Order of Operations The Investor Presentation just got updated last week (maybe just a midpoint refresh during the 4.5 month gap between before the year end report on October 20th?) so I’m not expecting DHS Certification at least in the next few weeks (even as the presentation continues to say “Only provider on track to be approved for use in $4.6B target market.”) Instead, here’s what I’m imagining:
(1) XTRA is leveraging an upcoming DHS certification and a share price that is down 43% in the past 3 months, telling potential equity investors there is a window of opportunity open today that may not exist in a few months. XTRA’s recent new hires, including a VP of Sales who will be exploring new target verticals and international markets, along with the current pace of business which is going “faster and faster and faster” suggests to me XTRA is farily confident in obtaining financing. I’m imagining something higher than the MSG $15mm, probably in the $20mm-$50mm range. This would be no mean feat in today’s financing environment, and if it happens, it would be further validation of the company’s prospects.
(2) DHS certification
(3) Floodgates open on orders
I won't attempt to estimate timing on all this. But my default expectation is checkmarks on all three by year end.