Plenti has been sold off aggressively in line with other loss making tech stock, but even on the current loan book its on the cusp of being of a FCF machine.
At SP of $1.03, forward EV/revenue is around 1.5, even if it achieves a 15% FCF margin on current revenue levels that will be a 10% yield on current EV. That is just on the current size of the loan book and does not take into account existing capacity and planned establishment of new funding facilities to further expand the loan book and continue the 20% QoQ growth in the loan book.
Only reason market hasn't appreciated recent operating results IMO is the overhang of shares coming out of escrow but from memory there is only one batch to go and hopefully this clears after that.
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