VERX Vertex, Inc. - Class A Common Stock
$13.49
Price · Aug 19, 2026
Fundamentals as of Aug 4, 2026
52W Range
$10–$27
20% of range
Analyst Rating
HOLD
22 analysts
Price Target
$17
+27% upside
P/E (TTM)
—
ROE
2.8%
Net Profit Margin
0.96%
VERX Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$13.49
Market Cap
—
P/E (TTM)
—
EPS (TTM)
—
Revenue (TTM)
$748M
Div Yield
—
ROE
2.8%
Debt/Equity
1.3
52W Range
$10 – $27
VERX Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view
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10-Year Performance Revenue, net income, margins and EPS trends
Revenue & Net Income
$748M
2020-12-31
→
2025-12-31
EPS
—
Free Cash Flow
—
2020-12-31
→
2023-12-31
Margins
0.96%
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
VERX
Peer Median
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Metric
5Y trend
VERX
Peer Median
Gross Margin
64.3%
60.2%
Operating Margin
0.31%
—
Net Profit Margin
0.96%
-1.1%
ROA
0.59%
-0.69%
ROE
2.8%
-4.6%
ROIC
0.37%
—
Financial Health Debt, liquidity, solvency — balance sheet strength
Metric
5Y trend
VERX
Peer Median
Debt / Equity
1.3
—
Current Ratio
1.0
2.1
Quick Ratio
0.9
—
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Metric
5Y trend
VERX
Peer Median
Revenue YoY
12.2%
—
Revenue CAGR 3Y
15.0%
—
Revenue CAGR 5Y
14.8%
—
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
Metric
5Y trend
VERX
Peer Median
VERX Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
BUY
22 analysts
- Strong Buy 5 22.7%
- Buy 7 31.8%
- Hold 10 45.5%
- Sell 0 0.0%
- Strong Sell 0 0.0%
12-Month Price Target
13 analysts · 2026-08-15
Median
$16.00
Mean
$17.15
Now
$13.49
Low
$12.00
High
$25.00
Median target
$16.00
+18.6%
Mean target
$17.15
+27.2%
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
0.01%
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| June 30, 2026 | $0.20 | $0.19 | 0.01% |
| March 31, 2026 | $0.17 | $0.17 | 0.00% |
| Dec. 31, 2025 | $0.17 | $0.17 | 0.00% |
| Sept. 30, 2025 | $0.17 | $0.16 | 0.01% |
| June 30, 2025 | $0.15 | $0.14 | 0.01% |
| March 31, 2025 | $0.15 | $0.14 | 0.01% |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| VERX | — | — | 12.2% | 0.96% | 2.8% | 64.3% |
| ASAN | $2.44B | -12.8 | 9.2% | -23.9% | -99.8% | 89.0% |
| ALKT | $2.45B | -50.2 | 32.9% | -10.7% | -13.5% | 57.8% |
| BLKB | $2.96B | 26.7 | -2.3% | 10.2% | 145.7% | 58.8% |
| KEEL | — | — | 72.0% | -124.1% | -48.6% | -8.2% |
| PRCH | $1.13B | -304.3 | 10.2% | -0.70% | 9.9% | 70.5% |
| BL | $3.31B | 141.8 | 7.2% | 3.5% | 6.6% | 75.2% |
| EVCM | $2.16B | 121.1 | 4.8% | 3.0% | 2.4% | — |
| VIA | $0 | -9.9 | 28.6% | -22.2% | 53.6% | 39.6% |
| PLTR | $425.03B | 282.1 | 56.2% | 36.3% | 26.2% | 82.4% |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement 12
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | $748M | $667M | $572M | $492M | $426M | $375M | $322M | $272M | |
| Cost of Revenue | $267M | $241M | $224M | $193M | $162M | $165M | $110M | $96M | |
| Gross Profit | $482M | $426M | $349M | $298M | $264M | $209M | $211M | $177M | |
| R&D Expense | $84M | $67M | $58M | $42M | $44M | $54M | $31M | $24M | |
| SG&A Expense | $179M | $153M | $146M | $122M | $107M | $149M | $71M | $59M | |
| Operating Expenses | $479M | $428M | $366M | $307M | $267M | $314M | $179M | $180M | |
| Operating Income | $2M | $-2M | $-18M | $-8M | $-3M | $-105M | $32M | $-3M | |
| Other Non-op | · | · | · | · | $-984.0K | $-3M | $-953.0K | $-2M | |
| Pretax Income | $8M | $2M | $-22M | $-10M | $-4M | $-108M | $31M | $-4M | |
| Income Tax | $368.0K | $55M | $-9M | $2M | $-2M | $-33M | $-155.0K | $2M | |
| Net Income | $7M | $-53M | $-13M | $-12M | $-1M | $-75M | $31M | $-6M | |
