What does exponential regression actually calculate?
Exponential regression calculates the values of a and b in y = aebx that make the curve pass as close as possible to every point in a data set, in the least-squares sense. Instead of guessing a growth rate from two points, it uses every point at once and finds the single curve with the smallest total squared error.
The output is a full equation, not just a rate, that can be used to predict y for any x, inside or slightly beyond the range of the original data.