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We are a life sciences company transforming healthcare innovation by accelerating biomarker breakthroughs from discovery to diagnostics using our ultra-sensitive translational research and spatial biology instruments, consumables, and services. We continue to invest in pushing a paradigm shift in healthcare from an emphasis on later-stage treatment to a focus on earlier detection, monitoring, p…
The business is unprofitable at the operating level (-91.35% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue growth slowed to 0.5%, essentially flat. Margins also contracted 52.9pp. This is a business that needs a catalyst.
ROIC dropped from -10.96% to -28.32%, capital efficiency is deteriorating. Negative free cash flow of -$80M. The business is consuming cash, not generating it.
Profitability & Returns
Revenue (TTM)
$143M
▲ +0.5% YoY
Net Income (TTM)
-$104M
▼ -178.1% YoY
Op. Margin
-98.16%
▼ -52.9pp YoY
ROIC
-33.31%
▼ -17.4pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-$83M
▼ -107.2% YoY
Op. Cash Flow (TTM)
-$81M
▼ -119.6% YoY
Net Debt
-$64M
Net Cash Position
Cash & Equiv.
$99M
3Y CAGR: +9.5%
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