Elon Musk has admitted that Twitter is still in the red after a massive 50 percent drop in advertising revenue and heavy debt from the past.

Twitter has reached an all-time high in “device user seconds usage,” and almost all the advertisers who left have “either come back or they said they will come back.”

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Still, the company is financially weak as several advertisers are yet to return to the platform after ditching it post-Musk takeover.

“We’re still negative cash flow, due to a 50 percent drop in advertising revenue plus heavy debt load,” Musk said in a tweet.

“Need to reach positive cash flow before we have the luxury of anything else,” he added.

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