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Pharmaceutical preparations company · DE · FY ends Dec · Revenue $57M · -206.22% margin · -$143M FCF
The business is unprofitable at the operating level (-178.39% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue up 48.3% YoY with margins expanding 167.7pp.
Negative free cash flow of -$140M. The business is consuming cash, not generating it.
Profitability & Returns
Revenue (TTM)
$57M
▲ +48.3% YoY
Net Income (TTM)
-$107M
▲ +22.0% YoY
Op. Margin
-206.22%
▲ +167.7pp YoY
ROIC
-31.78%
▲ +15.0pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-$143M
▼ -5.8% YoY
Op. Cash Flow (TTM)
-$142M
▼ -5.6% YoY
Net Debt
-$347M
Net Cash Position
Cash & Equiv.
$380M
5Y CAGR: +52.1%
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