A company still losing money with growing sales. Institutions are adding.
Going well
Sales up 48% in the latest quarter vs a year ago
Sales up 41% last year
No debt reported
Watch out for
Losing money, losses are large next to sales
Money moves
Insiders sold $939K in the last 30 days, all through pre-planned sales
Institutions added 12% to their holdings in the quarter ending June 2026 (251 bought, 129 sold)
Held by Cathie Wood (ARK Invest)
Facts from SEC filings, not a recommendation.
What the price means
Price as of Oct 26
$23.50-4.6% that day
Company value
$12.4B
Share price times all shares
Price vs sales
9.7x
No profit over the last year, so this compares value with sales instead
Cash vs value
4%
Cash as a share of company value
From FIG'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 9 quarters, from SEC filings
Sales, Jun '26
$370.1M+48% vs a year earlier
Jun '24Tap a barJun '26
Last 12 months: $1.3B, up 43% from the 12 months before.
What the price assumes
Your guesses, our math
Move the sliders to your own view of FIG. 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$4.8B
Profit in 5 years$476M
Price these guesses point to$13.53-42% vs $23.50 todayAbout -10% a year, before dividends
What today's price needs: with a 10% margin and a 15x P/E, sales would have to grow about 45% 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.
3/5Mixed
MissReturn on equity 15%+Earns a lot on the money owners have in the business.-88.2%
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.-118.4%
PassFree cash flow positiveBrings in more cash than it spends to run and grow.$246.2M
PassGross margin 40%+Pricing power: sells for well above what it costs to make.82.4%
Revenue
$1.1B
+41.0% vs prior year
Total debt
None
0.00x equity
Current ratio
2.58x
short-term assets / bills due
Free cash flow
$246.2M
23.3% of revenue
From annual reports filed with the SEC. Not in this company's SEC data, so not scored: profitable every year, share count not growing. A checklist is a starting point for research, not a verdict.
Latest quarter
Quarter ended Jun 30, 2026
Reported Aug 5
Revenue
$370.1M
+48.2% YoY
EPS
-$0.21
vs $0.00
Op. margin
-31.7%
-32.5 pts
Gross margin
83.7%
-5.1 pts
Free cash flow
$54.2M
Share count
+127.6%
vs a year ago
Insider rating
Last 90 days
45Mixed
Pre-planned sales of $939K (weaker signal)
50 is neutral. Buying by more insiders, top executives and bigger stakes raises it. Selling lowers it; pre-planned sales count less.
Weekly insider trend
13 weeks agoBoughtSoldThis week
Filing buzz
Last 7 days vs normal
0/ 100
This week
0
Normal week
4.7
vs normal
0.0x
SEC filings of any kind. 50 means a normal week.
Institutional ownership
▲Accumulating+12.2%
Institutions added 12.2% to their holdings. 251 bought, 129 sold. 4 quarters of net buying in a row.
Shares held by institutions367.7M
Sep '24Jun '26
Safety check
From SEC filings
Cash runwayAt last year's cash burn
Cash flow positive
Debt to equityLatest balance sheet: debt compared with what owners have
No debt reported
Shares outstandingLatest reported
527M
Why moderate risk
Losing money, losses are large next to sales
Earnings reports
Last 5
Next reportAround Nov 4 (est.)Estimated from the same quarter last year
Results filedAug 5
Results filedMay 14
Results filedFeb 18
Results filedNov 5, 2025
Results filedSep 3, 2025
Flags and big holders
Offerings 6 months, flags 12 months, holders 90 days