Thermogenesis Holdings Inc Financials

THMO

Trailing 12 months to March 31, 2024

Revenue $9.6M -7.5% YoY

Net Income -$15.7M -5.2% YoY

EPS (Diluted) Not reported for the trailing 12 months

Free Cash Flow -$4.6M +5.2% YoY

Source SEC Filings (10-K/10-Q) Latest period Q1 FY2024, ended Mar 31, 2024 Reported May 17, 2024 Currency USD FYE December

Thermogenesis Holdings Inc (THMO) reported $9.6M in revenue over the twelve months to Mar 31, 2024, down 7.5% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 14 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI THMO FY2023 2026-08-30

External financing is carrying a shrinking, margin-compressed operation whose 2023 liabilities exceeded assets and whose cash conversion remains negative.

Gross margin fell from 37.6% in FY2021 to 20.4% in FY2023 while operating losses remained deeply negative; this points to a cost base that did not reset as revenue weakened. In FY2023, interest expense reached $10.0M, nearly matching the operating loss, so financing structure materially amplified operating weakness in reported earnings.

The balance sheet moved into negative equity by FY2023, and the current ratio fell from 0.9x to 0.4x; short-term obligations now exceed current assets, making liquidity tighter than in FY2022. That combination describes a business financed with less balance-sheet cushion, not simply a company reporting annual losses.

FY2023 operating cash flow was -$3.7M, yet free cash flow was -$5.5M; the gap indicates reinvestment consumed cash even as operating outflow narrowed. The reported cash-and-investment balance equaled 6.4 months of the latest annual operating outflow, while financing cash flow was $3.3M, indicating outside funding supported liquidity rather than cash self-funding.

Financial Health Signals

Financial health score not available

Thermogenesis Holdings Inc does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.

Piotroski F-Score Partial

2/8

Thermogenesis Holdings Inc passes 2 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 1 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), 1 of 2 efficiency signals pass.

Earnings Quality No Cash Backing

N/A

Thermogenesis Holdings Inc reported a net loss of $18.9M while operations used $3.7M of cash. With neither figure positive, the ratio between the two carries no quality signal.

Interest Coverage At Risk

N/A

Thermogenesis Holdings Inc reported an operating loss of $8.6M against $10.0M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.

Key Financial Metrics

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Earnings & Revenue

Revenue

$9.4M

YoY-9.9%

5Y CAGR-0.5%

10Y CAGR-6.2%

Thermogenesis Holdings Inc generated $9.4M in revenue in fiscal year 2023. This represents a decrease of 9.9% from the prior year.

EBITDA

-$7.5M

YoY-41.7%

Thermogenesis Holdings Inc's EBITDA was -$7.5M in fiscal year 2023, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 41.7% from the prior year.

Net Income

-$18.9M

YoY-60.2%

Thermogenesis Holdings Inc reported -$18.9M in net income in fiscal year 2023. This represents a decrease of 60.2% from the prior year.

EPS (Diluted)

Not reported for fiscal year 2023.

Cash & Balance Sheet

Free Cash Flow

-$5.5M

YoY+29.0%

Thermogenesis Holdings Inc recorded an outflow of $5.5M in free cash flow in fiscal year 2023, representing a cash shortfall after capex. This represents an increase of 29.0% from the prior year.

Cash & Debt

$2.0M

YoY-52.1%

5Y CAGR-3.6%

10Y CAGR-11.6%

Thermogenesis Holdings Inc held $2.0M in cash as of fiscal year 2023; long-term debt is not reported for that period.

Shares Outstanding

Thermogenesis Holdings Inc had 8M shares outstanding in fiscal year 2023.

Dividends Per Share

Not reported for fiscal year 2023.

Margins & Returns

Gross Margin

20.4%

YoY-5.4pp

5Y CAGR-2.2pp

10Y CAGR-15.0pp

Thermogenesis Holdings Inc's gross margin was 20.4% in fiscal year 2023, indicating the percentage of revenue retained after direct costs. This is down 5.4 percentage points from the prior year.

Operating Margin

-91.2%

YoY-32.1pp

10Y CAGR-74.1pp

Thermogenesis Holdings Inc's operating margin was -91.2% in fiscal year 2023, reflecting core business profitability. This is down 32.1 percentage points from the prior year.

Net Margin

Not shown for fiscal year 2023: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.

