Ann: March Quarterly Activities Report, page-74

It's funny the reaction to this. They're a new finance company.

Compare, SQ2 - since the sale their bad debts have gotten way worse.

disallowed/business/banking-and-finance/afterpay-posts-huge-loss-as-bad-debts-mount-20220412-p5acvr.html

And people are dropping IOU like a hot stone? It makes no sense.

Compare afterpay's 2016 performance - their net transaction loss was higher, 0.9%. They had about 7 times the unique customer base at the time although their revenue per unique customer was much lower.

https://www.asx.com.au/asxpdf/20160825/pdf/439m2kgkdkbcjw.pdf


Again, people are flipping out over this announcement but it doesn't seem to me to be bad news.


Maybe someone can explain it to me as if I was a 12 year old, because I thought the "IOU" hype was due to the "BNPL" offering, which is growing and seems to be performing well. I'm not getting it.