Given a stale $1.6B valuation and 19.6x revenue multiple, projected flat to declining revenues relative to valuation, with 20% expected dilution and no near-term IPO, the equity is likely negative over a 2-year horizon.Read more

Given 24% expected upside over 2 years, moderate-high risk from incumbent pressure and potential dilution, equity cautious but undervalued relative to peer multiples.Read more