RE:Growth from aquisitions; 50 mill in 3 years If I'm not mistaken I believe their run-rate revenue after the first two acquisitions is around $15 million before accounting for much/any growth from the three companies. Based on the observed growth rate we're probably around $20 million for 2018.
I'm not sure what metric this $50 million is referring to (companies often mean revenue and that's what one tweet said, but I think Guy was referring to market cap) but it is definitely possible. Right now Atlas is trading at roughly 1.4x sales (assuming the conservative $15 million revenue), so getting to a $50 million market cap by Jan 1 2021 would require approximately doubling sales to $18 million. Between organic growth of roughly 25% and a couple acquisitions adding about 10% growth each time, we're looking at only needing 3 or 4 more acquisitions to hit a $50 million market cap. I'd also argue that with margins around 20% Atlas should trade at more than 1.4x p/s.
With the focus on profitability, and what we've seen with the current acquisitions, I think a $50 million market cap on Jan 1 2021 is conservative, and from what I see Champagne doesn't seem like he wants to dilute shareholders so I'd be willing to bet this is a $1.50 stock by then. Any deserved multiple expansion just adds to the target.