{
  "ticker": {
    "uuid": "bb7fb228-e26f-466c-8bb7-8bb4b1111a35",
    "symbol": "M44",
    "name": "MARA Holdings, Inc.",
    "exchange": "GER",
    "exchange_name": "XETRA",
    "country": "DE",
    "currency": "EUR",
    "sector": "Financial Services",
    "industry": "Capital Markets",
    "page_url": "https://sharemaestro.com/factors/ticker/bb7fb228-e26f-466c-8bb7-8bb4b1111a35/",
    "api_url": "https://sharemaestro.com/factors/api/tickers/bb7fb228-e26f-466c-8bb7-8bb4b1111a35/"
  },
  "latest_snapshot": {
    "ticker": {
      "uuid": "bb7fb228-e26f-466c-8bb7-8bb4b1111a35",
      "symbol": "M44",
      "name": "MARA Holdings, Inc.",
      "exchange": "GER",
      "exchange_name": "XETRA",
      "country": "DE",
      "currency": "EUR",
      "sector": "Financial Services",
      "industry": "Capital Markets",
      "page_url": "https://sharemaestro.com/factors/ticker/bb7fb228-e26f-466c-8bb7-8bb4b1111a35/",
      "api_url": "https://sharemaestro.com/factors/api/tickers/bb7fb228-e26f-466c-8bb7-8bb4b1111a35/"
    },
    "week_end_date": "2026-08-09",
    "universe": "EUR_DE",
    "score": {
      "os": 0.04,
      "value": 0.34,
      "quality": 0.1,
      "momentum": 0.13,
      "coverage": 0.758,
      "confidence": 0.709,
      "delta": 0.01
    },
    "headline_factors": {
      "price": 8.82,
      "market_cap": 3405614602.35,
      "pe_ratio": null,
      "earnings_yield": null,
      "ebitda_to_ev": null,
      "shareholder_yield": -0.1669,
      "roe": -0.9129,
      "piotroski_f_score": 2,
      "momentum_12_1": -0.1408,
      "volatility_252d": 0.8438
    },
    "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": false
    },
    "factor_groups": {
      "valuation": {
        "pe_ratio": null,
        "ev_ebitda": null,
        "earnings_yield": null,
        "fcf_yield": -0.2351,
        "shareholder_yield": -0.1669
      },
      "quality": {
        "roe": -0.9129,
        "roic": -0.1626,
        "gross_margin": 0.7922,
        "fcf_margin": -1.4784,
        "piotroski_f_score": 2
      },
      "growth": {
        "revenue_growth_1y": 0.382,
        "eps_growth_1y": null,
        "fcf_growth_1y": null
      },
      "momentum": {
        "price_return_12m": -0.3277,
        "momentum_12_1": -0.1408,
        "relative_strength": -0.417
      },
      "scores": {
        "value_percentile": 0.34,
        "quality_percentile": 0.1,
        "momentum_percentile": 0.13,
        "growth_composite": 16,
        "yield_composite": 95,
        "overall_composite": 96,
        "os_score": 0.04,
        "factor_coverage": 0.758,
        "signal_confidence": 0.709
      }
    }
  },
  "factor_history": [
    {
      "week_end_date": "2026-06-07",
      "price": 10.67,
      "os": 0.03,
      "value": 0.31,
      "quality": 0.1,
      "momentum": 0.14,
      "confidence": 0.788,
      "coverage": 0.788,
      "pe_ratio": null,
      "earnings_yield": null,
      "shareholder_yield": -0.1398,
      "roe": -0.9129,
      "momentum_12_1": -0.2422
    },
    {
      "week_end_date": "2026-06-14",
      "price": 12.31,
      "os": 0.04,
      "value": 0.29,
      "quality": 0.1,
      "momentum": 0.25,
      "confidence": 0.788,
      "coverage": 0.788,
      "pe_ratio": null,
      "earnings_yield": null,
      "shareholder_yield": -0.1212,
      "roe": -0.9129,
      "momentum_12_1": -0.1933
    },
    {
      "week_end_date": "2026-06-21",
      "price": 12.33,
      "os": 0.06,
      "value": 0.29,
      "quality": 0.1,
      "momentum": 0.33,
      "confidence": 0.788,
      "coverage": 0.788,
      "pe_ratio": null,
      "earnings_yield": null,
      "shareholder_yield": -0.1209,
      "roe": -0.9129,
      "momentum_12_1": -0.0371
    },
    {
      "week_end_date": "2026-06-28",
      "price": 12.5,
      "os": 0.05,
      "value": 0.29,
      "quality": 0.1,
      "momentum": 0.31,
      "confidence": 0.788,
      "coverage": 0.788,
      "pe_ratio": null,
      "earnings_yield": null,
      "shareholder_yield": -0.1193,
      "roe": -0.9129,
      "momentum_12_1": -0.061
    },
    {
      "week_end_date": "2026-07-05",
      "price": 11.11,
      "os": 0.02,
      "value": 0.3,
      "quality": 0.1,
      "momentum": 0.1,
      "confidence": 0.781,
      "coverage": 0.788,
      "pe_ratio": null,
      "earnings_yield": null,
      "shareholder_yield": -0.1342,
      "roe": -0.9129,
      "momentum_12_1": -0.2932
    },
    {
      "week_end_date": "2026-07-12",
      "price": 11.27,
