{
  "ticker": {
    "uuid": "21f8b12f-aa0b-414c-bdc1-ca44074d3755",
    "symbol": "CARL",
    "name": "Carlsmed, Inc. Common Stock",
    "exchange": "NASDAQ",
    "exchange_name": "NASDAQ",
    "country": "US",
    "currency": "USD",
    "sector": "Healthcare",
    "industry": "Health Information Services",
    "page_url": "https://sharemaestro.com/factors/ticker/21f8b12f-aa0b-414c-bdc1-ca44074d3755/",
    "api_url": "https://sharemaestro.com/factors/api/tickers/21f8b12f-aa0b-414c-bdc1-ca44074d3755/"
  },
  "latest_snapshot": {
    "ticker": {
      "uuid": "21f8b12f-aa0b-414c-bdc1-ca44074d3755",
      "symbol": "CARL",
      "name": "Carlsmed, Inc. Common Stock",
      "exchange": "NASDAQ",
      "exchange_name": "NASDAQ",
      "country": "US",
      "currency": "USD",
      "sector": "Healthcare",
      "industry": "Health Information Services",
      "page_url": "https://sharemaestro.com/factors/ticker/21f8b12f-aa0b-414c-bdc1-ca44074d3755/",
      "api_url": "https://sharemaestro.com/factors/api/tickers/21f8b12f-aa0b-414c-bdc1-ca44074d3755/"
    },
    "week_end_date": "2026-07-26",
    "universe": "USD_US",
    "score": {
      "os": 0.03,
      "value": 0.22,
      "quality": 0.08,
      "momentum": 0.13,
      "coverage": 0.818,
      "confidence": 0.784,
      "delta": 64
    },
    "headline_factors": {
      "price": 10.8,
      "market_cap": 293597276.4,
      "pe_ratio": null,
      "earnings_yield": null,
      "ebitda_to_ev": null,
      "shareholder_yield": -0.3183,
      "roe": -0.3597,
      "piotroski_f_score": 6,
      "momentum_12_1": -0.189,
      "volatility_252d": 0.7073
    },
    "strategy_flags": {
      "market_leader": false,
      "cornerstone_value": false,
      "cornerstone_growth": false,
      "tiny_titan": false,
      "all_cap_buyback": false,
      "small_cap_core": false,
      "veiled_value": false,
      "earnings_consistent_5y": true
    },
    "factor_groups": {
      "valuation": {
        "pe_ratio": null,
        "ev_ebitda": null,
        "earnings_yield": null,
        "fcf_yield": -0.1361,
        "shareholder_yield": -0.3183
      },
      "quality": {
        "roe": -0.3597,
        "roic": -0.7641,
        "gross_margin": 0.7589,
        "fcf_margin": -0.5737,
        "piotroski_f_score": 6
      },
      "growth": {
        "revenue_growth_1y": 0.749,
        "eps_growth_1y": null,
        "fcf_growth_1y": null
      },
      "momentum": {
        "price_return_12m": -0.2552,
        "momentum_12_1": -0.189,
        "relative_strength": -0.4714
      },
      "scores": {
        "value_percentile": 0.22,
        "quality_percentile": 0.08,
        "momentum_percentile": 0.13,
        "growth_composite": 13,
        "yield_composite": 96,
        "overall_composite": 97,
        "os_score": 0.03,
        "factor_coverage": 0.818,
        "signal_confidence": 0.784
      }
    }
  },
  "factor_history": [
    {
      "week_end_date": "2026-06-07",
      "price": 11.07,
      "os": 0.31,
      "value": 0.41,
      "quality": 0.39,
      "momentum": 0.4,
      "confidence": 0.758,
      "coverage": 0.758,
      "pe_ratio": null,
      "earnings_yield": null,
      "shareholder_yield": -0.3106,
      "roe": -0.3597,
      "momentum_12_1": null
    },
    {
      "week_end_date": "2026-06-14",
      "price": 11.42,
      "os": 0.31,
      "value": 0.41,
      "quality": 0.39,
      "momentum": 0.4,
      "confidence": 0.758,
      "coverage": 0.758,
      "pe_ratio": null,
      "earnings_yield": null,
      "shareholder_yield": -0.3011,
      "roe": -0.3597,
      "momentum_12_1": null
    },
    {
      "week_end_date": "2026-06-21",
      "price": 10.07,
      "os": 0.67,
      "value": 0.57,
      "quality": 0.55,
      "momentum": 0.57,
      "confidence": 0.758,
      "coverage": 0.758,
      "pe_ratio": null,
      "earnings_yield": null,
      "shareholder_yield": -0.3414,
      "roe": -0.3597,
      "momentum_12_1": null
    },
    {
      "week_end_date": "2026-06-28",
      "price": 11.76,
      "os": 0.67,
      "value": 0.58,
      "quality": 0.56,
      "momentum": 0.57,
      "confidence": 0.758,
      "coverage": 0.758,
      "pe_ratio": null,
      "earnings_yield": null,
      "shareholder_yield": -0.2924,
      "roe": -0.3597,
      "momentum_12_1": null
    },
    {
      "week_end_date": "2026-07-05",
      "price": 11.34,
      "os": 0.78,
