Ann: Investor Strategy Presentation, page-30

Just did a quick look at Bevan's other company, Megaport. Megaport has annualised revenue of $20.4M as of Feb'18, still burning cash from operational cash flow perspective, and having a market cap of $430M now. Superloop has annualised revenue of $110M+ as of Dec'17, and has a market cap of $480M only, despite having revenue 5 times the size of Megaport and already achieving ~$12M/year of positive operating cashflow. Megaport had just done a big capital raising to support expansion and is just about to execute it, whereas Superloop has done most of the hard yards already in terms of building core infrastructure and just need to sell to more customers now.


Maybe the market can meet in the middle in terms of valuation(Price to Sales Ratio wise), i.e. Megaport should halve in price and Superloop could double in price? From this perspective, I think Superloop can easily command a mkt cap of ~$700M, i.e. >$3/share.