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Company was burning $17m per month with less than $300m in revenue... while growing at a slower rate than ramp.com . simply unsustainable.

What am I not understanding about your comment, 300m is 25m per month, so that sounds very profitable?

They spend every cent of the revenue they made AND the extra $17m each month.

Ohhhh, I misunderstood that in the same way. $17 is the burn (i.e. the net loss), not the expenses.

Their spend is $42m per month

Is there some relevance in the comparison to ramp.com or were you just mentioning it as an example?

its effectively their competitor

Oh right... for some reason I thought it was a crypto startup. Maybe that's another Ramp

yeah, thats https://ramp.network/ . Also called Ramp. I made the same mistake previously.