OPENL Opendoor Technologies Inc - Series A Warrants, each whole warrant exercisable to purchase one share of Common Stock at an exercise price of $13.00 per warrant

NASDAQ · Visualizza su SEC EDGAR ↗ chiudi Ott 2, 2026 10-K/10-Q Feb 19, 2026

$0,08 · % dell'intervallo 52 sett.

· sopra il minimo · al massimo

$0,06minimo 52 sett. $1,21massimo 52 sett.

Capitalizzazione di Mercato (MRQ) $77M

P/E (TTM) -0.0

EPS (TTM) $-1.70

Ricavi (TTM) $4.37B

i tuoi badge Intervallo 52 sett. $0–$1 2% of range Rating Analisti · Prezzo Obiettivo · P/E -0.0 ROE -151.3% Margine di Profitto Netto -29.7%

OPENL Snapshot del titolo Prezzo, capitalizzazione di mercato, P/E, EPS, ROE, debito/capitale proprio, intervallo 52 settimane

Prezzo $0.08

Capitalizzazione di Mercato (MRQ) $77M

P/E (TTM) -0.0

EPS (TTM) $-1.70

Ricavi (TTM) $4.37B

ROE (TTM) -151.3%

Intervallo 52 sett. $0–$1

OPENL Grafico del prezzo delle azioni OHLCV giornaliero con indicatori tecnici — panoramica, zoom e personalizza la tua visualizzazione

intervallo

barre

La granularità delle barre si adatta al periodo selezionato — passa il mouse sul grafico per vedere apertura/massimo/minimo/chiusura di una barra.

Performance decennale Andamento di ricavi, utile netto, margini e EPS

Ricavi$4.37B

2018-12-31 → 2025-12-31

EPS$-1.70

2018-12-31 → 2025-12-31

Flusso di cassa libero$1.04B

2020-12-31 → 2025-12-31

Margine netto-29.7%

2020-12-31 → 2025-12-31

Valutazione e Rapporti 07–12

Valutazione Rapporti P/E, P/S, P/B, EV/EBITDA — il titolo è costoso o economico?

Metrica	OPENL	media 5 anni	Mediana dei peer	Verdetto
P/E (TTM)	-0.0	·	·	·
P/S (TTM)	0.0	·	·	·
P/B (MRQ)	0.1	·	·	·
Prezzo / FCF (TTM)	0.1	·	·	·
Prezzo / Flusso di cassa (TTM)	0.1	·	·	·
Prezzo / Valore contabile tangibile (MRQ)	0.1	·	·	·

La mediana dei peer viene calcolata su base standardizzata per metrica e potrebbe non corrispondere sempre alla base TTM/MRQ mostrata per questo titolo.

Redditività Margini lordi, operativi e netti; ROE, ROA, ROIC

Metrica	OPENL	media 5 anni	Mediana dei peer	Verdetto
Margine lordo (TTM)	8.0%media 5 anni ≈7.4%	≈7.4%	·	·
Margine Operativo (TTM)	-6.6%media 5 anni ≈-6.3%	≈-6.3%	·	·
Margine EBITDA (TTM)	-5.9%media 5 anni ≈-5.8%	≈-5.8%	·	·
Margine ante imposte (TTM)	-29.7%media 5 anni ≈-11.6%	≈-11.6%	·	·
Margine di Profitto Netto (TTM)	-29.7%media 5 anni ≈-11.7%	≈-11.7%	·	·
ROA (TTM)	-47.0%media 5 anni ≈-18.4%	≈-18.4%	·	·
ROE (TTM)	-151.3%media 5 anni ≈-74.4%	≈-74.4%	·	·
ROIC	-28.6%media 5 anni ≈-45.0%	≈-45.0%	·	·

Salute finanziaria Debito, liquidità, solvibilità — solidità del bilancio

Metrica	Tendenza 5 anni	OPENL	media 5 anni	Mediana dei peer	Verdetto
Rapporto corrente (MRQ)		7.0media 5 anni ≈13.7	≈13.7	·	·
Quick Ratio		2.9media 5 anni ≈4.2	≈4.2	·	·

Crescita Crescita di ricavi, EPS e utile netto: YoY, CAGR 3Y, CAGR 5Y

Metrica	OPENL	media 5 anni	Mediana dei peer	Verdetto
Revenue YoY (Ricavi YoY)	-15.2%media 5 anni ≈41.6%	≈41.6%	·	·
Revenue CAGR 3Y (CAGR Ricavi 3Y)	-34.5%media 5 anni ≈-3.1%	≈-3.1%	·	·
Revenue CAGR 5Y (CAGR Ricavi 5Y)	11.1%	·	·	·

