Dubber really needs to start delivering on the contracts hey have in place or investor patience will wane. They went live on the Cisco price list middle of last year, there was a backlog of orders apparently which go through an ‘onboarding process’... which is how long?
If the market doesn’t see organic growth the valuation will unquestionably fall. We trade on a 13 x sales multiple. ARR or not, costs have increased and the organic growth is yet to eventuate. You only have to look at what has happened to LiveTiles to see how the market loses patience. They had partnerships with Microsoft and government bodies, and share price expectations surged in 2017, however their growth was muted and they ended up buying growth through acquisitions. They’ve yet to break even and currently trade on a 3x sales despite also having an ‘ARR’ business, and that’s with $70m in ARR a year.
