+202%

est. 2Y upside i

Climate TechSeries B

Pano is building the world’s first, fully-integrated disaster management platform focused on climate change resilience.

Rank

#92

Sector

Wildfire Technology, Climate Tech

Est. Liquidity

~3Y

Data Quality

Data: Low

Pano AI offers significant upside potential with a base-case return of 262%, driven by a low 2.5x revenue multiple and strong customer adoption.

Last updated: July 19, 2026

Bull (20%)+280%

Exit multiple expands to 8x forward revenue (similar to Palantir) due to an IPO window or category leadership. After 20% dilution, common upside reaches 280%.

Base (55%)+262%

Exit multiple converges to 6x (low end of comps) as the company matures. After 20% dilution, common upside is 262%.

Bear (25%)+7%

Exit multiple compresses to 2x revenue due to slowing growth or competitive pressure. After 20% dilution, common upside is 7%, just above break-even.

Est. time to liquidity~3.0 years

Preference Stack Risk

severe

Funding Intensity

36%

Total preferred stock of $89M represents 35.6% of current $250M valuation, significantly overhanging common equity in a downside scenario.

Dilution Risk

moderate

Given recent Series B, additional raise likely within 24 months may dilute common by ~20%.

Secondary Liquidity

none

No secondary market activity observed; liquidity will require IPO or acquisition.

Questions to Ask at the Interview

Strategic questions based on Pano's data — designed to show you've done your homework.

  • 1

    “How will Pano AI expand its customer base beyond utilities to other sectors?”

  • 2

    “What is the company's net revenue retention rate and how does it compare to competitors?”

  • 3

    “Given the preference stack, what is the realistic timeline and likelihood of a liquidity event for common shareholders?”

Community

Valuation Sentiment

Our model estimates +202% upside. What do you think?

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Disclaimer: This analysis is AI-generated and does not constitute financial or career advice. Always conduct your own due diligence.