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Wholesale-computers & peripheral equipment & software company · Revenue $63M · -4.03% margin · $2M FCF
The business is unprofitable at the operating level (-4.03% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue grew 27.0%, still solid. Margins contracted 6.3pp, which offsets some of the top-line progress.
ROIC dropped from 6.03% to -10.03%, capital efficiency is deteriorating. Operating margin contracted 6.3pp YoY, cost discipline may be slipping.
Profitability & Returns
Revenue (TTM)
$63M
▲ +27.0% YoY
Net Income (TTM)
-$3M
▼ -672.4% YoY
Op. Margin
-4.03%
▼ -6.3pp YoY
ROIC
-10.03%
▼ -16.1pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$2M
▲ +77.4% YoY
Op. Cash Flow (TTM)
$3M
▲ +79.9% YoY
Net Debt
-$6M
Net Cash Position
Cash & Equiv.
$9M
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