| EBITDA | $2M | $-2M | $-18M | $-8M | $-3M | $-105M | · | · |
Balance Sheet 26
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $314M | $296M | $68M | $92M | $73M | $303M | $76M | $56M | |
| Receivables | $183M | $164M | $142M | $103M | $77M | $77M | $70M | $62M | |
| Prepaid Expense | $39M | $37M | $26M | $22M | $21M | $13M | $12M | · | |
| Other Current Assets | · | · | · | $12M | $8M | $7M | · | · | |
| Current Assets | $561M | $536M | $267M | $243M | $196M | $403M | $166M | · | |
| PP&E (Net) | · | · | $89M | $101M | $97M | $57M | $55M | · | |
| PP&E (Gross) | · | · | $264M | $283M | $247M | $176M | $156M | · | |
| Accum. Depreciation | · | · | $163M | $182M | $148M | $119M | $102M | · | |
| Goodwill | $392M | $358M | $258M | $252M | $270M | $16M | $0 | · | |
| Intangibles | · | · | · | · | · | $2M | · | · | |
| Other Non-current Assets | $12M | $14M | $16M | $15M | $4M | $3M | $849.0K | · | |
| Total Assets | $1.27B | $1.17B | $760M | $719M | $670M | $559M | $265M | · | |
| Accounts Payable | $38M | $36M | $24M | $14M | $13M | $9M | $11M | · | |
| Accrued Liabilities | $44M | $35M | $45M | $38M | $23M | $19M | $13M | · | |
| Current Liabilities | $575M | $537M | $441M | $403M | $369M | $292M | $335M | · | |
| Capital Leases | $9M | $13M | $17M | $20M | $24M | $225.0K | · | · | |
| Deferred Tax | $6M | $10M | · | · | · | · | · | · | |
| Total Liabilities | $1.01B | $987M | $507M | $489M | $440M | $329M | $377M | · | |
| Long-term Debt | $337M | $335M | $47M | $49M | · | $1M | $51M | · | |
| Total Debt | $337M | $335M | $47M | $49M | · | $1M | · | · | |
| Paid-in Capital | $316M | $278M | $275M | $245M | $223M | $207M | · | · | |
| Retained Earnings | $-46M | $-53M | $-586.0K | $13M | $25M | $26M | $-91M | · | |
| Treasury Stock | $10M | · | · | · | · | · | $39M | · | |
| AOCI | $-1M | $-46M | $-22M | $-28M | $-17M | $-3M | $-491.0K | · | |
| Stockholders' Equity | $259M | $179M | $253M | $230M | $230M | $229M | $-130M | · | |
| Liabilities + Equity | $1.27B | $1.17B | $760M | $719M | $670M | $559M | $265M | · |
Cash Flow 17
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
| D&A | $97M | $83M | $72M | $61M | $45M | $32M | $25M | $25M | |
| Stock-based Comp | $58M | $47M | $34M | $20M | $26M | $148M | $9M | $5M | |
| Deferred Tax | $-5M | $51M | $-12M | $-1M | $-3M | $-33M | $-848.0K | $847.0K | |
| Amort. of Intangibles | $2M | $3M | $3M | $4M | $1M | $443.0K | · | · | |
| Operating Cash Flow | $166M | $165M | $74M | $64M | $90M | $60M | $92M | $80M | |
| CapEx | · | $72M | $49M | $46M | $32M | $21M | $20M | $21M | |
| Investing Cash Flow | $-124M | $-158M | $-66M | $-72M | $-295M | $-44M | $-38M | $-33M | |
| Debt Issued | · | · | · | · | · | $175M | · | · | |
| Net Debt Issued | · | $-47M | $-2M | $-938.0K | · | $-51M | · | · | |
| Stock Issued | · | · | · | · | · | $423M | · | · | |
| Stock Repurchased | $10M | · | · | · | · | · | $841.0K | $1M | |
| Net Stock Activity | $-10M | · | · | · | · | $423M | · | · | |
| Dividends Paid | · | · | · | · | · | $146M | $29M | $28M | |
| Financing Cash Flow | $-33M | $231M | $-26M | $17M | $-9M | $214M | $-31M | $-31M | |
| Net Change in Cash | $12M | $237M | $-18M | $9M | $-214M | $229M | $24M | $16M | |
| Taxes Paid | $2M | $9M | $6M | $3M | $1M | $588.0K | $945.0K | $668.0K | |
| Free Cash Flow | · | · | $25M | $18M | $59M | $39M | · | · |
Profitability 8
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 64.3% | 63.9% | 60.9% | 60.7% | 62.0% | 55.9% | · | · | |
| Operating Margin | 0.31% | -0.33% | -3.1% | -1.6% | -0.69% | -28.0% | · | · | |
| Net Margin | 0.96% | -7.9% | -2.3% | -2.5% | -0.35% | -21.1% | · | · | |
| Pretax Margin | 1.0% | 0.29% | -3.8% | -2.1% | -0.92% | -28.8% | · | · | |
