The checklist Warren Buffett-style investors use. Annual numbers for 2025.
2/6Weak
MissReturn on equity 15%+Earns a lot on the money owners have in the business.-4.3%
PassDebt under half of equityNot relying on borrowed money.0.01x equity
MissNet margin 10%+Keeps at least 10 cents of profit from each dollar of sales.-3.7%
MissProfitable every yearSteady profits, not one good year.6 of 10 years
MissFree cash flow positiveBrings in more cash than it spends to run and grow.-$15.5M
PassShare count not growingNot diluting owners. Falling means buybacks.-1.6% in 3 years
Revenue
$285.1M
-12.3% vs prior year
5-year growth
-1.4%/yr
revenue, per year
Total debt
$2.4M
0.01x equity
Free cash flow
-$15.5M
-5.4% of revenue
From annual reports filed with the SEC. Gross margin doesn't apply to banks and insurers, so it isn't scored. A checklist is a starting point for research, not a verdict.
Latest quarter
Quarter ended Jun 30, 2026
Reported Aug 7
Revenue
$70.2M
-7.7% YoY
EPS
$0.01
vs -$0.57
Gross margin
23.6%
+15.2 pts
Free cash flow
$893K
Share count
-0.8%
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
0/ 100
This week
0
Normal week
0.2
vs normal
0.0x
SEC filings of any kind. 50 means a normal week.
Institutional ownership
▲Accumulating+2.1%
Institutions added 2.1% to their holdings. 42 bought, 25 sold.
Shares held by institutions5.2M
Sep '24Jun '26
Safety check
From SEC filings
Share count growthYearly rate, last 3 years
-0.7%
Cash runwayAt last year's cash burn
41 months
Debt to equityLatest balance sheet: debt compared with what owners have
0.0x · $2.4M debt
Shares outstandingLatest reported
20M
Why moderate risk
Losing money
Revenue down 12.3% from the year before
Earnings reports
Last 12
Next reportAround Nov 6 (est.)Estimated from the same quarter last year
Results filedAug 7
Results filedMay 8
Results filedMar 6
Results filedNov 7, 2025
Results filedAug 8, 2025
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.