VELO Velo3D, Inc. - Common stock
$13.67
Price · Aug 19, 2026
Fundamentals as of Aug 11, 2026
52W Range
$3–$32
38% of range
Analyst Rating
BUY
10 analysts
Price Target
$24
+73% upside
P/E (TTM)
-0.0
ROE
-209.7%
Net Profit Margin
-155.2%
VELO Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$13.67
Market Cap
$2M
P/E (TTM)
-0.0
EPS (TTM)
$-4.33
Revenue (TTM)
$46M
Div Yield
—
ROE
-209.7%
Debt/Equity
—
52W Range
$3 – $32
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10-Year Performance Revenue, net income, margins and EPS trends
Revenue & Net Income
$46M
2022-12-31
→
2025-12-31
EPS
$-4.33
2022-12-31
→
2025-12-31
Free Cash Flow
$-30M
2022-12-31
→
2025-12-31
Margins
-155.2%
2022-12-31
→
2025-12-31
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Metric
5Y trend
VELO
Peer Median
P/E (TTM)
-0.0
38.0
P/S (TTM)
0.0
1.6
P/B
0.1
1.6
Price / FCF
-0.1
—
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Metric
5Y trend
VELO
Peer Median
Gross Margin
-16.1%
33.5%
Operating Margin
-119.5%
—
Net Profit Margin
-155.2%
1.6%
ROA
-71.7%
0.92%
ROE
-209.7%
1.6%
ROIC
-144.2%
—
Financial Health Debt, liquidity, solvency — balance sheet strength
Metric
5Y trend
VELO
Peer Median
Current Ratio
2.4
2.3
Quick Ratio
1.3
—
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Metric
5Y trend
VELO
Peer Median
Revenue YoY
12.1%
—
Revenue CAGR 3Y
-16.4%
—
Revenue CAGR 5Y
19.4%
—
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
Metric
5Y trend
VELO
Peer Median
VELO Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
BUY
10 analysts
- Strong Buy 2 20.0%
- Buy 7 70.0%
- Hold 1 10.0%
- Sell 0 0.0%
- Strong Sell 0 0.0%
12-Month Price Target
5 analysts · 2026-08-15
Median
$23.00
← Below all targets
$13.67
Low
$17.00
High
$33.00
Median target
$23.00
+68.3%
Mean target
$23.60
+72.6%
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
-0.08%
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| June 30, 2026 | $-0.30 | $-0.32 | 0.02% |
| March 31, 2026 | $-0.28 | $-0.44 | 0.16% |
| Dec. 31, 2025 | $-1.03 | $-0.58 | -0.45% |
| Sept. 30, 2025 | $-0.54 | $-0.53 | -0.01% |
| March 31, 2025 | $-0.04 | $-0.04 | 0.00% |
| March 31, 2024 | $-0.08 | $-0.05 | -0.03% |
| Dec. 31, 2023 | $-0.29 | $-0.08 | -0.21% |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| VELO | $338M | -3.2 | 12.1% | -155.2% | -209.7% | -16.1% |
| ELMT | — | — | — | — | — | — |
| CMCO | $418M | -2.0 | 23.9% | -19.2% | -19.4% | 30.1% |
| LXFR | $360M | 48.3 | -1.9% | 2.0% | 3.3% | 23.2% |
| ERII | $712M | 32.1 | -6.9% | 17.0% | 11.0% | 65.1% |
| FSTR | $273M | 39.1 | 1.7% | 1.4% | 4.3% | 21.1% |
| AIRJ | — | — | — | — | — | — |
| RR | — | -10.7 | 19.0% | -972.7% | — | 35.9% |
| NNBR | $64M | -1.2 | -9.1% | -8.1% | -72.7% | — |
| PDYN | — | — | — | — | — | — |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement 17
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Revenue | $46M | $41M | $77M | $79M | $27M | $19M | |
| Cost of Revenue | $53M | $43M | $104M | $78M | $22M | $13M | |
| Gross Profit | $-7M | $-2M | $-26M | $843.0K | $5M | $6M | |
| R&D Expense | $11M | $15M | $42M | $46M | $27M | $14M | |
| SG&A Expense | $30M | $48M | $42M | $37M | $23M | $6M | |
| Operating Expenses | $48M | $77M | $107M | $107M | $63M | $28M | |
| Operating Income | $-55M | $-79M | $-133M | $-106M | $-58M | $-21M | |
| Interest Expense | · | $16M | $10M | $372.0K | $3M | $639.0K | |
| Other Non-op | $526.0K | $-4M | $506.0K | $1M | $-88.0K | $35.0K | |
| Pretax Income | $-71M | $-70M | $-135M | $8M | $-107M | $-22M | |
| Income Tax | $117.0K | $-20.0K | $0 | $0 | $0 | $0 | |
| Net Income | $-71M | $-70M | $-135M | $8M | $-107M | $-22M | |
| EPS (Basic) | $-4.33 | $-82.32 | $-23.97 | $0.04 | $-1.82 | $-0.56 | |
| EPS (Diluted) | $-4.33 | $-82.32 | $-23.97 | $0.04 | $-1.82 | $-0.56 | |
| Shares (Basic) | 16,486,845 | 847,265 | 5,638,821 | 185,079,101 | 58,688,496 | 15,629,179 | |
