ZVIA Zevia PBC Class A Common Stock
$1.33
Price · Aug 19, 2026
Fundamentals as of Aug 5, 2026
52W Range
$1–$3
10% of range
Analyst Rating
BUY
12 analysts
Price Target
$4
+199% upside
P/E (TTM)
-15.5
ROE
-17.1%
Net Profit Margin
-6.2%
ZVIA Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$1.32
Market Cap
—
P/E (TTM)
-15.5
EPS (TTM)
$-0.15
Revenue (TTM)
$161M
Div Yield
—
ROE
-17.1%
Debt/Equity
—
52W Range
$1 – $3
ZVIA 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
$161M
2020-12-31
→
2025-12-31
EPS
$-0.15
2021-12-31
→
2025-12-31
Free Cash Flow
$-5M
2021-12-31
→
2025-12-31
Margins
-6.2%
2021-12-31
→
2025-12-31
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Metric
5Y trend
ZVIA
Peer Median
P/E (TTM)
-15.5
35.8
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Metric
5Y trend
ZVIA
Peer Median
Gross Margin
48.0%
47.6%
Operating Margin
-7.3%
—
Net Profit Margin
-6.2%
10.8%
ROA
-15.1%
11.6%
ROE
-17.1%
23.9%
ROIC
-23.2%
—
Financial Health Debt, liquidity, solvency — balance sheet strength
Metric
5Y trend
ZVIA
Peer Median
Current Ratio
2.1
2.2
Quick Ratio
1.3
—
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Metric
5Y trend
ZVIA
Peer Median
Revenue YoY
4.0%
—
Revenue CAGR 3Y
-0.39%
—
Revenue CAGR 5Y
8.0%
—
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
Metric
5Y trend
ZVIA
Peer Median
ZVIA Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
BUY
12 analysts
- Strong Buy 3 25.0%
- Buy 6 50.0%
- Hold 3 25.0%
- Sell 0 0.0%
- Strong Sell 0 0.0%
12-Month Price Target
6 analysts · 2026-08-19
Median
$4.00
← Below all targets
$1.32
Low
$1.75
High
$6.00
Median target
$4.00
+201.9%
Mean target
$3.96
+198.7%
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
0.02%
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| June 30, 2026 | $-0.04 | $-0.03 | -0.01% |
| March 31, 2026 | $-0.03 | $-0.03 | 0.00% |
| Dec. 31, 2025 | $-0.02 | $-0.03 | 0.01% |
| Sept. 30, 2025 | $-0.04 | $-0.06 | 0.02% |
| June 30, 2025 | $-0.01 | $-0.04 | 0.03% |
| March 31, 2025 | $-0.05 | $-0.11 | 0.06% |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| ZVIA | — | -15.5 | 4.0% | -6.2% | -17.1% | 48.0% |
| PRMB | $5.95B | 102.2 | 29.3% | 0.90% | 1.9% | 30.3% |
| CELH | $11.75B | 183.0 | 85.5% | 4.3% | 8.8% | 50.4% |
| COCO | $3.03B | 44.5 | 18.2% | 11.7% | 24.2% | 36.5% |
| FIZZ | — | 17.4 | -1.7% | 15.6% | 34.0% | 37.0% |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement 16
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Revenue | $161M | $155M | $166M | $163M | $138M | $110M | |
| Cost of Revenue | $84M | $83M | $92M | $93M | $74M | $61M | |
| Gross Profit | $77M | $72M | $75M | $70M | $64M | $50M | |
| SG&A Expense | $30M | $30M | $31M | $37M | $28M | $19M | |
| Operating Expenses | $89M | $96M | $104M | $118M | $151M | $55M | |
| Operating Income | $-12M | $-24M | $-29M | $-48M | $-87M | $-5M | |
| Interest Income | $800.0K | $800.0K | · | · | · | · | |
| Other Non-op | $678.0K | $-63.0K | $673.0K | $286.0K | $-207.0K | $-593.0K | |
| Pretax Income | $-11M | $-24M | $-28M | $-48M | $-88M | $-6M | |
| Income Tax | $54.0K | $66.0K | $52.0K | $65.0K | $34.0K | $0 | |
| Net Income | $-10M | $-20M | $-28M | $-48M | $-88M | $-6M | |
| EPS (Basic) | $-0.15 | $-0.34 | $-0.41 | $-0.81 | $-1.33 | · | |
| EPS (Diluted) | $-0.15 | $-0.34 | $-0.41 | $-0.81 | $-1.33 | · | |
| Shares (Basic) | 66,016,155 | 58,683,445 | 50,618,758 | 43,469,383 | 34,450,409 | · | |