Metriche per Azione EPS, valore contabile per azione, flusso di cassa per azione, dividendo per azione

Metrica	OPENL	media 5 anni	Mediana dei peer	Verdetto
EPS (Diluted) (EPS (Diluito))	$-1.70media 5 anni ≈$-1.19	≈$-1.19	·	·
Revenue / Share (Ricavi / Azione)	$5.70media 5 anni ≈$12.40	≈$12.40	·	·
Cash Flow / Share (Flusso di cassa / Azione)	$1.37media 5 anni ≈$-0.91	≈$-0.91	·	·
Cash / Share (Liquidità / Azione)	$1.00media 5 anni ≈$1.60	≈$1.60	·	·

Efficienza del Capitale Rotazione delle attività, rotazione delle scorte, rotazione dei crediti

Metrica	Tendenza 5 anni	OPENL	media 5 anni	Mediana dei peer	Verdetto
Asset Turnover (Rotazione delle attività)		1.6media 5 anni ≈1.6	≈1.6	·	·
Revenue / Employee (Ricavi / Dipendente)		≈$4.2M	·	·	·

valore · ≈ media 5 anni · mediana del settore · giudizio rispetto alla mediana

Fondamentali Completi Tutte le metriche per anno — conto economico, stato patrimoniale, rendiconto finanziario

Conto Economico 17

Metrica	2025	2024	2023	2022	2021	2020	2019	2018
Revenue	$4.37B	$5.15B	$6.95B	$15.57B	$8.02B	$2.58B	$4.74B	$1.84B
Cost of Revenue	$4.02B	$4.72B	$6.46B	$14.90B	$7.29B	$2.36B	$4.44B	$1.70B
Gross Profit	$350M	$433M	$487M	$667M	$730M	$220M	$301M	$133M
R&D Expense	$79M	$141M	$167M	$169M	$134M	$56M	$51M	$28M
SG&A Expense	$238M	$182M	$206M	$346M	$620M	$132M	$114M	$72M
Operating Expenses	$637M	$753M	$873M	$1.60B	$1.30B	$406M	$549M	$297M
Operating Income	$-287M	$-320M	$-386M	$-931M	$-568M	$-186M	$-248M	$-164M
Interest Expense	·	·	$211M	$385M	$143M	$68M	$110M	$60M
Other Non-op	$42M	$64M	$107M	$-10M	$38M	$4M	$13M	$3M
Pretax Income	$-1.30B	$-391M	$-274M	$-1.35B	$-661M	$-253M	$-339M	$-240M
Income Tax	$0	$1M	$1M	$2M	$1M	$0	$0	$377.0K
Net Income	$-1.30B	$-392M	$-275M	$-1.35B	$-662M	$-253M	$-341M	$-241M
EPS (Basic)	$-1.70	$-0.56	$-0.42	$-2.16	$-1.12	$-2.31	$-4.26	$-3.16
EPS (Diluted)	$-1.70	$-0.56	$-0.42	$-2.16	$-1.12	$-2.31	$-4.37	$-3.16
Shares (Basic)	766,531,000	699,457,000	657,111,000	627,105,000	592,574,000	109,301,000	79,977,000	78,564,000
Shares (Diluted)	766,531,000	699,457,000	657,111,000	627,105,000	592,574,000	109,301,000	79,977,000	78,564,000
EBITDA	$-256M	$-287M	$-348M	$-894M	$-541M	$-164M	·	·

