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Services-prepackaged software company · E9 · Revenue $10M · -111.52% margin · -$6M FCF
The business is unprofitable at the operating level (-111.52% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue declined 2.9% YoY. Margins deteriorated 98.8pp alongside, both lines moving the wrong way.
ROIC dropped from -27.21% to -156.22%, capital efficiency is deteriorating. Negative free cash flow of -$6M. The business is consuming cash, not generating it.
Profitability & Returns
Revenue (TTM)
$10M
▼ -2.9% YoY
Net Income (TTM)
-$11M
▼ -632.5% YoY
Op. Margin
-111.52%
▼ -98.8pp YoY
ROIC
-156.22%
▼ -129.0pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-$6M
▼ -4120.8% YoY
Op. Cash Flow (TTM)
-$6M
▼ -4116.0% YoY
Net Debt
$529K
Cash & Equiv.
$2M
3Y CAGR: +1.9%
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