/
We are a life sciences company that develops, manufactures, and markets bioproduction products and services which are designed to improve quality and de-risk biologic manufacturing, distribution, and transportation in the cell and gene therapy ("CGT") industry. Our products are used in basic and applied research and commercial manufacturing of biologic-based therapies.
The business is unprofitable at the operating level (-17.26% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue grew 28.9%, still solid. Margins contracted 11.3pp, which offsets some of the top-line progress.
ROIC dropped from -0.93% to -3.41%, capital efficiency is deteriorating. Operating margin contracted 11.3pp YoY, cost discipline may be slipping.
Profitability & Returns
Revenue (TTM)
$102M
▲ +28.9% YoY
Net Income (TTM)
-$3M
▲ +77.2% YoY
Op. Margin
-15.81%
▼ -11.3pp YoY
ROIC
-3.33%
▼ -2.5pp YoY
Cash Flow & Balance Sheet
FCF (FY)
$11M
▲ +104.4% YoY
Op. Cash Flow (TTM)
$18M
▲ +138.6% YoY
Net Debt
-$64M
Net Cash Position
Cash & Equiv.
$81M
5Y CAGR: +14.9%
5Y CAGR: +17.8%
Continue Research