Sharp Revenue ContractionA roughly 44% TTM revenue decline is a sustained structural concern that reduces scale economics and weakens pricing power. Over several months this undermines margin recovery, limits internal funding for maintenance or growth, and signals deeper demand or execution problems.
Negative Operating And Free Cash FlowPersistent negative operating and free cash flow erodes liquidity and forces reliance on external financing or asset sales. This materially constrains the firm's ability to fund maintenance capex, meet covenant tests, or invest to reverse declines, raising medium-term solvency and serviceability risk.
Rising Debt LevelsAn increase in total debt amid deteriorating profits and cash flow heightens refinancing and interest-service risk. Structurally, higher leverage limits strategic flexibility, raises fixed obligations, and increases the probability that adverse shocks over the next few quarters force dilutive financing or asset disposals.