I founded a company and reached $6M ARR with >50% net profit margin. After 4 years decided to do a full rewrite. Finished it successfully within a year including full migration of all clients. Was the best decision ever.
Not op but I would say that profits are only one part of the equation. If you have massive profits and you don't put resources in other areas (HR, engineering, etc.) You lose sustainability and might stall and die eventually. It's a tradeoff between long term sustainability and short term money making IMO
Congratulations. It reads like you were in control, the driver seat and into the code base. What I want to say is that I consider a rewrite possible because you controlled most /all aspects.
Currently we are moving from several ERP instances/configurations due to acquisitions to one completely new ERP version and architecture. This is a huge project consuming enormous resources and needs a director reporting to the CEO.