Yes they are a startup, backed by Naval Ravikant of AngelList. Let's say they pay an average of $100 per test (it's likely less) because of course the labs are not theirs, so they have no overhead for the equipment or the labs themselves. The number of tests they've run (2663 so far) have cost them a quarter million to date. Startup seed money is often in the 7 figures. The run rate of the business while they develop a business plan will keep them up and running easily through next year and beyond.
None of the conspiracies check out. I've seen speculation that they are the feds, they work for big pharma, and everything inbetween. The DEA, if they are only bad at their job, is on this forum and all of the others, monitoring the entire grey market for both peptides and AAS. They already know all of the CN suppliers, and they have ordered from them and know exactly how the process works. To say something like the scammers manipulating test results for profit at Finnrisk is a grand conspiracy to inform them or big pharma is the product of a little too much Netflix consumption and tin foil hattery. It's a startup that sees an untapped market. Whether they choose a subscription model (for the labs, us or both), or decide to accept advertising (as bad a decision as that would be), it still makes the most sense that they're accumulating data for now, like any startup would, to monetize it however they choose down the road.