Ann: Review of 2019 and Outlook, page-7

It does, but you have to read between the lines...

Advertising revenue of $3.5M: By my calculations, that was at $2.6M up until Sep 30. So Dec quarter advertising revenue is looking at around $900k, up 5% on previous quarter and 22% on p-c-p.

Monthly active users: 1.36M. Up 80,000 on last quarter, that's one of the better quarters they've had (average is about 65k a quarter for the last few years).

Registered Users: 3.6M+. We were at 3.55M at Sep 30 so presumably they've added somewhere between 50-150k. At the upper end of that range it would be below average (normally closer to 200k) but this isn't up until the end of the quarter, and it's not a very specific number.

So it looks like it has been another solid quarter, still not seeing a growth breakout on any of the metrics, but at least none of them look to be going backwards. Still a lot of unknowns in there, it's a concern if the registered user growth was closer to 50k but we won't know that until the detailed figures are out. I would also have expected to see a bigger jump in advertising this quarter, given it's the Christmas season, so while it's good year-on-year growth, 5% on the quarter seems pretty mild (compare to 2018 when it went up 80% in the December quarter)