+48%

est. 2Y upside i

HealthcareAI & MLData & AnalyticsSeries C

The only R&D data cloud for life sciences

Rank

#1017

Sector

Life Sciences Software, AI, and Data Analytics

Est. Liquidity

~2Y

Data Quality

Data: Medium

TetraScience offers a rare risk/reward profile: severe liquidity preference overhang means common stock is currently underwater, but the platform's strong moat and AI tailwinds could drive substantial upside if growth accelerates.

Last updated: July 19, 2026

Bull (20%)+200%

If TetraScience capitalizes on scientific AI trend and IPO window opens within 2 years, revenue reaches ~$34M and exit multiple expands to 8x, yielding ~200% upside (post dilution). Preference overhang reduces common's absolute gain but still significant.

Base (45%)+95%

With moderate growth (~22% in Y1, ~17% in Y2), revenue reaches ~$34M and exit multiple converges to 4.5x, implying ~95% upside net of dilution. Preference stack risk remains high but exit above total funding of $142M.

Bear (35%)-100%

If growth deceleration and competition compress multiple to 2.5x, exit value falls below $142M total funding, common stock recovers -100% due to 1x liquidation preference.

Est. time to liquidity~2.0 years

Preference Stack Risk

severe

Funding Intensity

19720%

Total preferred liquidation preference of $142M exceeds current valuation of $72M, meaning common equity currently has no residual value.

Dilution Risk

high

With stagnant revenue growth and high cash burn, a new round within 2 years is probable, potentially diluting common by 15-25%.

Secondary Liquidity

none

No secondary liquidity exists; employees must wait for an IPO or acquisition.

Questions to Ask at the Interview

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

  • 1

    “How do you plan to accelerate revenue growth in a market where incumbents like Thermo Fisher are expanding their data offerings?”

  • 2

    “What is the company's path to breakeven given the high preference overhang?”

  • 3

    “How does the equity compensation structure account for the preference stack, and what is the realistic time to liquidity?”

Community

Valuation Sentiment

Our model estimates +48% 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.