Pics N.V. is a US-listed company in the systems software industry. Its financial year ends in December.
Who’s trading
What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.
- Insiders4 buying, 0 selling11 purchases and 0 sales by directors and officers, last 12 monthsInsider trades
- Funds18 adding, 31 cuttingOf 20 active managers that changed their stake, 5 added; quarter to June 30, 2026Fund buyers and sellers
The Fundamentalytics view
Pics N.V.'s trailing-twelve-month revenue grew 77.3% year on year, with a free-cash-flow margin of -37.0%. Where it stands out: revenue growth of 77.3% ranks 1 of 37 systems software companies we cover. Where it lags: change in share count of 99999900.0% ranks 34 of 34 systems software companies we cover.
Current signal Revenue growth accelerating: TTM revenue growth rose to 77.3% (+27.5pp vs the prior quarter).
Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.
Highlights
How we pick theseStrengths
- Fast growth. Revenue grew 77.3% over the last 12 months, against a median of 16.9% for systems software companies we cover.
- Growth speeding up. The growth rate is 27.5 points higher than a quarter earlier.
- Net cash. Cash exceeds long-term debt by $0.7bn.
Things to watch
- Burning cash. Free cash flow was -37.0% of revenue over the last 12 months.
- Share dilution. Diluted shares rose 99999900.0% in a year.
Latest results
- Earnings per share
- $2.20 against an average estimate of $1.93: beat by 14.0%
- Next report
- November 16, 2026
Price chart
- 1 day-4.4%
- 1 week-22.7%
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Third-party market data · may be delayed
At a glance
Profitability
- Revenue (TTM)
- $1.8B
- Operating margin
- 0.4%
- Net margin
- -10.6%
- EPS (TTM, diluted)
- $-0.98
Growth
- Revenue growth
- +77.3%
- Change in growth rate
- +27.5 pts
- Share count change
- +99999900.0%
News & updates
Company announcements, filed results and changes that matter to shareholders.
No recent updates are available for PICS from the sources we follow. See filings →
No model value for Pics N.V. at the moment. Current status: no valuation model gives a value we can rate yet. Available reported financials are shown below.
Valuation models
We value Pics N.V. as an operating company, with every model that fits that kind of business. Cost of equity 10.4%: the 10-year Treasury yield (4.9%) plus a beta of 1.2 times a 4.5% equity risk premium.
| Model | Value per share | In the combined value? |
|---|---|---|
| Price-to-earnings vs peers Earnings per share times peers' typical (harmonic-mean) price-to-earnings. | — | Does not apply: no positive earnings in the latest twelve months |
| Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. | — | Does not apply: the model gives no positive value |
| Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. | — | Does not apply: return on equity is not positive |
| Revenue-to-maturity model Revenue grown to maturity with the cash margin moving to the industry's; for companies not yet profitable. | — | Does not apply: revenue and margins don't support a positive value |
| Price-to-sales vs peers Sales per share times peers' typical price-to-sales; used only when earnings are negative. | — 0 | Does not apply: no positive value |
| Combined value Weighted average of the models that apply: the primary model (price-to-earnings vs peers) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. | — | No model applies: the filings don’t yet support a value. |
Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Pics N.V. with Systems Software in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.
Moat
Not assessed: fewer than five years of comparable figures in the filings. AI disruption exposure for this industry: Medium.
Forecasts and guidance
Next results: November 16, 2026, after the close.
Analysts' consensus
No analyst estimates are published for Pics N.V.: too few analysts cover it.
Earnings against estimates
| Quarter to | Estimate | Actual | Surprise |
|---|---|---|---|
| Jun 2026 | $1.93 | $2.20 | +14.0% |
| Mar 2026 | $1.13 | $1.31 | +15.8% |
Adjusted EPS as companies report it, against the average analyst estimate.
