$4.19

-0.04 (-0.95%)

Weekly Expected Move ±9.9%

$3 $4 $4 $5 $5

NASDAQ · Technology · Information Technology Services · Tech Score Sell · Power 40 · $313.5M mcap · 53M float · 1.32% daily turnover · Short 52% of daily vol

Edge Score

Quantitative competitive moat analysis scoring five pillars of durable advantage — cost leadership, brand intangibles, switching costs, network effects, and efficient scale — using industry percentile rankings on a 0–100 scale.

WEAK EDGE

42.4 / 100

NoneWeakNarrowWide

Primary source: Intangible Assets · ROIC: -6.0% · 5Y Avg: -33.7%

Cost Advantage

Intangibles

Switching Cost

Network Effect

Scale

The Edge Score quantifies a company's competitive moat using five pillars: Cost Advantage (20%, operating margin and SG&A efficiency vs industry peers), Intangible Assets (25%, gross margin premium, R&D intensity, brand pricing power), Switching Costs (25%, revenue stability, earnings consistency, customer retention proxied by operating leverage), Network Effects (15%, revenue growth with expanding margins, market share dominance), and Efficient Scale (15%, market concentration, ROIC sustainability). Each pillar is scored 0–100 using industry percentile rankings, then weighted into a composite. Wide ≥ 70, Narrow ≥ 55, Weak ≥ 40, None < 40. TLS shows a Weak competitive edge (42.4/100) — limited structural advantages that may face competitive pressure. The primary source of advantage is Intangible Assets. Negative ROIC of -6.0% indicates the company is currently destroying value, though this may reflect a growth investment phase.

Analyst Insights

Wall Street analyst consensus based on price targets and buy/sell/hold recommendations from institutional research coverage over the trailing 12 months.

Analyst Price Targets

Low

Avg Target

High

Based on 1 analyst since Aug 10, 2026 earnings

Analyst Recommendations

Strong Buy: 0Buy: 3Hold: 3Sell: 0Strong Sell: 0

Rating Summary

ConsensusBuy

Avg Target$5.00

Analysts1

Price Target Change History

Date	Firm	Analyst	Old	New	Change	Upside @ Call	Stock@Call
2026-09-10	Wedbush	—	Initiated	$5	—	+6.8%	$4.68
2025-08-12	D.A. Davidson	Rudy Kessinger	$4	$4	+0	-21.2%	$5.08
2024-11-13	D.A. Davidson	Rudy Kessinger	$2	$4	+1	+75.0%	$2.00
2024-08-21	B.Riley Financial	Zach Cummins	$6	$5	-0	+44.1%	$3.47
2024-08-13	BMO Capital	Keith Bachman	$4	$3	-1	+14.3%	$2.62
2024-08-12	D.A. Davidson	Rudy Kessinger	Initiated	$2	—	+20.8%	$2.07
2024-05-13	BMO Capital	Keith Bachman	$4	$4	-0	+27.6%	$3.13
2024-03-18	B.Riley Financial	Zach Cummins	Initiated	$6	—	+39.9%	$3.93
2024-03-18	BMO Capital	Keith Bachman	$4	$4	+0	+14.5%	$3.93
2022-11-10	BMO Capital	—	$9	$4	-5	+14.6%	$3.49
2022-08-10	BMO Capital	—	Initiated	$9	—	-1.2%	$9.11
2022-08-10	Needham	—	Initiated	$10	—	+13.9%	$8.78

Financial Rating

Composite financial health rating (A+ to F) based on discounted cash flow valuation, return on equity, return on assets, debt-to-equity leverage, and relative P/E and P/B multiples.

Oct 02, 2026

DCF

ROE

ROA

D/E

P/E

P/B

The Financial Rating evaluates six fundamental factors — discounted cash flow (DCF) valuation, return on equity (ROE), return on assets (ROA), debt-to-equity leverage (D/E), and relative price-to-earnings (P/E) and price-to-book (P/B) multiples — each scored 1–5. TLS receives an overall rating of C. Areas of concern: DCF (1/5), ROE (1/5), ROA (1/5), P/E (1/5).

Rating Change History

Date	From	To
2026-08-20	C-	C
2026-08-11	C+	C-
2026-08-10	C	C+
2026-07-01	C-	C
2026-06-16	C	C-
2026-05-26	C-	C
2026-05-18	C	C-
2026-04-30	C-	C
2026-03-02	C	C-

InsiderStreet Scorecard

Proprietary multi-factor scorecard rating companies across seven fundamental dimensions — profitability, balance sheet strength, earnings quality, growth, value, momentum, and safety — each scored 0–100.

