Negative Equity / High LeverageNegative shareholders' equity and a negative debt-to-equity ratio reflect a structurally weak capital base and high leverage. This raises refinancing and covenant risk, constrains borrowing capacity, and limits strategic flexibility, creating sustained financial vulnerability if not remedied.
Persistent Net LossesA negative net margin of -18.38% shows persistent losses despite strong top-line and operating margins. Continued net losses erode capital reserves, hinder retained earnings recovery, and mean long-term profitability depends on sustained margin improvement or lower financing costs to be structurally viable.
Operating Cash Flow ShortfallOperating cash flow does not fully cover net losses, indicating core operations currently undergenerate cash relative to reported losses. This reliance on non-operating inflows or financing weakens liquidity resilience and may force refinancing, asset sales, or dilution to sustain operations.