Financial Analysis
Filing-based analysis. Market pricing is not included. Fundamentals from SEC filings; economic data from FRED and the BLS. About our data
Filing evidence summary
Mixed evidenceCoverage 5/5 core metricsLatest reported annual revenue changed -4.2% from the prior reported annual observation.
Backward-looking filed evidence under visible rules - not a rating, forecast or investment advice. Missing data is never scored.
Evidence signals
- Revenue contracted
Latest reported annual revenue changed -4.2% from the prior reported annual observation.
Why this surfaced
Direction threshold: above +2% constructive; below -2% caution; otherwise monitor. This is not labeled one-year growth when filing periods have a gap. Period end 2025-12-31.
- 3 filing risk checks flagged
Flagged areas: Solvency & liquidity, Dilution.
Why this surfaced
The full financial analysis shows each value, threshold, and sector limitation.
- Operating margin improved
Operating margin changed +189.0 percentage points from the prior annual period.
Why this surfaced
Direction threshold: more than +1 percentage point constructive; below -1 point caution. Period end 2025-12-31.
- Free cash flow was positive
Latest reported free cash flow was $37M.
Why this surfaced
Free cash flow = operating cash flow minus capital expenditures; positive is supporting evidence, not a valuation conclusion. Period end 2025-12-31.
Core trend metrics
Hover a tile for its exact definition; the Statements tab carries per-cell filing citations.
Where to look next
Risk checks
- Solvency & liquidity
- Dilution
Financial movement
- Cash→ flat
- Long-term debt→ flat
- Inventory→ flat
- Receivables→ flat
- Current assets→ flat
Source & freshness
- Source
- SEC EDGAR XBRL
- Fetched
- 2026-09-06
- Latest period end
- 2025-12-31
- Filings
- EDGAR ↗
Reported segment mix
figures as filed · share of the filed sum · change vs the prior period in the same filing- Subscription Services$232M96.2%-5.2% yoy
- Professional Services$9.3M3.8%+27.1% yoy
Members sum to the consolidated $242M for this period.
- United States$224M92.9%-7.2% yoy
- Outside the United States$17.2M7.1%+65.1% yoy
Members sum to the consolidated $242M for this period.
- Subscription Services$53.6M95.8%-6.5% yoy
- Professional Services$2.36M4.2%+25.4% yoy
Change is against the same quarter a year earlier, as reported in the same 10-Q.
Source: SEC DERA Financial Statement and Notes data sets. Dimensional XBRL facts on the business-segment, product/service and geographic axes; the engine keeps the accession of every figure. Descriptive and educational, not advice.
Peer percentiles
latest fiscal year ending 2025-12-31 · among 4,122 US-listed filers · 817 in Technology| Metric | Value | vs all filers | vs sector |
|---|---|---|---|
Revenue latest fiscal-year revenue as filed | $242M | 35thof 3,301 middle third | 32ndof 778 bottom third |
Revenue growth latest fiscal-year revenue vs the prior fiscal year | -4.2% | 19thof 3,135 bottom third | 17thof 743 bottom third |
Gross margin gross profit ÷ revenue | 75.9% | 90thof 1,603 top third | 84thof 555 top third |
Operating margin operating income ÷ revenue | -92.9% | 17thof 2,819 bottom third | 12thof 752 bottom third |
Net margin net income ÷ revenue | -57.5% | 18thof 3,263 bottom third | 15thof 770 bottom third |
Free-cash-flow margin (operating cash flow − |capex|) ÷ revenue | 15.3% | 77thof 2,679 top third | 67thof 701 top third |
Return on equity net income ÷ stockholders' equity (positive equity only) | -36.7% | 22ndof 3,577 bottom third | 18thof 720 bottom third |
Interest coverage operating income ÷ interest expense (interest expense > 0) | -19.9× | 17thof 819 bottom third | 12thof 195 bottom third |
Stock comp ÷ revenue stock-based compensation ÷ revenue · lower is ranked higher | 12.1% | 23rdof 2,895 bottom third | 25thof 729 bottom third |
Days sales outstanding receivables ÷ revenue × 365 · lower is ranked higher | 79 days | 20thof 2,398 bottom third | 28thof 712 bottom third |
Net debt ÷ operating cash flow net debt ÷ operating cash flow (OCF > 0) · lower is ranked higher | -0.1× | 82ndof 1,547 top third | 80thof 338 top third |
Cash-flow accrual ratio (net income − operating cash flow) ÷ average total assets · lower is ranked higher | -21.1% | 90thof 3,577 top third | 86thof 722 top third |
Balance-sheet accrual ratio change in net operating assets ÷ average net operating assets · lower is ranked higher | -65.3% | 92ndof 3,059 top third | 92ndof 634 top third |
Each filer's latest fiscal year as stored by the nightly crawl; fiscal year ends differ across the universe. A metric ranks only filers for which it is computable from filed facts. Ties split; a rank reads "better than N% of filers" in the metric's own direction. Descriptive and educational, not a rating.
