I also share your observations. DSE's report showed that Advertising, Staff and Operational costs have gone up.
imho...I reckon some of it could be due to an increase of Developers/Product Managers/Testers ... after all....they did release the Gov backup and Quickbooks products not so long ago. When I looked a few weeks ago, they seem like they're still looking to expand their team in US and Indonesia. I like how they've got a material part of their team in Indonesia.
Meanwhile, all the 'unpredictable' M365 updates by Microsoft this year - means DSE's gotta to pedal faster to keep their bread-and-butter M365 on-line backup/archiving up to date.
I also share your observations. DSE's report showed that...
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