| EBITDA Margin | 0.31% | -0.33% | -3.1% | -1.6% | -0.69% | -28.0% | · | · | |
| ROA | 0.59% | -5.5% | -1.8% | -1.8% | -0.22% | -14.7% | · | · | |
| ROE | 2.8% | -24.1% | -5.4% | -5.3% | -0.65% | -35.2% | · | · | |
| ROIC | 0.37% | 12.0% | -3.5% | -3.5% | -0.48% | -33.8% | · | · |
Liquidity & Solvency 4
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.0 | 1.0 | 0.6 | 0.6 | 0.5 | 1.4 | · | · | |
| Quick Ratio | 0.9 | 0.9 | 0.5 | 0.5 | 0.4 | 1.3 | · | · | |
| Debt / Equity | 1.3 | 1.9 | 0.2 | 0.2 | · | 0.0 | · | · | |
| LT Debt / Equity | 1.3 | 1.9 | 0.2 | 0.2 | · | 0.0 | · | · |
Efficiency 2
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.6 | 0.7 | 0.8 | 0.7 | 0.6 | 0.7 | · | · | |
| Receivables Turnover | 4.3 | 4.4 | 4.7 | 5.5 | 5.5 | 4.9 | · | · |
Growth Rates 3
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue YoY | 12.2% | 16.5% | 16.4% | 15.5% | 13.6% | · | · | · | |
| Revenue CAGR 3Y | 15.0% | 16.2% | 15.2% | · | · | · | · | · | |
| Revenue CAGR 5Y | 14.8% | · | · | · | · | · | · | · |
Valuation (TTM) 4
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $748M | $667M | $572M | $492M | $426M | $375M | · | · | |
| Net Income TTM | $7M | $-53M | $-13M | $-12M | $-1M | $-75M | · | · | |
| Payout Ratio | · | · | · | · | · | -185.1% | · | · | |
| Annual Payout | · | · | · | · | · | $146M | · | · |
Income Statement 11
| 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 | $204M | $197M | $195M | $192M | $185M | $177M | $178M | $170M | $161M | $157M | $155M | $145M | $140M | $133M | $131M | $126M | |
| Cost of Revenue | $73M | $72M | $69M | $71M | $63M | $64M | $61M | $60M | $58M | $61M | $61M | $57M | $54M | $52M | $49M | $51M | |
| Gross Profit | $131M | $125M | $126M | $121M | $121M | $113M | $117M | $111M | $103M | $96M | $94M | $88M | $86M | $81M | $82M | $76M | |
| R&D Expense | $25M | $25M | $22M | $20M | $21M | $21M | $20M | $16M | $15M | $17M | $13M | $17M | $13M | $16M | $12M | $10M | |
| SG&A Expense | $51M | $54M | $46M | $45M | $43M | $45M | $40M | $41M | $36M | $36M | $37M | $35M | $39M | $34M | $31M | $32M | |
| Operating Expenses | $136M | $135M | $129M | $117M | $125M | $109M | $130M | $106M | $95M | $97M | $96M | $90M | $90M | $90M | $85M | $76M | |
| Operating Income | $-4M | $-11M | $-3M | $4M | $-4M | $4M | $-13M | $5M | $8M | $-2M | $-2M | $-2M | $-4M | $-9M | $-3M | $-871.0K | |
| Pretax Income | $-4M | $-10M | $-1M | $6M | $-3M | $6M | $-11M | $8M | $7M | $-2M | $-7M | $-3M | $-4M | $-9M | $-4M | $-1M | |
| Income Tax | $-13M | $-7M | $6M | $2M | $-2M | $-5M | $56M | $613.0K | $2M | $-5M | $-22M | $784.0K | $3M | $10M | $957.0K | $-91.0K | |
| Net Income | $9M | $-3M | $-7M | $4M | $-961.0K | $11M | $-68M | $7M | $5M | $3M | $15M | $-3M | $-7M | $-18M | $-5M | $-1M | |
| EBITDA | $-4M | $-11M | · | $4M | $-4M | $4M | · | $5M | $8M | $-2M | · | $-2M | $-4M | $-9M | · | $-871.0K |
Balance Sheet 25
| 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 | $230M | $252M | $314M | $314M | $284M | $270M | $296M | $279M | $326M | $56M | $68M | $49M | $42M | $69M | $92M | $72M | |
| Receivables | $153M | $159M | $183M | $132M | $144M | $152M | $164M | $130M | $120M | $133M | $142M | $129M | $129M | $103M | $103M | $95M | |
| Prepaid Expense | $82M | $59M | $39M | $49M | $48M | $49M | $37M | $34M | $25M | $32M | · | $20M | $22M | $23M | · | $22M | |
| Other Current Assets | · | · | · | · | · | · | · | · | · | · | · | · | · | $12M | · | $10M | |
| Current Assets | $492M | $489M | $561M | $519M | $503M | $505M | $536M | $477M | $515M | $267M | · | $238M | $234M | $231M | · | $219M | |
| PP&E (Net) | · | · | · | · | · | · | · | $168M | $99M | $101M | · | $100M | $99M | $117M | · | $109M | |