| Shares (Diluted) | 66,016,155 | 58,683,445 | 50,618,758 | 43,469,383 | 34,450,409 | · | |
| EBITDA | $-11M | $-22M | $-27M | $-47M | $-86M | · |
Balance Sheet 23
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $25M | $31M | $32M | $47M | $43M | $15M | |
| Short-term Investments | · | · | · | $0 | $30M | $0 | |
| Receivables | $11M | $11M | $11M | $11M | $9M | $7M | |
| Inventory | $20M | $19M | $35M | $28M | $32M | $21M | |
| Prepaid Expense | $1M | $2M | $5M | $3M | $3M | $1M | |
| Other Current Assets | · | · | $3M | · | · | · | |
| Current Assets | $58M | $62M | $83M | $89M | $117M | $44M | |
| PP&E (Net) | $867.0K | $1M | $2M | $5M | $3M | $991.0K | |
| PP&E (Gross) | $3M | $4M | $5M | $7M | $5M | $3M | |
| Accum. Depreciation | $3M | $3M | $2M | $2M | $1M | $2M | |
| Intangibles | $3M | $3M | $4M | $4M | $4M | $4M | |
| Other Non-current Assets | $849.0K | $503.0K | $579.0K | $539.0K | $301.0K | $81.0K | |
| Total Assets | $64M | $68M | $91M | $99M | $125M | $50M | |
| Accounts Payable | $18M | $15M | $21M | $8M | $13M | $9M | |
| Accrued Liabilities | $10M | $8M | · | · | · | $3M | |
| Current Liabilities | $28M | $24M | $28M | $17M | $20M | $14M | |
| Capital Leases | $0 | $726.0K | $1M | $0 | $1.0K | $238.0K | |
| Other Non-current Liabilities | $0 | $58.0K | $0 | · | · | · | |
| Total Liabilities | $28M | $25M | $29M | $17M | $20M | $14M | |
| Paid-in Capital | $182M | $186M | $191M | $190M | $174M | $0 | |
| Retained Earnings | $-131M | $-121M | $-101M | $-80M | $-46M | $0 | |
| Stockholders' Equity | $51M | $65M | $90M | $110M | $128M | $-197M | |
| Liabilities + Equity | $64M | $68M | $91M | $99M | $125M | $50M |
Cash Flow 15
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| D&A | $868.0K | $1M | $2M | $1M | $997.0K | $932.0K | |
| Stock-based Comp | $4M | $5M | $8M | $27M | $78M | $8M | |
| Deferred Tax | $0 | $0 | $0 | $0 | $0 | · | |
| Amort. of Intangibles | $200.0K | $300.0K | $600.0K | $700.0K | $400.0K | $200.0K | |
| Restructuring | $2M | $2M | $0 | · | · | · | |
| Other Non-cash | $586.0K | $16M | · | $-1M | $-9M | · | |
| Operating Cash Flow | $-5M | $-1M | $-16M | $-21M | $-18M | $-3M | |
| CapEx | $307.0K | $283.0K | · | $3M | $3M | $805.0K | |
| Investing Cash Flow | $-307.0K | $-283.0K | $805.0K | $27M | $-33M | $-805.0K | |
| Stock Repurchased | · | · | · | $0 | $17.0K | · | |
| Net Stock Activity | · | · | · | $0 | $-17.0K | · | |
| Financing Cash Flow | $-289.0K | $0 | $25.0K | $-2M | $79M | $16M | |
| Net Change in Cash | $-5M | $-1M | $-15M | $4M | $28M | $12M | |
| Taxes Paid | $45.0K | $85.0K | $127.0K | $69.0K | $0 | · | |
| Free Cash Flow | $-5M | · | · | $-23M | $-21M | · |
Profitability 8
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Gross Margin | 48.0% | 46.4% | 44.9% | 42.9% | 44.3% | · | |
| Operating Margin | -7.3% | -15.3% | -17.4% | -29.3% | -63.3% | · | |
| Net Margin | -6.2% | -15.3% | · | -29.2% | -63.4% | · | |
| Pretax Margin | -6.9% | -15.3% | -17.0% | -29.2% | -63.4% | · | |
| EBITDA Margin | -6.8% | -14.4% | -16.4% | -28.5% | -62.5% | · | |
| ROA | -15.1% | -29.9% | · | -42.6% | -100.2% | · | |
| ROE | -17.1% | -30.7% | · | -40.0% | 257.7% | · | |
| ROIC | -23.2% | -36.6% | -32.3% | -43.6% | -68.0% | · |
Liquidity & Solvency 2
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Current Ratio | 2.1 | 2.6 | 3.0 | 5.2 | 5.7 | · | |
| Quick Ratio | 1.3 | 1.7 | 1.6 | 3.4 | 4.0 | · |
Efficiency 3
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Asset Turnover | 2.5 | 2.0 | 1.8 | 1.5 | 1.6 | · | |
