Unprofitability / Negative MarginsPersistent negative EBIT and net margins indicate the business has not yet converted revenue into operating profits. This structural loss-making undermines shareholder returns, increases the need for ongoing capital, and raises execution risk until sustainable margins are achieved.
Negative Operating Cash FlowNegative operating cash flow shows core operations are not yet cash-generative, meaning the company may need continual financing to support growth. This structural cash shortfall elevates funding risk and can constrain investment in sales, scale-up, and long-term projects.
Limited Scale / Small TeamA very small employee base implies constrained internal resources for commercial rollout, manufacturing scale-up, and global customer support. Execution of industrial partnerships and large infrastructure projects may depend on external partners, raising operational and delivery risks.