Recent News
On November 18, 2025 the company announced speakers and the agenda for its Users Conference and Analyst Day to be held December 3–4, 2025 in Santa Clara. On December 2, 2025 the company confirmed the Analyst Day webcast and presentation availability. On January 26, 2026 the company scheduled fourth-quarter and fiscal‑year 2025 results for release after market close on February 12, 2026.
Technical Analysis
ADX at 29.03 signals a strong underlying trend; that strength increases the odds that short-term directional moves carry follow‑through into the coming weeks and affects the pace of consolidation relative to moving averages.
DI+ sits at 31.43 with a peak‑and‑reversal pattern, a bearish directional read that implies recent upside momentum has lost some lift. DI− at 14.28 and trending down reads as bullish for the background trend because downward DI− relieves downside pressure.
MACD currently at 1.46 sits above its signal line (1.30), which registers as a bullish cross, even though the MACD trend shows a peak‑and‑reversal pattern that signals waning momentum; together this implies bullish bias with diminishing momentum.
MRO at 26.78 and increasing indicates the market price trades above the modeled target, implying mean‑reversion pressure that could push price lower unless fresh buying restores alignment with valuation drivers.
RSI near 59.8 with a peak‑and‑reversal signal points to cooling upside momentum after a recent advance rather than an immediate overbought reading, supporting the case for a consolidation phase around current levels.
Price trades above the 12‑day EMA (33.67), 20‑day average (33.44) and 50‑day average (29.57), with the 12‑day EMA rising; that configuration provides short‑term support and ties the current price to the valuation band reflected in WMDST’s fair‑value assessment.
Volume at ~212,674 trails recent averages, suggesting current moves lack conviction; elevated 42‑day beta (1.95) implies outsized reaction potential to catalyst events during any near‑term trend continuation or pullback.
Fundamental Analysis
Total revenue reached $57,115,000 for the period ending 2025‑09‑30, with YoY revenue change down 8.63% but quarter‑over‑quarter revenue up 25.97%, indicating sequential acceleration versus the year‑ago comparison. Gross margin held at 72.27%, supporting healthy unit economics for the software and services mix.
Operating margin at 8.45% improved markedly versus prior periods (operating margin QoQ up 291.43% and YoY up 85.09%), and EBIT of $4,725,000 produced an EBIT margin of 8.27%. That EBIT margin falls below the industry peer mean of 33.952% and below the industry peer median of 35.717%, highlighting room to close the gap versus peers.
EPS delivered $0.64 versus an estimate of $0.22, a $0.42 beat representing roughly a 191% surprise. Forward EPS sits at $0.2681 with forward PE about 85.91x, while trailing PE equals 39.12x; those multiples reflect investor expectations for growth but stretch relative to operating profitability.
Free cash flow came in negative at −$3,038,000 and free cash flow yield stands at −0.31%, with free cash growth down roughly 77.9% year‑over‑year. Cash and short‑term investments total $35.88M against net debt of $31.68M, producing a modest liquidity cushion but a debt‑to‑EBITDA of about 9.3x, which signals elevated leverage relative to cash earnings.
Asset turnover at 0.143 sits below the industry peer mean of 0.1927, reflecting lower revenue intensity per asset. The current ratio equals 2.21, slightly above the industry peer mean of 2.1637, indicating adequate near‑term liquidity. Interest coverage at 3.82 provides some buffer on interest expense but remains modest versus typical SaaS/high‑margin peers.
WMDST values the stock as fair‑valued. That view reflects a mix of stable gross margins and sequential revenue acceleration offset by negative free cash flow, elevated leverage versus operating earnings, and rich forward multiples which together support a neutral valuation stance absent a material improvement in cash generation or margin expansion.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2025-09-30 |
