What is everyone's thoughts on the below? Am I missing something?
Marketcap: $28.4Netcash = $14.4m
EV:$13.6m
Annualisedcore operations NPAT: $1.9m -> Supply chain normalisation beneficiary … Revgrowing +9% y/y.
VotiroARR of $4.8m USD (+30% y/y growth). 59% ownership. Looks like they raised at a$12.5m valuation in March 2023.
Targetvaluation:
10PE * core NPAT of $1.9m (reasonable for a cyber play growing HSD with 50% inmaintenance rev stream) = $19m
Votirogrows ARR to $6m this year. 3x ARR multiple seems very reasonable withoptionality of take-out / valuation going exponential on a rate cut = $18m USD= $27m AUD. Sen owns 59% of it.. 59%*$27m AUD = $16m
$19m+ $16m + net cash of $14.4m = target market cap of $50m -> +76% upside
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Mkt cap ! $33.12M | |||
| Open | High | Low | Value | Volume |
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