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Our mission is to deliver exceptional client service grounded in integrity, transparency, and excellence. Since our founding in 2002, we have experienced rapid and sustained growth, powered by our people, our values and our relentless commitment to innovative, client-focused solutions.
The business is unprofitable at the operating level (-16.18% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue grew 14.9%, still solid. Margins contracted 34.0pp, which offsets some of the top-line progress.
Operating margin contracted 34.0pp YoY, cost discipline may be slipping.
Profitability & Returns
Revenue (TTM)
$836M
▲ +14.9% YoY
Net Income (TTM)
-$2M
▼ -101.7% YoY
Op. Margin
-16.18%
▼ -34.0pp YoY
ROIC
-20.44%
Cash Flow & Balance Sheet
FCF (TTM)
$174M
▲ +21.3% YoY
Op. Cash Flow (TTM)
$185M
▲ +21.2% YoY
Net Debt
$273M
Cash & Equiv.
$250M
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