FX Sensitivity To GuidanceMeaningful currency sensitivity means reported revenue and margins can fluctuate with AUD/USD moves; hedges reduce but don’t eliminate exposure. Over a multi-month horizon, FX volatility can materially affect reported performance and complicate near-term target achievement.
Gross Margin Pressure From External CostsTariffs, elevated logistics costs and capital/mix shifts create ongoing headwinds to gross margin sustainability. If these structural cost pressures persist or expand, they could erode the company’s margin advantage and require pricing or cost-structure responses that take time to implement.
CORIS Ramp Increases OpEx And Cash UsageCommercializing CORIS requires elevated operating spend and inventory build ahead of revenue recognition, pressuring near-term cash conversion. Execution risk on regulatory rollouts and market adoption could delay payback and temporarily compress free cash flow despite a strong balance sheet.