| Shares (Diluted) | 16,486,845 | 847,265 | 5,638,821 | 202,174,903 | 58,688,496 | 15,629,179 | |
| EBITDA | $-52M | $-77M | $-124M | $-99M | $-56M | · |
Balance Sheet 26
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $39M | $1M | $24M | $32M | $208M | $16M | |
| Short-term Investments | · | · | $7M | $48M | $15M | $0 | |
| Receivables | $6M | $4M | $10M | $9M | $13M | $1M | |
| Inventory | $27M | $50M | $61M | $71M | $22M | $7M | |
| Prepaid Expense | $6M | $2M | $4M | $6M | $9M | $807.0K | |
| Current Assets | $80M | $58M | $113M | $172M | $268M | $28M | |
| PP&E (Net) | $13M | $14M | $16M | $20M | $10M | $1M | |
| PP&E (Gross) | $26M | $27M | $25M | $26M | $13M | $3M | |
| Accum. Depreciation | $13M | $13M | $9M | $6M | $3M | $2M | |
| Other Non-current Assets | $11M | $14M | $18M | $23M | $16M | $932.0K | |
| Total Assets | $105M | $89M | $154M | $223M | $303M | $33M | |
| Accounts Payable | $10M | $19M | $16M | $12M | $10M | $1M | |
| Accrued Liabilities | $2M | $1M | $2M | $9M | $3M | $787.0K | |
| Short-term Debt | · | $6M | · | · | · | · | |
| Current Liabilities | $34M | $38M | $49M | $46M | $47M | $12M | |
| Capital Leases | $7M | $8M | $10M | $12M | $9M | $232.0K | |
| Other Non-current Liabilities | $1M | $863.0K | $1M | $428.0K | $308.0K | $-48.0K | |
| Total Liabilities | $67M | $50M | $85M | $84M | $192M | $17M | |
| Long-term Debt | $31M | $6M | $44M | $8M | · | · | |
| Common Stock | $5.0K | $4.0K | $2.0K | $2.0K | $2.0K | $1.0K | |
| Paid-in Capital | $536M | $466M | $425M | $362M | $340M | $15M | |
| Retained Earnings | $-498M | $-427M | $-357M | $-222M | $-230M | $-123M | |
| AOCI | $0 | $0 | $-96.0K | $-837.0K | $-14.0K | $0 | |
| Stockholders' Equity | $38M | $40M | $68M | $139M | $110M | $-108M | |
| Liabilities + Equity | $105M | $89M | $154M | $223M | $303M | $33M | |
| Shares Outstanding | 24,607,630 | 12,993,962 | 7,383,390 | 187,561,368 | 183,232,494 | 16,003,558 |
Cash Flow 11
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| D&A | $3M | $5M | $9M | $5M | $3M | $1M | |
| Stock-based Comp | $10M | $12M | $25M | $20M | $4M | $1M | |
| Deferred Tax | $0 | $0 | · | · | · | · | |
| Other Non-cash | $31M | $20M | $-5M | $-159M | $44M | · | |
| Operating Cash Flow | $-27M | $-33M | $-106M | $-124M | $-56M | $-26M | |
| CapEx | $3M | $9.0K | $1M | $14M | $10M | $401.0K | |
| Investing Cash Flow | $-3M | $8M | $39M | $-53M | $-34M | $-3M | |
| Financing Cash Flow | $68M | $1M | $59M | $1M | $283M | $36M | |
| Net Change in Cash | $38M | $-23M | $-7M | $-176M | $193M | $6M | |
| Free Cash Flow | $-30M | $-33M | $-107M | $-138M | $-66M | · | |
| Levered FCF | · | $-49M | $-116M | $-138M | $-69M | · |
Profitability 8
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Gross Margin | -16.1% | -5.1% | -33.9% | 3.6% | 18.1% | · | |
| Operating Margin | -119.5% | -200.8% | -172.1% | -129.1% | -210.5% | · | |
| Net Margin | -155.2% | -178.8% | -174.5% | 12.4% | -390.3% | · | |
| Pretax Margin | -155.0% | -178.8% | -174.5% | 12.4% | -390.3% | · | |
| EBITDA Margin | -112.1% | -188.8% | -160.1% | -122.5% | -202.6% | · | |
| ROA | -71.7% | -60.3% | -70.9% | 4.2% | -63.9% | · | |
| ROE | -209.7% | -197.9% | -161.8% | 8.0% | -92.1% | · | |
| ROIC | -144.2% | -207.5% | -195.0% | -74.0% | -52.3% | · |
Liquidity & Solvency 3
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Current Ratio | 2.4 | 1.5 | 2.4 | 3.8 | 5.7 | 3.4 | |
| Quick Ratio | 1.3 | 0.1 | 0.8 | 1.9 | 5.1 | 2.4 | |
| Interest Coverage | · | -5.2 | -13.7 | -280.3 | -21.1 | · |
Efficiency 3
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.5 | 0.3 | 0.4 | 0.3 | 0.2 | · | |
| Inventory Turnover | 1.4 | 0.8 | 1.5 | 1.1 | 1.5 | · | |
| Receivables Turnover | 9.2 | 6.2 | 7.0 | 5.4 | 3.9 | · |
Growth Rates 3
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Revenue YoY | 12.1% | -47.0% | -1.6% | 186.8% | 44.6% | · | |
| Revenue CAGR 3Y | -16.4% | 14.3% | 59.8% | · | · | · | |
