Cost And ProfitabilityGross loss of ~($10.9M) came in worse than anticipated, driven by increased costs associated with product revenues and higher generation cost of sales.
Financial EstimatesAnalyst has lowered the FY2025 revenue and adjusted EBITDA estimates, reflecting a more conservative ramp in product sales given uncertainty post the US election results.
Market UncertaintyThere is near-term uncertainty, leading to a HOLD rating despite the upside implied by the price target of $12.00.