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Services-management consulting services company · E9 · FY ends Mar · Revenue $2M · -233.93% margin · -$2M FCF
The business is unprofitable at the operating level (-233.93% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue grew 23.2%, still solid. Margins contracted 172.4pp, which offsets some of the top-line progress.
ROIC dropped from -32.13% to -80.99%, capital efficiency is deteriorating. Negative free cash flow of -$2M. The business is consuming cash, not generating it.
Profitability & Returns
Revenue (TTM)
$2M
▲ +23.2% YoY
Net Income (TTM)
-$4M
▼ -375.5% YoY
Op. Margin
-233.93%
▼ -172.4pp YoY
ROIC
-80.99%
▼ -48.9pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-$2M
▲ +49.8% YoY
Op. Cash Flow (TTM)
-$2M
▲ +49.8% YoY
Net Debt
-$3M
Net Cash Position
Cash & Equiv.
$3M
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