The checklist Warren Buffett-style investors use. Annual numbers for 2025.
1/7Weak
MissReturn on equity 15%+Earns a lot on the money owners have in the business.-115.7%
MissDebt under half of equityNot relying on borrowed money.1.92x equity
MissNet margin 10%+Keeps at least 10 cents of profit from each dollar of sales.-136.9%
MissProfitable every yearSteady profits, not one good year.0 of 5 years
PassFree cash flow positiveBrings in more cash than it spends to run and grow.$250.0M
MissShare count not growingNot diluting owners. Falling means buybacks.+15.0% in 3 years
MissGross margin 40%+Pricing power: sells for well above what it costs to make.33.8%
Revenue
$2.3B
-3.0% vs prior year
5-year growth
-3.7%/yr
revenue, per year
Total debt
$2.0B
1.92x equity
Current ratio
1.31x
short-term assets / bills due
From annual reports filed with the SEC. A checklist is a starting point for research, not a verdict.
Latest quarter
Quarter ended Jun 30, 2026
Reported Aug 4
Revenue
$511.0M
-3.2% YoY
EPS
-$0.38
vs -$40.61
Op. margin
-7.8%
+183.5 pts
Gross margin
27.8%
-5.5 pts
Free cash flow
$48.0M
Share count
-0.3%
vs a year ago
Insider rating
Last 90 days
No open-market insider buys or sells in the last 90 days.
Weekly insider trend
No trades to chart yet.
Filing buzz
Last 7 days vs normal
0/ 100
This week
0
Normal week
1.3
vs normal
0.0x
SEC filings of any kind. 50 means a normal week.
Institutional ownership
■Newly held
Institutions held almost none of it the quarter before (new listing, spin-off or ticker change), so there's no fair percent change yet. 19 bought, 0 sold.
Shares held by institutions2.2M
Sep '24Jun '26
Safety check
From SEC filings
Share count growthYearly rate, last 3 years
+4.8%
Cash runwayAt last year's cash burn
Cash flow positive
Debt to equityLatest balance sheet: debt compared with what owners have
1.9x · $2.0B debt
Shares outstandingLatest reported
447M
Why high risk
Losing money, losses are large next to sales
Debt above equity: 1.95x
Exchange listing notice (a delisting warning or a move to another exchange)
Earnings reports
Last 12
Next reportAround Nov 4 (est.)Estimated from the same quarter last year
Results filedAug 4
Results filedMay 5
Results filedFeb 19
Results filedNov 5, 2025
Results filedAug 5, 2025
Flags and big holders
Offerings 6 months, flags 12 months, holders 90 days