VMD Viemed Healthcare, Inc. - Common Shares
$9.12
Price · Aug 18, 2026
Fundamentals as of Aug 3, 2026
52W Range
$6–$13
47% of range
Analyst Rating
BUY
6 analysts
Price Target
$11
+21% upside
P/E (TTM)
25.0
ROE
10.9%
Net Profit Margin
5.5%
VMD Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$9.12
Market Cap
$351M
P/E (TTM)
25.0
EPS (TTM)
$0.37
Revenue (TTM)
$270M
Div Yield
—
ROE
10.9%
Debt/Equity
0.1
52W Range
$6 – $13
VMD 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
$270M
2019-12-31
→
2025-12-31
EPS
$0.37
2019-12-31
→
2025-12-31
Free Cash Flow
$12M
2020-12-31
→
2025-12-31
Margins
5.5%
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
VMD
Peer Median
P/E (TTM)
25.0
34.3
P/S (TTM)
1.3
2.1
P/B
2.5
1.9
EV / EBITDA
6.8
—
Price / FCF
29.5
—
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Metric
5Y trend
VMD
Peer Median
Gross Margin
57.5%
63.9%
Operating Margin
8.5%
—
Net Profit Margin
5.5%
2.5%
ROA
7.9%
2.7%
ROE
10.9%
7.1%
ROIC
10.5%
—
Financial Health Debt, liquidity, solvency — balance sheet strength
Metric
5Y trend
VMD
Peer Median
Debt / Equity
0.1
—
Current Ratio
1.2
1.0
Quick Ratio
1.0
—
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Metric
5Y trend
VMD
Peer Median
Revenue YoY
20.5%
—
Revenue CAGR 3Y
24.9%
—
Revenue CAGR 5Y
15.5%
—
EPS YoY
32.1%
—
Net Income YoY
32.6%
—
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
Metric
5Y trend
VMD
Peer Median
VMD Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
BUY
6 analysts
- Strong Buy 1 16.7%
- Buy 4 66.7%
- Hold 1 16.7%
- Sell 0 0.0%
- Strong Sell 0 0.0%
12-Month Price Target
1 analysts · 2026-08-13
Low
$11.00
High
$11.00
Median target
$11.00
+20.6%
Mean target
$11.00
+20.6%
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 | $0.07 | $0.12 | -0.05% |
| March 31, 2026 | $0.06 | $0.09 | -0.03% |
| Dec. 31, 2025 | $0.14 | $0.13 | 0.01% |
| Sept. 30, 2025 | $0.09 | $0.09 | -0.00% |
| June 30, 2025 | $0.08 | $0.08 | -0.00% |
| March 31, 2025 | $0.06 | $0.06 | -0.00% |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| VMD | $282M | 20.1 | 20.5% | 5.5% | 10.9% | 57.5% |
| SRTA | — | — | — | — | — | — |
| FLGT | $816M | -84.7 | 13.8% | -18.8% | -5.4% | 40.6% |
| NRC | — | 0.4 | -4.0% | — | — | — |
| NRC | — | 0.4 | -4.0% | — | — | — |
| SBC | — | — | — | — | — | — |
| BDSX | $56M | -1.5 | 24.1% | -39.9% | 5315.0% | — |
| CVS | $100.87B | 57.1 | 7.8% | 0.44% | 2.4% | — |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement 15
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | $270M | $224M | $183M | $139M | $117M | $131M | $80M | $64M | |
| Cost of Revenue | $115M | $91M | $70M | $54M | $44M | $51M | $24M | $17M | |
| Gross Profit | $155M | $133M | $113M | $85M | $73M | $80M | $56M | $48M | |
| R&D Expense | $3M | $3M | $3M | $3M | $2M | $1M | $848.0K | $0 | |
| SG&A Expense | $121M | $106M | $88M | $68M | $55M | $53M | $41M | $34M | |
| Operating Income | $23M | $18M | $14M | $8M | $12M | $27M | $9M | $10M | |
| Other Non-op | $252.0K | $-173.0K | $98.0K | $989.0K | $2M | $4M | $-3.0K | · | |
| Pretax Income | $22M | $16M | $14M | $9M | $13M | $26M | $9M | $10M | |
| Income Tax | $6M | $5M | $4M | $3M | $3M | $-5M | $271.0K | $162.0K | |
| Net Income | $15M | $11M | $10M | $6M | $9M | $32M | $9M | $10M | |
| EPS (Basic) | $0.38 | $0.29 | $0.27 | $0.16 | $0.23 | $0.81 | $0.23 | $0.25 | |
| EPS (Diluted) | $0.37 | $0.28 | $0.25 | $0.16 | $0.22 | $0.78 | $0.21 | $0.24 | |
| Shares (Basic) | 38,895,228 | 38,754,893 | 38,354,071 | 38,655,403 | 39,491,117 | 38,743,516 | 37,716,864 | 37,892,118 | |
| Shares (Diluted) | 40,823,823 | 40,805,085 | 40,378,922 | 39,807,434 | 40,680,947 | 40,525,737 | 39,747,509 | 39,677,704 | |
| EBITDA | $52M | $43M | $36M | $8M | $12M | $27M | · | · |
Balance Sheet 24
