May. 12 at 5:49 PM
$DFSC Government work gives them a 1-2x revenue multiple, Bliss would be 4-6x and Lighning approximately 10x. If f the can scale up to 20M in 2027 with a blended 5x multiple, they can do 5x from here at a 100M mc if you consider outstanding warrants cashing in. The warrants would also give them a 10M cash runway