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We are a pioneer in the successful commercialization of Magnetoresistive Random Access Memory (MRAM) technology. Our portfolio of MRAM technologies, including Toggle MRAM, Tunnel Magneto Resistance (TMR) Sensors, and Spin-transfer Torque MRAM (STT-MRAM), is delivering superior performance, persistence and reliability in non-volatile memories that transform how mission-critical data is p…
$30.11
+$0.00 (+0.00%)
Price from 3 days ago
The business is unprofitable at the operating level (-11.79% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue grew 9.5%, steady but not accelerating. Free cash flow declined 23% despite revenue growth, conversion is weakening.
At 3011x earnings, the current multiple leaves limited room for execution misses or growth deceleration. Free cash flow declined 23% versus the prior year, cash generation momentum has weakened.
3011.0x earnings. The market is pricing in years of above-average growth. If that thesis breaks, downside from multiple compression alone could be 30%+. This is a stock where you're paying for the future, not the present.
Based on TTM earnings · Diluted shares
Profitability & Returns
Revenue (TTM)
$57M
▲ +9.5% YoY
Net Income (TTM)
$284K
▼ -175.0% YoY
Op. Margin
-12.81%
▲ +2.3pp YoY
ROIC
-8.32%
▲ +1.8pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-$1M
▼ -22.9% YoY
Op. Cash Flow (TTM)
$9M
▲ +40.3% YoY
Net Debt
-$39M
Net Cash Position
Cash & Equiv.
$40M
5Y CAGR: +5.6%
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