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $14M | $18M | $13M | $17M | $28M | $31M | $13M | $10M | |
| Receivables | $26M | $25M | $18M | $15M | $13M | $12M | $12M | $9M | |
| Inventory | $5M | $4M | $5M | $4M | $2M | $2M | $1M | $3M | |
| Prepaid Expense | $4M | $6M | $2M | $4M | $2M | $2M | $2M | $952.0K | |
| Current Assets | $48M | $53M | $38M | $40M | $47M | $47M | $28M | $23M | |
| PP&E (Net) | $79M | $76M | $74M | $68M | $63M | $55M | $55M | $31M | |
| Accum. Depreciation | $61M | $58M | $53M | $40M | $28M | $20M | $14M | $9M | |
| Goodwill | $59M | $33M | $30M | $0 | · | · | · | · | |
| Intangibles | $1M | $848.0K | $567.0K | $0 | · | · | · | · | |
| Other Non-current Assets | · | $0 | $887.0K | $2M | $862.0K | $863.0K | $0 | $0 | |
| Total Assets | $199M | $177M | $155M | $117M | $118M | $113M | $83M | $54M | |
| Accounts Payable | · | · | · | · | · | · | $2M | $1M | |
| Accrued Liabilities | $24M | $20M | $18M | $11M | $9M | $13M | $9M | $8M | |
| Current Liabilities | $41M | $37M | $32M | $19M | $18M | $23M | $26M | $20M | |
| Capital Leases | $2M | $2M | $2M | $199.0K | · | · | · | · | |
| Total Liabilities | $56M | $44M | $41M | $20M | $23M | $31M | $39M | $21M | |
| Long-term Debt | $12M | $4M | $7M | $0 | $6M | $8M | $9M | $0 | |
| Total Debt | $12M | $4M | $7M | $0 | $6M | $8M | · | · | |
| Common Stock | $17M | $23M | $19M | $15M | $14M | $9M | $3M | $71.0K | |
| Retained Earnings | $103M | $90M | $79M | $70M | $73M | $66M | $34M | $27M | |
| AOCI | · | · | · | $0 | $-278.0K | $-451.0K | $-157.0K | $0 | |
| Stockholders' Equity | $142M | $131M | $114M | $97M | $95M | $82M | $44M | $33M | |
| Liabilities + Equity | $199M | $177M | $155M | $117M | $118M | $113M | $83M | $54M | |
| Shares Outstanding | 38,019,082 | 39,132,897 | 38,506,161 | 38,049,739 | 39,640,388 | 39,185,182 | 37,952,660 | 37,500,815 |
Cash Flow 15
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
| D&A | $29M | $25M | $22M | $16M | · | · | · | · | |
| Stock-based Comp | $9M | $6M | $6M | $5M | $5M | $5M | $4M | $3M | |
| Deferred Tax | $3M | $-4M | $-1M | $2M | $4M | $-9M | $0 | $0 | |
| Amort. of Intangibles | $200.0K | $100.0K | $100.0K | · | · | · | · | · | |
| Other Non-cash | $-4M | $11.0K | $9M | · | · | · | · | · | |
| Operating Cash Flow | $52M | $39M | $45M | $28M | $22M | $35M | $19M | $22M | |
| CapEx | $40M | $38M | $26M | $23M | $20M | $13M | $13M | $6M | |
| Investing Cash Flow | $-50M | $-31M | $-52M | $-24M | $-20M | $-8M | $-13M | $-5M | |
| Debt Issued | · | · | · | · | · | · | $5M | $0 | |
| Stock Repurchased | $13M | $0 | $0 | $10M | $0 | $0 | $2M | $2M | |
| Net Stock Activity | $-13M | $0 | $0 | $-10M | $-1M | $0 | · | · | |
| Financing Cash Flow | $-6M | $-4M | $3M | $-15M | $-5M | $-9M | $-3M | $-12M | |
| Net Change in Cash | $-4M | $5M | $-4M | $-11M | $-3M | $18M | $3M | $5M | |
| Taxes Paid | $7M | $7M | $4M | $-846.0K | $2M | $3M | $338.0K | $151.0K | |
| Free Cash Flow | $12M | $1M | $19M | $5M | $3M | $22M | · | · |
Profitability 8
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 57.5% | 59.4% | 61.6% | 61.0% | 62.7% | 61.0% | · | · | |
| Operating Margin | 8.5% | 8.0% | 7.8% | 5.9% | 9.9% | 20.4% | · | · | |
| Net Margin | 5.5% | 5.0% | 5.6% | 4.5% | 7.8% | 24.0% | · | · | |
| Pretax Margin | 8.1% | 7.2% | 7.9% | 6.5% | 10.7% | 20.1% | · | · | |
| EBITDA Margin | 19.1% | 19.3% | 19.8% | 5.9% | 9.9% | 20.4% | · | · | |
| ROA | 7.9% | 6.8% | 7.5% | 5.3% | 7.9% | 32.3% | · | · | |
| ROE | 10.9% | 9.2% | 9.4% | 6.5% | 9.9% | 40.2% | · | · | |
| ROIC | 10.5% | 9.3% | 8.4% | 5.9% | 8.4% | 35.9% | · | · |
Liquidity & Solvency 4
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.2 | 1.4 | 1.2 | 2.1 | 2.7 | 2.0 | · | · | |
| Quick Ratio | 1.0 | 1.1 | 1.0 | 1.7 | 2.3 | 1.9 | · | · | |
| Debt / Equity | 0.1 | 0.0 | 0.1 | 0.0 | 0.1 | 0.1 | · | · | |
