There is the option that they are profitable, but need the investment to expand the business somehow. There is some indication of that in the press release, but it does seem a little fluffy, and a $100M is a pretty big sum of money.

I can see what you mean, but another way of looking at it is: Most investments are done with the expectation of it being worth more down the line, so someone(s) thinks there are a hundred million reasons why it is a profitable business. :-)

But maybe "are they profitable" is the wrong question. I remember 5 years ago my brother in law said "Tesla isn't profitable" and I countered with "They don't want to be profitable right now, they are growing an inventory and investing heavily in that. Showing a profit is the last thing they want to do." He seemed to be accept that answer, I mean now he has 2 Teslas. :-)