TSR below peersNo
—
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
1% of revenue
Over 10% of revenue
Payouts exceed cash flowNo
0% of cash flow
Buybacks + dividends over cash flow
Goodwill-heavyNo
5% of assets
Over 40% of assets
Shareholder dissentNo
—
Any vote under 80% support
Buyer economics 2 of 4
Low revenue per employeeNo
$2M · 97th pct
Bottom quartile of its SIC industry
Quiet on AIYes
0.2 per 10K words · 14th pct
Bottom quartile of AI mentions in 10-Ks
Net cashNo
—
More cash than debt, positive EBITDA
Buyout-sizedYes
$701M market cap
Market cap $500M–$5B
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY | Trend |
|---|
| Revenue | $1.4B | $1.4B | $1.5B | $1.7B | $2.0B | ▲ 20% | |
|---|
| Operating income | $66M | $94M | $23M | −$2M | $14M | ▲ 919% | |
|---|
| Net income | $47M | $64M | $7M | −$27M | −$99M | ▼ 270% | |
|---|
| Operating cash flow | $167M | $278M | $98M | $81M | $139M | ▲ 70% | |
|---|
| Capex | $57M | $84M | $76M | $74M | $73M | ▼ 2.4% | |
|---|
| Stock-based comp | $51M | $35M | $34M | $30M | $19M | ▼ 38% | |
|---|
| Buybacks | $0 | $96M | $0 | $0 | — | | |
|---|
13D filers
| Filed | Filer | Form | Stake | Intent |
|---|
| Mar 19, 2026 | STEEL PARTNERS HOLDINGS L.P. | SCHEDULE 13D/A | 4.0% | Active |
| Jan 28, 2026 | STEEL PARTNERS HOLDINGS L.P. | SCHEDULE 13D/A | 5.7% | Active |
| May 9, 2025 | Starboard Value LP | SCHEDULE 13D/A | 3.8% | Active |
| Apr 15, 2025 | Starboard Value LP | SCHEDULE 13D/A | 8.6% | Active |
| Apr 8, 2025 | Starboard Value LP | SCHEDULE 13D/A | 8.0% | Passive |
| Mar 28, 2025 | STEEL PARTNERS HOLDINGS L.P. | SCHEDULE 13D/A | 7.0% | Active |
| Mar 7, 2025 | STEEL PARTNERS HOLDINGS L.P. | SCHEDULE 13D | 5.7% | Passive |
| May 31, 2024 | Starboard Value LP | SC 13D/A | 9.4% | Passive |
| Mar 15, 2022 | Starboard Value LP | SC 13D/A | 9.6% | Active |
| Jun 15, 2021 | Starboard Value LP | SC 13D/A | 9.7% | Passive |
Insider trading
- Open-market buys, 12 mo
- $0 · 0
- Open-market sells, 12 mo
- $268K · 2
- Net
- −$268K
Pay vs performance
No pay-versus-performance disclosure yet.