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Beverages company · C3 · FY ends Dec · Revenue $3M · -109.07% margin · -$2M FCF
The business is unprofitable at the operating level (-109.07% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue declined 6.9% YoY. Margins deteriorated 41.1pp alongside, both lines moving the wrong way.
Free cash flow declined 2876% versus the prior year, cash generation momentum has weakened. ROIC dropped from -81.91% to -96.95%, capital efficiency is deteriorating.
Profitability & Returns
Revenue (TTM)
$3M
▼ -6.9% YoY
Net Income (TTM)
-$3M
▼ -27.7% YoY
Op. Margin
-109.07%
▼ -41.1pp YoY
ROIC
-96.95%
▼ -15.0pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-$2M
▼ -2875.9% YoY
Op. Cash Flow (TTM)
-$2M
▼ -2840.6% YoY
Net Debt
-$14K
Net Cash Position
Cash & Equiv.
$620K
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