It is interesting how hard you have to look in the wealth of materials produced by Afterpay today to uncover how much money they are losing.

Total loss (including currency losses) of $190m, vs $40m last year. Revenue is a totally different story, $924m vs $519m last year. Clearly the company is going all out for global land-grab, and with their soon to be new parent Square I can't see what is going to stop them. Already 10.5m of their 16m customers are in the US, an increase of 88%, with 2.1m customers in the UK, an increase of 104%. The UK should soon outstrip the 3.6m customers in ANZ, and the company has set its sights on four new countries already: Canada, Germany, Spain and Italy.

With global expansion opportunities, product diversification into the Money app and the Afterpay Marketplace, the sky seems to be the limit for this company if you ignore the little matter of profitability. It is claimed that the ANZ market is already profitable (EBITDA $195m), the implication being that the US and UK will inevitably follow suit.

With 100,000 merchants signed up, the attraction for Square is pretty obvious.