Interested in your thoughts
@ValueSnatcher about potential catalysts for a rerate. As you point out, they've been hit along with other tech stocks as part of the end of year sales so might expect a bit of a bounce but at some point they'll need some substance:
ARR of $18m
Market Capitalisation of $40m
$14m cash but presumably a chunk will be needed for Eagle earn-out/whatever
Hype on competitive advantage from facilitating "Ancillary Services", infinite?
They have big dreams (good thing) but might the reality be closer to fighting for margin in a highly competitive industry with the same sized pie.
Their ARR and a handful of other metrics might be creeping up but might that not just be a bit of short-term tailwinds associated with the Eagle acquisition (i.e. cross-sell)?
I guess the new PM module might give them another kicker but hard to say how much. What can be assumed is that their competitors AgentBox and the like will be compiling their own growth plans and their/our respective customers will be expecting more (for similar cost) as each year passes.
Genuinely interested but while the "Ancillary Services" seems great as a concept I'm wondering how long (and how much) it might take to establish real traction (and then how much they might actually make from it as facilitators).
