The checklist Warren Buffett-style investors use. Annual numbers for 2025.
2/5Weak
MissReturn on equity 15%+Earns a lot on the money owners have in the business.3.4%
MissDebt under half of equityNot relying on borrowed money.1.50x equity
PassNet margin 10%+Keeps at least 10 cents of profit from each dollar of sales.16.7%
MissProfitable every yearSteady profits, not one good year.4 of 10 years
PassShare count not growingNot diluting owners. Falling means buybacks.+0.9% in 3 years
Revenue
$393.5M
+51.1% vs prior year
5-year growth
+8.5%/yr
revenue, per year
Total debt
$2.8B
1.50x equity
Current ratio
2.55x
short-term assets / bills due
From annual reports filed with the SEC. Not in this company's SEC data, so not scored: free cash flow positive, gross margin 40%+. A checklist is a starting point for research, not a verdict.
Latest quarter
Quarter ended Dec 31, 2025
Revenue
$132.8M
+101.5% YoY
Op. margin
36.1%
+23.5 pts
Share count
-3.1%
vs a year ago
Some values are worked out from year-to-date totals in the annual report.
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
52/ 100
This week
1
Normal week
0.9
vs normal
1.1x
SEC filings of any kind. 50 means a normal week.
Institutional ownership
■Steady0.0%
Institutions added 0.0% to their holdings. 154 bought, 167 sold. 4 quarters of net selling in a row.
Shares held by institutions84.5M
Sep '24Jun '26
Safety check
From SEC filings
Share count growthYearly rate, last 3 years
-1.9%
Cash runwayAt last year's cash burn
Cash flow positive
Debt to equityLatest balance sheet: debt compared with what owners have
1.4x · $2.7B debt
Shares outstandingLatest reported
101M
Earnings reports
Last 0
Next reportNot enough history
Flags and big holders
Offerings 6 months, flags 12 months, holders 90 days