Negative Gross ProfitConsistent negative gross margins across multiple years show core unit economics are loss-making, implying pricing, cost structure or product mix problems. Without margin recovery, sales growth cannot translate into sustainable profitability, putting long-term viability at risk.
Sharp Revenue ContractionA 42% revenue decline in 2025 signals volatile demand or execution shortfalls. Such abrupt top-line deterioration undermines scale economics, complicates fixed-cost absorption, and delays achievement of profitable volumes for station deployments and service contracts over the medium term.
Persistent Negative Free Cash FlowOngoing negative free cash flow indicates the business cannot self-fund investments and working capital needs. Continued cash burn increases reliance on external financing or equity raises, risking dilution and constraining the company's ability to invest in deployments, maintenance, or R&D sustainably.