Positioning
- Short interest
- 4.3% of tradable shares
- Days to cover
- 2.17 at average volume
- Short interest, 1 month
- −1% to October 15, 2026
- Held by institutions
- 33% of shares
- Held by insiders
- 50.5% of shares
Share-price performance
Market data may be delayedPrice behaviour
- 52-week range
- Not enough history
- From 52-week high
- —
- vs 50-day average
- —
- vs 200-day average
- —
- Volatility (1 year)
- —
- Beta vs S&P 500
- —
Pics N.V. in five measures
Fundamentals
Financial statements
| Fiscal year | 2023 Dec 2023 | 2024 Dec 2024 | 2025 Dec 2025 |
|---|---|---|---|
| Income | |||
| Revenue | 693 | 1,039 | 1,841 |
| EBITDA | 35 | 61 | 86 |
| Operating income | 1 | 6 | 6 |
| Net income | −7 | −41 | −196 |
| Diluted EPS | $34589191.62 | $202849.90 | $977730.70 |
| Growth (year on year) | |||
| Revenue | — | +49.8% | +77.3% |
| EBITDA | — | +73.6% | +40.9% |
| Margins | |||
| EBITDA margin | 5.1% | 5.9% | 4.7% |
| Operating margin | 0.2% | 0.6% | 0.4% |
| Net margin | −1.0% | −3.9% | −10.6% |
| Free-cash-flow margin | 45.2% | 40.0% | −37.0% |
| Cash flow | |||
| Cash from operations | 314 | 427 | −670 |
| Capital spending | 1 | 11 | 12 |
| Free cash flow | 313 | 416 | −682 |
| Stock-based pay | — | — | 37 |
| Free cash flow after stock pay | — | — | −719 |
| Balance sheet | |||
| Cash | 1,521 | 1,208 | 705 |
| Total debt | 0 | 0 | 0 |
| Net debt (negative = net cash) | −1,521 | −1,208 | −705 |
| Diluted shares | — | — | 200m |
Dividends, buybacks and capital spending
- Diluted share count
- +99999900.0%
- year over year
Competitors: side by side with peers
| Last 12 months unless stated | PICS | TDC | RBRK | PAYP | CVLT | CHKP | Median |
|---|---|---|---|---|---|---|---|
| Revenue, last 12 months | $1.8bn | $1.7bn | $1.5bn | $2.5bn | $1.3bn | $2.7bn | $1.1bn |
| Revenue growth, last 12 months | 77.3% | 1.0% | 42.4% | 28.8% | 14.3% | 6.3% | 16.9% |
| Revenue growth, 3-year average | — | −2.2% | — | — | 16.2% | 25.0% | 16.1% |
| Revenue growth, latest quarter | — | 0.5% | 37.9% | — | 13.1% | — | 19.6% |
| Gross margin | — | 60.8% | 80.2% | — | 81.3% | 86.7% | 69.6% |
| Operating margin | 0.4% | 7.5% | −18.3% | 21.0% | 7.4% | 30.5% | 3.7% |
| Operating margin, 3-year average | — | 9.7% | −66.7% | — | 7.5% | 40.7% | 4.0% |
| Net margin | −10.6% | 27.1% | −16.5% | 30.2% | 6.6% | 38.8% | 2.4% |
| Cash from operations / revenue | −36.4% | 45.0% | 21.9% | 98.6% | 21.0% | 44.0% | 16.6% |
| Free-cash-flow margin | −37.0% | 43.5% | 19.7% | 96.9% | 20.4% | 43.0% | 15.0% |
| Free-cash-flow margin, 3-year average | — | 24.7% | 10.3% | — | 21.3% | 52.0% | 18.8% |
| Stock pay / revenue | 2.0% | 4.0% | 22.2% | 0.5% | 10.6% | 7.5% | 8.2% |
| Change in share count | >999% | −0.7% | 6.5% | 17.1% | −4.9% | −3.1% | 2.7% |
Peer comparison
| Measure | Company | Peer median | Rank |
|---|---|---|---|
| Revenue growth Growth | 77.3% | 16.9% | 1 of 37 |
| Change in growth rate Growth | +27.5pp | -0.3pp | 4 of 37 |
| Operating margin Profitability | 0.4% | 3.8% | 20 of 34 |
| Net margin Profitability | -10.6% | 2.4% | 25 of 37 |
| Stock pay as % of revenue Cash generation | 2.0% | 8.5% | 8 of 36 |
| Change in share count Balance sheet | 99999900.0% | 3.1% | 34 of 34 |
Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).
