Ann: First Akida IP License Agreement, page-282

Great find.

"In 2012 ARM brought in $913.1M. Given how many ARM designs exist in the market (and the size of some of ARM's biggest customers), it almost seems like ARM should be raising its royalty rates a bit. Because of ARM's unique business model, gross margin can be north of 94%. Operating margin tends to be around 45% though."

Fast forward 8 years, and it was just sold for USD $40bn (circa AUD $52bn).

If BRN can even be siting on $100mil revenue in 2-3 years, which is not beyond the realms of possibilities given the size of the customers in their EAP (i.e. Valeo, Ford, NASA, and left-field companies such as the recent semi-conductor company) then think about how much the company would be worth then, noting that the AI race is only going to heat up as the world shifts to technology and AI.

That is a lot of billions valuation, and makes the current MC look tiny!