I think they got it from Elon shortly after he took over, turned everything into chaos, and advertisers started bailing. That being said, he also appears to be a pathological liar, so he could just be making it up on top of that.

But yes, this notion that Twitter was just hemorrhaging money seems flatly false and easily disprovable. I haven't read the financial statements in a while, but when I last did I indeed saw one of the few tech companies that was actually profitable.