FTRE at a glance
Fortrea Holdings Inc. (FTRE, SEC CIK 1965040) filed its latest 10-K annual report on February 26, 2026, a 10-Q quarterly report on July 29, 2026, an 8-K current report on September 30, 2026 and Form 4 insider filings as recently as September 14, 2026. SignalX summarizes each filing with AI and tracks the company's insider trades and institutional holders.
- For the fiscal year ended December 31, 2025 (FY2025), Fortrea Holdings Inc. (FTRE) reported revenue of $2.7 billion (up 1.0% from FY2024) and a net loss of $986.2 million. Diluted EPS was -$10.81.
- As of June 30, 2026, 33 institutional investment managers tracked by SignalX reported holding Fortrea Holdings Inc. (FTRE) shares worth $981.6 million in 13F-HR filings.
- The most recent insider open-market sale reported on Form 4 was by Russell Carrie Elizabeth on September 9, 2026 of 246 shares at $16.85 per share.
- In the last 90 days, FTRE insiders reported 0 open-market purchases ($0) and 8 open-market sales ($4.3M) on Form 4, a net sale of $4.3M.
Source: SEC EDGAR (XBRL financial data, 13F-HR and Form 4 filings).
- Revenue · FY2025
- $2.7B
- +1.0% vs prior year
- Insiders · 90 days
- 0 buys · 8 sells
- Net −$4.3M
- 13F holders
- 33 funds
- $981.6M · −2 vs prior quarter
- Latest 8-K
- Sep 30, 2026
- Item 5.02
AI 10-K Annual Report Analysis
Latest 10-K, fiscal year ended Dec 31, 2025
Business Overview
- Core business model: global contract research organization (CRO) providing clinical trial management and consulting services across 20+ therapeutic areas
- Strategic shift: spun off from Labcorp Holdings on June 29, 2023, becoming standalone publicly traded company
- Notable transaction: sold Enabling Services Segment (Fortrea Patient Access Inc. and Endpoint Clinical, Inc.) to Arsenal Capital Partners in Q2 2024
- Workforce scale: approximately 14,300 employees operating in about 100 countries
- Reporting structure: operates under one clinical services segment post-separation
Risk Factors
- FTC scrutiny under Transition Services Agreement post-Spin from Labcorp completed June 30, 2023, affecting centralized function costs allocation
- Revenue exposure from geopolitical risks in ~100 countries with operations, disrupting clinical trials and regulatory approvals
- Post-sale of Enabling Services Segment assets for $340M in Q2 2024, operational shift risk in transition service dependencies
- Market competition risk from larger CROs like IQVIA and ICON impacting contract awards in key therapeutic areas
- Financial risk from potential backlog cancellations despite $7.7B backlog as of December 31, 2025, with contracts having 30-90 day termination notice
Management Discussion & Analysis
- Revenue $2,723.4M, up 1.0% YoY vs $2,696.4M in 2024; organic growth 0.8%, FX benefit 0.2%
- Operating costs: direct costs 81.5% of revenue vs 80.2% in 2024; SG&A down 18.6% to $456.4M from $560.7M
- Segment impairment: Clinical Development goodwill impairment $797.9M in 2025, none in 2024
- Cash flow: operating cash $113.5M vs $262.8M in 2024; capital expenditures $25.2M vs $25.5M; repurchased $75.7M notes in 2025
- Outlook: monitors new OECD global minimum tax, no Pillar Two tax accrued in 2025; believes existing cash and credit suffice for 12 months operations
AI summary of the FTRE 10-K filed . Generated from the filing text; verify against the original.View on SEC EDGARHow to read a 10-K
AI 10-Q Quarterly Report Analysis
Latest 10-Q, quarter ended Jun 30, 2026
Management Discussion & Analysis
- Fortrea’s provided MD&A excerpt contains no quarterly revenue, YoY comparison, or segment performance figures
- Cash position, operating cash flow, and capital deployment details not provided
- Near-term outlook, guidance, and headwind commentary not provided
Risk Factors
- No risk factors provided in the submitted excerpt
- Excerpt covers Items 2–6 and signatures, not the Risk Factors section
- No new or changed risks identifiable from the available text
AI summary of the FTRE 10-Q filed . Generated from the filing text; verify against the original.View on SEC EDGAR10-K vs 10-Q vs 8-K
AI 8-K Current Report Analysis
The most recent material events, by 8-K item
Item 5.02: Departure/Appointment of Directors or Principal Officers
- Carrie Russell appointed Chief Accounting Officer and principal accounting officer effective October 5, 2026
- Prior interim accounting leadership since August 7, 2026, supporting continuity in financial reporting oversight
Item 5.02: Departure/Appointment of Directors or Principal Officers
- Jason Knoblauch reinstated as CFO and principal financial officer effective September 9, 2026
- Reinstatement follows settlement and mutual release resolving former employer’s restrictive-covenant lawsuit
Item 2.02: Results of Operations and Financial Condition
- Fortrea reported fiscal-quarter results for the period ended June 30, 2026
- Press release issued July 29, 2026, with detailed financial results in Exhibit 99.1
Item 5.02: Departure/Appointment of Directors or Principal Officers
- Jason Knoblauch placed on paid leave after Delaware court restraining order over alleged covenant and confidentiality violations
- David Smith appointed Interim CFO while remaining a director, strengthening near-term financial leadership continuity
Item EX-99.1: Item EX-99.1
- Q2 revenue declined to $678.2M from $710.3M, but adjusted EBITDA rose to $58.7M from $54.9M
- Book-to-bill reached 1.06x, with four consecutive quarters above 1.0x supporting backlog of $7,800M
AI summaries of FTRE 8-K current reports filed with the SEC. What 8-K item codes mean
SignalX for FTRE
Don't miss the next FTRE filing
- Alerts as it files. A push when FTRE files an 8-K or an insider trades.
