Analyst Ratings

Date	Action	Analyst	Rating	Target
May-21-26	Reiterated	Morgan Stanley	Equal Weight	$8.00 → $7.00
May-07-26	Reiterated	Roth Capital		$13 → $12
Jan-16-26	Reiterated	Morgan Stanley	Equal Weight	$15 → $8.00
Dec-09-25	Downgrade	William Blair	Outperform → Market Perform
Jun-18-25	Reiterated	Roth Capital		$16 → $17
Sep-17-24	Reiterated	Roth Capital		$16
Nov-01-22	Upgrade	Morgan Stanley	Underweight → Equal Weight	$15
Oct-07-21	Upgrade	JP Morgan	Underweight → Neutral
Oct-06-21	Downgrade	Morgan Stanley	Equal Weight → Underweight
Apr-08-21	Upgrade	Cowen & Co.	Market Perform → Outperform

Financial Statements

DataTimeframe

Line Item (USD, M)	TTM —	FY 2025 12/31/2025	FY 2024 12/31/2024	FY 2023 12/31/2023
Total Revenue	907	910	445	Upgrade your experience to unlock full historical data
Cost of Goods Sold Incl. D&A	427	373	167
Gross Profit	480	538	278
Selling, General and Administrative Excl. Other	168	173	110
Research and Development	49	56	45
Other Operating Expense	149	195	72
Operating Income	113	114	51
Interest Expense	69	68	38
Unusual Expense	—	—	—
Non-Operating Income (Expense)	13	19	-5
Net Income Before Taxes	28	27	18
Income Taxes	14	14	4
Consolidated Net Income	14	13	14
Net Income From Continuing Operations	14	13	14
Net Income	14	13	14
EPS (Recurring)	0.10	0.10	0.11
EPS (Basic, Before Extraordinaries)	0.10	0.10	0.11
EPS (Diluted)	0.10	0.09	0.10
EBITDA	161	155	76
Other After Tax Adjustments	—	—	—
Stock Option Compensation Expense	—	—	—
Price To Earnings Ratio	34.10	49.26	—
Price To Sales Ratio	0.51	0.69	—
Gross Margin	52.92	59.12	62.47
Operating Margin	12.46	12.53	11.46
Net Margin	1.54	1.43	3.15
Shares Outstanding	136	134	129
Market Capitalization	464	624	—
Operating Lease Expense	—	—	—

Insider Trading

Insider	Relationship	Date	Transaction	Cost	#Shares	Value ($)	#Shares Total	SEC Form 4
Goldfine Leigh	VP, Chief Accounting Officer	Apr 01 '26	Option Exercise	0.00	8,730	0	30,368	Apr 03 12:00 AM
Gordon Crystal L	EVP, Gen Counsel and Secy	Apr 01 '26	Option Exercise	0.00	35,486	0	91,612	Apr 03 12:00 AM
Moore Christopher John	Chief Executive Officer	Mar 21 '26	Option Exercise	0.00	336,928	0	505,390	Mar 24 12:00 AM
Goldfine Leigh	VP, Chief Accounting Officer	Mar 21 '26	Option Exercise	0.00	9,748	0	27,404	Mar 24 12:00 AM
Olson Hayden	EVP, GM, SD Government	Mar 21 '26	Option Exercise	0.00	26,954	0	40,434	Mar 24 12:00 AM
Cotner Zachary	Chief Financial Officer	Mar 21 '26	Option Exercise	0.00	101,078	0	151,617	Mar 24 12:00 AM
Gordon Crystal L	EVP, Gen Counsel and Secy	Mar 21 '26	Option Exercise	0.00	87,602	0	131,401	Mar 24 12:00 AM
TOWNSEND CHARLES C	Director	Mar 12 '26	Buy	4.57	158,591	723,984	418,686	Mar 13 12:00 AM
TOWNSEND CHARLES C	Director	Mar 11 '26	Buy	4.54	91,409	414,723	260,095	Mar 13 12:00 AM
Gordon Crystal L	EVP, Gen Counsel and Secy	Mar 03 '26	Option Exercise	0.00	21,174	0	46,264	Mar 05 12:00 AM
Goldfine Leigh	VP, Chief Accounting Officer	Mar 03 '26	Option Exercise	0.00	6,654	0	23,662	Mar 05 12:00 AM
THORNE OAKLEIGH	director, 10 percent owner:	Jan 08 '26	Option Exercise	0.00	437,379	0	1,499,717	Jan 12 12:00 AM
THORNE OAKLEIGH	Director	Dec 31 '25	Option Exercise	0.00	673,854	0	1,291,025	Jan 05 12:00 AM
THORNE OAKLEIGH	Executive Chair	Dec 12 '25	Buy	5.34	170,000	907,300	954,098	Dec 16 12:00 AM
Goldfine Leigh	VP, Controller and CAO	Dec 05 '25	Option Exercise	0.00	6,500	0	21,269	Dec 09 12:00 AM


Market Cap	473.33M	Forward P/E	6.69	EPS next Y	0.51	Insider Trans	1.48%	Shs Float	-	Perf Month	-16.42%


Enterprise Value	1.27B	PEG	-	EPS next Q	0.09	Inst Own	-	Short Float	-	Perf Quarter	-23.02%


Income	13.92M	P/S	0.52	EPS this Y	240.00%	Inst Trans	-	Short Ratio	-	Perf Half Y	-27.45%


Sales	906.54M	P/B	4.02	EPS next Y	50.00%	ROA	1.09%	Short Interest	-	Perf YTD	-26.82%


Book/sh	0.87	P/C	5.60	EPS next 5Y	30.61%	ROE	13.03%	52W High	16.82 -79.73%	Perf Year	-72.79%


Cash/sh	0.77	P/FCF	-	EPS past 3/5Y	-	ROIC	5.14%	52W Low	3.26 4.60%	Perf 3Y	-


Dividend Est.	-	EV/EBITDA	7.92	Sales past 3/5Y	31.09% 27.51%	Gross Margin	52.88%	Volatility	5.07% 4.93%	Perf 5Y	-


Dividend TTM	-	EV/Sales	1.40	EPS Y/Y TTM	190.00%	Oper. Margin	12.40%	ATR (14)	0.28	Perf 10Y	-


Dividend Ex-Date	-	Quick Ratio	1.27	Sales Y/Y TTM	103.82%	Profit Margin	1.54%	RSI (14)	36.12	Recom	2.62


Dividend Gr. 3/5Y	-	Current Ratio	1.66	EPS Q/Q	-61.11%	SMA20	-13.71%	Beta	1.46	Target Price	9.50


Payout	0.00%	Debt/Eq	7.65	Sales Q/Q	-1.74%	SMA50	-18.67%	Rel Volume	7.76	Prev Close	3.50


Employees	790	LT Debt/Eq	9.36	Earnings	Aug 06	SMA200	-41.62%	Avg Volume	1.86M	Price	3.41


IPO Date	Jun 21, 2013	Option/Short	Yes / Yes	EPS/Sales Surpr.	-22.22% -3.83%	Net Debt/EBITDA	4.97	Volume	14,460,169	Change	-2.57%

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