After today’s results, which I read as mostly promising, but certainly not all good (burn of $31M still hurt deep down), we can start to wonder if they can crawl their way back closer to their historical valuation.
Historical average EV / Sales multiple: 5.74x
Multiple today: 1.41x
I explain my research on them and 24 other listed Saas small cap companies in this article: https://goforgrowthco.substack.com/p/todays-growth-multiples
If the business continues to grow top line the way it’s going and covert these extra dollars into FCF (which they said they would), then with market sentiment shift alone, there’s good upside potential here on valuation alone in my opinion.
Will be interesting to see what unfolds over the next year
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