- Fund moves. Which tracked funds opened, added or cut FTRE, by share count.
- Ask anything. An AI agent that reads every FTRE filing and answers with sources.
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Recent Insider Transactions (Form 4)
Latest reported trades by officers, directors and 10% owners
| Insider | Type | Date | Shares | Price |
|---|---|---|---|---|
| Knoblauch Jason Fredrick | A | Sep 10, 2026 | 144,434 | - |
| Russell Carrie Elizabeth | Sell | Sep 9, 2026 | 246 | $16.85 |
| Morais Mark A. | Sell | Sep 9, 2026 | 3,149 | $16.85 |
| Russell Carrie Elizabeth | M | Sep 8, 2026 | 850 | - |
| Morais Mark A. | M | Sep 8, 2026 | 7,157 | - |
| Morais Mark A. | M | Sep 8, 2026 | 7,157 | - |
| Russell Carrie Elizabeth | M | Sep 8, 2026 | 850 | - |
| Morais Mark A. | Sell | Aug 19, 2026 | 4,892 | $18.19 |
Financial SummaryXBRL
| Metric | FY2023 | FY2024 | FY2025 |
|---|---|---|---|
| Profitability | |||
| Revenue | $3.1B | $2.7B | $2.7B |
| Operating Income | $63.1M | -$161.9M | -$872.6M |
| Net Income | -$3.4M | -$328.5M | -$986.2M |
| Op. Margin | 2.0% | -6.0% | -32.0% |
| Net Margin | -0.1% | -12.2% | -36.2% |
| Balance Sheet | |||
| Total Assets | - | $3.6B | $2.7B |
| Equity | $1.7B | $1.4B | $563.5M |
| ROE | -0.2% | -24.1% | -175.0% |
| Per Share | |||
| EPS | $-0.04 | $-3.67 | $-10.81 |
| Cash Flow | |||
| Operating CF | $167.4M | $262.8M | $113.5M |
Source: XBRL data in Fortrea Holdings Inc. (FTRE)'s 10-K filings on SEC EDGAR, in USD. Compare across companies →
13F Fund Holdings: Quarterly Trend
Latest: Q2 2026Aggregate FTRE share value held by 13F filers tracked by SignalX, by quarter.
