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BioNexus Gene Lab Corp. is a Wyoming corporation with two principal operating subsidiaries in Malaysia: Chemrex Corporation Sdn. Chemrex is engaged in the distribution of chemical raw materials, primarily for industrial applications in Southeast Asia.
The business is unprofitable at the operating level (-38.53% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue declined 26.0% YoY. Margins deteriorated 23.4pp alongside, both lines moving the wrong way.
ROIC dropped from -13.57% to -27.04%, capital efficiency is deteriorating. Negative free cash flow of -$2M. The business is consuming cash, not generating it.
Profitability & Returns
Revenue (TTM)
$6M
▼ -26.0% YoY
Net Income (TTM)
-$3M
▼ -86.7% YoY
Op. Margin
-50.26%
▼ -23.4pp YoY
ROIC
-28.67%
▼ -13.5pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-$1M
▲ +19.2% YoY
Op. Cash Flow (TTM)
-$1M
▲ +12.2% YoY
Net Debt
-$1M
Net Cash Position
Cash & Equiv.
$1M
5Y CAGR: -7.5%
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