DD on HC: Business model, growth avenues & highlights Happy IPO! I'm definitely liking this market opportunity & wanted to share some DD:
HC is an EV charging solution provider focused on accelerating the adoption of EV's by providing seamless, simple charging experiences w/ a robust network of public charging stations.
3-pronged approach to business model:
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Direct purchase model: Customers can outright purchase the unit in a single transaction
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Flexible Lease model: Flexible multi-year leases reduce upfront capital
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CaaS (Charging as a Service): Ability to have a complete turnkey EV charging unit for a recurring fee
3 avenues for growth
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Multi-unit residential properties
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High visibility commercial
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Fleet owners
Additional highlights
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Already in revenue & pursuing $8M from qualified opportunities that are expected to book in 2023
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Line of sight to $50M by 2026 & set to double revenue and break even in 2024
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Extensive experience on the leadership team
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Tight share structure w/ over 78% of outstanding shares locked (thus little pressure for stock to dip below subscription price)
HC is one of the first EV charging companies to come to the market in Canada so there are few similar peers for comparison, however, comparable companies in the USA have high valuations and high demand from investors
With a strong pipeline for growth, large inside ownership and a tight float, HC is looking like a promising ground-floor opportunity with a $30M valuation. I'm going to be keeping a close eye here as there's tons of potential in this space IMO.