Negative Operating And Free Cash FlowPersistent negative operating and free cash flow erodes financial flexibility and strains liquidity. Over 2–6 months this can force more external financing, constrain working capital and capex, and limit the company's ability to convert reported profitability into spendable cash.
Inconsistent / Declining Revenue GrowthVolatile and recently negative top-line growth undermines predictability for margins and investment. Structural unpredictability in revenue complicates planning for manufacturing capacity, raw-material buying and marketing, increasing execution risk over the medium term.
Unclear Revenue Composition And Partner ConcentrationLack of clarity on revenue mix and partner concentration raises counterparty and concentration risk. If sales are concentrated among a few buyers or tenders, loss or pricing pressure from key channels could materially affect results and cash flows over several months.