| Revenue CAGR 5Y | 19.4% | · | · | · | · | · |
Valuation (TTM) 10
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Revenue TTM | $46M | $41M | $77M | $79M | $27M | $19M | |
| Net Income TTM | $-71M | $-70M | $-135M | $8M | $-107M | $-22M | |
| Market Cap | $338M | $1.97B | $54.00B | $176.26B | $751.30B | · | |
| P/E | -3.2 | -0.1 | -8.7 | 23493.8 | -2252.9 | · | |
| P/S | 7.4 | 48.1 | 697.2 | 2239.5 | 27380.7 | · | |
| P/B | 8.9 | 49.8 | 790.1 | 1251.4 | 6804.3 | · | |
| P / Tangible Book | 8.9 | 49.8 | 790.1 | 1269.9 | 6804.3 | · | |
| P / Cash Flow | -12.4 | -60.4 | -511.2 | -1421.9 | -13320.0 | · | |
| P / FCF | -11.3 | -60.4 | -506.1 | -1279.3 | -11379.4 | · | |
| Earnings Yield | -31.5% | -813.0% | -11.5% | 0.00% | -0.04% | · |
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 | $21M | $14M | $9M | $14M | $14M | $9M | $13M | $8M | $10M | $10M | $2M | $23M | $25M | $27M | $28M | $19M | |
| Cost of Revenue | $16M | $11M | $16M | $13M | $15M | $9M | $13M | $4M | $13M | $13M | $34M | $23M | $23M | $24M | $28M | $19M | |
| Gross Profit | $4M | $2M | $-7M | $433.0K | $-2M | $697.0K | $-444.0K | $4M | $-3M | $-3M | $-31M | $163.0K | $3M | $3M | $-283.0K | $-121.0K | |
| R&D Expense | $4M | $3M | $4M | $3M | $3M | $2M | $1M | $4M | $4M | $5M | $10M | $9M | $12M | $10M | $8M | $13M | |
| SG&A Expense | $8M | $5M | $9M | $6M | $6M | $9M | $15M | $15M | $9M | $9M | $11M | $11M | $10M | $10M | $10M | $10M | |
| Operating Expenses | $16M | $9M | $13M | $10M | $10M | $12M | $18M | $22M | $17M | $18M | $26M | $26M | $28M | $27M | $24M | $28M | |
| Operating Income | $-11M | $-7M | $-20M | $-10M | $-12M | $-12M | $-18M | $-18M | $-19M | $-21M | $-57M | $-26M | $-26M | $-24M | $-24M | $-28M | |
| Interest Expense | · | · | · | · | · | $1M | · | $4M | $5M | $4M | $6M | $3M | $344.0K | $220.0K | $10.0K | $129.0K | |
| Other Non-op | $-242.0K | $708.0K | $554.0K | $-11.0K | $-6.0K | $-11.0K | $39.0K | $-2M | $-1M | $94.0K | $-459.0K | $436.0K | $178.0K | $351.0K | $457.0K | $384.0K | |
| Pretax Income | $-12M | $-7M | $-20M | $-11M | $-13M | $-25M | $-18M | $-22M | $931.0K | $-28M | $-56M | $-19M | $-23M | $-36M | $21M | $-75M | |
| Income Tax | $-9.0K | $26.0K | $34.0K | $-14.0K | $89.0K | $8.0K | $-20.0K | $0 | $-4.0K | $4.0K | $0 | $0 | $0 | $0 | $0 | $0 | |
| Net Income | $-12M | $-7M | $-20M | $-11M | $-13M | $-25M | $-18M | $-22M | $935.0K | $-28M | $-56M | $-19M | $-23M | $-36M | $21M | $-75M | |
| EPS (Basic) | $-0.39 | $-0.28 | $-2.53 | $-0.65 | $-0.94 | $-1.87 | $-40.67 | $-35.52 | $1.65 | $-55.51 | $-16.31 | $-3.37 | $-4.10 | $-0.19 | $0.12 | $-0.41 | |
| EPS (Diluted) | $-0.39 | $-0.28 | $-2.53 | $-0.65 | $-0.94 | $-1.87 | $-40.67 | $-35.52 | $1.65 | $-55.51 | $-16.31 | $-3.37 | $-4.10 | $-0.19 | $0.18 | $-0.41 | |
| Shares (Basic) | 29,448,322 | 25,021,065 | -215,650,794 | 17,124,361 | 14,041,712 | 13,398,104 | -7,770,767 | 616,030 | 565,026 | 7,436,976 | -195,401,266 | 5,771,465 | 5,659,601 | 189,609,021 | -368,261,352 | 185,560,177 | |
| Shares (Diluted) | 29,448,322 | 25,021,065 | -215,650,794 | 17,124,361 | 14,041,712 | 13,398,104 | -7,770,767 | 616,030 | 565,026 | 7,436,976 | -195,401,266 | 5,771,465 | 5,659,601 | 189,609,021 | -369,209,409 | 185,560,177 | |
| EBITDA | $-11M | $-6M | · | $-11M | $-12M | $-11M | · | $-19M | $-21M | $-17M | · | $-25M | $-26M | $-23M | · | $-28M |
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 | $91M | $17M | $39M | $12M | $854.0K | $4M | $1M | $2M | $2M | $8M | $24M | $58M | $29M | $37M | $32M | $40M | |
| Short-term Investments | · | · | · | · | · | · | · | $0 | $699.0K | $3M | $7M | $13M | $18M | $27M | $48M | $72M | |
| Receivables | $8M | $7M | $6M | $7M | $5M | $5M | $4M | $10M | $8M | $12M | $10M | $13M | $14M | $14M | $9M | $21M | |
| Inventory | $28M | $28M | $27M | $35M | $38M | $46M | $50M | $62M | $60M | $63M | $61M | $81M | $78M | $74M | $71M | $69M | |
