Very High Leverage (debt-to-equity ~6.1x)A debt-to-equity ratio around 6x materially raises refinancing, interest-rate, and solvency risk. High leverage constrains strategic flexibility, magnifies earnings volatility impacts, and can force asset sales or dilutive financing if cash flows weaken, creating persistent structural financial vulnerability.
Material Net Losses And Negative ROEDespite strong operational margins, the company reports deep net losses and negative ROE, indicating heavy below-EBIT charges or financing costs. Persistent bottom-line losses erode equity, limit retained-capital growth, and impede the company’s ability to self-fund turnarounds or meet covenant demands over the medium term.
Volatile / Limited Revenue HistoryA step-change in scale from a prior low-revenue base creates forecasting uncertainty. The absence of a multiyear revenue track record makes it difficult to assess sustainability of recent improvements and cash flow durability, raising execution risk for the next 2–6 months as integration and scaling are tested.