Flashing red light when trying to use my vacuum

I am getting a steady interval flashing red light when trying to use my vacuum. (I stopped counting at 25 consecutive flashes.)

It properly charged during its last charge but will not function. My instinct tells me this may be a battery issue as I'm sure it's reached its maximum charge/disbursement lifetime.

I also notice that if I plug it in to charge now, I get the same flashing red light. It has not been dropped or anything else.

Is a battery the correct component I should be eyeballing?

Many thanks!

Kim K.