 13.5% | 8.6% | 46.5% |
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 | $1.85B | $1.81B | $2.19B | $1.39B | $1.11B | $772M | $542M | $381M | |
| Cost of Revenue | $478M | $481M | $734M | $442M | $254M | $172M | $119M | $81M | |
| Gross Profit | $1.37B | $1.33B | $1.45B | $949M | $857M | $600M | $423M | $299M | |
| R&D Expense | $930M | $925M | $1.05B | $959M | $696M | $404M | $256M | $204M | |
| SG&A Expense | $269M | $410M | $398M | $373M | $348M | $255M | $144M | $91M | |
| Operating Expenses | $1.85B | $2.09B | $2.29B | $1.83B | $1.39B | $875M | $574M | $430M | |
| Operating Income | $-479M | $-755M | $-833M | $-882M | $-532M | $-275M | $-151M | $-130M | |
| Interest Expense | · | · | $25M | $7M | $1M | $2M | $0 | $0 | |
| Other Non-op | $108M | $112M | $60M | $7M | $2M | $-4M | $-3M | $-2M | |
| Pretax Income | $-395M | $-667M | $-798M | $-882M | $-531M | $-280M | $-153M | $-133M | |
| Income Tax | $6M | $-3M | $28M | $37M | $1M | $2M | $10M | $-1M | |
| Net Income | $-403M | $-664M | $-822M | $-921M | $-533M | $-282M | $-163M | $-132M | |
| EPS (Basic) | $-0.96 | $-1.68 | $-2.16 | $-2.96 | $-1.89 | $-1.66 | $-2.39 | · | |
| EPS (Diluted) | $-0.96 | $-1.68 | $-2.16 | $-2.96 | $-1.89 | $-1.66 | $-2.39 | · | |
| Shares (Basic) | 420,914,000 | 395,951,000 | 380,457,000 | 310,504,000 | 282,195,000 | 169,973,000 | 114,442,000 | · | |
| Shares (Diluted) | 420,914,000 | 395,951,000 | 380,457,000 | 310,504,000 | 282,195,000 | 169,973,000 | 114,442,000 | · | |
| EBITDA | $-18M | $-346M | $-269M | $-671M | $-467M | $-232M | · | · |
Balance Sheet 26
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $2.06B | $1.52B | $1.59B | $1.49B | $1.06B | $1.27B | $130M | $259M | |
| Short-term Investments | · | · | · | $102M | $681M | · | · | · | |
| Receivables | $644M | $574M | $612M | $634M | $340M | $274M | $205M | · | |
| Prepaid Expense | $113M | $134M | $123M | $144M | $74M | $32M | $23M | · | |
| Other Current Assets | · | · | · | · | $34M | $22M | $9M | · | |
| Current Assets | $2.81B | $2.23B | $2.32B | $2.36B | $2.15B | $2.08B | $367M | · | |
| PP&E (Net) | $68M | $99M | $141M | $122M | $106M | $96M | $79M | · | |
| PP&E (Gross) | $241M | $269M | $285M | $245M | $204M | $166M | $127M | · | |
| Accum. Depreciation | $173M | $170M | $144M | $124M | $98M | $70M | $48M | · | |
| Goodwill | $3.17B | $3.17B | $3.20B | $3.20B | $1.62B | $286M | $218M | $45M | |
| Intangibles | $651M | $1.07B | $1.41B | $1.92B | $814M | $57M | $62M | · | |
| Other Non-current Assets | $140M | $181M | $205M | $224M | $150M | $26M | $19M | · | |
| Total Assets | $6.84B | $6.74B | $7.24B | $7.83B | $4.84B | $2.67B | $763M | · | |
| Accounts Payable | $14M | $14M | $15M | $20M | $14M | $11M | $11M | · | |
| Accrued Liabilities | $123M | $124M | $126M | $107M | $85M | $54M | $36M | · | |
| Current Liabilities | $1.53B | $889M | $894M | $1.01B | $626M | $503M | $337M | · | |
| Capital Leases | $61M | $81M | $112M | $108M | $93M | $99M | $0 | · | |
| Other Non-current Liabilities | $123M | $165M | $217M | $259M | $102M | $12M | $22M | · | |
| Total Liabilities | $3.34B | $3.31B | $3.83B | $4.08B | $2.45B | $634M | $369M | · | |
| Common Stock | $2.0K | $2.0K | $2.0K | $2.0K | $2.0K | $2.0K | $1.0K | · | |
| Paid-in Capital | $7.38B | $6.94B | $6.26B | $5.78B | $3.73B | $2.84B | $226M | · | |
| Retained Earnings | $-4.14B | $-3.74B | $-3.07B | $-2.25B | $-1.33B | $-797M | $-515M | · | |
| AOCI | $-2M | $-9M | $-5M | $-2M | $-4M | $-3M | $-4M | · | |
| Stockholders' Equity | $3.24B | $3.19B | $3.18B | $3.53B | $2.39B | $2.04B | $394M | $316M | |
| Liabilities + Equity | $6.84B | $6.74B | $7.24B | $7.83B | $4.84B | $2.67B | $763M | · | |
| Shares Outstanding | 432,860,000 | 409,392,524 | 384,871,561 | 374,243,196 | 292,592,356 | 273,537,218 | 123,261,024 | · |
Cash Flow 16
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
| D&A | $461M | $409M | $564M | $212M | $65M | $43M | $31M | $21M | |
| Stock-based Comp | $385M | $596M | $649M | $550M | $347M | $135M | $31M | $21M | |
| Deferred Tax | $-22M | $-26M | $-5M | $-3M | $-12M | $-3M | $-5M | $-3M | |
