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Strong institutional accumulation: ownership increased +46.75% quarter-over-quarter.
Data as of Q1 2026
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Total shares institutions bought (green) vs sold (red) each quarter across all holders.
Inferred from quarter-over-quarter change in each fund's 13F position (new stakes count as buys, exits as sells). Not tick-level trades.
Top 4 institutional holders — bubble size is position value, color is the move since last quarter. Hover any holder for detail.
Drag any bubble to rearrange · size = dollar value of the position
Solve the discounted cash flow backwards, then stress-test the assumptions.
This company doesn't have positive free cash flow, so a reverse DCF can't be run.
EOD close · as of 2026-08-03 · 44d old
How a revenue dollar becomes profit — FY2025
Each value shows its share of revenue below it (common-size).
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $9.5M 100.0% | $11.4M 100.0% | $16.0M 100.0% | $7.9M 100.0% | $987K 100.0% | $1.3M 100.0% | $535K 100.0% | $131K 100.0% | $46K 100.0% | $7K 100.0% |
| Cost of Revenue | $9.7M 102.1% | $11.5M 101.0% | $14.2M 88.8% | $8.8M 110.2% | $812K 82.3% | $953K 75.9% | $379K 70.8% | $56K 42.5% | $18K 38.3% | $2K 34.7% |
| Gross Profit | -$198K -2.1% | -$120K -1.0% | $1.8M 11.2% | -$807K -10.2% | $175K 17.7% | $303K 24.1% | $156K 29.2% | $75K 57.5% | $29K 61.7% | $5K 65.3% |
| Research & Development | $79K 0.8% | $386K 3.4% | $133K 0.8% | $747K 9.4% | $330K 33.5% | $320K 25.5% | $309K 57.8% | $24K 18.0% | $64K 138.8% | $147K 2067.7% |
| Selling, General & Admin | — | — | — | — | $171K 17.3% | $390K 31.1% | $633K 118.2% | $714K 544.0% | $348K 749.0% | $4K 51.1% |
| Total Operating Expenses | $14.6M 153.0% | $12.1M 106.0% | $10.6M 66.0% | $7.2M 90.5% | $3.5M 353.3% | $3.1M 244.9% | $6.2M 1150.5% | $1.8M 1361.4% | $2.7M 5837.5% | $1.4M 19107.2% |
| Operating Income | -$14.8M -155.0% | -$12.2M -107.0% | -$8.8M -54.8% | -$8.0M -100.6% | -$3.3M -335.6% | -$2.8M -220.7% | -$6.0M -1121.3% | -$1.7M -1303.9% | -$2.7M -5775.8% | -$1.4M -19041.9% |
| Interest Expense | $2.5M 26.5% | $4.0M 34.8% | $364K 2.3% | $208K 2.6% | $2.1M 208.9% | $2.3M 182.6% | $1.6M 299.4% | $290K 220.9% | $283K 610.1% | $41K 576.7% |
| Interest & Investment Income | $2K 0.0% | $1K 0.0% | $4K 0.0% | $6K 0.1% | — | — | — | — | — | — |
| Pretax Income | -$34.3M -360.5% | -$17.6M -154.2% | -$9.7M -60.8% | -$10.1M -126.9% | -$6.1M -618.0% | -$6.0M -476.3% | -$7.6M -1420.7% | -$2.0M -1524.8% | -$2.9M -6342.9% | -$1.4M -19196.2% |
| Income Tax Expense | — | — | — | — | — | $0 0.0% | $0 0.0% | $0 0.0% | $0 0.0% | $0 0.0% |
| Net Income | -$34.3M -360.5% | -$17.6M -154.2% | -$9.7M -60.8% | -$10.1M -126.9% | -$6.1M -618.0% | -$6.0M -476.3% | -$7.6M -1420.7% | -$2.0M -1524.8% | -$2.9M -6342.9% | -$1.4M -19196.2% |
| Per Share | ||||||||||
| EPS (Basic) | $-63214.16 | $-12276404.46 | $-857.02 | $-33.76 | $-4.85 | — | — | — | — | — |
| EPS (Diluted) | $-63214.16 | $-12276404.46 | $-857.02 | $-33.76 | $-3.14 | — | — | — | — | — |
| Weighted Avg Shares (Basic) | 543 | 1 | 11K | 299K | 1.3M | — | — | — | — | — |
| Weighted Avg Shares (Diluted) | 543 | 1 | 11K | 299K | 1.9M | — | — | — | — | — |
Source: SEC EDGAR XBRL filings (annual, fiscal year). Quarterly flow items are derived from cumulative filings; balance-sheet figures are as-of each period end. Ratios and margins are computed, not reported.
