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We are a leading developer and manufacturer of high-performance, AI-enhanced Lithium-Metal ( Li-Metal ) and Lithium-ion ( Li-ion ) rechargeable battery technologies and battery materials for Energy Storage Systems ( ESS ), Urban Air Mobility ( UAM ), drones, robotics, electric vehicles ( EVs ), and other applications. The Company s mission is to accelerate the world s energy transition…
The business is unprofitable at the operating level (-393.40% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue up 929.4% YoY with margins expanding 4961.9pp.
Negative free cash flow of -$61M. The business is consuming cash, not generating it.
Profitability & Returns
Revenue (TTM)
$22M
▲ +929.4% YoY
Net Income (TTM)
-$73M
▲ +27.1% YoY
Op. Margin
-352.27%
▲ +4961.9pp YoY
ROIC
-26.18%
▲ +0.6pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-$58M
▲ +21.8% YoY
Op. Cash Flow (TTM)
-$55M
▲ +11.7% YoY
Net Debt
-$170M
Net Cash Position
Cash & Equiv.
$178M
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