Inconsistent ProfitabilityOscillating profitability and persistent negative EBIT show the business has not yet achieved reliable operating profits. This variability limits internal funding for strategic initiatives, raises execution risk, and could constrain long-term investment without clearer path to stable margins.
Negative Free Cash FlowA swing to slightly negative free cash flow reduces financial flexibility; while small, it indicates growth or cost pressures are absorbing cash. If FCF does not revert positive, the company may need external capital, increasing dilution or funding costs and constraining strategic options.
Rising Debt In 2025Debt-to-equity rose to ~0.20 in 2025 from ~0.11 in 2024, increasing leverage as the company returned to losses. Higher leverage reduces resilience to revenue shocks, limits financial flexibility for M&A or capex, and raises refinancing risk if profitability isn't restored.