The checklist Warren Buffett-style investors use. Annual numbers for 2025.
3/5Mixed
MissReturn on equity 15%+Earns a lot on the money owners have in the business.11.9%
PassNet margin 10%+Keeps at least 10 cents of profit from each dollar of sales.29.5%
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.$608.5M
MissShare count not growingNot diluting owners. Falling means buybacks.+1.5% in 3 years
Revenue
$1.1B
+5.3% vs prior year
5-year growth
+10.6%/yr
revenue, per year
Free cash flow
$608.5M
54.2% of revenue
From annual reports filed with the SEC. Not in this company's SEC data, so not scored: debt under half of equity, gross margin 40%+. A checklist is a starting point for research, not a verdict.
Latest quarter
Quarter ended Mar 31, 2026
Reported Sep 14
Revenue
$281.9M
+3.3% YoY
EPS
$0.36
vs $0.39
Gross margin
68.1%
-1.5 pts
Free cash flow
$148.8M
Share count
-0.4%
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+9.8%
Institutions added 9.8% to their holdings. 282 bought, 212 sold.
Shares held by institutions231.0M
Sep '24Jun '26
Safety check
From SEC filings
Share count growthYearly rate, last 3 years
+0.3%
Cash runwayAt last year's cash burn
Cash flow positive
Debt to equityLatest balance sheet: debt compared with what owners have
Total liabilities $3.9B
Shares outstandingLatest reported
226M
Earnings reports
Last 12
Next reportIn 3 days (est.)Estimated from the same quarter last year
Results filedSep 14
Results filedJul 31
Results filedJun 1
Results filedMay 14
Results filedMay 4
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.