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Laboratory analytical instruments company · DE · FY ends Dec · Revenue $15M · -491.34% margin · -$50M FCF
The business is unprofitable at the operating level (-470.45% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue up 17.0% YoY with margins expanding 236.0pp.
Negative free cash flow of -$46M. The business is consuming cash, not generating it.
Profitability & Returns
Revenue (TTM)
$15M
▲ +17.0% YoY
Net Income (TTM)
-$70M
▲ +15.0% YoY
Op. Margin
-491.34%
▲ +236.0pp YoY
ROIC
-20.36%
▲ +1.0pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-$50M
▲ +6.9% YoY
Op. Cash Flow (TTM)
-$48M
▲ +3.6% YoY
Net Debt
-$144M
Net Cash Position
Cash & Equiv.
$167M
5Y CAGR: +90.8%
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