Persistent UnprofitabilityThe company’s ongoing negative EBIT and EBITDA margins show it remains unprofitable at the operating level. Persistent losses limit internal funding for growth, increase dependence on external capital, and indicate structural cost or scale challenges that must be addressed for long-term sustainability.
Negative Operating And Free Cash FlowNegative operating and free cash flows impair the firm’s ability to fund commercialization, capital expenditures and working capital from operations. Until OCF turns positive, the business faces ongoing financing needs that can dilute shareholders and constrain strategic flexibility.
Severe Revenue Volatility And Recent DeclineLarge swings and a sharp recent drop in revenue undermine predictability of customer demand and complicate scaling. Volatility suggests commercial execution or market adoption issues that, if unresolved, will hamper sustainable margin improvement and long-term cash generation.