Return on Equity

Not reported for fiscal year 2023.

Capital Allocation

R&D Spending

$1.3M

YoY-22.6%

5Y CAGR-15.7%

10Y CAGR-8.1%

Thermogenesis Holdings Inc invested $1.3M in research and development in fiscal year 2023. This represents a decrease of 22.6% from the prior year.

Capital Expenditures

$1.7M

YoY+333.3%

5Y CAGR+7.0%

10Y CAGR+16.1%

Thermogenesis Holdings Inc invested $1.7M in capex in fiscal year 2023, funding long-term assets and infrastructure. This represents an increase of 333.3% from the prior year.

Share Buybacks

Not reported for fiscal year 2023.

THMO Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

THMO quarterly income statement

Metric	TTM	FY23	FY22	FY21	FY20	FY19	FY18	FY17	FY16	FY15	FY14	FY13	FY12	FY11	FY10
Revenue	$9.6M	$9.4M-9.9%	$10.5M+12.8%	$9.3M-4.6%	$9.7M-25.3%	$13.0M+34.9%	$9.7M-33.4%	$14.5M+21.8%	$11.9M-25.6%	$16.0M+0.3%	$16.0M-11.0%	$18.0M-5.6%	$19.0M-18.7%	$23.4M+1.4%	$23.1M
Cost of Revenue	$7.6M	$7.5M-3.3%	$7.8M+34.0%	$5.8M-31.6%	$8.5M+15.4%	$7.4M-1.7%	$7.5M-13.9%	$8.7M-5.4%	$9.2M-18.7%	$11.3M+11.8%	$10.1M-12.9%	$11.6M-8.6%	$12.7M-12.9%	$14.6M-6.9%	$15.6M
Gross Profit	$2.0M	$1.9M-28.7%	$2.7M-22.4%	$3.5M+177.4%	$1.3M-77.9%	$5.7M+159.7%	$2.2M-62.4%	$5.8M+112.8%	$2.7M-42.2%	$4.7M-19.3%	$5.9M-7.5%	$6.4M+0.5%	$6.3M-28.3%	$8.8M+18.7%	$7.4M
R&D Expenses	$1.2M	$1.3M-22.6%	$1.7M-24.9%	$2.2M-10.8%	$2.5M+3.4%	$2.4M-20.5%	$3.0M+20.6%	$2.5M-22.7%	$3.2M-45.6%	$5.9M+71.3%	$3.5M+15.9%	$3.0M-19.8%	$3.7M+24.2%	$3.0M-40.1%	$5.0M
SG&A Expenses	$6.9M	$7.2M-0.3%	$7.2M-14.9%	$8.5M+10.9%	$7.7M+20.4%	$6.4M-23.0%	$8.3M-23.8%	$10.9M+32.1%	$8.2M-23.0%	$10.7M+26.0%	$8.5M+50.4%	$5.6M+8.1%	$5.2M-4.6%	$5.5M	N/A
Operating Income	-$8.1M	-$8.6M-39.0%	-$6.2M+14.4%	-$7.2M+18.7%	-$8.9M-87.9%	-$4.7M+89.1%	-$43.5M-364.8%	-$9.4M+13.8%	-$10.9M+26.9%	-$14.9M-64.4%	-$9.0M-194.9%	-$3.1M+43.0%	-$5.4M-89.7%	-$2.8M-154.0%	$5.3M
Interest Expense	$7.6M	$10.0M+78.6%	$5.6M-8.0%	$6.1M-22.8%	$7.9M+76.6%	$4.5M+66.1%	$2.7M-86.9%	$20.5M+1000.8%	$1.9M+13214.3%	$14K	N/A	N/A	N/A	N/A	N/A
Income Tax	N/A	N/A	$0	$0	N/A	$0+100.0%	-$4.7M-602.8%	-$673K	N/A	N/A	-$403K	$0	$0	N/A	N/A
Net Income	-$15.7M	-$18.9M-60.2%	-$11.8M+0.6%	-$11.9M+29.3%	-$16.8M-66.5%	-$10.1M+75.3%	-$40.9M-40.7%	-$29.1M-56.5%	-$18.6M-25.2%	-$14.9M-72.1%	-$8.6M-179.7%	-$3.1M+38.1%	-$5.0M-94.2%	-$2.6M+50.6%	-$5.2M

