Radient Technologies Inc revenue surged on 8,498% and EBITDA Margin surged on 7,873 pp from -7,992% to -120%
14.09.2020 • About Radient Technologies Inc (
$RTI) • By InTwits
Radient Technologies Inc reported FY2020 financial results today. Here are the key drivers of the company's long term financial model:
- Radient Technologies Inc is a fast growth stock: FY2020 revenue growth was 8,498%, 5 year revenue CAGR was 169% at FY2020 ROIC -53.0%
- The company operates at negative EBITDA Margin: -119.7%
- Radient Technologies Inc spends a lot for Stock Based Compensation (SBC): average SBC/Revenue for FY2016-FY2020 is 0.0%. Average EBITDA Margin for the same period was -270.0%
- Radient Technologies Inc has high CAPEX intensity: 5 year average CAPEX/Revenue was 1,216.8%. At the same time it's a lot of higher than industry average of 1.7%.
- CAPEX is quite volatile: 11 CADm in FY2020, 12 CADm in FY2019, 1 CADm in FY2018, 0 CADm in FY2017, 0 CADm in FY2016
- The company has unprofitable business model: ROIC is -53.0%
Below you can find a comprehensive analysis of the key data driving the company's performance and the stock price.
Revenue and profitability
Radient Technologies Inc's Revenue surged on 8,498%. Revenue growth happened at the same time with EBITDA margin expansion. EBITDA Margin surged on 7,873 pp from -7,992% to -120% in FY2020. During FY2016-FY2020 EBITDA Margin bottomed in FY2019 at -7,992%.
Gross Margin dropped on 36.3 pp from 38.7% to 2.4% in FY2020. SG&A as a % of Revenue dropped on 2,521 pp from 2,570% to 49.1% in FY2020.
Net Income margin jumped on 12,810 pp from -13,013% to -203% in FY2020. During the last 5 years Net Income margin bottomed in FY2019 at -13,013%.
Investments (CAPEX, working capital and M&A)
The company's CAPEX/Revenue was 60.1% in FY2020. The company's CAPEX/Revenue surged on 57.9 pp from 2.2% in FY2017 to 60.1% in FY2020. It's average CAPEX/Revenue for the last three years was 2,026%.
Return on investment
The company operates at negative ROIC (-53.0%) and ROE (-107.1%). ROIC dropped on 10.1 pp from -43.0% to -53.0% in FY2020. ROE dropped on 34.5 pp from -72.6% to -107% in FY2020.
Leverage (Debt)
Company's Net Debt / EBITDA is 0.9x and Debt / EBITDA is . Net Debt / EBITDA didn't change in FY2020. Debt surged on 126% while cash dropped on 99.5%.
Radient Technologies Inc has short term refinancing risk: cash is only 3.7% of short term debt.
Financial and operational results
FY ended 31.03.2020
Radient Technologies Inc ($RTI) key annual financial indicators| mln. CAD | 2016 | 2017 | 2018 | 2019 | 2020 | 2020/2019 |
|---|
P&L
|
|---|
| Revenue | 0.626 | 0.293 | 0.456 | 0.214 | 18.405 | 8,497.8% |
| Gross Profit | 0.286 | 0.115 | 0.195 | 0.083 | 0.448 | 440.9% |
| SG&A | 1.739 | 2.141 | 2.827 | 5.502 | 9.038 | 64.3% |
| EBITDA | -3.593 | -3.897 | -7.358 | -17.108 | -22.032 | |
| Net Income | -4.367 | -4.316 | -14.048 | -27.856 | -37.418 | |
Balance Sheet
|
|---|
| Cash | 0.425 | 8.508 | 21.855 | 31.753 | 0.145 | -99.5% |
| Short Term Debt | 0.727 | 2.065 | 0.266 | 0.168 | 3.965 | 2,260.6% |
| Long Term Debt | 0.617 | 0.506 | 1.278 | 6.483 | 11.044 | 70.4% |
Cash flow
|
|---|
| Capex | 0.017 | 0.006 | 1.253 | 12.296 | 11.067 | -10.0% |
Ratios
|
|---|
| Revenue growth | 376.7% | -53.2% | 55.3% | -53.0% | 8,497.8% | |
| EBITDA growth | | 8.5% | 88.8% | 132.5% | 28.8% | |
|
|---|
| Gross Margin | 45.7% | 39.0% | 42.8% | 38.7% | 2.4% | -36.3% |
| EBITDA Margin | -573.5% | -1,328.0% | -1,614.1% | -7,992.3% | -119.7% | 7,872.6% |
| SG&A, % of revenue | 277.6% | 729.7% | 620.2% | 2,570.5% | 49.1% | -2,521.4% |
| Net Income Margin | -697.0% | -1,470.9% | -3,081.9% | -13,013.0% | -203.3% | 12,809.7% |
| CAPEX, % of revenue | 2.7% | 2.2% | 274.8% | 5,744.2% | 60.1% | -5,684.1% |
|
|---|
| ROIC | | -402.1% | -45.9% | -43.0% | -53.0% | -10.1% |
| ROE | | | -92.8% | -72.6% | -107.1% | -34.5% |
Radient Technologies Inc ($RTI) key quoterly financial indicators
| mln. CAD | FY20Q1 | FY20Q2 | FY20Q3 | FY20Q4 | | YoY change |
|---|
P&L
|
|---|
| Revenue | 0 | 1 | 11 | 6 | | 4.3% | 696.0% | - | - |
| EBITDA | -5 | -6 | -4 | -7 | | - | - | - | - |
| Net Income | -6 | -7 | -5 | -19 | | - | - | - | - |
Balance Sheet
|
|---|
| Cash | 24 | 6 | 1 | 0 | | 33.5% | -85.8% | - | - |
| Short Term Debt | 0 | 1 | 1 | 4 | | 109.5% | 337.4% | - | - |
| Long Term Debt | 7 | 10 | 10 | 11 | | 5.5% | 54.0% | - | - |
Ratios
|
|---|
| Gross Margin | -5.9% | 11.2% | 13.2% | -19.8% | | -43.7% | -27.8% | - | - |
| EBITDA Margin | -8,531.0% | -471.9% | -37.2% | -123.0% | | -3,451.4% | 1,561.1% | - | - |
| Net Income Margin | -10,406.8% | -555.7% | -48.5% | -317.8% | | -4,345.8% | 1,898.0% | - | - |
Peers in Industrial
Below you can find Radient Technologies Inc benchmarking vs. other companies in Industrial industry. It's shown for the period of 5 years for the key financial metrics. Each table has median value for all the companies in the industry together with individual financial data of the top-5 companies in the industry by particular financial metric.
