...have to agree...Revenue is a pointless metric.... they can...

...have to agree...Revenue is a pointless metric.... they can easily acquire more 'revenue' like they have done these last two years... just to hit those myopic performance targets....

Bottom line: anyone can sell something for $100M...$1b...but still lose money doing it... value can only be determined by positive FCF minus debt....how much cash profit in the end of the day....and how sustainable is that cash stream to deal with debt.... valuation 101....learned that when I did my CFA ~20 years ago...

I'm still optimistic based on the 'undisclosed connected dots'...but the jury is still out based on only the disclosed connected dots...still too many known unknowns....hence, still deemed venture capital...high risk, with potential high returns in my portfolio.

...my 2 cents...