Well presumably they give money to Apple. That could have been structured as a lump sum putting costs up front. Plus you've got marketing and stuff. Then youve

Well presumably they give money to Apple. That could have been structured as a lump sum putting costs up front. Plus you've got marketing and stuff. Then youve potentially got referral fees for 3rd parties, and perhaps introductory bonuses/gifts/cashback that could be treated as a cost of acquisition If the fixed costs arent amortized over enough customers it can build up.