The headline number is disappointing with revenue down from...

The headline number is disappointing with revenue down from $7.3M to $6.7M. However, as the report states currency contributes $0.55M to this and the conversion of one of the customers from a one-off annual license to a subscription in December 2020 cost another $0.4M in H1. Without these impacts revenue would have increased to $7.65M (an increase of approx 5%).
Most of the revenue loss was due to a poor performance by snare - the security software arm. Emite, the contact centre analytics division, had a strong performance. Emite ARR has increased from $4.3M to $5.9M. Additionally, emite gained its largest ever customer in January 2021 (just outside the reporting period.
Software companies often sell at multiples of 10 x ARR. The scalability of emite is a very strong aspect of Prophecy. Do your own research but I believe the consistent 30-40% growth of emite ARR justifies a valuation of 10 x $5.9M = $60M = approx $1 per share. The market identiftying such companies is patchy but we have seen the sudden growth of rent.com.au and intelliHR recently when they have been discovered. Hopefully the market fully appreciates the potential of emite in the near future.