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Biological products, (no diagnostic substances) company · FY ends Dec · Revenue $88M · -292.28% margin · -$236M FCF
The business is unprofitable at the operating level (-94.58% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue up 93.0% YoY with margins expanding 169.6pp.
Negative free cash flow of -$126M. The business is consuming cash, not generating it.
Profitability & Returns
Revenue (TTM)
$88M
▲ +93.0% YoY
Net Income (TTM)
-$290M
▲ +14.6% YoY
Op. Margin
-292.28%
▲ +169.6pp YoY
ROIC
-101.68%
▲ +0.5pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-$236M
▲ +28.0% YoY
Op. Cash Flow (TTM)
-$234M
▲ +28.4% YoY
Net Debt
-$79M
Net Cash Position
Cash & Equiv.
$150M
5Y CAGR: +2.0%
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