Stato Patrimoniale 27

Metrica	2025	2024	2023	2022	2021	2020	2019	2018
Cash & Equivalents	$962M	$671M	$999M	$1.14B	$1.73B	$1.41B	$405M	$262M
Short-term Investments	$0	$8M	$69M	$144M	$484M	$48M	·	·
Prepaid Expense	·	·	·	·	·	·	$0	·
Other Current Assets	$69M	$61M	$52M	$41M	$91M	$24M	$31M	·
Current Assets	$2.30B	$3.00B	$3.44B	$6.47B	$9.34B	$2.05B	$2.09B	·
PP&E (Net)	$27M	$48M	$66M	$58M	$45M	$29M	$35M	·
PP&E (Gross)	$117M	$123M	$166M	$148M	$102M	$63M	$55M	·
Accum. Depreciation	$90M	$75M	$100M	$90M	$57M	$34M	$20M	·
Goodwill	$3M	$3M	$4M	$4M	$60M	$31M	$31M	·
Intangibles	$0	$0	$5M	$12M	$12M	$9M	$12M	·
Other Non-current Assets	$70M	$60M	$22M	$27M	$7M	$4M	$5M	·
Total Assets	$2.41B	$3.13B	$3.57B	$6.61B	$9.51B	$2.18B	$2.23B	·
Accounts Payable	$80M	$92M	$64M	$110M	$137M	$25M	$33M	·
Accrued Liabilities	$20M	$30M	$34M	$47M	$66M	$11M	$16M	·
Current Liabilities	$327M	$529M	$70M	$1.50B	$4.40B	$393M	$1.13B	·
Capital Leases	$6M	$13M	$19M	$38M	$42M	$47M	$48M	·
Other Non-current Liabilities	$1M	$1M	$1M	$0	·	$94.0K	$208.0K	·
Total Liabilities	$1.40B	$2.41B	$2.60B	$5.52B	$7.26B	$623M	$1.58B	·
Long-term Debt	·	·	·	·	·	$135M	·	·
Total Debt	·	·	·	·	·	$346M	·	·
Common Stock	$0	$0	$0	$0	$0	$0	$0	·
Paid-in Capital	$6.04B	$4.44B	$4.30B	$4.15B	$3.96B	$2.60B	$57M	·
Retained Earnings	$-5.03B	$-3.73B	$-3.33B	$-3.06B	$-1.71B	$-1.04B	$-790M	·
AOCI	$0	$0	$-1M	$-4M	$-2M	$0	$18.0K	·
Stockholders' Equity	$1.00B	$713M	$967M	$1.09B	$2.25B	$1.55B	$-733M	$-414M
Liabilities + Equity	$2.41B	$3.13B	$3.57B	$6.61B	$9.51B	$2.18B	$2.23B	·
Shares Outstanding	957,245,487	719,990,121	677,636,163	637,387,025	616,026,565	540,714,692	83,748,443	·

Flusso di cassa 16

Metrica	2025	2024	2023	2022	2021	2020	2019	2018
D&A	$31M	$33M	$38M	$37M	$27M	$22M	$15M	$5M
Stock-based Comp	$159M	$114M	$126M	$171M	$536M	$38M	$13M	$8M
Amort. of Intangibles	·	$4M	$7M	$9M	$4M	$4M	$3M	$600.0K
Restructuring	$10M	$17M	$14M	$17M	$0	$29M	·	·
Other Non-cash	$2.16B	$-350M	$2.46B	$1.88B	$-5.70B	$909M	·	·
Operating Cash Flow	$1.05B	$-595M	$2.34B	$730M	$-5.79B	$682M	$-272M	$-1.18B
CapEx	$12M	$25M	$37M	$37M	$33M	$17M	$28M	$20M
Investing Cash Flow	$-12M	$28M	$44M	$234M	$-476M	$-22M	$-95M	$-7M
Stock Issued	$198M	$0	$0	$0	$886M	$0	$0	$0
Stock Repurchased	·	·	·	·	$0	$0	$3M	$38M
Net Stock Activity	$198M	·	$0	$0	$886M	$82.0K	·	·
Financing Cash Flow	$-499M	$-210M	$-2.64B	$-1.75B	$7.34B	$161M	$646M	$1.50B
Net Change in Cash	$538M	$-777M	$-251M	$-787M	$1.07B	$821M	$279M	$309M
Taxes Paid	$0	·	·	·	·	·	·	·
Free Cash Flow	$1.04B	$-620M	$2.31B	$693M	$-5.83B	$665M	·	·
Levered FCF	·	·	$2.10B	$307M	$-5.97B	$597M	·	·

Redditività 8

Metrica	2025	2024	2023	2022	2021	2020	2019	2018
Gross Margin	8.0%	8.4%	7.0%	4.3%	9.1%	8.5%	·	·
Operating Margin	-6.6%	-6.2%	-5.6%	-6.0%	-7.1%	-7.2%	·	·
Net Margin	-29.7%	-7.6%	-4.0%	-8.7%	-8.2%	-11.1%	·	·
Pretax Margin	-29.7%	-7.6%	-3.9%	-8.7%	-8.2%	-11.1%	·	·
EBITDA Margin	-5.9%	-5.6%	-5.0%	-5.7%	-6.7%	-6.4%	·	·
ROA	-47.0%	-11.7%	-5.4%	-16.8%	-11.3%	-13.0%	·	·
ROE	-158.9%	-51.8%	-27.7%	-105.1%	-28.7%	-64.3%	·	·
ROIC	-28.6%	-45.0%	-40.1%	-85.9%	-25.3%	-9.6%	·	·

Liquidità e Solvibilità 4

Metrica	2025	2024	2023	2022	2021	2020	2019	2018
Current Ratio	7.0	5.7	49.2	4.3	2.1	5.2	·	·
Quick Ratio	2.9	1.3	15.3	0.9	0.5	3.6	·	·
Debt / Equity	·	·	·	·	·	0.2	·	·
Interest Coverage	·	·	-1.8	-2.4	-4.0	-2.7	·	·

