Persistent Operating LossesConsistently negative operating profit means the core business does not generate operating earnings, implying reliance on non-operating items for reported profits. This undermines margin sustainability, limits reinvestment capacity, and raises structural questions about business model viability.
Flat, Very Low RevenuePersistently flat and very low top-line restricts scale benefits and makes it hard to improve operating leverage. Without clear revenue growth, the company faces constrained margin expansion, limited pricing power, and weaker competitiveness over the medium term.
Earnings And Cash VolatilityWild swings in net income and inconsistent free cash flow create forecasting and planning risk. Volatility erodes earnings quality, complicates capital allocation and dividend policy, and increases the chance that recent positive results may not be sustainable over the next several quarters.