| LT Debt / Equity | 0.1 | 0.0 | 0.1 | 0.0 | 0.0 | 0.1 | · | · |
Efficiency 3
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 1.4 | 1.4 | 1.3 | 1.2 | 1.0 | 1.3 | · | · | |
| Inventory Turnover | 24.5 | 20.4 | 17.1 | 18.0 | 18.3 | 27.9 | · | · | |
| Receivables Turnover | 10.7 | 10.3 | 10.8 | 9.8 | 9.3 | 11.0 | · | · |
Growth Rates 9
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue YoY | 20.5% | 22.5% | 31.8% | 18.6% | -10.8% | · | · | · | |
| Revenue CAGR 3Y | 24.9% | 24.2% | 11.7% | · | · | · | · | · | |
| Revenue CAGR 5Y | 15.5% | · | · | · | · | · | · | · | |
| EPS YoY | 32.1% | 12.0% | 56.2% | -27.3% | -71.8% | · | · | · | |
| EPS CAGR 3Y | 32.2% | 8.4% | -31.6% | · | · | · | · | · | |
| EPS CAGR 5Y | -13.9% | · | · | · | · | · | · | · | |
| Net Income YoY | 32.6% | 10.0% | 64.6% | -31.8% | -71.1% | · | · | · | |
| Net Income CAGR 3Y | 33.9% | 7.3% | -31.3% | · | · | · | · | · | |
| Net Income CAGR 5Y | -13.9% | · | · | · | · | · | · | · |
Valuation (TTM) 14
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $270M | $224M | $183M | $139M | $117M | $131M | $80M | · | |
| Net Income TTM | $15M | $11M | $10M | $6M | $9M | $32M | $9M | · | |
| Market Cap | $282M | $314M | $302M | $288M | $207M | $304M | · | · | |
| Enterprise Value | $281M | $300M | $297M | $271M | $184M | $281M | · | · | |
| P/E | 20.1 | 28.6 | 31.4 | 47.2 | 23.7 | 9.9 | 29.5 | · | |
| P/S | 1.0 | 1.4 | 1.7 | 2.1 | 1.8 | 2.3 | · | · | |
| P/B | 2.0 | 2.4 | 2.7 | 3.0 | 2.2 | 3.7 | · | · | |
| P / Tangible Book | 3.5 | 3.2 | 3.6 | 3.0 | 2.2 | 3.7 | · | · | |
| P / Cash Flow | 5.4 | 8.0 | 6.7 | 10.4 | 9.2 | 8.7 | · | · | |
| P / FCF | 23.7 | 238.1 | 15.8 | 59.3 | 75.2 | 13.8 | · | · | |
| EV / EBITDA | 5.5 | 6.9 | 8.2 | 32.8 | 15.9 | 10.5 | · | · | |
| EV / FCF | 23.6 | 227.8 | 15.5 | 55.8 | 67.0 | 12.7 | · | · | |
| EV / Revenue | 1.0 | 1.3 | 1.6 | 2.0 | 1.6 | 2.1 | · | · | |
| Earnings Yield | 5.0% | 3.5% | 3.2% | 2.1% | 4.2% | 10.1% | 3.4% | · |
Income Statement 15
| 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 | $78M | $75M | $76M | $72M | $63M | $59M | $61M | $58M | $55M | $51M | $51M | $49M | $43M | $40M | $38M | $36M | |
| Cost of Revenue | $33M | $33M | $32M | $31M | $26M | $26M | $25M | $24M | $22M | $21M | $19M | $19M | $17M | $16M | $15M | $14M | |
| Gross Profit | $45M | $43M | $44M | $41M | $37M | $33M | $36M | $34M | $33M | $30M | $32M | $31M | $26M | $24M | $23M | $22M | |
| R&D Expense | $504.0K | $579.0K | $598.0K | $775.0K | $847.0K | $797.0K | $803.0K | $757.0K | $758.0K | $750.0K | $651.0K | $593.0K | $758.0K | $780.0K | $722.0K | $670.0K | |
| SG&A Expense | $37M | $35M | $32M | $32M | $29M | $28M | $28M | $27M | $27M | $25M | $24M | $24M | $21M | $20M | $17M | $18M | |
| Operating Income | $4M | $4M | $8M | $6M | $5M | $4M | $6M | $6M | $4M | $2M | $5M | $4M | $3M | $2M | $4M | $1M | |
| Other Non-op | $67.0K | $35.0K | $61.0K | $44.0K | $72.0K | $75.0K | $88.0K | $276.0K | $-563.0K | $26.0K | $-26.0K | $41.0K | $2.0K | $81.0K | $268.0K | $57.0K | |
| Pretax Income | $4M | $4M | $8M | $5M | $5M | $4M | $6M | $5M | $2M | $2M | $5M | $4M | $3M | $2M | $4M | $2M | |
| Income Tax | $1M | $1M | $2M | $2M | $2M | $952.0K | $2M | $2M | $768.0K | $518.0K | $2M | $1M | $728.0K | $501.0K | $1M | $456.0K | |
| Net Income | $3M | $3M | $6M | $4M | $3M | $3M | $4M | $4M | $1M | $2M | $3M | $3M | $2M | $2M | $2M | $1M | |
| EPS (Basic) | $0.07 | $0.07 | $0.14 | $0.09 | $0.08 | $0.07 | $0.11 | $0.10 | $0.04 | $0.04 | $0.09 | $0.08 | $0.06 | $0.04 | $0.07 | $0.03 | |
| EPS (Diluted) | $0.07 | $0.06 | $0.14 | $0.09 | $0.08 | $0.06 | $0.10 | $0.10 | $0.04 | $0.04 | $0.08 | $0.07 | $0.06 | $0.04 | $0.07 | $0.03 | |
| Shares (Basic) | 38,245,491 | 38,428,588 | -78,685,432 | 38,638,660 | 39,515,247 | 39,426,753 | -77,656,033 | 38,870,823 | 38,822,980 | 38,717,123 | -76,565,013 | 38,438,058 | 38,324,249 | 38,156,777 | -77,972,706 | 38,232,788 | |
