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After earlier revenue growth, the top line contracted in the latest two annual periods, while gross profit did not cover operating expenses. Operating cash flow and free cash flow remained negative across the supplied annual history; positive net income in 2024 reflected business-sale gains rather than sustained earnings.
The 2025 results retained the established loss-making, cash-consuming profile but showed further revenue contraction and a return to net loss after 2024’s sale-gain-supported profit. This points to deterioration in scale, not a demonstrated shift to a profitable operating model.
Whether pro forma ARR and organic subscription revenue stabilize after the disclosed divestitures and customer-retention pressures.
| Metric | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|
| 65.2m | 82.9m | 113.8m | 132.6m | 120.3m | ||
| (9.6m) | (16m) | (22.8m) | (24.4m) | (16.9m) | (21.2m) | |
| 55.6m | 67m | 90.9m | 108.3m | 103.3m | 74.2m | |
| (81.9m) | (116m) | (176.7m) | (174.7m) | (135.3m) | (111.3m) | |
| (56.4m) | (76.8m) | (136.4m) | (129.1m) | (103.8m) | (93.7m) | |
| (15.1m) | (24m) | (20.7m) | (18.2m) | (12.8m) | (9.6m) | |
| (10.4m) | (15.2m) | (19.5m) | (27.4m) | (18.6m) | (8.1m) | |
| (26.3m) | (49.1m) | (85.8m) | (66.4m) | (31.9m) | ||
| (23.5m) | (61.4m) | (83m) | (14m) | (30m) | (25.7m) | |
| 31.8m | 64.8m | 95.7m | 29.9m | 23.6m | 16.5m | |
| (2.6m) | (2.5m) | (53.5m) | (37.3m) | 72m | (3.8m) | |
| (252k) | (4.3m) | 734k | 2.5m | (22k) | 105k | |
| (52.6m) | (117.3m) | (221.5m) | (115.2m) | 10.1m | (66.5m) | |
| (851k) | 1.3m | 178k | (151k) | (447k) | 1.3m | |
| (53.5m) | (116.1m) | (221.3m) | (115.4m) | 9.6m | (65.2m) | |
| (81k) | 0 | — | — | — | — | |
| (83.3m) | (306.9m) | (244.8m) | (115.5m) | 9.5m | ||
| (7.70) | (28.39) | (22.35) | (10.54) | 0.84 |
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Stock intrinsic value is the real worth of a company's stock, based on its financial health and performance.
Instead of looking at the stock's current market price, which can change due to people's opinions and emotions, intrinsic value helps us understand if a stock is truly a good deal or not.
By focusing on the company's actual financial strength, like its earnings and debts, we can make better decisions about which stocks to buy and when.
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