Metric	Q1'24	Q4'23	Q3'23	Q2'23	Q1'23	Q4'22	Q3'22	Q2'22
Revenue	$2.7M+13.8%	$2.4M+9.7%	$2.2M-3.5%	$2.3M-11.6%	$2.6M-3.9%	$2.7M+26.5%	$2.1M-30.2%	$3.0M
Cost of Revenue	$1.5M-37.2%	$2.4M+35.9%	$1.8M-0.3%	$1.8M+23.0%	$1.5M-35.7%	$2.3M+36.0%	$1.7M-19.7%	$2.1M
Gross Profit	$1.2M+3263.2%	-$38K-109.6%	$395K-15.8%	$469K-57.6%	$1.1M+180.5%	$394K-9.8%	$437K-53.5%	$939K
R&D Expenses	$211K-35.9%	$329K+23.7%	$266K-30.5%	$383K+25.2%	$306K-10.3%	$341K-27.4%	$470K+19.9%	$392K
SG&A Expenses	$1.5M-17.4%	$1.9M+11.2%	$1.7M-7.2%	$1.8M-1.5%	$1.8M+16.7%	$1.6M-20.3%	$2.0M-0.4%	$2.0M
Operating Income	-$557K+87.0%	-$4.3M-174.8%	-$1.6M+10.0%	-$1.7M-65.6%	-$1.0M+31.6%	-$1.5M+24.2%	-$2.0M-39.7%	-$1.4M
Interest Expense	$1.5M-56.6%	$3.3M+57.8%	$2.1M+217.1%	$668K-82.9%	$3.9M+91.0%	$2.0M+46.9%	$1.4M+2.4%	$1.4M
Net Income	-$2.0M+73.7%	-$7.6M-103.2%	-$3.7M-56.0%	-$2.4M+53.7%	-$5.2M-45.1%	-$3.6M-5.0%	-$3.4M-21.5%	-$2.8M

Not reported in any period shown, so not listed: Income Tax, EPS (Diluted).

THMO Balance Sheet

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

THMO quarterly balance sheet

Metric	FY23	FY22	FY21	FY20	FY19	FY18	FY17	FY16	FY15	FY14	FY13	FY12	FY11	FY10
Total Assets	$11.2M-42.1%	$19.4M-6.1%	$20.7M-1.0%	$20.9M+37.1%	$15.2M+4.1%	$14.6M-68.9%	$46.9M-5.9%	$49.9M-1.7%	$50.8M-19.3%	$62.9M+239.4%	$18.5M-12.1%	$21.1M-13.6%	$24.4M	N/A
Current Assets	$5.2M-52.4%	$10.9M-27.3%	$15.0M-2.2%	$15.3M+60.7%	$9.5M+10.4%	$8.6M-22.8%	$11.2M-13.0%	$12.8M-3.1%	$13.3M-47.7%	$25.3M+55.6%	$16.3M-14.6%	$19.1M-17.3%	$23.0M	N/A
Cash & Equivalents	$2.0M-52.1%	$4.2M-42.6%	$7.3M+1.7%	$7.2M+126.8%	$3.2M+31.5%	$2.4M-33.8%	$3.6M-37.9%	$5.8M+73.8%	$3.4M-77.3%	$14.8M+115.2%	$6.9M-12.6%	$7.9M-36.0%	$12.3M+14.7%	$10.7M
Inventory	$1.4M-57.8%	$3.3M-37.9%	$5.4M-8.6%	$5.9M+68.7%	$3.5M-22.5%	$4.5M+24.2%	$3.6M+0.7%	$3.6M-21.9%	$4.6M-18.0%	$5.6M+31.6%	$4.3M-32.3%	$6.3M-0.9%	$6.3M	N/A
Accounts Receivable	$949K-49.1%	$1.9M+154.4%	$733K-47.0%	$1.4M+8.1%	$1.3M-15.3%	$1.5M-55.5%	$3.4M+7.1%	$3.2M-38.3%	$5.1M+9.4%	$4.7M-4.2%	$4.9M+7.5%	$4.6M+15.0%	$4.0M	N/A
Goodwill	N/A	$781K0.0%	$781K0.0%	$781K0.0%	$781K0.0%	$781K-94.1%	$13.2M0.0%	$13.2M0.0%	$13.2M-0.4%	$13.3M	$0	N/A	N/A	N/A
Total Liabilities	$14.8M-7.8%	$16.1M-6.9%	$17.3M+15.1%	$15.0M+4.8%	$14.3M+81.4%	$7.9M-51.0%	$16.1M-8.7%	$17.6M+11.2%	$15.9M+11.7%	$14.2M+172.3%	$5.2M+0.6%	$5.2M+20.3%	$4.3M	N/A
Current Liabilities	$11.8M+2.2%	$11.5M+81.3%	$6.3M+3.3%	$6.1M-8.1%	$6.7M+5.0%	$6.4M+40.8%	$4.5M-18.4%	$5.5M-30.3%	$7.9M+24.5%	$6.4M+23.9%	$5.1M+2.3%	$5.0M+23.8%	$4.1M	N/A
Total Equity	-$1.7M-138.8%	$4.3M+12.2%	$3.8M-34.0%	$5.8M+1402.6%	$386K-95.4%	$8.4M-72.6%	$30.8M-4.4%	$32.3M-7.5%	$34.9M-28.3%	$48.7M+265.7%	$13.3M-16.2%	$15.9M-20.9%	$20.1M+13.0%	$17.8M
Retained Earnings	-$284.2M-6.8%	-$266.2M-0.6%	-$264.7M-4.5%	-$253.3M-6.9%	-$236.9M-4.2%	-$227.4M-22.7%	-$185.4M-18.6%	-$156.3M-13.5%	-$137.7M-12.1%	-$122.8M-7.6%	-$114.2M-2.8%	-$111.1M-4.7%	-$106.1M	N/A

