How does Hello Games make money?

The title says it all. This game has received 7 years of free updates; this game is near unrecognisable from it's launch. But how do they make money?

Most games that I can think of that provide free content updates are:

Live service games (fortnite, halo infinite)

AAA studios with big revenue sources (minecraft)

For a limited time (sonic frontiers)

But hello games is small, the game not live service, the game is not big enough where I can see new sales alone funding the game, and the updates do not seem to be slowing down, I do not see people buying merch in droves), and they do not have other popular games to make money elsewhere (Joe Danger and The Last Campfire are not exactly money printing machines).

Edit: The updates are great, and I am very thankful that they are free, just curious about funding