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"As per @LastBearStandng (Follow his substack for full report) this gives a clear picture on equity play. $BAER Financial Progression: FY 2023: $66.71M revenue -$43.44M EBITDA FY 2024: $98.61M revenue $24.84M EBITDA FY 2025 (guided): $110M revenue $42-48M EBITDA Year-over-Year Growth: 20232024: Revenue +48% EBITDA +$68.28M improvement 20242025: Revenue +12% EBITDA +$17-23M improvement (+68-93%) Equity Implication per @LastBearStandings framework: Every $3.6M of incremental EBITDA = $XXXX of share price appreciation 20242025 guided improvement: $20M (at midpoint) Pref is an overhang if Co"
X Link @BDeveran 2025-10-18T07:35Z XXX followers, XXX engagements