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Services-computer programming, data processing, etc. company · NV · FY ends Dec · Revenue $1.36B · -19.71% margin · -$213M FCF
The business is unprofitable at the operating level (-19.88% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue up 83.4% YoY with margins expanding 79.8pp.
Negative free cash flow of -$239M. The business is consuming cash, not generating it.
Profitability & Returns
Revenue (TTM)
$1.36B
▲ +83.4% YoY
Net Income (TTM)
-$303M
▲ +65.3% YoY
Op. Margin
-19.71%
▲ +79.8pp YoY
ROIC
-29.34%
▲ +185.2pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-$213M
▼ -13.2% YoY
Op. Cash Flow (TTM)
-$186M
▼ -15.4% YoY
Net Debt
-$237M
Net Cash Position
Cash & Equiv.
$521M
3Y CAGR: +58.3%
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