Pharmaceutical preparations company · FY ends Sep · Revenue $69M · -87.24% margin · -$10M FCF
The business is unprofitable at the operating level (-130.65% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue declined 3.4% YoY. The question is whether this is cyclical or a structural shift.
Negative free cash flow of -$32M. The business is consuming cash, not generating it.
Profitability & Returns
Revenue (TTM)
$69M
▼ -3.4% YoY
Net Income (TTM)
-$62M
▲ +29.4% YoY
Op. Margin
-87.24%
▲ +49.3pp YoY
ROIC
-30.94%
▲ +1.0pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-$10M
▲ +66.7% YoY
Op. Cash Flow (TTM)
-$8M
▲ +75.5% YoY
Net Debt
-$107M
Net Cash Position
Cash & Equiv.
$164M
5Y CAGR: -11.8%
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