      "os": 0.02,
      "value": 0.3,
      "quality": 0.1,
      "momentum": 0.09,
      "confidence": 0.772,
      "coverage": 0.788,
      "pe_ratio": null,
      "earnings_yield": null,
      "shareholder_yield": -0.1323,
      "roe": -0.9129,
      "momentum_12_1": -0.2635
    },
    {
      "week_end_date": "2026-07-19",
      "price": 9.27,
      "os": 0.03,
      "value": 0.33,
      "quality": 0.1,
      "momentum": 0.06,
      "confidence": 0.764,
      "coverage": 0.788,
      "pe_ratio": null,
      "earnings_yield": null,
      "shareholder_yield": -0.1608,
      "roe": -0.9129,
      "momentum_12_1": -0.2769
    },
    {
      "week_end_date": "2026-07-26",
      "price": 11.06,
      "os": 0.04,
      "value": 0.3,
      "quality": 0.1,
      "momentum": 0.18,
      "confidence": 0.755,
      "coverage": 0.788,
      "pe_ratio": null,
      "earnings_yield": null,
      "shareholder_yield": -0.1349,
      "roe": -0.9129,
      "momentum_12_1": -0.1369
    },
    {
      "week_end_date": "2026-08-02",
      "price": 9.96,
      "os": 0.03,
      "value": 0.31,
      "quality": 0.09,
      "momentum": 0.12,
      "confidence": 0.746,
      "coverage": 0.788,
      "pe_ratio": null,
      "earnings_yield": null,
      "shareholder_yield": -0.1498,
      "roe": -0.9129,
      "momentum_12_1": -0.1792
    },
    {
      "week_end_date": "2026-08-09",
      "price": 8.82,
      "os": 0.04,
      "value": 0.34,
      "quality": 0.1,
      "momentum": 0.13,
      "confidence": 0.709,
      "coverage": 0.758,
      "pe_ratio": null,
      "earnings_yield": null,
      "shareholder_yield": -0.1669,
      "roe": -0.9129,
      "momentum_12_1": -0.1408
    }
  ],
  "financial_periods": {
    "annual": [
      {
        "period_end_date": "2025-12-31",
        "period_type": "annual",
        "fiscal_year": 2025,
        "fiscal_quarter": null,
        "currency_reported": "EUR",
        "is_restated": false,
        "income_statement": {
          "revenue": 907093000,
          "cost_of_revenue": 179041000,
          "gross_profit": 728052000,
          "ebit": -822169000,
          "ebitda": -547119000,
          "pretax_income": null,
          "tax_provision": null,
          "net_income": -1311480000,
          "net_income_to_common": -1311480000,
          "eps_basic": null,
          "eps_diluted": null,
          "shares_basic": null,
          "shares_diluted": null
        },
        "balance_sheet": {
          "cash_and_equivalents": 547132000,
          "total_current_assets": 664268000,
          "total_assets": 7286899000,
          "short_term_debt": 397845000,
          "long_term_debt": 3202082000,
          "total_debt": 3645353000,
          "total_liabilities": null,
          "total_equity": 3471720000,
          "shares_outstanding": 379464892,
          "goodwill_and_intangibles": null
        },
        "cash_flow": {
          "operating_cash_flow": -802725000,
          "capital_expenditure": -407071000,
          "free_cash_flow": -1209796000,
          "dividends_paid": null,
          "share_repurchases": 0,
          "shares_issued": 568563000,
          "net_debt_issued": 1145575000
        }
      },
      {
        "period_end_date": "2025-12-31",
        "period_type": "annual",
        "fiscal_year": 2025,
        "fiscal_quarter": null,
        "currency_reported": "EUR",
        "is_restated": false,
        "income_statement": {
          "revenue": 907093000,
          "cost_of_revenue": 179041000,
          "gross_profit": 728052000,
          "ebit": -822169000,
          "ebitda": -547119000,
          "pretax_income": null,
          "tax_provision": null,
          "net_income": -1311480000,
          "net_income_to_common": -1311480000,
          "eps_basic": null,
          "eps_diluted": null,
          "shares_basic": null,
          "shares_diluted": null
        },
        "balance_sheet": {
          "cash_and_equivalents": 547132000,
          "total_current_assets": 664268000,
          "total_assets": 7286899000,
          "short_term_debt": 397845000,
          "long_term_debt": 3202082000,
          "total_debt": 3645353000,
          "total_liabilities": null,
          "total_equity": 3471720000,
          "shares_outstanding": 379464892,
          "goodwill_and_intangibles": null
        },
        "cash_flow": {
          "operating_cash_flow": -802725000,
          "capital_expenditure": -407071000,
          "free_cash_flow": -1209796000,
