According to the company's presentation, for FY20, VOR has revenue of $11.5 mil, profit before tax of $1.4mil, and average annual revenue per client is $1mil.
It shows that VOR has a very, very concentrated clientele. There is a significant risk, that if a client decides to walk away, VOR will fall back to loss territory easily. So it is true that VOR is profitable now, but I would not consider it sustainably profitable.
One way to mitigate such risk is to grow and diversify the client base, either by acquisition of other companies in the sector, or by winning more contracts. Either way, it has to be fast, especially in a hot sector like cyber security.
From what I see, VOR is doing nothing like that.
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