Recent News
On May 21, 2026 the board authorized a share repurchase program of up to 685,000 shares (roughly 5% of outstanding shares). On May 27, 2026 a federal court decision affirmed the fintech partnership model relevant to the company’s lender relationships. The company also announced a second-quarter 2026 earnings conference call and webcast to occur after market close on July 29, 2026.
Technical Analysis
Directional indicators show low trend strength: ADX at 11.69 indicates no established trend, limiting conviction for directional trades. DI+ registered a dip-and-reversal while DI− shows a peak-and-reversal; that combination implies bullish pressure from buyers attempting a recovery but with recent increases in downside pressure.
MACD sits negative at −0.11 while the signal line equals −0.07; the MACD trend shows a dip-and-reversal, suggesting a nascent shift toward bullish momentum, though the MACD has not yet crossed above its signal line — a cross would strengthen bullish momentum conviction.
MRO reads 23.09 with a dip-and-reversal trend. Because MRO currently remains positive, price sits above the target level implied by momentum, which suggests limited immediate upside before mean reversion pressure; the recent dip-and-reversal in MRO signals the potential for momentum to slow.
RSI at 45.41 and trending downward indicates neutral-to-slightly-weak momentum; the indicator sits below the midline and does not signal oversold conditions. Price trades near short-term averages (20‑day average $14.30; 50‑day average $14.10) and below the 200‑day average ($16.62), positioning the stock in a lower-longer-term-biased range while short-term averages compress near current price. Bollinger bands remain narrow, reflecting subdued volatility.
Fundamental Analysis
Earnings and cash-flow: GAAP EPS for the reported period equals $0.20 versus an estimate of $0.32, representing an EPS surprise of −37.5%. Net income totaled $2,735,000 and operating cash flow approximated $19,709,000; free cash flow registered $19,688,000, producing a free cash flow yield of 8.66% and a free cash flow to net income ratio near 7.20x. The combination of a material EPS miss and positive free cash flow indicates operational cash generation outpacing near-term accounting earnings.
Profitability ratios show constrained returns: return on assets equals 0.29% and return on equity equals 1.39%, both lower than typical high-performing bank peers and declining on a quarter-over-quarter basis (ROA QoQ −30.22%, ROE QoQ −31.34%). Earnings growth registered −25.93% YoY, while earnings growth QoQ improved 25.93% sequentially.
Top-line and efficiency: total revenue reached $42,717,000 with YoY revenue growth of 55.51% but a sequential revenue change of −94.78% QoQ per the reported metric; receivables turnover stands at 11.76 and asset turnover at 4.55%, with asset turnover above the industry peer mean and median provided. Net interest income totaled $28,090,000 while interest expense equaled $5,451,000, leaving net interest dynamics as a central driver of margin.
Valuation context: price-to-book equals 1.16, slightly above the industry peer mean of 1.12 and near the industry peer median of 0.998. Price-to-earnings equals 82.96, notably above the industry peer mean (≈38.68) and above the reported industry peer high (≈78.23). Forward P/E equals 37.81, modestly above the industry peer mean forward P/E (≈31.57). Free cash flow yield of 8.66% sits above the industry peer mean free cash flow yield (≈3.09%). WMDST values the stock as fair-valued.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2026-03-31 |
| REPORT DATE: | 2026-04-30 |
