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DESCRIPTION OF BUSINESS Company Overview We were incorporated under the name Plasma Innovative Inc. on July 22, 2021 an emerging cold plasma application company. We intended to use our proprietary, cold plasma technology to treat crops and plant seeds for agriculture.
The business is unprofitable at the operating level (-29.95% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue declined 64.9% YoY. Margins deteriorated 37.8pp alongside, both lines moving the wrong way.
Free cash flow declined 109% versus the prior year, cash generation momentum has weakened. ROIC dropped from 23.00% to -16.44%, capital efficiency is deteriorating.
Profitability & Returns
Revenue (FY)
$8M
▼ -64.9% YoY
Net Income (TTM)
-$2M
▼ -306.1% YoY
Op. Margin
-29.95%
▼ -37.8pp YoY
ROIC
-15.07%
▼ -39.4pp YoY
Cash Flow & Balance Sheet
FCF (FY)
-$77K
▼ -108.9% YoY
Op. Cash Flow (TTM)
$1M
▼ -93.5% YoY
Net Debt
$7M
Cash & Equiv.
$206K
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