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Biological products, (no diagnostic substances) company · FY ends Dec · Revenue $22M · -415.48% margin · -$88M FCF
The business is unprofitable at the operating level (-380.85% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue declined 51.8% YoY. Margins deteriorated 210.9pp alongside, both lines moving the wrong way.
Negative free cash flow of -$89M. The business is consuming cash, not generating it. Operating margin contracted 210.9pp YoY, cost discipline may be slipping.
Profitability & Returns
Revenue (TTM)
$22M
▼ -51.8% YoY
Net Income (TTM)
-$86M
▼ -12.6% YoY
Op. Margin
-415.48%
▼ -210.9pp YoY
ROIC
-35.11%
▲ +11.1pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-$88M
▲ +20.3% YoY
Op. Cash Flow (TTM)
-$87M
▲ +18.5% YoY
Net Debt
-$101M
Net Cash Position
Cash & Equiv.
$140M
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