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Services-management consulting services company · M0 · FY ends Dec · Revenue $9M · -8.09% margin · $688K FCF
The business is unprofitable at the operating level (-8.09% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue declined 19.4% YoY. Margins deteriorated 24.2pp alongside, both lines moving the wrong way.
ROIC dropped from 12.13% to -6.61%, capital efficiency is deteriorating. Net debt of $3M represents 4.3x FCF, leverage limits flexibility.
Profitability & Returns
Revenue (TTM)
$9M
▼ -19.4% YoY
Net Income (TTM)
$119K
▼ -91.0% YoY
Op. Margin
-8.09%
▼ -24.2pp YoY
ROIC
-6.61%
▼ -18.7pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$688K
▲ +1.1% YoY
Op. Cash Flow (TTM)
$864K
▲ +7.7% YoY
Net Debt
$3M
Cash & Equiv.
$6M
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