This business is burning through cash losing millions every quarter. I can't imagine what they are spending that much money on, but it's a lot more than anyone else comparable in the industry is. At the end of the day this business is some servers, an app, support staff and some accounts. It doesn't need to spend this much.
International travel won't be back until next year, so these guys have a lot of pain ahead.
Ann: Quarterly Business Review and Appendix 4C, page-5
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