| Inventory Turnover | 4.3 | 3.1 | 3.0 | 3.2 | 2.9 | · | |
| Receivables Turnover | 14.7 | 14.2 | 15.0 | 16.2 | 17.3 | · |
Growth Rates 3
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Revenue YoY | 4.0% | -6.8% | 2.0% | 18.1% | 25.6% | · | |
| Revenue CAGR 3Y | -0.39% | 3.9% | 14.8% | · | · | · | |
| Revenue CAGR 5Y | 8.0% | · | · | · | · | · |
Valuation (TTM) 4
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
| Revenue TTM | $161M | $155M | $166M | $163M | $138M | · | |
| Net Income TTM | $-10M | $-20M | $-28M | $-48M | $-88M | · | |
| P/E | -15.5 | -12.3 | -4.9 | -5.0 | -5.3 | · | |
| Earnings Yield | -6.5% | -8.1% | -20.4% | -19.8% | -18.9% | · |
Income Statement 16
| 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 | $45M | $46M | $38M | $41M | $45M | $38M | $39M | $36M | $40M | $39M | $38M | $43M | $42M | $43M | $35M | $44M | |
| Cost of Revenue | $23M | $24M | $20M | $22M | $23M | $19M | $20M | $19M | $23M | $21M | $22M | $24M | $23M | $23M | $20M | $25M | |
| Gross Profit | $22M | $22M | $18M | $19M | $22M | $19M | $19M | $18M | $17M | $18M | $15M | $20M | $20M | $20M | $16M | $19M | |
| SG&A Expense | $9M | $9M | $7M | $8M | $8M | $7M | $7M | $7M | $8M | $8M | $8M | $8M | $6M | $9M | $9M | $8M | |
| Operating Expenses | $25M | $25M | $20M | $21M | $23M | $25M | $26M | $21M | $24M | $25M | $24M | $31M | $25M | $23M | $22M | $28M | |
| Operating Income | $-3M | $-2M | $-2M | $-3M | $-1M | $-6M | $-6M | $-3M | $-7M | $-7M | $-9M | $-11M | $-5M | $-3M | $-6M | $-9M | |
| Interest Income | $200.0K | $200.0K | $200.0K | $200.0K | $200.0K | $200.0K | $100.0K | $200.0K | · | · | · | · | · | · | · | · | |
| Other Non-op | $-14.0K | $47.0K | $246.0K | $-7.0K | $382.0K | $57.0K | $-420.0K | $118.0K | $142.0K | $97.0K | $-235.0K | $165.0K | $403.0K | $340.0K | $222.0K | $26.0K | |
| Pretax Income | $-3M | $-2M | $-1M | $-3M | $-634.0K | $-6M | $-7M | $-3M | $-7M | $-7M | $-9M | $-11M | $-5M | $-3M | $-6M | $-9M | |
| Income Tax | $12.0K | $37.0K | $28.0K | $-32.0K | $17.0K | $41.0K | $23.0K | $-4.0K | $34.0K | $13.0K | $21.0K | $-5.0K | $35.0K | $1.0K | $85.0K | $1.0K | |
| Net Income | $-3M | $-2M | $-212.0K | $-3M | $-697.0K | $-5M | $-3M | $-3M | $-7M | $-7M | $-9M | $-11M | $-5M | $-3M | $-6M | $-9M | |
| EPS (Basic) | $-0.04 | $-0.03 | $-0.02 | $-0.04 | $-0.01 | $-0.08 | $-0.10 | $-0.04 | $-0.10 | $-0.10 | $-0.14 | $-0.16 | $-0.08 | $-0.03 | $-0.09 | $-0.16 | |
| EPS (Diluted) | $-0.04 | $-0.03 | $-0.02 | $-0.04 | $-0.01 | $-0.08 | $-0.10 | $-0.04 | $-0.10 | $-0.10 | $-0.13 | $-0.16 | $-0.08 | $-0.04 | $-0.09 | $-0.16 | |
| Shares (Basic) | 71,833,745 | 68,205,614 | -130,593,826 | 67,326,383 | 66,332,703 | 62,950,895 | -115,350,394 | 59,490,258 | 58,653,413 | 55,890,168 | -99,602,682 | 50,754,470 | 50,094,096 | 49,372,874 | 47,368,849 | 45,938,507 | |
| Shares (Diluted) | 71,833,745 | 68,205,614 | -144,139,033 | 67,326,383 | 66,332,703 | 76,496,102 | -115,350,394 | 59,490,258 | 58,653,413 | 55,890,168 | -122,480,146 | 50,754,470 | 50,094,096 | 72,250,338 | 47,368,849 | 45,938,507 | |
| EBITDA | $-3M | $-2M | · | $-3M | $-1M | $-6M | · | $-3M | $-7M | $-7M | · | $-11M | $-5M | $-3M | · | $-9M |
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 | $28M | $27M | $25M | $26M | $26M | $28M | $31M | $33M | $29M | $29M | $32M | $39M | $47M | $56M | $47M | $49M | |
| Short-term Investments | · | · | · | · | · | · | · | · | · | · | · | · | · | · | · | $0 | |