| Shares (Diluted) | 41,125,716 | 40,491,298 | -82,383,574 | 40,495,761 | 41,083,760 | 41,627,876 | -81,108,412 | 40,779,414 | 40,553,449 | 40,580,634 | -80,735,337 | 40,420,615 | 40,676,951 | 40,016,693 | -79,892,388 | 39,583,438 | |
| EBITDA | $4M | $12M | · | $6M | $5M | $10M | · | $6M | $4M | $8M | · | $4M | $3M | $2M | · | $1M |
Balance Sheet 23
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $11M | $10M | $14M | $11M | $20M | $10M | $18M | $11M | $9M | $7M | · | $10M | $10M | $24M | · | $21M | |
| Receivables | $32M | $31M | $26M | $27M | $27M | $27M | $25M | $27M | $27M | $24M | · | $18M | $18M | $16M | · | $15M | |
| Inventory | $5M | $5M | $5M | $5M | $4M | $5M | $4M | $4M | $4M | $4M | · | $5M | $4M | $3M | · | $3M | |
| Prepaid Expense | $6M | $4M | $4M | $4M | $4M | $8M | $6M | $5M | $4M | $2M | · | $3M | $2M | $3M | · | $3M | |
| Current Assets | $54M | $50M | $48M | $50M | $55M | $49M | $53M | $48M | $45M | $39M | · | $36M | $36M | $47M | · | $43M | |
| PP&E (Net) | $77M | $76M | $79M | $81M | $80M | $81M | $76M | $74M | $75M | $74M | · | $73M | $73M | $68M | · | · | |
| Accum. Depreciation | $65M | $63M | $61M | $58M | $54M | · | $58M | $57M | $58M | · | · | $50M | $45M | · | · | · | |
| Goodwill | $59M | $59M | $59M | $58M | $33M | $33M | $33M | $33M | $33M | $30M | · | $30M | $30M | · | · | · | |
| Intangibles | $1M | $1M | $1M | $1M | $783.0K | $816.0K | $848.0K | $880.0K | $912.0K | $534.0K | · | $688.0K | $688.0K | · | · | · | |
| Other Non-current Assets | · | · | · | · | · | · | · | $0 | $0 | $887.0K | · | $887.0K | $887.0K | $2M | · | $2M | |
| Total Assets | $204M | $197M | $199M | $202M | $185M | $178M | $177M | $170M | $164M | $155M | · | $149M | $149M | $125M | · | $119M | |
| Accrued Liabilities | $25M | $22M | $24M | $25M | $19M | $18M | $20M | $20M | $17M | $14M | · | $17M | $16M | $13M | · | $12M | |
| Current Liabilities | $48M | $41M | $41M | $44M | $37M | $35M | $37M | $36M | $31M | $30M | · | $32M | $32M | $23M | · | $21M | |
| Capital Leases | $3M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | · | $215.0K | $143.0K | · | · | · | |
| Total Liabilities | $58M | $52M | $56M | $67M | $43M | $41M | $44M | $43M | $43M | $39M | · | $41M | $45M | $25M | · | $26M | |
| Long-term Debt | $7M | $9M | $12M | $21M | $4M | $4M | $4M | $4M | $9M | $7M | · | $10M | $15M | · | · | $4M | |
| Total Debt | $7M | $9M | · | $21M | $4M | $4M | · | $4M | $9M | $7M | · | $10M | $15M | · | · | $4M | |
| Common Stock | $18M | $21M | $17M | $17M | $28M | $28M | $23M | $23M | $22M | $22M | · | $19M | $18M | $17M | · | $15M | |
| Retained Earnings | $108M | $105M | $103M | $97M | $94M | $91M | $90M | $85M | $82M | $80M | · | $76M | $73M | $71M | · | $68M | |
| AOCI | · | · | · | · | · | · | · | · | · | · | · | · | · | · | · | $56.0K | |
| Stockholders' Equity | $144M | $144M | $142M | $134M | $140M | $135M | $131M | $125M | $119M | $116M | · | $109M | $105M | $100M | · | $94M | |
| Liabilities + Equity | $204M | $197M | $199M | $202M | $185M | $178M | $177M | $170M | $164M | $155M | · | $149M | $149M | $125M | · | $119M | |
| Shares Outstanding | 38,088,228 | 38,533,586 | 38,019,082 | 38,017,907 | 39,605,005 | 39,523,787 | 39,132,897 | 38,932,247 | 38,825,799 | 38,816,766 | 38,506,161 | 38,489,001 | 38,400,422 | 38,276,389 | 38,049,739 | 38,102,547 |
Cash Flow 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $8M | $8M | $8M | $8M | $7M | $7M | $6M | $6M | $6M | $6M | $6M | $6M | $5M | $5M | · | · | |
| Stock-based Comp | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $1M | $2M | $1M | $1M | $1M | $1M | $1M | |
| Deferred Tax | · | · | $380.0K | $5M | · | · | $-333.0K | $-4M | $0 | $0 | $-648.0K | $-66.0K | $0 | $-725.0K | $1M | $0 | |
