I can only interpret that they are talking about logged in users with accounts. The users were logged out during the pre-IPO and that resulted in some double counting in their second post IPO 10-Q.

I was researching this because I asked myself a general question: "Why is the stock price of non dividend paying companies correlated to the performance at all?"

Ah.

Amazon is a good case study for you. Didn't pay dividends for a decade or more. Reinvested everything. Pissed off analysts. And killed it.

In that world as long as you can keep delivering growth, you're good. Miss once and you're toast.

> Didn't pay dividends for a decade or more.

Amazon has never paid a dividend.