Is the value real, and is the business safe? Academic scores + earnings quality + solvency, from SEC filings.
Safe > 2.99 · grey 1.81–2.99 · distress < 1.81
Eight indices comparing this year to last (receivables, margins, asset quality, growth, accruals, leverage). Above −1.78 suggests possible manipulation; below −2.22 is clean.
A screen, not proof — high growth alone can raise it.
Cash-conversion data unavailable. Lower/negative accruals = higher quality (Sloan).
Interest coverage is thin — monitor; leverage falling year-over-year.
F-Score (0–9 fundamental momentum), Altman Z (distress risk), and Beneish M (earnings-manipulation screen) are academic models computed from the SEC filings. Screens and context — educational, not recommendations.
What the company returns to shareholders — and whether it's covered by cash.
No dividend to cover. Last year: $0 dividends + $0 buybacks = $0 returned on -$8M FCF.
Yields use the latest fiscal-year dividends/buybacks over current market cap. Dividends and buybacks from the SEC cash-flow statement; payout coverage vs net income and free cash flow. Educational — not a recommendation.
How management deployed cash over 10 years — and what it earned on reinvestment.
A reinvestment story — most cash went back into growth rather than to shareholders.
Operating income fell despite reinvestment — a warning on capital productivity. Current ROIC on all capital: -143%. Rough measure (includes maintenance capex).
Cash uses aggregated from the SEC cash-flow statement over 10 fiscal years. "Return on reinvestment" is a rough proxy — operating-income change ÷ cumulative CapEx + M&A — and includes maintenance capex. Educational — not a recommendation.
How much the company owes, how it's trended, and how comfortably it's serviced.
Insufficient EBITDA/debt history.
Green ≤ 1.5× · amber ≤ 3× · red > 3× (leverage relative to cash earnings).
Thin coverage — earnings barely cover interest. Effective rate ~12.9% on $20M of debt.
Cash of $147586 is below short-term debt of $20M — relies on refinancing/operations.
Mostly short-term debt (balance-sheet current vs non-current split). A year-by-year maturity schedule wasn't disclosed for this issuer.
Debt, cash, interest and equity from the SEC balance sheet & income statement. Effective rate = interest ÷ average debt. Educational — not a recommendation.
Total return (dividends reinvested) vs the market, from quarter-end prices.
Above 0 = ahead of the S&P 500 since the window start; below 0 = behind. Rising means it's pulling ahead.
How far the stock fell below its prior peak. Deeper, longer drawdowns = a rougher ride to the same return.
Quarter-end, dividend-adjusted (total return). Beta & volatility from quarterly returns (annualized). Benchmark is the S&P 500 (SPY total return). Annual returns compound the quarters ending in each calendar year; the first and last years in a window may be partial. Past performance doesn't predict future results.
EOD close · as of 2026-08-03
Where each multiple sits in its own 4-yr range
Dot = today · shaded = middle 50% · line = median. Lower percentile = cheaper vs its own 4-yr history.
Is the profit real, and how strong is the balance sheet?
FY2025 · every deduction from revenue to net income
DuPont — the three levers
Watch the leverage lever — a chunk of ROE comes from the balance sheet.
What the company owes vs. what it holds
Year-by-year maturities aren't in SEC companyfacts (footnote-only), so this shows the debt/cash structure and net leverage instead.
Latest year: profit growth vs revenue growth
Profit and sales moved in opposite directions this year.
Each line as % of revenue — the trend in color
| % of revenue | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|
| Cost of Revenue | 42.5 | 70.8 | 75.9 | 82.3 | 110.2 | 88.8 | 101.0 | 102.1 |
| Gross Profit | 57.5 | 29.2 | 24.1 | 17.7 | -10.2 | 11.2 | -1.0 | -2.1 |
| R&D | 18.0 | 57.8 | 25.5 | 33.5 | 9.4 | 0.8 | 3.4 | 0.8 |
| SG&A | 544.0 | 118.2 | 31.1 | 17.3 | — | — | — | — |
| Operating Income | -1303.9 | -1121.3 | -220.7 | -335.6 | -100.6 | -54.8 | -107.0 | -155.0 |
| Income Tax | 0.0 | 0.0 | 0.0 | — | — | — | — | — |
| Net Income | -1524.8 | -1420.7 | -476.3 | -618.0 | -126.9 | -60.8 | -154.2 | -360.5 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on AREBW: price, valuation, headline fundamentals, and an auto-generated scorecard from SEC filings. Flags are rule-based signals, not recommendations.