Negative Equity And Elevated LeverageNegative shareholders’ equity and a negative debt/equity ratio indicate a fragile capital structure that can constrain access to financing, limit strategic flexibility, and increase refinancing risk, making sustained investment in constellation expansion more costly and uncertain over the medium term.
Persistent Operating Cash Flow DeficitsOngoing negative operating cash flow signals structural cash burn versus internal earnings, forcing reliance on external financing to fund operations and growth. This undermines long-term self-funding of constellations and exposes the business to capital market access and dilution risks.
Unprofitable Operations Despite Modest Revenue GrowthRevenue growth is modest while net and operating margins remain negative, indicating the company has not achieved scale or operating leverage. Without sustained higher top-line growth or margin expansion, profitability will remain elusive and limit cash generation and reinvestment capacity.