30 months invested = 30% loss in LVT, page-2

LOSS of $116.0M over 5 years - ARR has grown significantly in the past few years. It costs money to make money. They are nearly cashflow positive and hovered around cash flow net 0 quite a few times in the past financial year. This is typical of tech companies as it costs money in R&D to develop a product, once built, it is literally a gold mine in terms of margin (if it is a desirable product).

They're still not hitting 1/4 ARR targets... clearly no focus on cost - They reduced their operational cost by ~34-37% whilst growing ARR in the past FY. That is an impressive achievement despite COVID restrictions hampering enterprise sales. They clearly care about being cashflow positive to reduce their reliance on capital raises and this is a good thing. Your comments made no sense in light of financial data that was just released.

From the financials directly:
Sales & Marketing
FY20/21 (15,399)
FY19/20 (24,628)
Reduction of 37%

General & Administration
FY20/21 (13,856)
FY19/20 (21,060)
Reduction of 34%