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.4.3%
MissDebt under half of equityNot relying on borrowed money.0.53x equity
PassNet margin 10%+Keeps at least 10 cents of profit from each dollar of sales.12.6%
MissProfitable every yearSteady profits, not one good year.8 of 10 years
PassFree cash flow positiveBrings in more cash than it spends to run and grow.$136.0M
PassShare count not growingNot diluting owners. Falling means buybacks.-0.1% in 3 years
Revenue
$416.0M
-14.0% vs prior year
5-year growth
+7.4%/yr
revenue, per year
Total debt
$335.7M
0.53x equity
Free cash flow
$136.0M
32.7% 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
Revenue
$111.0M
-18.3% YoY
EPS
-$0.07
vs $0.06
Free cash flow
-$12.3M
Share count
0.0%
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
▲Accumulating+39.4%
Institutions added 39.4% to their holdings. 4 bought, 3 sold. 4 quarters of net buying in a row.
Shares held by institutions101K
Sep '24Jun '26
Safety check
From SEC filings
Share count growthYearly rate, last 3 years
0.0%
Cash runwayAt last year's cash burn
Cash flow positive
Debt to equityLatest balance sheet: debt compared with what owners have
5.3x · $3.0B debt
Shares outstandingLatest reported
436M
Why moderate risk
High debt: 5.3x equity
Revenue down 14% from the year before
1 offering filing in 6 months (may sell new shares)
Earnings reports
Last 0
Next reportNot enough history
Flags and big holders
Offerings 6 months, flags 12 months, holders 90 days