Who owns it
Funds buying and selling- Reported value
- $125M
- Institutions reporting
- 38
- Shares held vs prior quarter
- ▼ 21.0%
- Positions opened / closed
- 9 / 17
| Manager | Value | Shares | Share of 13F value | Shares QoQ |
|---|---|---|---|---|
| Goldman Sachs Group Inc | $33.5M | 3.2M | 26.7% | ▼ 13.8% |
| Fil Ltd | $18.4M | 1.7M | 14.7% | ▲ 57.2% |
| Samlyn Capital, LLC | $15.5M | 1.5M | 12.4% | ▲ 5.2% |
| Sagil Capital LLP | $13.8M | 1.3M | 11.0% | 0.0% |
| Blackrock, Inc. | $6M | 565K | 4.8% | ▼ 31.4% |
| Norges Bank | $5.3M | 500K | 4.2% | — |
| Bluecrest Capital Management Ltd | $4M | 375K | 3.2% | ▲ 21.0% |
| Teacher Retirement System Of Texas | $2.7M | 250K | 2.1% | 0.0% |
| Schonfeld Strategic Advisors LLC | $2.6M | 246K | 2.1% | ▲ 25.4% |
| Whetstone Capital Advisors, LLC | $2.2M | 206K | 1.7% | New |
| Diametric Capital, LP | $2.1M | 195K | 1.6% | New |
| Marshall Wace, LLP | $2.1M | 194K | 1.6% | ▲ 5.6% |
From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Pics N.V.'s complete shareholder register. Values are as reported by the filers .
Insider trading activity
Full insider history and chart| Insider | Date | Trade | Shares | Price | Value |
|---|---|---|---|---|---|
| Augusto Cazotto Andre IR, Strategy and M&A Officer | June 11, 2026 | Buy | 49,500 | $9.41 | $465,795 |
| Batista Costa Jose Antonio Director | June 10, 2026 | Buy | 18,500 | $9.47 | $175,195 |
| Batista Costa Jose Antonio Director | June 9, 2026 | Buy | 20,800 | $9.73 | $202,384 |
| Batista Costa Jose Antonio Director | June 8, 2026 | Buy | 21,130 | $9.42 | $199,045 |
| Pruett William Rodney Director | June 5, 2026 | Buy | 25,000 | $9.10 | $227,500 |
| Batista Costa Jose Antonio Director | June 5, 2026 | Buy | 21,833 | $9.16 | $199,990 |
| Batista Costa Jose Antonio Director | June 4, 2026 | Buy | 22,000 | $9.09 | $199,980 |
| Augusto Cazotto Andre IR, Strategy and M&A Officer | March 31, 2026 | Buy | 1,700 | $10.69 | $18,173 |
| Chedid Simoes Eduardo Chief Executive Officer | March 26, 2026 | Buy | 87,505 | $11.52 | $1M |
| Augusto Cazotto Andre IR, Strategy and M&A Officer | March 25, 2026 | Buy | 6,500 | $11.55 | $75,075 |
| Pruett William Rodney Director | March 23, 2026 | Buy | 100,000 | $11.80 | $1.2M |
From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.
Earnings dates and SEC filings
Results announcements
Data status
| Data | Last updated | Source |
|---|---|---|
| Share price | Exchange closing prices | |
| News and updates | Company releases and SEC 8-K filings | |
| Analyst estimates | Aggregated analyst estimates | |
| Valuation and scores | Our models, from the filed figures |
Pics N.V. in brief
- What does Pics N.V. do?
- Pics N.V. is a US-listed company in the systems software industry. Its financial year ends in December.
- What is Pics N.V.'s stock ticker?
- Pics N.V. trades under the ticker PICS on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
- What is Pics N.V.'s revenue, and how fast is it growing?
- Over its most recent trailing twelve months, Pics N.V. reported revenue of $1.8B, 77.3% higher than a year earlier, according to its SEC filings.
- What is Pics N.V.'s free cash flow?
- Pics N.V.'s free-cash-flow margin is -37.0% of revenue over the trailing twelve months.
- Who are Pics N.V.'s largest institutional shareholders?
- By value reported in 13F filings for June 30, 2026, the largest reported holders are Goldman Sachs Group Inc, Fil Ltd and Samlyn Capital, LLC. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
- Who are Pics N.V.'s competitors?
- In our Systems Software peer group, the companies closest to Pics N.V. are Teradata Corp, Rubrik, Inc., Paypay Corp, Commvault Systems Inc and Check Point Software Technologies LTD. The side-by-side comparison below sets their revenue, margins and growth against Pics N.V.'s.
- Are insiders buying or selling Pics N.V. stock?
- Over the last 12 months, Pics N.V.'s directors and officers reported 11 open-market purchases and 0 sales on Form 4. The insider trading page charts every trade.
- When is Pics N.V.'s next earnings date?
- Around November 16, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Pics N.V. announces its own schedule.
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