The checklist Warren Buffett-style investors use. Annual numbers for 2025.
5/6Strong
MissDebt under half of equityNot relying on borrowed money.40.54x equity
PassNet margin 10%+Keeps at least 10 cents of profit from each dollar of sales.24.2%
PassProfitable every yearSteady profits, not one good year.7 of 7 years
PassFree cash flow positiveBrings in more cash than it spends to run and grow.$105.9M
PassShare count not growingNot diluting owners. Falling means buybacks.-2.5% in 3 years
PassGross margin 40%+Pricing power: sells for well above what it costs to make.79.8%
Revenue
$349.7M
-0.2% vs prior year
5-year growth
+1.1%/yr
revenue, per year
Total debt
$558.4M
40.54x equity
Current ratio
1.79x
short-term assets / bills due
From annual reports filed with the SEC. Not in this company's SEC data, so not scored: return on equity 15%+. A checklist is a starting point for research, not a verdict.
Latest quarter
Quarter ended Jun 30, 2026
Reported Aug 6
Revenue
$91.4M
+4.1% YoY
EPS
$1.43
vs $1.07
Op. margin
40.3%
-4.2 pts
Gross margin
80.0%
+0.1 pts
Free cash flow
$25.5M
Share count
-1.6%
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
0.5
vs normal
0.0x
SEC filings of any kind. 50 means a normal week.
Institutional ownership
▼Distributing-3.2%
Institutions cut 3.2% from their holdings. 67 bought, 81 sold.
Shares held by institutions18.2M
Sep '24Jun '26
Safety check
From SEC filings
Share count growthYearly rate, last 3 years
-2.3%
Cash runwayAt last year's cash burn
Cash flow positive
Debt to equityLatest balance sheet: debt compared with what owners have
13.4x · $555.3M debt
Shares outstandingLatest reported
18M
Why low risk
High debt: 13.36x equity
Earnings reports
Last 12
Next reportIn 7 days (est.)Estimated from the same quarter last year
Results filedAug 6
Results filedMay 7
Results filedFeb 10
Results filedNov 5, 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.
Insider trades
Open-market buys and sells, last 90 days
No open-market buys or sells in 90 days. Grants and option exercises are left out.
"Owns after" is the insider's holding right after the trade. Pre-planned (10b5-1) sales are set up months ahead, a weaker signal.