ABCDEFGHIJKLMNOPQRSTUVWXYZ
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Tax Rate17%
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PE Multiple 5 years out50
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Market cap 5 years out207
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5 year annualized return1%
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BS items as of sept 2024
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2018201920202021202220232024202520262027202820292030Notes
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Revenue0.60.71.11.51.92.22.83.64.65.77.18.911.1
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Growth17%57%36%27%16%27%30%25%25%25%25%25%
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Cost of Revenue0.20.20.40.30.40.40.49
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Gross Profit0.40.50.71.21.51.82.3
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Sales and Marketing0.50.50.70.60.70.70.8
They've shown pretty insane expense discipline the last 4 years and it doesn’t seem to be hurting growth. Also impressive they can grow at this rate with such low R&D spend.
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R&D0.30.30.60.40.40.40.4
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G&A0.30.30.70.60.60.50.5
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Total Operating Expenses1.11.121.61.71.61.7
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EBIT-0.7-0.6-1.3-0.4-0.20.20.61.01.52.02.73.65.0
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Margin9%22%27%32%35%38%41%45%
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Taxes0000000.20.20.30.50.60.8
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Net Income-0.7-0.6-1.3-0.4-0.20.20.60.81.21.72.23.04.1
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Cash and equiv123.64.6
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Debt0.40.2
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IDIQ contracts4.1
Awarded, but not funded. I assume the recent rally assumes these get funded
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Remaining Deal Value at year end3.73.94.5
1 to 5 year contract terms
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Weighted average govt contract duration
3.4
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Diluted Shares Outstanding544577164619242064229824602400
They seem to just issue shares to build up cash. Smart, but also makes you think they know shares are expensive
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Share growth17%7%11%7%
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Average Share price152210143780
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Market Cap2542213291192
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Number of Customers (Year End)367497
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% of Rev from Govt (YE)55%
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% of Rev from Commercial45%
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Avg. rev for top 20 customers495560
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% of Rev US62%
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% of Rev Non US38%
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