Efficienza 1

Metrica	Tendenza	2025	2024	2023	2022	2021	2020	2019	2018
Asset Turnover		1.6	1.5	1.4	1.9	1.4	1.2	·	·

Per Azione 5

Metrica	2025	2024	2023	2022	2021	2020	2019	2018
Book Value / Share	$1.05	$0.99	$1.43	$1.70	$3.65	$2.96	·	·
Revenue / Share	$5.70	$7.37	$10.57	$24.82	$13.54	$23.63	·	·
Cash Flow / Share	$1.37	$-0.85	$3.57	$1.16	$-9.78	$6.24	·	·
Cash / Share	$1.00	$0.93	$1.47	$1.78	$2.81	$2.61	·	·
EPS (TTM)	$-1.70	$-0.56	$-0.42	$-2.16	$-1.12	$-2.31	·	·

Tassi di Crescita 3

Metrica	2025	2024	2023	2022	2021	2020	2019	2018
Revenue YoY	-15.2%	-25.8%	-55.4%	94.1%	210.5%	·	·	·
Revenue CAGR 3Y	-34.5%	-13.7%	39.1%	·	·	·	·	·
Revenue CAGR 5Y	11.1%	·	·	·	·	·	·	·

Valutazione (TTM) 10

Metrica	2025	2024	2023	2022	2021	2020	2019	2018
Revenue TTM	$4.37B	$5.15B	$6.95B	$15.57B	$8.02B	$2.58B	·	·
Net Income TTM	$-1.30B	$-392M	$-275M	$-1.35B	$-662M	$-253M	·	·
Market Cap	$498M	·	·	·	·	·	·	·
P/E	-0.3	·	·	·	·	·	·	·
P/S	0.1	·	·	·	·	·	·	·
P/B	0.5	·	·	·	·	·	·	·
P / Tangible Book	0.5	·	·	·	·	·	·	·
P / Cash Flow	0.5	·	·	·	·	·	·	·
P / FCF	0.5	·	·	·	·	·	·	·
Earnings Yield	-326.9%	·	·	·	·	·	·	·

Conto Economico 17

Metrica	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	Q2 2022	Q1 2022
Revenue	$736M	$915M	$1.57B	$1.15B	$1.08B	$1.38B	$1.51B	$1.18B	$870M	$980M	$1.98B	$3.12B	$2.86B	$3.36B	$4.20B	$5.15B
Cost of Revenue	$679M	$849M	$1.44B	$1.05B	$999M	$1.27B	$1.38B	$1.07B	$798M	$884M	$1.83B	$2.95B	$2.79B	$3.79B	$3.71B	$4.62B
Gross Profit	$57M	$66M	$128M	$99M	$85M	$105M	$129M	$114M	$72M	$96M	$149M	$170M	$71M	$-425M	$486M	$535M
R&D Expense	$18M	$19M	$21M	$21M	$33M	$30M	$37M	$41M	$46M	$42M	$39M	$40M	$48M	$40M	$41M	$40M
SG&A Expense	$129M	$48M	$28M	$33M	$41M	$46M	$48M	$47M	$48M	$48M	$44M	$66M	$23M	$85M	$137M	$101M
Operating Expenses	$207M	$134M	$141M	$155M	$179M	$172M	$201M	$201M	$187M	$175M	$217M	$294M	$342M	$385M	$454M	$417M
Operating Income	$-150M	$-68M	$-13M	$-56M	$-94M	$-67M	$-72M	$-87M	$-115M	$-79M	$-68M	$-124M	$-271M	$-810M	$32M	$118M
Interest Expense	·	·	·	·	·	·	·	$37M	·	$47M	$53M	$74M	·	$115M	$89M	$68M
Other Non-op	$14M	$14M	$10M	$4M	$14M	$23M	$12M	$15M	$27M	$20M	$41M	$19M	$10M	$-2M	$4M	$-22M
Pretax Income	$-1.10B	$-89M	$-29M	$-85M	$-113M	$-78M	$-91M	$-109M	$-91M	$-106M	$24M	$-101M	$-399M	$-927M	$-53M	$28M
Income Tax	$0	$0	$0	$0	$0	$0	$1M	$0	$0	$0	$1M	$0	$0	$1M	$1M	$0
Net Income	$-1.10B	$-90M	$-29M	$-85M	$-113M	$-78M	$-92M	$-109M	$-91M	$-106M	$23M	$-101M	$-399M	$-928M	$-54M	$28M
EPS (Basic)	$-1.42	$-0.12	$-0.04	$-0.12	$-0.16	$-0.11	$-0.13	$-0.16	$-0.14	$-0.16	$0.04	$-0.16	$-0.65	$-1.47	$-0.09	$0.05
EPS (Diluted)	$-1.42	$-0.12	$-0.04	$-0.12	$-0.16	$-0.11	$-0.13	$-0.16	$-0.13	$-0.16	$0.03	$-0.16	$-0.64	$-1.47	$-0.09	$0.04
Shares (Basic)	·	741,939,000	729,484,000	723,542,000	·	705,359,000	693,445,000	682,457,000	·	662,149,000	646,062,000	641,916,000	·	629,535,000	624,958,000	619,137,000
Shares (Diluted)	·	741,939,000	729,484,000	723,542,000	·	705,359,000	693,445,000	682,457,000	·	662,149,000	667,159,000	641,916,000	·	629,535,000	624,958,000	640,785,000
EBITDA	·	$-60M	$-5M	$-48M	·	$-60M	$-63M	$-78M	·	$-71M	$-59M	$-114M	·	$-800M	$41M	$127M