      "value": 0.63,
      "quality": 0.62,
      "momentum": 0.63,
      "confidence": 0.751,
      "coverage": 0.758,
      "pe_ratio": null,
      "earnings_yield": null,
      "shareholder_yield": -0.3032,
      "roe": -0.3597,
      "momentum_12_1": null
    },
    {
      "week_end_date": "2026-07-12",
      "price": 11.9,
      "os": 0.57,
      "value": 0.52,
      "quality": 0.5,
      "momentum": 0.53,
      "confidence": 0.743,
      "coverage": 0.758,
      "pe_ratio": null,
      "earnings_yield": null,
      "shareholder_yield": -0.2889,
      "roe": -0.3597,
      "momentum_12_1": null
    },
    {
      "week_end_date": "2026-07-19",
      "price": 11.66,
      "os": 0.67,
      "value": 0.58,
      "quality": 0.56,
      "momentum": 0.57,
      "confidence": 0.735,
      "coverage": 0.758,
      "pe_ratio": null,
      "earnings_yield": null,
      "shareholder_yield": -0.2949,
      "roe": -0.3597,
      "momentum_12_1": null
    },
    {
      "week_end_date": "2026-07-26",
      "price": 10.8,
      "os": 0.03,
      "value": 0.22,
      "quality": 0.08,
      "momentum": 0.13,
      "confidence": 0.784,
      "coverage": 0.818,
      "pe_ratio": null,
      "earnings_yield": null,
      "shareholder_yield": -0.3183,
      "roe": -0.3597,
      "momentum_12_1": -0.189
    }
  ],
  "financial_periods": {
    "annual": [
      {
        "period_end_date": "2025-12-31",
        "period_type": "annual",
        "fiscal_year": 2025,
        "fiscal_quarter": null,
        "currency_reported": "USD",
        "is_restated": false,
        "income_statement": {
          "revenue": 50511000,
          "cost_of_revenue": 12471000,
          "gross_profit": 38040000,
          "ebit": -28788000,
          "ebitda": -28507000,
          "pretax_income": -30218000,
          "tax_provision": null,
          "net_income": -30218000,
          "net_income_to_common": -30218000,
          "eps_basic": null,
          "eps_diluted": null,
          "shares_basic": null,
          "shares_diluted": null
        },
        "balance_sheet": {
          "cash_and_equivalents": 85793000,
          "total_current_assets": 126673000,
          "total_assets": 130120000,
          "short_term_debt": 752000,
          "long_term_debt": 15346000,
          "total_debt": 17414000,
          "total_liabilities": 31251000,
          "total_equity": 98869000,
          "shares_outstanding": 14221991,
          "goodwill_and_intangibles": null
        },
        "cash_flow": {
          "operating_cash_flow": -28977000,
          "capital_expenditure": 642000,
          "free_cash_flow": -28335000,
          "dividends_paid": null,
          "share_repurchases": null,
          "shares_issued": 105384000,
          "net_debt_issued": null
        }
      },
      {
        "period_end_date": "2025-12-31",
        "period_type": "annual",
        "fiscal_year": 2025,
        "fiscal_quarter": null,
        "currency_reported": "USD",
        "is_restated": false,
        "income_statement": {
          "revenue": 50511000,
          "cost_of_revenue": 12471000,
          "gross_profit": 38040000,
          "ebit": -28788000,
          "ebitda": -28507000,
          "pretax_income": -30218000,
          "tax_provision": null,
          "net_income": -30218000,
          "net_income_to_common": -30218000,
          "eps_basic": null,
          "eps_diluted": null,
          "shares_basic": null,
          "shares_diluted": null
        },
        "balance_sheet": {
          "cash_and_equivalents": 85793000,
          "total_current_assets": 126673000,
          "total_assets": 130120000,
          "short_term_debt": 752000,
          "long_term_debt": 15346000,
          "total_debt": 17414000,
          "total_liabilities": 31251000,
          "total_equity": 98869000,
          "shares_outstanding": 14221991,
          "goodwill_and_intangibles": null
        },
        "cash_flow": {
          "operating_cash_flow": -28977000,
          "capital_expenditure": 642000,
          "free_cash_flow": -28335000,
          "dividends_paid": null,
          "share_repurchases": null,
          "shares_issued": 105384000,
          "net_debt_issued": null
        }
      },
      {
        "period_end_date": "2025-12-31",
        "period_type": "annual",
        "fiscal_year": 2025,
        "fiscal_quarter": null,
        "currency_reported": "USD",
