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Formed in 2018, we are a publicly traded, alternative asset management and insurance solutions company that is focused on public and private debt securities in the North American market and the reinsurance of annuity products, primarily through our wholly-owned subsidiaries Mount Logan Management LLC ( ML Management ) and Ability Insurance Company, a Nebraska domiciled insurer ( Ability ), resp…
The business is unprofitable at the operating level (-125.11% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue grew 7.6%, steady but not accelerating. Margins contracted 105.5pp, which offsets some of the top-line progress.
ROIC dropped from -7.41% to -39.03%, capital efficiency is deteriorating. Operating margin contracted 105.5pp YoY, cost discipline may be slipping.
Profitability & Returns
Revenue (TTM)
$52M
▲ +7.6% YoY
Net Income (TTM)
-$64M
▼ -485.8% YoY
Op. Margin
-136.33%
▼ -105.5pp YoY
ROIC
-29.14%
▼ -31.6pp YoY
Cash Flow & Balance Sheet
FCF
N/A
Op. Cash Flow (FY)
-$22M
▲ +41.3% YoY
Net Debt
N/A
Cash & Equiv.
N/A
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