Operating Cash Flow WeaknessAbsence of positive operating and free cash flow in the latest year limits internal funding for capex, inventory and working capital during rapid scale-up. Reliance on external financing or equity could dilute stakeholders and raises execution risk during growth phases.
Negative Operating MarginsDespite revenue gains, persistent negative EBIT/EBITDA margins indicate fixed-cost intensity and incomplete operating leverage. If cost structure remains elevated, the company may struggle to convert top-line growth into sustainable operating profits over the medium term.
ASP Pressure & CompetitionStructural shift to high-volume, lower-priced ADAS sensors and intensified competition risks long-term ASP erosion. Sustained price pressure could compress margins, forcing trade-offs between market share and profitability and challenging long-term margin sustainability.