        "is_restated": false,
        "income_statement": {
          "revenue": 50511000,
          "cost_of_revenue": 12471000,
          "gross_profit": 38040000,
          "ebit": -28788000,
          "ebitda": -28507000,
          "pretax_income": -30218000,
          "tax_provision": null,
          "net_income": -30218000,
          "net_income_to_common": -30218000,
          "eps_basic": null,
          "eps_diluted": null,
          "shares_basic": null,
          "shares_diluted": null
        },
        "balance_sheet": {
          "cash_and_equivalents": 85793000,
          "total_current_assets": 126673000,
          "total_assets": 130120000,
          "short_term_debt": 752000,
          "long_term_debt": 15346000,
          "total_debt": 17414000,
          "total_liabilities": 31251000,
          "total_equity": 98869000,
          "shares_outstanding": 14221991,
          "goodwill_and_intangibles": null
        },
        "cash_flow": {
          "operating_cash_flow": -28977000,
          "capital_expenditure": 642000,
          "free_cash_flow": -28335000,
          "dividends_paid": null,
          "share_repurchases": null,
          "shares_issued": 105384000,
          "net_debt_issued": null
        }
      },
      {
        "period_end_date": "2025-12-31",
        "period_type": "annual",
        "fiscal_year": 2025,
        "fiscal_quarter": null,
        "currency_reported": "USD",
        "is_restated": false,
        "income_statement": {
          "revenue": 50511000,
          "cost_of_revenue": 12471000,
          "gross_profit": 38040000,
          "ebit": -28788000,
          "ebitda": -28507000,
          "pretax_income": -30218000,
          "tax_provision": null,
          "net_income": -30218000,
          "net_income_to_common": -30218000,
          "eps_basic": null,
          "eps_diluted": null,
          "shares_basic": null,
          "shares_diluted": null
        },
        "balance_sheet": {
          "cash_and_equivalents": 85793000,
          "total_current_assets": 126673000,
          "total_assets": 130120000,
          "short_term_debt": 752000,
          "long_term_debt": 15346000,
          "total_debt": 17414000,
          "total_liabilities": 31251000,
          "total_equity": 98869000,
          "shares_outstanding": 14221991,
          "goodwill_and_intangibles": null
        },
        "cash_flow": {
          "operating_cash_flow": -28977000,
          "capital_expenditure": 642000,
          "free_cash_flow": -28335000,
          "dividends_paid": null,
          "share_repurchases": null,
          "shares_issued": 105384000,
          "net_debt_issued": null
        }
      },
      {
        "period_end_date": "2025-12-31",
        "period_type": "annual",
        "fiscal_year": 2025,
        "fiscal_quarter": null,
        "currency_reported": "USD",
        "is_restated": false,
        "income_statement": {
          "revenue": 50511000,
          "cost_of_revenue": 12471000,
          "gross_profit": 38040000,
          "ebit": -28788000,
          "ebitda": -28507000,
          "pretax_income": -30218000,
          "tax_provision": null,
          "net_income": -30218000,
          "net_income_to_common": -30218000,
          "eps_basic": null,
          "eps_diluted": null,
          "shares_basic": null,
          "shares_diluted": null
        },
        "balance_sheet": {
          "cash_and_equivalents": 85793000,
          "total_current_assets": 126673000,
          "total_assets": 130120000,
          "short_term_debt": 752000,
          "long_term_debt": 15346000,
          "total_debt": 17414000,
          "total_liabilities": 31251000,
          "total_equity": 98869000,
          "shares_outstanding": 14221991,
          "goodwill_and_intangibles": null
        },
        "cash_flow": {
          "operating_cash_flow": -28977000,
          "capital_expenditure": 642000,
          "free_cash_flow": -28335000,
          "dividends_paid": null,
          "share_repurchases": null,
          "shares_issued": 105384000,
          "net_debt_issued": null
        }
      },
      {
        "period_end_date": "2025-12-31",
        "period_type": "annual",
        "fiscal_year": 2025,
        "fiscal_quarter": null,
        "currency_reported": "USD",
        "is_restated": false,
        "income_statement": {
          "revenue": 50511000,