| PP&E (Gross) | · | · | · | · | · | · | · | · | · | $275M | · | $249M | $236M | $312M | · | $280M | |
| Accum. Depreciation | · | · | · | · | · | · | · | · | · | $175M | · | $148M | $137M | $194M | · | $171M | |
| Goodwill | $400M | $402M | $392M | $393M | $393M | $369M | $358M | $382M | $251M | $254M | $258M | $251M | $256M | $255M | $252M | $239M | |
| Other Non-current Assets | $8M | $10M | $12M | $13M | $13M | $14M | $14M | $14M | $14M | $15M | · | $15M | $17M | $3M | · | $2M | |
| Total Assets | $1.21B | $1.21B | $1.27B | $1.22B | $1.20B | $1.15B | $1.17B | $1.19B | $1.02B | $756M | · | $720M | $725M | $726M | · | $677M | |
| Accounts Payable | $37M | $36M | $38M | $35M | $30M | $25M | $36M | $29M | $24M | $22M | · | $24M | $22M | $17M | · | $13M | |
| Accrued Liabilities | $35M | $37M | $44M | $40M | $42M | $38M | $35M | $45M | $42M | $37M | · | $50M | $56M | $56M | · | $29M | |
| Current Liabilities | $564M | $567M | $575M | $516M | $506M | $513M | $537M | $458M | $439M | $443M | · | $433M | $431M | $422M | · | $374M | |
| Capital Leases | $7M | $8M | $9M | $10M | $11M | $11M | $13M | $14M | $14M | $16M | · | $17M | $18M | $20M | · | $21M | |
| Deferred Tax | $13M | $9M | $6M | $8M | $9M | $9M | $10M | $16M | · | · | · | · | · | · | · | · | |
| Total Liabilities | $969M | $968M | $1.01B | $957M | $950M | $954M | $987M | $932M | $791M | $506M | · | $500M | $499M | $502M | · | $463M | |
| Long-term Debt | $339M | $338M | $337M | $337M | $336M | $336M | $335M | $335M | $334M | $46M | · | $47M | $48M | $49M | · | $49M | |
| Total Debt | $339M | $338M | · | $337M | $336M | $336M | · | $335M | $334M | $46M | · | $47M | $48M | $49M | · | $49M | |
| Paid-in Capital | $348M | $333M | $316M | $304M | $292M | $273M | $278M | $264M | $255M | $274M | · | $265M | $262M | $254M | · | $238M | |
| Retained Earnings | $-40M | $-49M | $-46M | $-39M | $-43M | $-42M | $-53M | $14M | $7M | $2M | · | $-16M | $-13M | $-6M | · | $18M | |
| Treasury Stock | $57M | $30M | $10M | · | · | · | · | · | · | · | · | · | · | · | · | · | |
| AOCI | $-11M | $-8M | $-1M | $-763.0K | $-1M | $-31M | $-46M | $-20M | $-29M | $-26M | · | $-29M | $-24M | $-25M | · | $-42M | |
| Stockholders' Equity | $241M | $247M | $259M | $264M | $248M | $200M | $179M | $259M | $233M | $250M | $253M | $220M | $226M | $223M | · | $214M | |
| Liabilities + Equity | $1.21B | $1.21B | $1.27B | $1.22B | $1.20B | $1.15B | $1.17B | $1.19B | $1.02B | $756M | · | $720M | $725M | $726M | · | $677M |
Cash Flow 14
| 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 | $29M | $27M | $26M | $25M | $23M | $22M | $21M | $20M | $20M | $21M | $19M | $18M | $17M | $17M | $16M | $15M | |
| Stock-based Comp | $14M | $19M | $12M | $13M | $12M | $21M | $11M | $10M | $10M | $16M | $8M | $8M | $7M | $11M | $5M | $5M | |
| Deferred Tax | $4M | $2M | $-2M | $-1M | $-712.0K | $-929.0K | $60M | $1M | $-7M | $-3M | $-2M | $2M | $653.0K | $-13M | $-1M | $68.0K | |
| Amort. of Intangibles | · | $525.0K | $587.0K | $588.0K | $571.0K | $531.0K | $636.0K | $761.0K | $650.0K | $656.0K | $657.0K | $657.0K | $746.0K | $824.0K | $813.0K | $813.0K | |
| Operating Cash Flow | $31M | $38M | $42M | $62M | $46M | $15M | $41M | $41M | $58M | $25M | $48M | $28M | $-8M | $3M | $40M | $9M | |
| CapEx | $0 | $22M | · | · | · | · | $0 | $66M | $-8M | $14M | · | $13M | $9M | $10M | · | $6M | |
| Investing Cash Flow | $-28M | $-52M | $-32M | $-32M | $-41M | $-18M | $-25M | $-85M | $-28M | $-20M | $-20M | $-16M | $-13M | $-14M | $-22M | $-9M | |
| Net Debt Issued | · | · | · | · | · | · | · | · | · | $-625.0K | · | · | · | $-313.0K | · | · | |
