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Miscellaneous manufacturing industries company · E9 · FY ends Dec · Revenue $7M · -20.50% margin · -$3M FCF
The business is unprofitable at the operating level (-20.50% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue grew 61.9%, still solid. Margins contracted 23.0pp, which offsets some of the top-line progress.
Free cash flow declined 487% versus the prior year, cash generation momentum has weakened. ROIC dropped from 3.42% to -28.84%, capital efficiency is deteriorating.
Profitability & Returns
Revenue (TTM)
$7M
▲ +61.9% YoY
Net Income (TTM)
-$5M
▼ -4373.8% YoY
Op. Margin
-20.50%
▼ -23.0pp YoY
ROIC
-28.84%
▼ -32.3pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-$3M
▼ -487.3% YoY
Op. Cash Flow (TTM)
-$2M
▼ -423.4% YoY
Net Debt
-$2M
Net Cash Position
Cash & Equiv.
$2M
3Y CAGR: +14.2%
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