Negative Cash Flow/BurnPersistently negative operating and free cash flow means the business still consumes capital to run operations. Although burn improved versus 2024, ongoing negative cash generation forces reliance on existing capital or external financing, risking dilution or constrained investment if unreversed.
Ongoing Net LossesNegative net margins despite strong revenue growth show the company has yet to demonstrate sustainable earnings power. Continued operating losses can erode equity over time and require either sustained investment tolerance or structural cost and margin improvements to achieve long-term profitability.
Negative Return On EquityConsistent negative ROE indicates capital is being consumed rather than generating shareholder returns. Even with a sizable equity base, persistent negative returns heighten dilution risk and pressure management to reverse losses to protect long-term shareholder value.