"I am now questioning management's ability to create a profitable business"
You seem to be forgetting that NEA is not just one business. The ANZ operation was the first of its businesses and is extremely profitable with very high margins which are still rising.
The NA operation is much newer and is therefore not yet profitable. Because of its size it makes the whole enterprise not yet profitable. The ANZ profitability is the guide that gives investors confidence that the NA business will become as profitable as the ANZ one.
So, IMO NEA has a profitable business model.
NEA Price at posting:
$2.89 Sentiment: Buy Disclosure: Held