| Amort. of Intangibles | $419M | $353M | $515M | $173M | $33M | $18M | $12M | $4M | |
| Other Non-cash | $2M | $117.0K | $-151M | $103M | $34M | $127M | · | · | |
| Operating Cash Flow | $423M | $316M | $235M | $-59M | $-111M | $20M | $-68M | $-81M | |
| CapEx | $19M | $30M | $56M | $57M | $42M | $40M | $27M | $38M | |
| Investing Cash Flow | $-24M | $-42M | $44M | $723M | $-1.84B | $-575M | $-220M | $-40M | |
| Stock Issued | · | · | · | $0 | $0 | $100M | $460M | $0 | |
| Stock Repurchased | $0 | $0 | $250M | $1.50B | $0 | $110.0K | $286M | $0 | |
| Net Stock Activity | $0 | $0 | $-250M | $-1.50B | $0 | $100M | · | · | |
| Financing Cash Flow | $110M | $-338M | $-174M | $-227M | $1.72B | $1.70B | $161M | $148M | |
| Net Change in Cash | $536M | $-76M | $99M | $439M | $-227M | $1.15B | $-126M | $27M | |
| Taxes Paid | $11M | $26M | $22M | $25M | $6M | $20M | $1M | $3M | |
| Free Cash Flow | $404M | $286M | $179M | $-117M | $-153M | $-20M | · | · | |
| Levered FCF | · | · | $153M | $-124M | $-155M | $-22M | · | · |
Profitability 8
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 74.2% | 73.5% | 66.5% | 68.2% | 77.2% | 77.7% | · | · | |
| Operating Margin | -25.9% | -41.6% | -38.1% | -63.4% | -47.9% | -35.6% | · | · | |
| Net Margin | -21.8% | -36.6% | -37.6% | -66.2% | -48.0% | -36.5% | · | · | |
| Pretax Margin | -21.4% | -36.8% | -36.5% | -63.4% | -47.8% | -36.3% | · | · | |
| EBITDA Margin | -0.98% | -19.1% | -12.3% | -48.2% | -42.1% | -30.0% | · | · | |
| ROA | -5.9% | -9.5% | -10.9% | -14.5% | -14.2% | -16.4% | · | · | |
| ROE | -12.5% | -20.8% | -24.5% | -31.3% | -24.4% | -13.8% | · | · | |
| ROIC | -15.0% | -23.6% | -27.1% | -26.1% | -22.3% | -13.6% | · | · |
Liquidity & Solvency 3
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.8 | 2.5 | 2.6 | 2.3 | 3.4 | 4.1 | · | · | |
| Quick Ratio | 1.8 | 2.4 | 2.5 | 2.2 | 2.2 | 3.1 | · | · | |
| Interest Coverage | · | · | -33.9 | -119.2 | -470.1 | -180.8 | · | · |
Efficiency 2
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.3 | 0.3 | 0.3 | 0.2 | 0.3 | 0.4 | · | · | |
| Receivables Turnover | 3.0 | 3.1 | 3.5 | 2.9 | 3.6 | 3.2 | · | · |
Growth Rates 3
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue YoY | 2.0% | -17.1% | 57.2% | 25.3% | 43.8% | · | · | · | |
| Revenue CAGR 3Y | 10.0% | 17.8% | 41.5% | · | · | · | · | · | |
| Revenue CAGR 5Y | 19.1% | · | · | · | · | · | · | · |
Valuation (TTM) 10
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $1.85B | $1.81B | $2.19B | $1.39B | $1.11B | $772M | · | · | |
| Net Income TTM | $-403M | $-664M | $-822M | $-921M | $-533M | $-282M | · | · | |
| Market Cap | $19.12B | $9.20B | $15.74B | $10.70B | $41.84B | $41.98B | · | · | |
| P/E | -46.0 | -13.4 | -18.9 | -9.7 | -75.7 | -92.5 | · | · | |
| P/S | 10.3 | 5.1 | 7.2 | 7.7 | 37.7 | 54.3 | · | · | |
| P/B | 5.9 | 2.9 | 4.9 | 3.0 | 17.5 | 20.6 | · | · | |
| P / Tangible Book | · | · | · | · | · | 24.8 | · | · | |
| P / Cash Flow | 45.2 | 29.2 | 67.1 | -180.0 | -375.4 | 2108.2 | · | · | |
| P / FCF | 47.3 | 32.2 | 88.0 | -91.8 | -272.8 | -2073.8 | · | · | |
| Earnings Yield | -2.2% | -7.5% | -5.3% | -10.3% | -1.3% | -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 | $546M | $508M | $503M | $471M | $441M | $435M | $457M | $447M | $449M | $460M | $609M | $544M | $533M | $500M | $451M | $323M | |
| Cost of Revenue | $112M | $352M | $129M | $120M | $114M | $114M | $116M | $112M | $109M | $144M | $262M | $151M | $159M | $162M | $140M | $112M | |
| Gross Profit | $435M | $157M | $374M | $350M | $327M | $321M | $342M | $334M | $340M | $316M | $348M | $393M | $375M | $338M | $311M | $211M | |
| R&D Expense | $278M | $254M | $250M | $244M | $215M | $221M | $218M | $215M | $209M | $283M | $265M | $240M | $268M | $280M | $274M | $248M | |
| SG&A Expense | $56M | $58M | $67M | $66M | $69M | $66M | $71M | $70M | $91M | $178M | $126M | $86M | $89M | $97M | $127M | $93M | |
| Operating Expenses | $467M | $508M | $480M | $476M | $445M | $449M | $465M | $462M | $470M | $691M | $607M | $520M | $566M | $593M | $585M | $451M | |