          "cost_of_revenue": 12471000,
          "gross_profit": 38040000,
          "ebit": -28788000,
          "ebitda": -28507000,
          "pretax_income": -30218000,
          "tax_provision": null,
          "net_income": -30218000,
          "net_income_to_common": -30218000,
          "eps_basic": null,
          "eps_diluted": null,
          "shares_basic": null,
          "shares_diluted": null
        },
        "balance_sheet": {
          "cash_and_equivalents": 85793000,
          "total_current_assets": 126673000,
          "total_assets": 130120000,
          "short_term_debt": 752000,
          "long_term_debt": 15346000,
          "total_debt": 17414000,
          "total_liabilities": 31251000,
          "total_equity": 98869000,
          "shares_outstanding": 14221991,
          "goodwill_and_intangibles": null
        },
        "cash_flow": {
          "operating_cash_flow": -28977000,
          "capital_expenditure": 642000,
          "free_cash_flow": -28335000,
          "dividends_paid": null,
          "share_repurchases": null,
          "shares_issued": 105384000,
          "net_debt_issued": null
        }
      },
      {
        "period_end_date": "2025-12-31",
        "period_type": "annual",
        "fiscal_year": 2025,
        "fiscal_quarter": null,
        "currency_reported": "USD",
        "is_restated": false,
        "income_statement": {
          "revenue": 50511000,
          "cost_of_revenue": 12471000,
          "gross_profit": 38040000,
          "ebit": -28788000,
          "ebitda": -28507000,
          "pretax_income": -30218000,
          "tax_provision": null,
          "net_income": -30218000,
          "net_income_to_common": -30218000,
          "eps_basic": null,
          "eps_diluted": null,
          "shares_basic": null,
          "shares_diluted": null
        },
        "balance_sheet": {
          "cash_and_equivalents": 85793000,
          "total_current_assets": 126673000,
          "total_assets": 130120000,
          "short_term_debt": 752000,
          "long_term_debt": 15346000,
          "total_debt": 17414000,
          "total_liabilities": 31251000,
          "total_equity": 98869000,
          "shares_outstanding": 14221991,
          "goodwill_and_intangibles": null
        },
        "cash_flow": {
          "operating_cash_flow": -28977000,
          "capital_expenditure": 642000,
          "free_cash_flow": -28335000,
          "dividends_paid": null,
          "share_repurchases": null,
          "shares_issued": 105384000,
          "net_debt_issued": null
        }
      },
      {
        "period_end_date": "2024-12-31",
        "period_type": "annual",
        "fiscal_year": 2024,
        "fiscal_quarter": null,
        "currency_reported": "USD",
        "is_restated": false,
        "income_statement": {
          "revenue": 27165000,
          "cost_of_revenue": 7117000,
          "gross_profit": 20048000,
          "ebit": -22936000,
          "ebitda": -22791000,
          "pretax_income": -24257000,
          "tax_provision": null,
          "net_income": -24257000,
          "net_income_to_common": -24257000,
          "eps_basic": null,
          "eps_diluted": null,
          "shares_basic": null,
          "shares_diluted": null
        },
        "balance_sheet": {
          "cash_and_equivalents": 40125000,
          "total_current_assets": 49351000,
          "total_assets": 51824000,
          "short_term_debt": 449000,
          "long_term_debt": 15414000,
          "total_debt": 17180000,
          "total_liabilities": 122454000,
          "total_equity": -70630000,
          "shares_outstanding": 16561707,
          "goodwill_and_intangibles": null
        },
        "cash_flow": {
          "operating_cash_flow": -25466000,
          "capital_expenditure": 180000,
          "free_cash_flow": -25286000,
          "dividends_paid": null,
          "share_repurchases": null,
          "shares_issued": 52255000,
          "net_debt_issued": null
        }
      }
    ],
    "quarterly": [
      {
        "period_end_date": "2026-03-31",
        "period_type": "quarterly",
        "fiscal_year": 2026,
        "fiscal_quarter": 1,
        "currency_reported": "USD",
        "is_restated": false,
        "income_statement": {
          "revenue": 16116000,
          "cost_of_revenue": 3691000,
          "gross_profit": 12425000,
