/
Services-business services, nec company · DE · FY ends Dec · Revenue $88M · -89.00% margin · -$19M FCF
The business is unprofitable at the operating level (-51.89% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue declined 20.7% YoY. Margins deteriorated 25.3pp alongside, both lines moving the wrong way.
ROIC dropped from -8.92% to -16.17%, capital efficiency is deteriorating. Negative free cash flow of -$19M. The business is consuming cash, not generating it.
Profitability & Returns
Revenue (TTM)
$88M
▼ -20.7% YoY
Net Income (TTM)
-$105M
▼ -785.6% YoY
Op. Margin
-89.00%
▼ -25.3pp YoY
ROIC
-29.11%
▼ -7.2pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-$19M
▼ -31.5% YoY
Op. Cash Flow (TTM)
-$12M
▼ -116.0% YoY
Net Debt
$119M
Cash & Equiv.
$26M
3Y CAGR: -5.7%
Continue Research