Livewire article on ZEN, page-54

The thing is I bought WND way too early, as I didn't fully understand their business model. Because their projects take forever to complete, they'll fluctuate between profit making and loss making years all the way until they have 12+ projects running. Thereafter, their cashflow will become steady meaning they'll no longer be affected by lumpy revenue.

Their biggest problem at the moment is that their ARR isn't high enough to cover outgoings because they're still in their infancy. Once they're mature, this shouldn't be a problem. Long term though (5-10 years), they should thrive (hopefully)...