Persistent Operating LossesOngoing negative EBIT/EBITDA and continual net losses indicate the business has not reached operational profitability. Over months this limits reinvestment, erodes retained capital, and makes achieving sustainable returns dependent on material operational changes or new revenue streams.
Weak And Deteriorating Cash GenerationConsistent negative operating and free cash flow with deterioration in the latest year signals persistent cash burn. Structurally this increases funding dependence, raising the risk of dilution or costly financing and constraining the company's ability to invest in growth or stabilization.
Volatile, Limited Revenue; Dropped To ZeroSeverely inconsistent revenue, including a fall to zero, undermines the path to scalable operations and sustainable margins. Over a multi-month horizon this creates uncertainty around recovery, heightens execution risk, and increases reliance on external funding to sustain the business.