Well subscription revenue is growing at the rate of 60%,...

Well subscription revenue is growing at the rate of 60%, according to the half-yearly. New product are given for free and now they will start extracting payments, and then y = f(120x) is the minimum revenue they can add each year, x is the number of subscribers they've got on these free products which lapsed in Dec 2020.

A lot of the expenses did incur while hiring people, compensating them with share based payments. Nothing there.

At the same time its cost of customer acquisition is quite low. No point booking in profits right now.

Typically you can see these business delivering high margins and they are in margin expansion as well.

10% of its market cap is just cash at bank they have. No debts. No capital raise during pandemic.

So yah, looks good for now.

$4-$6 is more its fair value zone, so it really hasn't attained growth stock valuation yet.