# Largest negative accrual gap (net income minus operating cash flow, scaled by average assets)

Informational only - not investment advice.

Companies ranked mechanically by (net income minus operating cash flow) divided by average total assets, all for the same latest fiscal year (average of that year-end and the prior year-end), from SEC companyfacts, sorted from lower reported gaps upward. Rows require average assets of at least $100.0M and exclude SIC 6xxx financial companies.

Mechanical ranking by stated metric from SEC/FRED data; not a recommendation, endorsement, or investment judgment. As of: 2026-06-24.

- Ranked companies can have different latest fiscal-year ends, which affects temporal comparability.
- Period-end comparability: ranked values span fiscal period-ends from 2025-08-31 to 2026-04-30 (a 8-month spread), so the ranking compares companies over different reporting periods; row-level offsets are shown relative to modal period end 2025-12-31.
- The accrual gap is (net income minus operating cash flow) divided by average total assets for the same fiscal year. Non-cash accruals have routine sources, including depreciation and amortization policy, working-capital timing, and deferred items; the gap is a descriptive decomposition, not a judgment.
- Operating cash flow composition differs structurally by industry; SIC 6xxx financial companies are excluded from accrual-gap tables.
- Comparisons across industries are not apples-to-apples: revenue and assets are defined differently by industry (for example, a bank's revenue is interest/fee income, and a REIT's revenue is lease income).
- Minimum average-assets floor: $100.0M.
- Computed for 1793 of 2825 covered companies; companies with positive accrual gap appear on the largest-positive-accrual-gap table when otherwise eligible, and zero accrual gaps are omitted from both sign-split tables; companies missing a required same-fiscal-year input, failing the annual period-spacing gate, or below the stated floors are omitted rather than estimated.