Metric	Q1'24	Q4'23	Q3'23	Q2'23	Q1'23	Q4'22	Q3'22	Q2'22
Total Assets	$10.1M-10.2%	$11.2M-29.5%	$15.9M-9.6%	$17.6M-10.9%	$19.8M+1.9%	$19.4M-3.5%	$20.1M-5.8%	$21.3M
Current Assets	$4.4M-16.0%	$5.2M-25.2%	$6.9M-18.1%	$8.5M-22.9%	$11.0M+0.8%	$10.9M-5.2%	$11.5M-8.0%	$12.5M
Cash & Equivalents	$1.2M-41.2%	$2.0M-50.2%	$4.0M-9.7%	$4.5M-24.0%	$5.9M+40.1%	$4.2M+7.0%	$3.9M-2.4%	$4.0M
Inventory	$1.2M-11.4%	$1.4M-22.8%	$1.8M-31.4%	$2.7M-22.5%	$3.4M+2.8%	$3.3M-32.1%	$4.9M-10.6%	$5.5M
Accounts Receivable	$1.1M+21.1%	$949K+157.9%	$368K-52.5%	$774K-19.0%	$955K-48.8%	$1.9M-9.3%	$2.1M-11.0%	$2.3M
Goodwill	N/A	N/A	$781K0.0%	$781K0.0%	$781K0.0%	$781K0.0%	$781K0.0%	$781K
Total Liabilities	$11.2M-24.6%	$14.8M+17.0%	$12.7M-15.5%	$15.0M+1.6%	$14.7M-8.2%	$16.1M+1.5%	$15.8M+0.1%	$15.8M
Current Liabilities	$8.3M-29.4%	$11.8M+32.3%	$8.9M-19.1%	$11.0M+4.9%	$10.5M-9.0%	$11.5M+4.9%	$11.0M+2.6%	$10.7M
Total Equity	$975K+158.5%	-$1.7M-136.3%	$4.6M+19.8%	$3.8M-37.0%	$6.1M+41.6%	$4.3M-15.7%	$5.1M-17.5%	$6.2M
Retained Earnings	-$286.0M-0.7%	-$284.2M-2.5%	-$277.2M-1.3%	-$273.5M-0.8%	-$271.3M-1.9%	-$266.2M-1.3%	-$262.8M-1.2%	-$259.5M

Not reported in any period shown, so not listed: Long-Term Debt.

