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Today’s company is a lot more speculative than I usually talk about.
However, it looks like a classic potential multibagger setup to me:
A tiny company sitting on a regulatory demand wave, with a distribution channel it could never have built alone - priced for its balance sheet instead of its trajectory.
The headlines:
A 51% compounded annual revenue growth rate over the past 11 quarters, capped by a record first quarter - achieved with almost no capital to spend on growth
A demand driver written into law, not fashion: regulators in the EU, US federal procurement, and FDA-governed industries now require companies to prove what’s inside their software - with deadlines approaching fast
A market projected at ~US$1.3 billion in 2025, compounding at 24% a year through 2033 - with very few pure-play ways to own it
Enterprise customers across medical devices, industrial controls, defence, telecom - and now automotive, after landing one of the world’s largest auto parts manufacturers
Contracts around US$165K, some above US$300K - annual enterprise subscriptions, invoiced upfront, cash in the door before the year is served
A brand-new OEM partnership with a US$55 billion (market cap) testing giant that will white-label the platform and sell it through its global enterprise salesforce
Over $1.2M of debt settled and the last debenture paid off - no interest-bearing debt left on the balance sheet
A ~$37M market cap, management targeting $5M ARR by the end of Q2 2026 - and a financing overhang that just resolved at ~4% dilution, priced at market
I’m initiating a 3% position in the model portfolio.
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