I seem to remember that they were just barely making it on one measure, and failing heavily on another. Like, they were just barely cash flow positive, but had massive debts and weren’t turning a profit. Or they were turning a profit on paper but their cash flow was massively negative.

They’re always measures that can be gamed. Like, you can be cash flow positive if you sell a bunch of debt for cash. You’re temporarily cash flow positive but definitely not profitable. Or, you can sell a bunch of widgets and mark down the revenue, but since you’re still waiting to get paid your cash flow is negative. That can be deceptive if you know a high percentage of sales are going to be returned.