I think you have to take a look at their business beyond one...

I think you have to take a look at their business beyond one quarter because the US business revenues tend to be skewed to the quarters ending in Sep & Dec (well Dec is make/break).

For FY2024 they were $5m cashflow positive because they brought in $15m in that Dec quarter. It would be good for them to pay back the loan they have, but between investment which grows top line at 25% per annum and gross profit at a similar rate (hopefully more if they can improve margins), then to me it seems appropriate to make that $10-15m investment especially if it's funded from growth and puts them in a stronger position against competition (especially given the scale of the market in the US and also how they have managed to expand into adjacencies in Australia)