| Rank | Company | Accrual gap | FY | Period end | Comparability | Regime | Extra |
| ---: | --- | ---: | ---: | --- | --- | --- | --- |
| 1 | [SMMT](/company/SMMT/) - Summit Therapeutics Inc. | -127.52% | 2025 | as of 2025-12-31 | offset 0d (aligned) | operating | NI minus OCF -$756.7M; avg assets $593.4M |
| 2 | [PGEN](/company/PGEN/) - PRECIGEN, INC. | -108.26% | 2025 | as of 2025-12-31 | offset 0d (aligned) | operating | NI minus OCF -$162.8M; avg assets $150.4M |
| 3 | [FFAI](/company/FFAI/) - FARADAY FUTURE INTELLIGENT ELECTRIC INC. | -80.52% | 2025 | as of 2025-12-31 | offset 0d (aligned) | operating | NI minus OCF -$283.1M; avg assets $351.6M |
| 4 | [MRDN](/company/MRDN/) - Meridian Holdings Inc./NV | -70.73% | 2025 | as of 2025-12-31 | offset 0d (aligned) | operating | NI minus OCF -$117.3M; avg assets $165.9M |
| 5 | [NN](/company/NN/) - NEXTNAV INC. | -67.77% | 2025 | as of 2025-12-31 | offset 0d (aligned) | operating | NI minus OCF -$138.5M; avg assets $204.4M |
| 6 | [USAR](/company/USAR/) - USA Rare Earth, Inc. | -65.07% | 2025 | as of 2025-12-31 | offset 0d (aligned) | operating | NI minus OCF -$248.6M; avg assets $382.0M |
| 7 | [ASPN](/company/ASPN/) - ASPEN AEROGELS INC | -64.90% | 2025 | as of 2025-12-31 | offset 0d (aligned) | operating | NI minus OCF -$422.4M; avg assets $650.9M |
| 8 | [DCGO](/company/DCGO/) - DocGo Inc. | -64.47% | 2025 | as of 2025-12-31 | offset 0d (aligned) | operating | NI minus OCF -$216.9M; avg assets $336.4M |
| 9 | [TTGT](/company/TTGT/) - TechTarget, Inc. | -63.96% | 2025 | as of 2025-12-31 | offset 0d (aligned) | operating | NI minus OCF -$1.0B; avg assets $1.6B |
| 10 | [TEAD](/company/TEAD/) - Teads Holding Co. | -55.90% | 2025 | as of 2025-12-31 | offset 0d (aligned) | operating | NI minus OCF -$524.7M; avg assets $938.6M |
| 11 | [ALCO](/company/ALCO/) - ALICO, INC. | -55.80% | 2025 | as of 2025-09-30 | offset about 3 months before row reference (-92d) (offset) | operating | NI minus OCF -$167.5M; avg assets $300.1M |
| 12 | [ZBIO](/company/ZBIO/) - Zenas BioPharma, Inc. | -54.51% | 2025 | as of 2025-12-31 | offset 0d (aligned) | operating | NI minus OCF -$205.4M; avg assets $376.8M |
| 13 | [ALIT](/company/ALIT/) - Alight, Inc. / Delaware | -54.18% | 2025 | as of 2025-12-31 | offset 0d (aligned) | operating | NI minus OCF -$3.5B; avg assets $6.4B |
| 14 | [QBTS](/company/QBTS/) - D-Wave Quantum Inc. | -50.75% | 2025 | as of 2025-12-31 | offset 0d (aligned) | operating | NI minus OCF -$283.1M; avg assets $557.8M |
| 15 | [SLP](/company/SLP/) - Simulations Plus, Inc. | -50.43% | 2025 | as of 2025-08-31 | offset about 4 months before row reference (-122d) (offset) | operating | NI minus OCF -$82.8M; avg assets $164.3M |
| 16 | [BMBL](/company/BMBL/) - Bumble Inc. | -47.77% | 2025 | as of 2025-12-31 | offset 0d (aligned) | operating | NI minus OCF -$943.5M; avg assets $2.0B |
| 17 | [ATLN](/company/ATLN/) - ATLANTIC INTERNATIONAL CORP. | -47.24% | 2025 | as of 2025-12-31 | offset 0d (aligned) | operating | NI minus OCF -$55.0M; avg assets $116.5M |
| 18 | [TLS](/company/TLS/) - TELOS CORP | -44.77% | 2025 | as of 2025-12-31 | offset 0d (aligned) | operating | NI minus OCF -$66.7M; avg assets $149.0M |
| 19 | [PL](/company/PL/) - Planet Labs PBC | -42.85% | 2026 | as of 2026-01-31 | offset +31d (offset) | operating | NI minus OCF -$381.2M; avg assets $889.7M |
| 20 | [PACB](/company/PACB/) - PACIFIC BIOSCIENCES OF CALIFORNIA, INC. | -42.57% | 2025 | as of 2025-12-31 | offset 0d (aligned) | operating | NI minus OCF -$435.2M; avg assets $1.0B |
| 21 | [MYGN](/company/MYGN/) - MYRIAD GENETICS INC | -42.41% | 2025 | as of 2025-12-31 | offset 0d (aligned) | operating | NI minus OCF -$367.7M; avg assets $867.1M |
| 22 | [VSTM](/company/VSTM/) - Verastem, Inc. | -41.36% | 2025 | as of 2025-12-31 | offset 0d (aligned) | operating | NI minus OCF -$72.0M; avg assets $174.0M |
| 23 | [ASPI](/company/ASPI/) - ASP Isotopes Inc. | -41.21% | 2025 | as of 2025-12-31 | offset 0d (aligned) | operating | NI minus OCF -$122.1M; avg assets $296.2M |
| 24 | [HELE](/company/HELE/) - HELEN OF TROY LTD | -40.78% | 2026 | as of 2026-02-28 | offset about 2 months after row reference (+59d) (offset) | operating | NI minus OCF -$1.1B; avg assets $2.6B |
