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Our Company We are a leading provider of augmented reality (AR) and virtual reality (VR) educational technology products. We focus on United States K-12 schools, the Career & Technical Education (CTE) sector and select international markets.
The business is unprofitable at the operating level (-79.48% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue declined 26.9% YoY. Margins deteriorated 33.1pp alongside, both lines moving the wrong way.
Negative free cash flow of -$18M. The business is consuming cash, not generating it. Operating margin contracted 33.1pp YoY, cost discipline may be slipping.
Profitability & Returns
Revenue (TTM)
$26M
▼ -26.9% YoY
Net Income (TTM)
-$26M
▼ -21.9% YoY
Op. Margin
-78.52%
▼ -33.1pp YoY
ROIC
-65.58%
▲ +4.2pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-$16M
▼ -102.5% YoY
Op. Cash Flow (TTM)
-$16M
▼ -102.5% YoY
Net Debt
$20M
Cash & Equiv.
$3M
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