Depends on Definition

The forces of the Ukraine still could win, if we consider victory not permitting Putin total conquest. The problem is that after the unnecessary and ill-considered offensive that Ukrainian forces undertook under Western pressure, they have lost half of their professional soldiers with their most elite units (with the exception of Zelenskyy's personal security detail) the hardest hit. It will now be a close run thing to see if Kyiv has sufficient forces left to retain the territory it is now in control of because fresh, minimally-trained conscripts are no substitute for experienced combat veterans.