Advanced Payments FeaturesTHNC will be launching advanced payments features, such as invoicing and group orders, which it believes may help drive better Commerce adoption by Plus customers.
Commerce PenetrationCommerce (payments) penetration expanded to 52% of GMV, up from 47% in Q3/24.
Valuation And Cash FlowThere is limited downside to the share price given THNC's depressed EV/sales valuation and the fact that THNC should now be able to sustainably generate positive FCF.