| Operating Income | $-32M | $-351M | $-107M | $-126M | $-119M | $-128M | $-124M | $-127M | $-129M | $-375M | $-259M | $-127M | $-191M | $-255M | $-274M | $-240M | |
| Interest Expense | · | · | · | · | · | · | · | · | · | $6M | · | $6M | $6M | $6M | · | $1M | |
| Other Non-op | $18M | $3M | $15M | $14M | $20M | $58M | $9M | $15M | $10M | $77M | $21M | $16M | $9M | $14M | $7M | $2M | |
| Pretax Income | $-20M | $-354M | $-97M | $-117M | $-105M | $-76M | $-120M | $-118M | $-125M | $-304M | $-244M | $-118M | $-189M | $-247M | $-271M | $-239M | |
| Income Tax | $2M | $-7M | $-8M | $9M | $2M | $2M | $2M | $7M | $946.0K | $-13M | $10M | $8M | $5M | $6M | $17M | $11M | |
| Net Income | $-24M | $-348M | $-90M | $-126M | $-109M | $-78M | $-123M | $-125M | $-126M | $-291M | $-253M | $-124M | $-192M | $-253M | $-289M | $-250M | |
| EPS (Basic) | $-0.05 | $-0.80 | $-0.21 | $-0.30 | $-0.26 | $-0.19 | $-0.30 | $-0.31 | $-0.32 | $-0.75 | $-0.66 | $-0.32 | $-0.51 | $-0.67 | $-0.83 | $-0.84 | |
| EPS (Diluted) | $-0.05 | $-0.80 | $-0.21 | $-0.30 | $-0.26 | $-0.19 | $-0.30 | $-0.31 | $-0.32 | $-0.75 | $-0.66 | $-0.32 | $-0.51 | $-0.67 | $-0.83 | $-0.84 | |
| Shares (Basic) | 437,898,000 | 434,255,000 | -832,800,000 | 424,296,000 | 417,566,000 | 411,852,000 | -782,547,000 | 398,810,000 | 392,537,000 | 387,151,000 | -759,481,000 | 383,674,000 | 380,355,000 | 375,909,000 | -579,748,000 | 299,062,000 | |
| Shares (Diluted) | 437,898,000 | 434,255,000 | -832,800,000 | 424,296,000 | 417,566,000 | 411,852,000 | -782,547,000 | 398,810,000 | 392,537,000 | 387,151,000 | -759,481,000 | 383,674,000 | 380,355,000 | 375,909,000 | -579,748,000 | 299,062,000 | |
| EBITDA | $-32M | $-224M | · | $-126M | $-119M | $-32M | · | $-127M | $-129M | $-273M | · | $-127M | $-191M | $-145M | · | $-240M |
Balance Sheet 24
| 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 | $2.35B | $2.14B | $2.06B | $1.90B | $1.69B | $1.54B | $1.52B | $1.41B | $1.27B | $1.18B | · | $1.51B | $1.64B | $1.59B | · | $1.24B | |
| Receivables | $689M | $654M | $644M | $600M | $597M | $553M | $574M | $576M | $573M | $621M | · | $605M | $632M | $613M | · | $316M | |
| Prepaid Expense | $84M | $128M | $113M | $124M | $120M | $145M | $134M | $135M | $143M | $140M | · | $121M | $121M | $137M | · | $82M | |
| Current Assets | $3.18B | $2.92B | $2.81B | $2.62B | $2.41B | $2.24B | $2.23B | $2.12B | $1.98B | $1.94B | · | $2.23B | $2.39B | $2.34B | · | $2.08B | |
| PP&E (Net) | $50M | $54M | $68M | $77M | $82M | $90M | $99M | $108M | $112M | $123M | · | $141M | $135M | $129M | · | $112M | |
| PP&E (Gross) | · | · | $241M | · | · | · | $269M | · | · | · | · | · | · | · | · | · | |
| Accum. Depreciation | · | · | $173M | · | · | · | $170M | · | · | · | · | · | · | · | · | · | |
| Goodwill | $3.16B | $3.17B | $3.17B | $3.17B | $3.17B | $3.17B | $3.17B | $3.17B | $3.17B | $3.17B | $3.20B | $3.20B | $3.20B | $3.20B | $3.20B | $1.66B | |
| Intangibles | $163M | $263M | $651M | $769M | $894M | $981M | $1.07B | $1.15B | $1.23B | $1.32B | · | $1.63B | $1.73B | $1.82B | · | $725M | |
| Other Non-current Assets | $112M | $115M | $140M | $149M | $166M | $170M | $181M | $180M | $191M | $204M | · | $224M | $231M | $237M | · | $148M | |
| Total Assets | $6.66B | $6.52B | $6.84B | $6.78B | $6.72B | $6.65B | $6.74B | $6.73B | $6.68B | $6.75B | · | $7.43B | $7.69B | $7.73B | · | $4.73B | |
| Accounts Payable | $10M | $9M | $14M | $20M | $12M | $17M | $14M | $15M | $13M | $19M | · | $22M | $19M | $28M | · | $14M | |
| Accrued Liabilities | · | · | $123M | · | · | · | $124M | · | · | · | · | · | · | · | · | · | |
| Current Liabilities | $1.57B | $1.50B | $1.53B | $942M | $883M | $818M | $889M | $877M | $842M | $902M | · | $950M | $975M | $980M | · | $612M | |
| Capital Leases | $53M | $54M | $61M | $66M | $76M | $75M | $81M | $85M | $91M | $99M | · | $111M | $123M | $122M | · | $81M | |
| Other Non-current Liabilities | $84M | $83M | $123M | $135M | $150M | $155M | $165M | $167M | $178M | $191M | · | $234M | $256M | $264M | · | $88M | |
| Total Liabilities | $3.35B | $3.28B | $3.34B | $3.33B | $3.28B | $3.22B | $3.31B | $3.30B | $3.27B | $3.34B | · | $3.96B | $4.02B | $4.04B | · | $2.52B | |