| Receivables | $10M | $9M | $11M | $13M | $13M | $9M | $11M | $10M | $11M | $14M | $11M | $16M | $17M | $14M | $11M | $14M | |
| Inventory | $18M | $15M | $20M | $14M | $16M | $17M | $19M | $21M | $22M | $31M | $35M | $49M | $38M | $29M | $28M | $37M | |
| Prepaid Expense | $3M | $2M | $1M | $2M | $2M | $3M | $2M | $3M | $3M | $4M | $5M | $3M | $2M | $2M | $3M | $3M | |
| Other Current Assets | · | · | · | · | · | · | · | $1M | $2M | $2M | · | · | · | · | · | · | |
| Current Assets | $59M | $53M | $58M | $55M | $57M | $56M | $62M | $66M | $65M | $77M | $83M | $107M | $106M | $103M | $89M | $103M | |
| PP&E (Net) | $820.0K | $894.0K | $867.0K | $870.0K | $1M | $1M | $1M | $1M | $2M | $2M | $2M | $2M | $3M | $3M | $5M | $5M | |
| PP&E (Gross) | $3M | $4M | $3M | $4M | $4M | $4M | $4M | $5M | $5M | $5M | $5M | $5M | $5M | $5M | $7M | $8M | |
| Accum. Depreciation | $2M | $3M | $3M | $3M | $3M | $3M | $3M | $3M | $3M | $3M | $2M | $3M | $2M | $2M | $2M | $3M | |
| Intangibles | $3M | $3M | $3M | $3M | $3M | $3M | $3M | $3M | $3M | $3M | $4M | $4M | $4M | $4M | $4M | $4M | |
| Other Non-current Assets | $1M | $830.0K | $849.0K | $794.0K | $655.0K | $484.0K | $503.0K | $522.0K | $541.0K | $560.0K | $579.0K | $630.0K | $651.0K | $520.0K | $539.0K | $558.0K | |
| Total Assets | $64M | $58M | $64M | $60M | $62M | $62M | $68M | $73M | $73M | $85M | $91M | $116M | $116M | $113M | $99M | $113M | |
| Accounts Payable | $20M | $14M | $18M | $14M | $14M | $14M | $15M | $15M | $12M | $19M | $21M | $38M | $28M | $22M | $8M | $20M | |
| Accrued Liabilities | $10M | $9M | $10M | $9M | · | · | $8M | · | · | · | · | · | · | · | · | · | |
| Current Liabilities | $31M | $24M | $28M | $24M | $24M | $24M | $24M | $23M | $21M | $28M | $28M | $46M | $35M | $30M | $17M | $28M | |
| Capital Leases | · | · | $0 | $187.0K | $400.0K | $580.0K | $726.0K | $892.0K | $1M | $1M | $1M | $2M | $2M | $2M | $0 | $186.0K | |
| Other Non-current Liabilities | · | · | $0 | $58.0K | $58.0K | $58.0K | $58.0K | $58.0K | · | · | $0 | · | · | · | · | · | |
| Total Liabilities | $31M | $24M | $28M | $24M | $25M | $25M | $25M | $24M | $22M | $29M | $29M | $47M | $37M | $32M | $17M | $29M | |
| Paid-in Capital | $180M | $178M | $182M | $181M | $180M | $180M | $186M | $188M | $188M | $187M | $191M | $195M | $194M | $191M | $190M | $189M | |
| Retained Earnings | $-136M | $-134M | $-131M | $-130M | $-127M | $-127M | $-121M | $-116M | $-113M | $-107M | $-101M | $-94M | $-86M | $-82M | $-80M | $-75M | |
| Stockholders' Equity | $44M | $45M | $51M | $51M | $53M | $54M | $65M | $73M | $75M | $80M | $90M | $101M | $108M | $110M | $110M | $114M | |
| Liabilities + Equity | $64M | $58M | $64M | $60M | $62M | $62M | $68M | $73M | $73M | $85M | $91M | $116M | $116M | $113M | $99M | $113M |
Cash Flow 12
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $183.0K | $168.0K | $178.0K | $202.0K | $236.0K | $252.0K | $288.0K | $310.0K | $403.0K | $328.0K | $381.0K | $411.0K | $404.0K | $419.0K | $342.0K | $326.0K | |
| Stock-based Comp | $2M | $894.0K | $1M | $950.0K | $982.0K | $731.0K | $1M | $1M | $1M | $1M | $2M | $2M | $2M | $2M | $3M | $7M | |
| Amort. of Intangibles | $100.0K | $100.0K | $-100.0K | $100.0K | $100.0K | $100.0K | $0 | $100.0K | $100.0K | $100.0K | $0 | $200.0K | $200.0K | $200.0K | $100.0K | $200.0K | |
| Restructuring | $1M | $0 | $0 | $0 | $31.0K | $2M | $1M | $112.0K | $865.0K | $0 | $0 | $0 | $0 | · | · | · | |
