The checklist Warren Buffett-style investors use. Annual numbers for 2025.
3/5Mixed
MissReturn on equity 15%+Earns a lot on the money owners have in the business.5.2%
PassNet margin 10%+Keeps at least 10 cents of profit from each dollar of sales.52.5%
PassProfitable every yearSteady profits, not one good year.5 of 5 years
PassFree cash flow positiveBrings in more cash than it spends to run and grow.$15.0M
MissShare count not growingNot diluting owners. Falling means buybacks.+4.8% in 3 years
Revenue
$29.4M
-16.7% vs prior year
Free cash flow
$15.0M
51.2% of revenue
From annual reports filed with the SEC. Not in this company's SEC data, so not scored: debt under half of equity, gross margin 40%+. A checklist is a starting point for research, not a verdict.
Latest quarter
Quarter ended Mar 31, 2026
Reported Jul 28
Revenue
$8.3M
+9.8% YoY
EPS
$0.19
vs $0.30
Free cash flow
$5.0M
Share count
+51.8%
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
1.0
vs normal
0.0x
SEC filings of any kind. 50 means a normal week.
Institutional ownership
▲Accumulating+3.6%
Institutions added 3.6% to their holdings. 56 bought, 29 sold. 4 quarters of net buying in a row.
Shares held by institutions7.9M
Sep '24Jun '26
Safety check
From SEC filings
Share count growthYearly rate, last 3 years
+15.3%
Cash runwayAt last year's cash burn
Cash flow positive
Debt to equityLatest balance sheet: debt compared with what owners have
Total liabilities $470.4M
Shares outstandingLatest reported
23M
Why moderate risk
Share count growing 15.3% a year (dilution)
Revenue down 16.7% from the year before
Earnings reports
Last 12
Next reportDue any dayEstimated from the same quarter last year
Results filedJul 28
Results filedApr 28
Results filedFeb 18
Results filedOct 27, 2025
Results filedJul 28, 2025
Flags and big holders
Offerings 6 months, flags 12 months, holders 90 days