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Services-computer processing & data preparation company · M0 · FY ends Jul · Revenue $90M · -1.18% margin · -$473K FCF
The business is unprofitable at the operating level (-1.18% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue grew 32.1%, still solid. Margins contracted 10.9pp, which offsets some of the top-line progress.
Free cash flow declined 154% versus the prior year, cash generation momentum has weakened. ROIC dropped from 18.78% to -2.67%, capital efficiency is deteriorating.
Profitability & Returns
Revenue (TTM)
$90M
▲ +32.1% YoY
Net Income (TTM)
$4M
▼ -36.0% YoY
Op. Margin
-1.18%
▼ -10.9pp YoY
ROIC
-2.67%
▼ -21.4pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-$473K
▼ -154.0% YoY
Op. Cash Flow (TTM)
$111K
▼ -93.0% YoY
Net Debt
-$5M
Net Cash Position
Cash & Equiv.
$12M
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