| REPORT DATE: | 2025-11-06 |
| NEXT REPORT DATE: | 2026-02-05 |
| CASH FLOW | Begin Period Cash Flow | $ 37.4 M |
| Operating Cash Flow | $ 3.3 M | |
| Capital Expenditures | $ -6.33 M | |
| Change In Working Capital | $ -9.55 M | |
| Dividends Paid | — | |
| Cash Flow Delta | $ -1.53 M | |
| End Period Cash Flow | $ 35.9 M | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | $ 57.1 M | |
| Forward Revenue | $ 116.9 M | |
| COSTS | ||
| Cost Of Revenue | $ 15.8 M | |
| Depreciation | $ 1.1 M | |
| Depreciation and Amortization | $ 3.2 M | |
| Research and Development | $ 15.4 M | |
| Total Operating Expenses | $ 52.3 M | |
| PROFITABILITY | ||
| Gross Profit | $ 41.3 M | |
| EBITDA | $ 7.9 M | |
| EBIT | $ 4.7 M | |
| Operating Income | $ 4.8 M | |
| Interest Income | — | |
| Interest Expense | $ 1.2 M | |
| Net Interest Income | $ -1.24 M | |
| Income Before Tax | $ 3.5 M | |
| Tax Provision | $ 2.2 M | |
| Tax Rate | 21.0 % | |
| Net Income | $ 1.3 M | |
| Net Income From Continuing Operations | $ 1.3 M | |
| EARNINGS | ||
| EPS Estimate | $ 0.22 | |
| EPS Actual | $ 0.64 | |
| EPS Difference | $ 0.42 | |
| EPS Surprise | 190.909 % | |
| Forward EPS | $ 0.27 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 406.4 M | |
| Intangible Assets | $ 151.0 M | |
| Net Tangible Assets | $ 113.4 M | |
| Total Current Assets | $ 146.1 M | |
| Cash and Short-Term Investments | $ 35.9 M | |
| Cash | $ 35.9 M | |
| Net Receivables | $ 74.9 M | |
| Inventory | — | |
| Long-Term Investments | $ 1.9 M | |
| LIABILITIES | ||
| Accounts Payable | $ 14.7 M | |
| Short-Term Debt | $ 2.2 M | |
| Total Current Liabilities | $ 66.1 M | |
| Net Debt | $ 31.7 M | |
| Total Debt | $ 73.8 M | |
| Total Liabilities | $ 142.0 M | |
| EQUITY | ||
| Total Equity | $ 264.4 M | |
| Retained Earnings | $ -94.58 M | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 6.75 | |
| Shares Outstanding | 39.507 M | |
| Revenue Per-Share | $ 1.46 | |
| VALUATION | Market Capitalization | $ 980.6 M |
| Enterprise Value | $ 1.0 B | |
| Enterprise Multiple | 128.272 | |
| Enterprise Multiple QoQ | -39.525 % | |
| Enterprise Multiple YoY | -55.851 % | |
| Enterprise Multiple IPRWA | high: 178.043 PDFS: 128.272 mean: 93.029 median: 91.699 low: -238.397 |
|
| EV/R | 17.832 | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 1.537 | |
| Asset To Liability | 2.862 | |
| Debt To Capital | 0.218 | |
| Debt To Assets | 0.182 | |
| Debt To Assets QoQ | -4.094 % | |
| Debt To Assets YoY | 3171.351 % | |
| Debt To Assets IPRWA | high: 0.465 median: 0.198 PDFS: 0.182 mean: 0.17 low: 0.006 |
|
| Debt To Equity | 0.279 | |
| Debt To Equity QoQ | -2.939 % | |
| Debt To Equity YoY | 3836.248 % | |
| Debt To Equity IPRWA | high: 1.221 mean: 0.422 median: 0.347 PDFS: 0.279 low: -0.599 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 3.709 | |
| Price To Book QoQ | 11.893 % | |
| Price To Book YoY | -24.628 % | |
| Price To Book IPRWA | high: 17.585 median: 14.913 mean: 13.476 PDFS: 3.709 low: -3.904 |
|
| Price To Earnings (P/E) | 39.123 | |
| Price To Earnings QoQ | -65.896 % | |
| Price To Earnings YoY | -67.96 % | |
| Price To Earnings IPRWA | high: 286.125 mean: 121.692 median: 115.727 PDFS: 39.123 low: -348.115 |
|
| PE/G Ratio | 0.165 | |
| Price To Sales (P/S) | 17.169 | |
| Price To Sales QoQ | 4.04 % | |
| Price To Sales YoY | -32.664 % | |
| Price To Sales IPRWA | high: 64.674 median: 41.776 mean: 34.925 PDFS: 17.169 low: 1.791 |
|
| FORWARD MULTIPLES | ||
| Forward P/E | 85.911 | |
| Forward PE/G | 0.363 | |
| Forward P/S | 9.076 | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | 24.953 | |
| ASSET & SALES | ||
| Asset Turnover Ratio | 0.143 | |
| Asset Turnover Ratio QoQ | 8.139 % | |
| Asset Turnover Ratio YoY | -6.587 % | |
| Asset Turnover Ratio IPRWA | high: 0.351 median: 0.198 mean: 0.193 PDFS: 0.143 low: 0.0 |
|
| Receivables Turnover | 0.792 | |
| Receivables Turnover Ratio QoQ | 1.782 % | |
| Receivables Turnover Ratio YoY | -12.035 % | |
| Receivables Turnover Ratio IPRWA | high: 2.511 median: 1.451 mean: 1.417 PDFS: 0.792 low: 0.591 |
|
| Inventory Turnover | — | |
| Inventory Turnover Ratio QoQ | — | |
