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We are an integrated, growth-oriented services company focused on providing products and services to our customers primarily in the oil and natural gas, aviation and utility infrastructure industries. Our primary business objective is to drive returns through improved execution by prioritizing asset utilization, margin expansion, and capital efficiency across the portfolio.
The business is unprofitable at the operating level (-129.67% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue declined 2.9% YoY. The question is whether this is cyclical or a structural shift.
Free cash flow declined 150% versus the prior year, cash generation momentum has weakened. Negative free cash flow of -$89M. The business is consuming cash, not generating it.
Profitability & Returns
Revenue (TTM)
$55M
▼ -2.9% YoY
Net Income (TTM)
$10M
▲ +102.2% YoY
Op. Margin
-104.48%
▲ +134.3pp YoY
ROIC
-17.21%
▲ +7.1pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-$106M
▼ -149.6% YoY
Op. Cash Flow (TTM)
-$24M
▼ -110.3% YoY
Net Debt
-$122M
Net Cash Position
Cash & Equiv.
$125M
5Y CAGR: -32.4%
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