Zero Operating And Free Cash FlowZero operating and free cash flow in 2024 is a major structural concern: without internal liquidity the firm cannot reliably fund capex, R&D or working capital from operations. That forces dependence on external financing, increasing refinancing and execution risk despite low leverage.
Falling Revenue TrendRevenue declined roughly 16%, which erodes scale economics and pressures long-term margin recovery. Persisting top-line contraction reduces room for R&D and commercial investment, weakens negotiating leverage with suppliers/customers, and makes sustainable turnaround more difficult.
Material Margin And ROE DeteriorationSignificant drops in gross and net margins alongside ROE collapsing to 2% indicate weakening profitability and inefficient capital use. This undermines returns on invested capital, limits reinvestment capacity, and threatens long-term shareholder value unless the company restores margins and operational efficiency.