Revenue performance and profitability
- Revenue: $14,883,000, YoY +3.63%, QoQ +3.92%
- Gross Profit: $3,032,000; Gross Margin: 20.37%; YoY margin change: -4.62%; QoQ: +43.70%
- EBITDA: $1,115,000; EBITDA Margin: 7.49%
- Operating Income: $709,000; Operating Margin: 4.76%; YoY: -26.38%; QoQ: +152.67%
- Net Income: -$3,164,000; Net Margin: -21.26%; YoY: -788.76%; QoQ: -106.93%
- EPS: -$1.44; Diluted EPS: -$1.44; YoY: -800%; QoQ: -108.70%
Liquidity, cash flow and balance sheet health
- Net cash provided by operating activities: -$1,997,000; Free Cash Flow: -$2,728,000
- Cash and cash equivalents: $11,988,000; Short-term investments: $14,684,000; Total cash/cash equivalents and short-term investments: $26,672,000
- Total assets: $118,955,000; Total liabilities: $220,381,000; Total stockholders’ equity: -$76,360,000
- Long-term debt: $196,548,000; Total debt: $196,990,000; Net debt: $185,002,000
- Current ratio: 1.424; Quick ratio: 1.424; Interest coverage: 0.194
Capital structure and leverage
- Debt-to-capitalization: 1.633x; Debt-to-equity: -2.58x; Long-term debt to capitalization: 1.635x
- Equity multiplier: -1.558 (negative equity)
- Cash Flow Coverage: -0.0101; Free cash flow to operating cash flow ratio: 1.366 (positive cash flow of operations relative to FCF is weak given negative net income and high non-cash charges)
Valuation and relative positioning
- Price-to-sales: 3.07x; Price-to-book and price-to-earnings are negative due to negative book value and net income
- Enterprise value multiple: 206.97x; Price/Operating cash flow and price/FCF are highly negative or extreme due to losses and leverage
- Compared with peers (HTHT, IHG, HLT, etc.), INTG’s gross margin (roughly 20.4%) and net margin (-21.3%) lag peers with mid- to high-20s to 40s operating margins and positive earnings in many cases. Leverage is significantly higher for INTG with negative equity, versus peers that maintain healthier equity bases and debt structures.