OZ Vision’s QQ4 2024 results show a mixed top-line story but a material deterioration in profitability and cash generation. Revenue came in at 30,267 USD (unit reported as shown in the filing) with a YoY increase of 74.15% and a QoQ decline of 35.35%. Gross profit was 11,267 USD, yielding a gross margin of 37.23%, modestly positive versus the prior year’s margin trajectory. However, the quarter delivered a substantial EBITDA loss of 2,476,158 USD and a net loss of 502,197 USD, driving an annualized negative earnings profile. The primary driver of the EBITDA shortfall is heavy depreciation and amortization (reported as 1,973,961 USD, contributing to an EBITDAR of -81.81% of revenue) and elevated total operating expenses of 65,672 USD, resulting in an operating loss of 54,405 USD (operating margin of -1.80%). Net income and earnings per share remained negative at -502,197 USD and -0.0191 USD per share, respectively.
The balance sheet reflects a stark balance between a relatively small cash base and a large intangible asset load. Cash and cash equivalents stood at 15,602 USD with total assets of 13,724,909 USD and intangible assets of 13,098,890 USD. The company carries no reported debt, and total stockholders’ equity sits at 12,633,450 USD, with a current ratio of 0.0143x and a cash ratio of 0.0143x, indicating severe liquidity constraints on a near-term basis. Net cash provided by operating activities was negative at 22,056 USD, driven by working capital movements and sizeable non-cash items (480,141 USD). Free cash flow was also negative by 22,056 USD for the period.
Given the absence of an earnings call transcript in the provided data, this analysis relies on the disclosed financials and line-item drivers. The industrials trucking sub-sector has demonstrated resilience in demand during periods of macro stability and inventory restocking, but OZ Vision’s current results imply a path to profitability requires meaningful operating leverage, potential monetization or impairment adjustments to intangible assets, and improvements in working capital. The near-term investment risk is high, but a potential upside exists if the company can convert top-line growth into sustainable EBITDA and free cash flow while stabilizing liquidity.”,