Cash burn definitely the big issue. Any cap raise would be...

Cash burn definitely the big issue. Any cap raise would be substantially dilutive and sufficient debt hard to secure. Another risk is that even if they do manage to grow sales, they fail to scale well by adding additional costs (more people, bigger premises etc)

All that being said, market leading product with solid first mover advantage, great reference sites and huge runway. This could easily be a $100m company in 5 years, so even with a lot of dilution still a good return.

Undervalued at current market cap imo. For the patient investor that isn't afraid of plenty of volatility, and prepared to be diluted to some extent, this could be a big long term winner.

Saw some interesting notes on strawman.com fwiw