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Services-prepackaged software company · DE · FY ends Jan · Revenue $693M · -28.40% margin · $33M FCF
The business is unprofitable at the operating level (-28.40% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue grew 30.6%, still solid. Margins contracted 8.1pp, which offsets some of the top-line progress.
Operating margin contracted 8.1pp YoY, cost discipline may be slipping.
Profitability & Returns
Revenue (TTM)
$693M
▲ +30.6% YoY
Net Income (TTM)
-$398M
▼ -119.8% YoY
Op. Margin
-28.40%
▼ -8.1pp YoY
ROIC
-29.78%
Cash Flow & Balance Sheet
FCF (TTM)
$33M
▲ +163.7% YoY
Op. Cash Flow (TTM)
$34M
▲ +166.8% YoY
Net Debt
-$566M
Net Cash Position
Cash & Equiv.
$741M
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