Zero Net Debt And Sizable Equity BaseThe 2024 balance sheet shows zero reported debt and a large equity cushion, materially reducing financial risk and refinancing needs. This conservative capitalization improves resilience through downturns and underpins strategic flexibility over the next several quarters, though it alone won’t restore profitability.
Strong Operating And Free Cash Flow In 2024Operating and free cash flow (~91.7M) were strongly positive in 2024 and exceeded accounting losses, indicating the business can generate real cash despite reported losses. Durable cash generation supports ongoing operations, reinvestment, and reduces near-term external funding needs if the trend persists.
Top-line Recovery In Latest YearRevenue growth of +12.3% in 2024 after a prior decline suggests recovering demand and potential scale benefits. Sustained top-line improvement can enable operating leverage and margin recovery over several quarters, provided the company controls below-gross costs and converts revenue into positive operating results.