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Services-computer programming, data processing, etc. company · E9 · FY ends Jun · Revenue $30M · -10.47% margin · -$9M FCF
The business is unprofitable at the operating level (-10.47% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue declined 42.5% YoY. Margins deteriorated 8.8pp alongside, both lines moving the wrong way.
ROIC dropped from -8.73% to -14.43%, capital efficiency is deteriorating. Negative free cash flow of -$9M. The business is consuming cash, not generating it.
Profitability & Returns
Revenue (TTM)
$30M
▼ -42.5% YoY
Net Income (TTM)
-$3M
▼ -263.2% YoY
Op. Margin
-10.47%
▼ -8.8pp YoY
ROIC
-14.43%
▼ -5.7pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-$9M
▼ -529.9% YoY
Op. Cash Flow (TTM)
-$3M
▼ -108.5% YoY
Net Debt
-$11M
Net Cash Position
Cash & Equiv.
$11M
3Y CAGR: -30.0%
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