Daily Price Movement / General Discussion, page-17961

@AlphaX, we are not going to know where the $900m of cash went ($600m was used to purchase 13% of their US operations) until we see Afterpay's FY21 financial statements next month. As at 31 Dec, Afterpay had $459m of cash and $122m of receivables financing debt. If this debt stays constant, then some of the cash will fund growth in the receivables book with the remainder going to cash on balance sheet. All of their operating expenses (including marketing) are more than covered by operating cash flow (excluding increase in receivables already mentioned).