Moderate LeverageA debt-to-equity ratio near 0.84 signals meaningful leverage that raises interest and refinancing risks. In adverse demand or cost environments this level of debt could constrain capital allocation, limit strategic flexibility, and increase vulnerability to rate or cash-flow shocks over several quarters.
Referral-Dependent Business ModelDependence on referrals concentrates customer sourcing and requires sustained relationships with general clinicians. That structure can slow scalable, broad-market growth, create variability tied to referring clinics' networks, and necessitate continuous investment in reputation and partnerships for durable expansion.
Limited Operational ScaleA relatively small workforce implies constrained physical and personnel capacity, which can limit geographic expansion and throughput of high-complexity cases. Scaling will require meaningful hiring and facility investment, exposing near-term execution and cost risks as the company grows.