Persistent Cash BurnMaterial negative operating and free cash flow (~-6.8M) is a durable constraint: continuing cash burn forces frequent financing, dilutes shareholders or limits capital for sales and product development. Without improved cash conversion, growth is contingent on external funding.
Deep And Sustained UnprofitabilityExtremely negative net margins (~-228%) show that current revenues do not cover operating costs. This structural loss profile means profitability depends on large revenue scale or major cost restructuring, limiting durable free-cash-flow generation in the medium term.
Equity Erosion / Negative Shareholders' EquityTransition to negative equity signals accumulated losses and a weakened capital cushion. Negative equity can constrain strategic choices, make lenders cautious, and increase the likelihood of dilutive capital raises, impairing long-term financial flexibility and partner confidence.