Stato Patrimoniale 24

Metrica	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	Q2 2022	Q1 2022
Cash & Equivalents	$962M	$962M	$789M	$559M	$671M	$829M	$790M	$953M	$999M	$1.15B	$1.12B	$1.14B	$1.14B	$1.33B	$2.24B	$2.31B
Short-term Investments	$0	$0	$0	$0	$8M	$8M	$19M	$37M	·	$72M	$90M	$108M	·	$178M	$233M	$464M
Other Current Assets	$69M	$73M	$72M	$77M	$61M	$41M	$61M	$65M	·	$47M	$37M	$46M	·	$80M	$162M	$126M
Current Assets	$2.30B	$2.59B	$2.80B	$3.15B	$3.00B	$3.26B	$3.25B	$3.28B	·	$3.82B	$4.09B	$4.97B	·	$9.58B	$9.95B	$8.08B
PP&E (Net)	$27M	$31M	$37M	$44M	$48M	$59M	$71M	$66M	·	$68M	$62M	$59M	·	$62M	$54M	$49M
PP&E (Gross)	$117M	$118M	$120M	$125M	$123M	$138M	$151M	$145M	·	$159M	$146M	$159M	·	$145M	$129M	$115M
Accum. Depreciation	$90M	$87M	$83M	$81M	$75M	$79M	$80M	$79M	·	$91M	$84M	$100M	·	$83M	$75M	$66M
Goodwill	$3M	$3M	$3M	$3M	$3M	$3M	$4M	$4M	·	$4M	$4M	$4M	·	$62M	$60M	$60M
Intangibles	$0	$0	$0	$0	$0	$0	$2M	$4M	·	$7M	$9M	$11M	·	$7M	$7M	$10M
Other Non-current Assets	$70M	$70M	$61M	$61M	$60M	$61M	$23M	$23M	·	$22M	$27M	$27M	·	$26M	$27M	$29M
Total Assets	$2.41B	$2.70B	$2.91B	$3.28B	$3.13B	$3.41B	$3.37B	$3.40B	·	$3.95B	$4.22B	$5.11B	·	$9.78B	$10.14B	$8.27B
Accounts Payable	$80M	·	·	·	$92M	·	·	·	·	·	·	·	·	·	·	·
Accrued Liabilities	$20M	·	·	·	$30M	·	·	·	·	·	·	·	·	·	·	·
Current Liabilities	$327M	$914M	$643M	$1.05B	$529M	$721M	$393M	$74M	·	$74M	$88M	$443M	·	$3.60B	$3.61B	$2.81B
Capital Leases	$6M	$7M	$6M	$13M	$13M	$19M	$18M	$18M	·	$20M	$21M	$35M	·	$39M	$42M	$43M
Other Non-current Liabilities	$1M	$2M	$1M	$1M	$1M	$2M	$0	$1M	·	$1M	·	·	·	·	·	·
Total Liabilities	$1.40B	$1.89B	$2.28B	$2.63B	$2.41B	$2.61B	$2.53B	$2.50B	·	$2.93B	$3.14B	$4.08B	·	$8.30B	$7.78B	$5.92B
Common Stock	$0	$0	$0	$0	$0	$0	$0	$0	·	$0	$0	$0	·	$0	$0	$0
Paid-in Capital	$6.04B	$4.74B	$4.47B	$4.46B	$4.44B	$4.41B	$4.38B	$4.34B	·	$4.26B	$4.22B	$4.20B	·	$4.15B	$4.09B	$4.03B
Retained Earnings	$-5.03B	$-3.93B	$-3.84B	$-3.81B	$-3.73B	$-3.61B	$-3.53B	$-3.44B	·	$-3.24B	$-3.14B	$-3.16B	·	$-2.66B	$-1.73B	$-1.68B
AOCI	$0	$0	$0	$0	$0	$0	$0	$0	·	$-1M	$-2M	$-3M	·	$-5M	$-5M	$-4M
Stockholders' Equity	$1.00B	$811M	$631M	$645M	$713M	$801M	$845M	$899M	$967M	$1.02B	$1.09B	$1.04B	$1.09B	$1.49B	$2.36B	$2.35B
Liabilities + Equity	$2.41B	$2.70B	$2.91B	$3.28B	$3.13B	$3.41B	$3.37B	$3.40B	·	$3.95B	$4.22B	$5.11B	·	$9.78B	$10.14B	$8.27B
Shares Outstanding	957,245,487	771,534,057	733,592,980	726,835,454	719,990,121	711,660,871	698,843,166	688,560,794	677,636,163	668,592,580	657,337,566	647,607,920	637,387,025	632,513,135	627,033,133	622,918,512

