회사 개요
Allurion Technologies Inc. is a medical device manufacturer dedicated to developing a swallowable, procedure-less intragastric balloon platform designed to assist individuals in managing obesity without surgical intervention. The company operates within the Healthcare sector, specifically targeting the Medical Devices industry where innovation in non-invasive treatments for chronic conditions is a primary focus. Currently, the enterprise maintains a market capitalization of $12.00M, generates annual revenue of $15.23M, and employs a workforce of 38 individuals. These valuation and revenue figures indicate that Allurion is a micro-cap entity with a relatively small operational footprint, suggesting that its business model relies heavily on the successful commercialization of its proprietary AI-powered remote patient monitoring technology rather than established large-scale manufacturing revenues.
재무 건전성
The company reported revenue of $15.23M for the trailing twelve months, yet incurred a net income loss of $-28,755,000 and an EBITDA of $-29,174,000, revealing a significant structural cost burden where operating expenses far exceed gross profit generation. The free cash flow stands at $-16,837,124, which implies that the company is currently burning cash at a substantial rate, thereby limiting its financial flexibility to fund operations without external capital injections. Margin analysis shows a gross margin of 62.8%, indicating efficient production costs relative to sales, but this is overshadowed by an operating margin of -174.2% and a profit margin of -188.8%, signaling severe inefficiencies in overhead management and overall profitability. On the balance sheet, the company holds $5.41M in cash against $76.74M in debt, while the debt-to-equity ratio is listed as N/A, indicating a highly leveraged position where liabilities significantly outweigh liquid assets. The current ratio is 0.33, a figure that suggests the company faces potential short-term liquidity challenges as its current assets are insufficient to cover current liabilities without refinancing or asset sales. Return on Equity is N/A due to the negative equity position, while the return on assets is -77.6%, demonstrating that the management's current operations are destroying value relative to the asset base rather than generating returns for shareholders.
밸류에이션 평가
Valuation metrics for Allurion present a complex picture, with a trailing P/E ratio of N/A due to losses and a forward P/E of -0.65, which implies that the market is pricing in continued negative earnings rather than a turnaround in the near term. The price-to-book ratio is -0.13, indicating that the stock trades at a fraction of its book value, a situation often seen in distressed or highly speculative micro-cap stocks with negative shareholder equity. Alternative valuation measures such as the price-to-sales ratio of 0.79 and an EV/EBITDA of -2.86 suggest that the stock is priced based on revenue generation rather than earnings power, highlighting the high risk associated with investing in a pre-profitability stage. In terms of trading range, the stock's 52-week high is $3.42 and its 52-week low is $0.23, meaning the current price sits well below the recent highs, reflecting a prolonged period of price suppression and negative market sentiment. The beta of -0.25 is an unusual metric for this sector, indicating that the stock price has historically moved inversely to the broader market or displayed extreme volatility patterns that deviate from standard market correlations.
Growth & Income
Revenue growth year-over-year has declined by -35.4%, while earnings growth is N/A due to consistent losses, indicating that the company is shrinking in terms of top-line sales rather than expanding its market share. Since the company does not pay a dividend, the dividend yield is N/A and the payout ratio is 0.0%, meaning the firm retains all resources internally to attempt to cover its massive cash burn and debt obligations rather than distributing income to shareholders. The overall growth and income profile is characterized by negative revenue momentum and a complete absence of cash returns to investors, positioning the stock purely as a high-risk speculative play on the potential future success of its weight loss platform. The lack of dividend income and negative growth rates combined with a leveraged balance sheet create a scenario where capital preservation is difficult for existing holders of the ALUR shares.