Modest Free Cash Flow RetentionWhile FCF turned positive, limited retention suggests much cash is consumed by working capital or non-discretionary uses. This constrains capacity for larger capital projects, shareholder returns, or bolt-on acquisitions without external funding, limiting strategic flexibility.
Moderate Revenue GrowthSingle-digit organic growth in a competitive CRO/testing market may limit scale benefits and make it harder to outpace peers. Without acceleration or larger contracts, revenue may not support materially higher investment or faster margin expansion over the medium term.
Very Low Dividend YieldA negligible dividend reduces appeal to income-focused investors and limits one avenue of shareholder returns. If management prioritizes reinvestment over payouts, investors seeking yield may look elsewhere, potentially narrowing the shareholder base and pressuring stock stability.