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Management s Discussion and Analysis of Financial Condition and Results of Operations. Although we believe our assumptions concerning future events are reasonable, several risks, uncertainties, and other factors could cause actual results and trends to differ materially from those projected, including but not limited to: Business and Industry Significant debt in current liabilities, certain of …
The business is unprofitable at the operating level (-0.54% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue declined 12.0% YoY. The question is whether this is cyclical or a structural shift.
Negative free cash flow of -$779K. The business is consuming cash, not generating it.
Profitability & Returns
Revenue (TTM)
$277M
▼ -12.0% YoY
Net Income (TTM)
$7M
▲ +35.1% YoY
Op. Margin
5.08%
▲ +0.8pp YoY
ROIC
27.53%
▲ +4.2pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$2M
▲ +95.0% YoY
Op. Cash Flow (TTM)
$2M
▲ +95.1% YoY
Net Debt
-$254K
Net Cash Position
Cash & Equiv.
$401K
5Y CAGR: +9.8%
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