Overall Score

Revenue Model

The company generates revenue with a TTM price-to-sales ratio of 3.29 and enterprise value to sales of 3.44.

Gross margin is 41.5%, indicating a workable but not especially strong unit economics profile.

Profitability

TTM operating margin is -80.0% and net profit margin is -69.3%, showing the business is still deeply unprofitable.

TTM EBITDA margin is -55.9% and return on assets is -54.0%, indicating weak operating efficiency.

Cash Generation

TTM operating cash flow and free cash flow remain negative, with free cash flow yield at -25.9%.

Free cash flow to firm is -11.4M and free cash flow to equity is -6.9M, reinforcing ongoing cash burn.

Balance Sheet

Current ratio is 0.90 and quick ratio is 0.85, so near-term liquidity remains tight.

Cash per share is 0.44 versus interest-bearing debt per share of 0.55, suggesting limited balance-sheet flexibility.

Growth Efficiency

Revenue per share is 0.47, but operating cash flow per share is -0.40, showing limited conversion of sales into cash.

Research and development expense is 38.1% of revenue and SG&A is 112.1% of revenue, indicating a high-cost operating model.