First, there is a question that hasn't be raised. 60% is an incredible market share. Brilliant. If they are on 60% market share and have $5m annual revenues (obviously not all of that is RAC), but to capture the whole market is <$5m additional annualised revenue.
I know there is the argument that there is bigger opportunity overseas, but it hasn't happened so far and there will be less privilege and support in general for those markets.
The adjacent market is worrying as there is a little to no traction.
Unless revenue figure post a 500% increase or above, there is no way this would get a 500%gain. Based on any standard SaaS metric and benchmark, it's already overpriced. 5x ARR is generous for a business with flat growth. 10X is foolish.
PCK Price at posting:
6.1¢ Sentiment: Sell Disclosure: Not Held
