The Bear Room, page-3026

It's hard to know. I still reckon they don't have any money to do anything - have a look at that restricted cash - 97% up in a year, while receivables are down 7.4%. BNPL is going to keep on having problems with regulators everywhere and that will also stifle growth. They may have the advantage of harnessing their database and earning off it other than from BNPL or credit regulated loans, but they are in a sea of competitors and will most likely remain small unless they get a chunk of money or come up with a new business plan. They will need to be taken over or get their hands on some serious bucks to grow IMO, but there is some trouble in store - when the rate cuts come through, as they are guaranteed to - it could coincide witha market correction, consumers shutting their wallets and bad debts rising as the economy bites.

This is what they reported as their profit and they got there as they needed to:

Brief Explanation of the Above Figures Please refer to the Review of Operations for an explanation of the results.

The profit for the consolidated entity after providing for income tax amounted to $3,657,000 (30 June 2023: loss of $377,015,000).