Times like this can make you question your conviction in 8CO. For those of you whom have been holding since the glory days of 20c, or are running out of patience, it might be good to assess what the company is doing from an execution perspective and stop looking at the SP. This helps to filter out the noise. I am sharing my below projections based on current and future, with the current SaaS multiple and the long term ASX SaaS multiple.
Essentially, if 8CO can keep executing like they said they would in the government space, I don't see there being any issues with the thesis that GovERP (or what is was), will play out. My base case is:The rest is per the image below:
- 95k fed users by end of FY26 (this is essentially the current phase 0 + onboarding + live users).
- $200k p.a. SaaS revenue from CardHero.
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