I would however offer an alternative valuation comparison.
Here is unlisted coy from Townsville. Safety Culture...Current valuation of over $2B usd. ( based of recent cap raises ) I see a lot of similarities within the businesses. It will all come down to the execution and for a non holder I believe the tide has turned. I dont know anything about Vault. Why did they buy it and what was the form of remuneration?
Not advice, just my view. I still don't hold , but after further DD , i believe I will dip a toe in.