| Other Non-cash | · | $-5M | · | · | · | $-9M | · | · | · | $-8M | · | · | · | · | · | · | |
| Operating Cash Flow | $16M | $8M | $18M | $18M | $12M | $3M | $15M | $13M | $10M | $1M | $13M | $14M | $8M | $10M | $8M | $8M | |
| CapEx | $8M | $7M | $9M | $8M | $8M | $15M | $12M | $11M | $9M | $6M | $8M | $7M | $6M | $5M | $6M | $6M | |
| Investing Cash Flow | $-8M | $-5M | $-8M | $-32M | $-2M | $-9M | $-9M | $-5M | $-11M | $-5M | $-7M | $-9M | $-32M | $-4M | $-7M | $-6M | |
| Stock Repurchased | $5M | $1M | $0 | $12M | $2M | $0 | $0 | $0 | · | · | $0 | $0 | $0 | $0 | $710.0K | $2M | |
| Net Stock Activity | · | $-1M | · | · | · | · | · | · | · | · | · | · | · | $0 | · | · | |
| Financing Cash Flow | $-7M | $-6M | $-8M | $5M | $-671.0K | $-2M | $404.0K | $-5M | $2M | $-1M | $-3M | $-5M | $11M | $39.0K | $-5M | $-2M | |
| Net Change in Cash | $918.0K | $-4M | $2M | $-9M | $10M | $-7M | $6M | $3M | $1M | $-6M | $3M | $-146.0K | $-13M | $7M | $-5M | $-444.0K | |
| Taxes Paid | $359.0K | $14.0K | $123.0K | $208.0K | $4M | $3M | $411.0K | $3M | $4M | $0 | $348.0K | $125.0K | $3M | $-40.0K | $74.0K | $20.0K | |
| Free Cash Flow | · | $1M | · | · | · | $-13M | · | · | · | $-5M | · | · | · | $6M | · | · |
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 | 57.7% | 56.8% | · | 57.5% | 58.2% | 56.3% | · | 59.3% | 59.8% | 58.9% | · | 61.9% | 60.3% | 60.7% | · | 60.6% | |
| Operating Margin | 5.7% | 5.7% | · | 7.8% | 8.1% | 6.5% | · | 9.7% | 6.6% | 4.4% | · | 8.5% | 6.7% | 4.9% | · | 4.1% | |
| Net Margin | 3.5% | 3.4% | · | 4.9% | 5.0% | 4.4% | · | 6.7% | 2.7% | 3.2% | · | 5.9% | 5.4% | 3.8% | · | 2.9% | |
| Pretax Margin | 5.2% | 5.3% | · | 7.1% | 7.9% | 6.2% | · | 9.5% | 4.1% | 4.2% | · | 8.6% | 7.1% | 5.1% | · | 4.2% | |
| EBITDA Margin | 5.7% | 15.8% | · | 7.8% | 8.1% | 17.7% | · | 9.7% | 6.6% | 16.8% | · | 8.5% | 6.7% | 4.9% | · | 4.1% | |
| ROA | 1.4% | 1.4% | · | 1.9% | 1.8% | 1.6% | · | 2.4% | 0.94% | 1.1% | · | 2.2% | 1.8% | 1.2% | · | 0.90% | |
| ROE | 1.9% | 1.8% | · | 2.7% | 2.4% | 2.1% | · | 3.3% | 1.3% | 1.5% | · | 2.9% | 2.4% | 1.6% | · | 1.1% | |
| ROIC | 2.1% | 1.9% | · | 2.6% | 2.3% | 2.1% | · | 3.1% | 1.8% | 1.4% | · | 2.4% | 1.8% | 1.5% | · | 1.0% |
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 | 1.1 | 1.2 | · | 1.1 | 1.5 | 1.4 | · | 1.3 | 1.4 | 1.3 | · | 1.1 | 1.1 | 2.0 | · | 2.1 | |
| Quick Ratio | 0.9 | 1.0 | · | 0.9 | 1.2 | 1.0 | · | 1.1 | 1.1 | 1.1 | · | 0.9 | 0.9 | 1.7 | · | 1.8 | |
| Debt / Equity | 0.0 | 0.1 | · | 0.2 | 0.0 | 0.0 | · | 0.0 | 0.1 | 0.1 | · | 0.1 | 0.1 | · | · | 0.0 | |
| LT Debt / Equity | 0.0 | 0.1 | · | 0.1 | 0.0 | 0.0 | · | 0.0 | 0.1 | 0.1 | · | 0.1 | 0.1 | · | · | 0.0 |
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 | 0.4 | 0.4 | · | 0.4 | 0.4 | 0.4 | · | 0.4 | 0.4 | 0.4 | · | 0.4 | 0.3 | 0.3 | · | 0.3 | |
| Inventory Turnover | 6.9 | 6.7 | · | 6.4 | 6.0 | 5.8 | · | 5.3 | 5.0 | 5.3 | · | 4.8 | 4.7 | 5.2 | · | 4.9 | |
| Receivables Turnover | 2.7 | 2.6 | · | 2.6 | 2.4 | 2.3 | · | 2.6 | 2.4 | 2.5 | · | 3.0 | 2.7 | 2.6 | · | 2.6 |
Valuation (TTM) 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $288M | $270M | · | $252M | $235M | $223M | · | $213M | $198M | $183M | · | $168M | $152M | $141M | · | $131M | |
| Net Income TTM | $12M | $12M | · | $13M | $11M | $10M | · | $10M | $8M | $8M | · | $8M | $6M | $5M | · | $6M | |
| Market Cap | $434M | $355M | · | $258M | $274M | $288M | · | $285M | $254M | $366M | · | $259M | $376M | $370M | · | $229M | |
| Enterprise Value | $431M | $354M | · | $268M | $258M | $281M | · | $278M | $255M | $365M | · | $259M | $381M | · | · | $211M | |
| P/E | 38.0 | 31.8 | · | 20.6 | 24.7 | 30.3 | · | 29.3 | 31.2 | 44.9 | · | 33.6 | 65.2 | 74.3 | · | 46.2 | |
| P/S | 1.5 | 1.3 | · | 1.0 | 1.2 | 1.3 | · | 1.3 | 1.3 | 2.0 | · | 1.5 | 2.5 | 2.6 | · | 1.8 | |
