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Pharmaceutical preparations company · DE · FY ends Dec · Revenue $4M · -3052.34% margin · -$71M FCF
The business is unprofitable at the operating level (-1906.37% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue up 181.5% YoY with margins expanding 2140.7pp.
ROIC dropped from -35.57% to -64.15%, capital efficiency is deteriorating. Negative free cash flow of -$79M. The business is consuming cash, not generating it.
Profitability & Returns
Revenue (TTM)
$4M
▲ +181.5% YoY
Net Income (TTM)
-$113M
▼ -40.3% YoY
Op. Margin
-3052.34%
▲ +2140.7pp YoY
ROIC
-66.07%
▼ -28.6pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-$71M
▼ -1.4% YoY
Op. Cash Flow (TTM)
-$70M
▼ -30.8% YoY
Net Debt
-$71M
Net Cash Position
Cash & Equiv.
$114M
5Y CAGR: -29.6%
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