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"returned to profitability" is a correct and usable phrase in written English.
You can use it whenever you want to refer to a time when a business or organization has become profitable again. For example, "The company returned to profitability in 2020 after years of difficult times."
Exact(58)
Knutsen's efforts bore fruit in fiscal 1994 when Bang &Olufsen returned to profitability; the profits have risen ever since.
By 1987, Fluor had returned to profitability with $26.6 million in profits and $108.5 million by 1989.
LONDON — The oil giant BP returned to profitability with a better-than-expected third-quarter profit, prompting it to raise its dividend.
Another big insurer markets were watching closely, Lincoln National, also returned to profitability in the forth quarter and beat analyst profit predictions.
Belgium's postal service returned to profitability soon after its part-privatisation in 2006 and it now enjoys profit margins of 17%.
But Ford returned to profitability in 2010.
Yet within two years, Bridgestone returned to profitability.
Alcatel returned to profitability in the following years.
After a painful crisis it has returned to profitability thanks to robust economic growth.
Loan losses are easing and all the large banks have returned to profitability.
CBS returned to profitability in 2009 -- $227 million -- after a huge write-down in 2008.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com