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Corporate History and Background The Company is engaged in the manufacturing and distribution of ready-to-drink and ready-to-blend frozen beverages and food, including smoothies, shakes, frappes and juice pops. The current operation was established following a 2012 reverse merger into an inactive Delaware corporation, formed on February 25, 2010.
The business is unprofitable at the operating level (-24.16% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue grew 32.6%, still solid.
ROIC dropped from -132.61% to -187.18%, capital efficiency is deteriorating. Negative free cash flow of -$2M. The business is consuming cash, not generating it.
Profitability & Returns
Revenue (TTM)
$17M
▲ +32.6% YoY
Net Income (TTM)
-$3M
▲ +4.6% YoY
Op. Margin
-18.51%
▲ +1.7pp YoY
ROIC
-101.49%
▼ -54.6pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-$4M
▲ +21.6% YoY
Op. Cash Flow (TTM)
-$4M
▲ +25.3% YoY
Net Debt
-$592K
Net Cash Position
Cash & Equiv.
$2M
5Y CAGR: +40.8%
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