Revenue Fell To Zero In 2024A complete loss of reported revenue is a structural business-model failure: without sustainable sales or recurring income, profitability and cash metrics are fragile. Over 2–6 months, absent new commercial traction this undermines credibility with partners and access to non-dilutive funding.
Negative Free Cash Flow TrendPersistent negative operating and free cash flow indicates structural cash burn despite accounting profits in 2024. Over the medium term this forces reliance on external financing or asset sales, constraining strategic investments and increasing dilution or refinancing risk.
Compressed Equity And Asset BaseShrinking assets and equity materially reduce balance-sheet firepower for R&D, licensing, or commercialization. Over several months this lowers collateral for lenders, limits ability to absorb shocks, and narrows strategic options like partnerships or acquisitions that require capital backing.