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Surgical & medical instruments & apparatus company · DE · FY ends Dec · Revenue $80M · -44.82% margin · -$25M FCF
The business is unprofitable at the operating level (-47.95% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue declined 3.1% YoY. The question is whether this is cyclical or a structural shift.
Negative free cash flow of -$30M. The business is consuming cash, not generating it.
Profitability & Returns
Revenue (TTM)
$80M
▼ -3.1% YoY
Net Income (TTM)
-$37M
▲ +25.4% YoY
Op. Margin
-44.82%
▲ +15.3pp YoY
ROIC
-26.84%
▲ +3.0pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-$25M
▼ -31.6% YoY
Op. Cash Flow (TTM)
-$25M
▼ -32.9% YoY
Net Debt
-$39M
Net Cash Position
Cash & Equiv.
$85M
5Y CAGR: +22.9%
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