Multi-year Earnings And Cash Flow VolatilityHistoric swings to losses and negative cash flow over multiple years highlight execution and demand risk. This volatility weakens predictability of cash generation and complicates planning, making it harder to rely on recent gains as a durable baseline for growth investments.
Revenue Sensitivity To Platform ActivityRevenue depends structurally on project volume, average funding per project, and paid service attach rates. That makes top-line and margins sensitive to creator activity, consumer demand cycles, and competitive pressure, raising risk to stable growth if platform engagement slips.
Inconsistent Returns On EquityIntermittent profitability limits the firm's ability to deliver consistent ROE and shareholder value. Without steady earnings, the company may struggle to fund growth from retained profits, increasing reliance on careful capital allocation or external financing to scale long-term.