| Other Non-cash | · | $3M | · | · | · | $2M | · | · | · | $2M | · | · | · | $10M | · | · | |
| Operating Cash Flow | $2M | $2M | $-507.0K | $116.0K | $-1M | $-3M | $-2M | $4M | $282.0K | $-3M | $-7M | $-11M | $-8M | $9M | $-1M | $208.0K | |
| CapEx | $124.0K | $270.0K | $81.0K | $181.0K | $34.0K | $11.0K | $45.0K | · | · | · | · | · | $670.0K | $862.0K | · | $625.0K | |
| Investing Cash Flow | $-124.0K | $-270.0K | $-81.0K | $-181.0K | $-34.0K | $-11.0K | $-45.0K | $-145.0K | $-60.0K | $-33.0K | $19.0K | $2M | $-601.0K | $-862.0K | $-411.0K | $-625.0K | |
| Financing Cash Flow | $-307.0K | $-131.0K | $-87.0K | $-207.0K | $5.0K | $0 | $0 | $0 | $0 | $0 | $0 | $2.0K | $0 | $23.0K | $6.0K | $5.0K | |
| Net Change in Cash | $2M | $1M | $-675.0K | $-272.0K | $-1M | $-3M | $-2M | $4M | $222.0K | $-3M | $-7M | $-8M | $-9M | $9M | $-2M | $-412.0K | |
| Taxes Paid | $31.0K | $40.0K | $22.0K | $1.0K | $18.0K | $4.0K | $-5.0K | $11.0K | $59.0K | $20.0K | $33.0K | $24.0K | $18.0K | $52.0K | $69.0K | $0 | |
| Free Cash Flow | · | $1M | · | · | · | · | · | · | · | · | · | · | · | $9M | · | · |
Profitability 8
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 48.9% | 48.4% | · | 45.6% | 48.7% | 50.1% | · | 49.1% | 41.9% | 45.7% | · | 45.4% | 46.6% | 46.4% | · | 43.3% | |
| Operating Margin | -6.4% | -5.1% | · | -7.0% | -2.3% | -16.8% | · | -8.2% | -17.5% | -18.8% | · | -26.5% | -12.7% | -7.5% | · | -20.8% | |
| Net Margin | -6.2% | -4.9% | · | -6.6% | -1.5% | -16.8% | · | -7.8% | -17.2% | -18.6% | · | -26.1% | -11.9% | -6.7% | · | -20.8% | |
| Pretax Margin | -6.5% | -5.1% | · | -7.0% | -1.4% | -16.7% | · | -7.8% | -17.1% | -18.5% | · | -26.1% | -11.8% | -6.7% | · | -20.8% | |
| EBITDA Margin | -6.4% | -4.8% | · | -7.0% | -2.3% | -16.1% | · | -8.2% | -17.5% | -17.9% | · | -26.5% | -12.7% | -6.5% | · | -20.8% | |
| ROA | -4.4% | -3.8% | · | -4.0% | -0.96% | -8.7% | · | -3.0% | -7.4% | -7.3% | · | -9.8% | -4.4% | -2.5% | · | -7.5% | |
| ROE | -5.8% | -4.6% | · | -4.3% | -1.0% | -9.5% | · | -3.3% | -7.6% | -7.6% | · | -10.4% | -4.5% | -2.5% | · | -8.0% | |
| ROIC | -6.6% | -5.4% | · | -5.5% | -2.0% | -12.0% | · | -4.1% | -9.5% | -9.1% | · | -11.3% | -5.0% | -3.0% | · | -8.1% |
Liquidity & Solvency 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.9 | 2.2 | · | 2.3 | 2.3 | 2.3 | · | 2.8 | 3.1 | 2.8 | · | 2.4 | 3.0 | 3.4 | · | 3.6 | |
| Quick Ratio | 1.2 | 1.5 | · | 1.6 | 1.6 | 1.5 | · | 1.8 | 1.9 | 1.5 | · | 1.2 | 1.8 | 2.3 | · | 2.2 |
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 | 0.7 | 0.8 | · | 0.6 | 0.7 | 0.5 | · | 0.4 | 0.4 | 0.4 | · | 0.4 | 0.4 | 0.4 | · | 0.4 | |
| Inventory Turnover | 1.4 | 1.5 | · | 1.3 | 1.2 | 0.8 | · | 0.5 | 0.8 | 0.7 | · | 0.5 | 0.6 | 0.8 | · | 0.8 | |
| Receivables Turnover | 3.9 | 5.2 | · | 3.6 | 3.6 | 3.3 | · | 2.8 | 2.9 | 2.7 | · | 2.9 | 2.5 | 3.1 | · | 3.2 |
Valuation (TTM) 4
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $176M | $169M | · | $160M | $159M | $154M | · | $153M | $160M | $162M | · | $164M | $165M | $168M | · | $162M | |
| Net Income TTM | $-8M | $-11M | · | $-12M | $-17M | $-23M | · | $-26M | $-35M | $-33M | · | $-25M | $-23M | $-33M | · | $-79M | |
| P/E | -13.6 | -7.3 | · | -16.0 | -14.0 | -6.8 | · | -2.8 | -1.4 | -2.4 | · | -6.0 | -11.6 | -6.9 | · | -3.3 | |
| Earnings Yield | -7.4% | -13.7% | · | -6.2% | -7.1% | -14.8% | · | -35.2% | -74.1% | -41.0% | · | -16.7% | -8.6% | -14.5% | · | -30.1% |
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 | $161M | $155M | $166M | $163M | $138M |
