Classic MF, focussing on today rather than the future (which is...

Classic MF, focussing on today rather than the future (which is important, considering the market is forward looking).

Sure if revenue and profit growth remains constant going forward it'll look overvalued. However if it triples again (or more), this'll very quickly look incredibly cheap. High growth has always meant high multiples, given that the high growth rate will necessarily mean that a particular price today is going to look significantly cheaper next year.

Market is factoring in the fact that this is a company that will likely be generating revenues in the hundreds of millions quite soon. With very high profit margins already (which will continue to increase as greater scale is achieved), it's pretty easy to see that this is priced quite cheap even if you heavily discount future performance.