But fundamentally, there's not really much down side at this price IMO. Given the business is growing and expenses relatively fixed at scale, I see it fit to value it on a price:GP ratio of 40, so, with only 60k beds you would come up with $0.09 diluted. Currently a buy IMO, upside outweighs the downside.
The exception to that is the product is not liked, the RC is unfavourable, and churn is massive beyond the government grant. I think that is an unlikely scenario.
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