The checklist Warren Buffett-style investors use. Annual numbers for 2025.
2/3Mixed
MissDebt under half of equityNot relying on borrowed money.Owes more than it owns
PassNet margin 10%+Keeps at least 10 cents of profit from each dollar of sales.18.4%
PassFree cash flow positiveBrings in more cash than it spends to run and grow.$34.7M
Revenue
$387.6M
+52.0% vs prior year
Total debt
None
Free cash flow
$34.7M
9.0% of revenue
From annual reports filed with the SEC. Gross margin doesn't apply to banks and insurers, so it isn't scored. Not in this company's SEC data, so not scored: return on equity 15%+, 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 3
Revenue
$189.6M
+113.4% YoY
EPS
$0.30
vs $0.31
Op. margin
9.6%
-11.6 pts
Gross margin
97.9%
-0.5 pts
Free cash flow
$35.3M
Share count
+11.7%
vs a year ago
Insider rating
Last 90 days
43Mixed
Pre-planned sales of $9.1M (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
4.5
vs normal
0.0x
SEC filings of any kind. 50 means a normal week.
Institutional ownership
▼Distributing-6.5%
Institutions cut 6.5% from their holdings. 36 bought, 42 sold.
Shares held by institutions17.6M
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
Owes more than it owns
Shares outstandingLatest reported
0
Earnings reports
Last 3
Next reportDue any dayEstimated from the same quarter last year
Results filedAug 3
Results filedMay 6
Results filedFeb 25
Flags and big holders
Offerings 6 months, flags 12 months, holders 90 days