I was also looking at another (microcap) software company today : Prophecy (PRO).
It is another one which looks quite cheap with an EV/ARR of 1.9 x.
However, I am not really convinced that it is interesting now : despite another strong increase of their ARR (+ 20 % yoy), the company still expects an EBITDA loss in FY 24. In its update for 9 months, the company indicated a significant increase of its cash compared to December 23, but it may only be due to seasonality, as the company has a large level of annual subscription renewal during Q3.
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