Nice straw from @Dominator, with a lot of valid points raised.
However, one can argue that the current price of the company (even after the 4x from last year's lows) already accounts for the sluggish, lumpy growth and industry characteristics, by awarding the shares a multiple that is considerably below the market average (around 13x now after the post-earnings pop). In other words, they can continue to expand in their smaller niche and clip the ticket on service/project revenues in the meantime.
The renewed board and management seem to have righted the poorly managed ship of years past, and the company seems to be gradually returning to the market's good books.
They are coming off multiple earnings upgrades in FY21, and while guidance is a bit tepid for FY22, there is scope for the upgrade cycle to continue as the year progresses with the new found conservatism shown by the current operators. The company's financial position is also sound with ~ 11m of net cash on the balance sheet.
