Negative Gross Profit Across YearsNegative gross margins indicate the product or service fails to cover direct costs, a structurally unsustainable position. Unless Terranet can raise prices, cut direct costs, or materially change its cost-of-delivery model, core operations cannot generate scalable profit over the medium term.
Consistent Operating And Free Cash Flow DeficitsPersistent negative operating and free cash flow demonstrate ongoing cash burn that will require external financing to sustain operations. This constrains strategic flexibility, risks shareholder dilution, and undermines the company's ability to invest in product commercialization without steady cash generation.
Zero Reported Revenue In 2025Recording zero revenue in the latest year severs recent growth momentum and suggests contract loss, recognition issues, or execution failure. Over a multi-month horizon this raises structural questions about customer traction and the firm's ability to convert its technology pipeline into sustainable commercial sales.