| 25 | [DJT](/company/DJT/) - Trump Media & Technology Group Corp. | -40.76% | 2025 | as of 2025-12-31 | offset 0d (aligned) | operating | NI minus OCF -$727.1M; avg assets $1.8B |
| 26 | [BBAI](/company/BBAI/) - BigBear.ai Holdings, Inc. | -40.69% | 2025 | as of 2025-12-31 | offset 0d (aligned) | operating | NI minus OCF -$252.0M; avg assets $619.2M |
| 27 | [CTGO](/company/CTGO/) - Contango Silver & Gold Inc. | -40.43% | 2025 | as of 2025-12-31 | offset 0d (aligned) | operating | NI minus OCF -$61.8M; avg assets $152.9M |
| 28 | [RAL](/company/RAL/) - Ralliant Corp | -37.94% | 2025 | as of 2025-12-31 | offset 0d (aligned) | operating | NI minus OCF -$1.6B; avg assets $4.3B |
| 29 | [AIP](/company/AIP/) - Arteris, Inc. | -37.51% | 2025 | as of 2025-12-31 | offset 0d (aligned) | operating | NI minus OCF -$41.5M; avg assets $110.6M |
| 30 | [LZ](/company/LZ/) - LEGALZOOM.COM, INC. | -36.77% | 2025 | as of 2025-12-31 | offset 0d (aligned) | operating | NI minus OCF -$162.8M; avg assets $442.7M |
| 31 | [PLUG](/company/PLUG/) - PLUG POWER INC | -35.36% | 2025 | as of 2025-12-31 | offset 0d (aligned) | operating | NI minus OCF -$1.1B; avg assets $3.1B |
| 32 | [RNG](/company/RNG/) - RingCentral, Inc. | -35.20% | 2025 | as of 2025-12-31 | offset 0d (aligned) | operating | NI minus OCF -$574.0M; avg assets $1.6B |
| 33 | [FTRE](/company/FTRE/) - Fortrea Holdings Inc. | -34.94% | 2025 | as of 2025-12-31 | offset 0d (aligned) | operating | NI minus OCF -$1.1B; avg assets $3.1B |
| 34 | [LBTYA](/company/LBTYA/) - Liberty Global Ltd. | -34.76% | 2025 | as of 2025-12-31 | offset 0d (aligned) | operating | NI minus OCF -$8.3B; avg assets $24.0B |
| 35 | [BETA](/company/BETA/) - BETA Technologies, Inc. | -34.48% | 2025 | as of 2025-12-31 | offset 0d (aligned) | operating | NI minus OCF -$478.1M; avg assets $1.4B |
| 36 | [TE](/company/TE/) - T1 Energy Inc. | -34.22% | 2025 | as of 2025-12-31 | offset 0d (aligned) | operating | NI minus OCF -$463.3M; avg assets $1.4B |
| 37 | [RBLX](/company/RBLX/) - Roblox Corp | -34.20% | 2025 | as of 2025-12-31 | offset 0d (aligned) | operating | NI minus OCF -$2.9B; avg assets $8.4B |
| 38 | [PPHC](/company/PPHC/) - Public Policy Holding Company, Inc. | -33.83% | 2025 | as of 2025-12-31 | offset 0d (aligned) | operating | NI minus OCF -$63.8M; avg assets $188.5M |
| 39 | [KODK](/company/KODK/) - EASTMAN KODAK CO | -33.61% | 2025 | as of 2025-12-31 | offset 0d (aligned) | operating | NI minus OCF -$608.0M; avg assets $1.8B |
| 40 | [RGTI](/company/RGTI/) - Rigetti Computing, Inc. | -33.15% | 2025 | as of 2025-12-31 | offset 0d (aligned) | operating | NI minus OCF -$157.7M; avg assets $475.7M |
| 41 | [ENOV](/company/ENOV/) - Enovis CORP | -32.78% | 2025 | as of 2025-12-31 | offset 0d (aligned) | operating | NI minus OCF -$1.4B; avg assets $4.3B |
| 42 | [MVIS](/company/MVIS/) - MICROVISION, INC. | -32.34% | 2025 | as of 2025-12-31 | offset 0d (aligned) | operating | NI minus OCF -$36.3M; avg assets $112.1M |
| 43 | [ASAN](/company/ASAN/) - Asana, Inc. | -32.20% | 2026 | as of 2026-01-31 | offset +31d (offset) | operating | NI minus OCF -$279.4M; avg assets $867.8M |
| 44 | [TBPH](/company/TBPH/) - Theravance Biopharma, Inc. | -31.59% | 2025 | as of 2025-12-31 | offset 0d (aligned) | operating | NI minus OCF -$132.6M; avg assets $419.9M |
| 45 | [GSAT](/company/GSAT/) - Globalstar, Inc. | -31.23% | 2025 | as of 2025-12-31 | offset 0d (aligned) | operating | NI minus OCF -$630.3M; avg assets $2.0B |
| 46 | [FOXF](/company/FOXF/) - FOX FACTORY HOLDING CORP | -31.00% | 2025 | as of 2026-01-02 | offset +2d (aligned) | operating | NI minus OCF -$605.5M; avg assets $2.0B |
| 47 | [BBIO](/company/BBIO/) - BridgeBio Pharma, Inc. | -30.94% | 2025 | as of 2025-12-31 | offset 0d (aligned) | operating | NI minus OCF -$287.0M; avg assets $927.7M |
| 48 | [FORR](/company/FORR/) - FORRESTER RESEARCH, INC. | -30.94% | 2025 | as of 2025-12-31 | offset 0d (aligned) | operating | NI minus OCF -$140.4M; avg assets $453.9M |
| 49 | [AI](/company/AI/) - C3.ai, Inc. | -30.41% | 2026 | as of 2026-04-30 | offset about 4 months after row reference (+120d) (offset) | operating | NI minus OCF -$280.1M; avg assets $921.1M |
| 50 | [LRMR](/company/LRMR/) - Larimar Therapeutics, Inc. | -30.32% | 2025 | as of 2025-12-31 | offset 0d (aligned) | operating | NI minus OCF -$52.5M; avg assets $173.0M |