/
Borqs Technologies, Inc. ( we , the Company or Borqs ) is a global leader in software, development services and products providing customizable, differentiated and scalable Android-based smart connected devices and cloud service solutions. We are a leading provider of commercial grade Android platform software for mobile chipset manufacturers, mobile device OEMs and mobile operators, as well as…
The business is unprofitable at the operating level (-127.88% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue declined 50.9% YoY. Margins deteriorated 116.6pp alongside, both lines moving the wrong way.
ROIC dropped from -62.55% to -295.86%, capital efficiency is deteriorating. Negative free cash flow of -$28M. The business is consuming cash, not generating it.
Profitability & Returns
Revenue (TTM)
$14M
▼ -50.9% YoY
Net Income (TTM)
$5M
▼ -67.9% YoY
Op. Margin
-127.88%
▼ -116.6pp YoY
ROIC
-295.86%
▼ -233.3pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-$28M
▼ -869.0% YoY
Op. Cash Flow (TTM)
-$28M
▼ -907.5% YoY
Net Debt
-$7M
Net Cash Position
Cash & Equiv.
$8M
5Y CAGR: -12.7%
Continue Research