David Williams on Talk Ya Book with Chris Judd, page-28

Well not all expenses are the same, and I would take issue with your claim that they are currently "out of control".
When we get the FY22 report in a couple of months we will have a better idea on where those expenses come from, how much is interest, rent and operating expenses for the premises, raw materials, how much is R&D, how much is salaries and how much is reimbursement for travel and other employment related expenses and so on. That gives a better idea on what the potential operating margin might be as revenues grow while many expenses hopefully will remain relatively fixed.

DW does tend to gloss over some of the expenses when he claims a 95% margin (5% is costs and the rest is profit"). Obviously that isn't the whole story, but plowing back revenues into growth is the right thing to do IMO. I'm interested to see Kickit2Me's next points on the revenue graph after the FY update so I can get a better idea on when we will see $90m in revenue.