Financing Structure And DilutionThe combined equity and convertible note financing increases shareholder dilution and adds interest and hedging costs, which has pressured analyst price targets and reduces near-term financial flexibility.
Operating Losses And Rising ExpensesWidening operating losses driven by higher selling, general and administrative costs and increased research and development spending pressure margins and raise reliance on additional capital.
Production Scaling And Market Adoption UncertaintyUncertainty around scaling aircraft production, the revenue mix between urban air mobility and OEM use cases, and broader market adoption creates significant modeling imprecision and execution risk for future profitability.