Persistent UnprofitabilityExtremely negative net and EBIT margins indicate the core business currently destroys value. Persistent operating losses limit internal reinvestment, increase dependency on external capital, and mean profitability requires meaningful cost reduction or revenue scale to be achieved.
Negative Cash GenerationOngoing negative operating and free cash flow, despite modest FCF growth, signal continued cash burn. Weak cash generation undermines financial resilience and forces reliance on financing, which can dilute shareholders or constrain long-term investments if cash flow does not sustainably improve.
Very Poor Shareholder ReturnsA severely negative ROE reflects large losses relative to equity and signals shareholder capital is not being productively deployed. Even with low leverage, negative ROE highlights structural profitability issues that must be resolved to deliver long-term returns.