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Incorporated in 1954, Scientific Industries, Inc., a Delaware corporation ( SI and along with its subsidiaries, the Company ), is engaged in the design, manufacture, and marketing of standard benchtop laboratory equipment ( Benchtop Laboratory Equipment ), and through its wholly-owned subsidiary, Scientific Bioprocessing Holdings, Inc., a Delaware corporation ( SBHI ), the design, manufacture, …
The business is unprofitable at the operating level (-156.12% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue grew 5.4%, steady but not accelerating.
ROIC dropped from -51.23% to -57.28%, capital efficiency is deteriorating. Negative free cash flow of -$8M. The business is consuming cash, not generating it.
Profitability & Returns
Revenue (TTM)
$5M
▲ +5.4% YoY
Net Income (TTM)
-$1M
▲ +81.1% YoY
Op. Margin
-139.89%
▲ +15.2pp YoY
ROIC
-53.94%
▼ -6.1pp YoY
Cash Flow & Balance Sheet
FCF (FY)
-$8M
▼ -117.1% YoY
Op. Cash Flow (FY)
-$8M
▼ -121.2% YoY
Net Debt
$86K
Cash & Equiv.
$798K
5Y CAGR: -8.3%
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