| 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 | |
| Paid-in Capital | $7.54B | $7.46B | $7.38B | $7.26B | $7.12B | $7.01B | $6.94B | $6.80B | $6.68B | $6.55B | · | $6.07B | $6.15B | $5.96B | · | $4.18B | |
| Retained Earnings | $-4.51B | $-4.49B | $-4.14B | $-4.05B | $-3.92B | $-3.81B | $-3.74B | $-3.61B | $-3.49B | $-3.36B | · | $-2.82B | $-2.70B | $-2.50B | · | $-1.96B | |
| AOCI | $3M | $257.0K | $-2M | $-5M | $-6M | $-9M | $-9M | $-3M | $-9M | $-8M | · | $-10M | $-9M | $490.0K | · | $-14M | |
| Stockholders' Equity | $3.03B | $2.98B | $3.24B | $3.20B | $3.19B | $3.19B | $3.19B | $3.18B | $3.18B | $3.18B | · | $3.24B | $3.45B | $3.46B | · | $2.20B | |
| Liabilities + Equity | $6.66B | $6.52B | $6.84B | $6.78B | $6.72B | $6.65B | $6.74B | $6.73B | $6.68B | $6.75B | · | $7.43B | $7.69B | $7.73B | · | $4.73B | |
| Shares Outstanding | 439,987,000 | 436,401,000 | 432,860,000 | 427,778,000 | 420,441,000 | 415,406,000 | 409,393,000 | 402,578,000 | 395,444,000 | 390,397,000 | 384,871,561 | 379,720,000 | 383,291,000 | 378,374,000 | 374,243,196 | 300,588,000 |
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 | $85M | $127M | $132M | $136M | $97M | $96M | $103M | $103M | $101M | $102M | $232M | $111M | $111M | $110M | $84M | $43M | |
| Stock-based Comp | $80M | $77M | $93M | $92M | $102M | $99M | $110M | $105M | $115M | $266M | $181M | $147M | $158M | $163M | $174M | $154M | |
| Other Non-cash | · | $214M | · | · | · | $-104M | · | · | · | $-84M | · | · | · | $-25M | · | · | |
| Operating Cash Flow | $206M | $71M | $121M | $155M | $133M | $13M | $112M | $122M | $88M | $-7M | $72M | $120M | $48M | $-5M | $-49M | $-69M | |
| CapEx | $4M | $5M | $3M | $4M | $6M | $6M | $6M | $7M | $9M | $7M | $11M | $16M | $14M | $14M | $15M | $12M | |
| Investing Cash Flow | $-4M | $-5M | $-6M | $-4M | $-8M | $-6M | $-6M | $-20M | $-9M | $-7M | $-11M | $-18M | $-15M | $88M | $582M | $131M | |
| Stock Repurchased | · | · | · | · | · | · | $0 | · | · | · | $0 | · | · | · | $1.50B | · | |
| Financing Cash Flow | $5M | $12M | $34M | $54M | $10M | $12M | $19M | $20M | $11M | $-389M | $11M | $-227M | $20M | $22M | $-283M | $19M | |
| Net Change in Cash | $211M | $82M | $155M | $208M | $150M | $24M | $112M | $134M | $87M | $-410M | $83M | $-134M | $41M | $108M | $256M | $77M | |
| Taxes Paid | $3M | $6M | $4M | $10M | $-1M | $-2M | $7M | $3M | $5M | $11M | $7M | $10M | $2M | $4M | $3M | $16M | |
| Free Cash Flow | · | $66M | · | · | · | $7M | · | · | · | $-15M | · | · | · | $-19M | · | · | |
| Levered FCF | · | · | · | · | · | · | · | · | · | $-20M | · | · | · | $-26M | · | · |
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 | 79.6% | 30.8% | · | 74.4% | 74.1% | 73.8% | · | 74.9% | 75.8% | 68.6% | · | 72.2% | 70.2% | 67.6% | · | 65.3% | |
| Operating Margin | -5.9% | -69.1% | · | -26.7% | -26.9% | -29.4% | · | -28.5% | -28.8% | -81.4% | · | -23.4% | -35.9% | -51.0% | · | -74.2% | |
| Net Margin | -4.3% | -68.4% | · | -26.9% | -24.7% | -17.8% | · | -27.9% | -28.0% | -63.2% | · | -22.8% | -36.0% | -50.6% | · | -77.4% | |
| Pretax Margin | -3.7% | -69.7% | · | -25.0% | -23.8% | -17.4% | · | -26.4% | -27.8% | -66.1% | · | -21.6% | -35.3% | -49.5% | · | -73.9% | |
| EBITDA Margin | -5.9% | -44.1% | · | -26.7% | -26.9% | -7.3% | · | -28.5% | -28.8% | -59.3% | · | -23.4% | -35.9% | -29.1% | · | -74.2% | |
| ROA | -0.35% | -5.3% | · | -1.9% | -1.6% | -1.2% | · | -1.8% | -1.8% | -4.0% | · | -2.0% | -3.1% | -4.0% | · | -6.8% | |
| ROE | -0.76% | -11.3% | · | -4.0% | -3.4% | -2.4% | · | -3.9% | -3.8% | -8.8% | · | -4.6% | -6.7% | -8.7% | · | -12.0% | |
| ROIC | -1.2% | -11.6% | · | -4.2% | -3.8% | -4.1% | · | -4.2% | -4.1% | -11.3% | · | -4.2% | -5.7% | -7.5% | · | -11.4% |
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 | 2.0 | 1.9 | · | 2.8 | 2.7 | 2.7 | · | 2.4 | 2.4 | 2.2 | · | 2.3 | 2.5 | 2.4 | · | 3.4 | |
| Quick Ratio | 1.9 | 1.9 | · | 2.7 | 2.6 | 2.6 | · | 2.3 | 2.2 | 2.0 | · | 2.2 | 2.3 | 2.3 | · | 2.5 | |
| Interest Coverage | · | · | · | · | · | · | · | · | · | -62.1 | · | -20.7 | -31.2 | -41.6 | · | -211.1 |
