>Your commentary is out of the iou playbook is it?
No, the IOU playbook is to focus on BNPL which I think is a mistake. I agree with you that they should talk about the big picture, but, then, investor sentiment relies on "muh BNPL" .
>It's an asset, it's underperformed to date,
Define for me good performance for a year old finance product.
Kev:
>You say they are not losing money on Bnpl?
You have to spend money to onboard customers.
Ref to :
https://hotcopper.com.au/documentdownload?id=uOMxKKzFkiWRTLKhOROKAxjvSTYO5ge0zhWZofFgke92GA%3D%3D
They reported in this quarterly that they were going to double staff costs, nearly triple advertising costs. They had 19 million cash in hand and reported that they were going to spend 31 mil, despite operating at a ytd loss of 8 mill. Were people freaking out about the spend?
They spent 15 mil to lose 5 mil that quarter, apparently.
And this is a company whos *only goal* is to make money through BNPL. It costs!
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- Ann: IOU Provides Mid June Quarter Update on BNPL Business
Ann: IOU Provides Mid June Quarter Update on BNPL Business, page-106
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