★ ★ ★ ★ ★ 54 Grade D

Profitability

Balance Sheet

Earnings Quality

Growth

Value

Momentum

Safety

Cash Flow

The InsiderStreet Scorecard rates companies across eight dimensions: Profitability (margins, ROA, ROE), Balance Sheet (leverage, liquidity, coverage), Earnings Quality (accruals, cash conversion), Growth (revenue and earnings trajectory), Value (P/E, P/B, earnings yield, Graham criteria), Momentum (revenue and earnings acceleration), Safety (Altman Z-Score risk adjustment), and Cash Flow (operating cash flow quality, FCF conversion, cash coverage). The overall score blends 35% quality, 35% value, and 30% momentum, with a penalty for distress-zone Altman scores. TLS scores highest in Growth (88/100) and lowest in Profitability (12/100). A grade of D flags significant fundamental concerns across multiple dimensions.

Risk & Quality Signals

Academic financial models used by institutional investors to assess bankruptcy risk, earnings manipulation, financial strength, and credit quality.

Altman Z-Score

2.51

Grey Zone

Piotroski F-Score

6/9

✗ ✓ ✓ ✓ ✓ ✗ ✗ ✓ ✓

Beneish M-Score

-4.23

Unlikely Manipulator

Ohlson O-Score

-8.60

Bankruptcy prob: 0.0%

Low Risk

Credit Rating

BBB

Score: 55.6/100

Trend: Improving

Earnings Quality

—

OCF/NI: -2.20x

Accruals: -33.0%

The Altman Z-Score (1968) combines five ratios — working capital, retained earnings, EBIT, market value of equity, and sales, all relative to total assets or liabilities — into a single bankruptcy predictor. TLS scores 2.51, placing it in the Grey Zone (safe > 2.99, distress < 1.81). Financial distress is possible and warrants monitoring. The Piotroski F-Score (2000) is a 9-point binary checklist — four profitability tests (positive ROA, positive cash flow, improving ROA, cash flow exceeding net income), three leverage tests (declining debt ratio, improving current ratio, no share dilution), and two efficiency tests (improving gross margin, improving asset turnover). Each pass scores 1 point. TLS scores 6/9, indicating moderate financial health — some areas of strength offset by weaknesses in others. The Beneish M-Score (1999) is an 8-variable model that detects earnings manipulation by comparing year-over-year changes in receivables, gross margins, asset quality, sales growth, depreciation, SG&A, leverage, and accruals. Scores above −1.78 statistically resemble past manipulators. TLS's score of -4.23 falls below this threshold, suggesting earnings are unlikely to be manipulated. The Ohlson O-Score (1980) is a 9-variable logistic regression that estimates bankruptcy probability using firm size, leverage, working capital, current ratio, profitability (ROA), cash flow coverage, negative equity flag, consecutive losses flag, and earnings trajectory. The raw score is converted to a probability via logistic transformation. TLS's implied 0.0% bankruptcy probability is well within safe territory. Our Credit Rating model scores companies on five weighted components — solvency (30%), earning power (25%), leverage (20%), liquidity (15%), and cash flow quality (10%) — then blends the absolute score with sector and industry peer rankings. For companies with large buyback programs, equity is adjusted by adding back cumulative 5-year repurchases (capped at 80% of FCF generated) to avoid penalizing shareholder-friendly capital allocation. TLS receives an estimated rating of BBB (score: 55.6/100), with a improving trend.

Valuation

Key valuation multiples comparing the stock's market price to its earnings, revenue, book value, and cash flows. Lower multiples may indicate relative undervaluation versus peers.

P/E

-19.95x

PEG

-0.18x

P/S

1.62x

P/B

3.36x

P/FCF

12.09x

P/OCF

10.31x

EV/EBITDA

-71.27x

EV/Revenue

1.62x

EV/EBIT

-20.43x

EV/FCF

10.61x

Earnings Yield

-4.41%

FCF Yield

8.27%

Shareholder Yield

4.63%

Graham Number

—

Equity-based multiples (P/E, P/B, P/FCF) compare the stock price to per-share fundamentals and are affected by capital structure. Enterprise value multiples (EV/EBITDA, EV/Revenue, EV/FCF) strip out debt and cash, making them more useful for cross-company comparisons regardless of how companies are financed. The Graham Number — √(22.5 × EPS × Book Value) — is Benjamin Graham's formula for the maximum price a defensive investor should pay. TLS currently has negative earnings — the P/E ratio is not meaningful.

DuPont Decomposition (5-Factor)

The 5-factor DuPont framework breaks Return on Equity into its component drivers — tax efficiency, interest burden, operating profitability, asset utilization, and financial leverage — to reveal what truly drives shareholder returns.

Tax Burden

0.961

NI / EBT

Interest Burden

1.069

EBT / EBIT

EBIT Margin

-0.079

EBIT / Rev

Asset Turnover

1.271

Rev / Assets

Equity Multiplier

1.439

Assets / Equity

ROE

-14.9%

The 5-factor DuPont identity decomposes ROE as: Tax Burden × Interest Burden × EBIT Margin × Asset Turnover × Equity Multiplier = ROE. This reveals whether returns are driven by operating performance, financial leverage, or tax efficiency — three very different sources of profitability. TLS's ROE of -14.9% is driven by Asset Turnover (1.271), indicating efficient use of assets to generate revenue. A tax burden ratio of 0.96 indicates minimal tax leakage — the company retains over 90% of pre-tax earnings.