          "dividends_paid": null,
          "share_repurchases": 0,
          "shares_issued": 568563000,
          "net_debt_issued": 1145575000
        }
      },
      {
        "period_end_date": "2025-12-31",
        "period_type": "annual",
        "fiscal_year": 2025,
        "fiscal_quarter": null,
        "currency_reported": "EUR",
        "is_restated": false,
        "income_statement": {
          "revenue": 907093000,
          "cost_of_revenue": 179041000,
          "gross_profit": 728052000,
          "ebit": -822169000,
          "ebitda": -547119000,
          "pretax_income": null,
          "tax_provision": null,
          "net_income": -1311480000,
          "net_income_to_common": -1311480000,
          "eps_basic": null,
          "eps_diluted": null,
          "shares_basic": null,
          "shares_diluted": null
        },
        "balance_sheet": {
          "cash_and_equivalents": 547132000,
          "total_current_assets": 664268000,
          "total_assets": 7286899000,
          "short_term_debt": 397845000,
          "long_term_debt": 3202082000,
          "total_debt": 3645353000,
          "total_liabilities": null,
          "total_equity": 3471720000,
          "shares_outstanding": 379464892,
          "goodwill_and_intangibles": null
        },
        "cash_flow": {
          "operating_cash_flow": -802725000,
          "capital_expenditure": -407071000,
          "free_cash_flow": -1209796000,
          "dividends_paid": null,
          "share_repurchases": 0,
          "shares_issued": 568563000,
          "net_debt_issued": 1145575000
        }
      },
      {
        "period_end_date": "2025-12-31",
        "period_type": "annual",
        "fiscal_year": 2025,
        "fiscal_quarter": null,
        "currency_reported": "EUR",
        "is_restated": false,
        "income_statement": {
          "revenue": 907093000,
          "cost_of_revenue": 179041000,
          "gross_profit": 728052000,
          "ebit": -822169000,
          "ebitda": -547119000,
          "pretax_income": null,
          "tax_provision": null,
          "net_income": -1311480000,
          "net_income_to_common": -1311480000,
          "eps_basic": null,
          "eps_diluted": null,
          "shares_basic": null,
          "shares_diluted": null
        },
        "balance_sheet": {
          "cash_and_equivalents": 547132000,
          "total_current_assets": 664268000,
          "total_assets": 7286899000,
          "short_term_debt": 397845000,
          "long_term_debt": 3202082000,
          "total_debt": 3645353000,
          "total_liabilities": null,
          "total_equity": 3471720000,
          "shares_outstanding": 379464892,
          "goodwill_and_intangibles": null
        },
        "cash_flow": {
          "operating_cash_flow": -802725000,
          "capital_expenditure": -407071000,
          "free_cash_flow": -1209796000,
          "dividends_paid": null,
          "share_repurchases": 0,
          "shares_issued": 568563000,
          "net_debt_issued": 1145575000
        }
      },
      {
        "period_end_date": "2025-12-31",
        "period_type": "annual",
        "fiscal_year": 2025,
        "fiscal_quarter": null,
        "currency_reported": "EUR",
        "is_restated": false,
        "income_statement": {
          "revenue": 907093000,
          "cost_of_revenue": 179041000,
          "gross_profit": 728052000,
          "ebit": -822169000,
          "ebitda": -547119000,
          "pretax_income": null,
          "tax_provision": null,
          "net_income": -1311480000,
          "net_income_to_common": -1311480000,
          "eps_basic": null,
          "eps_diluted": null,
          "shares_basic": null,
          "shares_diluted": null
        },
        "balance_sheet": {
          "cash_and_equivalents": 547132000,
          "total_current_assets": 664268000,
          "total_assets": 7286899000,
          "short_term_debt": 397845000,
          "long_term_debt": 3202082000,
          "total_debt": 3645353000,
          "total_liabilities": null,
          "total_equity": 3471720000,
          "shares_outstanding": 379464892,
          "goodwill_and_intangibles": null
        },
        "cash_flow": {
          "operating_cash_flow": -802725000,
          "capital_expenditure": -407071000,
          "free_cash_flow": -1209796000,
          "dividends_paid": null,
          "share_repurchases": 0,
          "shares_issued": 568563000,
          "net_debt_issued": 1145575000
