Do I read the decks properly, or do they have only 2331 subscribers for Q4 2021? This looks like a super low for such big valuations of their disruptive product.
That probably 1,000 scale. So the actual number is 2,331,000 subscribers with a very small churn rate, which is enough to sustain that business and valuation.
I'm assuming that is wrong. They laid of 2800 staff in Q1 and they all had subscriptions which were continued for 12 months as part of their severance.