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Pharmaceutical preparations company · DE · FY ends Dec · Revenue $158M · -80.76% margin · -$104M FCF
The business is unprofitable at the operating level (-80.76% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue up 20.6% YoY with margins expanding 84.9pp.
Negative free cash flow of -$104M. The business is consuming cash, not generating it.
Profitability & Returns
Revenue (TTM)
$158M
▲ +20.6% YoY
Net Income (TTM)
-$107.32B
▼ -12.4% YoY
Op. Margin
-80.76%
▲ +84.9pp YoY
ROIC
-21.26%
▲ +19.0pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-$104M
▼ -29.6% YoY
Op. Cash Flow (TTM)
-$104M
▼ -32.8% YoY
Net Debt
-$438M
Net Cash Position
Cash & Equiv.
$441M
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