I'm going to post these as I have time in the day [lunch, after work etc] - so they may be fragmented. 

Quaitiaitve analysis - so this is more concerns the soft-side of UR 

1. The company was capable of realizing that the move from start-Up to commercialization required new leadership. I know this may not sound important but you would be amazed how rare it is for a CEO and a BOD to have this kind of forsight, to evolve before problems arise as opposed to post-hoc is critical. 

2. The Geospatial tech award is what I would argue is akin to a journal article for a biotech company - it reaffirms that what the company is doing is truely innovative as opposed to creating the illusion of innovation [this is a serious problem in the tech industry right now IMO]. 

3. The choice to refocus investment from ISS to Constellation is impressive to say the least. ISS has a built in shelf life and the company more or less decided to innovate further as opposd to throw money into a revenue stream that will have to end sometime mid 2020's. I personally believe innovation in itself deserves a premium.

4. The strategic transaction of the year award for Deimos underscores that it was value accretive - leverage can kill a company or catapult it, I tend to side with UR using debt efficiently based on the past year. 

5. Catalysts:

(a) I am certain the BOD and CEO are aware that they have manufactured March 30, 2016 as a binary event, and in my mind there can only be one reason for that. As I stated before, it would be near suicidal to release poor guidance and financials on the day that you introduce UR to the world. I just read a PT of $2.00 post capital markets day. I think this is likely low, I would hazard a guess we see something nearer to $2.5-$3 within 1 week post-Capital markets day but that's more of shot in the dark lol no one can predict near term PPS targets. 

(b) The Constellation MOUs formalizing into binding commitments will be a game changer - I think on top of a solid Capital Markets day Constellation becoming a reality will push the PPS well over $3, possibly into the $4 range. I almost wonder if an update on this will be released on Capital Markets Day?

6. UR is developing into a M&A target - the company is reaching critical mass in terms of commercialization vs. enterprise value, I'll get into this a little more in a quantitative post I intend to do later but I think if guidance is strong and constallation is formalized it is possible DGI or a new Co interested in the space takes out the entire company for a considerable premium. 

Financial analysis to follow tonight/tommorow.