| Prepaid Expense | $17M | $10M | $6M | $2M | $3M | $6M | $2M | $2M | $2M | $3M | $4M | $3M | $3M | $5M | $6M | $5M | |
| Current Assets | $156M | $65M | $80M | $59M | $49M | $62M | $58M | $80M | $82M | $98M | $113M | $184M | $158M | $165M | $172M | $210M | |
| PP&E (Net) | $16M | $16M | $13M | $12M | $15M | $14M | $14M | $13M | $14M | $15M | $16M | $17M | $18M | $19M | $20M | $19M | |
| PP&E (Gross) | $30M | $30M | $26M | $27M | $30M | $27M | $27M | $25M | $25M | $25M | $25M | $27M | $27M | $26M | $26M | $24M | |
| Accum. Depreciation | $14M | $13M | $13M | $15M | $14M | $14M | $13M | $12M | $11M | $10M | $9M | $9M | $8M | $7M | $6M | $5M | |
| Other Non-current Assets | $27M | $10M | $11M | $19M | $11M | $12M | $14M | $14M | $16M | $17M | $18M | $22M | $23M | $23M | $23M | $20M | |
| Total Assets | $200M | $92M | $105M | $94M | $79M | $91M | $89M | $111M | $117M | $136M | $154M | $230M | $207M | $214M | $223M | $257M | |
| Accounts Payable | $5M | $9M | $10M | $11M | $15M | $16M | $19M | $18M | $14M | $16M | $16M | $13M | $18M | $11M | $12M | $14M | |
| Accrued Liabilities | $943.0K | $758.0K | $2M | $2M | $4M | $2M | $1M | $2M | $2M | $2M | $2M | $6M | $4M | $9M | $9M | $11M | |
| Short-term Debt | · | · | · | · | $17M | · | · | · | · | · | · | · | · | · | · | · | |
| Current Liabilities | $25M | $27M | $34M | $38M | $43M | $44M | $38M | $63M | $49M | $61M | $49M | $99M | $36M | $38M | $46M | $62M | |
| Capital Leases | $22M | $6M | $7M | $7M | $8M | $8M | $8M | $9M | $9M | $10M | $10M | $10M | $11M | $12M | $12M | $13M | |
| Other Non-current Liabilities | $1M | $1M | $1M | $1M | $9M | $1M | $863.0K | $1M | $2M | $2M | $1M | $255.0K | $396.0K | $330.0K | $428.0K | $1M | |
| Total Liabilities | $54M | $41M | $67M | $64M | $57M | $59M | $50M | $76M | $65M | $91M | $85M | $127M | $96M | $92M | $84M | $145M | |
| Long-term Debt | $8M | $9M | $31M | $23M | $22M | $22M | · | $32M | $34M | $44M | · | $80M | $22M | $13M | · | · | |
| Total Debt | · | · | · | · | $39M | · | · | · | · | · | · | · | · | · | · | · | |
| Common Stock | $5.0K | $5.0K | $5.0K | $5.0K | $4.0K | $4.0K | $4.0K | $2.0K | $2.0K | $2.0K | $2.0K | $2.0K | $2.0K | $2.0K | $2.0K | $2.0K | |
| Paid-in Capital | $663M | $557M | $536M | $511M | $491M | $489M | $466M | $443M | $438M | $431M | $425M | $400M | $390M | $379M | $362M | $356M | |
| Retained Earnings | $-517M | $-505M | $-498M | $-481M | $-470M | $-456M | $-427M | $-408M | $-386M | $-385M | $-357M | $-297M | $-279M | $-256M | $-222M | $-242M | |
| AOCI | · | · | $0 | $0 | · | $0 | $0 | $0 | $-2.0K | $-44.0K | $-96.0K | $-252.0K | $-401.0K | $-549.0K | $-837.0K | $-1M | |
| Stockholders' Equity | $147M | $52M | $38M | $30M | $22M | $33M | $40M | $35M | $52M | $45M | $68M | $103M | $111M | $122M | $139M | $113M | |
| Liabilities + Equity | $200M | $92M | $105M | $94M | $79M | $91M | $89M | $111M | $117M | $136M | $154M | $230M | $207M | $214M | $223M | $257M | |
| Shares Outstanding | 32,149,118 | 26,216,822 | 24,607,630 | 20,912,172 | 14,067,416 | 210,232,762 | 12,993,962 | 9,647,652 | 8,611,219 | 261,704,589 | 7,383,390 | 200,314,984 | 196,737,320 | 192,479,797 | 187,561,368 | 186,412,818 |
Cash Flow 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $712.0K | $762.0K | $887.0K | $675.0K | $875.0K | $995.0K | $834.0K | $1M | $-2M | $1M | $3M | $3M | $1M | $2M | $2M | $1M | |
| Stock-based Comp | $2M | $2M | $403.0K | $3M | $2M | $4M | $-1M | $4M | $4M | $4M | $5M | $7M | $7M | $6M | $5M | $5M | |
| Other Non-cash | · | $-14M | · | · | · | $8M | · | · | · | $-2M | · | · | · | $-2M | · | · | |
| Operating Cash Flow | $-22M | $-18M | $-8M | $-6M | $-1M | $-12M | $-2M | $-2M | $-8M | $-21M | $-25M | $-22M | $-28M | $-31M | $-32M | $-23M | |
| CapEx | $4M | $940.0K | $603.0K | $313.0K | $2M | $0 | $-19.0K | $20.0K | $2.0K | $6.0K | $-26.0K | $382.0K | $287.0K | $403.0K | $2M | $4M | |