| Gross Margin % | 48.0% | 46.4% | 44.9% | 42.9% | 44.3% |
| Operating Margin % | -7.3% | -15.3% | -17.4% | -29.3% | -63.3% |
| Net Income | $-10M | $-20M | $-28M | $-48M | $-88M |
| Diluted EPS | $-0.15 | $-0.34 | $-0.41 | $-0.81 | $-1.33 |
Balance Sheet
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Current Ratio | 2.1 | 2.6 | 3.0 | 5.2 | 5.7 |
| Quick Ratio | 1.3 | 1.7 | 1.6 | 3.4 | 4.0 |
Cash Flow
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Free Cash Flow | $-5M | — | — | $-23M | $-21M |
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Institutional owners (13F) 110 filers · $68.4M 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 |
|---|---|---|---|---|
| 30 (-3 vs prior Q) | 38 (+20 vs prior Q) | 34 (-5 vs prior Q) | 27 (-3 vs prior Q) | -659K |
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 |
|---|---|---|---|---|
| Caisse de depot et placement du Quebec | $18,582,698 | 11,400,428 | 27.16% | Shares |
| Topline Capital Management, LLC | $11,699,364 | 7,177,524 | 17.10% | Shares |
| VANGUARD GROUP INC | $4,658,746 | 2,008,080 | 6.81% | Shares |
| Kanen Wealth Management LLC | $4,594,561 | 2,693,236 | 6.71% | Shares |
| MACKENZIE FINANCIAL CORP | $4,353,239 | 2,670,699 | 6.36% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $3,454,242 | 2,119,167 | 5.05% | Shares |
| Jefferies Financial Group Inc. | $3,422,803 | 2,099,879 | 5.00% | Shares |
| Stoic Point Capital Management LLC | $1,849,991 | 1,134,964 | 2.70% | Shares |
| Squarepoint Ops LLC | $1,254,538 | 769,655 | 1.83% | Shares |
| RENAISSANCE TECHNOLOGIES LLC | $1,248,402 | 765,891 | 1.82% | Shares |
| OneAscent Financial Services LLC | $1,223,111 | 750,375 | 1.79% | Shares |
| BCS Private Wealth Management, Inc. | $1,139,678 | 699,189 | 1.67% | Shares |
| BRIGHTON JONES LLC | $953,076 | 584,709 | 1.39% | Shares |
| D. E. Shaw & Co., Inc. | $900,731 | 552,596 | 1.32% | Shares |
| TWO SIGMA ADVISERS, LP | $828,704 | 357,200 | 1.21% | Shares |
| TWO SIGMA INVESTMENTS, LP | $737,389 | 452,386 | 1.08% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $517,718 | 317,346 | 0.76% | Shares |
| Potrero Capital Research LLC | $513,745 | 315,181 | 0.75% | Shares |
| CANADA PENSION PLAN INVESTMENT BOARD | $443,523 | 272,100 | 0.65% | Shares |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | $422,578 | 259,250 | 0.62% | Shares |
| MILLENNIUM MANAGEMENT LLC | $385,537 | 236,526 | 0.56% | Shares |
| TD Waterhouse Canada Inc. | $358,746 | 198,150 | 0.52% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $341,570 | 209,552 | 0.50% | Shares |
| Qube Research & Technologies Ltd | $331,663 | 203,474 | 0.48% | Shares |
| STATE STREET CORP | $307,790 | 188,828 | 0.45% | Shares |
| HSBC HOLDINGS PLC | $298,493 | 187,143 | 0.44% | Shares |
| XTX Topco Ltd | $289,196 | 177,421 | 0.42% | Shares |
| Focus Partners Wealth | $247,622 | 151,915 | 0.36% | Shares |
| JANE STREET GROUP, LLC | $230,446 | 141,378 | 0.34% | Shares |
| Centiva Capital, LP | $207,180 | 127,104 | 0.30% | Shares |
| GOLDMAN SACHS GROUP INC | $204,484 | 125,450 | 0.30% | Shares |
| IEQ CAPITAL, LLC | $198,554 | 121,812 | 0.29% | Shares |
| MARSHALL WACE, LLP | $186,146 | 114,200 | 0.27% | Shares |
| BlackRock, Inc. | $179,818 | 110,318 | 0.26% | Shares |
| Mariner, LLC | $149,698 | 91,841 | 0.22% | Shares |
| Cubist Systematic Strategies, LLC | $146,045 | 53,693 | 0.21% | Shares |
