[plorkyeran]

Except for the part where even if you ignore the sales and marketing expenses they're barely breaking even. They're failing to make software for less than they can sell it for, and perhaps some of those hard problems which took 50 engineers to solve would have been better to have gone unsolved even if they lost some sales as a result.

[chrisco255]

That's normal in a SaaS. They gear everything towards growth in revenue, not necessarily profit, since it's much easier to keep existing SaaS customers (most good SaaS have 95+% retention) than to earn new ones, and at a certain point you've got a flywheel going so that you can perhaps reduce headcount increases or stay flat while your revenue continues to grow, and then you coast into profitability from there.