TSR below peersNo
0 of 5 years
3+ of last 5 years
High CEO pay despite TSRNo
—
Median CEO pay ≥ $15M while TSR trails
Earnings not backed by cashNo
—
Cash flow under 80% of net income
Dilutive SBCNo
2% of revenue
Over 10% of revenue
Payouts exceed cash flowNo
13% of cash flow
Buybacks + dividends over cash flow
Goodwill-heavyNo
—
Over 40% of assets
Shareholder dissentNo
91% lowest support
Any vote under 80% support
Buyer economics 2 of 4
Low revenue per employeeNo
$1M · 43rd pct
Bottom quartile of its SIC industry
Quiet on AIYes
0.0 per 10K words · 0th pct
Bottom quartile of AI mentions in 10-Ks
Net cashNo
1.6× EBITDA net debt
More cash than debt, positive EBITDA
Buyout-sizedYes
$677M market cap
Market cap $500M–$5B
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY | Trend |
|---|
| Revenue | $199M | $354M | $455M | $479M | $359M | ▼ 25% | |
|---|
| Operating income | $79M | $171M | $159M | $136M | −$21M | ▼ 115% | |
|---|
| Net income | $82M | $52M | $60M | $58M | −$41M | ▼ 171% | |
|---|
| Operating cash flow | $50M | $129M | $224M | $114M | $213M | ▲ 87% | |
|---|
| Stock-based comp | $2M | $2M | $3M | $4M | $6M | ▲ 45% | |
|---|
| Buybacks | $1M | $4M | $24M | $7M | $709K | ▼ 90% | |
|---|
| Dividends | $0 | $9M | $27M | $26M | $26M | ▲ 1.0% | |
|---|
Deal filings
| Filed | Form | Acquirer | Price | Premium |
|---|
| Aug 30, 2022 | DEFM14A | — | $0.67 | 67.27% |
| Aug 19, 2022 | PREM14A | — | $0.67 | 67.27% |
13D filers
| Filed | Filer | Form | Stake | Intent |
|---|
| Nov 10, 2021 | Radoff Bradley Louis | SC 13D/A | 3.4% | Passive |
| Jun 26, 2020 | Radoff Bradley Louis | SC 13D/A | 6.8% | Passive |
| May 5, 2020 | Radoff Bradley Louis | SC 13D/A | 6.8% | Passive |
| May 23, 2019 | KORNITZER CAPITAL MANAGEMENT INC /KS | SC 13D/A | 5.0% | Passive |
| Apr 29, 2019 | KORNITZER CAPITAL MANAGEMENT INC /KS | SC 13D/A | 5.8% | Passive |
| Apr 3, 2019 | KORNITZER CAPITAL MANAGEMENT INC /KS | SC 13D/A | 6.9% | Passive |
| Mar 5, 2019 | Radoff Bradley Louis | SC 13D/A | 7.6% | Passive |
| Feb 25, 2019 | KORNITZER CAPITAL MANAGEMENT INC /KS | SC 13D/A | 7.9% | Passive |
Insider trading
No open-market trades in the last 12 months.
Pay vs performance
| Year | CEO total comp | Comp actually paid | TSR (indexed) | Peer TSR |
|---|
| FY2025 | — | — | 250 | 166 |
| FY2024 | — | — | 281 | 119 |
| FY2023 | — | — | 275 | 134 |
| FY2022 | — | — | 264 | 126 |
| FY2021 | — | — | 181 | 95 |