Graham-Dodd Adjusted Valuation

Our adaptation of Graham's growth formula (Fair P/E = 8.5 + 2g) from The Intelligent Investor. The classic version relies on analyst growth projections, which can be unreliable. This adjusted model substitutes the company's realized 3-year EPS CAGR — a backward-looking, verifiable measure of actual earnings power — grounding the valuation in demonstrated performance rather than forecasts.

Two adjustments we make, and why. Growth is capped at 15%. Graham defined g as expected growth over the next seven to ten years, not last year's rate. Across US companies since 1994 the median realized 7-year EPS growth is 5–8% regardless of how fast a company grew beforehand, and of 4,457 company-quarters that grew faster than 200%, none sustained it. Uncapped, the formula assigned fair multiples in the hundreds to companies that had never held that rate — and scored worse than simply reading the P/E. Capped, it carries real information. The verdict has three states, not two. Tested over 377,249 stock-months, this ratio only separates outcomes at its extremes: below 0.25 beat the universe by 1.3 points a year, above 3.0 lagged by 2.7, and everything in between sat inside a one-point band. Rather than call two-thirds of the market "undervalued" on a threshold of 1.0, we say Neutral where the model cannot tell — which is most of the time.

Adj. Growth Rate

0.00%

Fair P/E

8.50x

Intrinsic Value

—

Price/Value

—

Margin of Safety

—

Premium

—

Profitability Trends

Historical profitability ratios tracking how efficiently the company converts revenue into returns for shareholders over time.

Leverage & Solvency Trends

Debt and liquidity metrics showing the company's financial leverage and ability to meet short-term and long-term obligations.

Efficiency & Working Capital Trends

Operating efficiency metrics measuring how quickly the company converts inventory to sales, collects receivables, and manages its cash conversion cycle.

Growth Trends (YoY %)

Year-over-year growth rates for key financial metrics, showing the trajectory of revenue, earnings, and cash flow generation.

Earnings Stability

R-squared of linear regression measuring how predictably revenue, earnings, and margins follow a trend over the trailing 5 years. 1.0 = perfectly predictable; lower values indicate erratic or cyclical behavior.

Monte Carlo Price Simulation

Geometric Brownian Motion with 1,000 antithetic paths over 1 year, seeded from 1473 days of historical volatility. Percentile bands show the range of statistically plausible outcomes — this is a statistical model, not a forecast.

Current Price

$4.19

Median 1Y

$2.00

5th Pctile

$0.47

95th Pctile

$8.49

Ann. Volatility

97.1%

Analyst Target

$5.00

25th–75th percentile 5th–95th percentile Median path Historical Analyst target

Executive Compensation

C-suite compensation breakdown including salary, stock awards, options, and incentive pay. The CEO-to-employee pay ratio and Gini coefficient measure pay distribution fairness.

C-Suite Compensation

Executive	Salary	Stock	Total
John B. Wood Chairman, President and CEO	$600,000	$2,200,075	$2,848,275
Mark G. Griffin Executive V.P., Security Solutions	$411,255	$916,697	$1,342,336
Mark Bendza V.P., tive V.P., CFO	$410,000	$916,697	$1,336,081
Hutch Robbins V.P., tive V.P., General Counsel	$385,000	$733,358	$1,167,782
Malcolm G. Cooke V.P., Chief Information Technology Officer	$286,914	$366,682	$644,975

CEO Pay Ratio

18:1

CEO-to-Employee Pay Ratio

CEO Total Comp: $2,848,275

Avg Employee Cost (SGA/emp): $155,059

Employees: 509

C-Suite Pay Equality (Gini)

CEO Compensation Mix

Workforce & Productivity

Workforce efficiency metrics measuring revenue, profit, and R&D spend per employee — key indicators of operational leverage and human capital productivity.

Employees

509

+1.0% YoY

Revenue / Employee

$323,782

Rev: $164,805,000

Profit / Employee

$-71,800

NI: $-36,546,000

SGA / Employee

$155,059

Avg labor cost proxy

R&D / Employee

$13,864

Innovation spend

Scaling Efficiency

All Ratios & Metrics

Complete fundamental data with up to 20 periods of history, sparkline trends, and current values across 13 categories and 130+ financial metrics.

