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We are a premier life science technology company that designs, develops, and manufactures advanced sequencing solutions that enable scientists and clinical researchers to improve their understanding of the genome and ultimately, resolve genetically complex problems. Our products and technology, which include our HiFi long-read sequencing technology, address a broad set of applications including…
The business is unprofitable at the operating level (-346.15% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue grew 3.9%, steady but not accelerating. Margins contracted 38.2pp, which offsets some of the top-line progress.
ROIC dropped from -26.63% to -46.38%, capital efficiency is deteriorating. Negative free cash flow of -$114M. The business is consuming cash, not generating it.
Profitability & Returns
Revenue (TTM)
$160M
▲ +3.9% YoY
Net Income (TTM)
-$129M
▼ -76.3% YoY
Op. Margin
-83.29%
▼ -38.2pp YoY
ROIC
-14.47%
▼ -19.8pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-$116M
▲ +46.3% YoY
Op. Cash Flow (TTM)
-$112M
▲ +46.0% YoY
Net Debt
$427M
Cash & Equiv.
$276M
5Y CAGR: +15.2%
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