Zero Operating Cash Flow In 2024Zero operating cash flow materially weakens liquidity and the company's ability to fund working capital, bid on large projects, or invest in product development without external funding. Over months this raises execution risk on multi-quarter telecom contracts and financing dependence.
Declining Revenue And Shrinking MarginsPersistent revenue decline and margin compression signal structural pricing pressure or rising costs, harming profitability and cash generation. If sustained, this erodes reinvestment capacity and competitiveness for long-term service contracts and technical talent retention.
Rising LeverageA rising debt load reduces financial flexibility and increases interest and covenant risk, especially given weak operating cash flow. Over the coming months higher leverage can constrain bidding on larger projects and amplify vulnerability to telecom capex cyclicality.