This on-device media platform is attractive because of its business model, rapid growth (~115% in FY21), expanding margins, solid free cash flow generation and large market opportunity. Further, the recent share price sell off (it’s still below its all-time highs due to the the recent mini “tech wreck”) has created an attractive entry point for long-term investors. In this report, we review the health of the business, valuation, risks, and then conclude with our opinion on investing.