LTRYW experienced a dramatic collapse in core business operations with revenue and cash position falling to near-zero levels.
The company appears to be in severe financial distress, with revenues collapsing from $68.5M to just $6.8M while cash reserves were almost entirely depleted from $62.6M to just $103K. This combination of operational collapse and liquidity crisis suggests potential bankruptcy risk or fundamental business model failure.
The financial statements reveal a company in crisis, with revenue falling catastrophically alongside a near-complete depletion of cash reserves and receivables. While liabilities increased meaningfully to $17.6M, stockholders' equity was cut roughly in half to $59.4M as the company burned through assets. The magnitude of these declines across all operational metrics suggests either a major business restructuring, asset divestiture, or fundamental operational failure requiring immediate investor attention.
Cash declined 99.8% — significant cash burn or deployment; verify adequacy of remaining liquidity runway.
Receivables declined — improved collection efficiency or conservative revenue recognition.
Gross margin compression — rising input costs, pricing pressure, or unfavorable product mix shift.
Revenue declined 90.1% — significant demand weakness or market share loss warrants investigation.
Current assets declined 79.2% — monitor working capital adequacy and short-term liquidity.
Liabilities grew 73.1% — significant increase in debt or obligations, assess impact on financial flexibility.
Current liabilities surged 73.1% — significant near-term obligations; verify ability to meet short-term debt.
Equity declined sharply — large losses, buybacks, or write-downs reducing book value significantly.
Total assets contracted 46.1% — asset sales, write-downs, or balance sheet optimization underway.
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