Persistent Negative Operating Cash FlowChronic cash burn (OCF ~-36.7m TTM, FCF ~-62.0m) threatens operational sustainability without continual external funding. Ongoing negative cash generation erodes equity, limits reinvestment capacity, and increases the probability of dilution or constrained growth if revenue momentum slows.
Deep And Sustained Net LossesA very large net loss and negative margin (~-185%) show the company is not covering operating costs despite revenue growth. This indicates limited operating leverage today and means achieving consistent profitability will require material scaling or cost base restructuring, a multi-quarter structural challenge.
Small Organizational ScaleA small team (39 employees) constrains commercial reach, after-sales service and global roll-out of capital equipment. Limited headcount can slow customer deployment, constrain R&D throughput and make it harder to support large industrial clients versus better-resourced incumbents.