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Electromedical & electrotherapeutic apparatus company · DE · FY ends Dec · Revenue $95M · -68.31% margin · -$49M FCF
The business is unprofitable at the operating level (-65.57% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue grew 36.1%, still solid. Margins contracted 4.9pp, which offsets some of the top-line progress.
Negative free cash flow of -$42M. The business is consuming cash, not generating it. Operating margin contracted 4.9pp YoY, cost discipline may be slipping.
Profitability & Returns
Revenue (TTM)
$95M
▲ +36.1% YoY
Net Income (TTM)
-$60M
▼ -32.0% YoY
Op. Margin
-68.31%
▼ -4.9pp YoY
ROIC
-28.51%
▲ +2.6pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-$49M
▼ -14.3% YoY
Op. Cash Flow (TTM)
-$49M
▼ -16.5% YoY
Net Debt
-$119M
Net Cash Position
Cash & Equiv.
$141M
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