Quarterly totals table
| Quarter | Funds | Total value |
|---|---|---|
| Q2 2026 | 33 | $981.6M |
| Q1 2026 | 35 | $491.6M |
| Q4 2025 | 32 | $919.4M |
| Q3 2025 | 31 | $477.1M |
| Q2 2025 | 34 | $302.3M |
| Q1 2025 | 27 | $307.2M |
| Q4 2024 | 25 | $649.0M |
| Q3 2024 | 23 | $366.2M |
- FMR LLC (Fidelity)+2.40M (+193%)
- BlackRock+646.7K (+4%)
- Citadel Advisors LLC+513.5K (+101%)
- Millennium Management+373.8K (+148%)
- Principal Financial Group+357.6K (+80%)
- JPMorgan Chase & Co−429.4K (-43%)
- State Street Corp−325.2K (-8%)
- AQR Capital Management−317.9K (-10%)
- Two Sigma Investments−235.6K (-52%)
- Morgan Stanley−203.5K (-9%)
Source: 13F-HR filings on SEC EDGAR (aggregated from 240 fund-quarter rows). Reflects only 13F filers tracked by SignalX, not the full institutional ownership universe. How 13F filings work
FTRE filing archive
AI analysis pages for each 10-K, 10-Q and 8-K
10-K annual reports
10-Q quarterly reports
Latest 2026 SEC Filings: 10-K, 10-Q, 8-K & Form 4
| Form | Filing date | Period | Analysis | SEC |
|---|---|---|---|---|
| 8-K | Sep 30, 2026 | - | Analysis | - |
| 4 | Sep 14, 2026 | - | - | - |
| 4 | Sep 10, 2026 | - | - | - |
| 4 | Sep 10, 2026 | - | - | - |
| 8-K | Sep 10, 2026 | - | Analysis | - |
| 4 | Aug 19, 2026 | - | - | - |
| 4 | Aug 7, 2026 | - | - | - |
| 4 | Aug 6, 2026 | - | - | - |
| 4 | Aug 5, 2026 | - | - | - |
| 4 | Aug 5, 2026 | - | - | - |
| 8-K | Jul 29, 2026 | - | Analysis | - |
| 10-Q | Jul 29, 2026 | Jun 30, 2026 | Analysis | |
| 4 | Jul 27, 2026 | - | - | - |
| 8-K | Jul 14, 2026 | - | Analysis | - |
| 8-K | Jun 26, 2026 | - | Analysis | - |
| 4 | Jun 12, 2026 | - | - | - |
| 4 | Jun 12, 2026 | - | - | - |
| 4 | Jun 12, 2026 | - | - | - |
| 8-K | Jun 12, 2026 | - | Analysis | - |
| 4 | Jun 12, 2026 | - | - | - |
| 4 | Jun 12, 2026 | - | - | - |
| 4 | Jun 12, 2026 | - | - | - |
| 4 | Jun 12, 2026 | - | - | - |
| 4 | Jun 12, 2026 | - | - | - |
| 4 | Jun 3, 2026 | - | - |
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FTRE SEC filings: frequently asked questions
Are FTRE insiders buying or selling?
In the last 90 days, Fortrea Holdings Inc. (FTRE) officers, directors and 10% owners reported no open-market purchases and 8 open-market sales worth $4.3 million by 4 insiders on Form 4. Many insider sales are pre-planned or for taxes, so purchases usually carry more information.
Which institutions hold FTRE stock?
As of June 30, 2026, the largest Fortrea Holdings Inc. (FTRE) holders among the 13F filers tracked by SignalX were BlackRock ($274.9 million), Goldman Sachs Group ($146.4 million), Vanguard Capital Management LLC ($72.8 million), Vanguard Portfolio Management LLC ($66.4 million), State Street Corp ($65.8 million). 13F-HR reports are filed up to 45 days after each quarter ends.
What was FTRE's revenue in fiscal year 2025?
For the fiscal year ended December 31, 2025 (FY2025), Fortrea Holdings Inc. (FTRE) reported revenue of $2.7 billion (up 1.0% from FY2024) and a net loss of $986.2 million. Diluted EPS was -$10.81. The figures come from the XBRL data in the 10-K.
What are the main risks in FTRE's latest 10-K?
In the 10-K filed February 26, 2026, Fortrea Holdings Inc. (FTRE) flagged: FTC scrutiny under Transition Services Agreement post-Spin from Labcorp completed June 30, 2023, affecting centralized function costs allocation. Revenue exposure from geopolitical risks in ~100 countries with operations, disrupting clinical trials and regulatory approvals. (AI summary of the Risk Factors section.)
What did FTRE report in its latest 8-K?
Fortrea Holdings Inc. (FTRE) filed an 8-K on September 30, 2026 reporting Item 5.02 (Departure/Appointment of Directors or Principal Officers). Carrie Russell appointed Chief Accounting Officer and principal accounting officer effective October 5, 2026.
What are the latest FTRE SEC filings?
Fortrea Holdings Inc. (FTRE) filed its latest 10-K annual report on February 26, 2026, a 10-Q quarterly report on July 29, 2026, an 8-K current report on September 30, 2026 and a Form 4 insider filing on September 14, 2026.
What is FTRE's SEC CIK number?
Fortrea Holdings Inc. (FTRE)'s SEC Central Index Key (CIK) is 1965040. EDGAR lists every FTRE filing under that number.
Ask anything about FTRE
The research agent reads FTRE's filings, financials, insider trades and 13F holders, then answers with sources.