Thank you for that table. Very useful. Really the company should...

Thank you for that table. Very useful. Really the company should be providing something like that in it's financial results, rather than just a comparison to 12 months ago. And a lot of spin

@EarlyRetiree Nice pic. I understand where you are coming from, but I am personally not as negative. The company does not have to shoot the lights out every quarter to justify the current market cap of only $275 million. If it can continue to grow revenue at even half the rates it has averaged in the past 5 years, we will do fine in the medium-long term.

For me, the original investment case is still intact. I still believe that online advertising can be highly profitable in third-world countries (as demonstrated by Zameen). And that FDVs diversification across multiple countries and regions mitigates the emerging market risks. They only need 2 or 3 "home runs" to be worth multiples of the current valuation. Even if they fail in most markets.

However, as always I would love to see things happen a bit quicker. I am concerned about the lack of growth in the Latam region in recent quarters. Plus they are definitely vulnerable in the event of a crisis in Pakistan, at least in the short term.

Still a long-term hold for me