Why don’t I seem to get profitable in my business no matter how much revenue I make?

For most of my business life, I’ve earned about $1.5M in revenue. This past year, we broke the $3.5M mark, and we’ll prob end the year at $3.6M. And, yet, I am not making any more money and am not any more profitable. I hired a COO this past year, and we’re paying him about $200k a year + he vested an interest in 15% of the company at the one year mark. Everything seemed great, until this past October when he and our CMO made a decision to switch our FB ad agency and did not handle the transition well, costing us a lot of money + we’re still not back to generating the leads we were, which will cost us our profit this year. It seems to me that I am somehow causing this, but why and what is there for me to see/learn here? Thanks for your input!