/
We are a diversified, power-backed hardware technology company focused on the development, integration, and deployment of electrified and energy-intensive systems across multiple end markets. Our operating and development initiatives are organized around a common foundation of power management, electrification, and integrated hardware know-how, with current focus areas including commercial EVs,…
The business is unprofitable at the operating level (-651.31% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue grew 217.6%, still solid. Margins contracted 227.8pp, which offsets some of the top-line progress.
ROIC dropped from -25.10% to -206.01%, capital efficiency is deteriorating. Negative free cash flow of -$6M. The business is consuming cash, not generating it.
Profitability & Returns
Revenue (TTM)
$8M
▲ +217.6% YoY
Net Income (TTM)
-$29M
▼ -342.2% YoY
Op. Margin
-378.05%
▼ -227.8pp YoY
ROIC
-246.28%
▼ -180.9pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-$6M
▼ -46.5% YoY
Op. Cash Flow (TTM)
-$5M
▼ -59.4% YoY
Net Debt
$8M
Cash & Equiv.
$2M
5Y CAGR: +131.8%
Continue Research