According to BlockBeats, Serenity said on Aug. 12 that it has maintained a public bearish view on CRWV, the neocloud company. Serenity's post cited strong demand and an order backlog above $100 billion, plus an adjusted EBITDA margin of 59%. Even so, the company's interest expense stood at $640 million, equal to roughly 42% of EBITDA. Serenity said debt interest is seriously squeezing cash flow and that CRWV's net loss has been expanding. The remarks were part of a post dated Aug. 12 and carried by BlockBeats. Serenity described its bearish position as consistent over time. The figures named by Serenity include a backlog of more than $100 billion, a 59% adjusted EBITDA margin and $640 million in interest expense. That interest expense represents about 42% of EBITDA, according to the statement. Serenity's stance hinges on the gap between these strong operating metrics and the company's interest burden, which it said is worsening the net loss.
Serenity said in an Aug. 12 statement, according to BlockBeats, that it has kept a public bearish stance on CRWV, a neocloud company. The firm said debt interest costs are severely eroding CRWV's cash flow.
Serenity acknowledged strong demand and an order backlog of more than $100 billion, plus an adjusted EBITDA margin of 59%. But interest expenses reached $640 million, roughly 42% of EBITDA, which Serenity says has widened CRWV's net loss.
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