Efficiency 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | |
| Receivables Turnover | 0.9 | 0.8 | · | 0.8 | 0.8 | 0.7 | · | 0.8 | 0.7 | 0.7 | · | 1.2 | 1.1 | 1.1 | · | 1.0 |
Valuation (TTM) 9
| 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 | $1.97B | $1.85B | · | $1.79B | $1.77B | $1.79B | · | $1.90B | $1.99B | $2.04B | · | $1.90B | $1.65B | $1.44B | · | $1.23B | |
| Net Income TTM | $-606M | $-660M | · | $-438M | $-437M | $-619M | · | $-665M | $-733M | $-860M | · | $-819M | $-899M | $-885M | · | $-747M | |
| Market Cap | $12.57B | $9.57B | · | $17.13B | $10.17B | $8.14B | · | $9.11B | $6.43B | $10.42B | · | $11.92B | $16.64B | $12.27B | · | $9.58B | |
| P/E | -20.3 | -14.2 | · | -37.8 | -22.4 | -12.5 | · | -13.3 | -8.6 | -11.9 | · | -13.4 | -16.0 | -11.6 | · | -12.5 | |
| P/S | 6.4 | 5.2 | · | 9.6 | 5.7 | 4.5 | · | 4.8 | 3.2 | 5.1 | · | 6.3 | 10.1 | 8.5 | · | 7.8 | |
| P/B | 4.1 | 3.2 | · | 5.3 | 3.2 | 2.6 | · | 2.9 | 2.0 | 3.3 | · | 3.7 | 4.8 | 3.5 | · | 4.3 | |
| P / Cash Flow | · | 134.3 | · | · | · | 624.7 | · | · | · | -1413.8 | · | · | · | -2407.2 | · | · | |
| P / FCF | · | 144.1 | · | · | · | 1113.5 | · | · | · | -715.8 | · | · | · | -631.1 | · | · | |
| Earnings Yield | -4.9% | -7.1% | · | -2.6% | -4.5% | -8.0% | · | -7.5% | -11.7% | -8.4% | · | -7.4% | -6.2% | -8.6% | · | -8.0% |
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 | $1.85B | $1.81B | $2.19B | $1.39B | $1.11B |
| Gross Margin % | 74.2% | 73.5% | 66.5% | 68.2% | 77.2% |
| Operating Margin % | -25.9% | -41.6% | -38.1% | -63.4% | -47.9% |
| Net Income | $-403M | $-664M | $-822M | $-921M | $-533M |
| Diluted EPS | $-0.96 | $-1.68 | $-2.16 | $-2.96 | $-1.89 |
Balance Sheet
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Current Ratio | 1.8 | 2.5 | 2.6 | 2.3 | 3.4 |
| Quick Ratio | 1.8 | 2.4 | 2.5 | 2.2 | 2.2 |
Cash Flow
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Free Cash Flow | $404M | $286M | $179M | $-117M | $-153M |
Latest News Recent headlines mentioning this company
- Canadian Stocks Advance Even As Trade War With U.S. Escalates
- Bitcoin's Correlation With Gold Is Suddenly on the Upswing. Are Investors About to See the Return of Bitcoin as "Digital Gold"?
- Treasuries See Further Upside As Crude Oil Prices Extend Nosedive
- Trump announces new 50% tariff on Canadian cars, trucks and steel
- Trump says U.S. will hike Canada auto tariffs to 50% as trade war escalates
- Stock Market Today (Aug. 24, 2026): Nasdaq slides on Iran sanctions, U.S.-Canada tariff threats
- Alibaba Stock Falls As AI Push Drives $10 Billion Share Sale
- AI Trade in Focus as Nvidia Earnings and Iran Sanctions Keep Markets on Edge: Dow Jones, S&P, Nasdaq, Wall Street Futures
- One of Social Security's Most Important Dates Is Less Than 2 Months Away. Here's What Retirees Can Expect.
- Stephen Mandel’s Lone Pine and Whale Rock Piled Into This Little Known AI Stock
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) 633 filers · $9.6B 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 |
|---|---|---|---|---|
| 114 (-20 vs prior Q) | 71 (-96 vs prior Q) | 203 (-13 vs prior Q) | 186 (+24 vs prior Q) | +5.6M |
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 |
|---|---|---|---|---|
| Silver Lake Group, L.L.C. | $992,737,846 | 34,735,404 | 10.37% | Shares |
| SC US (TTGP), LTD. | $909,556,328 | 31,824,924 | 9.50% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $584,939,372 | 20,466,738 | 6.11% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $491,735,219 | 17,205,571 | 5.14% | Shares |
| Slate Path Capital LP | $459,427,844 | 16,075,152 | 4.80% | Shares |
| Atreides Management, LP | $292,825,507 | 10,245,819 | 3.06% | Shares |
| STATE STREET CORP | $194,827,002 | 6,816,900 | 2.04% | Shares |
| Point72 Asset Management, L.P. | $194,513,251 | 6,805,922 | 2.03% | Shares |
| TWO SIGMA INVESTMENTS, LP | $192,940,722 | 6,750,900 | 2.02% | Shares |
| CITADEL ADVISORS LLC | $188,519,396 | 6,596,200 | 1.97% | Call option |
| NORGES BANK | $162,475,614 | 5,684,941 | 1.70% | Shares |
