Revenue CollapseRevenue effectively collapsing to zero in 2025 destroys scale and market presence. Loss of top-line demand erodes operating leverage, makes fixed costs harder to cover, impairs customer relationships, and materially lengthens the time needed to rebuild a sustainable, profitable business.
Persistent Negative Cash FlowConsistent negative operating and free cash flow signals ongoing cash burn that will require external financing or dilutive equity raises. That restricts strategic investment, increases refinancing risk, and reduces the company's ability to fund a durable turnaround internally.
Negative Shareholders' EquityShift to negative shareholders' equity in 2024–2025 materially raises insolvency and counterparty risk. Negative equity constrains access to traditional credit, undermines counterpart confidence, and signals accumulated losses that reduce the company's buffer against further setbacks.