企業概要
Allurion Technologies Inc. is a medical device manufacturer dedicated to addressing obesity through a specialized weight loss platform designed for individuals who are overweight. The company operates within the Healthcare sector, specifically focusing on the Medical Devices industry, where it develops intragastric solutions that do not require surgical procedures. As of the latest data, the firm employs approximately 38 staff members and maintains a market capitalization of $12.00 million. The company reported annual revenue of $15.23 million, which indicates that it is a micro-cap entity with a relatively small revenue base compared to established industry peers. This limited scale suggests that the company is still in a development phase where market penetration and commercialization efforts are critical to expanding its operational footprint.
財務健全性
The company generated revenue of $15.23 million over the trailing twelve months, yet this figure masks a significant operational deficit with a net income loss of $-28,755,000 and an EBITDA of $-29,174,000. The substantial gap between positive revenue and negative net income reveals a cost structure characterized by high operating expenses that currently exceed gross profits, a common challenge for early-stage biotech and device firms. Free cash flow stands at $-16,837,124, indicating that the company is burning cash and lacks the immediate financial flexibility to fund operations without external capital injection or equity dilution. Margins show extreme pressure, with a gross margin of 62.8% contrasted by a negative operating margin of -174.2% and a profit margin of -188.8%, suggesting that overhead costs are disproportionately high relative to sales. On the balance sheet, the company holds $5.41 million in cash against total debt of $76.74 million, creating a leverage situation where liabilities significantly outweigh liquid assets. While the debt-to-equity ratio is not available, the disparity between cash and debt implies a highly leveraged position that poses liquidity risks. The current ratio of 0.33 further highlights severe short-term liquidity constraints, as current liabilities exceed current assets, raising concerns about the ability to meet obligations due within one year. Return on Equity is not applicable due to the negative equity position, while the Return on Assets stands at -77.6%, reflecting inefficient asset utilization or high costs relative to the asset base.
バリュエーション評価
Valuation metrics for Allurion Technologies reflect the high-risk profile associated with its financial position, as the P/E Ratio (TTM) is not available and the forward P/E is listed as -0.65. The negative forward P/E implies that the market is not pricing in immediate earnings growth but rather assessing the company based on alternative metrics due to current losses. The price-to-book ratio is -0.13, which indicates that the market values the company at a fraction of its book value, or even below net asset value, suggesting a deep discount often seen in distressed or speculative stocks. Alternative valuation measures such as a price-to-sales ratio of 0.79 and an EV/EBITDA of -2.86 provide context, showing that the market is willing to pay less than one dollar for every dollar of sales, despite the negative earnings multiple. The stock's price range over the last 52 weeks spans from a low of $0.23 to a high of $3.42, meaning the current price sits significantly below the 52-week high and near the bottom of the trading range. The beta value of -0.25 is highly unusual and suggests an inverse correlation with the broader market, meaning the stock may move in the opposite direction of the general market index, though this specific metric often appears in data anomalies for small-cap stocks.
Growth & Income
Revenue growth year-over-year has contracted at a rate of -35.4%, while earnings growth is not available due to the company's negative earnings history. This contraction in revenue indicates a challenging commercial environment or a decline in product uptake, and without positive earnings, it is impossible to determine if earnings are growing faster than revenue. The company does not pay a dividend, as evidenced by a dividend yield of N/A and a payout ratio of 0.0%, which means all available capital is theoretically available for reinvestment but is currently consumed by operational losses. Since there are no dividends to distribute, the company's strategy relies on retaining cash or raising new capital to fund growth initiatives rather than rewarding shareholders with income distributions. The overall growth and income profile is defined by negative revenue momentum and a complete absence of shareholder returns, positioning the asset as a high-risk speculative investment rather than a value or income play.