@Noddy74 very interesting point on the cost base. I agree the messaging has been mixed, but I think it is more confusion over exactly what costs are "fixed". Look at the result, the increase in the cost base was entirely attributable to increased cost of sales in servicing a doubling of revenue. Costs within management's control were essentially flat:

Nonetheless I actually think management are adding some growth costs to the OPEX base (job ads on LinkedIn certainly suggest that) but for me the fact management showed they had the ability to double the business post-Covid while stripping costs out justifies this. Many businesses claim underlying scale or profitability but never show it!