| BRIDGEWAY CAPITAL MANAGEMENT, LLC | $139,528 | 85,600 | 0.20% | Shares |
| NORTHERN TRUST CORP | $133,971 | 82,191 | 0.20% | Shares |
| JACOBS LEVY EQUITY MANAGEMENT, INC | $129,565 | 79,488 | 0.19% | Shares |
| NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO | $82,064 | 50,346 | 0.12% | Shares |
| JPMORGAN CHASE & CO | $73,175 | 46,608 | 0.11% | Shares |
| CITADEL ADVISORS LLC | $71,720 | 44,000 | 0.10% | Call option |
| CITADEL ADVISORS LLC | $59,818 | 36,698 | 0.09% | Shares |
| NWAM LLC | $58,462 | 35,866 | 0.09% | Shares |
| WEALTH ENHANCEMENT ADVISORY SERVICES, LLC | $53,219 | 30,941 | 0.08% | Shares |
| MERCER GLOBAL ADVISORS INC /ADV | $53,185 | 32,629 | 0.08% | Shares |
| Vanguard Personalized Indexing Management, LLC | $45,909 | 28,165 | 0.07% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $45,568 | 27,956 | 0.07% | Shares |
| Schonfeld Strategic Advisors LLC | $42,032 | 25,787 | 0.06% | Shares |
| CITADEL ADVISORS LLC | $39,446 | 24,200 | 0.06% | Put option |
| Creative Planning | $38,890 | 23,859 | 0.06% | Shares |
| CAPTRUST FINANCIAL ADVISORS | $28,804 | 17,671 | 0.04% | Shares |
| Ruggaard & Associates LLC | $27,710 | 17,000 | 0.04% | Shares |
| Tower Research Capital LLC (TRC) | $27,232 | 16,707 | 0.04% | Shares |
| Vanguard Global Advisers, LLC | $26,916 | 16,513 | 0.04% | Shares |
| TOCQUEVILLE ASSET MANAGEMENT L.P. | $26,452 | 16,228 | 0.04% | Shares |
| KESTRA PRIVATE WEALTH SERVICES, LLC | $25,267 | 15,501 | 0.04% | Shares |
| CWM, LLC | $24,509 | 20,948 | 0.04% | Shares |
| Quadrature Capital Ltd | $24,474 | 15,015 | 0.04% | Shares |
| DIMENSIONAL FUND ADVISORS LP | $23,642 | 14,504 | 0.03% | Shares |
| Pallas Capital Advisors LLC | $22,771 | 13,970 | 0.03% | Shares |
| OSAIC HOLDINGS, INC. | $22,205 | 13,623 | 0.03% | Shares |
| IHT Wealth Management, LLC | $21,190 | 13,000 | 0.03% | Shares |
| C2P Capital Advisory Group, LLC d.b.a. Prosperity Capital Advisors | $19,749 | 12,116 | 0.03% | Shares |
| AXQ CAPITAL, LP | $17,267 | 10,593 | 0.03% | Shares |
| WELLS FARGO & COMPANY/MN | $16,708 | 10,250 | 0.02% | Shares |
| Field & Main Bank | $16,300 | 10,000 | 0.02% | Shares |
| Catalina Capital Group, LLC | $15,939 | 13,623 | 0.02% | Shares |
| Arax Advisory Partners | $15,780 | 9,681 | 0.02% | Shares |
| Cerity Partners LLC | $12,034 | 7,383 | 0.02% | Shares |
| FMR LLC | $9,915 | 6,083 | 0.01% | Shares |
| JONES FINANCIAL COMPANIES LLLP | $9,750 | 6,250 | 0.01% | Shares |
| UBS Group AG | $8,390 | 5,147 | 0.01% | Shares |
| SBI Securities Co., Ltd. | $8,375 | 5,138 | 0.01% | Shares |
| BARCLAYS PLC | $5,350 | 3,282 | 0.01% | Shares |
| AQR CAPITAL MANAGEMENT LLC | $5,237 | 3,213 | 0.01% | Shares |
| Allworth Financial LP | $3,997 | 2,452 | 0.01% | Shares |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM | $3,517 | 3,006 | 0.01% | Shares |
| MORGAN STANLEY | $3,315 | 2,034 | 0.00% | Shares |
| Integrated Wealth Concepts LLC | $3,278 | 2,010 | 0.00% | Shares |
| Essential Partners LLC | $3,006 | 1,844 | 0.00% | Shares |
| Russell Investments Group, Ltd. | $2,186 | 1,341 | 0.00% | Shares |
| FEDERATED HERMES, INC. | $1,664 | 1,021 | 0.00% | Shares |
| LRI Investments, LLC | $1,630 | 1,000 | 0.00% | Shares |
| ROTHSCHILD INVESTMENT LLC | $1,301 | 798 | 0.00% | Shares |
| SIMPLEX TRADING, LLC | $1,227 | 753 | 0.00% | Shares |
| RAYMOND JAMES FINANCIAL INC | $1,146 | 703 | 0.00% | Shares |
| Fortitude Family Office, LLC | $1,086 | 666 | 0.00% | Shares |
| Farther Finance Advisors, LLC | $1,063 | 659 | 0.00% | Shares |