Profitability

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
ROE	-19.7%	-27.3%	-29.0%	-23.7%	-24.9%	-32.9%	-30.3%	-26.9%	-27.1%	-20.8%	-19.2%	-19.4%	-34.2%	-36.7%	-38.3%	-41.5%	-23.7%	-32.8%	-23.3%	-14.9%	-14.86%
ROA	-13.9%	-19.3%	-20.0%	-17.4%	-17.7%	-24.0%	-22.5%	-20.1%	-20.5%	-15.4%	-14.9%	-15.4%	-27.0%	-28.6%	-30.4%	-32.0%	-17.9%	-24.5%	-17.4%	-10.3%	-10.33%
ROIC	-68.0%	-46.1%	-48.9%	-47.5%	-52.3%	-61.8%	-61.8%	-52.1%	-53.4%	-44.7%	-39.2%	-34.5%	-47.2%	-41.8%	-44.9%	-51.1%	-35.7%	-38.0%	-20.5%	-6.0%	-6.04%
ROCE	-17.5%	-21.1%	-22.7%	-21.0%	-22.4%	-29.8%	-28.2%	-25.2%	-25.9%	-19.8%	-18.4%	-18.9%	-35.6%	-38.1%	-39.5%	-43.4%	-22.3%	-35.0%	-24.7%	-15.5%	-15.46%
Gross Margin	36.1%	39.1%	37.6%	37.5%	32.9%	38.6%	38.3%	37.6%	36.0%	34.3%	33.8%	34.1%	34.3%	40.3%	39.8%	33.2%	39.9%	35.8%	36.4%	35.0%	34.96%
Operating Margin	-7.4%	-6.5%	-32.6%	-25.2%	-13.8%	-40.7%	-36.8%	-28.8%	-26.8%	-19.9%	-28.5%	-30.3%	-70.5%	-37.6%	-29.5%	-27.5%	-4.8%	-6.6%	3.0%	0.6%	0.65%
Net Margin	-7.6%	-6.6%	-33.1%	-25.4%	-13.3%	-39.7%	-30.5%	-24.4%	-24.0%	-17.0%	-24.9%	-27.2%	-1.2%	-35.4%	-28.1%	-26.5%	-4.1%	-34.9%	4.2%	1.4%	1.38%
EBITDA Margin	-5.2%	-4.2%	-29.8%	-22.2%	-10.6%	-36.2%	-25.7%	-18.6%	-14.5%	-9.1%	-13.7%	-14.3%	-1.1%	-25.4%	-20.0%	-19.0%	-1.3%	-28.8%	11.7%	8.7%	8.71%
FCF Margin	-5.7%	-0.8%	1.9%	2.9%	2.5%	1.3%	0.9%	-4.4%	-12.7%	-4.7%	-4.6%	-10.1%	-14.4%	-34.1%	-25.0%	-7.8%	3.2%	16.6%	15.2%	15.2%	15.24%
OCF Margin	-2.0%	4.2%	7.3%	9.1%	8.9%	7.6%	8.0%	2.3%	-4.6%	1.1%	1.0%	-1.9%	-8.5%	-24.0%	-17.8%	-3.9%	8.1%	18.3%	18.0%	17.9%	17.87%
ROE 3Y Avg	snapshot only																				-28.12%
ROE 5Y Avg	snapshot only																				-26.99%
ROA 3Y Avg	snapshot only																				-20.59%
ROIC 3Y Avg	snapshot only																				-28.08%
ROIC Economic	snapshot only																				-3.11%
Cash ROA	snapshot only																				24.77%
Cash ROIC	snapshot only																				69.60%
CROIC	snapshot only																				59.35%
NOPAT Margin	snapshot only																				-1.55%
Pretax Margin	snapshot only																				-8.46%
R&D / Revenue	snapshot only																				3.45%
SGA / Revenue	snapshot only																				35.35%
SBC / Revenue	snapshot only																				11.11%

Valuation

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
P/E Ratio	-56.16	-24.58	-15.41	-13.63	-13.80	-5.90	-3.31	-3.86	-3.59	-7.40	-9.46	-9.40	-5.17	-4.72	-3.22	-4.18	-16.85	-10.19	-12.55	-22.66	-19.952
P/S Ratio	8.50	4.25	2.84	2.29	2.57	1.58	0.85	0.99	1.10	1.75	2.10	2.14	2.11	2.29	1.58	1.99	3.45	2.26	1.79	1.84	1.618
P/B Ratio	11.06	5.71	3.85	3.15	3.39	1.99	1.02	1.06	1.01	1.60	1.90	1.94	2.00	1.95	1.37	1.96	4.16	3.88	3.37	3.82	3.359
P/FCF	-150.32	-521.72	150.96	78.65	101.15	122.76	98.00	-22.64	-8.66	-36.93	-45.72	-21.28	-14.63	-6.71	-6.35	-25.43	108.09	13.62	11.72	12.09	12.086
P/OCF	—	100.61	38.80	25.25	28.97	20.75	10.67	42.69	—	160.61	219.76	—	—	—	—	—	42.63	12.34	9.94	10.31	10.305
EV/EBITDA	-64.83	-25.85	-15.24	-13.08	-13.28	-4.78	-1.61	-2.22	-2.08	-6.91	-11.03	-12.86	-5.41	-5.08	-2.97	-4.11	-22.05	-12.09	-18.38	-71.27	-71.274
EV/Revenue	7.97	3.79	2.40	1.84	2.09	1.13	0.36	0.48	0.52	1.15	1.51	1.63	1.63	1.88	1.14	1.58	3.10	1.99	1.55	1.62	1.616
EV/EBIT	-53.91	-22.32	-13.23	-11.16	-11.46	-4.29	-1.42	-1.92	-1.73	-4.97	-6.98	-7.33	-4.05	-3.92	-2.35	-3.35	-15.78	-9.08	-11.09	-20.43	-20.425
EV/FCF	-140.94	-465.31	127.31	63.11	82.34	87.78	41.46	-11.05	-4.07	-24.21	-32.91	-16.21	-11.30	-5.51	-4.58	-20.18	97.14	11.97	10.18	10.61	10.606
Earnings Yield	-1.8%	-4.1%	-6.5%	-7.3%	-7.2%	-16.9%	-30.2%	-25.9%	-27.8%	-13.5%	-10.6%	-10.6%	-19.3%	-21.2%	-31.1%	-23.9%	-5.9%	-9.8%	-8.0%	-4.4%	-4.41%
FCF Yield	-0.7%	-0.2%	0.7%	1.3%	1.0%	0.8%	1.0%	-4.4%	-11.6%	-2.7%	-2.2%	-4.7%	-6.8%	-14.9%	-15.8%	-3.9%	0.9%	7.3%	8.5%	8.3%	8.27%
Price/Tangible Book	snapshot only																				5.829
EV/OCF	snapshot only																				9.043
EV/Gross Profit	snapshot only																				4.387
Shareholder Yield	snapshot only																				4.63%

