[1] Due to macroeconomic condition marketing spend by companies is decreasing -> Lower revenue [2] New entrants in the social ad-tech market (Apple, Uber, Netfl

[1] Due to macroeconomic condition marketing spend by companies is decreasing -> Lower revenue [2] New entrants in the social ad-tech market (Apple, Uber, Netflix, Youtube, etc) take a slice of a shrinking market [3] Privacy regulations shrink market further So while they are still insanely profitable for their core business the growth story is over.