| NEXT REPORT DATE: | 2026-07-30 |
| CASH FLOW | Begin Period Cash Flow | $ 163.4 M |
| Operating Cash Flow | $ 19.7 M | |
| Capital Expenditures | $ -21.00 K | |
| Change In Working Capital | $ -6.17 M | |
| Dividends Paid | — | |
| Cash Flow Delta | $ -66.45 M | |
| End Period Cash Flow | $ 96.9 M | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | $ 42.7 M | |
| Forward Revenue | $ 23.8 M | |
| COSTS | ||
| Cost Of Revenue | — | |
| Depreciation | $ 1.1 M | |
| Depreciation and Amortization | $ 1.1 M | |
| Research and Development | — | |
| Total Operating Expenses | — | |
| PROFITABILITY | ||
| Gross Profit | — | |
| EBITDA | — | |
| EBIT | — | |
| Operating Income | — | |
| Interest Income | $ 33.5 M | |
| Interest Expense | $ 5.5 M | |
| Net Interest Income | $ 28.1 M | |
| Income Before Tax | $ 3.8 M | |
| Tax Provision | $ 1.1 M | |
| Tax Rate | 27.988 % | |
| Net Income | $ 2.7 M | |
| Net Income From Continuing Operations | $ 2.7 M | |
| EARNINGS | ||
| EPS Estimate | $ 0.32 | |
| EPS Actual | $ 0.20 | |
| EPS Difference | $ -0.12 | |
| EPS Surprise | -37.5 % | |
| Forward EPS | $ 0.45 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 899.4 M | |
| Intangible Assets | — | |
| Net Tangible Assets | $ 196.6 M | |
| Total Current Assets | — | |
| Cash and Short-Term Investments | — | |
| Cash | $ 96.9 M | |
| Net Receivables | $ 3.6 M | |
| Inventory | — | |
| Long-Term Investments | — | |
| LIABILITIES | ||
| Accounts Payable | $ 2.2 M | |
| Short-Term Debt | — | |
| Total Current Liabilities | — | |
| Net Debt | — | |
| Total Debt | — | |
| Total Liabilities | $ 702.8 M | |
| EQUITY | ||
| Total Equity | $ 196.6 M | |
| Retained Earnings | $ 134.8 M | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 14.34 | |
| Shares Outstanding | 13.707 M | |
| Revenue Per-Share | $ 3.12 | |
| VALUATION | Market Capitalization | $ 227.4 M |
| Enterprise Value | — | |
| Enterprise Multiple | — | |
| Enterprise Multiple QoQ | — | |
| Enterprise Multiple YoY | — | |
| Enterprise Multiple IPRWA | — | |
| EV/R | — | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 4.575 | |
| Asset To Liability | 1.28 | |
| Debt To Capital | — | |
| Debt To Assets | — | |
| Debt To Assets QoQ | — | |
| Debt To Assets YoY | — | |
| Debt To Assets IPRWA | — | |
| Debt To Equity | — | |
| Debt To Equity QoQ | — | |
| Debt To Equity YoY | — | |
| Debt To Equity IPRWA | — | |
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 1.157 | |
| Price To Book QoQ | -9.481 % | |
| Price To Book YoY | -6.269 % | |
| Price To Book IPRWA | high: 2.252 FINW: 1.157 mean: 1.117 median: 0.998 low: 0.488 |
|
| Price To Earnings (P/E) | 82.962 | |
| Price To Earnings QoQ | 23.899 % | |
| Price To Earnings YoY | 15.218 % | |
| Price To Earnings IPRWA | FINW: 82.962 high: 78.227 mean: 38.677 median: 36.548 low: 25.695 |
|
| PE/G Ratio | -3.2 | |
| Price To Sales (P/S) | 5.324 | |
| Price To Sales QoQ | -19.607 % | |
| Price To Sales YoY | -46.27 % | |
| Price To Sales IPRWA | high: 27.157 mean: 11.346 median: 11.231 FINW: 5.324 low: 1.382 |
|
| FORWARD MULTIPLES | ||
| Forward P/E | 37.809 | |
| Forward PE/G | -1.458 | |
| Forward P/S | 9.549 | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | — | |
| ASSET & SALES | ||
| Asset Turnover Ratio | 0.046 | |
| Asset Turnover Ratio QoQ | 14.627 % | |
| Asset Turnover Ratio YoY | 59.754 % | |
| Asset Turnover Ratio IPRWA | FINW: 0.046 high: 0.017 mean: 0.01 median: 0.01 low: 0.001 |
|
| Receivables Turnover | 11.765 | |
| Receivables Turnover Ratio QoQ | -10.598 % | |
| Receivables Turnover Ratio YoY | 67.068 % | |
| Receivables Turnover Ratio IPRWA | FINW: 11.765 high: 3.934 median: 2.178 mean: 2.103 low: 0.48 |
