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Our operations and business prospects are always subject to risks and uncertainties including, among others: Our ability to obtain any financing we may require; Our ability to pay or finance our existing secured debt, including secured debt to related parties of $10.5 million, of which $5.5 million is current, and the convertible notes issued to the partners of the related parties pursuant to t…
The business is unprofitable at the operating level (-6.97% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue up 304.5% YoY with margins expanding 141.3pp.
Net debt of $14M represents 28.7x FCF, leverage limits flexibility.
Profitability & Returns
Revenue (TTM)
$98M
▲ +304.5% YoY
Net Income (TTM)
-$5M
▲ +81.9% YoY
Op. Margin
-5.14%
▲ +141.3pp YoY
ROIC
-15.20%
▲ +64.2pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-$3M
▲ +105.5% YoY
Op. Cash Flow (TTM)
-$3M
▲ +105.5% YoY
Net Debt
$27M
Cash & Equiv.
$4M
3Y CAGR: +26.4%
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