The checklist Warren Buffett-style investors use. Annual numbers for 2025.
1/6Weak
MissDebt under half of equityNot relying on borrowed money.2.23x equity
MissNet margin 10%+Keeps at least 10 cents of profit from each dollar of sales.-17.1%
MissProfitable every yearSteady profits, not one good year.0 of 8 years
PassFree cash flow positiveBrings in more cash than it spends to run and grow.$427.9M
MissShare count not growingNot diluting owners. Falling means buybacks.+38.8% in 3 years
MissGross margin 40%+Pricing power: sells for well above what it costs to make.13.6%
Revenue
$12.5B
+38.9% vs prior year
5-year growth
+38.1%/yr
revenue, per year
Total debt
$1.3B
2.23x equity
Current ratio
0.98x
short-term assets / bills due
From annual reports filed with the SEC. Not in this company's SEC data, so not scored: return on equity 15%+. A checklist is a starting point for research, not a verdict.
Latest quarter
Quarter ended Dec 31, 2021
Revenue
$1.6B
+48.7% YoY
EPS
-$0.22
vs -$0.18
Op. margin
-24.2%
-8.9 pts
Gross margin
17.2%
+0.5 pts
Free cash flow
-$11.9M
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
1.0
vs normal
0.0x
SEC filings of any kind. 50 means a normal week.
Institutional ownership
■Steady-1.0%
Institutions cut 1.0% from their holdings. 154 bought, 197 sold. 3 quarters of net selling in a row.
Shares held by institutions277.3M
Sep '24Jun '26
Safety check
From SEC filings
Share count growthYearly rate, last 3 years
+14.2%
Cash runwayAt last year's cash burn
Cash flow positive
Debt to equityLatest balance sheet: debt compared with what owners have
2.2x · $1.3B debt
Shares outstandingLatest reported
2.5B
Why elevated risk
Losing money
Share count growing 14.2% a year (dilution)
High debt: 2.23x equity
Bills due within a year exceed short-term assets
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.