Flusso di cassa 14

Metrica	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	Q2 2022	Q1 2022
D&A	$7M	$8M	$8M	$8M	$8M	$7M	$9M	$9M	$11M	$8M	$9M	$10M	$9M	$10M	$9M	$9M
Stock-based Comp	$105M	$27M	$13M	$14M	$23M	$25M	$33M	$33M	$32M	$31M	$21M	$42M	$-7M	$52M	$59M	$67M
Amort. of Intangibles	·	·	·	·	$0	$1M	$1M	$2M	$2M	$2M	$1M	$2M	$2M	$2M	$3M	$2M
Restructuring	$0	$1M	$6M	$3M	$17M	$0	$0	$0	$4M	$0	$10M	·	$17M	$0	$0	·
Other Non-cash	·	·	·	$-216M	·	·	·	$-111M	·	·	·	$2.21B	·	·	·	$1.45B
Operating Cash Flow	$70M	$435M	$823M	$-279M	$-80M	$62M	$-399M	$-178M	$-542M	$-216M	$940M	$2.16B	$1.40B	$-322M	$-1.89B	$1.55B
CapEx	$3M	$3M	$2M	$4M	$3M	$6M	$8M	$8M	$9M	$11M	$9M	$8M	$4M	$13M	$10M	$10M
Investing Cash Flow	$-3M	$-9M	$-2M	$2M	$-3M	$0	$9M	$22M	$-4M	$3M	$15M	$30M	$24M	$27M	$221M	$-38M
Stock Issued	$0	·	·	·	$0	·	·	·	·	·	·	·	·	$0	$0	$0
Net Stock Activity	·	·	·	·	·	·	·	·	·	·	·	·	·	·	·	$0
Financing Cash Flow	$-218M	$-159M	$-329M	$207M	$-208M	$81M	$15M	$-98M	$-292M	$-213M	$-809M	$-1.32B	$-2.71B	$520M	$1.77B	$-1.33B
Net Change in Cash	$-151M	$267M	$492M	$-70M	$-291M	$143M	$-375M	$-254M	$-838M	$-426M	$146M	$867M	$-1.29B	$225M	$98M	$178M
Free Cash Flow	·	·	·	$-283M	·	·	·	$-186M	·	·	·	$2.15B	·	·	·	$1.54B
Levered FCF	·	·	·	·	·	·	·	$-223M	·	·	·	$2.08B	·	·	·	$1.47B

Redditività 8

Metrica	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	Q2 2022	Q1 2022
Gross Margin	·	7.2%	8.2%	8.6%	·	7.6%	8.5%	9.7%	·	9.8%	7.5%	5.5%	·	-12.7%	11.6%	10.4%
Operating Margin	·	-7.4%	-0.83%	-4.9%	·	-4.9%	-4.8%	-7.4%	·	-8.1%	-3.4%	-4.0%	·	-24.1%	0.76%	2.3%
Net Margin	·	-9.8%	-1.8%	-7.4%	·	-5.7%	-6.1%	-9.2%	·	-10.8%	1.2%	-3.2%	·	-27.6%	-1.3%	0.54%
Pretax Margin	·	-9.7%	-1.8%	-7.4%	·	-5.7%	-6.0%	-9.2%	·	-10.8%	1.2%	-3.2%	·	-27.6%	-1.3%	0.54%
EBITDA Margin	·	-6.6%	-0.32%	-4.2%	·	-4.4%	-4.2%	-6.6%	·	-7.2%	-3.0%	-3.6%	·	-23.8%	0.98%	2.5%
ROA	·	-2.9%	-0.92%	-2.5%	·	-2.1%	-2.4%	-2.6%	·	-1.5%	0.32%	-1.5%	·	-9.9%	-0.72%	0.49%
ROE	·	-11.2%	-3.9%	-11.0%	·	-8.6%	-9.5%	-11.3%	·	-8.5%	1.3%	-6.0%	·	-48.2%	-2.3%	1.2%
ROIC	·	-8.4%	-2.1%	-8.7%	·	-8.4%	-8.6%	-9.7%	·	-7.8%	-6.0%	-12.0%	·	-54.5%	1.4%	5.0%

