| Market Cap | $110.0M | |
| Enterprise Value | — | |
| Revenue | $100.0M | +2.1% |
| Gross Profit | $51.3M | −2.2% |
| EBITDA | -$4.6M | −49.6% |
| Net Income | -$14.9M | — |
| Diluted EPS | -$0.74 | — |
| Free Cash Flow | $4.4M | −69.5% |
| Ratio | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Trend · 11y | vs own | vs sector |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ▾Margins | ||||||||||||||
| Gross Margin | 29.57% | 38.42% | 48.82% | 55.31% | 59.73% | 58.98% | 55.92% | 57.76% | 56.87% | 56.73% | 54.39% | 32% | 57% | |
| Operating Margin | −46.82% | −32.06% | −18.23% | −7.39% | 3.91% | 2.83% | −7.00% | 9.56% | −1.34% | −7.70% | −8.39% | 32% | 37% | |
| EBITDA Margin | −27.61% | −15.61% | −5.10% | 3.83% | 15.94% | 14.63% | 2.98% | 17.46% | 5.89% | 2.17% | 1.07% | 32% | 42% | |
| NOPAT Margin | — | — | −14.41% | −5.84% | 3.91% | 2.83% | −5.53% | 8.09% | −1.06% | −6.08% | −6.62% | 17% | 32% | |
| Net Margin | −52.51% | −44.24% | −42.00% | −7.84% | 4.41% | 2.68% | −7.62% | 7.88% | −2.93% | −9.00% | −9.05% | 32% | 34% | |
| FCF Margin | — | −14.31% | −12.81% | −28.29% | 21.76% | 15.63% | 3.41% | 1.57% | 6.36% | 15.58% | 4.66% | 55% | 41% | |
| OCF Margin | — | 14.55% | 14.25% | −3.99% | 33.60% | 24.51% | 16.89% | 15.04% | 11.81% | 21.78% | 8.93% | 15% | 48% | |
| Gross Profitability | — | 36.97% | 32.05% | 40.79% | 40.19% | 40.67% | 44.98% | 38.11% | 38.01% | 42.32% | 41.72% | 75% | 73% | |
| Capex Intensity | 18.28% | 28.86% | 27.06% | 24.30% | 11.84% | 8.88% | 13.48% | 13.47% | 5.45% | 6.20% | 4.27% | 5% | 71% | |
| ▸Returns on Capital · 3 ratios | ||||||||||||||
| ▸DuPont factors (ROE drivers) · 4 ratios | ||||||||||||||
| ▸Earnings quality · 6 ratios | ||||||||||||||
| ▸Liquidity & coverage · 5 ratios | ||||||||||||||
| ▸Leverage · 2 ratios | ||||||||||||||
| ▸Working capital · 5 ratios | ||||||||||||||
| ▸Capital allocation · 2 ratios | ||||||||||||||
| ▸Per share · 6 ratios | ||||||||||||||
| ▸Other · 1 ratios | ||||||||||||||
The five drivers multiply to 13.2% vs reported ROE 13.5%. High ROE from margin and turnover is earned; from the equity multiplier it is borrowed.
| Line | 2015↗ | 2016↗ | 2017↗ | 2018↗ | 2019↗ | 2020↗ | 2021↗ | 2022↗ | 2023↗ | 2024↗ | 2025↗ |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $11.8M | $15.5M | $23.8M | $34.8M | $40.8M | $45.7M | $58.2M | $81.0M | $92.7M | $102.0M | $104.1M |
| YoY % | +31.5% | +53.2% | +46.2% | +17.3% | +12.2% | +27.2% | +39.3% | +14.5% | +10.0% | +2.1% | |
| Cost of Revenue | $8.3M | $9.5M | $12.2M | $15.5M | $16.4M | $18.8M | $25.6M | $34.2M | $40.0M | $44.1M | $47.5M |
| YoY % | +15.0% | +27.4% | +27.7% | +5.6% | +14.3% | +36.7% | +33.5% | +16.9% | +10.4% | +7.6% | |
| Gross Profit | $3.5M | $6.0M | $11.6M | $19.2M | $24.3M | $27.0M | $32.5M | $46.8M | $52.7M | $57.9M | $56.6M |
| YoY % | +70.9% | +94.7% | +65.7% | +26.6% | +10.8% | +20.6% | +43.9% | +12.7% | +9.8% | -2.2% | |
