I’m a huge believer in CV1 because the macro environment favours...

I’m a huge believer in CV1 because the macro environment favours their business long term. The change in the last 2 years to requiring background checks etc. pre-employment has been profound across almost every industry.
But I do concede there will be headwinds in the immediate short term as hiring dips.
Whether the momentum in the business carries through to cover costs during this time is still an open question, I think. They are/were very primed for growth, but if hiring declines they won’t realise the annuity revenues they reasonably predicted.

It would be good to get some guidance if they are able to cut a little out of fixed costs - e.g. it would be great if they can underwrite a portion of the wage bill via the newly announced wage stylus package so they can keep all the staff ready to capitalise on a pick up in the employment market.

We don’t know how impacted hiring is, but I assume severely. But this will be off-set somewhat by employment churn as some clients ramp up hiring. People laid off also means new hiring takes place when things get back to normal.
I’d also note there is probably enough lag in the process to carry them through this quarter, and client companies will be incentivised to do things like implement new hiring API access and other projects that are low cost and low impact as some of their day to day pressures disappear with reduced business activity. The people involved in this sort of work (IT admins/HR project staff) will be keen to progress stuff like integrations etc. to justify their roles when corporate are looking around for who to cut.

A V shaped recovery will be extremely lucrative for CV1, I think.
And I think the bad news is well priced in, barring further unexpected disruption. I have been buying all the way down, but am now out of cash. Really wish I had more cash on hand for this opportunity, though I am holding more CV1 than I probably should!
I remember the line that you don’t get many sweet free hits. I think in ten years when this is an $8 stock I’ll be complaining about how I didn’t buy more.