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Services-computer programming services company · D8 · FY ends Dec · Revenue $3M · -74.26% margin · -$3M FCF
The business is unprofitable at the operating level (-74.26% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue declined 17.9% YoY. Margins deteriorated 95.2pp alongside, both lines moving the wrong way.
Free cash flow declined 299% versus the prior year, cash generation momentum has weakened. ROIC dropped from 22.93% to -40.33%, capital efficiency is deteriorating.
Profitability & Returns
Revenue (TTM)
$3M
▼ -17.9% YoY
Net Income (TTM)
-$3M
▼ -406.6% YoY
Op. Margin
-74.26%
▼ -95.2pp YoY
ROIC
-40.33%
▼ -63.3pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-$3M
▼ -299.2% YoY
Op. Cash Flow (TTM)
-$3M
▼ -294.3% YoY
Net Debt
-$1M
Net Cash Position
Cash & Equiv.
$3M
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