Revenue Collapsed To ZeroReporting zero annual revenue in FY2025 signals a severe loss of core commercial activity. Over months this undermines margin sustainability, destroys recurring revenue streams, and requires rebuilding client relationships or new product traction for durable recovery, making near-term operational stability fragile.
Operating Losses Despite Net IncomeCore operations remain loss-making while net income is boosted by non-operating items, indicating earnings are not sustainable. Over the medium term this masks true profitability, hampers cash conversion expectations, and leaves the company dependent on one-offs or accounting items rather than improving core margins.
Volatile, Deteriorating Cash FlowRecent return to negative operating cash flow and historical volatility reduce the firm's ability to self-fund operations, R&D, or sales investments. Persisting cash weakness over months forces external financing or asset actions, increasing execution risk for any strategic turnaround or growth initiatives.