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We have included important risks and uncertainties in the cautionary statements included in this Annual Report; particularly, the section titled Risk Factors incorporated by reference herein. Should one or more of these risks and uncertainties materialize, or should underlying assumptions, projections or expectations prove incorrect, actual results, performance or financial condition may vary m…
The business is unprofitable at the operating level (-191.31% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue declined 56.3% YoY. Margins deteriorated 166.9pp alongside, both lines moving the wrong way.
ROIC dropped from -33.77% to -120.29%, capital efficiency is deteriorating. Negative free cash flow of -$8M. The business is consuming cash, not generating it.
Profitability & Returns
Revenue (TTM)
$6M
▼ -56.3% YoY
Net Income (TTM)
-$13M
▼ -390.4% YoY
Op. Margin
-288.67%
▼ -166.9pp YoY
ROIC
-176.00%
▼ -86.5pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-$9M
▼ -158.8% YoY
Op. Cash Flow (TTM)
-$9M
▼ -158.8% YoY
Net Debt
-$3M
Net Cash Position
Cash & Equiv.
$4M
5Y CAGR: +26.1%
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