Ann: Investor Presentation, page-7

The company had a loss due to IPO costs and large expense from converting Noteholder debt into shareholders (which hit the Profit in 2021)
EPX has a deferred income model on Annual recurring revenue and contract value.
So they spend money to implement and build sales and collect revenue over 5 years . So the income and profit flows into future years . 43% increase in ACV per annual report 2021 (exceeded expectation)
It's a SAAS model so the income flows monthly locked in over 5 years ( like software companies do). So assuming they can keep growing sales the recurring revenue keeps growing while the fixed costs remain stable.
The company saves carbon (reduced electricity, coal use by defualt) so with governments worldwide mandating 2040 and 2050 net zero emissions every will have to get on board with this.