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Their 2021 revenue is $12M. We don't know their 2022 revenue. Your numbers are just wrong. Source: https://www.sec.gov/Archives/edgar/data/1783191/00016702542

• deleted 3y ago
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• chrisbolt 3y ago
  From your source, their 2021 net profit was -$6.5M and their 2020 net profit was $1M. They seem to be mixing the $24.6M in negative cash flow for 2021 with the $1M in net profit in 2020? Doesn’t make any sense.
  • Gareth321 3y ago
    Valuations in tech haven't been based on profit for 25 years now. It's all revenue and user growth.
• m_ke 3y ago
  Yeah sorry about that, I was just repeating something I heard on a podcast and it looks like they assumed that was top line revenue and took 10% of it. I’d edit the post but it’s too late to do so. https://news.ycombinator.com/item?id=35534035 https://news.ycombinator.com/item?id=35534035