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Corporate History and Background Reborn Coffee, Inc. ( Reborn Coffee ) was incorporated in the State of Florida in January 2018. In July 2022, Reborn Coffee migrated from Florida to Delaware, and filed a certificate of incorporation with the Secretary of State of the State of Delaware having the same capitalization structure as the Florida predecessor entity.
The business is unprofitable at the operating level (-71.58% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue up 36.5% YoY with margins expanding 6.3pp.
ROIC dropped from -57.78% to -69.18%, capital efficiency is deteriorating. Negative free cash flow of -$7M. The business is consuming cash, not generating it.
Profitability & Returns
Revenue (TTM)
$12M
▲ +36.5% YoY
Net Income (TTM)
-$9M
▼ -90.2% YoY
Op. Margin
-42.79%
▲ +6.3pp YoY
ROIC
-84.06%
▼ -11.4pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-$7M
▼ -43.7% YoY
Op. Cash Flow (TTM)
-$7M
▼ -88.4% YoY
Net Debt
$2M
Cash & Equiv.
$266K
3Y CAGR: +35.7%
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