Negative Operating Cash FlowPersistently negative and deteriorating operating cash flow signals weak cash conversion from its business activities, increasing reliance on external funding. Over months this undermines financial flexibility, constrains investment in sales/engineering, and raises refinancing risk if funding markets tighten.
Sustained UnprofitabilityOngoing negative EBIT and widening net losses indicate the business has not yet achieved sustainable unit economics. Without margin recovery or substantial revenue acceleration, losses will erode equity and limit reinvestment capacity, potentially forcing cost cuts or financing dilution.
Reliance On External FinancingDependence on outside funding is a structural vulnerability: if capital markets tighten or investor appetite wanes, the company may face higher costs of capital or dilution. This risk can constrain strategic initiatives and slow commercialization of SLAM deployments over the medium term.