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Management s Discussion and Analysis of Financial Condition and Results of Operations, but are also contained elsewhere in this Annual Report. Although we believe that we have a reasonable basis for each forward-looking statement contained in this Annual Report, we caution you that these statements are based on a combination of facts and factors currently known by us and our expectations of the…
The business is unprofitable at the operating level (-1130.65% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue grew 17.3%, still solid. Margins contracted 33.1pp, which offsets some of the top-line progress.
Negative free cash flow of -$94M. The business is consuming cash, not generating it. Operating margin contracted 33.1pp YoY, cost discipline may be slipping.
Profitability & Returns
Revenue (TTM)
$7M
▲ +17.3% YoY
Net Income (TTM)
-$130M
▼ -22.1% YoY
Op. Margin
-1774.37%
▼ -33.1pp YoY
ROIC
-35.08%
▲ +14.5pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-$112M
▼ -15.0% YoY
Op. Cash Flow (TTM)
-$112M
▼ -14.6% YoY
Net Debt
-$208M
Net Cash Position
Cash & Equiv.
$277M
3Y CAGR: +57.5%
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