          "ebit": -8385000,
          "ebitda": -8286000,
          "pretax_income": -8696000,
          "tax_provision": null,
          "net_income": -8696000,
          "net_income_to_common": -8696000,
          "eps_basic": null,
          "eps_diluted": null,
          "shares_basic": null,
          "shares_diluted": null
        },
        "balance_sheet": {
          "cash_and_equivalents": 73016000,
          "total_current_assets": 115406000,
          "total_assets": 118769000,
          "short_term_debt": 776000,
          "long_term_debt": 15364000,
          "total_debt": 17255000,
          "total_liabilities": 26521000,
          "total_equity": 92248000,
          "shares_outstanding": 26835841,
          "goodwill_and_intangibles": null
        },
        "cash_flow": {
          "operating_cash_flow": -13007000,
          "capital_expenditure": 79000,
          "free_cash_flow": -12928000,
          "dividends_paid": null,
          "share_repurchases": null,
          "shares_issued": 0,
          "net_debt_issued": null
        }
      },
      {
        "period_end_date": "2026-03-31",
        "period_type": "quarterly",
        "fiscal_year": 2026,
        "fiscal_quarter": 1,
        "currency_reported": "USD",
        "is_restated": false,
        "income_statement": {
          "revenue": 16116000,
          "cost_of_revenue": 3691000,
          "gross_profit": 12425000,
          "ebit": -8385000,
          "ebitda": -8286000,
          "pretax_income": -8696000,
          "tax_provision": null,
          "net_income": -8696000,
          "net_income_to_common": -8696000,
          "eps_basic": null,
          "eps_diluted": null,
          "shares_basic": null,
          "shares_diluted": null
        },
        "balance_sheet": {
          "cash_and_equivalents": 73016000,
          "total_current_assets": 115406000,
          "total_assets": 118769000,
          "short_term_debt": 776000,
          "long_term_debt": 15364000,
          "total_debt": 17255000,
          "total_liabilities": 26521000,
          "total_equity": 92248000,
          "shares_outstanding": 26835841,
          "goodwill_and_intangibles": null
        },
        "cash_flow": {
          "operating_cash_flow": -13007000,
          "capital_expenditure": 79000,
          "free_cash_flow": -12928000,
          "dividends_paid": null,
          "share_repurchases": null,
          "shares_issued": 0,
          "net_debt_issued": null
        }
      },
      {
        "period_end_date": "2026-03-31",
        "period_type": "quarterly",
        "fiscal_year": 2026,
        "fiscal_quarter": 1,
        "currency_reported": "USD",
        "is_restated": false,
        "income_statement": {
          "revenue": 16116000,
          "cost_of_revenue": 3691000,
          "gross_profit": 12425000,
          "ebit": -8385000,
          "ebitda": -8286000,
          "pretax_income": -8696000,
          "tax_provision": null,
          "net_income": -8696000,
          "net_income_to_common": -8696000,
          "eps_basic": null,
          "eps_diluted": null,
          "shares_basic": null,
          "shares_diluted": null
        },
        "balance_sheet": {
          "cash_and_equivalents": 73016000,
          "total_current_assets": 115406000,
          "total_assets": 118769000,
          "short_term_debt": 776000,
          "long_term_debt": 15364000,
          "total_debt": 17255000,
          "total_liabilities": 26521000,
          "total_equity": 92248000,
          "shares_outstanding": 26835841,
          "goodwill_and_intangibles": null
        },
        "cash_flow": {
          "operating_cash_flow": -13007000,
          "capital_expenditure": 79000,
          "free_cash_flow": -12928000,
          "dividends_paid": null,
          "share_repurchases": null,
          "shares_issued": 0,
          "net_debt_issued": null
        }
      },
      {
        "period_end_date": "2026-03-31",
        "period_type": "quarterly",
        "fiscal_year": 2026,
        "fiscal_quarter": 1,
        "currency_reported": "USD",
        "is_restated": false,
        "income_statement": {
          "revenue": 16116000,
          "cost_of_revenue": 3691000,
          "gross_profit": 12425000,
          "ebit": -9276000,
          "ebitda": -9177000,
          "pretax_income": -8696000,
          "tax_provision": null,
