/
Further, any forward-looking statement speaks only as of the date on which it is made, and except to the extent required by applicable law, we undertake no obligation to update any forward-looking statement to reflect events or circumstances after the date on which the statement is made or to reflect the occurrence of unanticipated events, whether as a result of new information, future events o…
$45.17
+$0.97 (+2.19%)
Price from 40 days ago
The business is unprofitable at the operating level (-194.23% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue up 43.9% YoY with margins expanding 47.3pp. However, free cash flow softened 170%, worth monitoring whether this is timing or structural.
Free cash flow declined 170% versus the prior year, cash generation momentum has weakened. Negative free cash flow of -$29M. The business is consuming cash, not generating it.
9.1x earnings. The multiple is below average. Either the market is pricing in deterioration you should investigate, or there's genuine value here.
Based on TTM earnings · Diluted shares
Profitability & Returns
Revenue (TTM)
$6M
▲ +43.9% YoY
Net Income (TTM)
$92M
▼ -24.6% YoY
Op. Margin
1559.93%
▲ +47.3pp YoY
ROIC
41.31%
▼ -1.1pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-$35M
▼ -170.4% YoY
Op. Cash Flow (TTM)
-$35M
▼ -169.7% YoY
Net Debt
-$34M
Net Cash Position
Cash & Equiv.
$39M
5Y CAGR: +31.7%
Continue Research