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Arrangement of transportation of freight & cargo company · D8 · FY ends Sep · Revenue $44M · -24.59% margin · -$3M FCF
The business is unprofitable at the operating level (-24.59% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue declined 15.5% YoY. Margins deteriorated 25.5pp alongside, both lines moving the wrong way.
Free cash flow declined 342% versus the prior year, cash generation momentum has weakened. ROIC dropped from 3.94% to -129.58%, capital efficiency is deteriorating.
Profitability & Returns
Revenue (TTM)
$44M
▼ -15.5% YoY
Net Income (TTM)
-$11M
▼ -4937.5% YoY
Op. Margin
-24.59%
▼ -25.5pp YoY
ROIC
-129.58%
▼ -133.5pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-$3M
▼ -341.9% YoY
Op. Cash Flow (TTM)
-$3M
▼ -338.1% YoY
Net Debt
-$77K
Net Cash Position
Cash & Equiv.
$646K
3Y CAGR: -16.3%
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