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Company Overview We are a technology driven lease-to-own ("LTO") platform that integrates with omnichannel retailers and e-commerce platforms to power the purchasing of everyday durable goods by underserved U.S. nonprime customers. We primarily operate within the virtual LTO market, which is estimated to have a total addressable market opportunity of $50 - $60 billion.
The business is unprofitable at the operating level (-0.18% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue up 18.0% YoY with margins expanding 3.1pp.
Negative free cash flow of -$12M. The business is consuming cash, not generating it.
Profitability & Returns
Revenue (TTM)
$299M
▲ +18.0% YoY
Net Income (TTM)
$13M
▲ +105.3% YoY
Op. Margin
1.46%
▲ +3.1pp YoY
ROIC
918.88%
▲ +758.4pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-$3M
▲ +63.3% YoY
Op. Cash Flow (TTM)
-$3M
▲ +63.4% YoY
Net Debt
-$22M
Net Cash Position
Cash & Equiv.
$22M
3Y CAGR: +11.7%
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