Earnings quality
latest fiscal year ending 2025-12-31 · accruals and cash conversion as filedPer fiscal year from filed facts: cash conversion = operating cash flow / net income (net income > 0); cash-flow accrual ratio = (net income - operating cash flow) / average total assets; balance-sheet accrual ratio = change in net operating assets / average net operating assets, NOA = (assets - cash) - (liabilities - debt). Descriptive; a missing input yields a missing ratio. High accrual ratios and cash conversion well below one are the measures the accruals literature associates with less persistent earnings; they are screens to read the cash-flow statement with, not conclusions. The per-year series is part of Pro risk analysis.
Point-in-time ledger
first-reported vs latest filing · periods since 2020-01-01 · 29 changed periods| Line item | Period | First reported | Latest filing | Change | Filings |
|---|---|---|---|---|---|
| Net income NetIncomeLoss | fiscal year 2020-12-31 | -$51.2M 10-K 2022-03-15 | $0 10-K/A 2023-08-14 | +100.0% | first · latest · 3 filings carry it |
| Interest expense InterestExpense | fiscal year 2022-12-31 | $8.41M 10-K 2023-02-27 | $11.2M 10-K 2025-02-27 | +33.1% | first · latest · 4 filings carry it |
| Operating income OperatingIncomeLoss | quarter 2020-09-30 | -$940K 10-Q 2021-11-08 | -$1.23M 10-K/A 2023-08-14 | -31.3% | first · latest |
| Interest expense InterestExpense | quarter 2022-09-30 | $2.47M 10-Q 2022-11-03 | $3.07M 10-Q 2023-11-02 | +24.7% | first · latest · 3 filings carry it |
| Operating income OperatingIncomeLoss | quarter 2021-03-31 | -$2.16M 10-Q 2022-05-05 | -$2.62M 10-K/A 2023-08-14 | -21.6% | first · latest |
| Net income NetIncomeLoss | fiscal year 2022-12-31 | -$6.04M 10-K 2023-02-27 | -$7.22M 10-K 2025-02-27 | -19.6% | first · latest · 4 filings carry it |
| Operating income OperatingIncomeLoss | quarter 2021-09-30 | -$4.03M 10-Q 2021-11-08 | -$4.64M 10-K/A 2023-08-14 | -15.3% | first · latest · 3 filings carry it |
| Net income NetIncomeLoss | quarter 2022-09-30 | -$2.69M 10-Q 2022-11-03 | -$3.02M 10-Q 2023-11-02 | -12.3% | first · latest · 3 filings carry it |
| Operating income OperatingIncomeLoss | fiscal year 2020-12-31 | -$14.4M 10-K 2022-03-15 | -$15.9M 10-K/A 2023-08-14 | -10.0% | first · latest · 3 filings carry it |
| Operating income OperatingIncomeLoss | fiscal year 2021-12-31 | -$25M 10-K 2022-03-15 | -$27.3M 10-K 2024-02-28 | -9.3% | first · latest · 4 filings carry it |
| Interest expense InterestExpense | quarter 2022-06-30 | $2.58M 10-Q 2022-08-04 | $2.76M 10-Q 2023-08-14 | +7.0% | first · latest · 3 filings carry it |
| Operating income OperatingIncomeLoss | fiscal year 2022-12-31 | -$41.3M 10-K 2023-02-27 | -$44M 10-K 2025-02-27 | -6.7% | first · latest · 4 filings carry it |
| Operating income OperatingIncomeLoss | quarter 2022-09-30 | -$9.43M 10-Q 2022-11-03 | -$10.1M 10-Q 2023-11-02 | -6.7% | first · latest · 3 filings carry it |