| Investing Cash Flow | $-4M | $-940.0K | $-603.0K | $-313.0K | $-2M | $0 | $1M | $678.0K | $2M | $3M | $8M | $5M | $5M | $21M | $21M | $20M | |
| Financing Cash Flow | $103M | $-4M | $36M | $17M | $0 | $15M | $502.0K | $468.0K | $205.0K | $285.0K | $-17M | $46M | $15M | $15M | $2M | $-40.0K | |
| Net Change in Cash | $78M | $-22M | $27M | $11M | $-3M | $3M | $-597.0K | $-825.0K | $-5M | $-17M | $-34M | $29M | $-8M | $5M | $-8M | $-3M | |
| Free Cash Flow | · | $-19M | · | · | · | $-12M | · | · | · | $-21M | · | · | · | $-31M | · | · | |
| Levered FCF | · | · | · | · | · | $-13M | · | · | · | $-24M | · | · | · | $-31M | · | · |
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 | 21.5% | 17.2% | · | 3.2% | -11.7% | 7.5% | · | 49.4% | -28.0% | -28.8% | · | 6.2% | 11.9% | 10.9% | · | -0.63% | |
| Operating Margin | -53.5% | -50.3% | · | -77.9% | -89.1% | -127.9% | · | -227.3% | -198.4% | -219.2% | · | -105.9% | -102.3% | -90.0% | · | -146.2% | |
| Net Margin | -55.7% | -50.6% | · | -86.7% | -101.4% | -272.7% | · | -277.2% | -1.7% | -289.3% | · | -73.1% | -92.3% | -135.0% | · | -393.4% | |
| Pretax Margin | -55.7% | -50.5% | · | -86.8% | -100.7% | -272.6% | · | -277.2% | -1.7% | -289.3% | · | -73.1% | -92.3% | -135.0% | · | -393.4% | |
| EBITDA Margin | -53.5% | -44.8% | · | -77.9% | -89.1% | -117.8% | · | -227.3% | -198.4% | -172.5% | · | -105.9% | -102.3% | -84.2% | · | -146.2% | |
| ROA | -8.3% | -7.6% | · | -11.6% | -14.1% | -22.3% | · | -13.4% | -0.11% | -13.4% | · | -7.8% | -9.9% | · | · | -24.9% | |
| ROE | -13.7% | -16.6% | · | -36.5% | -37.4% | -64.9% | · | -33.2% | -0.21% | -59.6% | · | -15.5% | -15.8% | · | · | -64.0% | |
| ROIC | -7.5% | -13.5% | · | -35.2% | -20.0% | -36.3% | · | -54.0% | -38.5% | -47.2% | · | -24.5% | -23.2% | · | · | -24.8% |
Liquidity & Solvency 5
| 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 | 6.3 | 2.4 | · | 1.6 | 1.1 | 1.4 | · | 1.3 | 1.7 | 1.6 | · | 1.9 | 4.4 | · | · | 3.4 | |
| Quick Ratio | 4.0 | 0.9 | · | 0.5 | 0.1 | 0.2 | · | 0.2 | 0.2 | 0.4 | · | 0.9 | 1.7 | · | · | 2.2 | |
| Debt / Equity | · | · | · | · | 1.8 | · | · | · | · | · | · | · | · | · | · | · | |
| LT Debt / Equity | · | · | · | · | 0.3 | · | · | · | · | · | · | · | · | · | · | · | |
| Interest Coverage | · | · | · | · | · | -11.1 | · | -1.7 | -3.8 | -5.5 | · | -22.8 | -74.7 | -109.7 | · | -216.7 |
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 | 0.1 | 0.2 | · | 0.1 | 0.1 | 0.1 | · | 0.0 | 0.1 | 0.0 | · | 0.1 | 0.1 | · | · | 0.1 | |
| Inventory Turnover | 0.5 | 0.3 | · | 0.3 | 0.3 | 0.2 | · | 0.1 | 0.2 | 0.2 | · | 0.3 | 0.3 | · | · | 0.5 | |
| Receivables Turnover | 3.0 | 2.4 | · | 1.6 | 2.0 | 1.1 | · | 0.7 | 0.9 | 0.9 | · | 1.8 | 1.9 | · | · | 1.4 |
Valuation (TTM) 13
| 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 | $62M | $50M | · | $45M | $41M | $38M | · | $52M | $68M | $85M | · | $94M | $91M | $78M | · | $60M | |
| Net Income TTM | $-43M | $-56M | · | $-71M | $-59M | $-73M | · | $-68M | $-69M | $-107M | · | $-154M | $-7M | $-49M | · | $-79M | |
| Market Cap | $564M | $246M | · | $64M | $101M | $523M | · | $104M | $429M | $62.65B | · | $164.06B | $223.10B | · | · | $385.59B | |
| Enterprise Value | · | · | · | · | $140M | · | · | · | · | · | · | · | · | · | · | · | |
| P/E | -7.8 | -2.5 | · | -0.1 | -0.2 | -0.0 | · | -0.1 | -0.8 | -3.8 | · | -101.5 | -278.6 | -3611.4 | · | -591.0 | |
| P/S | 9.1 | 4.9 | · | 1.4 | 2.4 | 13.9 | · | 2.0 | 6.3 | 739.0 | · | 1743.4 | 2463.0 | · | · | 6460.2 | |
| P/B | 3.9 | 4.8 | · | 2.1 | 4.7 | 15.9 | · | 3.0 | 8.2 | 1378.5 | · | 1593.5 | 2017.3 | · | · | 3416.3 | |
| P / Tangible Book | 3.9 | 4.8 | · | 2.1 | 4.7 | 15.9 | · | 3.0 | 8.2 | 1378.5 | · | 1593.5 | 2017.3 | · | · | 3416.3 | |
| P / Cash Flow | · | -13.7 | · | · | · | -42.4 | · | · | · | -3052.8 | · | · | · | · | · | · | |
| P / FCF | · | -13.0 | · | · | · | -42.4 | · | · | · | -3051.9 | · | · | · | · | · | · | |
