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COMPANY OVERVIEW We are a leading provider of technology solutions to improve therapeutics manufacturing. We focus on impacting the manufacturing process by using o ur proprietary CodeEvolver directed evolution technology platform to discover, develop, enhance, and commercialize novel, high-performance enzymes and other classes of proteins.
The business is unprofitable at the operating level (-59.30% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue up 18.6% YoY with margins expanding 39.3pp.
Negative free cash flow of -$24M. The business is consuming cash, not generating it.
Profitability & Returns
Revenue (TTM)
$78M
▲ +18.6% YoY
Net Income (TTM)
-$32M
▲ +32.6% YoY
Op. Margin
-37.51%
▲ +39.3pp YoY
ROIC
-19.63%
▲ +14.0pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-$22M
▲ +55.6% YoY
Op. Cash Flow (TTM)
-$19M
▲ +60.8% YoY
Net Debt
$8M
Cash & Equiv.
$65M
5Y CAGR: +0.4%
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