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No institutional (13F) filings cover this company, so the Overview and 13F tabs are thin. Everything drawn from its SEC filings is here.
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What the company returns to shareholders — and whether it's covered by cash.
No dividend to cover. Last year: $0 dividends + $0 buybacks = $0 returned on -$130.2M FCF.
Yields use the latest fiscal-year dividends/buybacks over current market cap. Dividends and buybacks from the SEC cash-flow statement; payout coverage vs net income and free cash flow. Educational — not a recommendation.
Solve the discounted cash flow backwards, then stress-test the assumptions.
Average free cash flow across the last 1 positive fiscal year (FY2023). Smooths the cycle. Stock compensation is NOT charged — it is added back inside operating cash flow.
To be worth $0.34 today, the market must believe free cash flow compounds -8.4%/yr for a decade (off $95.4M on the 3-yr avg basis).
On the basis ($75.9M) the requirement is -5.0%/yr. Shares issued to employees are added back in operating cash flow, so this basis treats them as free.
Default is the published 10.0% — this company's own cost of capital could not be computed.
2-stage DCF · 0.02B shares (market data) · net debt $603.8M
Today's price is outside this grid at every discount rate shown — the assumptions it requires lie beyond the plotted range, which is itself the finding.
mean -17.9% · volatility σ 169% · implied rate exceeded in 1/2 yrs
Central path = implied -8.4%/yr growth; shaded band = ±1σ (169%) of this company's historical FCF volatility, widening with time. The wider the band, the less certain the growth.
Reverse DCF: rather than guessing a fair value, we solve for the growth the current price implies, then you stress-test the assumptions. Enterprise value of the FCF stream, less net debt, ÷ shares. Educational — not a recommendation.
How much the company owes, how it's trended, and how comfortably it's serviced.
Cash of $32.9M (at 2025-12-31) covers the $9.5M due within a year 3.5× over. Scheduled principal only (excludes interest & revolver draws). As of 2026-03-31 (10-Q). The cash figure is from 2025-12-31, so the two are not the same balance-sheet date — the schedule has not been refiled since.
Insufficient EBITDA/debt history.
Green ≤ 1.5× · amber ≤ 3× · red > 3× (leverage relative to cash earnings).
Thin coverage — earnings barely cover interest. Effective rate ~13.7% on $636.7M of debt.
Cash of $32.9M fully covers short-term debt of $0.
Mostly long-term debt (balance-sheet current vs non-current split). See the maturity ladder above for the year-by-year repayment schedule.
Debt, cash, interest and equity from the SEC balance sheet & income statement. Effective rate = interest ÷ average debt. Maturity ladder from the SEC long-term-debt repayment schedule. Educational — not a recommendation.
EOD close · as of 2026-07-28 · 95d old
How a revenue dollar becomes profit — FY2025
Dividends and buybacks are cash paid out, shown here against the same year's profit for scale — not funded from it.
Each value shows its share of revenue below it (common-size).
