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Medicinal chemicals & botanical products company · E9 · FY ends Sep · Revenue $19M · -8.69% margin · $134K FCF
The business is unprofitable at the operating level (-8.69% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue declined 21.7% YoY. Margins deteriorated 16.6pp alongside, both lines moving the wrong way.
ROIC dropped from 3.35% to -2.12%, capital efficiency is deteriorating. Net debt of $6M represents 44.8x FCF, leverage limits flexibility.
Profitability & Returns
Revenue (TTM)
$19M
▼ -21.7% YoY
Net Income (TTM)
-$2M
▼ -601.0% YoY
Op. Margin
-8.69%
▼ -16.6pp YoY
ROIC
-2.12%
▼ -5.5pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$134K
▲ +101.7% YoY
Op. Cash Flow (TTM)
$141K
▲ +101.8% YoY
Net Debt
$6M
Cash & Equiv.
$6M
5Y CAGR: +0.5%
5Y CAGR: -44.8%
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