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19.08% operating margin is respectable but not wide. ROIC at 1149.16%. Suggests the business covers its cost of capital, but doesn't point to a wide moat.
Revenue declined 19.7% YoY. Margins deteriorated 2.7pp alongside, both lines moving the wrong way.
ROIC dropped from 1684.71% to 1149.16%, capital efficiency is deteriorating.
Profitability & Returns
Revenue (TTM)
$322M
▼ -19.7% YoY
Net Income (TTM)
$4M
▼ -20.4% YoY
Op. Margin
13.90%
▼ -2.7pp YoY
ROIC
887.34%
▼ -535.5pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$41M
▲ +304.5% YoY
Op. Cash Flow (TTM)
$42M
▲ +307.5% YoY
Net Debt
-$47M
Net Cash Position
Cash & Equiv.
$53M
5Y CAGR: -2.1%
5Y CAGR: -3.9%
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