On the stock market since 2002, it operates in the world of health and science. It has 72 employees. Now — the numbers.
The company is still in the product-building phase: its spending runs far above its sales. That only changes once the product starts selling at scale.
That much dependence is a risk in itself: if this one line weakens, the whole company feels it directly.
Average growth of 8% a year over the last 4 years. Red columns mark years that ended in a loss.
Before the clock runs out, either sales must climb sharply or new money must come in. This is the most critical line in the whole picture.
An investor who bought at the very peak is down 90% today. The business is the same; what changed most is the price — and the expectations — the market pins on it.
Over the last 3 years, sales grew about 8% a year on average.
Sales run at $24.5M a year. A small number, but proof the product has real buyers.
A loss of $30.2M against $24.5M in annual sales.
At the current pace of spending, the cash lasts less than a year. After that, the company needs to find new money.
On our five-subject report card, IPA sits behind the class. A low grade doesn’t mean “doomed” — it means “big claim, small proof.”
The takeaway: IPA is a high-risk stock — not yet profitable, and its future rides on its product catching on.