| R&D Expense | $3.4M | $4.1M | $4.2M | $5.0M | $5.3M | $5.6M | $7.0M | $10.0M | $12.1M | $13.9M | $15.9M |
| YoY % | +21.9% | +1.6% | +19.9% | +7.2% | +5.1% | +25.3% | +42.5% | +21.1% | +14.7% | +13.9% | |
| Selling & Marketing Expense | $3.8M | $4.5M | $6.2M | $8.4M | $10.0M | $10.3M | $15.5M | $22.4M | $27.0M | $28.1M | $26.1M |
| YoY % | +16.5% | +38.1% | +35.6% | +19.2% | +3.4% | +49.9% | +44.8% | +20.3% | +4.4% | -7.2% | |
| SG&A Expense | $1.8M | $2.4M | $5.6M | $8.4M | $7.4M | $9.7M | $12.7M | $15.8M | $20.6M | $23.9M | $23.2M |
| YoY % | +30.7% | +136.9% | +50.6% | -12.0% | +31.4% | +30.8% | +23.6% | +30.5% | +16.2% | -2.9% | |
| Total Operating Expenses | $9.0M | $10.9M | $15.9M | $21.8M | $22.7M | $25.7M | $36.6M | $39.0M | $54.0M | $65.7M | $65.4M |
| YoY % | +21.4% | +45.8% | +36.8% | +4.4% | +12.9% | +42.5% | +6.7% | +38.2% | +21.8% | -0.6% | |
| Operating Income | -$5.5M | -$5.0M | -$4.3M | -$2.6M | $1.6M | $1.3M | -$4.1M | $7.7M | -$1.2M | -$7.9M | -$8.7M |
| YoY % | -18.9% | ||||||||||
| Interest Expense | — | $1.2M | $1.1M | — | — | — | — | — | — | — | — |
| YoY % | -8.3% | ||||||||||
| Other Non-Operating Income | -$671,000 | -$47,000 | -$169,000 | -$252,000 | -$278,000 | -$271,000 | -$344,000 | -$240,000 | -$227,000 | -$393,000 | -$556,000 |
| Gains on Sale of Real Estate | — | — | — | — | — | -$3,000 | — | — | — | — | — |
| Pretax Income | -$6.2M | -$6.9M | -$9.8M | -$2.7M | $1.8M | $1.1M | -$4.4M | $7.6M | -$1.5M | -$8.4M | -$9.3M |
| YoY % | -35.4% | ||||||||||
| Income Tax | — | — | $160,000 | -$13,000 | -$41,000 | -$90,000 | $56,000 | $1.2M | $1.2M | $778,000 | $113,000 |
| YoY % | +1983.9% | +3.2% | -35.4% | -85.5% | |||||||
| Net Income (incl. NCI) | — | — | -$10.0M | -$2.7M | $1.8M | $1.2M | -$4.4M | $6.4M | -$2.7M | -$9.2M | -$9.4M |
| YoY % | -31.9% | ||||||||||
| Net Income | -$6.2M | -$6.9M | -$10.0M | -$2.7M | $1.8M | $1.2M | -$4.4M | $6.4M | -$2.7M | -$9.2M | -$9.4M |
| YoY % | -31.9% | ||||||||||
| EPS (Basic) | — | — | -$1.61 | -$0.26 | $0.16 | $0.11 | -$0.38 | $0.52 | -$0.22 | -$0.72 | -$0.74 |
| YoY % | -31.3% | ||||||||||
| EPS (Diluted) | — | — | -$1.61 | -$0.26 | $0.15 | $0.10 | -$0.38 | $0.52 | -$0.22 | -$0.72 | -$0.74 |
| YoY % | -33.3% | ||||||||||
| Weighted Avg Shares (Basic) | — | — | 6.2M | 10.6M | 11.3M | 11.4M | 11.6M | 12.2M | 12.4M | 12.7M | 12.7M |
| YoY % | +70.5% | +6.9% | +0.9% | +2.1% | +4.5% | +2.1% | +2.3% | +0.1% | |||
| Weighted Avg Shares (Diluted) | — | — | 6.2M | 10.6M | 11.8M | 11.7M | 11.6M | 12.3M | 12.4M | 12.7M | 12.7M |
| YoY % | +70.5% | +12.1% | -1.0% | -0.7% | +5.8% | +0.9% | +2.3% | +0.1% |
The sector classification is SIC-derived, not official GICS. Statement lines are XBRL facts as filed with the company's home regulator (SEC EDGAR for US filers; ESEF/EDINET and other national regulators for foreign filers); ratios and other derived figures are computed from them. A blank cell means the tag was absent — never imputed.