| P/B | 3.0 | 2.5 | · | 1.9 | 2.0 | 2.1 | · | 2.3 | 2.1 | 3.1 | · | 2.4 | 3.6 | 3.7 | · | 2.4 | |
| P / Tangible Book | 5.2 | 4.2 | · | 3.5 | 2.6 | 2.9 | · | 3.1 | 3.0 | 4.3 | · | 3.3 | 5.1 | 3.7 | · | 2.4 | |
| P / Cash Flow | · | 44.0 | · | · | · | 100.8 | · | · | · | 311.5 | · | · | · | 35.2 | · | · | |
| P / FCF | · | 261.1 | · | · | · | -22.8 | · | · | · | -75.8 | · | · | · | 63.6 | · | · | |
| EV / EBITDA | 96.5 | 29.7 | · | 47.5 | 50.6 | 26.9 | · | 49.5 | 70.5 | 43.0 | · | 61.6 | 131.2 | · | · | 143.9 | |
| EV / FCF | · | 260.7 | · | · | · | -22.3 | · | · | · | -75.6 | · | · | · | · | · | · | |
| EV / Revenue | 1.5 | 1.3 | · | 1.1 | 1.1 | 1.3 | · | 1.3 | 1.3 | 2.0 | · | 1.5 | 2.5 | · | · | 1.6 | |
| Earnings Yield | 2.6% | 3.1% | · | 4.9% | 4.0% | 3.3% | · | 3.4% | 3.2% | 2.2% | · | 3.0% | 1.5% | 1.4% | · | 2.2% |
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
Income Statement
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Revenue | $270M | $224M | $183M | $139M | $117M |
| Gross Margin % | 57.5% | 59.4% | 61.6% | 61.0% | 62.7% |
| Operating Margin % | 8.5% | 8.0% | 7.8% | 5.9% | 9.9% |
| Net Income | $15M | $11M | $10M | $6M | $9M |
| Diluted EPS | $0.37 | $0.28 | $0.25 | $0.16 | $0.22 |
Balance Sheet
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Debt / Equity | 0.1 | 0.0 | 0.1 | 0.0 | 0.1 |
| Current Ratio | 1.2 | 1.4 | 1.2 | 2.1 | 2.7 |
| Quick Ratio | 1.0 | 1.1 | 1.0 | 1.7 | 2.3 |
Cash Flow
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Free Cash Flow | $12M | $1M | $19M | $5M | $3M |
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Institutional owners (13F) 174 filers · $212.5M 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 |
|---|---|---|---|---|
| 31 (+3 vs prior Q) | 11 (0 vs prior Q) | 62 (+13 vs prior Q) | 35 (-3 vs prior Q) | +2.8M |
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 |
|---|---|---|---|---|
| Forager Capital Management, LLC | $24,409,498 | 2,141,184 | 11.49% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $15,067,106 | 1,321,676 | 7.09% | Shares |
| AMERIPRISE FINANCIAL INC | $10,978,474 | 963,024 | 5.17% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $9,694,176 | 850,179 | 4.56% | Shares |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | $8,963,467 | 786,269 | 4.22% | Shares |
| STATE STREET CORP | $8,687,906 | 762,097 | 4.09% | Shares |
| Nantahala Capital Management, LLC | $7,209,873 | 632,445 | 3.39% | Shares |
| PANAGORA ASSET MANAGEMENT INC | $6,140,325 | 538,625 | 2.89% | Shares |
| First Eagle Investment Management, LLC | $6,100,790 | 535,157 | 2.87% | Shares |
| PUNCH & ASSOCIATES INVESTMENT MANAGEMENT, INC. | $6,081,512 | 533,466 | 2.86% | Shares |
| TWO SIGMA INVESTMENTS, LP | $5,002,901 | 438,851 | 2.35% | Shares |
| RENAISSANCE TECHNOLOGIES LLC | $4,855,260 | 425,900 | 2.28% | Shares |
| Kent Lake PR LLC | $4,753,000 | 700,000 | 2.24% | Shares |
| BlackRock, Inc. | $4,667,012 | 409,387 | 2.20% | Shares |
| RAFFLES ASSOCIATES LP | $4,602,077 | 403,691 | 2.17% | Shares |
| TOCQUEVILLE ASSET MANAGEMENT L.P. | $3,899,940 | 342,100 | 1.84% | Shares |
| MARTIN & CO INC /TN/ | $3,884,789 | 340,771 | 1.83% | Shares |
| BARD ASSOCIATES INC | $3,872,261 | 339,672 | 1.82% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $3,207,196 | 281,333 | 1.51% | Shares |
| Penbrook Management LLC | $3,159,829 | 277,178 | 1.49% | Shares |
| LAZARD ASSET MANAGEMENT LLC | $2,992,340 | 262,486 | 1.41% | Shares |
| GOLDMAN SACHS GROUP INC | $2,983,346 | 261,697 | 1.40% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $2,699,406 | 236,790 | 1.27% | Shares |
| Hillsdale Investment Management Inc. | $2,566,243 | 225,109 | 1.21% | Shares |
| Expect Equity LLC | $2,425,019 | 212,721 | 1.14% | Shares |
