/
Medicinal chemicals & botanical products company · FY ends May · Revenue $858M · -173.67% margin
The business is unprofitable at the operating level (-277.93% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue grew 4.1%, steady but not accelerating. Margins contracted 255.8pp, which offsets some of the top-line progress.
ROIC dropped from -3.82% to -67.63%, capital efficiency is deteriorating. Negative free cash flow of -$128M. The business is consuming cash, not generating it.
Profitability & Returns
Revenue (TTM)
$858M
▲ +4.1% YoY
Net Income (TTM)
-$1.34B
▼ -792.6% YoY
Op. Margin
-173.67%
▼ -255.8pp YoY
ROIC
-68.79%
▼ -63.8pp YoY
Cash Flow & Balance Sheet
FCF (FY)
-$128M
▼ -112.0% YoY
Op. Cash Flow (TTM)
-$45M
▼ -206.1% YoY
Net Debt
-$55M
Net Cash Position
Cash & Equiv.
$220M
5Y CAGR: +31.3%
Continue Research