Dec. 11 at 3:48 AM
$IDXG Reminder to those unfamiliar with IDXG's cap table. Though the PE Preferred shareholders gave up their preference in 2024, they still can convert to 23MM shares--there are really 27MM shares outstanding. Not 4MM.
In terms of valuation based on FCF or EBITDA. Ten times EBITDA gets you a MC of
$50MM but ten times cash flow is
$70MM or so now that the debt is paid. That gets you
$2-
$3 per share.
You can't get to
$20 per share with 27MM shares oustanding under any fantasy scenario.