Objective Analysis: Psychology of using BNPL, page-162

@PigsMightFly is arguing the actual nett income received by the company.

Processing fees, bad debts and finance costs are all directly attributable to customer transaction values.

So for the half year the actual nett income is only $108 million

It appears that they include late fees as income regardless if they are collected or not

The employment costs and ridiculous other operating costs produce the nett losses.

i need to do am exercise but at first glance the business is not scaling as operating costs are not reducing sufficiently as a percentage of income.