        }
      },
      {
        "period_end_date": "2025-12-31",
        "period_type": "annual",
        "fiscal_year": 2025,
        "fiscal_quarter": null,
        "currency_reported": "EUR",
        "is_restated": false,
        "income_statement": {
          "revenue": 907093000,
          "cost_of_revenue": 179041000,
          "gross_profit": 728052000,
          "ebit": -822169000,
          "ebitda": -547119000,
          "pretax_income": null,
          "tax_provision": null,
          "net_income": -1311480000,
          "net_income_to_common": -1311480000,
          "eps_basic": null,
          "eps_diluted": null,
          "shares_basic": null,
          "shares_diluted": null
        },
        "balance_sheet": {
          "cash_and_equivalents": 547132000,
          "total_current_assets": 664268000,
          "total_assets": 7286899000,
          "short_term_debt": 397845000,
          "long_term_debt": 3202082000,
          "total_debt": 3645353000,
          "total_liabilities": null,
          "total_equity": 3471720000,
          "shares_outstanding": 379464892,
          "goodwill_and_intangibles": null
        },
        "cash_flow": {
          "operating_cash_flow": -802725000,
          "capital_expenditure": -407071000,
          "free_cash_flow": -1209796000,
          "dividends_paid": null,
          "share_repurchases": 0,
          "shares_issued": 568563000,
          "net_debt_issued": 1145575000
        }
      },
      {
        "period_end_date": "2025-12-31",
        "period_type": "annual",
        "fiscal_year": 2025,
        "fiscal_quarter": null,
        "currency_reported": "EUR",
        "is_restated": false,
        "income_statement": {
          "revenue": 907093000,
          "cost_of_revenue": 179041000,
          "gross_profit": 728052000,
          "ebit": -822169000,
          "ebitda": -547119000,
          "pretax_income": null,
          "tax_provision": null,
          "net_income": -1311480000,
          "net_income_to_common": -1311480000,
          "eps_basic": null,
          "eps_diluted": null,
          "shares_basic": null,
          "shares_diluted": null
        },
        "balance_sheet": {
          "cash_and_equivalents": 547132000,
          "total_current_assets": 664268000,
          "total_assets": 7286899000,
          "short_term_debt": 397845000,
          "long_term_debt": 3202082000,
          "total_debt": 3645353000,
          "total_liabilities": null,
          "total_equity": 3471720000,
          "shares_outstanding": 379464892,
          "goodwill_and_intangibles": null
        },
        "cash_flow": {
          "operating_cash_flow": -802725000,
          "capital_expenditure": -407071000,
          "free_cash_flow": -1209796000,
          "dividends_paid": null,
          "share_repurchases": 0,
          "shares_issued": 568563000,
          "net_debt_issued": 1145575000
        }
      },
      {
        "period_end_date": "2025-12-31",
        "period_type": "annual",
        "fiscal_year": 2025,
        "fiscal_quarter": null,
        "currency_reported": "EUR",
        "is_restated": false,
        "income_statement": {
          "revenue": 907093000,
          "cost_of_revenue": 179041000,
          "gross_profit": 728052000,
          "ebit": -822169000,
          "ebitda": -547119000,
          "pretax_income": null,
          "tax_provision": null,
          "net_income": -1311480000,
          "net_income_to_common": -1311480000,
          "eps_basic": null,
          "eps_diluted": null,
          "shares_basic": null,
          "shares_diluted": null
        },
        "balance_sheet": {
          "cash_and_equivalents": 547132000,
          "total_current_assets": 664268000,
          "total_assets": 7286899000,
          "short_term_debt": 397845000,
          "long_term_debt": 3202082000,
          "total_debt": 3645353000,
          "total_liabilities": null,
          "total_equity": 3471720000,
          "shares_outstanding": 379464892,
          "goodwill_and_intangibles": null
        },
        "cash_flow": {
          "operating_cash_flow": -802725000,
          "capital_expenditure": -407071000,
          "free_cash_flow": -1209796000,
          "dividends_paid": null,
          "share_repurchases": 0,
          "shares_issued": 568563000,
          "net_debt_issued": 1145575000
        }
      }
    ],
    "quarterly": [
      {
        "period_end_date": "2026-06-30",
