To an extent, this is the impact of competitors as well....all fine and well to dismiss some of the rivals as garbage platforms...and some of them are...but every time new rivals pop up or lower their offer SWF needs to spend more money on ads and promotions to convince new/existing members their platform is better.
I'd be surprised if $1.8m is the end of it either with competition only heating up since the start of 2022....there is also recognition of the increased head count across a full half as well.
The "update on Q3" in the other announcement talks about client retention as a focus...yet also gaining market share in a competitive environment...does this also lend weight to more spending?
To an extent, this is the impact of competitors as well....all...
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