Tekvest, you are demonstrably a disgrace and should be banned from Hot Copper for constantly posted misleading information and insult.
Here you are posting Afterpay 2022 results as its just announced results:
" There is still no institutional interest in ZIP and it will be interesting to see what happens after yesterday's big one. I'm with Eugene - I reckon things are going to get pretty tough and Block's latest Afterpay results in Australia are not pretty"
When in fact as, @jdon points out you are misleading again (thank you Jdon):
"I think @Tekvest is referring to the BNPL hit piece in the AFR article from 7th Dec. The Afterpay results reported in that article are not "the latest". They almost 1 year old, covering the 18 months to December 2022. So they are way out-of-date.The limited Afterpay results from the latest quarter (Sept 2023) - that are reported in the article - show some promising signs. Afterpay losses for the quarter fell from an already low 1.01% to 0.84%. I would love to see losses get this low for Zip! Afterpay gross voume of transactoins rose 24% YoY to US6.7 billion......for 1 quarter!!"
(why do posters like @TB51, @jdon, @yourhero111 and I have to constantly check your comments to appraise other Hot Copper readers of your misleading representation?)
@jdon corrects more misleading statements from you:
"what I meant to say was...." thereafter anything on deaf ears. Changing your story as usual when caught out.
"The three directly variable expenses that change in line with revenue are transaction processing costs, interest on borrowings which relate to the UMS, and bad debts. The key is to make sure that interest and bad debts do not blow out." you of course focus on his common referral to fixed costs as static (he should of course have known you'd focus on that and said relatively static - he was keeping it simple for academic explanation. ZIP's outstanding debts of course went down unusually for the rise in revenues in a fin-tech company.
And of course after jdon tells you specifically ZIP's fall in bad debts for 2022-23FY, so you have no excuse to claim you didn't know, but you of course, exactly as I said above, you instead ignore and put up, AFR's:
'Afterpay’s bad debts climb, just like its costs'
Accordingly I remind you that in fact:
"In actual fact, the traditionally relatively static costs you speak of even dropped in places last year; bad debts dropped 34%, bank fees rose 13%, salaries rose 4%, marketing expenses dropped 61%, etc, etc, vs revenue growth of 16%" and cut and paste ZIP's FY2023 PNL statement to show you that your statement of:
" "All classes of expense increase in line with revenues. Bad debts may decrease as a proportion of revenue, but not sufficiently (yet) to make a case for a viable business. However, admin, sales and many other costs rise as revenues do, ensuring losses are maintained. IMO"
is absolute horse manure as shown by ZIP's formal 2023 FY profit and loss sheet - you having provided no data of course to back your statements - just some old and irrelevant AFR articles on Afterpay, misleadingly represented as "latest results" by you.
I warmly invite you Tekvest, to pick any of ZIP's RECENT accounting and financial reporting and make a comprehensive argument about ZIP's terrible business as you have been alleging now for many years on these forums...day in...day out.
Pull out your old accounting books over the weekend, actually go through ZIP's financials and give us pause for thought with your analysis. No one wants a confirmation bias echo chamber. Make a decent financial argument using your accountancy qualifications on ZIP's accounting. You should wipe the floor with me. I have no formal accounting qualifications like you.
(20min delay)