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Introduction The Company was incorporated in May 1988 to produce and sell premium, super premium and ultra-premium varietals. The Company was originally established as a sole proprietorship by Oregon winegrower Jim Bernau in 1983.
The business is unprofitable at the operating level (-3.86% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue declined 6.5% YoY. Margins deteriorated 5.3pp alongside, both lines moving the wrong way.
Negative free cash flow of -$2M. The business is consuming cash, not generating it. Operating margin contracted 5.3pp YoY, cost discipline may be slipping.
Profitability & Returns
Revenue (TTM)
$38M
▼ -6.5% YoY
Net Income (TTM)
-$754K
▼ -678.4% YoY
Op. Margin
-3.28%
▼ -5.3pp YoY
ROIC
-1.03%
▼ -1.7pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-$53K
▲ +56.1% YoY
Op. Cash Flow (TTM)
$342K
▲ +44.7% YoY
Net Debt
$26M
Cash & Equiv.
$405K
5Y CAGR: +6.4%
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