Berkeley Lights Inc. (BLI) Social Stream
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$ABCL I just looked at $BLI earnings. They are on track for $100M in revenue this year and are valued at $3B (or maybe $2.5B if the 15% drop today hasn't been factored in. The key metric here is that VALUATION = 25x - 30x SALES. To me this makes complete sense if you compare to other high growth, high gross margin businesses like SaaS companies.rickvug, published August 11, 2021
My question to you all is this: ASSUMING 25x - 30x SALES AS A BENCHMARK, WHAT SHOULD $ABCL VALUED AT TODAY? This is really tricky and the difference between a bear vs. bull case. In a bull case you can point to the fact that AbCellera was on track for $800M in revenue until its COIVD-19 antibody was taken off market. On the flip side, without any COIVD-19 revenue AbCellera might bring in > $50M in research fees and milestone payments.
Bear case: 25x * $50M = $1.25B market cap = ~$5 a share
Bull case: 25x * $800M = $20B market cap = ~$75 a share
Thoughts on this metric and what might be fair given current revenue uncertainty?
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