Analyst Ratings

Date	Action	Analyst	Rating	Target
Jun-01-26	Downgrade	Jefferies	Buy → Hold	$13 → $24
May-11-26	Reiterated	Canaccord Genuity	Buy	$12 → $14
May-10-26	Reiterated	Jefferies	Buy	$12 → $13
Apr-22-26	Reiterated	Industrial Alliance Securities		$11 → $15
Mar-09-26	Reiterated	Truist Financial		$13 → $15
Mar-09-26	Upgrade	Truist Securities	Hold → Buy
Jan-28-26	Reiterated	Roth Capital		$15 → $20
Jan-09-26	Reiterated	Truist Financial		$8.00 → $13
Dec-10-25	Reiterated	Cantor Fitzgerald	Overweight	$20 → $9.00
Nov-06-25	Reiterated	Roth Capital		$20 → $15

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	371	335	304	Upgrade your experience to unlock full historical data
Cost of Goods Sold Incl. D&A	337	318	260
Gross Profit	34	17	44
Selling, General and Administrative Excl. Other	181	171	71
Research and Development	33	20	6
Other Operating Expense	105	56	10
Operating Income	-285	-230	-42
Interest Expense	38	40	13
Unusual Expense	—	—	—
Non-Operating Income (Expense)	-29	-18	-9
Net Income Before Taxes	-325	-252	-116
Income Taxes	-24	-25	-2
Consolidated Net Income	-300	-227	-114
Net Income From Continuing Operations	-300	-227	-114
Net Income	-300	-227	-114
EPS (Recurring)	-2.68	-2.28	-2.35
EPS (Basic, Before Extraordinaries)	-2.68	-2.28	-2.35
EPS (Diluted)	-2.68	-2.28	-2.35
EBITDA	-214	-179	-21
Other After Tax Adjustments	—	—	—
Stock Option Compensation Expense	—	—	—
Price To Earnings Ratio	—	—	—
Price To Sales Ratio	7.50	2.72	—
Gross Margin	9.16	5.07	14.47
Operating Margin	-76.82	-68.66	-13.82
Net Margin	-80.86	-67.76	-37.50
Shares Outstanding	194	120	66
Market Capitalization	2,784	912	—
Operating Lease Expense	—	—	—

Insider Trading

Insider	Relationship	Date	Transaction	Cost	#Shares	Value ($)	#Shares Total	SEC Form 4
AE RED HOLDINGS, LLC	Director	Jun 11 '26	Option Exercise	11.50	4,000,000	46,000,000	2,147,984	Jun 12 12:00 AM
AE RED HOLDINGS, LLC	Director	Jun 11 '26	Sale	21.48	1,070,565	23,000,018	1,077,419	Jun 12 12:00 AM
AE RED HOLDINGS, LLC	Director	May 18 '26	Sale	13.75	15,247,586	209,584,305	128,440	May 20 12:00 AM
AE RED HOLDINGS, LLC	Director	Apr 22 '26	Sale	10.85	21,365,909	231,820,113	128,440	Apr 24 12:00 AM
AE RED HOLDINGS, LLC	director, 10 percent owner:	Apr 21 '26	Sale	10.57	977,887	10,336,266	21,494,349	Apr 22 12:00 AM
AE RED HOLDINGS, LLC	director, 10 percent owner:	Apr 20 '26	Sale	10.23	1,766,372	18,069,986	22,472,236	Apr 22 12:00 AM
AE RED HOLDINGS, LLC	director, 10 percent owner:	Apr 17 '26	Sale	10.77	2,034,536	21,911,953	24,238,608	Apr 20 12:00 AM
AE RED HOLDINGS, LLC	director, 10 percent owner:	Apr 16 '26	Sale	10.57	3,145,207	33,244,838	26,273,144	Apr 20 12:00 AM
AE RED HOLDINGS, LLC	director, 10 percent owner:	Apr 15 '26	Sale	9.70	692,936	6,721,479	29,418,351	Apr 16 12:00 AM
AE RED HOLDINGS, LLC	director, 10 percent owner:	Apr 14 '26	Sale	9.92	1,202,375	11,927,560	30,111,287	Apr 16 12:00 AM
AE RED HOLDINGS, LLC	director, 10 percent owner:	Apr 13 '26	Sale	9.78	790,393	7,730,044	31,313,662	Apr 14 12:00 AM
AE RED HOLDINGS, LLC	director, 10 percent owner:	Apr 10 '26	Sale	9.31	581,018	5,409,278	32,104,055	Apr 14 12:00 AM
AE RED HOLDINGS, LLC	director, 10 percent owner:	Apr 09 '26	Sale	9.37	542,368	5,081,988	32,685,073	Apr 10 12:00 AM
AE RED HOLDINGS, LLC	director, 10 percent owner:	Apr 08 '26	Sale	10.17	407,776	4,147,082	33,227,441	Apr 10 12:00 AM
AE RED HOLDINGS, LLC	director, 10 percent owner:	Mar 25 '26	Sale	9.45	2,500,000	23,625,000	33,635,217	Mar 26 12:00 AM


Market Cap	2.16B	Forward P/E	-	EPS next Y	-0.50	Insider Trans	-40.72%	Shs Float	-	Perf Month	3.16%


Enterprise Value	2.22B	PEG	0.19	EPS next Q	-0.19	Inst Own	-	Short Float	-	Perf Quarter	49.01%


Income	-232703915.00	P/S	5.81	EPS this Y	69.54%	Inst Trans	-	Short Ratio	-	Perf Half Y	117.75%


Sales	370.96M	P/B	2.56	EPS next Y	38.22%	ROA	-19.86%	Short Interest	-	Perf YTD	88.82%


Book/sh	4.56	P/C	-	EPS next 5Y	-	ROE	-29.03%	52W High	26.64 -46.13%	Perf Year	-14.07%


Cash/sh	0.61	P/FCF	-	EPS past 3/5Y	-	ROIC	-19.61%	52W Low	4.87 194.66%	Perf 3Y	-


Dividend Est.	-	EV/EBITDA	-10.36	Sales past 3/5Y	27.67% 42.51%	Gross Margin	9.18%	Volatility	6.99% 9.66%	Perf 5Y	-


Dividend TTM	-	EV/Sales	5.99	EPS Y/Y TTM	51.91%	Oper. Margin	-76.60%	ATR (14)	2.17	Perf 10Y	-


Dividend Ex-Date	-	Quick Ratio	1.37	Sales Y/Y TTM	22.04%	Profit Margin	-80.90%	RSI (14)	45.44	Recom	2.40


Dividend Gr. 3/5Y	-	Current Ratio	1.75	EPS Q/Q	10.00%	SMA20	-21.92%	Beta	3.71	Target Price	17.60


Payout	0.00%	Debt/Eq	0.19	Sales Q/Q	59.02%	SMA50	4.27%	Rel Volume	1.07	Prev Close	14.36


Employees	750	LT Debt/Eq	0.21	Earnings	Aug 05	SMA200	45.37%	Avg Volume	43.47M	Price	14.35


IPO Date	Jan 14, 2021	Option/Short	Yes / Yes	EPS/Sales Surpr.	-12.50% -8.49%	Net Debt/EBITDA	-0.30	Volume	46,511,354	Change	-0.07%

RDW