Weak Free Cash Flow GenerationVery negative FCF growth and low FCF-to-net-income mean reported profits are not fully converting to cash. Over months this constrains reinvestment, increases reliance on external funding, and raises vulnerability to tighter credit or higher funding costs for a fintech lender.
Past Higher Leverage RiskHistory of higher leverage suggests capital structure can revert to riskier levels under stress. For a consumer credit business, renewed leverage increases interest/funding exposure and could reduce strategic optionality if earnings or cash flow weaken over the medium term.
Revenue Growth VolatilityIntermittent revenue growth undermines predictability of customer adoption and credit volumes. For a platform reliant on repeat usage, inconsistent top-line momentum complicates credit-loss modeling, investment pacing, and long-term capacity planning for sustainable scale.