Gross Margin ImprovementA sustained swing to ~65% TTM gross margin from prior negative levels indicates structural improvements in product economics, sourcing, or pricing. If maintained as volumes scale, higher gross margins materially reduce required incremental revenue to reach operating breakeven and improve cash flow durability.
Residential & VPP Market PositioningEguana’s core business—residential/small commercial storage and VPP participation—aligns with multi-year structural growth in distributed energy, solar-plus-storage adoption, and grid services. This market exposure supports multiple durable revenue vectors: hardware, services, and recurring grid-program income.
Prior Improvement In Operating Cash FlowRecording positive operating and free cash flow in 2024 shows management can materially reduce cash burn through cost control or better mix. While TTM reversed slightly, the prior positive year demonstrates the company can achieve self-funded operations under improved execution or scale.