Cash Flow Challenges3Q free cash flow was -$24M and they ended the quarter with $135M in cash, down from $206M at the end of last year.
Equity DilutionThe company announced a $200M at-the-market equity program to support its cash balance, presenting major dilution risk.
Revenue RisksThe gap between U.S. retail shipment volume and Nielsen volume, along with reduced top-end revenue guidance, reinforces downside risks to revenue.