Narrowing LossesNet losses narrowed materially to -3.4M in FY2025 from -11.0M in FY2024, a durable sign management is cutting burn or improving operations. If sustained, this trend supports runway extension and reduces immediate financing pressure while the company pursues commercialization.
Improved LeverageLeverage improved as equity rebuilt, lowering debt-to-equity to ~1.69 from ~6.79. This structural repair enhances solvency and financial flexibility, reducing near-term refinancing risk and increasing capacity to fund development without proportionally higher interest or covenant strain.
Reduced Cash Burn TrendFree cash flow improved meaningfully year-over-year, indicating management has slowed the rate of cash consumption. A sustained downward trajectory in cash burn can materially extend runway, lower frequency of dilutive raises and increase chance of achieving self-funded operations over months.