Valuation Comparison, page-3

Interesting perspective Lightforce.........similar financials, but I don't think the comparison is close enough. Close, but not quite enough.

NEA for me is ovr inflated hype with two many competitors in its space. A more suitable comparison would be something that has a market leading position and squashes its next largest competitor.
Try AD8 - Audinate

Audinate has revolutionized the audio industry. It is becoming a must have for OEM's (Original Equipment Manufacturer). AD8 has over 400 manufactures. Each OEM acts like a team for Catapult......... The must use the technology to compete with the others otherwise they end up suffering. OEM's that refused to adopt the AD8 technology are now saying ok I guess we have to put it in now. Audinate is like the standard operating system now for audio equipment in the live space. Catapult looks like its becoming the same.

AD8's financials are different with lower revenue, similar cash and product development platform to keep growing its dominant position in a growing addressable market soaking up most of its gross margin but price/revenue ratio is significantly higher for AD8.................

Mkt cap is 170 million compared to $225 million
Cash is around $15 million compared $18 million
Revenue - Around $17 million compared to about $70 million for the FY
Price/Revenue Ration 10 times vs 3 and a bit.

Catapult is becoming if not already a market dominant force and should be getting market dominant revenue multiples baked into its price.

Btw I think AD8 is cheap, so my feeling CAT is maybe twice as cheap.