I think you are right. Keeping up with progress and comparing to last year is very difficult, but in my mind it is also fairly useless particularly given the quite extreme set of circumstances that would undoubtedly be delaying sales. The retention rate is certainly reassuring though.
essentially we just need to decide about whether they are tracking towards their 1 and 3 year goals.
by the end of 2021, they are cash flow and ebitda positive.
by 2023 revenues of 100mil and ebitda of 20mil.
then decide what chance you give them. given the tailwinds with worldwide focus on climate, pollution and data, and their comprehensive platform, I think they are certainly in with a very decent chance.
and if you’ve got a profitable company in 2 years with Forward revenues of 100mil, growing at 20-30%pa into an infinitely large tam, then I suspect this will be closer to a billion dollar company than 1 hundred mil.
In the mean time they have a very healthy balance sheet (>20mil net cash I suspect), and so I think the chance of further raises are low.
EVS Price at posting:
16.0¢ Sentiment: Buy Disclosure: Held
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