As of Q4'25, NET reported a gross margin of 73.6%, an operating margin of -8.0%, and a net profit margin of -2.0%. These figures indicate that while the company maintains a strong gross margin, it continues to operate at a loss on both an operating and net basis, though the net loss has narrowed compared to previous quarters. From Q1'23 to Q4'25, the gross margin remained consistently high, fluctuating between 74% and 78%, showing operational efficiency at the core business level. Operating and net profit margins, while negative throughout the period, have shown notable improvement, particularly from mid-2023 onward, with net profit margin improving from -30.6% in Q2'23 to just -2.0% in Q4'25. This trend suggests that NET is gradually moving toward profitability, driven by better cost management and narrowing losses over the observed quarters.