THMO Cash Flow Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

THMO quarterly cash flow statement

Metric	TTM	FY23	FY22	FY21	FY20	FY19	FY18	FY17	FY16	FY15	FY14	FY13	FY12	FY11	FY10
Operating Cash Flow	-$3.6M	-$3.7M+48.9%	-$7.3M-10.0%	-$6.6M+54.0%	-$14.4M-341.5%	-$3.3M+53.3%	-$7.0M+3.2%	-$7.2M+25.0%	-$9.6M+9.6%	-$10.6M-35.9%	-$7.8M-154.3%	-$3.1M+20.7%	-$3.9M-85.7%	-$2.1M+52.8%	-$4.4M
Capital Expenditures	$982K	$1.7M+333.3%	$400K+330.1%	$93K+304.3%	$23K-87.4%	$182K-85.3%	$1.2M+230.1%	$375K-47.2%	$710K+21.0%	$587K+46.0%	$402K+2.8%	$391K-28.3%	$545K+104.9%	$266K-43.4%	$470K
Free Cash Flow	-$4.6M	-$5.5M+29.0%	-$7.7M-14.4%	-$6.7M+53.4%	-$14.4M-318.8%	-$3.4M+58.1%	-$8.2M-8.3%	-$7.6M+26.6%	-$10.3M+8.0%	-$11.2M-36.4%	-$8.2M-137.2%	-$3.5M+21.6%	-$4.4M-87.9%	-$2.4M+51.9%	-$4.9M
Investing Cash Flow	-$982K	-$1.7M-333.3%	-$400K-330.1%	-$93K-304.3%	-$23K+87.4%	-$182K+85.3%	-$1.2M-230.1%	-$375K+47.2%	-$710K-21.0%	-$587K-1051.0%	-$51K-102.4%	$2.1M+493.4%	-$545K-118.9%	-$249K-102.9%	$8.5M
Financing Cash Flow	-$82K	$3.3M-28.5%	$4.6M-32.9%	$6.8M-60.8%	$17.4M+314.9%	$4.2M-41.0%	$7.1M+32.3%	$5.4M-58.1%	$12.8M+6885.2%	-$189K-101.2%	$15.8M+27831.6%	-$57K	$0-100.0%	$3.9M+98075.0%	-$4K
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$134K+1575.0%	$8K-93.8%	$129K+89.7%	$68K+19.3%	$57K	$0	$0	N/A

Metric	Q1'24	Q4'23	Q3'23	Q2'23	Q1'23	Q4'22	Q3'22	Q2'22
Operating Cash Flow	-$505K+75.3%	-$2.0M-713.9%	-$251K+69.1%	-$812K-32.0%	-$615K+48.0%	-$1.2M-18.2%	-$1.0M-6.2%	-$942K
Capital Expenditures	$20K-89.6%	$192K+6.7%	$180K-69.5%	$590K-23.5%	$771K+738.0%	$92K+3.4%	$89K-42.2%	$154K
Free Cash Flow	-$525K+76.5%	-$2.2M-418.6%	-$431K+69.3%	-$1.4M-1.2%	-$1.4M-8.8%	-$1.3M-17.0%	-$1.1M+0.6%	-$1.1M
Investing Cash Flow	-$20K+89.6%	-$192K-6.7%	-$180K+69.5%	-$590K+23.5%	-$771K-738.0%	-$92K-3.4%	-$89K+42.2%	-$154K
Financing Cash Flow	-$299K-237.8%	$217K	$0	$0-100.0%	$3.1M+97.6%	$1.5M+56.0%	$993K-31.5%	$1.4M
Share Buybacks	$398K	N/A	N/A	N/A	N/A	N/A	N/A	N/A

Not reported in any period shown, so not listed: Dividends Paid.

THMO Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples.

