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We are a leading commercial cell engineering company focused on providing enabling platform technologies to advance the discovery, development and commercialization of next-generation cell therapeutics including cell and gene therapies and to support innovative cell-based research and development. Over more than two decades, we have developed and commercialized our proprietary Flow Electroporat…
The business is unprofitable at the operating level (-157.14% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue declined 14.5% YoY. Margins deteriorated 24.6pp alongside, both lines moving the wrong way.
ROIC dropped from -17.02% to -19.82%, capital efficiency is deteriorating. Negative free cash flow of -$36M. The business is consuming cash, not generating it.
Profitability & Returns
Revenue (TTM)
$32M
▼ -14.5% YoY
Net Income (TTM)
-$39M
▼ -8.7% YoY
Op. Margin
-141.81%
▼ -24.6pp YoY
ROIC
-18.49%
▼ -2.8pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-$29M
▼ -23.6% YoY
Op. Cash Flow (TTM)
-$28M
▼ -24.6% YoY
Net Debt
-$89M
Net Cash Position
Cash & Equiv.
$107M
5Y CAGR: +4.8%
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