| EV / EBITDA | · | · | · | · | -11.6 | · | · | · | · | · | · | · | · | · | · | · | |
| EV / Revenue | · | · | · | · | 3.4 | · | · | · | · | · | · | · | · | · | · | · | |
| Earnings Yield | -12.9% | -39.8% | · | -1269.7% | -509.4% | -3664.7% | · | -858.8% | -123.2% | -26.4% | · | -0.99% | -0.36% | -0.03% | · | -0.17% |
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
Income Statement
| 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | |
|---|---|---|---|---|---|
| Revenue | $46M | — | — | — | $41M |
| Gross Margin % | -16.1% | — | — | — | -5.1% |
| Operating Margin % | -119.5% | — | — | — | -200.8% |
| Net Income | $-71M | — | — | — | $-70M |
| Diluted EPS | $-4.33 | — | — | — | $-82.32 |
Balance Sheet
| 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | |
|---|---|---|---|---|---|
| Current Ratio | 2.4 | — | — | — | 1.5 |
| Quick Ratio | 1.3 | — | — | — | 0.1 |
Cash Flow
| 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | |
|---|---|---|---|---|---|
| Free Cash Flow | $-30M | — | — | — | $-33M |
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Institutional owners (13F) 142 filers · $179.1M 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 |
|---|---|---|---|---|
| 84 (+47 vs prior Q) | 14 (-2 vs prior Q) | 29 (+8 vs prior Q) | 18 (+15 vs prior Q) | +3.5M |
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 |
|---|---|---|---|---|
| AWM Investment Company, Inc. | $23,202,258 | 1,322,066 | 12.96% | Shares |
| STATE STREET CORP | $17,619,884 | 1,003,982 | 9.84% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $11,355,991 | 647,065 | 6.34% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $10,101,780 | 575,600 | 5.64% | Shares |
| NEXT CENTURY GROWTH INVESTORS LLC | $9,711,397 | 553,356 | 5.42% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $9,069,840 | 516,800 | 5.06% | Call option |
| JANE STREET GROUP, LLC | $6,911,190 | 393,800 | 3.86% | Put option |
| GEODE CAPITAL MANAGEMENT, LLC | $6,618,038 | 377,013 | 3.70% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $6,529,302 | 372,040 | 3.65% | Shares |
| JANE STREET GROUP, LLC | $5,644,010 | 321,596 | 3.15% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $5,419,440 | 308,800 | 3.03% | Put option |
| MILLENNIUM MANAGEMENT LLC | $5,325,354 | 303,439 | 2.97% | Shares |
| CITADEL ADVISORS LLC | $3,903,120 | 222,400 | 2.18% | Call option |
| JANE STREET GROUP, LLC | $3,901,365 | 222,300 | 2.18% | Call option |
| Ghisallo Capital Management LLC | $3,510,000 | 200,000 | 1.96% | Shares |
| ARK Investment Management LLC | $3,417,915 | 194,753 | 1.91% | Shares |
| OPPENHEIMER & CO INC | $3,399,523 | 193,705 | 1.90% | Shares |
| CITADEL ADVISORS LLC | $2,167,425 | 123,500 | 1.21% | Put option |
| VANGUARD FIDUCIARY TRUST CO | $2,092,030 | 119,204 | 1.17% | Shares |
| LPL Financial LLC | $2,006,281 | 114,318 | 1.12% | Shares |
| SYMMETRY PEAK MANAGEMENT LLC | $1,886,625 | 107,500 | 1.05% | Call option |
| Invst, LLC | $1,816,934 | 103,529 | 1.01% | Shares |
| TWO SIGMA INVESTMENTS, LP | $1,753,877 | 99,936 | 0.98% | Shares |
| TUDOR INVESTMENT CORP ET AL | $1,669,777 | 95,144 | 0.93% | Shares |
| Caitong International Asset Management Co., Ltd | $1,419,111 | 80,861 | 0.79% | Shares |
| MOORE CAPITAL MANAGEMENT, LP | $1,316,250 | 75,000 | 0.73% | Shares |
| PFG Advisors | $1,315,952 | 74,983 | 0.73% | Shares |
| POLEN CAPITAL MANAGEMENT LLC | $1,306,106 | 74,422 | 0.73% | Shares |
| IMC-Chicago, LLC | $1,238,679 | 70,580 | 0.69% | Shares |
| CANTOR FITZGERALD, L. P. | $1,147,858 | 65,405 | 0.64% | Shares |
| Clear Street Group Inc. | $1,092,768 | 62,266 | 0.61% | Shares |
| NewEdge Advisors, LLC | $1,023,641 | 58,327 | 0.57% | Shares |
| COMMONWEALTH EQUITY SERVICES, LLC | $1,016,110 | 57,898 | 0.57% | Shares |
| VK Services, LLC | $1,014,566 | 57,810 | 0.57% | Shares |
| CITADEL ADVISORS LLC | $1,012,600 | 57,698 | 0.57% | Shares |
