Originally Posted by chev7

I agree that the biz doesn't pass the sniff test and is likely unsustainable in current form, but there's no hard evidence that Jain lied when he said Bilt is "profitable." Of course, "profitable" is a bit vague. There's a report out that says Bilt achieved positive EBITDA in April 2022.

To me, it sounds like Bilt is profitable but only because Wells is taking a loss on the business by paying Bilt a large credit card customer acquisition fee and 0.8% of rent payments (per WSJ article). When Wells recuts that deal, Bilt probably won't be profitable anymore.