Persistent Cash BurnConsistent negative operating and free cash flow forces dependence on external financing or reserves. Even with some improvement, ongoing burn limits runway for commercialization and R&D, risks dilution from equity raises and constrains sustainable investment in sales and regulatory initiatives.
Deep, Structural UnprofitabilityNegative gross margins indicate unit economics that don't cover direct costs, not just overhead. Structural unprofitability undermines scalability: unless pricing, cost of disposables, or utilization materially improves, the business cannot convert revenue growth into sustainable profits.
Small, Volatile And Declining RevenueDeclining and volatile top-line curtails operating leverage and makes recurring-revenue potential uncertain. Small revenue base limits ability to absorb fixed costs, slows margin recovery and heightens execution risk in commercial rollouts over the coming months.