Pharmaceutical preparations company · DE · FY ends Dec · Revenue $1M · -1881.66% margin · -$19M FCF
The business is unprofitable at the operating level (-1942.20% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue declined 49.9% YoY. Margins deteriorated 1251.5pp alongside, both lines moving the wrong way.
ROIC dropped from -81.28% to -123.33%, capital efficiency is deteriorating. Negative free cash flow of -$19M. The business is consuming cash, not generating it.
Profitability & Returns
Revenue (TTM)
$1M
▼ -49.9% YoY
Net Income (TTM)
-$22M
▼ -42.1% YoY
Op. Margin
-1881.66%
▼ -1251.5pp YoY
ROIC
-150.58%
▼ -42.0pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-$19M
▼ -30.1% YoY
Op. Cash Flow (TTM)
-$18M
▼ -34.4% YoY
Net Debt
-$15M
Net Cash Position
Cash & Equiv.
$16M
5Y CAGR: -26.6%
Continue Research