The checklist Warren Buffett-style investors use. Annual numbers for 2025.
2/7Weak
MissReturn on equity 15%+Earns a lot on the money owners have in the business.-28.6%
MissDebt under half of equityNot relying on borrowed money.0.73x equity
MissNet margin 10%+Keeps at least 10 cents of profit from each dollar of sales.-18.2%
MissProfitable every yearSteady profits, not one good year.0 of 7 years
PassFree cash flow positiveBrings in more cash than it spends to run and grow.$74.3M
MissShare count not growingNot diluting owners. Falling means buybacks.+7.2% in 3 years
PassGross margin 40%+Pricing power: sells for well above what it costs to make.49.8%
Revenue
$1.3B
-5.0% vs prior year
5-year growth
+15.1%/yr
revenue, per year
Total debt
$548.7M
0.73x equity
Current ratio
1.52x
short-term assets / bills due
From annual reports filed with the SEC. A checklist is a starting point for research, not a verdict.
Latest quarter
Quarter ended Jun 30, 2026
Reported Aug 6
Revenue
$340.1M
+9.5% YoY
EPS
$0.05
vs -$0.26
Op. margin
1.2%
-0.8 pts
Gross margin
50.0%
+0.7 pts
Share count
+7.2%
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
2.8
vs normal
0.0x
SEC filings of any kind. 50 means a normal week.
Institutional ownership
■Newly held
Institutions held almost none of it the quarter before (new listing, spin-off or ticker change), so there's no fair percent change yet. 3 bought, 7 sold. 2 quarters of net buying in a row.
Shares held by institutions12.5M
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
0.7x · $611.5M debt
Shares outstandingLatest reported
624M
Why low risk
Losing money
Earnings reports
Last 1
Next reportNot enough history
Results filedAug 6
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.