> True exponential growth is possible, but I suspect is rare, because the expenses can also compound
If you have an exponential (revenues) and another exponential of smaller rate (expenses; assume you have profit) then the difference is still an exponential.
Plot the graph of 2^x - 1.99^x to see what I mean. It stays close to the axis for a while and then suddenly shoots up. Follows the trajectory of quite a few companies now that I think of it.
If you have an exponential (revenues) and another exponential of smaller rate (expenses; assume you have profit) then the difference is still an exponential.