| Stock Repurchased | $27M | $20M | · | · | · | · | · | · | · | · | · | · | · | · | · | · | |
| Net Stock Activity | · | $-20M | · | · | · | · | · | · | · | · | · | · | · | · | · | · | |
| Financing Cash Flow | $-16M | $-53M | $-11M | $-2M | $496.0K | $-21M | $6M | $-13M | $239M | $-1M | $-20M | $-3M | $-2M | $-2M | $-9M | $-9M | |
| Net Change in Cash | $-13M | $-68M | $-498.0K | $28M | $7M | $-22M | $21M | $-56M | $268M | $4M | $8M | $9M | $-23M | $-12M | $11M | $-9M | |
| Taxes Paid | · | · | · | · | · | · | · | · | · | · | · | · | · | · | $404.0K | $733.0K | |
| Free Cash Flow | · | $16M | · | · | · | · | · | · | · | $10M | · | · | · | $-7M | · | · |
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 | 64.4% | 63.5% | · | 63.1% | 65.7% | 63.8% | · | 64.8% | 63.7% | 61.1% | · | 60.8% | 61.4% | 61.0% | · | 59.9% | |
| Operating Margin | -2.2% | -5.4% | · | 2.2% | -2.1% | 2.5% | · | 2.9% | 4.7% | -1.0% | · | -1.4% | -2.9% | -6.7% | · | -0.69% | |
| Net Margin | 4.4% | -1.3% | · | 2.1% | -0.52% | 6.3% | · | 4.2% | 3.2% | 1.7% | · | -2.3% | -4.9% | -13.7% | · | -0.90% | |
| Pretax Margin | -2.0% | -4.9% | · | 2.9% | -1.4% | 3.4% | · | 4.6% | 4.6% | -1.2% | · | -1.8% | -2.8% | -6.5% | · | -0.98% | |
| EBITDA Margin | -2.2% | -5.4% | · | 2.2% | -2.1% | 2.5% | · | 2.9% | 4.7% | -1.0% | · | -1.4% | -2.9% | -6.7% | · | -0.69% | |
| ROA | 0.75% | -0.21% | · | 0.34% | -0.09% | 1.2% | · | 0.76% | 0.59% | 0.36% | · | -0.49% | -0.97% | -2.5% | · | -0.17% | |
| ROE | 3.7% | -1.1% | · | 1.6% | -0.40% | 4.9% | · | 3.0% | 2.2% | 1.1% | · | -1.6% | -3.1% | -8.0% | · | -0.52% | |
| ROIC | 1.7% | -0.47% | · | 0.52% | -0.24% | 1.6% | · | 0.76% | 0.93% | 0.77% | · | -0.98% | -2.6% | -6.9% | · | -0.31% |
Liquidity & Solvency 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.9 | 0.9 | · | 1.0 | 1.0 | 1.0 | · | 1.0 | 1.2 | 0.6 | · | 0.5 | 0.5 | 0.5 | · | 0.6 | |
| Quick Ratio | 0.7 | 0.7 | · | 0.9 | 0.8 | 0.8 | · | 0.9 | 1.0 | 0.4 | · | 0.4 | 0.4 | 0.4 | · | 0.4 | |
| Debt / Equity | 1.4 | 1.4 | · | 1.3 | 1.4 | 1.7 | · | 1.3 | 1.4 | 0.2 | · | 0.2 | 0.2 | 0.2 | · | 0.2 | |
| LT Debt / Equity | 1.4 | 1.4 | · | 1.3 | 1.4 | 1.7 | · | 1.3 | 1.4 | 0.2 | · | 0.2 | 0.2 | 0.2 | · | 0.2 |
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 | 0.2 | 0.2 | · | 0.2 | 0.2 | 0.2 | · | 0.2 | 0.2 | 0.2 | · | 0.2 | 0.2 | 0.2 | · | 0.2 | |
| Receivables Turnover | 1.4 | 1.3 | · | 1.5 | 1.4 | 1.2 | · | 1.3 | 1.3 | 1.3 | · | 1.3 | 1.3 | 1.5 | · | 1.5 |
Valuation (TTM) 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $777M | $750M | · | $724M | $693M | $665M | · | $633M | $603M | $574M | · | $544M | $518M | $493M | · | $471M | |
| Net Income TTM | $10M | $12M | · | $21M | $23M | $26M | · | $12M | $-2M | $-26M | · | $-30M | $-32M | $-25M | · | $-11M |
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 | $748M | $667M | $572M | $492M | $426M |
| Gross Margin % | 64.3% | 63.9% | 60.9% | 60.7% | 62.0% |
| Operating Margin % | 0.31% | -0.33% | -3.1% | -1.6% | -0.69% |
| Net Income | $7M | $-53M | $-13M | $-12M | $-1M |
Balance Sheet
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Debt / Equity | 1.3 | 1.9 | 0.2 | 0.2 | — |
| Current Ratio | 1.0 | 1.0 | 0.6 | 0.6 | 0.5 |
| Quick Ratio | 0.9 | 0.9 | 0.5 | 0.5 | 0.4 |
Cash Flow
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Free Cash Flow | — | — | $25M | $18M | $59M |
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Institutional owners (13F) 256 filers · $631.0M 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 |
|---|---|---|---|---|
| 55 (-7 vs prior Q) | 35 (-17 vs prior Q) | 76 (+4 vs prior Q) | 73 (+6 vs prior Q) | -5.8M |
Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.
