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Pharmaceutical preparations company · NV · FY ends Dec · -2415.97% margin · -$3M FCF
The business is unprofitable at the operating level (-2415.97% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue declined 41.9% YoY. Margins deteriorated 1492.6pp alongside, both lines moving the wrong way.
ROIC dropped from -54.30% to -68.51%, capital efficiency is deteriorating. Negative free cash flow of -$3M. The business is consuming cash, not generating it.
Profitability & Returns
Revenue (FY)
$296K
▼ -41.9% YoY
Net Income (TTM)
-$9M
▼ -61.3% YoY
Op. Margin
-2415.97%
▼ -1492.6pp YoY
ROIC
-52.25%
▼ -14.2pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-$3M
▼ -65.1% YoY
Op. Cash Flow (TTM)
-$3M
▼ -65.1% YoY
Net Debt
$2M
Cash & Equiv.
$203K
5Y CAGR: -9.3%
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