The checklist Warren Buffett-style investors use. Annual numbers for 2025.
2/4Mixed
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.16.5%
MissProfitable every yearSteady profits, not one good year.9 of 10 years
PassFree cash flow positiveBrings in more cash than it spends to run and grow.$254.8M
Revenue
$1.3B
+12.1% vs prior year
5-year growth
+26.6%/yr
revenue, per year
Total debt
$2.5B
Current ratio
2.11x
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%+, share count not growing, gross margin 40%+. A checklist is a starting point for research, not a verdict.
Latest quarter
Quarter ended Jun 30, 2026
Reported Aug 6
Revenue
$365.2M
+7.1% YoY
Op. margin
33.9%
+3.9 pts
Gross margin
82.3%
-0.3 pts
Free cash flow
$4.0M
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
0.9
vs normal
0.0x
SEC filings of any kind. 50 means a normal week.
Institutional ownership
▼Distributing-2.7%
Institutions cut 2.7% from their holdings. 232 bought, 245 sold. 3 quarters of net selling in a row.
Shares held by institutions87.2M
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
100
Earnings reports
Last 12
Next reportAround Nov 5 (est.)Estimated from the same quarter last year
Results filedAug 6
Results filedMay 7
Results filedFeb 24
Results filedNov 6, 2025
Results filedAug 6, 2025
Flags and big holders
Offerings 6 months, flags 12 months, holders 90 days