Eclipse Foods
-100%
est. 2Y upside i
Eclipse is a proprietary plant-based dairy replacement, offering the same consistency and flavor as traditional milk.
Rank
#3796
Sector
Food Products
Est. Liquidity
~5Y
Data Quality
Data: LowAvoid equity as the current valuation of $170M on $4.5M revenue implies a 38x multiple, far above comparable public companies (2-5x).
Last updated: July 19, 2026
Even with optimistic 10x revenue multiple on projected $8M revenue, exit value of $80M yields common residual of $20M, an 82% loss from current $110M common value. IPO window unlikely and category leadership insufficient to sustain current multiple.
Revenue multiple converges to 3.5x (midpoint of comp range), exit value $28M below $60M preference, common stock worthless.
Multiple compresses to 1x, exit value $8M below preference, common stock worthless.
Preference Stack Risk
severeFunding Intensity
3520%Total funding of $60M represents 35% of current valuation, creating a significant preference overhang.
Dilution Risk
highLikely need to raise additional capital within 24 months, diluting common shareholders by 15-25%.
Secondary Liquidity
noneNo secondary market activity reported.
Questions to Ask at the Interview
Strategic questions based on Eclipse Foods's data — designed to show you've done your homework.
- 1
“How does Eclipse's unit economics compare to dairy incumbents?”
- 2
“What is the path to profitability given current gross margins?”
- 3
“How do you see the competitive landscape with Impossible Foods entering plant-based dairy?”
Community
Valuation Sentiment
Our model estimates -100% upside. What do you think?
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Community Discussion
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Disclaimer: This analysis is AI-generated and does not constitute financial or career advice. Always conduct your own due diligence.