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Which is why they're hurrying to get them done now, before things get bad?

It does seem like there are a number of them, but maybe that's just my impression. Anyone got numbers?

Also looks like they are already profitable, and growing like crazy.

EDIT: my bad interpreting the loss format, they are not profitable.

They're operating at a -25% EBITDA, so no they are not.

> We have incurred operating losses in the past, expect to incur operating losses in the future, and may not achieve or maintain profitability in the future

> We have incurred operating losses each year since our inception in 2012, including net losses of $(71.1) million, $(47.9) million, and $(195.6) million for fiscal 2017, 2018, and 2019, respectively, and expect to continue to incur net losses for the foreseeable future.

They've never been profitable.

Look at their contribution margins though. Especially on subs. Unit economics are, I guess unsurprisingly, fantastic on selling 2k bikes with a ~40$ monthly sub.

My mistake, I interpreted the $(...) values as being negative losses.

So does a major recession.