| Capital World Investors | $160,475,180 | 5,614,947 | 1.68% | Shares |
| FMR LLC | $155,490,547 | 5,440,537 | 1.62% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $151,210,853 | 5,289,092 | 1.58% | Shares |
| Resolute Advisors LLC | $136,218,539 | 4,766,219 | 1.42% | Shares |
| Hood River Capital Management LLC | $135,361,053 | 4,736,216 | 1.41% | Shares |
| Temasek Holdings (Private) Ltd | $130,977,653 | 4,582,843 | 1.37% | Shares |
| MILLENNIUM MANAGEMENT LLC | $130,082,413 | 4,551,519 | 1.36% | Shares |
| WELLINGTON MANAGEMENT GROUP LLP | $128,272,356 | 4,488,186 | 1.34% | Shares |
| Capital Research Global Investors | $126,210,158 | 4,416,031 | 1.32% | Shares |
| INFINITUM ASSET MANAGEMENT, LLC | $121,465,000 | 4,250,000 | 1.27% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $121,230,644 | 4,241,800 | 1.27% | Put option |
| CITADEL ADVISORS LLC | $118,201,164 | 4,135,800 | 1.24% | Put option |
| DIMENSIONAL FUND ADVISORS LP | $117,270,899 | 4,103,251 | 1.23% | Shares |
| AMERIPRISE FINANCIAL INC | $117,040,353 | 4,094,442 | 1.22% | Shares |
| Holocene Advisors, LP | $106,303,567 | 3,719,509 | 1.11% | Shares |
| UBS Group AG | $105,444,024 | 3,689,434 | 1.10% | Call option |
| JANE STREET GROUP, LLC | $103,276,688 | 3,613,600 | 1.08% | Put option |
| D1 Capital Partners L.P. | $102,101,278 | 3,572,473 | 1.07% | Shares |
| GOLDMAN SACHS GROUP INC | $95,986,616 | 3,358,524 | 1.00% | Shares |
| Nearwater Capital Markets, Ltd | $82,338,980 | 2,881,000 | 0.86% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $77,692,987 | 2,718,439 | 0.81% | Shares |
| JANE STREET GROUP, LLC | $76,888,774 | 2,690,300 | 0.80% | Call option |
| Broad Peak Investment Advisers Pte Ltd | $75,530,224 | 2,642,765 | 0.79% | Shares |
| Kora Management LP | $72,356,758 | 2,531,727 | 0.76% | Shares |
| Temasek Holdings (Private) Ltd | $72,301,684 | 2,529,800 | 0.76% | Put option |
| D. E. Shaw & Co., Inc. | $66,823,555 | 2,338,123 | 0.70% | Shares |
| JANE STREET GROUP, LLC | $65,914,597 | 2,306,319 | 0.69% | Shares |
| Balyasny Asset Management L.P. | $64,418,720 | 2,253,979 | 0.67% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $64,247,526 | 2,247,989 | 0.67% | Shares |
| Avala Global LP | $62,521,751 | 2,187,605 | 0.65% | Shares |
| WOLVERINE TRADING, LLC | $51,201,656 | 1,192,400 | 0.54% | Call option |
| Schonfeld Strategic Advisors LLC | $47,814,081 | 1,672,991 | 0.50% | Shares |
| RENAISSANCE TECHNOLOGIES LLC | $43,650,148 | 1,527,297 | 0.46% | Shares |
| Flight Deck Capital, LP | $40,009,142 | 1,399,900 | 0.42% | Shares |
| Woodline Partners LP | $34,551,905 | 1,208,954 | 0.36% | Shares |
| BNP PARIBAS FINANCIAL MARKETS | $34,492,402 | 1,206,872 | 0.36% | Shares |
| PEAK6 LLC | $33,913,028 | 1,186,600 | 0.35% | Put option |
| No Street GP LP | $33,282,239 | 1,164,529 | 0.35% | Shares |
| Walleye Trading LLC | $29,934,692 | 1,047,400 | 0.31% | Call option |
| PEAK6 LLC | $28,885,806 | 1,010,700 | 0.30% | Call option |
| Sumitomo Mitsui Trust Group, Inc. | $28,797,179 | 1,007,599 | 0.30% | Shares |
| Amova Asset Management Americas, Inc. | $28,716,709 | 1,005,487 | 0.30% | Shares |
| Apis Capital Advisors, LLC | $28,580,000 | 1,000,000 | 0.30% | Shares |
| VAUGHAN NELSON INVESTMENT MANAGEMENT, L.P. | $28,239,469 | 988,085 | 0.30% | Shares |
| Point72 Asset Management, L.P. | $26,939,508 | 942,600 | 0.28% | Put option |
| BANK OF AMERICA CORP /DE/ | $25,184,096 | 881,179 | 0.26% | Shares |
| MARSICO CAPITAL MANAGEMENT LLC | $25,019,789 | 875,430 | 0.26% | Shares |
| WOLVERINE TRADING, LLC | $25,016,844 | 582,600 | 0.26% | Put option |
| D. E. Shaw & Co., Inc. | $22,981,178 | 804,100 | 0.24% | Put option |
| Cubist Systematic Strategies, LLC | $22,827,200 | 570,110 | 0.24% | Shares |
| Jasper Ridge Partners, L.P. | $22,162,161 | 775,443 | 0.23% | Shares |
| Point72 Asset Management, L.P. | $21,843,694 | 764,300 | 0.23% | Call option |
| Qube Research & Technologies Ltd | $21,518,539 | 752,923 | 0.22% | Shares |
| Arvin Capital Management LP | $19,956,842 | 698,280 | 0.21% | Shares |
| CYPRESS POINT INVESTMENT MANAGEMENT LP | $19,722,201 | 690,070 | 0.21% | Shares |
