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We are a U.S.-based integrated cross-border supply chain solution provider with a strategic focus on the Asian market including China and South Korea. We primarily provide customized cross-border ocean freight solutions and airfreight solutions in the U.S. that specifically cater to our customers requirements and needs in transporting goods into the U.S.
The business is unprofitable at the operating level (-27.88% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue declined 2.9% YoY. Margins deteriorated 25.0pp alongside, both lines moving the wrong way.
ROIC dropped from -8.89% to -58.15%, capital efficiency is deteriorating. Negative free cash flow of -$3M. The business is consuming cash, not generating it.
Profitability & Returns
Revenue (TTM)
$24M
▼ -2.9% YoY
Net Income (TTM)
-$4M
▼ -2229.0% YoY
Op. Margin
-23.46%
▼ -25.0pp YoY
ROIC
-34.35%
▼ -49.3pp YoY
Cash Flow & Balance Sheet
FCF (FY)
-$3M
▼ -4942.5% YoY
Op. Cash Flow (FY)
-$3M
▼ -4849.7% YoY
Net Debt
-$1M
Net Cash Position
Cash & Equiv.
$1M
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