Recent News
On March 9th the company announced a CEO transition, naming Siddhartha Kadia as President and CEO with the prior CEO stepping down in April. On May 5th the company stated it will release fourth-quarter and full fiscal-year results on May 27th, 2026; the announcement schedules the public release of performance and guidance data for the fiscal year ending March 31, 2026.
Technical Analysis
ADX / DI+ / DI-: ADX at 16.64 indicates no established trend; DI+ decreasing signals weakening directional bullishness while DI- dip & reversal indicates increasing downside pressure. Together, the directional indicators imply momentum favors sellers despite the lack of a strong trend.
MACD: MACD sits at 3.20 with the MACD signal at 3.17, so the line currently rests marginally above its signal; the MACD trend shows a peak & reversal, which signals bearish momentum despite the small cross above the signal line.
MRO (Momentum/Regression Oscillator): MRO at 3.3 (positive) indicates price sits slightly above the modeled target and therefore carries mild downside potential back toward that target over the near term.
RSI: RSI 58.29 with a peak & reversal indicates fading upside momentum; the oscillator remains below overbought extremes but the recent reversal favors short-term weakness.
Price vs Moving Averages and Cloud: Price closed at $102.89, above the 20-day average ($101.38), 50-day average ($92.24), and 200-day average ($80.37); the 12-day EMA shows an increasing trajectory. Ichimoku Tenkan above Kijun and the price above both lines provide structural support, but momentum indicators point to potential pullback from the current level rather than continuation of an aggressive uptrend.
Bollinger Bands & Volatility: Price trades inside the 1x Bollinger band range (lower $97.61 / upper $105.15) and nearer the upper band, implying reduced immediate upside room and a higher probability of mean reversion back toward the band center if momentum deteriorates.
Fundamental Analysis
Profitability & Margins: Operating margin stands at 12.245% and EBIT margin at 11.719%. EBIT margin sits below the industry peer mean of 20.729%, indicating lower relative operating profitability versus typical peers. Gross margin equals 64.176%, which sits above the industry peer mean (61.854%) and closely tracks the industry peer median (64.538%), supporting solid product-level margins.
Earnings & Surprise: Reported EPS equaled $1.76 versus an estimate of $1.47, a positive surprise of $0.29 or approximately 19.73%, which improves near-term earnings credibility and supports forward multiple considerations.
Cash Flow & Balance Sheet: Operating cash flow reached $18,754,000 with free cash flow of $18,022,000 and a free cash flow yield of 4.07%, above the industry peer mean free cash flow yield of 0.969%. Cash and short-term investments total $28,975,000 while net debt equals $137,152,000, producing a debt-to-EBITDA of 13.56—elevated leverage relative to operating cash generation and a notable constraint on financial flexibility.
Liquidity & Working Capital: Current ratio of 1.94 and quick ratio of 1.45 provide coverage for near-term obligations. Cash conversion cycle at ~142 days remains long but improved slightly QoQ and YoY, indicating inventory and receivables management still consume working capital.
Growth and Returns: Total revenue equals $65,126,000 with reported revenue growth of 7.23% year-over-year. Return on equity of 1.94% and return on assets of 0.84% remain modest, reflecting substantial intangible assets and retained losses on the balance sheet. WMDST places the current valuation as under-valued, supported by above-mean free cash flow yield and the company’s positive EPS surprise, but leverage metrics and below-peer EBIT margin temper the fundamental case.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2025-12-31 |
| REPORT DATE: | 2026-02-03 |
| NEXT REPORT DATE: | 2026-05-05 |
| CASH FLOW | Begin Period Cash Flow | $ 20.4 M |
| Operating Cash Flow | $ 18.8 M | |
| Capital Expenditures | $ -732.00 K | |
| Change In Working Capital | $ 4.5 M | |
| Dividends Paid | $ -884.00 K | |