| Institution | Value | Shares | % of tracked 13F | Type |
|---|---|---|---|---|
| VANGUARD PORTFOLIO MANAGEMENT LLC | $57,217,847 | 4,984,133 | 9.07% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $36,436,177 | 3,173,883 | 5.77% | Shares |
| Tensile Capital Management LP | $33,275,503 | 2,898,563 | 5.27% | Shares |
| UBS Group AG | $32,712,490 | 2,849,520 | 5.18% | Call option |
| WILLIAM BLAIR INVESTMENT MANAGEMENT, LLC | $24,433,711 | 2,128,372 | 3.87% | Shares |
| STATE STREET CORP | $23,649,024 | 2,060,692 | 3.75% | Shares |
| NOMURA HOLDINGS INC | $19,103,857 | 1,664,099 | 3.03% | Shares |
| Divisar Capital Management LLC | $18,837,475 | 1,640,895 | 2.99% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $17,969,891 | 1,564,943 | 2.85% | Shares |
| HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND | $17,070,760 | 1,487,000 | 2.71% | Shares |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | $16,908,812 | 1,472,893 | 2.68% | Shares |
| Legacy Advisors, LLC | $15,427,260 | 1,343,838 | 2.44% | Shares |
| NORGES BANK | $15,043,392 | 1,310,400 | 2.38% | Shares |
| CIBC WORLD MARKETS CORP | $14,071,701 | 704,642 | 2.23% | Shares |
| GENEVA CAPITAL MANAGEMENT LLC | $13,624,596 | 1,186,812 | 2.16% | Shares |
| CIBC Bancorp USA Inc. | $12,100,161 | 1,054,021 | 1.92% | Shares |
| CITIGROUP INC | $11,111,653 | 967,914 | 1.76% | Shares |
| CYPRESS POINT INVESTMENT MANAGEMENT LP | $10,931,394 | 952,212 | 1.73% | Shares |
| FMR LLC | $10,486,383 | 913,448 | 1.66% | Shares |
| BANK OF AMERICA CORP /DE/ | $9,851,068 | 858,107 | 1.56% | Shares |
| GAGNON SECURITIES LLC | $8,736,578 | 761,026 | 1.38% | Shares |
| TimesSquare Capital Management, LLC | $8,116,732 | 682,652 | 1.29% | Shares |
| BARCLAYS PLC | $8,044,622 | 700,751 | 1.27% | Shares |
| Qube Research & Technologies Ltd | $7,539,582 | 656,758 | 1.19% | Shares |
| Hyperion Capital Advisors LP | $7,232,400 | 630,000 | 1.15% | Shares |
| GOLDMAN SACHS GROUP INC | $7,200,359 | 627,209 | 1.14% | Shares |
| BANQUE PICTET & CIE SA | $6,290,753 | 547,975 | 1.00% | Shares |
| PALISADE CAPITAL MANAGEMENT, LP | $6,283,945 | 547,382 | 1.00% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $6,108,680 | 532,115 | 0.97% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $6,023,923 | 524,732 | 0.95% | Shares |
| Freshford Capital Management, LLC | $5,957,328 | 518,931 | 0.94% | Shares |
| KAYNE ANDERSON RUDNICK INVESTMENT MANAGEMENT LLC | $5,238,714 | 456,334 | 0.83% | Shares |
| NEW YORK STATE COMMON RETIREMENT FUND | $4,992,055 | 434,848 | 0.79% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $4,671,212 | 406,900 | 0.74% | Call option |
| JANE STREET GROUP, LLC | $4,519,527 | 393,687 | 0.72% | Shares |
| Voleon Capital Management LP | $4,517,472 | 393,508 | 0.72% | Shares |
| BROWN CAPITAL MANAGEMENT LLC | $4,291,500 | 373,824 | 0.68% | Shares |
| Gagnon Advisors, LLC | $4,151,409 | 361,621 | 0.66% | Shares |
| EFG Asset Management (North America) Corp. | $3,706,233 | 149,475 | 0.59% | Shares |
| ING GROEP NV | $3,673,600 | 320,000 | 0.58% | Shares |
| Pier Capital, LLC | $3,628,495 | 316,071 | 0.58% | Shares |
| TWO SIGMA INVESTMENTS, LP | $3,507,209 | 305,506 | 0.56% | Shares |
| Y-Intercept (Hong Kong) Ltd | $3,484,203 | 303,502 | 0.55% | Shares |
| HERALD INVESTMENT MANAGEMENT Ltd | $3,441,000 | 300,000 | 0.55% | Shares |
| Quantinno Capital Management LP | $3,395,910 | 295,811 | 0.54% | Shares |
| TUDOR INVESTMENT CORP ET AL | $3,199,694 | 278,719 | 0.51% | Shares |
| KORNITZER CAPITAL MANAGEMENT INC /KS | $3,058,720 | 266,439 | 0.48% | Shares |
| Saba Capital Management, L.P. | $3,024,682 | 263,474 | 0.48% | Shares |
| JANE STREET GROUP, LLC | $2,995,132 | 260,900 | 0.47% | Call option |
| NORTH STAR ASSET MANAGEMENT INC | $2,899,182 | 252,542 | 0.46% | Shares |
| BNP PARIBAS FINANCIAL MARKETS | $2,569,614 | 223,834 | 0.41% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $2,421,672 | 210,947 | 0.38% | Shares |