Leverage & Solvency

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
Current Ratio	3.53	3.76	3.41	3.41	3.27	3.69	4.00	3.93	4.60	3.57	4.05	4.76	3.64	4.13	4.00	2.65	2.76	2.57	2.59	2.38	2.383
Quick Ratio	3.50	3.74	3.37	3.34	3.19	3.63	3.96	3.88	4.57	3.54	4.00	4.70	3.59	4.05	3.94	2.55	2.67	2.57	2.59	2.26	2.262
Debt/Equity	0.09	0.08	0.08	0.08	0.08	0.13	0.08	0.07	0.07	0.07	0.08	0.07	0.08	0.08	0.08	0.08	0.07	0.08	0.08	0.07	0.075
Net Debt/Equity	-0.69	-0.62	-0.60	-0.62	-0.63	-0.57	-0.59	-0.54	-0.54	-0.55	-0.53	-0.46	-0.46	-0.35	-0.38	-0.40	-0.42	-0.47	-0.44	-0.47	-0.468
Debt/Assets	0.06	0.06	0.06	0.06	0.06	0.09	0.06	0.06	0.06	0.05	0.06	0.06	0.06	0.06	0.06	0.06	0.05	0.06	0.05	0.05	0.050
Debt/EBITDA	-0.57	-0.43	-0.40	-0.42	-0.37	-0.42	-0.29	-0.32	-0.32	-0.47	-0.60	-0.65	-0.29	-0.25	-0.23	-0.20	-0.42	-0.30	-0.49	-1.59	-1.586
Net Debt/EBITDA	4.31	3.13	2.83	3.22	3.03	1.91	2.20	2.33	2.34	3.63	4.29	4.02	1.60	1.11	1.14	1.07	2.49	1.67	2.78	9.95	9.946
Interest Coverage	-18.17	-52.94	-55.70	-51.46	-56.67	-65.35	-54.92	-48.53	-48.91	-42.75	-42.57	-43.71	-74.19	-80.51	-86.24	-91.92	-24.63	-31.96	-23.30	-14.47	-14.472
Equity Multiplier	1.42	1.37	1.39	1.39	1.40	1.38	1.30	1.29	1.25	1.31	1.27	1.22	1.28	1.24	1.25	1.39	1.37	1.46	1.45	1.50	1.496
Cash Ratio	snapshot only																				1.246
Debt Service Coverage	snapshot only																				-4.147
Cash to Debt	snapshot only																				7.271
FCF to Debt	snapshot only																				4.237
Defensive Interval	snapshot only																				333.4 days

Efficiency & Turnover

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
Asset Turnover	0.92	1.12	1.08	1.03	0.95	0.90	0.87	0.78	0.67	0.65	0.67	0.68	0.66	0.59	0.62	0.67	0.87	1.11	1.22	1.27	1.271
Inventory Turnover	71.83	68.28	73.05	55.14	44.11	66.85	68.86	42.24	33.40	43.02	58.38	56.47	67.77	43.57	46.44	26.63	37.26	115.99	154.92	26.91	26.913
Receivables Turnover	4.49	9.82	4.29	5.31	4.64	7.41	4.37	4.22	3.97	4.12	6.40	6.17	7.43	5.35	11.93	8.74	10.27	12.20	18.85	11.03	11.034
Payables Turnover	4.14	13.79	6.47	8.84	5.75	13.46	5.47	8.17	9.90	8.84	13.00	12.28	29.15	14.75	42.20	10.04	31.97	39.47	63.58	13.11	13.113
DSO	81	37	85	69	79	49	84	87	92	88	57	59	49	68	31	42	36	30	19	33	33.1 days
DIO	5	5	5	7	8	5	5	9	11	8	6	6	5	8	8	14	10	3	2	14	13.6 days
DPO	88	26	56	41	64	27	67	45	37	41	28	30	13	25	9	36	11	9	6	28	27.8 days
Cash Conversion Cycle	-2	16	34	34	23	28	22	51	66	56	35	36	42	52	30	19	34	24	16	19	18.8 days
Fixed Asset Turnover	snapshot only																				30.515
Operating Cycle	snapshot only																				46.6 days
Cash Velocity	snapshot only																				3.825
Capital Intensity	snapshot only																				0.721

