The checklist Warren Buffett-style investors use. Annual numbers for 2025.
3/6Mixed
MissReturn on equity 15%+Earns a lot on the money owners have in the business.11.7%
MissDebt under half of equityNot relying on borrowed money.1.52x equity
PassNet margin 10%+Keeps at least 10 cents of profit from each dollar of sales.12.9%
PassProfitable every yearSteady profits, not one good year.10 of 10 years
PassFree cash flow positiveBrings in more cash than it spends to run and grow.$99.8M
MissShare count not growingNot diluting owners. Falling means buybacks.+1.1% in 3 years
Revenue
$289.8M
+7.8% vs prior year
5-year growth
+5.2%/yr
revenue, per year
Total debt
$468.4M
1.52x equity
Free cash flow
$99.8M
34.4% of revenue
From annual reports filed with the SEC. Not in this company's SEC data, so not scored: gross margin 40%+. A checklist is a starting point for research, not a verdict.
Latest quarter
Quarter ended Jun 30, 2026
Reported Aug 6
Revenue
$76.8M
+8.4% YoY
EPS
$0.24
vs $0.33
Op. margin
67.7%
-1.0 pts
Free cash flow
$30.8M
Share count
+0.9%
vs a year ago
Insider rating
Last 90 days
58Mixed
1 insider bought $4K
Joel Albert Friedman grew their stake 100%
50 is neutral. Buying by more insiders, top executives and bigger stakes raises it. Selling lowers it; pre-planned sales count less.
Weekly insider trend
13 weeks agoBoughtSoldThis week
Filing buzz
Last 7 days vs normal
0/ 100
This week
0
Normal week
0.3
vs normal
0.0x
SEC filings of any kind. 50 means a normal week.
Institutional ownership
▲Accumulating+3.6%
Institutions added 3.6% to their holdings. 102 bought, 59 sold.
Shares held by institutions11.8M
Sep '24Jun '26
Safety check
From SEC filings
Share count growthYearly rate, last 3 years
+1.1%
Cash runwayAt last year's cash burn
Cash flow positive
Debt to equityLatest balance sheet: debt compared with what owners have
5.4x · $1.6B debt
Shares outstandingLatest reported
25M
Why low risk
High debt: 5.42x equity
Earnings reports
Last 12
Next reportAround Nov 5 (est.)Estimated from the same quarter last year
Results filedAug 6
Results filedMay 7
Results filedFeb 27
Results filedNov 6, 2025
Results filedAug 7, 2025
Flags and big holders
Offerings 6 months, flags 12 months, holders 90 days
No offerings, red flags or new big holders. Clean record.