Was excited by flash today, so I’ve been doing somecomparisons...

Was excited by flash today, so I’ve been doing somecomparisons between LVT and previous/current high growth and high value stocksin tech.

Xero comparison creates some compelling reading, their FY10-FY12position is very similar to LVTs last 2 years, only main difference is LVT isgrowing at a much quicker rate.

NB Xero was valued at $429M at same ARR point (LVT currently$190M)… then Xero went to $1.3B market cap, then $4B in the 2 following FYs atgrowth rates of ~90% (well under LVT current growth rates of 200%+).

Xero currently sitting at $6B market cap.

Canva is private, but in their last raise, at ARR of ~$22Mthey had a valuation of over $1B and they’ve been around for twice as long as LVTto get to the same point, ie a valuation multiple of ~50.

Always some subtle differences in every stock and associatedanalysis.  

	Xero - Growth Summary
1	NZ$m (March y/end)
2		FY08	FY09	FY10	FY11	FY12	FY13	FY14
3	ARR			6	13	25	52	93
4	ARR growth				117%	92%	108%	79%
5
6	Operating Revenue	0	1	3	10	19	39	70
7	Operating Expenses	-5	-8	-14	-18	-28	-60	-86
8
9	Capital Raised	15	0	29	4	36	60	180
10	Cash	10	4	21	17	39	78	210
11
12	Employees	50	56	90	?	194	382	758
13
14	Market Cap	41	55	140	228	429	1,292	4,084
15	Market Cap / ARR multiple	N/A	N/A	23	18	17	25	44

Does anyone have any other statistical analysis/insights to compliment my analysis? Are they on track like my research shows?