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Retail-eating places company · DE · FY ends Mar · Revenue $77M · -27.54% margin · -$16M FCF
The business is unprofitable at the operating level (-15.79% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue declined 3.0% YoY. Margins deteriorated 11.8pp alongside, both lines moving the wrong way.
Free cash flow declined 13% versus the prior year, cash generation momentum has weakened. Operating margin contracted 11.8pp YoY, cost discipline may be slipping.
Profitability & Returns
Revenue (TTM)
$77M
▼ -3.0% YoY
Net Income (TTM)
-$24M
▼ -56.4% YoY
Op. Margin
-27.54%
▼ -11.8pp YoY
ROIC
-150.20%
Cash Flow & Balance Sheet
FCF (TTM)
-$16M
▼ -13.0% YoY
Op. Cash Flow (TTM)
-$13M
▼ -7.0% YoY
Net Debt
$4M
Cash & Equiv.
$9M
5Y CAGR: +24.2%
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