It has been a pretty tough few weeks for a lot of micro caps, and personally I am happy that 30 June has arrived.
However, I cannot agree with your statement "if they don't produce news shortly this thing will freefall".
Whilst it would have been nice to get a material $ contract announcement with Eversource / US DOD / other clients, I suspect there is now a very large level of underlying interest & support for 3DP.
This is a micro cap business that has these positive characteristics:
Rapidly growing revenues - with their 30 April 2021 ACV figure being around $7.9m USD (up from $2.16m USD at 30 April 2020).
Recent Airovant acquisition adds approximately a further $1.4m USD to this ACV figure.
Existing clients keep increasing their spend.
Very high gross margins - upwards of 85%.
Very low overheads - from memory, their overheads are less than $6m pa.
Cash flow positive.
Approximately $5m cash in bank.
3DP is profitable at relatively low revenue figures, and highly profitable once revenues start cranking (think PME style numbers).
Super strong management & staff - which was only enhanced with the 4 members that recently came on board with the Airovant acquisition.
In an industry with a huge total addressable market.
Great and rapidly developing product.
Their market place product (3Dinsight) should be a ripper.
Market cap is now approximately 26.5 x ACV number at 30 April - whilst this clearly has some "blue sky" baked into it, IMO it is not too high given the revenue growth / high GPM's / potential of this business.
For these reasons, I can't see it ever "heading back to 30 cents"
Looking forward to the next weeks / months / years here.