| D. E. Shaw & Co., Inc. | $2,347,258 | 204,465 | 0.37% | Shares |
| HSBC HOLDINGS PLC | $2,182,038 | 189,413 | 0.35% | Shares |
| KENNEDY CAPITAL MANAGEMENT LLC | $2,174,806 | 189,443 | 0.34% | Shares |
| XTX Topco Ltd | $2,156,874 | 187,881 | 0.34% | Shares |
| Banco Santander, S.A. | $2,007,002 | 174,826 | 0.32% | Shares |
| AMERIPRISE FINANCIAL INC | $1,831,691 | 159,555 | 0.29% | Shares |
| Corient Private Wealth LP | $1,766,084 | 153,840 | 0.28% | Shares |
| Trexquant Investment LP | $1,744,593 | 151,968 | 0.28% | Shares |
| Caption Management, LLC | $1,722,000 | 150,000 | 0.27% | Call option |
| Advantage Alpha Capital Partners LP | $1,716,162 | 69,228 | 0.27% | Shares |
| Swiss National Bank | $1,702,484 | 148,300 | 0.27% | Shares |
| Whetstone Capital Advisors, LLC | $1,562,635 | 136,118 | 0.25% | Shares |
| MIZUHO MARKETS AMERICAS LLC | $1,468,602 | 127,927 | 0.23% | Shares |
| CITADEL ADVISORS LLC | $1,398,620 | 121,831 | 0.22% | Shares |
| BlackRock, Inc. | $1,382,881 | 120,460 | 0.22% | Shares |
| MILLENNIUM MANAGEMENT LLC | $1,326,893 | 115,583 | 0.21% | Shares |
| Palogic Value Management, L.P. | $1,264,522 | 110,150 | 0.20% | Shares |
| RHUMBLINE ADVISERS | $1,146,405 | 99,862 | 0.18% | Shares |
| Redwood Investments, LLC | $1,125,746 | 32,155 | 0.18% | Shares |
| FRED ALGER MANAGEMENT, LLC | $1,121,527 | 97,694 | 0.18% | Shares |
| Engineers Gate Manager LP | $1,013,891 | 88,318 | 0.16% | Shares |
| H D Vest Advisory Services | $946,412 | 26,784 | 0.15% | Shares |
| Squarepoint Ops LLC | $937,514 | 81,665 | 0.15% | Shares |
| Campbell & CO Investment Adviser LLC | $896,358 | 78,080 | 0.14% | Shares |
| Orion Portfolio Solutions, LLC | $866,778 | 24,758 | 0.14% | Shares |
| ALLIANCEBERNSTEIN L.P. | $839,803 | 70,631 | 0.13% | Shares |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM | $811,695 | 68,267 | 0.13% | Shares |
| WELLS FARGO & COMPANY/MN | $793,245 | 69,098 | 0.13% | Shares |
| Nuveen Asset Management, LLC | $769,040 | 14,415 | 0.12% | Shares |
| Bank of New York Mellon Corp | $760,768 | 66,269 | 0.12% | Shares |
| ENVESTNET ASSET MANAGEMENT INC | $758,415 | 66,064 | 0.12% | Shares |
| CITADEL ADVISORS LLC | $737,016 | 64,200 | 0.12% | Call option |
| STATE OF WISCONSIN INVESTMENT BOARD | $718,372 | 62,576 | 0.11% | Shares |
| Sculptor Capital LP | $679,616 | 59,200 | 0.11% | Shares |
| VARCOV Co. | $623,685 | 54,328 | 0.10% | Shares |
| VICTORY CAPITAL MANAGEMENT INC | $593,700 | 51,716 | 0.09% | Shares |
| Glenmede Investment Management, LP | $588,117 | 23,724 | 0.09% | Shares |
| Counterpoint Mutual Funds LLC | $557,733 | 48,583 | 0.09% | Shares |
| VANGUARD ASSET MANAGEMENT, Ltd | $553,370 | 48,203 | 0.09% | Shares |
| ALLSTATE CORP | $546,861 | 47,636 | 0.09% | Shares |
| TWINBEECH CAPITAL LP | $529,802 | 46,150 | 0.08% | Shares |
| CIBC WORLD MARKET INC. | $484,456 | 42,200 | 0.08% | Shares |
| MetLife Investment Management, LLC | $483,538 | 42,120 | 0.08% | Shares |
| LAZARD ASSET MANAGEMENT LLC | $473,378 | 41,235 | 0.08% | Shares |
| Caption Management, LLC | $472,505 | 41,159 | 0.07% | Shares |
| RENAISSANCE TECHNOLOGIES LLC | $455,756 | 39,700 | 0.07% | Shares |
| DARK FOREST CAPITAL MANAGEMENT LP | $450,820 | 39,270 | 0.07% | Shares |
| FRANKLIN RESOURCES INC | $443,139 | 38,601 | 0.07% | Shares |
Company insiders 18 insiders · 1 officers · 10 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Lisa Butler | Chief Accounting Officer | April 5, 2021 M | 96,239 | 0 | 0 | $0 |
| Mark J Mendola | Director | June 10, 2026 A | 20,965 | 0 | 0 | $0 |
| John Richard Stamm | Director | June 10, 2026 A | 32,685 | 0 | 0 | $0 |
| David Destefano | Director | June 10, 2026 A | 1,271,155 | 0 | 1 | $-82,365 |
| Amanda Westphal Radcliffe | Director | June 10, 2026 A | 159,030 | 0 | 0 | $0 |
