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Services-educational services company · E9 · FY ends Dec · Revenue $59M · -25.24% margin · -$4M FCF
The business is unprofitable at the operating level (-25.24% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue grew 6.1%, steady but not accelerating. Margins contracted 31.9pp, which offsets some of the top-line progress.
Free cash flow declined 208% versus the prior year, cash generation momentum has weakened. ROIC dropped from 15.58% to -69.88%, capital efficiency is deteriorating.
Profitability & Returns
Revenue (TTM)
$59M
▲ +6.1% YoY
Net Income (TTM)
-$13M
▼ -586.0% YoY
Op. Margin
-25.24%
▼ -31.9pp YoY
ROIC
-69.88%
▼ -85.5pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-$4M
▼ -207.6% YoY
Op. Cash Flow (TTM)
-$4M
▼ -199.6% YoY
Net Debt
-$8M
Net Cash Position
Cash & Equiv.
$11M
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