Recent News
On March 16, 2026 the company published a 2026 product roadmap emphasizing maps-driven discovery, pilot travel integrations and a U.S. Health Center initiative. On February 21, 2026 controlling shareholders submitted a buyout proposal that set a $3.5 billion valuation target for the company, drawing market attention. The company also issued an investor letter in early March reporting full-year commentary tied to 2025 results.
Technical Analysis
Directional indicators show a resolvable trend: ADX reads 26.48, indicating a strong underlying trend strength without directionality by itself. DI+ sits at 26.15 and DI- at 14.20; both show a peak-and-reversal pattern, which signals that prior directional conviction has rolled over and favors near-term downward bias from the prior DI+ strength.
MACD currently reads 0.34 with a signal at 0.30, placing MACD above its signal line; however the MACD trend shows a peak-and-reversal, which indicates bearish momentum as the prior bullish impulse loses force.
MRO registers 13.24 on the positive side, indicating price sits above the WMDST target and implies a bias toward downward pressure; the MRO trend’s peak-and-reversal further supports a fading upside potential.
RSI stands at 55.24 and rising, reflecting modest bullish momentum but not overbought conditions; that rising RSI can support short-lived upside provided momentum indicators stop deteriorating.
Price structure shows the close at $13.29, above the 20-day average ($13.10) and the 50-day average ($12.24) while remaining below the 200-day average ($13.85), a setup that favors near-term mean-reversion attempts but keeps the longer-term bias capped. The 12-day EMA (price12dayEMA) trends higher and the SuperTrend lower support sits at $12.66; Bollinger bands place the 1x upper at $13.56 and lower at $12.64, indicating a relatively tight volatility range.
Volume measures show current session volume (~867,740) below its 10- and 50-day averages, implying limited participation behind recent moves. Short-term beta (42-day) at 0.34 and 52-week beta at 0.58 indicate muted systematic sensitivity versus the market.
Fundamental Analysis
Revenue dynamics: WMDST notes a reported company statement tied to fiscal 2025 results; the firm also shows numeric growth metrics: revenue growth of 8.82% (labelled revenueGrowth) alongside revenue growth year-over-year of -5.05% and quarter-over-quarter revenue change of -20.40%. The mixed growth signals require reconciling reporting horizons, but the available metrics show deceleration on a sequential basis.
Profitability: Gross margin stands at 74.84% and operating margin at 24.85%, with an EBIT margin of 24.90%. The EBIT margin sits below the industry peer mean of 34.08% and below the industry peer median of 33.92%, indicating lower operating conversion versus peers despite healthy gross profitability. QoQ EBIT margin contracted roughly 35.35% and YoY EBIT margin declined ~120.42% on the metric labelled EBITmarginYoY, reflecting significant margin compression on comparable periods.
Cash and liquidity: Cash and short-term investments total $87,045,000 with a cash ratio of 1.02 and a current ratio of 1.96, supporting near-term liquidity. Net debt reads $308,814,000 and total debt $400,588,000, producing a debt-to-assets ratio of 75.44% and debt-to-equity of 852.21%, both materially above the industry peer means and medians, signaling a leverage profile that materially increases capital structure risk relative to peers.
Cash flow and returns: Operating cash flow equals $24,758,000 and free cash flow $21,856,000, producing a free cash flow yield of 0.97%, which sits above the industry peer mean free cash flow yield of 0.58%. Return on equity measures 43.10% while return on assets reads 4.18%, reflecting a highly levered equity base that amplifies ROE despite modest asset returns. Earnings per share registered $0.11 versus an estimate of $0.12, an EPS surprise of -8.33%.
