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.21.2%
PassProfitable every yearSteady profits, not one good year.10 of 10 years
PassFree cash flow positiveBrings in more cash than it spends to run and grow.$86.3M
MissShare count not growingNot diluting owners. Falling means buybacks.+6.0% in 3 years
Revenue
$357.5M
+14.2% vs prior year
Total debt
$10.1M
Free cash flow
$86.3M
24.1% of revenue
From annual reports filed with the SEC. Gross margin doesn't apply to banks and insurers, so it isn't scored. Not in this company's SEC data, so not scored: return on equity 15%+, debt under half of equity. A checklist is a starting point for research, not a verdict.
Latest quarter
Quarter ended Jun 30, 2026
Reported Oct 9
Revenue
$94.7M
+5.2% YoY
EPS
$1.69
vs $1.59
Free cash flow
$16.0M
Share count
+2.5%
vs a year ago
Insider rating
Last 90 days
60Mixed
1 insider bought $2K
Top executive buying (PRESIDENT AND CEO)
50 is neutral. Buying by more insiders, top executives and bigger stakes raises it. Selling lowers it; pre-planned sales count less.
Weekly insider trend
13 weeks agoBoughtSoldThis week
Filing buzz
Last 7 days vs normal
54/ 100
This week
1
Normal week
0.8
vs normal
1.2x
SEC filings of any kind. 50 means a normal week.
Safety check
From SEC filings
Share count growthYearly rate, last 3 years
+2.1%
Cash runwayAt last year's cash burn
Cash flow positive
Debt to equityLatest balance sheet: debt compared with what owners have
0.0x · $10.1M debt
Shares outstandingLatest reported
12M
Earnings reports
Last 12
Next reportAround Jan 15, 2027 (est.)Estimated from the same quarter last year
Results filedOct 9
Results filedJul 10
Results filedApr 10
Results filedJan 16
Results filedOct 10, 2025
Flags and big holders
Offerings 6 months, flags 12 months, holders 90 days
No offerings, red flags or new big holders. Clean record.