We're Not Very Worried About Arcturus Therapeutics Holdings' (NASDAQ:ARCT) Cash Burn Rate
We're Not Very Worried About Arcturus Therapeutics Holdings' (NASDAQ:ARCT) Cash Burn Rate
There's no doubt that money can be made by owning shares of unprofitable businesses. For example, although Amazon.com made losses for many years after listing, if you had bought and held the shares since 1999, you would have made a fortune. But while the successes are well known, investors should not ignore the very many unprofitable companies that simply burn through all their cash and collapse.
毫無疑問,持有虧損企業的股份也可以賺錢。例如,雖然Amazon.com在上市後多年虧損,但如果你自1999年以來購買並持有其股份,你就會賺了大錢。但是,雖然成功案例已廣爲人知,投資者不應忽視那些只是在喀喀耗盡所有現金然後崩潰的許多無利可圖的公司。
Given this risk, we thought we'd take a look at whether Arcturus Therapeutics Holdings (NASDAQ:ARCT) shareholders should be worried about its cash burn. In this report, we will consider the company's annual negative free cash flow, henceforth referring to it as the 'cash burn'. Let's start with an examination of the business' cash, relative to its cash burn.
考慮到這種風險,我們決定看看Arcturus Therapeutics Holdings (NASDAQ:ARCT) 的股東是否應該擔心其現金燃燒。 在這份報告中,我們將考慮該公司年度負面的自由現金流,簡稱爲「現金燃燒」。讓我們開始檢查業務的現金存量,相對於其現金燃燒。
When Might Arcturus Therapeutics Holdings Run Out Of Money?
當Arcturus Therapeutics Holdings將會用盡資金?
A company's cash runway is calculated by dividing its cash hoard by its cash burn. When Arcturus Therapeutics Holdings last reported its September 2024 balance sheet in November 2024, it had zero debt and cash worth US$237m. Looking at the last year, the company burnt through US$62m. So it had a cash runway of about 3.8 years from September 2024. A runway of this length affords the company the time and space it needs to develop the business. You can see how its cash balance has changed over time in the image below.
公司的資金耗盡時間是通過將其現金儲備除以其現金燃燒來計算的。當Arcturus Therapeutics Holdings於2024年9月在2024年11月報告其資產負債表時,它沒有債務,現金價值爲23700萬美元。回顧過去一年,該公司耗掉了6200萬美元。因此,從2024年9月開始,它有大約3.8年的資金耗盡時間。這樣長度的資金耗盡時間爲公司提供了發展業務所需的時間和空間。您可以在下面的圖片中看到其現金餘額是如何隨時間變化的。
Is Arcturus Therapeutics Holdings' Revenue Growing?
Arcturus Therapeutics Holdings 的營業收入是否正在增長?
Given that Arcturus Therapeutics Holdings actually had positive free cash flow last year, before burning cash this year, we'll focus on its operating revenue to get a measure of the business trajectory. Regrettably, the company's operating revenue moved in the wrong direction over the last twelve months, declining by 46%. Clearly, however, the crucial factor is whether the company will grow its business going forward. So you might want to take a peek at how much the company is expected to grow in the next few years.
考慮到Arcturus Therapeutics Holdings去年實際上有正的自由現金流,在今年燃燒現金之前,我們將專注於其營業收入,以衡量其業務軌跡。遺憾的是,該公司過去十二個月的營業收入呈逆向發展,下降了46%。然而,顯然,關鍵因素在於公司未來是否會發展其業務。因此,您可能想要看一看該公司未來幾年預計增長多少。
How Hard Would It Be For Arcturus Therapeutics Holdings To Raise More Cash For Growth?
arcturus therapeutics控股公司要籌集更多現金以支持增長會有多難?
Given its problematic fall in revenue, Arcturus Therapeutics Holdings shareholders should consider how the company could fund its growth, if it turns out it needs more cash. Companies can raise capital through either debt or equity. One of the main advantages held by publicly listed companies is that they can sell shares to investors to raise cash and fund growth. We can compare a company's cash burn to its market capitalisation to get a sense for how many new shares a company would have to issue to fund one year's operations.
鑑於arcturus therapeutics控股公司營業收入急劇下降,股東們應該考慮公司如何資助其增長,如果確實需要更多現金。公司可以通過債務或股權籌集資金。上市公司擁有的主要優勢之一是他們可以向投資者出售股票以籌集現金並支持增長。我們可以比較公司的現金消耗與市值,了解公司需要發行多少新股才能資助一年的運營。
Since it has a market capitalisation of US$532m, Arcturus Therapeutics Holdings' US$62m in cash burn equates to about 12% of its market value. As a result, we'd venture that the company could raise more cash for growth without much trouble, albeit at the cost of some dilution.
由於它的市值爲53200萬美元,arcturus therapeutics控股公司的6200萬美元現金消耗相當於其市值的約12%。因此,我們認爲該公司可以輕鬆籌集更多現金以支持增長,儘管會有一定程度的稀釋成本。
Is Arcturus Therapeutics Holdings' Cash Burn A Worry?
Arcturus Therapeutics Holdings 的現金燒耗是否令人擔憂?
As you can probably tell by now, we're not too worried about Arcturus Therapeutics Holdings' cash burn. In particular, we think its cash runway stands out as evidence that the company is well on top of its spending. While we must concede that its falling revenue is a bit worrying, the other factors mentioned in this article provide great comfort when it comes to the cash burn. Based on the factors mentioned in this article, we think its cash burn situation warrants some attention from shareholders, but we don't think they should be worried. When you don't have traditional metrics like earnings per share and free cash flow to value a company, many are extra motivated to consider qualitative factors such as whether insiders are buying or selling shares. Please Note: Arcturus Therapeutics Holdings insiders have been trading shares, according to our data. Click here to check whether insiders have been buying or selling.
您可能已經注意到,我們對arcturus therapeutics控股公司的現金消耗並不太擔心。特別是,我們認爲其現金儲備證明了公司在控制支出方面做得非常出色。雖然必須承認其營業收入下降有點令人擔憂,但本文提到的其他因素在處理現金消耗問題時提供了極大的安慰。根據本文提到的因素,我們認爲其現金消耗情況值得股東們關注,但我們認爲他們不應該擔心。當您沒有傳統的指標如每股收益和自由現金流來評估一家公司時,很多人會更有動力考慮定性因素,比如內部人員是否在買賣股票。請注意:根據我們的數據,arcturus therapeutics控股公司的內部人員一直在交易股票。點擊此處查看內部人員是否一直在買賣。
Of course, you might find a fantastic investment by looking elsewhere. So take a peek at this free list of companies with significant insider holdings, and this list of stocks growth stocks (according to analyst forecasts)
當然,您也可以通過在其他地方尋找找到出色的投資機會。因此,請查看具有重要內部股權的公司的免費列表,以及此分析師預測的股票成長列表。
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Simply Wall St的這篇文章是一般性質的。我們僅基於歷史數據和分析師預測提供評論,使用公正的方法,我們的文章並非意在提供財務建議。這並不構成買入或賣出任何股票的建議,並且不考慮您的目標或財務狀況。我們旨在爲您帶來基於基礎數據驅動的長期聚焦分析。請注意,我們的分析可能未考慮最新的價格敏感公司公告或定性材料。Simply Wall St對提及的任何股票都沒有持倉。
譯文內容由第三人軟體翻譯。