[roncesvalles]

Many companies with O365 used other platforms for voice and chat. Otherwise products like Webex and Zoom would've had zero market share since virtually everybody who pays taxes has an O365 (thus, Teams) subscription.

Also consider, Teams for Education as a market segment basically didn't exist before COVID.

My point is, many organization had a Teams license but never really pay attention to it until COVID. Which was another problem for Microsoft because although op costs for Teams went up like a hockey stick, they weren't monetizing that growth until a bit later.