| Cash Flow Delta | $ 8.6 M | |
| End Period Cash Flow | $ 29.0 M | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | $ 65.1 M | |
| Forward Revenue | $ 33.4 M | |
| COSTS | ||
| Cost Of Revenue | $ 23.3 M | |
| Depreciation | $ 1.3 M | |
| Depreciation and Amortization | $ 5.7 M | |
| Research and Development | $ 5.0 M | |
| Total Operating Expenses | $ 57.2 M | |
| PROFITABILITY | ||
| Gross Profit | $ 41.8 M | |
| EBITDA | $ 13.3 M | |
| EBIT | $ 7.6 M | |
| Operating Income | $ 8.0 M | |
| Interest Income | — | |
| Interest Expense | $ 3.0 M | |
| Net Interest Income | $ -3.04 M | |
| Income Before Tax | $ 4.6 M | |
| Tax Provision | $ 966.0 K | |
| Tax Rate | 21.0 % | |
| Net Income | $ 3.6 M | |
| Net Income From Continuing Operations | $ 3.6 M | |
| EARNINGS | ||
| EPS Estimate | $ 1.47 | |
| EPS Actual | $ 1.76 | |
| EPS Difference | $ 0.29 | |
| EPS Surprise | 19.728 % | |
| Forward EPS | $ 1.35 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 434.8 M | |
| Intangible Assets | $ 278.9 M | |
| Net Tangible Assets | $ -92.26 M | |
| Total Current Assets | $ 105.6 M | |
| Cash and Short-Term Investments | $ 29.0 M | |
| Cash | $ 29.0 M | |
| Net Receivables | $ 40.2 M | |
| Inventory | $ 26.6 M | |
| Long-Term Investments | $ 17.2 M | |
| LIABILITIES | ||
| Accounts Payable | $ 5.3 M | |
| Short-Term Debt | $ 5.2 M | |
| Total Current Liabilities | $ 54.4 M | |
| Net Debt | $ 137.2 M | |
| Total Debt | $ 181.0 M | |
| Total Liabilities | $ 248.2 M | |
| EQUITY | ||
| Total Equity | $ 186.7 M | |
| Retained Earnings | $ -180.73 M | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 33.79 | |
| Shares Outstanding | 5.525 M | |
| Revenue Per-Share | $ 11.79 | |
| VALUATION | Market Capitalization | $ 442.5 M |
| Enterprise Value | $ 594.5 M | |
| Enterprise Multiple | 44.543 | |
| Enterprise Multiple QoQ | -17.325 % | |
| Enterprise Multiple YoY | -65.041 % | |
| Enterprise Multiple IPRWA | high: 158.913 mean: 79.818 median: 68.596 MLAB: 44.543 low: -144.328 |
|
| EV/R | 9.129 | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 2.329 | |
| Asset To Liability | 1.752 | |
| Debt To Capital | 0.492 | |
| Debt To Assets | 0.416 | |
| Debt To Assets QoQ | -5.946 % | |
| Debt To Assets YoY | 80.294 % | |
| Debt To Assets IPRWA | high: 0.828 MLAB: 0.416 mean: 0.28 median: 0.262 low: 0.002 |
|
| Debt To Equity | 0.969 | |
| Debt To Equity QoQ | -9.15 % | |
| Debt To Equity YoY | 49.104 % | |
| Debt To Equity IPRWA | high: 3.261 MLAB: 0.969 mean: 0.563 median: 0.481 low: -1.334 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 2.37 | |
| Price To Book QoQ | 3.932 % | |
| Price To Book YoY | -48.189 % | |
| Price To Book IPRWA | high: 15.074 mean: 5.977 median: 5.854 MLAB: 2.37 low: -0.373 |
|
| Price To Earnings (P/E) | 45.508 | |
| Price To Earnings QoQ | 29.79 % | |
| Price To Earnings YoY | -109.054 % | |
| Price To Earnings IPRWA | high: 269.298 mean: 117.414 median: 101.834 MLAB: 45.508 low: -228.062 |
|
| PE/G Ratio | 0.156 | |
| Price To Sales (P/S) | 6.795 | |
| Price To Sales QoQ | 1.394 % | |
| Price To Sales YoY | -39.869 % | |
| Price To Sales IPRWA | high: 52.884 median: 21.078 mean: 19.482 MLAB: 6.795 low: -13.339 |
|
| FORWARD MULTIPLES | ||
| Forward P/E | 57.092 | |
| Forward PE/G | 0.196 | |
| Forward P/S | 13.252 | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | 7.889 | |
| ASSET & SALES | ||
| Asset Turnover Ratio | 0.151 | |
| Asset Turnover Ratio QoQ | 7.344 % | |
| Asset Turnover Ratio YoY | 6.758 % | |
| Asset Turnover Ratio IPRWA | high: 0.512 MLAB: 0.151 median: 0.144 mean: 0.129 low: -0.209 |
|
| Receivables Turnover | 1.622 | |
| Receivables Turnover Ratio QoQ | 5.671 % | |
| Receivables Turnover Ratio YoY | 1.774 % | |
| Receivables Turnover Ratio IPRWA | high: 2.907 mean: 1.845 median: 1.837 MLAB: 1.622 low: 0.47 |
|
| Inventory Turnover | 0.859 | |
| Inventory Turnover Ratio QoQ | 2.52 % | |
| Inventory Turnover Ratio YoY | 7.69 % | |
| Inventory Turnover Ratio IPRWA | high: 2.05 MLAB: 0.859 mean: 0.706 median: 0.548 low: 0.16 |
|
| Days Sales Outstanding (DSO) | 56.273 | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | 141.954 | |