THMO quarterly financial ratios

Metric	FY23	FY22	FY21	FY20	FY19	FY18	FY17	FY16	FY15	FY14	FY13	FY12	FY11	FY10
Gross Margin	20.4%-5.4pp	25.9%-11.7pp	37.6%+24.7pp	12.9%-30.7pp	43.7%+21.0pp	22.7%-17.5pp	40.2%+17.2pp	23.0%-6.6pp	29.6%-7.2pp	36.8%+1.4pp	35.4%+2.1pp	33.3%-4.5pp	37.8%+5.5pp	32.3%
Operating Margin	-91.2%-32.1pp	-59.1%+18.7pp	-77.8%+13.5pp	-91.3%-55.0pp	-36.3%	-450.2%	-64.5%+26.6pp	-91.1%+1.5pp	-92.6%-36.1pp	-56.5%-39.5pp	-17.1%+11.2pp	-28.3%-16.2pp	-12.1%-34.9pp	22.8%
Net Margin	-200.3%	-112.7%	-127.8%	-172.5%	-77.4%	-423.3%	-200.3%	-155.8%	-92.6%-38.6pp	-54.0%-36.8pp	-17.2%+9.0pp	-26.2%-15.2pp	-11.0%+11.5pp	-22.5%
Return on Equity	N/A	-274.9%+35.4pp	-310.3%-20.5pp	-289.8%+2326.5pp	-2616.3%-2131.4pp	-485.0%-390.6pp	-94.3%-36.8pp	-57.6%-15.0pp	-42.5%-24.8pp	-17.7%+5.4pp	-23.2%+8.2pp	-31.4%-18.6pp	-12.8%+16.4pp	-29.2%
Return on Assets	-168.4%-107.5pp	-60.9%-3.4pp	-57.5%+23.1pp	-80.6%-14.2pp	-66.4%+213.8pp	-280.2%-218.2pp	-62.0%-24.7pp	-37.3%-8.0pp	-29.3%-15.5pp	-13.7%+2.9pp	-16.7%+7.0pp	-23.6%-13.1pp	-10.5%	N/A
Current Ratio	0.44-0.5x	0.95-1.4x	2.36-0.1x	2.49+1.1x	1.42+0.1x	1.36-1.1x	2.47+0.2x	2.32+0.6x	1.67-2.3x	3.97+0.8x	3.16-0.6x	3.79-1.9x	5.67	N/A
Debt-to-Equity	N/A	3.74-0.8x	4.51+1.9x	2.58-34.5x	37.04+36.1x	0.93+0.4x	0.520.0x	0.55+0.1x	0.45+0.2x	0.29-0.1x	0.39+0.1x	0.33+0.1x	0.21	N/A
FCF Margin	-57.7%+15.5pp	-73.3%-1.1pp	-72.2%	-148.0%	-26.4%+58.6pp	-85.0%-32.8pp	-52.3%+34.4pp	-86.6%-16.6pp	-70.0%-18.5pp	-51.5%-32.2pp	-19.3%+4.0pp	-23.3%-13.2pp	-10.1%+11.1pp	-21.2%

Metric	Q1'24	Q4'23	Q3'23	Q2'23	Q1'23	Q4'22	Q3'22	Q2'22
Gross Margin	43.9%+45.5pp	-1.6%-19.6pp	18.0%-2.6pp	20.6%-22.3pp	43.0%+28.2pp	14.7%-5.9pp	20.7%-10.3pp	31.0%
Operating Margin	-20.3%	-177.8%	-71.0%+5.1pp	-76.1%-35.5pp	-40.6%+16.4pp	-57.1%+38.2pp	-95.3%-47.7pp	-47.6%
Net Margin	-73.1%	-315.8%	-170.5%	-105.5%	-201.5%	-133.5%	-160.9%	-92.5%
Return on Equity	-205.2%	N/A	-81.4%-18.8pp	-62.5%+22.7pp	-85.2%-2.1pp	-83.1%-16.4pp	-66.7%-21.4pp	-45.3%
Return on Assets	-19.8%+47.8pp	-67.7%-44.2pp	-23.5%-9.9pp	-13.6%+12.6pp	-26.2%-7.8pp	-18.4%-1.5pp	-16.9%-3.8pp	-13.1%
Current Ratio	0.52+0.1x	0.44-0.3x	0.780.0x	0.77-0.3x	1.05+0.1x	0.95-0.1x	1.05-0.1x	1.17
Debt-to-Equity	11.46	N/A	2.75-1.2x	3.91+1.5x	2.42-1.3x	3.74+0.6x	3.10+0.5x	2.56
FCF Margin	-19.2%+73.7pp	-92.9%-73.3pp	-19.6%+42.0pp	-61.7%-7.8pp	-53.9%-6.3pp	-47.6%+3.9pp	-51.5%-15.3pp	-36.2%

Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Operating Margin, Net Margin.

Note: Shareholder equity is negative (-$1.7M), which causes debt-to-equity and return on equity ratios to appear negative or not meaningful. This can occur from accumulated losses or large share buyback programs.

Note: The current ratio is below 1.0 (0.44), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.

