Low Leverage / Strong Balance Sheet CushionVery low leverage materially lowers financial distress risk and preserves flexibility for a pre-revenue developer. This durable buffer supports ongoing project spend, eases access to non-dilutive financing or credit, and extends runway versus highly leveraged peers.
Sizable Asset/Equity BaseA relatively large asset and equity base provides an enduring cushion to fund development activities and absorb setbacks. That capital base strengthens negotiating position with partners and lenders and supports multi-quarter project execution before urgent recapitalization is needed.
Improving Free Cash Flow TrendAn improving free cash flow trajectory, even from negative levels, signals early progress in cash discipline or cost control. If sustained, this reduces future financing dependence and indicates the company is moving toward a more self-sufficient operating profile over coming quarters.