Negative Net MarginsPersistent negative net margins and volatile net income signal structural profitability issues: the company is not consistently converting revenue into retained earnings. That undermines long-term self-funding, limits capacity to invest, and heightens execution risk on any margin-recovery plans over coming months.
Declining Operating Cash FlowA significant drop in operating cash flow reduces internal capital for growth initiatives and forces greater reliance on external financing. Declining free-cash-flow growth undermines the company's ability to sustainably fund customer acquisition and product enhancements, risking slower long-term scalability.
Eroding Equity RatioA decline in equity ratio from 59.0% to 41.7% over two years signals weakening balance-sheet resilience. Reduced equity cushion raises financial vulnerability to shocks, may increase borrowing costs, and constrains strategic flexibility if losses persist, limiting durable capacity for investment or downturn absorption.