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Laboratory analytical instruments company · DE · FY ends Dec · Revenue $29M · -114.03% margin · -$19M FCF
The business is unprofitable at the operating level (-116.95% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue declined 7.4% YoY. The question is whether this is cyclical or a structural shift.
Negative free cash flow of -$16M. The business is consuming cash, not generating it.
Profitability & Returns
Revenue (TTM)
$29M
▼ -7.4% YoY
Net Income (TTM)
-$32M
▲ +76.4% YoY
Op. Margin
-114.03%
▲ +220.9pp YoY
ROIC
-50.26%
▲ +54.7pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-$19M
▲ +76.3% YoY
Op. Cash Flow (TTM)
-$19M
▲ +76.3% YoY
Net Debt
-$8M
Net Cash Position
Cash & Equiv.
$14M
5Y CAGR: +27.4%
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