        "period_type": "quarterly",
        "fiscal_year": 2026,
        "fiscal_quarter": 2,
        "currency_reported": "EUR",
        "is_restated": false,
        "income_statement": {
          "revenue": 174881000,
          "cost_of_revenue": 48750000,
          "gross_profit": 126131000,
          "ebit": -267989000,
          "ebitda": -429809000,
          "pretax_income": null,
          "tax_provision": null,
          "net_income": -609685000,
          "net_income_to_common": -609685000,
          "eps_basic": null,
          "eps_diluted": null,
          "shares_basic": null,
          "shares_diluted": null
        },
        "balance_sheet": {
          "cash_and_equivalents": 421274000,
          "total_current_assets": 527192000,
          "total_assets": 4348891000,
          "short_term_debt": 485397000,
          "long_term_debt": 1932352000,
          "total_debt": 2465959000,
          "total_liabilities": null,
          "total_equity": 1660557000,
          "shares_outstanding": 380873087,
          "goodwill_and_intangibles": null
        },
        "cash_flow": {
          "operating_cash_flow": -223768000,
          "capital_expenditure": -14769000,
          "free_cash_flow": -238537000,
          "dividends_paid": null,
          "share_repurchases": null,
          "shares_issued": 0,
          "net_debt_issued": -173000
        }
      },
      {
        "period_end_date": "2026-03-31",
        "period_type": "quarterly",
        "fiscal_year": 2026,
        "fiscal_quarter": 1,
        "currency_reported": "EUR",
        "is_restated": false,
        "income_statement": {
          "revenue": 174614000,
          "cost_of_revenue": 44732000,
          "gross_profit": 129882000,
          "ebit": -258089000,
          "ebitda": -1091053000,
          "pretax_income": null,
          "tax_provision": null,
          "net_income": -1259619000,
          "net_income_to_common": -1259619000,
          "eps_basic": null,
          "eps_diluted": null,
          "shares_basic": null,
          "shares_diluted": null
        },
        "balance_sheet": {
          "cash_and_equivalents": 513653000,
          "total_current_assets": 611108000,
          "total_assets": 4949269000,
          "short_term_debt": 197908000,
          "long_term_debt": 2218261000,
          "total_debt": 2463960000,
          "total_liabilities": null,
          "total_equity": 2231975000,
          "shares_outstanding": 380873087,
          "goodwill_and_intangibles": null
        },
        "cash_flow": {
          "operating_cash_flow": -247489000,
          "capital_expenditure": -80058000,
          "free_cash_flow": -327547000,
          "dividends_paid": null,
          "share_repurchases": null,
          "shares_issued": 0,
          "net_debt_issued": -1112774000
        }
      },
      {
        "period_end_date": "2026-03-31",
        "period_type": "quarterly",
        "fiscal_year": 2026,
        "fiscal_quarter": 1,
        "currency_reported": "EUR",
        "is_restated": false,
        "income_statement": {
          "revenue": 174614000,
          "cost_of_revenue": 44732000,
          "gross_profit": 129882000,
          "ebit": -258089000,
          "ebitda": -1091053000,
          "pretax_income": null,
          "tax_provision": null,
          "net_income": -1259619000,
          "net_income_to_common": -1259619000,
          "eps_basic": null,
          "eps_diluted": null,
          "shares_basic": null,
          "shares_diluted": null
        },
        "balance_sheet": {
          "cash_and_equivalents": 513653000,
          "total_current_assets": 611108000,
          "total_assets": 4949269000,
          "short_term_debt": 197908000,
          "long_term_debt": 2218261000,
          "total_debt": 2463960000,
          "total_liabilities": null,
          "total_equity": 2231975000,
          "shares_outstanding": 380873087,
          "goodwill_and_intangibles": null
        },
        "cash_flow": {
          "operating_cash_flow": -247489000,
          "capital_expenditure": -80058000,
          "free_cash_flow": -327547000,
          "dividends_paid": null,
          "share_repurchases": null,
          "shares_issued": 0,
          "net_debt_issued": -1112774000
        }
      },
      {
        "period_end_date": "2026-03-31",
        "period_type": "quarterly",
        "fiscal_year": 2026,
        "fiscal_quarter": 1,
        "currency_reported": "EUR",
        "is_restated": false,
