Weak Cash ConversionOperating cash flow was barely positive in 2024 and far below reported earnings, with a very low OCF-to-net-income ratio and prior multi‑year negative cash flow. Poor cash conversion constrains reinvestment, increases financing reliance, and weakens the firm’s ability to withstand revenue volatility over months.
Revenue And Earnings VolatilityHistorical swings in revenue and operating results reduce predictability of future cash flows and make capacity planning and commercial investments risky. Such volatility complicates long‑term contract wins, reimbursement negotiations, and strategic partnerships, impeding steady market expansion over the medium term.
Small Scale And Low LiquidityVery small organizational scale and limited trading liquidity constrain commercial reach, R&D resources, and the pace of hospital penetration. Limited scale increases execution risk, slows durable market share gains, and can raise the effective cost of capital or delay needed investments over a multi‑month horizon.