Modest ProfitMarket Capitalisation is greater than ARRMixed...

Modest Profit
Market Capitalisation is greater than ARR
Mixed messages on strategy (until recently)

How much further runway do they have in growth and profitability? I.e. what's the "best" situation they could hope for in 12 months?

One interpretation is that they'll continue organic growth to beyond $45m ARR (my guess) and start spinning off cash in a virtuous cycle over the coming 12-months now that they have consolidated the various tech. That's what their report seems to imply.

Another interpretation is that the (previously profitable) acquisitions are now just part of a barely breakeven dogs' breakfast of a business that will struggle to grow either revenue or profitability in the absence of further dilutive acquisitions.

Their last report has me leaning towards the former (just) but not exactly a slam dunk. Could be a bit of tax loss selling up to June 30 but a positive update (especially after that date) might lead to a bit of a rerate.