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Data I/O Corporation ( Data I/O , We , Our , Us ) is a global market leader for advanced programming, security deployment, security provisioning and associated Intellectual Property ( IP ) protection and management solutions used in electronics manufacturing with flash memory, microcontrollers, and flash memory-based intelligent devices as well as secure element devices, authentication …
The business is unprofitable at the operating level (-23.80% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue declined 1.2% YoY. Margins deteriorated 9.8pp alongside, both lines moving the wrong way.
ROIC dropped from -11.54% to -23.29%, capital efficiency is deteriorating. Negative free cash flow of -$3M. The business is consuming cash, not generating it.
Profitability & Returns
Revenue (TTM)
$19M
▼ -1.2% YoY
Net Income (TTM)
-$8M
▼ -69.3% YoY
Op. Margin
-42.44%
▼ -9.8pp YoY
ROIC
-38.17%
▼ -11.8pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-$5M
▼ -90.5% YoY
Op. Cash Flow (TTM)
-$5M
▼ -123.8% YoY
Net Debt
-$4M
Net Cash Position
Cash & Equiv.
$6M
5Y CAGR: +1.1%
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