        "income_statement": {
          "revenue": 174614000,
          "cost_of_revenue": 44732000,
          "gross_profit": 129882000,
          "ebit": -258089000,
          "ebitda": -1091053000,
          "pretax_income": null,
          "tax_provision": null,
          "net_income": -1259619000,
          "net_income_to_common": -1259619000,
          "eps_basic": null,
          "eps_diluted": null,
          "shares_basic": null,
          "shares_diluted": null
        },
        "balance_sheet": {
          "cash_and_equivalents": 513653000,
          "total_current_assets": 611108000,
          "total_assets": 4949269000,
          "short_term_debt": 197908000,
          "long_term_debt": 2218261000,
          "total_debt": 2463960000,
          "total_liabilities": null,
          "total_equity": 2231975000,
          "shares_outstanding": 380873087,
          "goodwill_and_intangibles": null
        },
        "cash_flow": {
          "operating_cash_flow": -247489000,
          "capital_expenditure": -80058000,
          "free_cash_flow": -327547000,
          "dividends_paid": null,
          "share_repurchases": null,
          "shares_issued": 0,
          "net_debt_issued": -1112774000
        }
      },
      {
        "period_end_date": "2026-03-31",
        "period_type": "quarterly",
        "fiscal_year": 2026,
        "fiscal_quarter": 1,
        "currency_reported": "EUR",
        "is_restated": false,
        "income_statement": {
          "revenue": 174614000,
          "cost_of_revenue": 44732000,
          "gross_profit": 129882000,
          "ebit": -258089000,
          "ebitda": -1091053000,
          "pretax_income": null,
          "tax_provision": null,
          "net_income": -1259619000,
          "net_income_to_common": -1259619000,
          "eps_basic": null,
          "eps_diluted": null,
          "shares_basic": null,
          "shares_diluted": null
        },
        "balance_sheet": {
          "cash_and_equivalents": 513653000,
          "total_current_assets": 611108000,
          "total_assets": 4949269000,
          "short_term_debt": 197908000,
          "long_term_debt": 2218261000,
          "total_debt": 2463960000,
          "total_liabilities": null,
          "total_equity": 2231975000,
          "shares_outstanding": 380873087,
          "goodwill_and_intangibles": null
        },
        "cash_flow": {
          "operating_cash_flow": -247489000,
          "capital_expenditure": -80058000,
          "free_cash_flow": -327547000,
          "dividends_paid": null,
          "share_repurchases": null,
          "shares_issued": 0,
          "net_debt_issued": -1112774000
        }
      },
      {
        "period_end_date": "2026-03-31",
        "period_type": "quarterly",
        "fiscal_year": 2026,
        "fiscal_quarter": 1,
        "currency_reported": "EUR",
        "is_restated": false,
        "income_statement": {
          "revenue": 174614000,
          "cost_of_revenue": 44732000,
          "gross_profit": 129882000,
          "ebit": -258089000,
          "ebitda": -1091053000,
          "pretax_income": null,
          "tax_provision": null,
          "net_income": -1259619000,
          "net_income_to_common": -1259619000,
          "eps_basic": null,
          "eps_diluted": null,
          "shares_basic": null,
          "shares_diluted": null
        },
        "balance_sheet": {
          "cash_and_equivalents": 513653000,
          "total_current_assets": 611108000,
          "total_assets": 4949269000,
          "short_term_debt": 197908000,
          "long_term_debt": 2218261000,
          "total_debt": 2463960000,
          "total_liabilities": null,
          "total_equity": 2231975000,
          "shares_outstanding": 380873087,
          "goodwill_and_intangibles": null
        },
        "cash_flow": {
          "operating_cash_flow": -247489000,
          "capital_expenditure": -80058000,
          "free_cash_flow": -327547000,
          "dividends_paid": null,
          "share_repurchases": null,
          "shares_issued": 0,
          "net_debt_issued": -1112774000
        }
      },
      {
        "period_end_date": "2026-03-31",
        "period_type": "quarterly",
        "fiscal_year": 2026,
        "fiscal_quarter": 1,
        "currency_reported": "EUR",
        "is_restated": false,
        "income_statement": {
          "revenue": 174614000,
          "cost_of_revenue": 44732000,
          "gross_profit": 129882000,