          "net_income": -8696000,
          "net_income_to_common": -8696000,
          "eps_basic": null,
          "eps_diluted": null,
          "shares_basic": null,
          "shares_diluted": null
        },
        "balance_sheet": {
          "cash_and_equivalents": 73016000,
          "total_current_assets": 115406000,
          "total_assets": 118769000,
          "short_term_debt": 776000,
          "long_term_debt": 15364000,
          "total_debt": 17255000,
          "total_liabilities": 26521000,
          "total_equity": 92248000,
          "shares_outstanding": 26835841,
          "goodwill_and_intangibles": null
        },
        "cash_flow": {
          "operating_cash_flow": -13007000,
          "capital_expenditure": 79000,
          "free_cash_flow": -12928000,
          "dividends_paid": null,
          "share_repurchases": null,
          "shares_issued": 0,
          "net_debt_issued": null
        }
      },
      {
        "period_end_date": "2026-03-31",
        "period_type": "quarterly",
        "fiscal_year": 2026,
        "fiscal_quarter": 1,
        "currency_reported": "USD",
        "is_restated": false,
        "income_statement": {
          "revenue": 16116000,
          "cost_of_revenue": 3691000,
          "gross_profit": 12425000,
          "ebit": 0,
          "ebitda": 99000,
          "pretax_income": -8696000,
          "tax_provision": null,
          "net_income": -8696000,
          "net_income_to_common": -8696000,
          "eps_basic": null,
          "eps_diluted": null,
          "shares_basic": null,
          "shares_diluted": null
        },
        "balance_sheet": {
          "cash_and_equivalents": 73016000,
          "total_current_assets": 115406000,
          "total_assets": 118769000,
          "short_term_debt": 776000,
          "long_term_debt": 15364000,
          "total_debt": 17255000,
          "total_liabilities": 26521000,
          "total_equity": 92248000,
          "shares_outstanding": 26835841,
          "goodwill_and_intangibles": null
        },
        "cash_flow": {
          "operating_cash_flow": -13007000,
          "capital_expenditure": 79000,
          "free_cash_flow": -12928000,
          "dividends_paid": null,
          "share_repurchases": null,
          "shares_issued": 0,
          "net_debt_issued": null
        }
      },
      {
        "period_end_date": "2026-03-31",
        "period_type": "quarterly",
        "fiscal_year": 2026,
        "fiscal_quarter": 1,
        "currency_reported": "USD",
        "is_restated": false,
        "income_statement": {
          "revenue": 16116000,
          "cost_of_revenue": 3691000,
          "gross_profit": 12425000,
          "ebit": 0,
          "ebitda": 99000,
          "pretax_income": -8696000,
          "tax_provision": null,
          "net_income": -8696000,
          "net_income_to_common": -8696000,
          "eps_basic": null,
          "eps_diluted": null,
          "shares_basic": null,
          "shares_diluted": null
        },
        "balance_sheet": {
          "cash_and_equivalents": 73016000,
          "total_current_assets": 115406000,
          "total_assets": 118769000,
          "short_term_debt": 776000,
          "long_term_debt": 15364000,
          "total_debt": 17255000,
          "total_liabilities": 26521000,
          "total_equity": 92248000,
          "shares_outstanding": 26835841,
          "goodwill_and_intangibles": null
        },
        "cash_flow": {
          "operating_cash_flow": -13007000,
          "capital_expenditure": 79000,
          "free_cash_flow": -12928000,
          "dividends_paid": null,
          "share_repurchases": null,
          "shares_issued": 0,
          "net_debt_issued": null
        }
      },
      {
        "period_end_date": "2026-03-31",
        "period_type": "quarterly",
        "fiscal_year": 2026,
        "fiscal_quarter": 1,
        "currency_reported": "USD",
        "is_restated": false,
        "income_statement": {
          "revenue": 16116000,
          "cost_of_revenue": 3691000,
          "gross_profit": 12425000,
          "ebit": -9276000,
          "ebitda": -9276000,
          "pretax_income": -8696000,
          "tax_provision": null,
          "net_income": -8696000,
          "net_income_to_common": -8696000,
          "eps_basic": null,
          "eps_diluted": null,