Valuation: WMDST values the stock as over-valued. Key multiples show a P/E of 121.25 and a price-to-sales ratio of 17.81; the enterprise multiple sits at 78.87 while EVR registers 20.30. Price-to-book runs at 47.73, substantially above the industry peer mean book multiple. Forward P/E sits near 74.05. These elevated multiples, combined with high leverage and mixed growth signals, underpin the WMDST over-valuation determination.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2025-12-31 |
| REPORT DATE: | 2026-03-02 |
| NEXT REPORT DATE: | 2026-06-01 |
| CASH FLOW | Begin Period Cash Flow | $ 6.9 M |
| Operating Cash Flow | $ 24.8 M | |
| Capital Expenditures | $ -2.90 M | |
| Change In Working Capital | $ -21.25 M | |
| Dividends Paid | — | |
| Cash Flow Delta | $ 80.7 M | |
| End Period Cash Flow | $ 87.7 M | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | $ 126.0 M | |
| Forward Revenue | $ 54.6 M | |
| COSTS | ||
| Cost Of Revenue | $ 31.7 M | |
| Depreciation | $ 1.1 M | |
| Depreciation and Amortization | $ 1.1 M | |
| Research and Development | $ 14.6 M | |
| Total Operating Expenses | $ 94.7 M | |
| PROFITABILITY | ||
| Gross Profit | $ 94.3 M | |
| EBITDA | $ 32.4 M | |
| EBIT | $ 31.4 M | |
| Operating Income | $ 31.3 M | |
| Interest Income | — | |
| Interest Expense | $ 5.5 M | |
| Net Interest Income | $ -5.54 M | |
| Income Before Tax | $ 25.8 M | |
| Tax Provision | $ 5.6 M | |
| Tax Rate | 21.57 % | |
| Net Income | $ 20.3 M | |
| Net Income From Continuing Operations | $ 20.3 M | |
| EARNINGS | ||
| EPS Estimate | $ 0.12 | |
| EPS Actual | $ 0.11 | |
| EPS Difference | $ -0.01 | |
| EPS Surprise | -8.333 % | |
| Forward EPS | $ 0.19 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 531.0 M | |
| Intangible Assets | $ 354.5 M | |
| Net Tangible Assets | $ -307.53 M | |
| Total Current Assets | $ 166.0 M | |
| Cash and Short-Term Investments | $ 87.0 M | |
| Cash | $ 87.0 M | |
| Net Receivables | $ 67.9 M | |
| Inventory | — | |
| Long-Term Investments | $ 4.6 M | |
| LIABILITIES | ||
| Accounts Payable | $ 1.7 M | |
| Short-Term Debt | $ 20.0 M | |
| Total Current Liabilities | $ 84.9 M | |
| Net Debt | $ 308.8 M | |
| Total Debt | $ 400.6 M | |
| Total Liabilities | $ 484.0 M | |
| EQUITY | ||
| Total Equity | $ 47.0 M | |
| Retained Earnings | $ -97.06 M | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 0.25 | |
| Shares Outstanding | 185.035 M | |
| Revenue Per-Share | $ 0.68 | |
| VALUATION | Market Capitalization | $ 2.2 B |
| Enterprise Value | $ 2.6 B | |
| Enterprise Multiple | 78.869 | |
| Enterprise Multiple QoQ | 17.8 % | |
| Enterprise Multiple YoY | -402.007 % | |
| Enterprise Multiple IPRWA | high: 172.49 median: 80.873 GRND: 78.869 mean: 77.153 low: -131.235 |
|
| EV/R | 20.298 | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 11.297 | |
| Asset To Liability | 1.097 | |
| Debt To Capital | 0.895 | |
| Debt To Assets | 0.754 | |
| Debt To Assets QoQ | 16.97 % | |
| Debt To Assets YoY | 2309.326 % | |
| Debt To Assets IPRWA | high: 0.935 GRND: 0.754 mean: 0.13 median: 0.077 low: 0.001 |
|
| Debt To Equity | 8.522 | |
| Debt To Equity QoQ | 113.485 % | |
| Debt To Equity YoY | -7574.836 % | |
| Debt To Equity IPRWA | GRND: 8.522 high: 2.068 mean: 0.203 median: 0.137 low: -0.935 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 47.727 | |
| Price To Book QoQ | 21.256 % | |
| Price To Book YoY | -306.589 % | |
| Price To Book IPRWA | GRND: 47.727 high: 12.969 median: 9.015 mean: 8.407 low: -3.34 |
|
| Price To Earnings (P/E) | 121.245 | |
| Price To Earnings QoQ | 28.156 % | |
| Price To Earnings YoY | -594.764 % | |
| Price To Earnings IPRWA | high: 160.153 GRND: 121.245 mean: 99.845 median: 99.61 low: -47.921 |
|
| PE/G Ratio | -2.945 | |
| Price To Sales (P/S) | 17.809 | |
| Price To Sales QoQ | -26.178 % | |
| Price To Sales YoY | -42.804 % | |
| Price To Sales IPRWA | high: 27.747 median: 27.747 mean: 23.432 GRND: 17.809 low: 0.004 |
|
| FORWARD MULTIPLES | ||
| Forward P/E | 74.048 | |
| Forward PE/G | -1.798 | |
| Forward P/S | 41.052 | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | -3.362 | |
| ASSET & SALES | ||
| Asset Turnover Ratio | 0.26 | |
| Asset Turnover Ratio QoQ | 10.676 % | |
| Asset Turnover Ratio YoY | 24.415 % | |
| Asset Turnover Ratio IPRWA | high: 0.492 GRND: 0.26 mean: 0.192 median: 0.188 low: 0.002 |
|
| Receivables Turnover | 1.987 | |
| Receivables Turnover Ratio QoQ | -0.505 % | |
