The checklist Warren Buffett-style investors use. Annual numbers for 2025.
2/5Weak
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.-131.4%
MissFree cash flow positiveBrings in more cash than it spends to run and grow.-$9.9M
MissShare count not growingNot diluting owners. Falling means buybacks.+98.9% in 3 years
PassGross margin 40%+Pricing power: sells for well above what it costs to make.55.1%
Revenue
$26.1M
-27.9% vs prior year
Total debt
None
0.00x equity
Free cash flow
-$9.9M
-37.9% of revenue
From annual reports filed with the SEC. Not in this company's SEC data, so not scored: return on equity 15%+, profitable every year. A checklist is a starting point for research, not a verdict.
Latest quarter
Quarter ended Dec 31, 2025
Revenue
$5.2M
-49.2% YoY
EPS
-$0.38
vs $0.00
Op. margin
-294.6%
-283.3 pts
Gross margin
58.4%
+4.0 pts
Free cash flow
-$2.4M
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
0/ 100
This week
0
Normal week
0.3
vs normal
0.0x
SEC filings of any kind. 50 means a normal week.
Institutional ownership
■Steady
The share count changed with a stock split this quarter, so the change in holdings isn't comparable until next quarter.
Shares held by institutions1.9M
Sep '24Jun '26
Safety check
From SEC filings
Share count growthYearly rate, last 3 years
+25.8%
Cash runwayAt last year's cash burn
9 months
Debt to equityLatest balance sheet: debt compared with what owners have
No debt reported
Shares outstandingLatest reported
35M
Why elevated risk
Losing money, losses are large next to sales
About 9 months of cash left at its current burn
Revenue down 27.9% from the year before
Earnings reports
Last 0
Next reportNot enough history
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.