Liquidità e Solvibilità 3

Metrica	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	Q2 2022	Q1 2022
Current Ratio	·	2.8	4.3	3.0	·	4.5	8.3	44.4	·	51.6	46.5	11.2	·	2.7	2.8	2.9
Quick Ratio	·	1.1	1.2	0.5	·	1.2	2.1	13.4	·	16.6	13.8	2.8	·	0.4	0.7	1.0
Interest Coverage	·	·	·	·	·	·	·	-2.4	·	-1.7	-1.3	-1.7	·	-7.0	0.4	1.7

Efficienza 1

Metrica	Tendenza	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	Q2 2022	Q1 2022
Asset Turnover		·	0.3	0.5	0.3	·	0.4	0.4	0.3	·	0.1	0.3	0.5	·	0.4	0.6	0.9

Per Azione 5

Metrica	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	Q2 2022	Q1 2022
Book Value / Share	·	$1.05	$0.86	$0.89	·	$1.13	$1.21	$1.31	·	$1.53	$1.65	$1.60	·	$2.35	$3.76	$3.77
Revenue / Share	·	$1.23	$2.15	$1.59	·	$1.95	$2.18	$1.73	·	$1.48	$2.96	$4.86	·	$5.34	$6.72	$8.04
Cash Flow / Share	·	·	·	$-0.39	·	·	·	$-0.26	·	·	·	$3.37	·	·	·	$2.42
Cash / Share	·	$1.25	$1.08	$0.77	·	$1.16	$1.13	$1.38	·	$1.73	$1.70	$1.76	·	$2.10	$3.57	$3.71
EPS (TTM)	·	$-0.44	·	·	·	$-0.53	$-0.58	$-0.42	·	$-0.93	$-2.24	$-2.36	·	$-1.83	$-0.45	$-0.60

Valutazione (TTM) 2

Metrica	Tendenza	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	Q2 2022	Q1 2022
Revenue TTM		·	$4.72B	·	·	·	$4.94B	$4.54B	$5.01B	·	$8.93B	$11.31B	$13.54B	·	$16.53B	$15.44B	$12.43B
Net Income TTM		·	$-317M	·	·	·	$-370M	$-398M	$-283M	·	$-583M	$-1.41B	$-1.48B	·	$-1.15B	$-274M	$-364M

Periodo più recente a sinistra · valori nulli mostrati come ·

Bilanci Conto economico, stato patrimoniale, flusso di cassa — annuale, ultimi 5 anni

Metrica	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31
Ricavi	$4.37B	$5.15B	$6.95B	$15.57B	$8.02B
Margine Lordo %	8.0%	8.4%	7.0%	4.3%	9.1%
Margine Operativo %	-6.6%	-6.2%	-5.6%	-6.0%	-7.1%
Utile netto	$-1.30B	$-392M	$-275M	$-1.35B	$-662M
EPS Diluito	$-1.70	$-0.56	$-0.42	$-2.16	$-1.12

Metrica	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31
Rapporto corrente	7.0	5.7	49.2	4.3	2.1
Quick Ratio	2.9	1.3	15.3	0.9	0.5

Metrica	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31
Flusso di cassa libero	$1.04B	$-620M	$2.31B	$693M	$-5.83B

Proprietari istituzionali (13F) 133 filer · $2.0M totale · Aggiornato al 30 Giugno 2026

Istituzioni che segnalano il possesso di questo titolo nel loro Modulo SEC 13F trimestrale. Solo posizioni lunghe; un singolo depositante può apparire due volte per diverse gambe di opzioni. Grandi posizioni put/call contrapposte riflettono tipicamente market-making o inventario coperto, non convinzione direzionale.

Detentori 133

Valore detenuto $2.0M

Nuove posizioni 15

Posizioni chiuse 21

Attività istituzionale — Q2 2026 vs trimestre precedente

Nuove posizioni	Posizioni chiuse	Aumentato	Diminuito	Variazione netta delle azioni
15 (-1 vs trimestre precedente)	21 (-4 vs trimestre precedente)	21 (0 vs trimestre precedente)	28 (-13 vs trimestre precedente)	-1.3M

Confrontato con Q1 2026. Le dichiarazioni SEC Form 13F sono dovute entro 45 giorni dalla fine del trimestre più un breve margine per i dichiaranti in ritardo — i trimestri ancora all'interno di questa finestra vengono saltati a favore della coppia più recente completamente riportata.

