Cash GenerationMaterial operating cash flow and positive free cash flow provide durable funding for content investment, product development and marketing without relying on equity raises. Strong cash conversion supports strategic flexibility and bolsters resilience through game/content cycles.
Revenue And Margin ImprovementSustained top-line growth with improving gross margin and a move to positive EBITDA indicate scalable monetization and better cost control. These structural trends suggest the business model can increasingly convert engagement into durable operating profitability over the medium term.
Large, Engaged User BaseHigh and rising DAUs/MAUs, strong paying-user growth and very high daily time spent reinforce network effects and content stickiness. A deep community increases ad yield, VAS conversion and cross-selling durability across games, live and e-commerce over many quarters.