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 4/5 core metricsLatest reported annual revenue changed -15.2% 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 -15.2% 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.
- 2 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 was stable
Operating margin changed -0.4 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 turned positive
Latest reported free cash flow was $1.0B.
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- Reportable Segment$4.37B100.0%-15.2% yoy
Members sum to the consolidated $4.37B for this period.
- Reportable Segment$720M100.0%-37.6% 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 3,990 US-listed filers · 52 in Real Estate| Metric | Value | vs all filers | vs sector |
|---|---|---|---|
Revenue latest fiscal-year revenue as filed | $4.4B | 78thof 3,301 top third | 87thof 48 top third |
Revenue growth latest fiscal-year revenue vs the prior fiscal year | -15.2% | 9thof 3,137 bottom third | 13thof 44 bottom third |
Gross margin gross profit ÷ revenue | 8.0% | 7thof 1,603 bottom third | 32ndof 11 bottom third |
Operating margin operating income ÷ revenue | -6.6% | 34thof 2,819 middle third | 20thof 32 bottom third |
Net margin net income ÷ revenue | -29.7% | 22ndof 3,263 bottom third | 24thof 48 bottom third |
Free-cash-flow margin (operating cash flow − |capex|) ÷ revenue | 23.7% | 87thof 2,679 top third | 84thof 22 top third |
Return on equity net income ÷ stockholders' equity (positive equity only) | -129.3% | 9thof 3,576 bottom third | 5thof 48 bottom third |
Stock comp ÷ revenue stock-based compensation ÷ revenue · lower is ranked higher | 3.6% | 41stof 2,895 middle third | 40thof 34 middle 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 · 19 changed periods| Line item | Period | First reported | Latest filing | Change | Filings |
|---|---|---|---|---|---|
| Cash CashAndCashEquivalentsAtCarryingValue | balance at 2020-03-31 | $156K 10-Q 2020-06-04 | $409M 10-Q 2021-05-12 | +262410.8% | first · latest |
| Cash CashAndCashEquivalentsAtCarryingValue | balance at 2020-09-30 | $250K 10-Q 2020-11-05 | $469M 10-Q 2021-11-10 | +187300.4% | first · latest |
| Cash CashAndCashEquivalentsAtCarryingValue | balance at 2020-06-30 | $988K 10-Q 2020-08-13 | $458M 10-Q 2021-08-11 | +46276.3% | first · latest |
| Operating income OperatingIncomeLoss | quarter 2020-06-30 | -$304K 10-Q 2020-08-13 | -$38.9M 10-Q 2021-08-11 | -12687.9% | first · latest |
| Operating income OperatingIncomeLoss | quarter 2020-09-30 | -$6.06M 10-Q 2020-11-05 | -$44.9M 10-Q 2021-11-10 | -640.6% | first · latest |
| Equity issued ProceedsFromIssuanceOfCommonStock | quarter 2020-03-31 | $25K 10-Q 2020-06-04 | $0 10-Q 2021-05-12 | -100.0% | first · latest |
| Equity issued ProceedsFromIssuanceOfCommonStock | fiscal year 2020-12-31 | $82K 10-K 2021-03-04 | $0 10-K 2023-02-23 | -100.0% | first · latest · 3 filings carry it |
| Net income NetIncomeLoss | fiscal year 2020-12-31 | -$287M 10-K 2021-03-04 | -$253M 10-K 2023-02-23 | +11.8% | first · latest · 3 filings carry it |
| Total liabilities Liabilities | balance at 2020-12-31 | $576M 10-K 2021-03-04 | $623M 10-K 2022-02-24 | +8.2% | first · latest · 5 filings carry it |
| Depreciation and amortization DepreciationDepletionAndAmortization | quarter 2021-03-31 | $5.6M 10-Q 2021-05-12 | $6M 10-Q 2022-05-05 | +7.1% | first · latest |
| Intangibles IntangibleAssetsNetExcludingGoodwill | balance at 2020-12-31 | $8.68M 10-K 2021-03-04 | $9M 10-K 2022-02-24 | +3.6% | first · latest · 5 filings carry it |
| Capital expenditure PaymentsToAcquirePropertyPlantAndEquipment | quarter 2021-03-31 | $4.14M 10-Q 2021-05-12 | $4M 10-Q 2022-05-05 | -3.4% | first · latest |
| Depreciation and amortization DepreciationDepletionAndAmortization | quarter 2021-09-30 | $7.2M 10-Q 2021-11-10 | $7M 10-Q 2022-11-03 | -2.8% | first · latest |
| Capital expenditure PaymentsToAcquirePropertyPlantAndEquipment | fiscal year 2020-12-31 | $17.3M 10-K 2021-03-04 | $17M 10-K 2023-02-23 | -2.0% | first · latest · 3 filings carry it |
| Depreciation and amortization DepreciationDepletionAndAmortization | quarter 2021-06-30 | $6.1M 10-Q 2021-08-11 | $6M 10-Q 2022-08-04 | -1.6% | first · latest |
| Depreciation and amortization DepreciationDepletionAndAmortization | fiscal year 2020-12-31 | $21.7M 10-K 2021-03-04 | $22M 10-K 2023-02-23 | +1.4% | first · latest · 3 filings carry it |
| Interest expense InterestExpense | quarter 2021-09-30 | $43.5M 10-Q 2021-11-10 | $43M 10-Q 2022-11-03 | -1.3% | first · latest |
| Interest expense InterestExpense | quarter 2021-06-30 | $15.8M 10-Q 2021-08-11 | $16M 10-Q 2022-08-04 | +1.1% | first · latest |
| Operating income OperatingIncomeLoss | quarter 2021-09-30 | -$68.4M 10-Q 2021-11-10 | -$69M 10-Q 2022-11-03 | -0.9% | 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 OPEN 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.