Compare this to similar fintech Axsess. They are growing at...

Compare this to similar fintech Axsess. They are growing at similar rate, however, their costs are increasing far slower than their interest generating revenues, and are able to pay a dividend.

Would think a fin tech would be using its 'technology advantage' to reduce the bad debt vs revenue.

So in summary:

Positive: - consistent high growth in revenue and loan book, high market opportunity in unsecured loans, high revenue vs loan book.

Negative: short loan duration / high loan turnover / costs increasing inline with revenue / very high bad debt, no clarity around true COGS or cost breakdown.