Growth (YoY)

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
Revenue	—	4.4%	1.4%	54.9%	4.6%	-10.5%	-14.7%	-25.1%	-35.1%	-33.0%	-30.8%	-24.4%	-18.9%	-25.5%	-21.8%	-13.8%	17.4%	52.2%	66.5%	65.9%	65.93%
Net Income	—	-11.8%	-3.0%	-40.9%	-28.7%	-38.6%	-19.3%	-14.4%	-6.4%	40.7%	40.5%	33.1%	-8.5%	-52.6%	-73.1%	-80.3%	41.1%	30.4%	51.8%	71.6%	71.64%
EPS	—	-11.5%	-2.8%	-38.3%	-27.3%	-37.4%	-18.3%	-11.9%	-3.2%	42.8%	42.5%	35.5%	-4.4%	-47.1%	-68.1%	-77.5%	41.5%	31.0%	54.8%	73.2%	73.24%
FCF	—	87.2%	1.2%	1.3%	1.5%	2.4%	-60.6%	-2.1%	-4.2%	-3.5%	-4.7%	-73.3%	7.7%	-4.3%	-3.2%	33.0%	1.3%	1.7%	2.0%	4.2%	4.24%
EBITDA	—	-7.6%	-3.8%	-41.2%	-34.1%	-44.3%	-21.6%	-16.0%	-2.0%	52.8%	57.7%	56.1%	1.4%	-65.4%	-1.2%	-1.6%	45.2%	32.3%	63.4%	90.2%	90.19%
Op. Income	—	-3.2%	-85.9%	2.5%	5.2%	-45.4%	-27.8%	-27.4%	-18.6%	31.0%	35.0%	30.8%	18.2%	-8.6%	-23.9%	-30.4%	25.6%	44.1%	68.5%	91.7%	91.66%
OCF Growth	snapshot only																				8.62%
Asset Growth	snapshot only																				-15.33%
Equity Growth	snapshot only																				-21.11%
Debt Growth	snapshot only																				-23.69%
Shares Change	snapshot only																				5.99%

Growth (CAGR)

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
Revenue 3Y	—	—	—	—	—	—	—	—	—	48.0%	11.6%	-4.3%	-18.0%	-23.6%	-22.7%	-21.2%	-14.8%	-8.7%	-3.4%	2.7%	2.65%
Revenue 5Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	29.7%	12.6%	4.7%	4.66%
EPS 3Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
EPS 5Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Net Income 3Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Net Income 5Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
EBITDA 3Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
EBITDA 5Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Gross Profit 3Y	—	—	—	—	—	—	—	—	—	48.9%	17.6%	-4.0%	-18.6%	-23.7%	-23.6%	-21.8%	-13.6%	-8.1%	-3.3%	3.1%	3.11%
Gross Profit 5Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	30.8%	17.0%	6.2%	6.15%
Op. Income 3Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Op. Income 5Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
FCF 3Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	-8.1%	1.1%	1.5%	—	—
FCF 5Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
OCF 3Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	-17.4%	22.3%	26.5%	1.0%	1.03%
OCF 5Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Assets 3Y	—	—	—	—	—	—	—	—	—	3.5%	0.2%	-6.1%	-11.8%	-13.7%	-13.5%	-12.0%	-12.8%	-16.2%	-14.1%	-13.6%	-13.62%
Assets 5Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	-5.8%	-6.4%	-8.7%	-8.68%
Equity 3Y	—	—	—	—	—	—	—	—	—	7.7%	7.0%	-3.3%	-8.9%	-11.0%	-10.4%	-12.1%	-12.2%	-17.7%	-17.2%	-17.7%	-17.69%
Book Value 3Y	—	—	—	—	—	—	—	—	—	5.0%	3.9%	-5.7%	-11.3%	-13.4%	-12.5%	-14.3%	-14.4%	-19.9%	-20.7%	-20.7%	-20.67%
Dividend 3Y	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—

