The checklist Warren Buffett-style investors use. Annual numbers for 2025.
3/4Mixed
PassNet margin 10%+Keeps at least 10 cents of profit from each dollar of sales.16.3%
MissProfitable every yearSteady profits, not one good year.5 of 10 years
PassFree cash flow positiveBrings in more cash than it spends to run and grow.$149.6M
PassShare count not growingNot diluting owners. Falling means buybacks.-0.2% in 3 years
Revenue
$606.0M
+15.4% vs prior year
5-year growth
+11.6%/yr
revenue, per year
Total debt
$569.1M
Current ratio
2.21x
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%+, debt under half of equity, gross margin 40%+. A checklist is a starting point for research, not a verdict.
Latest quarter
Quarter ended Jun 30, 2026
Reported Jul 29
Revenue
$202.2M
+20.0% YoY
EPS
$7.33
vs $3.67
Op. margin
41.9%
+14.4 pts
Gross margin
46.1%
+13.7 pts
Free cash flow
$50.9M
Share count
0.0%
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
■Steady-0.9%
Institutions cut 0.9% from their holdings. 36 bought, 30 sold.
Shares held by institutions5.7M
Sep '24Jun '26
Safety check
From SEC filings
Share count growthYearly rate, last 3 years
0.0%
Cash runwayAt last year's cash burn
Cash flow positive
Debt to equityLatest balance sheet: debt compared with what owners have
$569.0M debt
Shares outstandingLatest reported
11M
Earnings reports
Last 12
Next reportIn 1 days (est.)Estimated from the same quarter last year
Results filedJul 29
Results filedApr 29
Results filedFeb 18
Results filedJan 26
Results filedOct 29, 2025
Flags and big holders
Offerings 6 months, flags 12 months, holders 90 days