| Apollon Wealth Management, LLC | $966,408 | 55,066 | 0.54% | Shares |
| SYMMETRY PEAK MANAGEMENT LLC | $965,250 | 55,000 | 0.54% | Put option |
| Cetera Investment Advisers | $941,628 | 53,654 | 0.53% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $881,133 | 50,207 | 0.49% | Shares |
| Balyasny Asset Management L.P. | $777,816 | 44,320 | 0.43% | Shares |
| Point72 Asset Management, L.P. | $763,794 | 43,521 | 0.43% | Shares |
| VANGUARD GROUP INC | $674,607 | 49,098 | 0.38% | Shares |
| Sender Co & Partners, Inc. | $584,748 | 33,319 | 0.33% | Shares |
| GRIFFIN ASSET MANAGEMENT, INC. | $580,958 | 33,103 | 0.32% | Shares |
| NOMURA HOLDINGS INC | $561,600 | 32,000 | 0.31% | Shares |
| SIMPLEX TRADING, LLC | $560,406 | 31,932 | 0.31% | Shares |
| RAYMOND JAMES FINANCIAL INC | $537,908 | 30,650 | 0.30% | Shares |
| GOLDMAN SACHS GROUP INC | $477,500 | 27,208 | 0.27% | Shares |
| GROUP ONE TRADING LLC | $427,623 | 24,366 | 0.24% | Shares |
| BlackRock, Inc. | $403,703 | 23,003 | 0.23% | Shares |
| RHUMBLINE ADVISERS | $360,050 | 20,516 | 0.20% | Shares |
| Sigma Planning Corp | $351,000 | 20,000 | 0.20% | Shares |
| Connective Capital Management, LLC | $345,015 | 19,659 | 0.19% | Shares |
| Belvedere Trading LLC | $303,615 | 17,300 | 0.17% | Call option |
| SAPIENT CAPITAL LLC | $290,172 | 16,534 | 0.16% | Shares |
| Engineers Gate Manager LP | $277,132 | 15,791 | 0.15% | Shares |
| HBW ADVISORY SERVICES LLC | $274,658 | 15,650 | 0.15% | Shares |
| Jump Financial, LLC | $272,780 | 15,543 | 0.15% | Shares |
| Byrne Asset Management LLC | $250,614 | 14,280 | 0.14% | Shares |
| DNB Asset Management AS | $245,876 | 14,010 | 0.14% | Shares |
| LOS ANGELES CAPITAL MANAGEMENT LLC | $244,910 | 13,955 | 0.14% | Shares |
| HighTower Advisors, LLC | $221,610 | 12,627 | 0.12% | Shares |
| Brookstone Capital Management | $215,610 | 12,285 | 0.12% | Shares |
| THOMPSON DAVIS & CO., INC. | $208,845 | 11,900 | 0.12% | Shares |
| Cerity Partners LLC | $207,248 | 11,809 | 0.12% | Shares |
| BANK OF AMERICA CORP /DE/ | $203,334 | 11,586 | 0.11% | Shares |
| Centiva Capital, LP | $199,491 | 11,367 | 0.11% | Shares |
| MetLife Investment Management, LLC | $178,835 | 10,190 | 0.10% | Shares |
| Bank of New York Mellon Corp | $168,041 | 9,575 | 0.09% | Shares |
| CITIGROUP INC | $163,636 | 9,324 | 0.09% | Shares |
| OSAIC HOLDINGS, INC. | $162,912 | 9,283 | 0.09% | Shares |
| SAGE ADVISORS, LLC | $154,589 | 11,251 | 0.09% | Shares |
| Bayforest Capital Ltd | $136,486 | 7,777 | 0.08% | Shares |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. | $132,924 | 7,574 | 0.07% | Shares |
| Vanguard Global Advisers, LLC | $132,099 | 7,527 | 0.07% | Shares |
| Tripletail Wealth Management, LLC | $130,807 | 8,369 | 0.07% | Shares |
| NEW YORK STATE COMMON RETIREMENT FUND | $100,035 | 5,700 | 0.06% | Shares |
| SBI Securities Co., Ltd. | $94,121 | 5,363 | 0.05% | Shares |
| Nuveen, LLC | $90,997 | 5,185 | 0.05% | Shares |
| Police & Firemen's Retirement System of New Jersey | $85,504 | 4,872 | 0.05% | Shares |
| State of Wyoming | $82,555 | 4,704 | 0.05% | Shares |
| FMR LLC | $77,764 | 4,431 | 0.04% | Shares |
| JONES FINANCIAL COMPANIES LLLP | $60,786 | 3,653 | 0.03% | Shares |
| BNP PARIBAS FINANCIAL MARKETS | $50,439 | 2,874 | 0.03% | Shares |
| Rockefeller Capital Management L.P. | $49,140 | 2,800 | 0.03% | Shares |
| Steward Partners Investment Advisory, LLC | $48,157 | 2,744 | 0.03% | Shares |
| NORTHERN TRUST CORP | $45,507 | 2,593 | 0.03% | Shares |
| BARCLAYS PLC | $41,331 | 2,355 | 0.02% | Shares |
| STRS OHIO | $36,855 | 2,100 | 0.02% | Shares |
| Larson Financial Group LLC | $32,222 | 1,836 | 0.02% | Shares |
| PNC Financial Services Group, Inc. | $28,273 | 1,611 | 0.02% | Shares |
| Legal & General Group Plc | $28,115 | 1,602 | 0.02% | Shares |
| Ameritas Investment Partners, Inc. | $26,307 | 1,499 | 0.01% | Shares |
