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MANAGEMENT S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS, but they may appear in other sections as well. We cannot provide any assurance with respect to our future performance or results.
Operating margin is thin at 1.26%. Limited cushion if revenue slows or costs rise, not the profile of a wide-moat business.
Revenue declined 6.2% YoY. The question is whether this is cyclical or a structural shift.
Free cash flow declined 181% versus the prior year, cash generation momentum has weakened. Negative free cash flow of -$2M. The business is consuming cash, not generating it.
Profitability & Returns
Revenue (TTM)
$24M
▼ -6.2% YoY
Net Income (TTM)
$1M
▲ +236.7% YoY
Op. Margin
2.52%
▼ -0.6pp YoY
ROIC
2.95%
▼ -0.9pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-$1M
▼ -180.5% YoY
Op. Cash Flow (TTM)
-$654K
▼ -134.4% YoY
Net Debt
$3M
Cash & Equiv.
$3K
5Y CAGR: +0.5%
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