| Stefanie Westphal Thompson | Director | June 10, 2026 A | 66,995 | 0 | 0 | $0 |
| Bradley M Gayton | Director | June 10, 2026 A | 68,500 | 0 | 0 | $0 |
| Eric C. Andersen | Director | June 10, 2026 A | 165,979 | 0 | 0 | $0 |
| Philip Seth Saunders | Director | June 10, 2026 A | 50,606 | 0 | 0 | $0 |
| Terrence Kyle | Director | May 11, 2021 A | 56,011 | 0 | 0 | $0 |
| Kevin L Robert | Director | May 11, 2021 A | 28,232 | 0 | 0 | $0 |
| ITEM SECOND IRR. TRUST FBO KYLE R. WESTPHAL u/a of JEFFREY R. WESTPHAL dated October 5, 2001 | 10% owner | March 9, 2026 P | 1,221,100 | 1 | 0 | $150,500 |
| ITEM SECOND IRR. TRUST FBO ANNE MARIE WESTPHAL u/a of JEFFREY R. WESTPHAL dated October 5, 2001 | 10% owner | June 24, 2025 S | 173,074 | 0 | 0 | $0 |
| ITEM SECOND IRR. TRUST FBO JACOB J. WESTPHAL u/a of JEFFREY R. WESTPHAL dated October 5, 2001 | 10% owner | Dec. 23, 2024 G | 745,706 | 0 | 0 | $0 |
| 2020 IRREVOCABLE TRUST FOR BENEFIT OF NICHOLAS A. SHUHAN | 10% owner | March 27, 2024 S | 0 | 0 | 0 | $0 |
| Tensile Capital Management LP | 10% owner | Nov. 10, 2023 S | 5,396,299 | 0 | 0 | $0 |
| John R Schwab | — | Feb. 23, 2026 M | 132,271 | 0 | 0 | $0 |
| Jeffery Westphal | — | Feb. 17, 2026 P | 397,740 | 2 | 0 | $5,119,939 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
ETF ownership Held by 40 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 |
|---|---|---|---|---|
| FINX · Global X Funds | 0.18% | 26,950 NS | May 31, 2026 | N-PORT |
| HAPS · Harbor ETF Trust | 0.16% | 20,897 NS | April 30, 2026 | N-PORT |
| ESSC · Strategy Shares | 0.06% | 1,157 NS | April 30, 2026 | N-PORT |
| BBSC · J.P. Morgan Exchange-Traded Fund Tr… | 0.04% | 25,937 NS | April 30, 2026 | N-PORT |
| BKSE · BNY Mellon ETF Trust | 0.04% | 2,539 NS | April 30, 2026 | N-PORT |
| RSSL · Global X Funds | 0.03% | 30,413 NS | April 30, 2026 | N-PORT |
| ITWO · ProShares Trust | 0.02% | 3,303 NS | May 31, 2026 | N-PORT |
| SCHA · SCHWAB STRATEGIC TRUST | 0.02% | 350,829 NS | May 31, 2026 | N-PORT |
| RILA · Spinnaker ETF Series | 0.02% | 600 NS | April 30, 2026 | N-PORT |
| FTEC · FIDELITY COVINGTON TRUST | 0.02% | 227,997 NS | April 30, 2026 | N-PORT |
| DFAS · Dimensional ETF Trust | 0.02% | 175,996 NS | April 30, 2026 | N-PORT |
| UWM · ProShares Trust | 0.01% | 2,582 NS | May 31, 2026 | N-PORT |
| URTY · ProShares Trust | 0.01% | 2,615 NS | May 31, 2026 | N-PORT |
| MSSM · MORGAN STANLEY PATHWAY FUNDS | 0.00% | 2,750 NS | May 31, 2026 | N-PORT |
| AVSC · AMERICAN CENTURY ETF TRUST | 0.00% | 9,075 NS | May 31, 2026 | N-PORT |
| HDG · ProShares Trust | 0.00% | 66 NS | May 31, 2026 | N-PORT |
| DFSU · Dimensional ETF Trust | 0.00% | 3,402 NS | April 30, 2026 | N-PORT |
| SCHB · SCHWAB STRATEGIC TRUST | 0.00% | 44,513 NS | May 31, 2026 | N-PORT |
| TILT · FlexShares Trust | 0.00% | 1,386 NS | April 30, 2026 | N-PORT |
| DFUS · Dimensional ETF Trust | 0.00% | 9,387 NS | April 30, 2026 | N-PORT |
| DFAU · Dimensional ETF Trust | 0.00% | 1,040 NS | April 30, 2026 | N-PORT |
| VXF · VANGUARD INDEX FUNDS | — | — | July 15, 2026 | Daily |
| VB · VANGUARD INDEX FUNDS | — | — | July 15, 2026 | Daily |
| VBK · VANGUARD INDEX FUNDS | — | — | July 15, 2026 | Daily |
| VTI · VANGUARD INDEX FUNDS | — | — | July 15, 2026 | Daily |
| VFQY · 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 |
| IWV · iShares Trust | — | — | Aug. 18, 2026 | Daily |
| IWO · iShares Trust | — | — | Aug. 18, 2026 | Daily |
| IWM · iShares Trust | — | — | Aug. 18, 2026 | Daily |
| IGM · iShares Trust | — | — | Aug. 17, 2026 | Daily |
| IGV · iShares Trust | — | — | Aug. 18, 2026 | Daily |
| PRFZ · Invesco Exchange-Traded Fund Trust | — | — | July 13, 2026 | Daily |
| VGT · VANGUARD WORLD FUND | — | — | July 20, 2026 | Daily |
| ISCB · iShares Trust | — | — | July 20, 2026 | Daily |
| ISCG · iShares Trust | — | — | July 21, 2026 | Daily |
| TECB · iShares Trust | — | — | July 21, 2026 | Daily |