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Pharmaceutical preparations company · NV · FY ends Mar · Revenue $790K · -8847.85% margin · -$60M FCF
The business is unprofitable at the operating level (-11517.08% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue declined 54.3% YoY. Margins deteriorated 8413.6pp alongside, both lines moving the wrong way.
ROIC dropped from -39.76% to -46.96%, capital efficiency is deteriorating. Negative free cash flow of -$42M. The business is consuming cash, not generating it.
Profitability & Returns
Revenue (TTM)
$790K
▼ -54.3% YoY
Net Income (TTM)
-$67M
▼ -75.1% YoY
Op. Margin
-8847.85%
▼ -8413.6pp YoY
ROIC
-87.80%
▼ -7.2pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-$60M
▼ -63.1% YoY
Op. Cash Flow (TTM)
-$60M
▼ -63.1% YoY
Net Debt
-$60M
Net Cash Position
Cash & Equiv.
$62M
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