This is the reason to believe they'll stagnate: "We have incurred operating losses in the past, expect to incur operating losses in the future, and may never a

This is the reason to believe they'll stagnate: "We have incurred operating losses in the past, expect to incur operating losses in the future, and may never achieve or maintain profitability." Sooner or later, you run out of other people's money, and businesses which have no plan to be long-term profitable should not be.