Top companies by Revenue growth, %
| Top | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 |
|---|
| H2O Innovation Inc ($HEO) | - | 63.3% | 20.4% | 18.4% | 13.3% |
| Thermal Energy International Inc ($TMG) | - | 6.4% | 32.0% | 21.1% | 1.6% |
| Cielo Waste Solutions Corp ($CMC) | - | - | - | - | 0.0% |
| |
|---|
| Median (3 companies) | 2.9% | 34.9% | 26.2% | 19.7% | 1.6% |
|---|
| Radient Technologies Inc ($RTI) | - | -53.2% | 55.3% | -53.0% | 8,497.8% |
Top companies by Gross margin, %
| Top | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 |
|---|
| Thermal Energy International Inc ($TMG) | 54.8% | 56.4% | 47.9% | 43.8% | 41.8% |
| H2O Innovation Inc ($HEO) | 30.7% | 23.1% | 22.2% | 23.0% | 26.9% |
| Cielo Waste Solutions Corp ($CMC) | - | - | - | 0.0% | 0.0% |
| |
|---|
| Median (3 companies) | 22.9% | 39.8% | 35.0% | 23.0% | 26.9% |
|---|
| Radient Technologies Inc ($RTI) | 45.7% | 39.0% | 42.8% | 38.7% | 2.4% |
Top companies by EBITDA margin, %
| Top | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 |
|---|
| Clean Seed Capital Group Ltd ($CSX) | -103.4% | - | - | - | 70.0% |
| H2O Innovation Inc ($HEO) | 6.5% | 1.4% | 3.4% | 5.5% | 3.4% |
| Thermal Energy International Inc ($TMG) | 3.0% | 4.7% | 3.1% | 0.3% | -6.5% |
| Cielo Waste Solutions Corp ($CMC) | - | - | - | -75,804.5% | -142,513.9% |
| |
|---|
| Median (4 companies) | 10.1% | 3.0% | 3.2% | 0.3% | -1.6% |
|---|
| Radient Technologies Inc ($RTI) | -573.5% | -1,328.0% | -1,614.1% | -7,992.3% | -119.7% |
Top companies by CAPEX/Revenue, %
| Top | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 |
|---|
| Cielo Waste Solutions Corp ($CMC) | - | - | - | 212,333.1% | 169,789.6% |
| Thermal Energy International Inc ($TMG) | 0.5% | 0.3% | 0.3% | 0.3% | 1.3% |
| H2O Innovation Inc ($HEO) | 2.2% | 1.6% | 1.7% | 1.8% | 0.7% |
| Clean Seed Capital Group Ltd ($CSX) | 12.1% | - | - | - | 0.5% |
| |
|---|
| Median (4 companies) | 3.9% | 1.0% | 1.0% | 1.8% | 1.0% |
|---|
| Radient Technologies Inc ($RTI) | 2.7% | 2.2% | 274.8% | 5,744.2% | 60.1% |
Top companies by ROIC, %
| Top 5 | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 |
|---|
| Clean Seed Capital Group Ltd ($CSX) | -17.2% | -24.3% | -78.1% | -50.5% | 28.0% |
| H2O Innovation Inc ($HEO) | 5.3% | -7.6% | -1.0% | 1.8% | -3.2% |
| Thermal Energy International Inc ($TMG) | 11.2% | 17.0% | 12.7% | -4.9% | -29.8% |
| Cielo Waste Solutions Corp ($CMC) | - | -34.7% | -73.9% | -41.6% | -43.3% |
| Organic Potash Corp ($OPC) | - | - | - | - | - |
| |
|---|
| Median (5 companies) | 8.5% | -15.9% | -37.4% | -23.2% | -16.5% |
|---|
| Radient Technologies Inc ($RTI) | - | -402.1% | -45.9% | -43.0% | -53.0% |
Top companies by Net Debt / EBITDA
| Top | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 |
|---|
| H2O Innovation Inc ($HEO) | 1.9x | 11.2x | 5.2x | 1.5x | 4.3x |
| Clean Seed Capital Group Ltd ($CSX) | - | - | - | - | -0.1x |
| |
|---|
| Median (2 companies) | 1.8x | 3.2x | 0.3x | -8.9x | 2.1x |
|---|
