/
Electromedical & electrotherapeutic apparatus company · DE · FY ends Dec · Revenue $89M · -3.37% margin · -$3M FCF
The business is unprofitable at the operating level (-3.24% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue growth slowed to 2.7%, essentially flat. Margins also contracted 3.6pp. This is a business that needs a catalyst.
ROIC dropped from 0.76% to -7.41%, capital efficiency is deteriorating. Operating margin contracted 3.6pp YoY, cost discipline may be slipping.
Profitability & Returns
Revenue (TTM)
$89M
▲ +2.7% YoY
Net Income (TTM)
$2M
▲ +65.0% YoY
Op. Margin
-3.37%
▼ -3.6pp YoY
ROIC
-7.68%
▼ -8.2pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-$3M
▲ +182.6% YoY
Op. Cash Flow (TTM)
-$3M
▲ +182.6% YoY
Net Debt
-$20M
Net Cash Position
Cash & Equiv.
$22M
5Y CAGR: +5.0%
5Y CAGR: +13.4%
Continue Research