Growth Quality

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
Revenue Stability	—	—	—	—	—	0.64	0.51	0.08	0.64	0.16	0.03	0.11	0.84	0.97	0.98	0.95	0.62	0.20	0.12	0.01	0.006
Earnings Stability	—	—	—	—	—	0.93	0.90	0.96	0.91	0.42	0.25	0.04	0.92	0.47	0.42	0.40	0.00	0.27	0.07	0.02	0.016
Margin Stability	—	—	—	—	—	0.99	0.88	0.95	0.96	0.99	0.90	0.96	0.95	0.99	0.96	0.97	0.95	0.98	0.92	0.97	0.966
Rev. Growth Consistency	0.00	0.50	0.50	0.50	0.50	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.50	0.50	0.50	0.50	0.500
Earn. Growth Consistency	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.50	0.50	0.50	0.00	0.00	0.00	0.00	0.50	0.50	0.50	0.50	0.500
FCF Positive Streak	0	0	0	0	0	0	1	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Earnings Persistence	—	—	—	—	—	0.50	0.92	0.94	0.97	0.84	0.84	0.87	0.97	0.50	0.50	0.50	0.84	0.88	0.50	0.50	0.500
Earnings Smoothness	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
ROE Trend	—	—	—	—	—	-0.24	-0.14	-0.07	-0.06	0.07	0.08	0.05	-0.12	-0.14	-0.17	-0.23	0.09	-0.07	0.05	0.17	0.169
Gross Margin Trend	—	—	—	—	—	0.01	0.02	0.00	0.02	0.00	-0.02	-0.02	-0.03	-0.01	0.01	0.01	0.02	0.01	0.00	0.01	0.012
FCF Margin Trend	—	—	—	—	—	0.19	0.12	0.01	-0.11	-0.05	-0.06	-0.09	-0.09	-0.32	-0.23	-0.01	0.17	0.36	0.30	0.24	0.242
Sustainable Growth Rate	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Internal Growth Rate	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—

Cash Flow Quality

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
OCF/Net Income	0.13	-0.24	-0.40	-0.54	-0.48	-0.28	-0.31	-0.09	0.15	-0.05	-0.04	0.08	0.21	0.49	0.36	0.08	-0.40	-0.83	-1.26	-2.20	-2.199
FCF/OCF	2.85	-0.19	0.26	0.32	0.29	0.17	0.11	-1.89	2.75	-4.35	-4.81	5.36	1.69	1.42	1.40	2.01	0.39	0.91	0.85	0.85	0.853
FCF/Net Income	snapshot only																				-1.875
CapEx/Revenue	3.7%	5.0%	5.4%	6.2%	6.3%	6.3%	7.1%	6.7%	8.1%	5.8%	5.6%	8.2%	5.9%	10.1%	7.1%	3.9%	4.9%	1.7%	2.7%	2.6%	2.63%
CapEx/Depreciation	snapshot only																				0.466
Accruals Ratio	-0.12	-0.24	-0.28	-0.27	-0.26	-0.31	-0.29	-0.22	-0.17	-0.16	-0.16	-0.14	-0.21	-0.14	-0.19	-0.29	-0.25	-0.45	-0.39	-0.33	-0.330
Sloan Accruals	snapshot only																				-0.123
Cash Flow Adequacy	snapshot only																				6.787

Dividends & Buybacks

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
Dividend Yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.00%
Dividend/Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Payout Ratio	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
FCF Payout Ratio	—	—	0.0%	0.0%	0.0%	0.0%	0.0%	—	—	—	—	—	—	—	—	—	0.0%	0.0%	0.0%	0.0%	0.00%
Total Payout Ratio	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Div. Increase Streak	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Chowder Number	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—
Buyback Yield	5.8%	0.1%	0.2%	0.5%	1.3%	3.3%	6.5%	4.9%	2.3%	0.9%	0.9%	0.9%	1.0%	0.2%	0.1%	1.8%	1.6%	3.7%	4.9%	4.6%	4.63%
Net Buyback Yield	-8.6%	0.1%	0.2%	0.5%	1.3%	3.3%	6.5%	4.9%	2.3%	0.9%	0.9%	0.9%	0.9%	0.1%	-0.1%	1.7%	1.5%	3.7%	4.9%	4.6%	4.63%
Total Shareholder Return	-8.6%	0.1%	0.2%	0.5%	1.3%	3.3%	6.5%	4.9%	2.3%	0.9%	0.9%	0.9%	0.9%	0.1%	-0.1%	1.7%	1.5%	3.7%	4.9%	4.6%	4.63%

DuPont Factors

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
Tax Burden (NI/EBT)	0.97	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	0.98	0.98	0.96	0.961
Interest Burden (EBT/EBIT)	1.06	1.02	1.02	1.02	1.02	1.02	1.02	1.02	1.02	1.02	1.02	1.02	1.01	1.01	1.01	1.01	1.04	1.03	1.04	1.07	1.069
EBIT Margin	-0.15	-0.17	-0.18	-0.16	-0.18	-0.26	-0.25	-0.25	-0.30	-0.23	-0.22	-0.22	-0.40	-0.48	-0.49	-0.47	-0.20	-0.22	-0.14	-0.08	-0.079
Asset Turnover	0.92	1.12	1.08	1.03	0.95	0.90	0.87	0.78	0.67	0.65	0.67	0.68	0.66	0.59	0.62	0.67	0.87	1.11	1.22	1.27	1.271
Equity Multiplier	1.42	1.41	1.46	1.36	1.41	1.37	1.35	1.34	1.33	1.35	1.28	1.26	1.26	1.28	1.26	1.30	1.33	1.34	1.34	1.44	1.439