          "ebit": -258089000,
          "ebitda": -1091053000,
          "pretax_income": null,
          "tax_provision": null,
          "net_income": -1259619000,
          "net_income_to_common": -1259619000,
          "eps_basic": null,
          "eps_diluted": null,
          "shares_basic": null,
          "shares_diluted": null
        },
        "balance_sheet": {
          "cash_and_equivalents": 513653000,
          "total_current_assets": 611108000,
          "total_assets": 4949269000,
          "short_term_debt": 197908000,
          "long_term_debt": 2218261000,
          "total_debt": 2463960000,
          "total_liabilities": null,
          "total_equity": 2231975000,
          "shares_outstanding": 380873087,
          "goodwill_and_intangibles": null
        },
        "cash_flow": {
          "operating_cash_flow": -247489000,
          "capital_expenditure": -80058000,
          "free_cash_flow": -327547000,
          "dividends_paid": null,
          "share_repurchases": null,
          "shares_issued": 0,
          "net_debt_issued": -1112774000
        }
      },
      {
        "period_end_date": "2026-03-31",
        "period_type": "quarterly",
        "fiscal_year": 2026,
        "fiscal_quarter": 1,
        "currency_reported": "EUR",
        "is_restated": false,
        "income_statement": {
          "revenue": 174614000,
          "cost_of_revenue": 44732000,
          "gross_profit": 129882000,
          "ebit": -258089000,
          "ebitda": -1091053000,
          "pretax_income": null,
          "tax_provision": null,
          "net_income": -1259619000,
          "net_income_to_common": -1259619000,
          "eps_basic": null,
          "eps_diluted": null,
          "shares_basic": null,
          "shares_diluted": null
        },
        "balance_sheet": {
          "cash_and_equivalents": 513653000,
          "total_current_assets": 611108000,
          "total_assets": 4949269000,
          "short_term_debt": 197908000,
          "long_term_debt": 2218261000,
          "total_debt": 2463960000,
          "total_liabilities": null,
          "total_equity": 2231975000,
          "shares_outstanding": 380873087,
          "goodwill_and_intangibles": null
        },
        "cash_flow": {
          "operating_cash_flow": -247489000,
          "capital_expenditure": -80058000,
          "free_cash_flow": -327547000,
          "dividends_paid": null,
          "share_repurchases": null,
          "shares_issued": 0,
          "net_debt_issued": -1112774000
        }
      },
      {
        "period_end_date": "2026-03-31",
        "period_type": "quarterly",
        "fiscal_year": 2026,
        "fiscal_quarter": 1,
        "currency_reported": "EUR",
        "is_restated": false,
        "income_statement": {
          "revenue": 174614000,
          "cost_of_revenue": 44732000,
          "gross_profit": 129882000,
          "ebit": -258089000,
          "ebitda": -1091053000,
          "pretax_income": null,
          "tax_provision": null,
          "net_income": -1259619000,
          "net_income_to_common": -1259619000,
          "eps_basic": null,
          "eps_diluted": null,
          "shares_basic": null,
          "shares_diluted": null
        },
        "balance_sheet": {
          "cash_and_equivalents": 513653000,
          "total_current_assets": 611108000,
          "total_assets": 4949269000,
          "short_term_debt": 197908000,
          "long_term_debt": 2218261000,
          "total_debt": 2463960000,
          "total_liabilities": null,
          "total_equity": 2231975000,
          "shares_outstanding": 380873087,
          "goodwill_and_intangibles": null
        },
        "cash_flow": {
          "operating_cash_flow": -247489000,
          "capital_expenditure": -80058000,
          "free_cash_flow": -327547000,
          "dividends_paid": null,
          "share_repurchases": null,
          "shares_issued": 0,
          "net_debt_issued": -1112774000
        }
      },
      {
        "period_end_date": "2026-03-31",
        "period_type": "quarterly",
        "fiscal_year": 2026,
        "fiscal_quarter": 1,
        "currency_reported": "EUR",
        "is_restated": false,
        "income_statement": {
          "revenue": 174614000,
          "cost_of_revenue": 44732000,
          "gross_profit": 129882000,
          "ebit": -258089000,
          "ebitda": -1091053000,
          "pretax_income": null,
          "tax_provision": null,
