Does profitability equate to paying back all the VC money burned getting to this point? They were losing billions every quarter for a long time. I haven't looked at their quarterlies in a while though but Id be surprised if they were remotely right-side up.
No, because the VC money is equity rather than debt. Profitability doesn't include "make sure the owners get some cash." It just means you made more money than you spent this quarter.
Investment rounds aren't loans, they're... Investments. You're selling them a stake in the company, not borrowing money. I'm sure there are exceptions but that's generally how it works.
