Falling RevenuesA meaningful, multi-year revenue decline undermines scale advantages and raises fixed-cost leverage. Persistent top-line contraction pressures margins, reduces cash generation, and makes funding R&D, sales expansion or service operations harder without clear demand recovery.
Persistent UnprofitabilityOngoing losses and negative return on equity indicate the business has not yet converted product demand or contracts into sustainable profits. Continued unprofitability erodes retained capital, limits strategic options, and increases dependence on external funding over the medium term.
Weak Cash GenerationNegative operating cash flow signals that core operations do not currently fund working capital or investment needs. Even with some FCF improvement, structural cash deficits constrain the company's ability to invest in sales, service or product upgrades without external financing.