Ann: Xref sustains cash flow profitability whilst growing 40%, page-3

They disclosed both revenue and expenses (neither are disclosures they are required to make in a 4C). Just subtract one from the other and you get profit if that's what you're interested in. They also reiterated forecast profit for FY22, which is a disclosure a lot of companies in their position don't make.

Personally I think there is far too much focus on the P&L. I'm much more interested in cash and this is where the XRef operating model is interesting - the cash they bring in an advance of credits being used is analogous to the float an insurance company generates (and is the main reason why Buffet likes insurance companies).