Institutions cut 5.1% from their holdings in the quarter ending June 2026 (12 bought, 22 sold)
Facts from SEC filings, not a recommendation.
What the price means
Price as of Oct 26
$5.35+0.2% that day
Company value
$220M
Share price times all shares
Price vs profit (P/E)
3.5x
You pay about $4 for each $1 of yearly profit
Price vs sales
7.6x
Company value is 7.6 times a year of sales
Cash vs value
3%
Cash as a share of company value
From BNC's last IEX trade and its SEC filings (profits and sales over the last four quarters). A starting point for research, not a verdict.
The business over time
Last 12 quarters, from SEC filings
Sales, Jul '26
$7.2M
Mar '24Tap a barJul '26
Last 12 months: $29.0M, up 87% from the 12 months before. Over 5 years, sales grew about 25% a year.
What the price assumes
Your guesses, our math
Move the sliders to your own view of BNC. Starting points are the company's recent numbers (it isn't profitable yet, so the margin starts at a 10% guess).
Sales in 5 years$108M
Profit in 5 years$11M
Price these guesses point to$2.09-61% vs $5.35 todayAbout -17% a year, before dividends
What today's price needs: with a 10% margin and a 8x P/E, sales would have to grow about 57% a year for 5 years just to match today's price.
Simple math on your guesses, not a forecast or a price target. Real results depend on many things these sliders leave out.
The checklist Warren Buffett-style investors use. Annual numbers for 2025.
1/5Weak
MissReturn on equity 15%+Earns a lot on the money owners have in the business.0.1%
PassDebt under half of equityNot relying on borrowed money.No debt reported
MissNet margin 10%+Keeps at least 10 cents of profit from each dollar of sales.0.4%
MissProfitable every yearSteady profits, not one good year.1 of 10 years
MissFree cash flow positiveBrings in more cash than it spends to run and grow.-$26.6M
Revenue
$26.4M
5-year growth
+25.4%/yr
revenue, per year
Total debt
None
0.00x equity
Free cash flow
-$26.6M
-100.8% of revenue
From annual reports filed with the SEC. Gross margin doesn't apply to banks and insurers, so it isn't scored. Not in this company's SEC data, so not scored: share count not growing. A checklist is a starting point for research, not a verdict.
Latest quarter
Quarter ended Jul 31, 2026
Reported Sep 11
Revenue
$7.2M
EPS
-$0.22
Op. margin
-296.3%
Gross margin
27.4%
Free cash flow
-$6.6M
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
66/ 100
This week
2
Normal week
1.0
vs normal
2.0x
SEC filings of any kind. 50 means a normal week.
Institutional ownership
▼Distributing-5.1%
Institutions cut 5.1% from their holdings. 12 bought, 22 sold.
Shares held by institutions8.4M
Sep '24Jun '26
Safety check
From SEC filings
Share count growthYearly rate, last 3 years
+261.3%
Cash runwayAt last year's cash burn
28 months
Debt to equityLatest balance sheet: debt compared with what owners have
No debt reported
Shares outstandingLatest reported
41M
Why high risk
Losing money, losses are large next to sales
Share count growing 261.3% a year (dilution)
Bills due within a year exceed short-term assets
Revenue down 59.4% from the year before
Past financials no longer reliable
Exchange listing notice (a delisting warning or a move to another exchange)
Earnings reports
Last 9
Next reportAround Dec 15 (est.)Estimated from the same quarter last year
Results filedSep 11
Results filedJun 23
Results filedMar 16
Results filedDec 16, 2025
Results filedSep 23, 2025
Flags and big holders
Offerings 6 months, flags 12 months, holders 90 days