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Strong institutional distribution: ownership decreased -4.20% 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 11 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.
Is the value real, and is the business safe? Academic scores + earnings quality + solvency, from SEC filings.
4/8 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
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).
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 -$11M 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 5 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: -249%. Rough measure (includes maintenance capex).
Cash uses aggregated from the SEC cash-flow statement over 5 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. Interest last disclosed in FY2024 (no longer broken out).
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.
EOD close · as of 2026-08-05
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 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Cost of Revenue | 34.4 | 192.8 | 57.6 | 47.8 | 40.2 |
| Gross Profit | 65.6 | -92.8 | 42.4 | 52.2 | 59.8 |
| R&D | 1073.8 | 409.3 | 108.0 | 79.4 | 54.5 |
| SG&A | 1691.9 | 1074.2 | 240.0 | 237.0 | 176.9 |
| Operating Income | -4038.1 | -2709.8 | -537.1 | -420.1 | -324.3 |
| Net Income | -4405.0 | -2737.6 | -532.1 | -417.2 | -318.4 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on TNONW: price, valuation, headline fundamentals, and an auto-generated scorecard from SEC filings. Flags are rule-based signals, not recommendations.
EOD close · as of 2026-08-05 · 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 |
|---|---|---|---|---|---|
| Revenue | $3.9M 100.0% | $3.3M 100.0% | $2.9M 100.0% | $691K 100.0% | $160K 100.0% |
| Cost of Revenue | $1.6M 40.2% | $1.6M 47.8% | $1.7M 57.6% | $1.3M 192.8% | $55K 34.4% |
| Gross Profit | $2.4M 59.8% | $1.7M 52.2% | $1.2M 42.4% | -$641K -92.8% | $105K 65.6% |
| Research & Development | $2.1M 54.5% | $2.6M 79.4% | $3.2M 108.0% | $2.8M 409.3% | $1.7M 1073.8% |
| Selling, General & Admin | $7.0M 176.9% | $7.8M 237.0% | $7.0M 240.0% | $7.4M 1074.2% | $2.7M 1691.9% |
| Total Operating Expenses | $15.2M 384.1% | $15.5M 472.3% | $17.0M 579.5% | $18.1M 2617.1% | $6.6M 4103.8% |
| Operating Income | -$12.8M -324.3% | -$13.8M -420.1% | -$15.7M -537.1% | -$18.7M -2709.8% | -$6.5M -4038.1% |
| Interest Expense | — | $34K 1.0% | $21K 0.7% | $354K 51.2% | $621K 388.1% |
| Other Income (Expense), net | $236K 6.0% | $93K 2.8% | $146K 5.0% | -$192K -27.8% | -$620K -387.5% |
| Pretax Income | — | — | — | -$18.9M -2737.5% | -$7.1M -4424.4% |
| Net Income | -$12.6M -318.4% | -$13.7M -417.2% | -$15.6M -532.1% | -$18.9M -2737.6% | -$7.0M -4405.0% |
| Per Share | |||||
| EPS (Basic) | $-1.70 | $-11.26 | $-68.64 | $-23.62 | $-7.81 |
| EPS (Diluted) | $-1.70 | $-11.26 | $-68.64 | $-23.62 | $-7.81 |
| Weighted Avg Shares (Basic) | 7K | 1K | 227 | 801 | 903 |
| Weighted Avg Shares (Diluted) | 7K | 1K | 227 | 801 | 903 |
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.