          "shares_basic": null,
          "shares_diluted": null
        },
        "balance_sheet": {
          "cash_and_equivalents": 73016000,
          "total_current_assets": 115406000,
          "total_assets": 118769000,
          "short_term_debt": 776000,
          "long_term_debt": 15364000,
          "total_debt": 17255000,
          "total_liabilities": 26521000,
          "total_equity": 92248000,
          "shares_outstanding": 26835841,
          "goodwill_and_intangibles": null
        },
        "cash_flow": {
          "operating_cash_flow": -13007000,
          "capital_expenditure": 79000,
          "free_cash_flow": -12928000,
          "dividends_paid": null,
          "share_repurchases": null,
          "shares_issued": 0,
          "net_debt_issued": null
        }
      },
      {
        "period_end_date": "2025-12-31",
        "period_type": "quarterly",
        "fiscal_year": 2025,
        "fiscal_quarter": 4,
        "currency_reported": "USD",
        "is_restated": false,
        "income_statement": {
          "revenue": 15165000,
          "cost_of_revenue": 3557000,
          "gross_profit": 11608000,
          "ebit": -14239000,
          "ebitda": -14141000,
          "pretax_income": -14926000,
          "tax_provision": null,
          "net_income": -9197000,
          "net_income_to_common": -9197000,
          "eps_basic": null,
          "eps_diluted": null,
          "shares_basic": null,
          "shares_diluted": null
        },
        "balance_sheet": {
          "cash_and_equivalents": 85793000,
          "total_current_assets": 126673000,
          "total_assets": 130120000,
          "short_term_debt": 752000,
          "long_term_debt": 15346000,
          "total_debt": 17414000,
          "total_liabilities": 31251000,
          "total_equity": 98869000,
          "shares_outstanding": 14221991,
          "goodwill_and_intangibles": null
        },
        "cash_flow": {
          "operating_cash_flow": -5321000,
          "capital_expenditure": 485000,
          "free_cash_flow": -4836000,
          "dividends_paid": null,
          "share_repurchases": null,
          "shares_issued": 0,
          "net_debt_issued": null
        }
      },
      {
        "period_end_date": "2025-12-31",
        "period_type": "quarterly",
        "fiscal_year": 2025,
        "fiscal_quarter": 4,
        "currency_reported": "USD",
        "is_restated": false,
        "income_statement": {
          "revenue": 15165000,
          "cost_of_revenue": 3557000,
          "gross_profit": 11608000,
          "ebit": -14239000,
          "ebitda": -14141000,
          "pretax_income": -14926000,
          "tax_provision": null,
          "net_income": -9197000,
          "net_income_to_common": -9197000,
          "eps_basic": null,
          "eps_diluted": null,
          "shares_basic": null,
          "shares_diluted": null
        },
        "balance_sheet": {
          "cash_and_equivalents": 85793000,
          "total_current_assets": 126673000,
          "total_assets": 130120000,
          "short_term_debt": 752000,
          "long_term_debt": 15346000,
          "total_debt": 17414000,
          "total_liabilities": 31251000,
          "total_equity": 98869000,
          "shares_outstanding": 14221991,
          "goodwill_and_intangibles": null
        },
        "cash_flow": {
          "operating_cash_flow": -5321000,
          "capital_expenditure": 485000,
          "free_cash_flow": -4836000,
          "dividends_paid": null,
          "share_repurchases": null,
          "shares_issued": 0,
          "net_debt_issued": null
        }
      },
      {
        "period_end_date": "2025-12-31",
        "period_type": "quarterly",
        "fiscal_year": 2025,
        "fiscal_quarter": 4,
        "currency_reported": "USD",
        "is_restated": false,
        "income_statement": {
          "revenue": 15165000,
          "cost_of_revenue": 3557000,
          "gross_profit": 11608000,
          "ebit": -14239000,
          "ebitda": -14141000,
          "pretax_income": -14926000,
          "tax_provision": null,
          "net_income": -9197000,
          "net_income_to_common": -9197000,
          "eps_basic": null,
          "eps_diluted": null,
          "shares_basic": null,
          "shares_diluted": null
        },
        "balance_sheet": {
          "cash_and_equivalents": 85793000,
