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We are a United States based biopharmaceutical company engaging in the development, manufacturing, and commercialization of pharmaceutical products for the treatment of dermatological conditions with a focus on photodynamic therapy ( PDT ). The Company s products, which include Ameluz as well as the BF-RhodoLED and RhodoLED XL lamp series (together, the RhodoLED Lamps ), are used for the treatm…
The business is unprofitable at the operating level (-27.21% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue up 11.7% YoY with margins expanding 18.9pp.
Negative free cash flow of -$13M. The business is consuming cash, not generating it.
Profitability & Returns
Revenue (TTM)
$43M
▲ +11.7% YoY
Net Income (TTM)
-$11M
▲ +40.7% YoY
Op. Margin
-25.74%
▲ +18.9pp YoY
ROIC
-87.11%
▲ +70.1pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-$9M
▼ -30.0% YoY
Op. Cash Flow (TTM)
-$9M
▼ -30.1% YoY
Net Debt
$1M
Cash & Equiv.
$6M
5Y CAGR: +17.2%
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