| Russell Investments Group, Ltd. | $23,130 | 1,318 | 0.01% | Shares |
| Bogart Wealth, LLC | $19,305 | 1,100 | 0.01% | Shares |
| Tower Research Capital LLC (TRC) | $17,796 | 1,014 | 0.01% | Shares |
| Atlantic Union Bankshares Corp | $15,795 | 900 | 0.01% | Shares |
| Marex Group Ltd | $14,075 | 802 | 0.01% | Shares |
| MCF Advisors LLC | $13,268 | 756 | 0.01% | Shares |
| JPMORGAN CHASE & CO | $13,193 | 717 | 0.01% | Shares |
Company insiders 22 insiders · 6 officers · 15 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Arun Jeldi | CEO | June 29, 2026 A | 15,728 | 0 | 0 | $0 |
| Hull Hou Jun Xu | CFO | Dec. 31, 2025 M | 13,600 | 0 | 0 | $0 |
| Bernard Chung | Acting Chief Financial Officer | Nov. 21, 2023 S | 194,259 | 0 | 0 | $0 |
| William D. Mccombe | Chief Financial Officer | Aug. 15, 2023 M | 169,998 | 0 | 0 | $0 |
| Bradley Allen Kreger | COO | May 15, 2025 M | 65,359 | 0 | 0 | $0 |
| Renette Youssef | Chief Marketing Officer | Nov. 21, 2023 S | 88,861 | 0 | 0 | $0 |
| Jason Michael Lloyd | Director | June 27, 2026 M | 14,375 | 2 | 0 | $27,390 |
| Adrian Keppler | Director | June 27, 2026 M | 13,248 | 0 | 0 | $0 |
| Stefan Krause | Director | June 27, 2026 M | 13,410 | 0 | 0 | $0 |
| Lily Mei | Director | June 12, 2026 A | — | 0 | 0 | $0 |
| Kenneth Dale Thieneman | Director | May 28, 2026 M | 11,187 | 0 | 0 | $0 |
| Michael Idelchik | Director | March 10, 2025 M | 8,927 | 0 | 0 | $0 |
| Ellen Smith | Director | Dec. 31, 2024 A | 35,468 | 0 | 0 | $0 |
| Carl Bass | Director | Dec. 31, 2024 A | 61,053 | 0 | 0 | $0 |
| Benyamin Buller | Director | Dec. 10, 2024 M | 15,669 | 0 | 0 | $0 |
| Matthew Joseph Walters | Director | Dec. 10, 2024 M | 7,401 | 0 | 0 | $0 |
| Gabrielle B Toledano | Director | Dec. 10, 2024 M | 7,504 | 0 | 0 | $0 |
| Ellen M Pawlikowski | Director | June 26, 2023 A | 54,673 | 0 | 0 | $0 |
| Ricardo Angel | Director | Sept. 29, 2021 A | 22,874,407 | 0 | 0 | $0 |
| Playground Ventures, L.P. | 10% owner | April 5, 2022 J | 0 | 0 | 0 | $0 |
| Spitfire Sponsor LLC | 10% owner | March 30, 2022 J | 0 | 0 | 0 | $0 |
| Barry S Sternlicht | 10% owner | Sept. 29, 2021 J | 8,550,000 | 0 | 0 | $0 |
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 |
|---|---|---|---|---|---|
| Arun Jeldi, Arrayed Notes Acquisition Corp., Arrayed Additive, Inc. ×2 filings | March 9, 2026 | 48.60% | Amendment | — | SEC |
| Bessemer Venture Partners IX Institutional L.P., Bessemer Venture Partners IX L.P., Deer IX & Co. L.P., Deer IX & Co. Ltd. | Feb. 14, 2025 | 0.50% | Amendment | — | SEC |
| Khosla Ventures Seed B, L.P., Khosla Ventures Seed B (CF), L.P., Khosla Ventures Seed Associates B, LLC, Khosla Ventures V, L.P., Khosla Ventures Associates V, LLC, VK Services, LLC, Vinod Khosla ×2 filings | Feb. 14, 2025 | 0.40% | Amendment | Passive investment | SEC |
| PIV Fund I, L.P., PIV GP, L.L.C., Ricardo Angel, Mark Stout Gudiksen ×4 filings | May 3, 2024 | — | Initial filing | — | SEC |
| Bessemer Venture Partners IX Institutional L.P. (2), Bessemer Venture Partners IX L.P. (2), Deer IX & Co. L.P. (2), Deer IX & Co. Ltd. (2) | Oct. 12, 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 11 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 |
|---|---|---|---|---|
| PRNT · ARK ETF Trust | 4.54% | 194,753 NS | April 30, 2026 | N-PORT |
| VXF · VANGUARD INDEX FUNDS | — | — | July 15, 2026 | Daily |
| VTI · VANGUARD INDEX FUNDS | — | — | July 15, 2026 | Daily |
| VFMO · VANGUARD WELLINGTON FUND | — | — | July 30, 2026 | Daily |
| VTWO · VANGUARD SCOTTSDALE FUNDS | — | — | July 15, 2026 | Daily |
| VTWG · VANGUARD SCOTTSDALE FUNDS | — | — | July 15, 2026 | Daily |
| VTHR · VANGUARD SCOTTSDALE FUNDS | — | — | July 15, 2026 | Daily |
| ITOT · iShares Trust | — | — | July 22, 2026 | Daily |
| IWO · iShares Trust | — | — | Aug. 18, 2026 | Daily |
| IWM · iShares Trust | — | — | Aug. 18, 2026 | Daily |
| IWC · iShares Trust | — | — | Aug. 18, 2026 | Daily |