In the latest period of Q4'25, NET's Gross Margin stood at 73.6%, reflecting a continued decline from its peak of 77.8% in Q2'24. Operating Margin was -8.0%, indicating ongoing operational losses but an improvement from the -13.1% low in Q2'25. Net Profit Margin registered at -2.0%, a slight worsening from the near-breakeven -0.2% in Q3'25. Over the period from Q1'23 to Q4'25, Gross Margin exhibited an overall upward trend initially, rising from 75.7% to a high of 77.8% by Q2'24, before declining steadily to 73.6% amid potential cost pressures. Operating Margin showed volatility, improving from -18.2% in Q2'23 to -7.2% in Q3'24, but fluctuating between -6.7% and -13.1% in 2025, highlighting inconsistent expense management. Net Profit Margin trended toward breakeven, narrowing from a deep -30.6% loss in Q2'23 to -2.0% in Q4'25, with notable recovery in Q3'25 to -0.2%, suggesting gradual profitability gains despite persistent negative territory.