Per Share

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
EPS (Diluted TTM)	$-0.51	$-0.63	$-0.65	$-0.59	$-0.64	$-0.86	$-0.77	$-0.66	$-0.66	$-0.49	$-0.44	$-0.43	$-0.69	$-0.73	$-0.74	$-0.76	$-0.41	$-0.50	$-0.33	$-0.20	$-0.20
Book Value/Share	$2.57	$2.70	$2.59	$2.57	$2.62	$2.56	$2.49	$2.41	$2.36	$2.28	$2.19	$2.07	$1.79	$1.76	$1.73	$1.62	$1.64	$1.31	$1.24	$1.20	$1.25
Tangible Book/Share	$2.06	$2.14	$2.01	$1.95	$1.96	$1.74	$1.73	$1.61	$1.54	$1.45	$1.36	$1.26	$1.13	$1.09	$1.06	$0.94	$0.97	$0.86	$0.82	$0.79	$0.79
Revenue/Share	$3.34	$3.63	$3.51	$3.52	$3.46	$3.22	$2.96	$2.58	$2.18	$2.08	$1.98	$1.88	$1.70	$1.49	$1.50	$1.60	$1.98	$2.26	$2.34	$2.50	$2.59
FCF/Share	$-0.19	$-0.03	$0.07	$0.10	$0.09	$0.04	$0.03	$-0.11	$-0.28	$-0.10	$-0.09	$-0.19	$-0.25	$-0.51	$-0.38	$-0.12	$0.06	$0.37	$0.36	$0.38	$0.39
OCF/Share	$-0.07	$0.15	$0.26	$0.32	$0.31	$0.25	$0.24	$0.06	$-0.10	$0.02	$0.02	$-0.04	$-0.14	$-0.36	$-0.27	$-0.06	$0.16	$0.41	$0.42	$0.45	$0.46
Cash/Share	$2.01	$1.90	$1.78	$1.81	$1.86	$1.77	$1.65	$1.49	$1.44	$1.42	$1.33	$1.11	$0.96	$0.75	$0.79	$0.78	$0.81	$0.73	$0.65	$0.65	$0.68
EBITDA/Share	$-0.41	$-0.53	$-0.55	$-0.50	$-0.55	$-0.76	$-0.66	$-0.56	$-0.54	$-0.35	$-0.27	$-0.24	$-0.51	$-0.55	$-0.58	$-0.61	$-0.28	$-0.37	$-0.20	$-0.06	$-0.06
Debt/Share	$0.24	$0.23	$0.22	$0.21	$0.20	$0.32	$0.19	$0.18	$0.17	$0.16	$0.16	$0.15	$0.15	$0.14	$0.13	$0.12	$0.12	$0.11	$0.10	$0.09	$0.09
Net Debt/Share	$-1.77	$-1.67	$-1.56	$-1.60	$-1.65	$-1.45	$-1.46	$-1.31	$-1.26	$-1.26	$-1.17	$-0.96	$-0.82	$-0.61	$-0.66	$-0.65	$-0.69	$-0.62	$-0.55	$-0.56	$-0.56

Academic Models

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
Altman Z-Score	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	2.507
Altman Z-Prime	snapshot only																				1.558
Piotroski F-Score	2	6	6	4	4	2	5	5	3	4	4	3	1	3	2	2	6	5	5	6	6
Beneish M-Score	—	-2.52	-3.29	-2.71	-3.51	-4.21	-4.22	-3.65	-3.83	-3.36	-3.54	-3.60	-4.11	-3.78	-3.65	-3.83	-2.96	-4.48	-4.34	-4.23	-4.229
Ohlson O-Score	snapshot only																				-8.603
ROIC (Greenblatt)	snapshot only																				-24.51%
Net-Net WC	snapshot only																				$0.65
EVA	snapshot only																				$-7975990.00

Credit

Metric	Q3'21	Q4'21	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Current
Credit Rating	snapshot only																				BBB
Credit Score	57.03	61.33	66.55	67.41	67.26	50.31	44.09	40.30	38.28	44.66	53.57	55.17	43.04	43.16	33.40	32.89	65.89	50.75	50.36	55.58	55.581
Credit Grade	snapshot only																				9
Credit Trend	snapshot only																				22.687
Implied Spread (bps)	snapshot only																				275.000
Industry Credit Rank	snapshot only																				39
Sector Credit Rank	snapshot only																				40

TLS NASDAQ

Edge Score

Analyst Insights

Financial Rating

InsiderStreet Scorecard

Risk & Quality Signals

Valuation

DuPont Decomposition (5-Factor)

Graham-Dodd Adjusted Valuation

Profitability Trends

Leverage & Solvency Trends

Efficiency & Working Capital Trends

Growth Trends (YoY %)

Earnings Stability

Monte Carlo Price Simulation

Executive Compensation

C-Suite Compensation

CEO Pay Ratio

C-Suite Pay Equality (Gini)

CEO Compensation Mix

Workforce & Productivity

Scaling Efficiency

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