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We are an advanced materials and technology development company operating in the fuel cell and hydrogen technology space, including liquid hydrogen carriers such as methanol. We are a world-leading company in the development of HT-PEM (High Temperature Proton Exchange Membrane) technology (with approximately 150 patents issued, pending, or licensed worldwide).
The business is unprofitable at the operating level (-560.71% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue up 113.3% YoY with margins expanding 2740.9pp.
ROIC dropped from -88.74% to -120.24%, capital efficiency is deteriorating.
Profitability & Returns
Revenue (TTM)
$49K
▲ +113.3% YoY
Net Income (TTM)
-$289K
▲ +42.6% YoY
Op. Margin
-34667.35%
▲ +2740.9pp YoY
ROIC
-948.22%
▼ -31.5pp YoY
Cash Flow & Balance Sheet
FCF
N/A
Op. Cash Flow (TTM)
-$3M
▲ +106.7% YoY
Net Debt
$2M
Cash & Equiv.
$468K
3Y CAGR: -22.6%
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