A bit of analysis here on the last release. Transactions up 4,2% since last month which compounded 12 months give a projected growth fro next year of 65% assuming they can keep a 4% growth rate month over month.
What rings an alarm bell here is the growth of Net bad debts. In fact if we assume this gives a 6% compounded bad debt rate. Which means 6 every 100 customers, which given the marginality of teh transaction at 4%....would make the business model under tremendous pressure.
Just IMO DYOR
Ann: May Trading Update - Another Strong Month During Covid, page-54
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