Consistently Negative Operating Cash FlowOngoing negative operating cash flow is a structural concern: it necessitates continual external financing to fund operations and deployments. Over months this increases reliance on equity raises or financing, risks dilution, and restricts the company's ability to self-fund project rollouts and scale commercial activity.
Persistent Net Losses And Failure To Generate Free Cash FlowSustained net losses reduce retained capital and depress return metrics long term. Without a clear path to positive free cash flow, the firm may struggle to invest in commercialization, meet delivery timelines, or secure favorable financing, threatening execution of multi-stage projects over the next several months.
Sharp And Inconsistent Revenue Trends, Including A Major DeclineA pronounced revenue decline and volatile growth undermine scaling economics and make fixed-cost absorption harder. This instability can slow customer adoption, delay project milestones and reduce near-term visibility into backlog monetization, posing a structural headwind to reaching sustainable profitability.