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Company Overview Inspire Veterinary owns and operates veterinary hospitals throughout the United States. The Company specializes in small animal general practice hospitals which serve all manner of companion pets, emphasizing canine and feline breeds and including equine care.
The business is unprofitable at the operating level (-54.41% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue declined 0.5% YoY. Margins deteriorated 11.4pp alongside, both lines moving the wrong way.
Negative free cash flow of -$10M. The business is consuming cash, not generating it. Operating margin contracted 11.4pp YoY, cost discipline may be slipping.
Profitability & Returns
Revenue (TTM)
$16M
▼ -0.5% YoY
Net Income (TTM)
-$12M
▲ +3.6% YoY
Op. Margin
-52.22%
▼ -11.4pp YoY
ROIC
-39.70%
▲ +48.4pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-$4M
▼ -143.6% YoY
Op. Cash Flow (TTM)
-$4M
▼ -161.9% YoY
Net Debt
$13M
Cash & Equiv.
$576K
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