12% is the discount rate, i.e. cost of equity. It's on the...

12% is the discount rate, i.e. cost of equity. It's on the higher range, plus terminal value is after 5 years in which time the company should be more established.

Also, I'm using a very conservative steady growth rate as it's unlikely a company that's only become profitable in the last 5 years will only continue to grow at inflation.

I'm not going to run a scenario test on that DCF because I just did it randomly and then deleted it. Can't be bothered building it again. TV theory? You assume the company's cash flow grows at the same rate forever and discount it all back to NPV.