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Services-prepackaged software company · NV · FY ends Dec · Revenue $190M · -48.84% margin
The business is unprofitable at the operating level (-52.59% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue grew 21.0%, still solid. Margins contracted 54.4pp, which offsets some of the top-line progress.
ROIC dropped from 2.09% to -71.09%, capital efficiency is deteriorating. Operating margin contracted 54.4pp YoY, cost discipline may be slipping.
Profitability & Returns
Revenue (TTM)
$190M
▲ +21.0% YoY
Net Income (TTM)
-$90M
▼ -6424.3% YoY
Op. Margin
-48.84%
▼ -54.4pp YoY
ROIC
-67.10%
▼ -73.2pp YoY
Cash Flow & Balance Sheet
FCF (FY)
$19M
▲ +14.5% YoY
Op. Cash Flow (TTM)
$23M
▲ +6.0% YoY
Net Debt
$3M
Cash & Equiv.
$16M
5Y CAGR: +74.5%
3Y CAGR: +106.0%
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