How I Project Out the Next 4 Qs… I agree with you digitel its ridiculous cheap and as more people look forward the share price should respomd. I could see it moving in multiples of the share price. Here is how I work out the next 4 Qs and why I like it;
Q1 : 5.325M (2M Billings Solutions + 325K REACH contract + 3M underlying business)
Q2: 5.475M (2M Billings Solutions + 325K REACH contract + 3.15M underlying business 5% QoQ Growth)
Q3: 5.635M (2M Billings Solutions + 325K REACH contract + 3.31M underlying business 5% QoQ Growth)
Q4: 5.800M (2M Billings Solutions + 325K REACH contract + 3.48M underlying business 5% QoQ Growth)
Total : 22.23M (I could see a number closer to 25M if the new contracts continue to roll in)
EBITDA margins recover back to the 20% range and you have EBITDA of 4.45M. (In the long run I could see EBITDA margins getting above 30%)
So that gets to trading at 2x EBITDA and 0.4x sales. That kind of valuation for a company generating gross margins at 70% and not even giving them any credit for organic growth which they have demonstrated the ability to pick up additional contracts and drive operational efficiencies with acquired products already with Billings Solutions.