RE:Patriot One has never traded lower than it did today.. .33
Well, if you base it on Evolv's current price, this garbage should be at least 5 times lower. Can't have it both ways. Evolv cash a hair over 330 million. Total assets a hair over 380 million. Booking by end of 2021 was projected to be 55-57 million (actually raised guidance). Revenue 20-23 million. By end of 2022 bookings almost 194 million. Revenue 53 million. So. Today's Evolv's valuation of 410-380 gives you about 30 million for actual "business" valuation today. Don't want to use assets and just wanna use cash? Ok, it's 80 million... Let's use this number. Pat1 valuation is 40 million with a looming 50 million shelf (because they are almost out of money)! Their revenue and bookings are literally 1/10th of Evolv at best. They are here today without a tapped shelf (yet) simply because they kept getting covid relief handouts or handouts from Ratheon. So is Pat1 overvalued at least x5 or Evolv is undervalued? I'm not even talking about lack of cash to stay in business (coming dilution). Not even talking about the need to redesign the system to address issues found by NCS4. Evolv has quite literally tons of cash and a hot selling product without any "covid excuses". Following Google search and social media you'll see that just few weeks ago they sold bunch of systems to schools, Johnson Controls is selling for Evolv now and so does MSI (last article was also schools). You can twist it anyway you want but at this particular point the value buy is clear, and it's not Pat1.