What's SMN really worth?

Today's announcement enables us to gain a clearer idea of what SMN is really worth. We know from earlier posts that there are around 37 of the 5000+ airlines in the world are categorised as Tier 1, and the guidance provided today was around $10-15M per tier 1 airline . Lets assume that they do not get a single dollar of sales from any airline or any other market in any regard other than those Tier 1 airlines; yeah I know that is a really harsh assumption. But lets run with it for a while. Lets further assume that less than half of those 37 tier 1 airlines end up using SMN's sensors, no actually lets be even tougher here and assume that only 10 of those 37 airlines buy SMN sensors. Lets further assume that they end up getting the bottom end of today's guidance, and only assume $10M per airline. This bearish set of assumptions lets you do some simple maths, namely 10 airlines times $10M which equates to $100M. As at the time of typing this post SMN was trading at $1.87; this equates to a market capitalisation of $187M. Suffice to that a company with $100M of sales should be value well north of today's $187M market capitalisation. It is quite conceivable to come up with a realistic valuation that is many multiples of today's market capitalisation once you consider the broader market, and all of the applications beyond airplanes, such as helicopters and bridges for example. Interested in other views on a realistic valuation at this stage.