Persistent UnprofitabilityOngoing negative margins indicate the business has yet to achieve profitable unit economics. Without durable margin expansion from pricing, mix, or cost reductions, the company faces structural profitability risk that can impair reinvestment and investor returns over several quarters.
Negative Operating And Free Cash FlowContinued negative operating and free cash flow signals weak cash generation and ongoing liquidity pressure. Structural cash deficits constrain R&D, commercialization, and working capital funding, increasing reliance on external financing and raising execution risk over the medium term.
Negative Return On EquityA negative ROE despite improved leverage implies the company is not generating acceptable returns on shareholder capital. This structural shortfall can limit strategic options, deter long-term investors, and necessitate persistent reinvestment or capital raises to reach sustainable profitability.