Extremely Negative Net Margin (~-290%)A ~-290% net margin shows losses far exceed revenues, reflecting structural mismatch between pricing and total cost. Persistent deep losses deplete capital, impede reinvestment, and make operational recovery reliant on material margin improvement or external financing.
Very Large Operating Cash BurnSustained ~-$10B operating and free cash flow drains liquidity and requires ongoing external funding. This cash burn creates durable solvency and dilution risk, constraining strategic investments and making the business dependent on refinancing or capital raises.
Negative Shareholders' Equity; Stressed Balance SheetNegative equity and reported balance-sheet stress indicate accumulated losses and impairments. With debt present, this raises refinancing, covenant, and counterparty risks, limiting financial flexibility and increasing the likelihood of restructuring or dilutive capital solutions.