Well, no. What is relevant is what cash flow, revenue and EBITDA will do in the future. Guidance is for revenue down ~10% and EBITDA down ~20%. If they can't bring costs down in line with revenue then that operating cash flow could get quickly eaten up and that $55M in borrowing starts to look fairly daunting.
Financial leverage works both ways, and this is the ugly side of it. That said, if they can trim some fat and avoid breaking any loan covenants, there's plenty of upside too - but a 100% downside isn't out of the question.
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