| Cash Conversion Cycle Days QoQ | -4.892 % | |
| Cash Conversion Cycle Days YoY | -8.238 % | |
| Cash Conversion Cycle Days IPRWA | high: 453.393 median: 165.533 mean: 164.819 MLAB: 141.954 low: -118.454 |
|
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | 1.271 | |
| CapEx To Revenue | -0.011 | |
| CapEx To Depreciation | -0.576 | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 347.7 M | |
| Net Invested Capital | $ 352.8 M | |
| Invested Capital | $ 352.8 M | |
| Net Tangible Assets | $ -92.26 M | |
| Net Working Capital | $ 51.2 M | |
| LIQUIDITY | ||
| Cash Ratio | 0.533 | |
| Current Ratio | 1.942 | |
| Current Ratio QoQ | -3.743 % | |
| Current Ratio YoY | 173.09 % | |
| Current Ratio IPRWA | high: 20.133 mean: 2.632 MLAB: 1.942 median: 1.893 low: 0.042 |
|
| Quick Ratio | 1.454 | |
| Quick Ratio QoQ | 0.734 % | |
| Quick Ratio YoY | 173.923 % | |
| Quick Ratio IPRWA | high: 12.347 mean: 1.986 MLAB: 1.454 median: 1.434 low: 0.366 |
|
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | 13.56 | |
| Cost Of Debt | 1.291 % | |
| Interest Coverage Ratio | 2.514 | |
| Interest Coverage Ratio QoQ | 48.006 % | |
| Interest Coverage Ratio YoY | 1043.066 % | |
| Interest Coverage Ratio IPRWA | high: 82.119 median: 25.964 mean: 22.333 MLAB: 2.514 low: -107.569 |
|
| Operating Cash Flow Ratio | 0.194 | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | 20.161 | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | 4.106 | |
| Dividend Payout Ratio | 0.244 | |
| Dividend Rate | $ 0.16 | |
| Dividend Yield | 0.002 | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | 1.045 % | |
| Revenue Growth | 7.226 % | |
| Revenue Growth QoQ | 260.399 % | |
| Revenue Growth YoY | -16.54 % | |
| Revenue Growth IPRWA | high: 54.001 % median: 12.969 % mean: 10.016 % MLAB: 7.226 % low: -28.254 % |
|
| Earnings Growth | 291.111 % | |
| Earnings Growth QoQ | 2279.524 % | |
| Earnings Growth YoY | -319.706 % | |
| Earnings Growth IPRWA | MLAB: 291.111 % high: 188.889 % mean: 9.571 % median: 6.667 % low: -142.105 % |
|
| MARGINS | ||
| Gross Margin | 64.176 % | |
| Gross Margin QoQ | 4.414 % | |
| Gross Margin YoY | 1.445 % | |
| Gross Margin IPRWA | high: 96.557 % median: 64.538 % MLAB: 64.176 % mean: 61.854 % low: -16.207 % |
|
| EBIT Margin | 11.719 % | |
| EBIT Margin QoQ | 46.433 % | |
| EBIT Margin YoY | 1077.789 % | |
| EBIT Margin IPRWA | high: 33.51 % median: 20.883 % mean: 20.729 % MLAB: 11.719 % low: -144.871 % |
|
| Return On Sales (ROS) | 12.245 % | |
| Return On Sales QoQ | 57.431 % | |
| Return On Sales YoY | 1130.653 % | |
| Return On Sales IPRWA | high: 35.479 % median: 21.965 % mean: 21.778 % MLAB: 12.245 % low: -169.778 % |
|
| CASH FLOW | ||
| Free Cash Flow (FCF) | $ 18.0 M | |
| Free Cash Flow Yield | 4.073 % | |
| Free Cash Flow Yield QoQ | 132.477 % | |
| Free Cash Flow Yield YoY | 64.102 % | |
| Free Cash Flow Yield IPRWA | high: 7.186 % MLAB: 4.073 % mean: 0.969 % median: 0.969 % low: -18.365 % |
|
| Free Cash Growth | 152.763 % | |
| Free Cash Growth QoQ | -78.379 % | |
| Free Cash Growth YoY | -62.379 % | |
| Free Cash Growth IPRWA | high: 265.331 % MLAB: 152.763 % mean: 5.673 % median: -0.761 % low: -358.281 % |
|
| Free Cash To Net Income | 4.965 | |
| Cash Flow Margin | 16.195 % | |
| Cash Flow To Earnings | 2.906 | |
| VALUE & RETURNS | ||
| Economic Value Added | $ 0.03 | |
| Return On Assets (ROA) | 0.839 % | |
| Return On Assets QoQ | 46.678 % | |
| Return On Assets YoY | -323.138 % | |
| Return On Assets IPRWA | high: 15.87 % mean: 2.058 % median: 1.613 % MLAB: 0.839 % low: -29.663 % |
|
| Return On Capital Employed (ROCE) | 2.006 % | |
| Return On Equity (ROE) | 0.019 | |
| Return On Equity QoQ | 40.159 % | |
| Return On Equity YoY | -280.0 % | |
| Return On Equity IPRWA | high: 0.357 median: 0.034 mean: 0.033 MLAB: 0.019 low: -0.518 |
|
| DuPont ROE | 1.988 % | |
| Return On Invested Capital (ROIC) | 1.708 % | |
| Return On Invested Capital QoQ | 57.13 % | |
| Return On Invested Capital YoY | 153.037 % | |
| Return On Invested Capital IPRWA | high: 6.787 % mean: 2.839 % median: 2.587 % MLAB: 1.708 % low: -14.233 % |
|