Thanks for your post. I guess it makes sense if they can reach the same operating profit faster with smaller projects, I guess this is new direction of the new CEO. The question with those small ones are they mostly just one-off revenue? I see they have $9m in recurring revenue currently but couldn't seem to find the break-down. From a DCF valuation point of view, the majority of a company's value is in the perpetual terminal value, I think this is why SAAS companies typically trade at high multiple while companies like construction constructors that rely on one-off projects are much lower.
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