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2018 |
|---|---|---|---|---|---|---|---|
| Revenue | $361.8M 100.0% | $798.9M 100.0% | $734.7M 100.0% | $631.7M 100.0% | $1.06B 100.0% | $877.4M 100.0% | $226.2M 100.0% |
| Cost of Revenue | $96.1M 26.6% | $130.6M 16.3% | $159.0M 21.6% | $187.7M 29.7% | $239.3M 22.5% | $199.2M 22.7% | $79.6M 35.2% |
| Selling, General & Admin | $90.8M 25.1% | $82.1M 10.3% | $93.1M 12.7% | $116.5M 18.4% | $98.2M 9.2% | $197.2M 22.5% | $27.5M 12.1% |
| Total Operating Expenses | $774.7M 214.1% | $805.9M 100.9% | $816.4M 111.1% | $950.3M 150.4% | $1.55B 146.1% | $941.9M 107.4% | $197.4M 87.3% |
| Operating Income | -$412.9M -114.1% | -$7.0M -0.9% | -$81.7M -11.1% | -$318.7M -50.4% | -$489.4M -46.1% | -$64.5M -7.4% | $28.8M 12.7% |
| Interest Expense | $87.3M 24.1% | $72.9M 9.1% | $69.5M 9.5% | $57.1M 9.0% | $33.5M 3.2% | $33.0M 3.8% | $224K 0.1% |
| Other Income (Expense), net | $786K 0.2% | $834K 0.1% | $37K 0.0% | $115K 0.0% | $669K 0.1% | $358K 0.0% | -$379K -0.2% |
| Pretax Income | -$501.1M -138.5% | -$5.1M -0.6% | -$151.1M -20.6% | -$375.6M -59.5% | -$534.2M -50.3% | -$97.2M -11.1% | $28.2M 12.4% |
| Income Tax Expense | -$3.3M -0.9% | $2.3M 0.3% | $154K 0.0% | $764K 0.1% | -$24K -0.0% | $43K 0.0% | $46K 0.0% |
| Net Income | -$257.1M -71.1% | -$2.9M -0.4% | -$63.3M -8.6% | -$148.7M -23.5% | -$189.4M -17.8% | -$44.3M -5.0% | $28.1M 12.4% |
| Per Share | |||||||
| EPS (Basic) | -$20.17 | -$0.66 | -$7.19 | -$17.72 | -$26.80 | -$3.35 | — |
| EPS (Diluted) | -$20.17 | -$0.66 | -$7.19 | -$17.72 | -$26.80 | -$3.35 | — |
| Weighted Avg Shares (Basic) | 12.9M | 10.0M | 9.3M | 8.4M | 7.1M | 5.6M | — |
| Weighted Avg Shares (Diluted) | 12.9M | 10.0M | 9.3M | 8.4M | 7.1M | 5.6M | — |
Source: SEC EDGAR XBRL filings (annual, fiscal year). Quarterly flow items are derived from cumulative filings; balance-sheet figures are as-of each period end. Ratios and margins are computed, not reported.
EOD close · as of 2026-07-28
Is the profit real, and how strong is the balance sheet?
FY2025 · every deduction from revenue to net income
DuPont — the three levers
ROE -679% against ROIC -38% — -641% of the return on equity comes from leverage and buybacks rather than from the operating business.
Equity is the year-end figure. On average equity over the two year-ends, ROE is -183.9% — the two diverge when buybacks or issuance move equity during the year.
What the company owes vs. what it holds
This shows debt/cash structure and net leverage. The year-by-year maturity schedule is on the Debt & Leverage tab.
Latest year: profit growth vs revenue growth
Profit and sales moved in opposite directions this year.
Each line as % of revenue — the trend in color
| % of revenue | FY2018 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|
| Cost of Revenue | 35.2 | 22.7 | 22.5 | 29.7 | 21.6 | 16.3 | 26.6 |
| SG&A | 12.1 | 22.5 | 9.2 | 18.4 | 12.7 | 10.3 | 25.1 |
| Operating Income | 12.7 | -7.4 | -46.1 | -50.4 | -11.1 | -0.9 | -114.1 |
| Income Tax | 0.0 | 0.0 | -0.0 | 0.1 | 0.0 | 0.3 | -0.9 |
| Net Income | 12.4 | -5.0 | -17.8 | -23.5 | -8.6 | -0.4 | -71.1 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on GOCOQ: price, valuation and headline fundamentals from SEC filings. The four questions at the top of the page are where the judgements live.
Cash conversion and accruals. The full answer — share-based compensation, the cash conversion waterfall, working-capital trend — is still being built, so this block states what it measures rather than issuing a verdict.
One year is not a trend. The spec asks for a 3- and 5-year average of FCF/net income precisely because a single year turns on working-capital timing, and that arrives with the full Q2 block.