| Receivables Turnover Ratio YoY | -4.736 % | |
| Receivables Turnover Ratio IPRWA | high: 8.623 mean: 2.165 GRND: 1.987 median: 1.897 low: 0.163 |
|
| Inventory Turnover | — | |
| Inventory Turnover Ratio QoQ | — | |
| Inventory Turnover Ratio YoY | — | |
| Inventory Turnover Ratio IPRWA | — | |
| Days Sales Outstanding (DSO) | 45.912 | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | 36.795 | |
| Cash Conversion Cycle Days QoQ | 2.496 % | |
| Cash Conversion Cycle Days YoY | — | |
| Cash Conversion Cycle Days IPRWA | high: 97.243 GRND: 36.795 mean: -1.61 median: -2.112 low: -294.971 |
|
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | 1.553 | |
| CapEx To Revenue | -0.023 | |
| CapEx To Depreciation | -2.756 | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 422.9 M | |
| Net Invested Capital | $ 442.9 M | |
| Invested Capital | $ 442.9 M | |
| Net Tangible Assets | $ -307.53 M | |
| Net Working Capital | $ 81.1 M | |
| LIQUIDITY | ||
| Cash Ratio | 1.025 | |
| Current Ratio | 1.955 | |
| Current Ratio QoQ | 137.458 % | |
| Current Ratio YoY | 13.329 % | |
| Current Ratio IPRWA | high: 7.741 mean: 2.091 median: 2.005 GRND: 1.955 low: 0.114 |
|
| Quick Ratio | — | |
| Quick Ratio QoQ | — | |
| Quick Ratio YoY | — | |
| Quick Ratio IPRWA | — | |
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | 12.356 | |
| Cost Of Debt | 1.27 % | |
| Interest Coverage Ratio | 5.666 | |
| Interest Coverage Ratio QoQ | -40.678 % | |
| Interest Coverage Ratio YoY | -125.527 % | |
| Interest Coverage Ratio IPRWA | high: 132.265 median: 111.536 mean: 111.11 GRND: 5.666 low: -107.388 |
|
| Operating Cash Flow Ratio | 0.115 | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | 9.117 | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | — | |
| Dividend Payout Ratio | — | |
| Dividend Rate | — | |
| Dividend Yield | — | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | 20.912 % | |
| Revenue Growth | 8.818 % | |
| Revenue Growth QoQ | -20.401 % | |
| Revenue Growth YoY | -5.05 % | |
| Revenue Growth IPRWA | high: 44.631 % mean: 11.836 % median: 9.633 % GRND: 8.818 % low: -27.55 % |
|
| Earnings Growth | -41.176 % | |
| Earnings Growth QoQ | -141.176 % | |
| Earnings Growth YoY | -95.309 % | |
| Earnings Growth IPRWA | high: 300.0 % mean: 2.151 % median: -4.496 % GRND: -41.176 % low: -143.243 % |
|
| MARGINS | ||
| Gross Margin | 74.844 % | |
| Gross Margin QoQ | -0.233 % | |
| Gross Margin YoY | -0.697 % | |
| Gross Margin IPRWA | high: 100.0 % GRND: 74.844 % mean: 62.845 % median: 59.793 % low: 5.477 % |
|
| EBIT Margin | 24.9 % | |
| EBIT Margin QoQ | -35.35 % | |
| EBIT Margin YoY | -120.424 % | |
| EBIT Margin IPRWA | high: 107.803 % mean: 34.075 % median: 33.92 % GRND: 24.9 % low: -89.445 % |
|
| Return On Sales (ROS) | 24.854 % | |
| Return On Sales QoQ | -36.402 % | |
| Return On Sales YoY | -120.386 % | |
| Return On Sales IPRWA | high: 85.377 % median: 31.568 % mean: 31.194 % GRND: 24.854 % low: -77.331 % |
|
| CASH FLOW | ||
| Free Cash Flow (FCF) | $ 21.9 M | |
| Free Cash Flow Yield | 0.974 % | |
| Free Cash Flow Yield QoQ | -46.921 % | |
| Free Cash Flow Yield YoY | 4.731 % | |
| Free Cash Flow Yield IPRWA | high: 19.19 % GRND: 0.974 % median: 0.656 % mean: 0.575 % low: -24.396 % |
|
| Free Cash Growth | -57.348 % | |
| Free Cash Growth QoQ | -243.863 % | |
| Free Cash Growth YoY | -4167.234 % | |
| Free Cash Growth IPRWA | high: 452.0 % mean: 7.667 % median: 0.368 % GRND: -57.348 % low: -588.0 % |
|
| Free Cash To Net Income | 1.079 | |
| Cash Flow Margin | 7.742 % | |
| Cash Flow To Earnings | 0.481 | |
| VALUE & RETURNS | ||
| Economic Value Added | $ 0.04 | |
| Return On Assets (ROA) | 4.176 % | |
| Return On Assets QoQ | -33.173 % | |
| Return On Assets YoY | -115.77 % | |
| Return On Assets IPRWA | high: 13.424 % mean: 5.796 % median: 5.057 % GRND: 4.176 % low: -16.222 % |
|
| Return On Capital Employed (ROCE) | 7.031 % | |
| Return On Equity (ROE) | 0.431 | |
| Return On Equity QoQ | -0.817 % | |
| Return On Equity YoY | -54.213 % | |
| Return On Equity IPRWA | GRND: 0.431 high: 0.175 mean: 0.082 median: 0.068 low: -0.443 |
|
| DuPont ROE | 34.351 % | |
| Return On Invested Capital (ROIC) | 5.555 % | |
| Return On Invested Capital QoQ | -43.409 % | |
| Return On Invested Capital YoY | -97.93 % | |
| Return On Invested Capital IPRWA | high: 12.209 % median: 7.207 % mean: 7.092 % GRND: 5.555 % low: -22.288 % |
|