Share count +0.1% in a year
Dilution: new shares, stock pay and buybacks
Shares offered
Since Nov 12, 2023: 7 at-the-market programs, 9 sales of new shares, 2 shelf registrations; also 6 resales by holders. Latest at-the-market program for common stock: Sep 24, 2025, up to $33.6M.
- May 6, 2026 Sale of 2.8M new shares 424B5
- Nov 17, 2025 Shelf registration: shares and other securities, amount not fixed S-3
- Sep 24, 2025 At-the-market program: up to $34M of common stock 424B5
- Jul 7, 2025 At-the-market program: up to $50M of common stock 424B5
- Jun 27, 2025 At-the-market program: up to $50M of common stock 424B5
- Jun 2, 2025 At-the-market program: up to $50M of common stock 424B5
Every offering filing →“We are offering 2,777,778 shares of our common stock, $0.0001 par value per share, in this offering.”
424B5, May 6, 2026 ↗
Bought back
-
no buyback line in the 10-K XBRL, year to Dec 31, 2025
Diluted shares: 5.00M in the year to Dec 31, 2025 2025 +500.3%2024 +62.4%2022 +27.8%
Change in the diluted weighted average share count from the fiscal year before, stock splits taken out. Bars use one scale for stock pay and buybacks. Prospectuses are read from their cover page; preliminary ones are left out. Cash & buybacks, year by year → · How
Where the cash came from and where it went
No cash flow chart for banks and insurers: their operating cash flow moves with loans, deposits and trading, so it says little about how cash was spent.
Buybacks, dividends and share count
| Fiscal year to | Buybacks | Dividends | Stock pay | Shares issued for cash | Diluted shares |
|---|---|---|---|---|---|
| 2025-12-31 | - | - | $6.4M | - | 5.00M |
| 2024-12-31 | - | - | $1.7M | - | 833K |
| 2023-12-31 | - | - | $2.5M | $27K | 513K |
| 2022-12-31 | - | - | $3.8M | $0 | 33.65M |
| 2021-12-31 | - | - | $2.9M | $203K | 26.32M |
From the XBRL of the 10-Ks (cash flow statement and diluted weighted average shares); each year as reported in the latest 10-K that includes it. Concepts: sbc = ShareBasedCompensation; diluted_shares = WeightedAverageNumberOfDilutedSharesOutstanding.