Overall Score

Revenue Model

Revenue is still generated, but the model remains hard to scale profitably with TTM revenue per share at 13,341.2 and EV/sales at 5.0.

Gross margin is high at 78.7%, indicating the core service can produce healthy unit economics when demand is present.

Profitability

TTM margins remain deeply negative, with EBIT margin at -98.1%, operating margin at -190.2%, and net margin at -470.1%.

Return metrics are still severely negative at ROA -167.0% and operating ROA -67.6%, showing the business is not converting revenue into durable earnings.

Cash Generation

Operating cash flow and free cash flow remain effectively absent in TTM data, with FCF yield at 0 and operating cash flow ratio at 0.

Cash conversion is structurally poor, with a cash conversion cycle of -3,892.3 days driven by extremely high payables outstanding.

Balance Sheet Strength

Liquidity is very weak, with a current ratio of 0.19 and quick ratio of 0.19.

Leverage and solvency remain stressed, with debt to assets at 1.96 and debt to market cap at 23.6x, while equity is negative on a per-share basis.

Scalability & Efficiency

Asset turnover is modest at 0.36, suggesting the company is not generating enough revenue from its asset base to offset weak margins.

Working capital efficiency is distorted by extreme payables behavior, which supports short-term cash preservation but does not indicate a healthy operating model.