          "total_current_assets": 126673000,
          "total_assets": 130120000,
          "short_term_debt": 752000,
          "long_term_debt": 15346000,
          "total_debt": 17414000,
          "total_liabilities": 31251000,
          "total_equity": 98869000,
          "shares_outstanding": 14221991,
          "goodwill_and_intangibles": null
        },
        "cash_flow": {
          "operating_cash_flow": -5321000,
          "capital_expenditure": 485000,
          "free_cash_flow": -4836000,
          "dividends_paid": null,
          "share_repurchases": null,
          "shares_issued": 0,
          "net_debt_issued": null
        }
      },
      {
        "period_end_date": "2025-12-31",
        "period_type": "quarterly",
        "fiscal_year": 2025,
        "fiscal_quarter": 4,
        "currency_reported": "USD",
        "is_restated": false,
        "income_statement": {
          "revenue": 15165000,
          "cost_of_revenue": 3557000,
          "gross_profit": 11608000,
          "ebit": -14239000,
          "ebitda": -14141000,
          "pretax_income": -14926000,
          "tax_provision": null,
          "net_income": -9197000,
          "net_income_to_common": -9197000,
          "eps_basic": null,
          "eps_diluted": null,
          "shares_basic": null,
          "shares_diluted": null
        },
        "balance_sheet": {
          "cash_and_equivalents": 85793000,
          "total_current_assets": 126673000,
          "total_assets": 130120000,
          "short_term_debt": 752000,
          "long_term_debt": 15346000,
          "total_debt": 17414000,
          "total_liabilities": 31251000,
          "total_equity": 98869000,
          "shares_outstanding": 14221991,
          "goodwill_and_intangibles": null
        },
        "cash_flow": {
          "operating_cash_flow": -5321000,
          "capital_expenditure": 485000,
          "free_cash_flow": -4836000,
          "dividends_paid": null,
          "share_repurchases": null,
          "shares_issued": 0,
          "net_debt_issued": null
        }
      },
      {
        "period_end_date": "2025-12-31",
        "period_type": "quarterly",
        "fiscal_year": 2025,
        "fiscal_quarter": 4,
        "currency_reported": "USD",
        "is_restated": false,
        "income_statement": {
          "revenue": 15165000,
          "cost_of_revenue": 3557000,
          "gross_profit": 11608000,
          "ebit": -14239000,
          "ebitda": -14141000,
          "pretax_income": -14926000,
          "tax_provision": null,
          "net_income": -9197000,
          "net_income_to_common": -9197000,
          "eps_basic": null,
          "eps_diluted": null,
          "shares_basic": null,
          "shares_diluted": null
        },
        "balance_sheet": {
          "cash_and_equivalents": 85793000,
          "total_current_assets": 126673000,
          "total_assets": 130120000,
          "short_term_debt": 752000,
          "long_term_debt": 15346000,
          "total_debt": 17414000,
          "total_liabilities": 31251000,
          "total_equity": 98869000,
          "shares_outstanding": 14221991,
          "goodwill_and_intangibles": null
        },
        "cash_flow": {
          "operating_cash_flow": -5321000,
          "capital_expenditure": 485000,
          "free_cash_flow": -4836000,
          "dividends_paid": null,
          "share_repurchases": null,
          "shares_issued": 0,
          "net_debt_issued": null
        }
      }
    ]
  },
  "strategy_matches": [
    {
      "key": "sector_relative",
      "name": "Cheapest in Sector",
      "slug": "sector-relative",
      "group": "value",
      "page_url": "/factors/sector-relative/"
    },
    {
      "key": "risk_adj_momentum",
      "name": "Risk-Adjusted Momentum",
      "slug": "risk-adj-momentum",
      "group": "momentum",
      "page_url": "/factors/risk-adj-momentum/"
    },
    {
      "key": "shareholder_yield",
      "name": "Shareholder Yield",
      "slug": "shareholder-yield",
      "group": "income",
      "page_url": "/factors/shareholder-yield/"
    }
  ],
  "coverage": {
    "factor_history_points": 8,
    "annual_financial_periods": 8,
    "quarterly_financial_periods": 12,
    "latest_factor_week": "2026-07-26",
    "latest_financials_period_end": "2025-12-31"
  },
  "schema": {
    "public_fields_only": true
  }
}