| RICE HALL JAMES & ASSOCIATES, LLC | $2,383,352 | 209,066 | 1.12% | Shares |
| CITADEL ADVISORS LLC | $2,371,975 | 208,068 | 1.12% | Shares |
| Walleye Capital LLC | $2,096,563 | 183,909 | 0.99% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $1,903,618 | 166,984 | 0.90% | Shares |
| BANK OF AMERICA CORP /DE/ | $1,809,886 | 158,762 | 0.85% | Shares |
| Point72 Asset Management, L.P. | $1,776,599 | 155,842 | 0.84% | Shares |
| VANGUARD GROUP INC | $1,642,736 | 221,095 | 0.77% | Shares |
| BNP PARIBAS FINANCIAL MARKETS | $1,534,372 | 134,594 | 0.72% | Shares |
| Cove Street Capital, LLC | $1,492,768 | 219,848 | 0.70% | Shares |
| Quantinno Capital Management LP | $1,341,894 | 117,710 | 0.63% | Shares |
| FIRST TRUST ADVISORS LP | $1,262,116 | 110,712 | 0.59% | Shares |
| SummerHaven Investment Management, LLC | $1,259,472 | 110,480 | 0.59% | Shares |
| Informed Momentum Co LLC | $1,249,349 | 109,592 | 0.59% | Shares |
| Spartan Fund Management Inc. | $1,198,405 | 149,427 | 0.56% | Shares |
| North Star Investment Management Corp. | $1,140,000 | 100,000 | 0.54% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $1,136,432 | 99,687 | 0.53% | Shares |
| Man Group plc | $1,072,603 | 94,088 | 0.50% | Shares |
| GABELLI FUNDS LLC | $1,053,360 | 92,400 | 0.50% | Shares |
| Trexquant Investment LP | $1,017,792 | 89,280 | 0.48% | Shares |
| PERRITT CAPITAL MANAGEMENT INC | $966,643 | 130,100 | 0.45% | Shares |
| MANGROVE PARTNERS IM, LLC | $868,441 | 76,179 | 0.41% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $859,891 | 75,429 | 0.40% | Shares |
| Numerai GP LLC | $855,638 | 75,056 | 0.40% | Shares |
| SEI INVESTMENTS CO | $838,641 | 73,565 | 0.39% | Shares |
| Round Rock Advisors LLC | $789,929 | 69,292 | 0.37% | Shares |
| RBF Capital, LLC | $752,081 | 65,972 | 0.35% | Shares |
| Integrated Quantitative Investments LLC | $741,342 | 65,030 | 0.35% | Shares |
| STRS OHIO | $712,500 | 62,500 | 0.34% | Shares |
| TWO SIGMA ADVISERS, LP | $698,420 | 94,000 | 0.33% | Shares |
| BARCLAYS PLC | $696,950 | 61,136 | 0.33% | Shares |
| Campbell & CO Investment Adviser LLC | $693,690 | 60,850 | 0.33% | Shares |
| SALEM INVESTMENT COUNSELORS INC | $660,995 | 57,982 | 0.31% | Shares |
| Verdad Advisers, LP | $602,821 | 52,879 | 0.28% | Shares |
| MILLENNIUM MANAGEMENT LLC | $592,219 | 51,949 | 0.28% | Shares |
| Nuveen Asset Management, LLC | $571,946 | 71,315 | 0.27% | Shares |
| Watershed Asset Management, L.L.C. | $564,152 | 49,487 | 0.27% | Shares |
| AMH Equity Ltd | $543,200 | 80,000 | 0.26% | Shares |
| MARTINGALE ASSET MANAGEMENT L P | $483,600 | 42,421 | 0.23% | Shares |
| RHUMBLINE ADVISERS | $462,333 | 40,556 | 0.22% | Shares |
| HSBC HOLDINGS PLC | $434,040 | 38,292 | 0.20% | Shares |
| Bank of New York Mellon Corp | $430,407 | 37,755 | 0.20% | Shares |
| Engineers Gate Manager LP | $418,004 | 36,667 | 0.20% | Shares |
| Brendel Financial Advisors LLC | $416,374 | 36,524 | 0.20% | Shares |
| Rothschild Wealth LLC | $348,247 | 30,548 | 0.16% | Shares |
| SEIZERT CAPITAL PARTNERS, LLC | $340,244 | 29,846 | 0.16% | Shares |
| Y-Intercept (Hong Kong) Ltd | $320,500 | 28,114 | 0.15% | Shares |
| BAILARD, INC. | $320,340 | 28,100 | 0.15% | Shares |
| SageView Advisory Group, LLC | $303,548 | 26,627 | 0.14% | Shares |
| JANE STREET GROUP, LLC | $290,233 | 25,459 | 0.14% | Shares |
| BRIDGEWAY CAPITAL MANAGEMENT, LLC | $289,457 | 25,391 | 0.14% | Shares |
| Violich Capital Management, Inc. | $278,730 | 24,450 | 0.13% | Shares |
| BCM ADVISORS, LLC | $276,830 | 23,520 | 0.13% | Shares |
| LPL Financial LLC | $273,509 | 23,992 | 0.13% | Shares |
| Squarepoint Ops LLC | $269,120 | 23,607 | 0.13% | Shares |
| BLAIR WILLIAM & CO/IL | $267,934 | 23,503 | 0.13% | Shares |
| PDT Partners, LLC | $267,581 | 23,472 | 0.13% | Shares |
| MBB PUBLIC MARKETS I LLC | $266,578 | 23,384 | 0.13% | Shares |
