Yes if you ignore all the reasons why they’re horribly unprofitable, they’re profitable.
R&D costs are hurting profit side and while you can cut that one just becomes irrelevant overnight in this space if you do, hence the problem.
> R&D costs are hurting profit
That’s quite the hot take, considering it’s literally an R&D company that got to where it is by doing R&D.
Not to mention they will need to research how to make their models faster and cheaper to run in order to fit some margin within what people are actually willing to pay.