Sharp Revenue DeclineA ~57% revenue decline is a material structural deterioration of scale and market traction. Sustained top-line shrinkage impairs operating leverage, constrains margin recovery, and limits free cash flow potential, increasing execution risk over the coming quarters.
Negative Operating And Free Cash FlowNegative operating and free cash flow reduce internal funding for working capital, investment, and debt service. Over months, this forces reliance on external financing or asset sales, weakening strategic optionality and increasing liquidity risk.
Profitability And Margin DeteriorationTurning net losses and falling EBIT/EBITDA margins signal structural profitability issues and operational inefficiency. Persistent margin erosion undermines cash conversion and reinvestment capacity, raising the risk of longer-term value destruction without corrective action.