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Where Thermogenesis Holdings Inc Ranks

Frequently Asked Questions

What is Thermogenesis Holdings Inc's annual revenue?

Thermogenesis Holdings Inc (THMO) reported $9.4M in total revenue for fiscal year 2023. This represents a -9.9% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Thermogenesis Holdings Inc's revenue growing?

Thermogenesis Holdings Inc (THMO) revenue declined by 9.9% year-over-year, from $10.5M to $9.4M in fiscal year 2023.

Is Thermogenesis Holdings Inc profitable?

No, Thermogenesis Holdings Inc (THMO) reported a net income of -$18.9M in fiscal year 2023.

What is Thermogenesis Holdings Inc's EBITDA?

Thermogenesis Holdings Inc (THMO) had EBITDA of -$7.5M in fiscal year 2023, measuring earnings before interest, taxes, depreciation, and amortization.

What is Thermogenesis Holdings Inc's gross margin?

Thermogenesis Holdings Inc (THMO) had a gross margin of 20.4% in fiscal year 2023, indicating the percentage of revenue retained after direct costs of goods sold.

What is Thermogenesis Holdings Inc's operating margin?

Thermogenesis Holdings Inc (THMO) had an operating margin of -91.2% in fiscal year 2023, reflecting the profitability of core business operations before interest and taxes.

What is Thermogenesis Holdings Inc's free cash flow?

Thermogenesis Holdings Inc (THMO) recorded an outflow of $5.5M in free cash flow during fiscal year 2023. This represents a 29.0% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Thermogenesis Holdings Inc's operating cash flow?

Thermogenesis Holdings Inc (THMO) recorded an outflow of $3.7M in operating cash flow during fiscal year 2023, representing cash used by core business activities.

What are Thermogenesis Holdings Inc's total assets?

Thermogenesis Holdings Inc (THMO) had $11.2M in total assets as of fiscal year 2023, including both current and long-term assets.

What are Thermogenesis Holdings Inc's capital expenditures?

Thermogenesis Holdings Inc (THMO) invested $1.7M in capital expenditures during fiscal year 2023, funding long-term assets and infrastructure.

How much does Thermogenesis Holdings Inc spend on research and development?

Thermogenesis Holdings Inc (THMO) invested $1.3M in research and development during fiscal year 2023.

How many shares does Thermogenesis Holdings Inc have outstanding?

Thermogenesis Holdings Inc (THMO) had 8M shares outstanding as of fiscal year 2023.

What is Thermogenesis Holdings Inc's current ratio?

Thermogenesis Holdings Inc (THMO) had a current ratio of 0.44 as of fiscal year 2023, which is below 1.0, which may suggest potential liquidity concerns.

What is Thermogenesis Holdings Inc's return on assets (ROA)?

Thermogenesis Holdings Inc (THMO) had a return on assets of -168.4% for fiscal year 2023, measuring how efficiently the company uses its assets to generate profit.

How does Thermogenesis Holdings Inc's liquidity compare with its operating cash outflow?

At the end of fiscal year 2023, Thermogenesis Holdings Inc (THMO) held $2.0M in cash, cash equivalents and investments, and reported an operating cash outflow of $3.7M over that year. Dividing the one by the other, the reported balance equals about 6 months of the outflow reported that year. This is arithmetic over figures already filed, not a projection: it assumes nothing about future spending, financing or operations.

Why is Thermogenesis Holdings Inc's debt-to-equity ratio negative or not reported?

Thermogenesis Holdings Inc (THMO) has negative shareholder equity of -$1.7M as of fiscal year 2023, so no debt-to-equity ratio is reported: dividing debt by equity that is not positive produces a number that cannot be read as leverage. This can occur when accumulated losses exceed invested capital, or after large share buyback programs. Other solvency metrics like the current ratio or interest coverage may be more informative.

What is Thermogenesis Holdings Inc's Piotroski F-Score?

Thermogenesis Holdings Inc (THMO) has a Piotroski F-Score of 2 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Thermogenesis Holdings Inc's earnings high quality?

Thermogenesis Holdings Inc (THMO) reported a net loss of $18.9M while operations used $3.7M of cash. With neither figure positive, the ratio between the two carries no quality signal. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Can Thermogenesis Holdings Inc cover its interest payments?

Thermogenesis Holdings Inc (THMO) reported an operating loss of $8.6M against $10.0M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.