| MERCER GLOBAL ADVISORS INC /ADV | $257,549 | 22,592 | 0.12% | Shares |
| Semanteon Capital Management, LP | $226,529 | 19,871 | 0.11% | Shares |
| Quadrature Capital Ltd | $207,480 | 18,200 | 0.10% | Shares |
| MetLife Investment Management, LLC | $207,138 | 18,170 | 0.10% | Shares |
| Aristides Capital LLC | $193,948 | 17,013 | 0.09% | Shares |
| Magnetar Financial LLC | $190,802 | 16,737 | 0.09% | Shares |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. | $178,091 | 15,622 | 0.08% | Shares |
| CITIGROUP INC | $164,741 | 14,451 | 0.08% | Shares |
| Mariner, LLC | $160,329 | 14,064 | 0.08% | Shares |
| Invesco Ltd. | $154,595 | 13,561 | 0.07% | Shares |
| XTX Topco Ltd | $154,253 | 13,531 | 0.07% | Shares |
| ALLIANCEBERNSTEIN L.P. | $152,518 | 16,560 | 0.07% | Shares |
| Cubist Systematic Strategies, LLC | $151,954 | 22,379 | 0.07% | Shares |
| Cardinal Point Capital Management ULC | $142,272 | 12,480 | 0.07% | Shares |
| WEALTH ENHANCEMENT ADVISORY SERVICES, LLC | $135,496 | 11,007 | 0.06% | Shares |
| Vanguard Global Advisers, LLC | $134,167 | 11,769 | 0.06% | Shares |
| DIVERSIFIED TRUST CO | $132,433 | 11,617 | 0.06% | Shares |
| DORCHESTER WEALTH MANAGEMENT Co | $132,170 | 16,480 | 0.06% | Shares |
Company insiders 2 insiders · 1 officers · 2 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| William Frazier | Chief Medical Officer | June 25, 2026 M | 73,214 | 0 | 1 | $-117,200 |
| Timothy Smokoff | Director | June 24, 2026 S | 75,518 | 0 | 5 | $-229,967 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
Activists & 5%+ owners 1 position
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 |
|---|---|---|---|---|---|
| Michael Moore, Moore Faster LLC ×3 filings | Feb. 15, 2024 | — | 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 25 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 |
|---|---|---|---|---|
| ROSC · Lattice Strategies Trust | 0.28% | 15,237 NS | April 30, 2026 | N-PORT |
| IWC · iShares Trust | 0.07% | 115,329 SH | Aug. 8, 2026 | Daily |
| GSSC · Goldman Sachs ETF Trust | 0.05% | 52,165 NS | May 31, 2026 | N-PORT |
| OMFS · Invesco Exchange-Traded Self-Indexe… | 0.04% | 10,835 SH | Aug. 8, 2026 | Daily |
| IWO · iShares Trust | 0.02% | 312,190 SH | Aug. 8, 2026 | Daily |
| VTWG · VANGUARD SCOTTSDALE FUNDS | 0.02% | 36,563 SH | Aug. 8, 2026 | Daily |
| RSSL · Global X Funds | 0.01% | 14,535 NS | April 30, 2026 | N-PORT |
| VTWO · VANGUARD SCOTTSDALE FUNDS | 0.01% | 196,637 SH | Aug. 8, 2026 | Daily |
| IWM · iShares Trust | 0.01% | 852,461 SH | Aug. 8, 2026 | Daily |
| ITWO · ProShares Trust | 0.01% | 1,576 NS | May 31, 2026 | N-PORT |
| UWM · ProShares Trust | 0.00% | 1,234 NS | May 31, 2026 | N-PORT |
| PRFZ · Invesco Exchange-Traded Fund Trust | 0.00% | 12,851 SH | Aug. 8, 2026 | Daily |
| URTY · ProShares Trust | 0.00% | 1,248 NS | May 31, 2026 | N-PORT |
| MSSM · MORGAN STANLEY PATHWAY FUNDS | 0.00% | 1,066 NS | May 31, 2026 | N-PORT |
| HDG · ProShares Trust | 0.00% | 31 NS | May 31, 2026 | N-PORT |
| DFIS · Dimensional ETF Trust | 0.00% | 5,448 NS | April 30, 2026 | N-PORT |
| DFIC · Dimensional ETF Trust | 0.00% | 9,492 NS | April 30, 2026 | N-PORT |
| DFSI · Dimensional ETF Trust | 0.00% | 723 NS | April 30, 2026 | N-PORT |
| IWV · iShares Trust | 0.00% | 11,862 SH | Aug. 8, 2026 | Daily |
| DFAX · Dimensional ETF Trust | 0.00% | 6,272 NS | April 30, 2026 | N-PORT |
| AVDE · AMERICAN CENTURY ETF TRUST | 0.00% | 1,648 NS | May 31, 2026 | N-PORT |
| VXF · VANGUARD INDEX FUNDS | 0.00% | 380,753 SH | Aug. 8, 2026 | Daily |
| VTI · VANGUARD INDEX FUNDS | 0.00% | 912,713 SH | Aug. 8, 2026 | Daily |
| VTHR · VANGUARD SCOTTSDALE FUNDS | 0.00% | 2,259 SH | Aug. 8, 2026 | Daily |
| AVDS · AMERICAN CENTURY ETF TRUST | 0.00% | 15 NS | May 31, 2026 | N-PORT |