Persistent Cash BurnSustained negative operating and free cash flow means the business cannot self-fund near-term operations. Continued cash burn forces recurrent external financing, increasing dilution risk and constraining investment in clinical validation, commercialization, and hiring needed to scale.
Declining Recent Revenue And Deeply Negative MarginsA meaningful recent revenue decline combined with extreme negative net margins signals fragile commercial momentum and operating cost structures misaligned with current sales. This undermines a clear, near-term path to breakeven and increases pressure on strategy execution.
Small Scale And Equity VolatilityA small revenue base and volatile/negative equity amplify execution and financing risk. Limited scale reduces bargaining power with partners and payers, while past equity volatility raises likelihood of future capital raises and shareholder dilution, hampering long-term value creation.