Negative ProfitabilityOngoing negative net income and EBIT margins indicate the core business is not yet generating sustainable operating profits. This constrains the company's ability to self-fund growth, reduces margin cushions against competition, and requires sustained improvement in pricing, cost control or scale to reach durable profitability.
Negative Free Cash FlowPersistently negative free cash flow means capital expenditures and investments exceed operating cash generation. Over the medium term this increases reliance on external financing, can pressure liquidity, and may force prioritisation of spend that could slow expansion into underserved regions.
Negative Return On EquityA negative ROE shows shareholder capital is not producing positive returns, signaling structural profitability issues. This can limit access to affordable capital, weaken investor confidence, and necessitate strategic changes to improve margins or capital efficiency to restore long-term value creation.