I refer you to some outlooks provided mid last year, showing the...

I refer you to some outlooks provided mid last year, showing the company's growth intentions to try and bring forward the revenue growth rather than focussing on directly being cashflow positive.



As said above, most SaaS with quality ARR's are often on multiples of their ARR rather than their P/E ratio as the software provided is so easily scalable in the future.


If on par with the wider range of SaaS companies, EVS would run on a 16.6x multiple (at Dec2021, its probably higher now) which would give it a market cap of $772mill or a share price of $0.65. However unlikely this may be, the width of the water solution may be on that run rate as its market is significantly larger and the growth prospects there are pretty incredible. I would much rather see consistent revenue growth QoQ and a larger growth in ARR through the pipeline here at EVS than let it waste opportunities on trying to be cashflow positive this early into its business lifecycle. Its got great products that can help many businesses and governments so it shouldn't feel the need to hold back on these opportunities when they arise.



Aviation ARR multiple should be around 6x based on its smaller upside in market potential. (we're around $32mill of this $194mill addressable market already).
Omnis ARR multiple would be on a 15-20x multiple as the mining services industry is absolutely booming right now and the ESG focus towards renewable energy is becoming larger and larger. ($14.6mill is taken by omnis already).
Water ARR multiple at this point is largely irrelevant because of our exposure to it so far ($0.1mill), but I would outline a consistent 15x multiple to the ARR provided by the water treatment market.



Good luck.