Ongoing Net LossesA persistent TTM net margin around -13.1% reflects ongoing unprofitability. Over months this erodes retained earnings, limits reinvestment capacity, and increases the probability management must seek external capital, which can dilute shareholders or constrain strategy.
Gross Margin CompressionSharp gross margin decline from ~59.7% to ~47.7% materially reduces profit potential and resilience to cost pressures. If structural (mix, pricing, or cost increases), this undermines the pathway to sustainable operating profits despite revenue growth, pressuring long-term margins.
Negative Returns & Limited LeverageA TTM ROE of ~-17.9% shows capital is not generating positive shareholder returns. Coupled with low EBITDA margin (~5.3%), this indicates limited operating leverage: revenue gains may not translate into meaningful profitability without structural margin improvements or cost discipline.