          "net_income": -1259619000,
          "net_income_to_common": -1259619000,
          "eps_basic": null,
          "eps_diluted": null,
          "shares_basic": null,
          "shares_diluted": null
        },
        "balance_sheet": {
          "cash_and_equivalents": 513653000,
          "total_current_assets": 611108000,
          "total_assets": 4949269000,
          "short_term_debt": 197908000,
          "long_term_debt": 2218261000,
          "total_debt": 2463960000,
          "total_liabilities": null,
          "total_equity": 2231975000,
          "shares_outstanding": 380873087,
          "goodwill_and_intangibles": null
        },
        "cash_flow": {
          "operating_cash_flow": -247489000,
          "capital_expenditure": -80058000,
          "free_cash_flow": -327547000,
          "dividends_paid": null,
          "share_repurchases": null,
          "shares_issued": 0,
          "net_debt_issued": -1112774000
        }
      },
      {
        "period_end_date": "2025-12-31",
        "period_type": "quarterly",
        "fiscal_year": 2025,
        "fiscal_quarter": 4,
        "currency_reported": "EUR",
        "is_restated": false,
        "income_statement": {
          "revenue": 202314000,
          "cost_of_revenue": 50750000,
          "gross_profit": 151564000,
          "ebit": -331810000,
          "ebitda": -1594511000,
          "pretax_income": null,
          "tax_provision": null,
          "net_income": -1709376000,
          "net_income_to_common": -1709376000,
          "eps_basic": null,
          "eps_diluted": null,
          "shares_basic": null,
          "shares_diluted": null
        },
        "balance_sheet": {
          "cash_and_equivalents": 547132000,
          "total_current_assets": 664268000,
          "total_assets": 7286899000,
          "short_term_debt": 397845000,
          "long_term_debt": 3202082000,
          "total_debt": 3645353000,
          "total_liabilities": null,
          "total_equity": 3471720000,
          "shares_outstanding": 379464892,
          "goodwill_and_intangibles": null
        },
        "cash_flow": {
          "operating_cash_flow": -224745000,
          "capital_expenditure": -164472000,
          "free_cash_flow": -389217000,
          "dividends_paid": null,
          "share_repurchases": -3330000,
          "shares_issued": null,
          "net_debt_issued": -786000
        }
      },
      {
        "period_end_date": "2025-12-31",
        "period_type": "quarterly",
        "fiscal_year": 2025,
        "fiscal_quarter": 4,
        "currency_reported": "EUR",
        "is_restated": false,
        "income_statement": {
          "revenue": 202314000,
          "cost_of_revenue": 50750000,
          "gross_profit": 151564000,
          "ebit": -331810000,
          "ebitda": -1594511000,
          "pretax_income": null,
          "tax_provision": null,
          "net_income": -1709376000,
          "net_income_to_common": -1709376000,
          "eps_basic": null,
          "eps_diluted": null,
          "shares_basic": null,
          "shares_diluted": null
        },
        "balance_sheet": {
          "cash_and_equivalents": 547132000,
          "total_current_assets": 664268000,
          "total_assets": 7286899000,
          "short_term_debt": 397845000,
          "long_term_debt": 3202082000,
          "total_debt": 3645353000,
          "total_liabilities": null,
          "total_equity": 3471720000,
          "shares_outstanding": 379464892,
          "goodwill_and_intangibles": null
        },
        "cash_flow": {
          "operating_cash_flow": -224745000,
          "capital_expenditure": -164472000,
          "free_cash_flow": -389217000,
          "dividends_paid": null,
          "share_repurchases": -3330000,
          "shares_issued": null,
          "net_debt_issued": -786000
        }
      }
    ]
  },
  "strategy_matches": [
    {
      "key": "sector_relative",
      "name": "Cheapest in Sector",
      "slug": "sector-relative",
      "group": "value",
      "page_url": "/factors/sector-relative/"
    },
    {
      "key": "risk_adj_momentum",
      "name": "Price Strength Relative to Volatility",
      "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": 10,
    "annual_financial_periods": 8,
    "quarterly_financial_periods": 12,
    "latest_factor_week": "2026-08-09",
    "latest_financials_period_end": "2026-03-31"
  },
  "schema": {
    "public_fields_only": true
  }
}