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Services-computer programming services company · FL · FY ends Dec · Revenue $59M · 0.95% margin · $1M FCF
The business is unprofitable at the operating level (-2.42% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue grew 4.5%, steady but not accelerating. Free cash flow declined 39% despite revenue growth, conversion is weakening.
Free cash flow declined 39% versus the prior year, cash generation momentum has weakened. Net debt of $85M represents 74.5x FCF, leverage limits flexibility.
Profitability & Returns
Revenue (TTM)
$59M
▲ +4.5% YoY
Net Income (TTM)
-$12M
▲ +21.0% YoY
Op. Margin
0.95%
▲ +6.3pp YoY
ROIC
0.52%
▲ +3.8pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$1M
▼ -38.8% YoY
Op. Cash Flow (TTM)
$1M
▼ -33.3% YoY
Net Debt
$88M
Cash & Equiv.
$594K
5Y CAGR: +30.2%
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