Revenue and profitability:
- Q4 2024 revenue: $0.175 million; gross profit reported at $0.919 million, resulting in a gross margin of 5.25% (as reported). Note: The gross profit figure appears inconsistent with revenue at face value in the input data; the provided margin is used for analysis. EBITDA was negative at approximately $(2.905) million, and operating income was $(3.409) million, yielding an operating margin of about (19.48%).
- Net income: $(7.778) million; net margin (44.45%). Earnings per share (EPS, basic/diluted): $(0.90).
- YoY and QoQ metric comments: Revenue YoY and QoQ are not provided (N/A in the data). Gross profit margin shows a significant swing in the reported quarter; operating and net margins remained negative, underscoring ongoing fixed-cost absorption with minimal revenue.
Liquidity and capital resources:
- Cash and cash equivalents: $14.21 million at period end; total cash and short-term investments reported as $14.21 million.
- Net cash position: Given total debt of $4.46 million and cash balance, the company reports a net debt of approximately $(9.75) million, indicating a net cash position as of the quarter-end (negative net debt).
- Working capital and liquidity metrics: Current ratio 4.08; quick ratio 4.08; cash ratio 3.70, signaling strong near-term liquidity cushion relative to current liabilities.
Cash flows:
- Net cash provided by (used in) operating activities: $(4.854) million (negative burn).
- Net cash used in investing activities: $(0.144) million (including capex of $(0.21) million).
- Net cash provided by financing activities: $12.992 million (financing inflows).
- Free cash flow: $(6.064) million (negative).
- Net change in cash: $7.994 million increase; cash at end of period: $14.425 million.
Balance sheet health:
- Total assets: $28.734 million; total liabilities: $7.410 million; total stockholders’ equity: $21.324 million.
- Debt profile: Short-term debt $0.953 million; long-term debt $3.507 million; total debt $4.46 million; cash and equivalents provide a net cash position.
- Intangibles and goodwills: Intangible assets $5.368 million; no goodwill reported.
- Leverage and liquidity indicators: Debt ratio 0.155; debt-to-equity 0.209; price-to-book around 0.813; enterprise value multiple negative due to net cash position.
Valuation and market context:
- Price-to-sales ratio ~99.05 and price-to-book ~0.813, illustrating a cash-rich balance sheet with a sparse revenue base, a common characteristic of early-stage biotechnology service companies.
- Industry benchmarks for biotech service players typically exhibit negative earnings with substantial R&D intensity; valuation is driven by pipeline potential, collaboration milestones, and eventual revenue generation rather than current profitability.