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Services-computer programming, data processing, etc. company · DE · FY ends Mar · Revenue $60M · -6.67% margin · $3M FCF
The business is unprofitable at the operating level (-12.34% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue grew 20.4%, still solid. Free cash flow declined 119% despite revenue growth, conversion is weakening.
Free cash flow declined 119% versus the prior year, cash generation momentum has weakened. Negative free cash flow of -$366K. The business is consuming cash, not generating it.
Profitability & Returns
Revenue (TTM)
$60M
▲ +20.4% YoY
Net Income (TTM)
-$4M
▲ +56.2% YoY
Op. Margin
-6.67%
▼ -0.8pp YoY
ROIC
-20.94%
▲ +1.5pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$3M
▼ -119.3% YoY
Op. Cash Flow (TTM)
$3M
▼ -109.6% YoY
Net Debt
-$3M
Net Cash Position
Cash & Equiv.
$3M
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