I agree with the sentiment.
It is worth pointing out that (if memory serves) Wave has actually hit operational CFBE during a few quarters. The one I am thinking of in particular is the one during which they received the larger GM payment.
It hasn't ever made a quarterly profit. This is because the way accruals accounting is done, income and costs are spread out over the term of the contract. Being a person who thinks accruals provide a useful view, I concur with the notion that Wave has - with great consistency - performed poorly. There was, however, a period of hope when revenues were growing and the bottom line was not significantly negative. Unfortunately, that period was brief.
News 
Market Data 
Discover 
