Declining RevenueA 24% decline in revenue is a structural concern: it reduces operating leverage, constrains margins, and limits reinvestment into product development and commercialisation. If sustained over 2–6 months it undermines growth prospects and increases funding needs.
Persistent Operating LossesNegative profitability across net, EBIT and EBITDA margins signals that core operations do not cover costs. Persistent losses erode equity, suppress ROE, and limit the ability to self-fund expansion or absorb setbacks, creating structural pressure on strategic options.
Negative Operating Cash FlowNegative operating cash flow means core activities are not generating cash to sustain operations. Over months this increases dependence on financing or equity raises, constrains discretionary spending on R&D and commercialisation, and raises execution risk.