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In the interest of disclosure, we have included in this Form 10-K certain material events and developments that have taken place through the date of filing of this Form 10-K with the SEC. The SEC allows us to disclose important information by referring to it in that manner.
The business is unprofitable at the operating level (-105.79% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue grew 4.7%, steady but not accelerating. Margins contracted 4.3pp, which offsets some of the top-line progress.
Negative free cash flow of -$7M. The business is consuming cash, not generating it. Operating margin contracted 4.3pp YoY, cost discipline may be slipping.
Profitability & Returns
Revenue (TTM)
$7M
▲ +4.7% YoY
Net Income (TTM)
-$23M
▼ -151.9% YoY
Op. Margin
-105.79%
▼ -4.3pp YoY
ROIC
-34.37%
▼ -1.9pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-$7M
▼ -123.5% YoY
Op. Cash Flow (TTM)
-$7M
▼ -135.8% YoY
Net Debt
$1M
Cash & Equiv.
$2M
3Y CAGR: +102.6%
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