Cash Flow ConcernsDespite cash balance of $744mn, ongoing cash burn remains high.
Engineering ChallengesAcknowledge risks factors including a lack of revenue, the need for future demand to support existing backlog, softer engineering catalysts over the medium term, and potential for build, testing, or safety delays.
Revenue RisksConsidering considerable risks given minimal revenue generation, negative cash flows, consumer discretionary risk, and limited commercial flights.