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Strong institutional accumulation: ownership increased +3.11% 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 40 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
Is the value real, and is the business safe? Academic scores + earnings quality + solvency, from SEC filings.
3/8 of the 9 checks — 1 couldn't be scored (see above), so the score is out of the 8 with data.
Safe > 2.99 · grey 1.81–2.99 · distress < 1.81 · book equity (no price)
Needs granular two-year detail (receivables, PP&E, D&A, SG&A) — not fully reported.
Cash-conversion data unavailable. Lower/negative accruals = higher quality (Sloan).
Coverage data unavailable.
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 -$177M 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 4 years — and what it earned on reinvestment.
A cash-return story — far more went to shareholders than back into the business (mature, low-reinvestment).
Insufficient data. Current ROIC on all capital: -8%. Rough measure (includes maintenance capex).
Cash uses aggregated from the SEC cash-flow statement over 4 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).
Interest expense isn't separately reported — often netted into “other income (expense), net.”
Cash vs short-term debt unavailable.
Short-term / long-term split not separately reported.
Debt, cash, interest and equity from the SEC balance sheet & income statement. Effective rate = interest ÷ average debt. Educational — not a recommendation.
How a revenue dollar becomes profit — FY2025
Each value shows its share of revenue below it (common-size).
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 |
|---|---|---|---|---|
| Revenue | $90.0M 100.0% | $75.0M 100.0% | $71.9M 100.0% | $68.4M 100.0% |
| Cost of Revenue | $75.8M 84.3% | $63.6M 84.8% | $55.0M 76.5% | $36.3M 53.1% |
| Gross Profit | $14.2M 15.7% | $11.4M 15.2% | $16.9M 23.5% | $32.1M 46.9% |
| Research & Development | $217.4M 241.6% | $240.2M 320.1% | $122.7M 170.7% | $153.6M 224.6% |
| Selling, General & Admin | $57.6M 64.0% | $56.7M 75.6% | $37.4M 52.0% | $49.2M 71.9% |
| Total Operating Expenses | $275.0M 305.6% | $296.9M 395.8% | $160.1M 222.7% | $202.8M 296.5% |
| Operating Income | -$260.9M -289.8% | -$285.5M -380.6% | -$143.2M -199.2% | -$170.7M -249.6% |
| Other Income (Expense), net | $13.1M 14.5% | $5.8M 7.7% | $6.2M 8.6% | $9.6M 14.1% |
| Pretax Income | -$76.8M -85.3% | -$275.0M -366.6% | -$125.5M -174.5% | -$148.3M -216.9% |
| Income Tax Expense | — | $1K 0.0% | -$126K -0.2% | -$74K -0.1% |
| Net Income | -$134.0M -148.9% | -$274.1M -365.4% | -$124.8M -173.6% | -$148.0M -216.4% |
| Per Share | ||||
| EPS (Basic) | $-0.35 | $-2.40 | $-1.40 | $-1.73 |
| EPS (Diluted) | $-0.35 | $-2.40 | $-1.40 | $-1.73 |
| Weighted Avg Shares (Basic) | 379.9M | 114.3M | 89.1M | 85.3M |
| Weighted Avg Shares (Diluted) | 379.9M | 114.3M | 89.1M | 85.3M |
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.
No current price collected.
No standout strengths flagged.
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 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|
| Cost of Revenue | 53.1 | 76.5 | 84.8 | 84.3 |
| Gross Profit | 46.9 | 23.5 | 15.2 | 15.7 |
| R&D | 224.6 | 170.7 | 320.1 | 241.6 |
| SG&A | 71.9 | 52.0 | 75.6 | 64.0 |
| Operating Income | -249.6 | -199.2 | -380.6 | -289.8 |
| Income Tax | -0.1 | -0.2 | 0.0 | — |
| Net Income | -216.4 | -173.6 | -365.4 | -148.9 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on PONY: price, valuation, headline fundamentals, and an auto-generated scorecard from SEC filings. Flags are rule-based signals, not recommendations.