/
Services-computer programming services company · K3 · FY ends Sep · Revenue $951K · -770.54% margin · -$2M FCF
The business is unprofitable at the operating level (-770.54% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue declined 40.2% YoY. Margins deteriorated 719.9pp alongside, both lines moving the wrong way.
ROIC dropped from -13.15% to -112.38%, capital efficiency is deteriorating. Negative free cash flow of -$2M. The business is consuming cash, not generating it.
Profitability & Returns
Revenue (TTM)
$951K
▼ -40.2% YoY
Net Income (TTM)
-$9M
▼ -1181.1% YoY
Op. Margin
-770.54%
▼ -719.9pp YoY
ROIC
-112.38%
▼ -99.2pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-$2M
▲ +29.1% YoY
Op. Cash Flow (TTM)
-$2M
▲ +33.0% YoY
Net Debt
-$4M
Net Cash Position
Cash & Equiv.
$4M
Continue Research