The version of the article on the signpost lacks the table of figures, if you go to the version on his user page, it paints a clearer picture [0]. idorosen has posted a table on the root thread which adds a column for the expense ratio (1 minus the margin) and it's getting much higher much quicker [1].

[0]: https://en.wikipedia.org/wiki/User:Guy_Macon/Wikipedia_has_C... [1]: https://news.ycombinator.com/item?id=14287495

idrosen is pretty clear these numbers aren't that scary, though.

Well, try to draw a trend line through the operating margin and tell me it's not that scary. I think that it's pretty scary if your permanent, ongoing financial commitments are growing to match your revenues. This way, you have no cash to react to intermittent expenses or R&D. And let's remember that Wikipedia is already doing more donation drives than ever.