| Net income NetIncomeLoss | quarter 2022-06-30 | -$5.15M 10-Q 2022-08-04 | -$5.49M 10-Q 2023-08-14 | -6.5% | first · latest · 3 filings carry it |
| Operating income OperatingIncomeLoss | quarter 2022-06-30 | -$11.2M 10-Q 2022-08-04 | -$11.9M 10-Q 2023-08-14 | -5.9% | first · latest · 3 filings carry it |
| Operating income OperatingIncomeLoss | quarter 2022-03-31 | -$11M 10-Q 2022-05-05 | -$11.6M 10-Q/A 2023-08-14 | -5.3% | first · latest · 4 filings carry it |
| Operating income OperatingIncomeLoss | quarter 2021-06-30 | -$6.62M 10-Q 2022-08-04 | -$6.95M 10-K/A 2023-08-14 | -5.0% | first · latest |
| Interest expense InterestExpense | quarter 2022-03-31 | $1.88M 10-Q 2022-05-05 | $1.95M 10-Q/A 2023-08-14 | +3.7% | first · latest · 4 filings carry it |
| Operating income OperatingIncomeLoss | quarter 2023-03-31 | -$11.8M 10-Q 2023-05-04 | -$12.3M 10-Q 2024-05-07 | -3.7% | first · latest · 3 filings carry it |
| Net income NetIncomeLoss | quarter 2023-03-31 | -$11.8M 10-Q 2023-05-04 | -$12.1M 10-Q 2024-05-07 | -2.1% | first · latest · 3 filings carry it |
| Total liabilities Liabilities | balance at 2023-03-31 | $646M 10-Q 2023-05-04 | $653M 10-Q/A 2023-08-14 | +1.1% | first · latest |
| Total liabilities Liabilities | balance at 2022-12-31 | $634M 10-K 2023-02-27 | $641M 10-K 2024-02-28 | +1.1% | first · latest · 7 filings carry it |
| Total liabilities Liabilities | balance at 2022-09-30 | $642M 10-Q 2022-11-03 | $648M 10-Q 2023-11-02 | +0.9% | first · latest · 3 filings carry it |
| Net income NetIncomeLoss | fiscal year 2021-12-31 | -$17.7M 10-K 2022-03-15 | -$17.8M 10-K 2024-02-28 | -0.9% | first · latest · 4 filings carry it |
| Total liabilities Liabilities | balance at 2022-06-30 | $634M 10-Q 2022-08-04 | $640M 10-Q 2023-08-14 | +0.9% | first · latest · 3 filings carry it |
| Total liabilities Liabilities | balance at 2020-12-31 | $550M 10-Q 2021-11-08 | $554M 10-K/A 2023-08-14 | +0.8% | first · latest · 3 filings carry it |
| Total liabilities Liabilities | balance at 2021-12-31 | $613M 10-K 2022-03-15 | $618M 10-K/A 2023-08-14 | +0.8% | first · latest · 6 filings carry it |
| Total liabilities Liabilities | balance at 2021-09-30 | $587M 10-Q 2021-11-08 | $591M 10-K/A 2023-08-14 | +0.8% | first · latest |
| Total liabilities Liabilities | balance at 2022-03-31 | $644M 10-Q 2022-05-05 | $649M 10-K/A 2023-08-14 | +0.8% | first · latest |
First filing reporting each period vs the latest filing carrying it (10-K and 10-Q only, periods since 2020, the extractor's winning tag per concept); a change under 0.5% is treated as rounding. A change can be a restatement, a reclassification or a re-tagging in a later comparative column; the two filings are linked so the reader can see which. Descriptive, not a verdict.
Notes by disclosure type
Not available for DH yet: no footnote text blocks on file for this filer in the ingested DERA files.
Fundamentals from SEC EDGAR. Scores, the DCF, and every model shown are educational analysis, not investment advice or price predictions.