MAU - the key metric proffered to value this company - actually (unbelievably) decreased this quarter. Went from 4.8m in Q2 to 4.2m in Q3, a 13% decline. To use a PCP comparison in an attempt to hide this is offensive to investors. The PCP is not a fair comparison as the Red Tricycle acquisition was still in progress.
For the first ever time, the company fails to report the number of Registered Users. Wonder why ...
Can understand advertising revenue seasonality, but how to explain the reduction in users?
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- Ann: Third Fiscal Quarter 2021 and 4C Cashflow Report
Ann: Third Fiscal Quarter 2021 and 4C Cashflow Report, page-2
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