Istituzione	Valore	Azioni	% di 13F tracciati	Tipo
Caption Management, LLC	$629.342	2.225.397	31,55%	Azioni
MORGAN STANLEY	$250.657	886.344	12,57%	Azioni
LENNAR CORP /NEW/	$177.089	626.198	8,88%	Azioni
ARISTEIA CAPITAL, L.L.C.	$166.389	588.466	8,34%	Azioni
IMC-Chicago, LLC	$147.724	31.975	7,41%	Azioni
JANE STREET GROUP, LLC	$140.483	496.757	7,04%	Azioni
MILLENNIUM MANAGEMENT LLC	$80.424	284.386	4,03%	Opzione Call
DeepCurrents Investment Group LLC	$57.223	12.386	2,87%	Opzione Call
STATE STREET CORP	$40.019	141.510	2,01%	Azioni
GEODE CAPITAL MANAGEMENT, LLC	$28.315	100.175	1,42%	Azioni
Graham Capital Management, L.P.	$26.253	92.833	1,32%	Azioni
LMR Partners LLP	$19.796	70.000	0,99%	Azioni
KESTRA PRIVATE WEALTH SERVICES, LLC	$18.739	66.262	0,94%	Azioni
Point72 Asset Management, L.P.	$18.121	64.077	0,91%	Azioni
Skaana Management L.P.	$17.977	63.567	0,90%	Azioni
AQR CAPITAL MANAGEMENT LLC	$17.282	61.112	0,87%	Azioni
TUDOR INVESTMENT CORP ET AL	$16.439	58.128	0,82%	Opzione Call
IEQ CAPITAL, LLC	$12.567	44.438	0,63%	Azioni
D. E. Shaw & Co., Inc.	$11.114	39.300	0,56%	Opzione Call
CITADEL ADVISORS LLC	$9.078	32.100	0,46%	Azioni
JPMORGAN CHASE & CO	$8.576	26.157	0,43%	Azioni
LPL Financial LLC	$7.126	25.203	0,36%	Azioni
TWO SIGMA SECURITIES, LLC	$6.724	23.777	0,34%	Azioni
Susquehanna Portfolio Strategies, LLC	$6.717	23.751	0,34%	Azioni
Squarepoint Ops LLC	$6.384	22.575	0,32%	Azioni
SUSQUEHANNA INTERNATIONAL GROUP, LLP	$5.945	21.022	0,30%	Azioni
Balyasny Asset Management L.P.	$5.921	20.938	0,30%	Azioni
Amundi	$5.308	18.770	0,27%	Azioni
GROUP ONE TRADING LLC	$4.915	17.381	0,25%	Azioni
SIGNATUREFD, LLC	$4.852	17.158	0,24%	Azioni
Kultura Capital Management LP	$4.619	16.333	0,23%	Azioni
UBS Group AG	$4.271	15.090	0,21%	Azioni
NWAM LLC	$4.152	14.683	0,21%	Azioni
Prentice Capital Management, LP	$3.668	12.970	0,18%	Azioni
JANUS HENDERSON GROUP PLC	$3.282	13.235	0,16%	Azioni
Universal- Beteiligungs- und Servicegesellschaft mbH	$3.235	11.440	0,16%	Azioni
CAPSTONE INVESTMENT ADVISORS, LLC	$2.951	10.435	0,15%	Azioni
Legal & General Group Plc	$1.937	6.849	0,10%	Azioni
KLP KAPITALFORVALTNING AS	$1.781	6.296	0,09%	Azioni
INTACT INVESTMENT MANAGEMENT INC.	$1.644	5.814	0,08%	Azioni
Qube Research & Technologies Ltd	$1.506	5.327	0,08%	Azioni
AlphaCore Capital LLC	$1.395	4.932	0,07%	Azioni
Wilmington Savings Fund Society, FSB	$1.315	4.649	0,07%	Azioni
Zurcher Kantonalbank (Zurich Cantonalbank)	$1.243	4.394	0,06%	Azioni
BlackRock, Inc.	$1.238	4.376	0,06%	Azioni
BANK OF MONTREAL /CAN/	$1.040	3.680	0,05%	Azioni
ROYAL BANK OF CANADA	$1.000	2.090	0,05%	Azioni
OSAIC HOLDINGS, INC.	$622	2.351	0,03%	Azioni
Activest Wealth Management	$521	1.843	0,03%	Azioni
Marathon Trading Investment Management LLC	$501	1.773	0,03%	Azioni

Mostra tutti i 133 proprietari istituzionali →

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Fonte: SEC 10-K depositato Feb 19, 2026