At a price of $100m and net income of $8.9m, that would be a P/E of 11 and a dividend yield of 5.34%. Assuming limited net income growth, such as a large corporation such as Coca-Cola (KO), this is a great stock! KO is kind of the poster-child for a stable, terminal business (how much more Coca-Cola / soft drinks can the world drink?), and it has a P/E of 25 and a dividend yield of 3.1 %. But, in fact, Gumroad is likely to grow earnings (and presumably the dividend), so this is an even better deal.
In 2023: 20.7 M Revenue - 8.9 M net income - 5.34 M dividend
With no net income growth would take about 19 years for the dividends to pay out your original investment
Will be interesting to see the 2024 numbers.