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Defining the future of pharmaceutical quality control We are leading a global transformation toward fully automated microbial quality control ("MQC") within pharmaceutical manufacturing. Our products safeguard the most complex and critical bioprocessing workflows in the industry, enabling faster, safer, and higher capacity drug production.
The business is unprofitable at the operating level (-141.10% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue up 19.7% YoY with margins expanding 36.9pp.
ROIC dropped from -38.13% to -54.03%, capital efficiency is deteriorating. Negative free cash flow of -$32M. The business is consuming cash, not generating it.
Profitability & Returns
Revenue (TTM)
$34M
▲ +19.7% YoY
Net Income (TTM)
-$50M
▼ -0.5% YoY
Op. Margin
-144.20%
▲ +36.9pp YoY
ROIC
-68.20%
▼ -15.9pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-$38M
▲ +29.9% YoY
Op. Cash Flow (TTM)
-$37M
▲ +29.6% YoY
Net Debt
$761K
Cash & Equiv.
$23M
5Y CAGR: +15.9%
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