In the 10-Q they reported $212M revenue … and $193M cost of revenue - which means their gross margin this quarter is only 9%
No, that line item in the 10-Q says “cost of revenue and operating expenses”
That’s a big “and”. Operating expenses, like the sales and marketing expenses shown, should not be subtracted from revenue to calculate gross profit.
This is a profitable company with positive earnings. After you subtract all expenses last quarter, you are left with $14 million of profit. This is called net profit, not gross profit.