| Swiss National Bank | $19,391,530 | 678,500 | 0.20% | Shares |
| WORLDQUANT MILLENNIUM ADVISORS LLC | $19,112,875 | 668,750 | 0.20% | Shares |
| STEADFAST CAPITAL MANAGEMENT LP | $18,988,552 | 664,400 | 0.20% | Shares |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | $18,705,153 | 654,484 | 0.20% | Shares |
| 683 Capital Management, LLC | $17,576,700 | 615,000 | 0.18% | Shares |
| KR Capital LP | $17,563,125 | 614,525 | 0.18% | Shares |
| BlackRock, Inc. | $17,441,288 | 610,262 | 0.18% | Shares |
| Temasek Holdings (Private) Ltd | $16,810,756 | 588,200 | 0.18% | Call option |
| Optimus Prime Fund Management Co., Ltd. | $16,733,590 | 585,500 | 0.17% | Shares |
| CITADEL ADVISORS LLC | $15,988,652 | 559,435 | 0.17% | Shares |
| EMINENCE CAPITAL, LP | $15,901,717 | 724,782 | 0.17% | Shares |
| TWO SIGMA ADVISERS, LP | $15,472,751 | 350,300 | 0.16% | Shares |
| Arohi Asset Management PTE Ltd. | $14,900,469 | 521,360 | 0.16% | Shares |
| Jain Global LLC | $14,522,213 | 508,125 | 0.15% | Shares |
| TUDOR INVESTMENT CORP ET AL | $14,484,344 | 506,800 | 0.15% | Put option |
| Ardmore Road Asset Management LP | $14,290,000 | 500,000 | 0.15% | Shares |
| California Public Employees Retirement System | $14,122,064 | 494,124 | 0.15% | Shares |
| Quantinno Capital Management LP | $13,981,684 | 489,212 | 0.15% | Shares |
| Cubist Systematic Strategies, LLC | $13,069,056 | 326,400 | 0.14% | Call option |
| WHITTIER TRUST CO | $12,221,345 | 412,187 | 0.13% | Shares |
| Gotham Asset Management, LLC | $11,551,064 | 404,166 | 0.12% | Shares |
| VOLORIDGE INVESTMENT MANAGEMENT, LLC | $11,521,055 | 403,116 | 0.12% | Shares |
| VAN ECK ASSOCIATES CORP | $11,497,620 | 402,296 | 0.12% | Shares |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM | $11,202,931 | 391,985 | 0.12% | Shares |
| Hidden Lake Asset Management LP | $11,043,112 | 386,393 | 0.12% | Shares |
| NOMURA ASSET MANAGEMENT CO LTD | $10,655,481 | 372,830 | 0.11% | Shares |
| GROUP ONE TRADING LLC | $10,160,590 | 355,514 | 0.11% | Shares |
| Cinctive Capital Management LP | $9,810,285 | 343,257 | 0.10% | Shares |
| VANGUARD ASSET MANAGEMENT, Ltd | $9,618,942 | 336,562 | 0.10% | Shares |
| NEUBERGER BERMAN GROUP LLC | $9,292,189 | 325,129 | 0.10% | Shares |
| BARCLAYS PLC | $8,867,173 | 310,258 | 0.09% | Shares |
| Clear Street Group Inc. | $8,538,446 | 298,756 | 0.09% | Shares |
| TD Asset Management Inc | $8,454,536 | 295,820 | 0.09% | Shares |
| Man Group plc | $8,286,600 | 289,944 | 0.09% | Shares |
Company insiders 16 insiders · 5 officers · 8 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Matthew S Bromberg | President and CEO | Aug. 25, 2026 S | 1,541,131 | 0 | 2 | $-742,278 |
| John S. Riccitiello | President and CEO | March 4, 2022 A | 3,168,669 | 0 | 0 | $0 |
| Jarrod Yahes | SVP, Chief Financial Officer | Aug. 25, 2026 S | 678,343 | 0 | 2 | $-1,178,854 |
| Alexander Blum | SVP, Chief Operating Officer | Aug. 27, 2026 S | 705,411 | 0 | 3 | $-1,021,095 |
| Rebecca Berenice Boyden | SVP, Chief Legal Officer | Aug. 25, 2026 S | 308,413 | 0 | 2 | $-46,769 |
| Barry Schuler | Director | May 13, 2026 A | 59,828 | 0 | 0 | $0 |
| Robynne Sisco | Director | May 13, 2026 A | 26,123 | 0 | 0 | $0 |
| James M Whitehurst | Director | May 13, 2026 A | 0 | 0 | 0 | $0 |
| David Helgason | Director | Dec. 11, 2025 S | 7,635 | 0 | 7 | $-95,292,083 |
| Michelle K. Lee | Director | March 21, 2022 A | 4,248 | 0 | 0 | $0 |
| Alyssa Henry | Director | Sept. 17, 2020 A | 14,016 | 0 | 0 | $0 |
| Joachim Christoph Ante | 10% owner | March 3, 2021 A | 12,297 | 0 | 0 | $0 |
| Egon Durban | — | Aug. 7, 2026 J | 21,537 | 0 | 0 | $0 |
| ROELOF BOTHA ("RB") | — | Aug. 7, 2026 J | 1,083,008 | 0 | 0 | $0 |
| Michael Lieb | — | Aug. 4, 2026 A | 38,948 | 0 | 0 | $0 |
| Shlomo Dovrat | — | May 13, 2026 A | 61,595 | 0 | 1 | $-1,286,100 |
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 |
|---|---|---|---|---|---|
| Joachim Christoph Ante | March 1, 2023 | — | Initial filing | — | SEC |
