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Semiconductors & related devices company · DE · FY ends Dec · Revenue $96M · -38.40% margin · -$39M FCF
The business is unprofitable at the operating level (-35.53% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue up 110.5% YoY with margins expanding 76.0pp.
ROIC dropped from -88.80% to -105.15%, capital efficiency is deteriorating. Negative free cash flow of -$35M. The business is consuming cash, not generating it.
Profitability & Returns
Revenue (TTM)
$96M
▲ +110.5% YoY
Net Income (TTM)
-$43M
▼ -63.7% YoY
Op. Margin
-38.40%
▲ +76.0pp YoY
ROIC
-136.45%
▼ -16.4pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-$39M
▲ +4.9% YoY
Op. Cash Flow (TTM)
-$38M
▲ +3.6% YoY
Net Debt
$18M
Cash & Equiv.
$6M
5Y CAGR: -11.9%
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