Low Leverage / No DebtNo debt materially reduces solvency and interest expense risk, improving financial flexibility over the coming months. For a company with negative cash flow, the lack of leverage lowers near-term default risk and preserves optionality to raise equity or partner capital on better terms.
Improving Cash BurnSubstantial reduction in cash outflows shows management has cut spending or improved efficiency, extending runway absent new financing. This trend is a durable operational improvement that reduces near-term financing pressure and supports survival while strategic options are pursued.
Narrowing Operating LossesSteady improvement in EBIT over multiple years suggests the business is making structural progress controlling costs or optimizing operations. If sustained, this reduces required future funding and increases the probability of reaching cash-flow breakeven within a medium-term horizon.