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* Free cash flow = OCF − net investing outflow (the filings carry no standalone capex line).
Dividends declared (per SOCE filings): FY2022 0 · FY2023 7,294 · FY2024 22,200 — 3-yr total 29,494
Georgian delivery centre of iTransition, an international custom software development firm.
| Ratio | 2022 | 2023 | 2024 |
|---|---|---|---|
| Margins | |||
| Gross Margin | 100.0% | 100.0% | 100.0% |
| EBITDA Margin | 18.2% | 64.6% | 58.8% |
| EBITDAR | 1,298 | 21,581 | 13,276 |
| EBITDAR Margin | 20.6% | 65.0% | 59.1% |
| EBIT Margin | 18.0% | 64.5% | 58.6% |
| Net Profit Margin | 16.5% | 63.6% | 54.8% |
| Operating Expense % of Sales | 81.8% | 35.4% | 41.2% |
| Returns | |||
| Return on Assets (ROA) | 53.1% | 134.4% | 135.6% |
| Return on Equity (ROE) | 100.0% | 142.0% | 246.6% |
| ROIC [EBIT / Invested Capital] | N/A | 463.3% | 1045.2% |
| Leverage & debt balances | |||
| Debt-to-Assets | 0.0% | 0.0% | 0.0% |
| Debt-to-Equity | 0.00x | 0.00x | 0.00x |
| Debt-to-EBITDA | 0.00x | 0.00x | 0.00x |
| Equity-to-Assets | 53.1% | 94.7% | 55.0% |
| Net Debt | -1,257 | -10,257 | -3,734 |
| Cash & Equivalents | 1,257 | 10,257 | 3,734 |
| Total Debt | N/A | N/A | N/A |
| Liquidity & working capital | |||
| Current Ratio | 1.99x | 18.56x | 2.20x |
| Quick Ratio | 1.99x | 18.56x | 2.20x |
| Cash Ratio | 1.37x | 12.20x | 0.91x |
| Total Current Assets | 1,826 | 15,600 | 8,994 |
| Total Current Liabilities | 919 | 840 | 4,089 |
| Inventory | N/A | N/A | N/A |
| Trade Receivables | 548 | 5,322 | 5,238 |
| Trade Payables | 3 | 3 | 4 |
| Net Working Capital | 907 | 14,759 | 4,905 |
| Net Working Capital % of Revenue | 14.4% | 44.4% | 21.8% |
| Trade Working Capital | 545 | 5,319 | 5,234 |
| Trade Working Capital % of Revenue | 8.6% | 16.0% | 23.3% |
| Change in Trade Working Capital | N/A | 4,774 | -85 |
| Turnover & efficiency | |||
| Inventory Turnover | N/A | N/A | N/A |
| Days Inventory Outstanding (DIO) | N/A | N/A | N/A |
| Receivables Turnover | 11.50x | 6.24x | 4.29x |
| Days Sales Outstanding (DSO) | 31.7 | 58.5 | 85.1 |
| Payables Turnover | N/A | N/A | N/A |
| Days Payable Outstanding (DPO) | N/A | N/A | N/A |
| Cash Conversion Cycle | 31.7 days | 58.5 days | 85.1 days |
| Asset Turnover | 3.21x | 2.11x | 2.47x |
| Cash flow & dividends | |||
| Operating Cash Flow | 1,495 | 16,222 | 12,425 |
| Free Cash Flow (OCF − Capex proxy) | 1,348 | 16,203 | 12,425 |
| Cash Conversion (OCF / EBITDA) | 130.1% | 75.6% | 94.2% |
| Dividends Declared | 0 | 7,294 | 22,200 |
| Dividend Payout Ratio | 0.0% | 34.5% | 180.3% |
Money rows — EBITDAR, net debt, cash, total debt, operating and free cash flow, dividends declared — are in GEL, thousands. Margins, returns and payout are percentages; turnover and leverage are multiples; DIO/DSO/DPO are days. Hover a metric name for its definition.
Shareholders, directors and group links from the companyinfo.ge public register — as filed, so stakes need not sum to 100% where a holding is undisclosed.
Ownership & directors from companyinfo.ge (public corporate registry).
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