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Plank Ventures Ltd. operates social promotion platforms, focusing on online contests and sweepstakes. The company shows a strong gross margin of 93%, indicating effective cost management, but faces significant concerns with negative EBITDA and net margins, suggesting operational inefficiencies. Its current ratio of 0.30 raises liquidity concerns, indicating potential challenges in meeting short-term obligations. Despite high margins, the low market cap and recent price drop of 16.67% highlight investor skepticism about its growth prospects. Overall, while there are strengths in profitability metrics, financial health and liquidity issues warrant caution.
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Revenue fell 16.5% year-over-year from $5.2M to $4.3M. The decline has persisted for multiple quarters.
Company posted a loss of $-3.7M over the last year, representing 86.1% of revenue.
Debt of $8.2M is 3.6x the company's cash position of $2.3M.
Gross profit margin decreased from 69.6% to 59.9% compared to last year.
Strong gross margin of 59.9% reflects healthy unit economics.
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