SPX receive circa 1.4% transaction fee
On 4.2m it's only $58,000 quarter which to be honest is an embarrassment given the spruiked $235m in targeted payments and announced last Q $150m in new payment flow and possibly another $100m none of which have transpired, it's called misinforming the market with BS guesstimates
Stop reading about % growth off such low numbers, it's meaningless
This software generates a measly $20,000 month in fees, that's it
As for the lending, the DW funder will be taking a big clip from the "value" of the underlying invoice/ stock/ purchase order along with charge SPX a rate for risk, along with a floating charge over the loan book and last in, first out position, so any bad debts reduces the cash held by SPX and squeezes the funding line ongoing
it can't turn a profit on $50m ...no chance
This business is a joke and worth less than .001c cent per share and that's being generous imo
They need closer to $200m DW to turn a profit otherwise they may as well close the doors, but why would they want to stop the $500k month in gravy wages while they can keep bleeding the business
95% of the revenue is not recurring that's just another made up fallacy - Loan income is NOT ARR
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