|
| Inventory Turnover | — | |
| Inventory Turnover Ratio QoQ | — | |
| Inventory Turnover Ratio YoY | — | |
| Inventory Turnover Ratio IPRWA | — | |
| Days Sales Outstanding (DSO) | 7.756 | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | — | |
| Cash Conversion Cycle Days QoQ | — | |
| Cash Conversion Cycle Days YoY | — | |
| Cash Conversion Cycle Days IPRWA | high: 79.854 median: 62.516 mean: 58.112 low: 34.355 FINW: 0 |
|
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | — | |
| CapEx To Revenue | -0.0 | |
| CapEx To Depreciation | -0.018 | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 942.2 M | |
| Net Invested Capital | — | |
| Invested Capital | $ -111.83 M | |
| Net Tangible Assets | $ 196.6 M | |
| Net Working Capital | — | |
| LIQUIDITY | ||
| Cash Ratio | — | |
| Current Ratio | — | |
| Current Ratio QoQ | — | |
| Current Ratio YoY | — | |
| Current Ratio IPRWA | — | |
| Quick Ratio | — | |
| Quick Ratio QoQ | — | |
| Quick Ratio YoY | — | |
| Quick Ratio IPRWA | — | |
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | — | |
| Cost Of Debt | 88.939 % | |
| Interest Coverage Ratio | — | |
| Interest Coverage Ratio QoQ | — | |
| Interest Coverage Ratio YoY | — | |
| Interest Coverage Ratio IPRWA | — | |
| Operating Cash Flow Ratio | — | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | — | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | — | |
| Dividend Payout Ratio | — | |
| Dividend Rate | — | |
| Dividend Yield | — | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | -7.951 % | |
| Revenue Growth | 2.387 % | |
| Revenue Growth QoQ | -94.779 % | |
| Revenue Growth YoY | 55.505 % | |
| Revenue Growth IPRWA | high: 17.724 % FINW: 2.387 % mean: 0.986 % median: 0.603 % low: -18.037 % |
|
| Earnings Growth | -25.926 % | |
| Earnings Growth QoQ | 25.928 % | |
| Earnings Growth YoY | -272.84 % | |
| Earnings Growth IPRWA | high: 16.667 % mean: 1.929 % median: 1.835 % FINW: -25.926 % low: -36.066 % |
|
| MARGINS | ||
| Gross Margin | — | |
| Gross Margin QoQ | — | |
| Gross Margin YoY | — | |
| Gross Margin IPRWA | — | |
| EBIT Margin | — | |
| EBIT Margin QoQ | — | |
| EBIT Margin YoY | — | |
| EBIT Margin IPRWA | — | |
| Return On Sales (ROS) | — | |
| Return On Sales QoQ | — | |
| Return On Sales YoY | — | |
| Return On Sales IPRWA | — | |
| CASH FLOW | ||
| Free Cash Flow (FCF) | $ 19.7 M | |
| Free Cash Flow Yield | 8.657 % | |
| Free Cash Flow Yield QoQ | 164.821 % | |
| Free Cash Flow Yield YoY | -181.501 % | |
| Free Cash Flow Yield IPRWA | high: 9.889 % FINW: 8.657 % median: 3.439 % mean: 3.093 % low: -3.242 % |
|
| Free Cash Growth | 143.935 % | |
| Free Cash Growth QoQ | 44.757 % | |
| Free Cash Growth YoY | -103.574 % | |
| Free Cash Growth IPRWA | high: 223.01 % FINW: 143.935 % median: -56.573 % mean: -80.892 % low: -365.339 % |
|
| Free Cash To Net Income | 7.199 | |
| Cash Flow Margin | 8.493 % | |
| Cash Flow To Earnings | 1.327 | |
| VALUE & RETURNS | ||
| Economic Value Added | — | |
| Return On Assets (ROA) | 0.291 % | |
| Return On Assets QoQ | -30.216 % | |
| Return On Assets YoY | -29.197 % | |
| Return On Assets IPRWA | high: 0.624 % FINW: 0.291 % mean: 0.27 % median: 0.252 % low: -0.225 % |
|
| Return On Capital Employed (ROCE) | — | |
| Return On Equity (ROE) | 0.014 | |
| Return On Equity QoQ | -31.343 % | |
| Return On Equity YoY | -22.636 % | |
| Return On Equity IPRWA | high: 0.045 median: 0.024 mean: 0.019 FINW: 0.014 low: -0.037 |
|
| DuPont ROE | 1.403 % | |
| Return On Invested Capital (ROIC) | — | |
| Return On Invested Capital QoQ | — | |
| Return On Invested Capital YoY | — | |
| Return On Invested Capital IPRWA | — | |