Rising Total LiabilitiesAn increase in total liabilities, while not yet impacting equity materially, could reflect growing payables, deferred revenue or new financing. Continued liability growth may strain liquidity, limit discretionary investment, and raise the company's financing costs over the medium term.
Small Employee BaseWith only 28 employees, Spectra faces limited operational bandwidth to execute multiple large, multi-year government integrations simultaneously. This concentrates execution risk and dependence on key personnel, potentially slowing deployments, support and scale-up efforts.
Concentrated Market ExposureHeavy reliance on currency and secure-document markets and partnerships concentrates revenue risk. Long procurement cycles, regulatory shifts or contract non-renewals could materially affect revenues; limited diversification raises vulnerability to sector-specific shocks.