Financial PerformanceThe company has generated positive operating cash flow this year, with $69M generated year-to-date versus a cash outflow of $19M during the year-ago period.
Market ValuationWith shares trading at a ~45% discount to the peer group on 2025 AEBITDA estimates, a Buy rating and $9 price target are reiterated.
Strategic OpportunitiesThe ability to generate positive free cash flow, along with the recent $250M shelf filing, should provide the company with the optionality to pursue strategic acquisitions and address upcoming debt maturities.