/
Real estate agents & managers (for others) company · E9 · FY ends Dec · Revenue $10M · -75.75% margin · -$3M FCF
The business is unprofitable at the operating level (-75.75% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue grew 19.5%, still solid. Margins contracted 35.5pp, which offsets some of the top-line progress.
ROIC dropped from -52.43% to -122.90%, capital efficiency is deteriorating. Negative free cash flow of -$3M. The business is consuming cash, not generating it.
Profitability & Returns
Revenue (TTM)
$10M
▲ +19.5% YoY
Net Income (TTM)
-$7M
▼ -125.5% YoY
Op. Margin
-75.75%
▼ -35.5pp YoY
ROIC
-122.90%
▼ -70.5pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-$3M
▼ -50.5% YoY
Op. Cash Flow (TTM)
-$3M
▼ -48.6% YoY
Net Debt
-$4M
Net Cash Position
Cash & Equiv.
$4M
3Y CAGR: +22.0%
Continue Research