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.0.9%
MissDebt under half of equityNot relying on borrowed money.1.20x equity
MissNet margin 10%+Keeps at least 10 cents of profit from each dollar of sales.4.1%
MissProfitable every yearSteady profits, not one good year.2 of 10 years
PassFree cash flow positiveBrings in more cash than it spends to run and grow.$54.7M
MissShare count not growingNot diluting owners. Falling means buybacks.+34.2% in 3 years
PassGross margin 40%+Pricing power: sells for well above what it costs to make.62.0%
Revenue
$425.2M
+21.9% vs prior year
5-year growth
+27.4%/yr
revenue, per year
Total debt
$2.4B
1.20x equity
Free cash flow
$54.7M
12.9% of revenue
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
Revenue
$129.8M
+28.3% YoY
EPS
-$0.03
vs -$0.09
Gross margin
60.8%
-3.7 pts
Free cash flow
$33.4M
Share count
+19.2%
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
38/ 100
This week
1
Normal week
1.6
vs normal
0.6x
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. 1 bought, 2 sold.
Shares held by institutions173K
Sep '24Jun '26
Safety check
From SEC filings
Share count growthYearly rate, last 3 years
+10.3%
Cash runwayAt last year's cash burn
Cash flow positive
Debt to equityLatest balance sheet: debt compared with what owners have
1.0x · $2.0B debt
Shares outstandingLatest reported
6M
Earnings reports
Last 0
Next reportNot enough history
Flags and big holders
Offerings 6 months, flags 12 months, holders 90 days