Negative Operating Cash FlowPersistent negative operating cash flow (-319.76m) despite accounting profits highlights difficulty converting earnings into cash. Over several months this cash burn pressures liquidity, can limit capital deployment, and increases reliance on non-operating funding to sustain growth.
Dependence On Financing For LiquidityLarge financing inflows (695.9m) have been required to support liquidity, indicating dependence on external capital. That reliance raises medium-term risk if funding conditions tighten or costs rise, making operational plans vulnerable to capital-market access.
Equity And Balance-sheet VolatilityHistoric swings in stockholders' equity point to balance-sheet volatility and potential episodic valuation or earnings shocks. Such variability complicates capital allocation, forecasting and investor confidence, increasing governance and execution risk over a multi-month horizon.