i dont think cashflow breakeven is the catalyst by itself - if...

i dont think cashflow breakeven is the catalyst by itself - if you look at SKF they have been positive for a couple of quarters now and its made no difference to the SP

the kicker is 'anticpated' growth - the faster a business is perceived to be growing (or able to grow) the higher the SP relative to current revenue

some may call this 'hype' or 'narrative' - but it usually has something to do with what is easily understandable scaling

SE1 is a pretty complex - multi-stringed - behind the scenes business - with lots of dependencies on other not easily understood businesses - so it makes it hard to see how fast things can grow

not sure what it takes to get out of that bind except some massive orders coming through