I did a post on this back on the 28/04/22 in post 61078083....

I did a post on this back on the 28/04/22 in post 61078083. Starting from Jun-20 onwards revenue per subscriber went from $13 -> $17 and subscribers have increased from 192k -> 540k. Billing service providers will eventually plateau since there's only ~600 service providers in the world. Plus I'm not sure if they'll ever get a share of say Kazakhstan for example so you'd have to reduce 600 by a certain factor. The fact still remains that they are growing double digit % subscribers YoY and therefore revenue by a similar %. TBH it's when they STOP growing that it woud be a concern.