| BNP PARIBAS FINANCIAL MARKETS | $944 | 579 | 0.00% | Shares |
| True Wealth Design, LLC | $900 | 552 | 0.00% | Shares |
| Global Retirement Partners, LLC | $734 | 450 | 0.00% | Shares |
| GSA CAPITAL PARTNERS LLP | $665 | 407,999 | 0.00% | Shares |
| GROUP ONE TRADING LLC | $474 | 291 | 0.00% | Shares |
| EverSource Wealth Advisors, LLC | $391 | 240 | 0.00% | Shares |
| PNC Financial Services Group, Inc. | $341 | 209 | 0.00% | Shares |
| IFP Advisors, Inc | $248 | 152 | 0.00% | Shares |
| Parallel Advisors, LLC | $245 | 150 | 0.00% | Shares |
| GAMMA Investing LLC | $227 | 139 | 0.00% | Shares |
| NATIONAL BANK OF CANADA /FI/ | $162 | 100 | 0.00% | Shares |
Company insiders 20 insiders · 11 officers · 10 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Alexandre Ruberti | President & CEO | June 15, 2026 A | 1,214,410 | 0 | 0 | $0 |
| Amy Taylor | President & CEO | Jan. 24, 2024 S | 390,044 | 0 | 0 | $0 |
| Florence Neubauer | Interim CFO | Oct. 9, 2023 S | 34,222 | 0 | 0 | $0 |
| Denise Dawn Beckles | Chief Financial Officer | May 18, 2023 S | 271,528 | 0 | 0 | $0 |
| William D. Beech | Chief Financial Officer and Senior Vice President | July 26, 2021 D | — | 0 | 0 | $0 |
| Quincy B Troupe | Chief Operating Officer | June 15, 2023 S | 208,502 | 0 | 0 | $0 |
| Harry Margolis | Chief Operating Officer | May 18, 2022 S | 754,212 | 0 | 0 | $0 |
| Lorna R. Simms | SVP, GC & Corporate Secretary | Jan. 24, 2024 S | 104,797 | 0 | 0 | $0 |
| Hany Mikhail | Chief Accounting Officer | Jan. 24, 2024 S | 51,182 | 0 | 0 | $0 |
| Greig P. Debow Jr. | Chief Commercial Officer | Aug. 16, 2023 S | 127,642 | 0 | 0 | $0 |
| Robert Gay | Chief Strategy Officer & EVP | May 18, 2022 S | 885,790 | 0 | 0 | $0 |
| Suzanne Saltzman Ginestro | Director | June 10, 2026 A | 101,969 | 0 | 0 | $0 |
| Andrew Ruben | Director | June 10, 2026 A | 299,432 | 0 | 0 | $0 |
| Julie Garcia Ruehl | Director | June 10, 2026 A | 334,432 | 0 | 0 | $0 |
| David J. Lee | Director | June 10, 2026 A | 279,962 | 0 | 0 | $0 |
| Padraic L. Spence | Director | June 10, 2026 A | 1,627,881 | 0 | 0 | $0 |
| Jacqueline Hayes | Director | June 15, 2023 A | 73,791 | 0 | 0 | $0 |
| Rosemary L Ripley | Director | June 15, 2023 A | 34,506 | 0 | 0 | $0 |
| Brian Mcguigan | Director | Dec. 9, 2021 P | 1,160 | 0 | 0 | $0 |
| NORTHWOOD VENTURES LLC | 10% owner | July 26, 2021 J | 801,982 | 0 | 0 | $0 |
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 |
|---|---|---|---|---|---|
| CDP Investissements Inc., Caisse de depot et placement du Quebec ×5 filings | May 28, 2026 | 15.90% | Amendment | — | 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 |
|---|---|---|---|---|
| ITWO · ProShares Trust | 0.00% | 2,615 NS | May 31, 2026 | N-PORT |
| RSSL · Global X Funds | 0.00% | 24,446 NS | April 30, 2026 | N-PORT |
| UWM · ProShares Trust | 0.00% | 2,044 NS | May 31, 2026 | N-PORT |
| URTY · ProShares Trust | 0.00% | 2,066 NS | May 31, 2026 | N-PORT |
| HDG · ProShares Trust | 0.00% | 52 NS | May 31, 2026 | N-PORT |
| DCOR · Dimensional ETF Trust | 0.00% | 5,842 NS | April 30, 2026 | N-PORT |
| DFAS · Dimensional ETF Trust | 0.00% | 19,797 NS | April 30, 2026 | N-PORT |
| DFAC · Dimensional ETF Trust | 0.00% | 16,006 NS | April 30, 2026 | N-PORT |
| VXF · VANGUARD INDEX FUNDS | — | — | July 15, 2026 | Daily |
| VTI · VANGUARD INDEX FUNDS | — | — | July 15, 2026 | Daily |
| IWC · iShares Trust | — | — | Aug. 18, 2026 | Daily |