| OTEE 2020 ApS, Joachim Christoph Ante, David Helgason ×2 filings | Oct. 20, 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 97 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 |
|---|---|---|---|---|
| HERO · Global X Funds | 5.44% | 115,277 NS | May 31, 2026 | N-PORT |
| ESPO · VanEck ETF Trust | 4.69% | 392,159 NS | June 30, 2026 | N-PORT |
| NERD · Listed Funds Trust | 4.02% | 19,802 NS | June 30, 2026 | N-PORT |
| METV · Listed Funds Trust | 3.56% | 262,240 NS | June 30, 2026 | N-PORT |
| BNGE · First Trust Exchange-Traded Fund VI | 2.72% | 4,371 NS | June 30, 2026 | N-PORT |
| INVN · Alger ETF Trust | 2.10% | 7,095 NS | June 30, 2026 | N-PORT |
| LSEQ · Harbor ETF Trust | 2.03% | 11,837 NS | April 30, 2026 | N-PORT |
| VERS · ProShares Trust | 2.00% | 4,781 NS | May 31, 2026 | N-PORT |
| ODDS · Pacer Funds Trust | 1.77% | 2,634 NS | April 30, 2026 | N-PORT |
| FMET · Fidelity Covington Trust | 1.66% | 25,570 NS | June 30, 2026 | N-PORT |
| ARVR · First Trust Exchange-Traded Fund II | 1.30% | 1,281 NS | June 30, 2026 | N-PORT |
| SPIT · RBB Fund, Inc. | 1.15% | 12,451 NS | April 30, 2026 | N-PORT |
| GGME · Invesco Exchange-Traded Fund Trust | 0.96% | 9,808 SH | Aug. 27, 2026 | Daily |
| XDAT · Franklin Templeton ETF Trust | 0.71% | 925 NS | June 30, 2026 | N-PORT |
| NUSC · Nushares ETF Trust | 0.67% | 324,569 NS | April 30, 2026 | N-PORT |
| TMFX · RBB Fund, Inc. | 0.64% | 6,695 NS | May 31, 2026 | N-PORT |
| FDCF · Fidelity Covington Trust | 0.58% | 20,144 NS | May 31, 2026 | N-PORT |
| FMDE · Fidelity Covington Trust | 0.54% | 1,409,051 NS | June 30, 2026 | N-PORT |
| PNQI · Invesco Exchange-Traded Fund Trust | 0.53% | 65,001 SH | Aug. 27, 2026 | Daily |
| IGV · iShares Trust | 0.53% | 1,643,161 SH | Aug. 27, 2026 | Daily |
| ISCG · iShares Trust | 0.50% | 112,150 SH | Aug. 27, 2026 | Daily |
| ENDW · EA Series Trust | 0.37% | 17,583 NS | May 29, 2026 | N-PORT |
| IQSM · New York Life Investments ETF Trust | 0.37% | 44,087 NS | April 30, 2026 | N-PORT |
| FPX · First Trust Exchange-Traded Fund | 0.36% | 211,084 NS | June 30, 2026 | N-PORT |
| JHSC · John Hancock Exchange-Traded Fund T… | 0.32% | 77,519 NS | June 30, 2026 | N-PORT |
| VBK · VANGUARD INDEX FUNDS | 0.31% | 5,205,949 SH | Aug. 19, 2026 | Daily |
| BUZZ · VanEck ETF Trust | 0.28% | 10,413 NS | June 30, 2026 | N-PORT |
| ITAN · EA Series Trust | 0.28% | 8,271 NS | May 29, 2026 | N-PORT |
| IGPT · Invesco Exchange-Traded Fund Trust | 0.26% | 72,330 SH | Aug. 27, 2026 | Daily |
| ISCB · iShares Trust | 0.24% | 15,953 SH | Aug. 27, 2026 | Daily |
| OASC · Unified Series Trust | 0.24% | 6,507 NS | May 31, 2026 | N-PORT |
| SMMD · iShares Trust | 0.21% | 185,236 SH | Aug. 27, 2026 | Daily |
| ESML · iShares Trust | 0.21% | 136,720 SH | Aug. 27, 2026 | Daily |
| BKMC · BNY Mellon ETF Trust | 0.21% | 48,815 NS | April 30, 2026 | N-PORT |
| ALAI · Alger ETF Trust | 0.20% | 31,699 NS | June 30, 2026 | N-PORT |
| SCHM · SCHWAB STRATEGIC TRUST | 0.20% | 935,692 NS | May 31, 2026 | N-PORT |
| FSMD · FIDELITY COVINGTON TRUST | 0.18% | 163,066 NS | April 30, 2026 | N-PORT |
| BBMC · J.P. Morgan Exchange-Traded Fund Tr… | 0.17% | 130,116 NS | April 30, 2026 | N-PORT |
| IWS · iShares Trust | 0.15% | 541,819 SH | Aug. 27, 2026 | Daily |
| JVAL · J.P. Morgan Exchange-Traded Fund Tr… | 0.14% | 39,978 NS | April 30, 2026 | N-PORT |
| WSML · iShares Trust | 0.14% | 20,750 SH | Aug. 27, 2026 | Daily |
| FNDA · SCHWAB STRATEGIC TRUST | 0.13% | 387,197 NS | May 31, 2026 | N-PORT |
| VB · VANGUARD INDEX FUNDS | 0.13% | 9,012,341 SH | Aug. 19, 2026 | Daily |
| IWR · iShares Trust | 0.11% | 1,468,566 SH | Aug. 27, 2026 | Daily |
| JMOM · J.P. Morgan Exchange-Traded Fund Tr… | 0.11% | 93,268 NS | April 30, 2026 | N-PORT |
| FELC · Fidelity Covington Trust | 0.11% | 303,843 NS | June 30, 2026 | N-PORT |
| VXF · VANGUARD INDEX FUNDS | 0.11% | 4,007,523 SH | Aug. 19, 2026 | Daily |
| FHEQ · Fidelity Greenwood Street Trust | 0.11% | 33,373 NS | April 30, 2026 | N-PORT |
| FELG · Fidelity Covington Trust | 0.11% | 209,575 NS | June 30, 2026 | N-PORT |
| JHMM · John Hancock Exchange-Traded Fund T… | 0.10% | 201,268 NS | June 30, 2026 | N-PORT |