| Inventory Turnover Ratio YoY | — | |
| Inventory Turnover Ratio IPRWA | — | |
| Days Sales Outstanding (DSO) | 115.201 | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | 50.2 | |
| Cash Conversion Cycle Days QoQ | — | |
| Cash Conversion Cycle Days YoY | — | |
| Cash Conversion Cycle Days IPRWA | high: 563.683 median: 276.99 mean: 265.084 PDFS: 50.2 low: 26.743 |
|
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | 0.714 | |
| CapEx To Revenue | -0.111 | |
| CapEx To Depreciation | -5.51 | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 329.7 M | |
| Net Invested Capital | $ 331.9 M | |
| Invested Capital | $ 331.9 M | |
| Net Tangible Assets | $ 113.4 M | |
| Net Working Capital | $ 80.0 M | |
| LIQUIDITY | ||
| Cash Ratio | 0.543 | |
| Current Ratio | 2.211 | |
| Current Ratio QoQ | -6.55 % | |
| Current Ratio YoY | -33.302 % | |
| Current Ratio IPRWA | high: 9.548 PDFS: 2.211 median: 2.207 mean: 2.164 low: 0.914 |
|
| Quick Ratio | — | |
| Quick Ratio QoQ | — | |
| Quick Ratio YoY | — | |
| Quick Ratio IPRWA | — | |
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | 9.293 | |
| Cost Of Debt | 1.323 % | |
| Interest Coverage Ratio | 3.817 | |
| Interest Coverage Ratio QoQ | 261.024 % | |
| Interest Coverage Ratio YoY | 172.154 % | |
| Interest Coverage Ratio IPRWA | high: 192.143 median: 39.833 mean: 36.249 PDFS: 3.817 low: -164.857 |
|
| Operating Cash Flow Ratio | 0.105 | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | 65.002 | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | — | |
| Dividend Payout Ratio | — | |
| Dividend Rate | — | |
| Dividend Yield | — | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | 3.903 % | |
| Revenue Growth | 10.414 % | |
| Revenue Growth QoQ | 25.971 % | |
| Revenue Growth YoY | -8.625 % | |
| Revenue Growth IPRWA | high: 45.385 % PDFS: 10.414 % median: 1.101 % mean: 0.902 % low: -45.156 % |
|
| Earnings Growth | 236.842 % | |
| Earnings Growth QoQ | -2586.791 % | |
| Earnings Growth YoY | 509.021 % | |
| Earnings Growth IPRWA | PDFS: 236.842 % high: 133.333 % mean: -2.314 % median: -6.077 % low: -200.0 % |
|
| MARGINS | ||
| Gross Margin | 72.266 % | |
| Gross Margin QoQ | 1.464 % | |
| Gross Margin YoY | -1.141 % | |
| Gross Margin IPRWA | high: 89.855 % PDFS: 72.266 % mean: 52.195 % median: 51.627 % low: 4.626 % |
|
| EBIT Margin | 8.273 % | |
| EBIT Margin QoQ | 225.965 % | |
| EBIT Margin YoY | 81.187 % | |
| EBIT Margin IPRWA | high: 43.012 % median: 35.717 % mean: 33.952 % PDFS: 8.273 % low: -46.404 % |
|
| Return On Sales (ROS) | 8.451 % | |
| Return On Sales QoQ | 291.431 % | |
| Return On Sales YoY | 85.085 % | |
| Return On Sales IPRWA | high: 41.661 % median: 32.842 % mean: 32.558 % PDFS: 8.451 % low: -50.057 % |
|
| CASH FLOW | ||
| Free Cash Flow (FCF) | $ -3.04 M | |
| Free Cash Flow Yield | -0.31 % | |
| Free Cash Flow Yield QoQ | -80.745 % | |
| Free Cash Flow Yield YoY | -178.283 % | |
| Free Cash Flow Yield IPRWA | high: 3.193 % median: 0.795 % mean: 0.64 % PDFS: -0.31 % low: -2.559 % |
|
| Free Cash Growth | -77.891 % | |
| Free Cash Growth QoQ | -97.599 % | |
| Free Cash Growth YoY | -61.238 % | |
| Free Cash Growth IPRWA | high: 288.936 % mean: -1.584 % median: -31.87 % PDFS: -77.891 % low: -368.087 % |
|
| Free Cash To Net Income | -2.348 | |
| Cash Flow Margin | 12.119 % | |
| Cash Flow To Earnings | 5.349 | |
| VALUE & RETURNS | ||
| Economic Value Added | $ 0.04 | |
| Return On Assets (ROA) | 0.325 % | |
| Return On Assets QoQ | 10.922 % | |
| Return On Assets YoY | -55.418 % | |
| Return On Assets IPRWA | high: 7.255 % mean: 5.347 % median: 5.244 % PDFS: 0.325 % low: -8.379 % |
|
| Return On Capital Employed (ROCE) | 1.388 % | |
| Return On Equity (ROE) | 0.005 | |
| Return On Equity QoQ | 9.888 % | |
| Return On Equity YoY | -46.674 % | |
| Return On Equity IPRWA | high: 0.225 mean: 0.126 median: 0.112 PDFS: 0.005 low: -0.16 |
|
| DuPont ROE | 0.496 % | |
| Return On Invested Capital (ROIC) | 1.125 % | |
| Return On Invested Capital QoQ | 252.665 % | |
| Return On Invested Capital YoY | -203.496 % | |
| Return On Invested Capital IPRWA | high: 10.936 % median: 10.871 % mean: 8.606 % PDFS: 1.125 % low: -2.31 % |
|