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[@BDeveran](/creator/twitter/BDeveran)
"Great research by @transhumanica on EchoStar so undervalued. Nav/PS arbitrage is not easy to find Will take the market sometime to digest proforma cash & SpaceX equity appreciation. I personally have 5.4k shares I hope Verizon buys the AWS-3 block soon. Some have mentioned meaningful impairment value to the AWS-3 spectrum will be interesting to see how it plays out. Citi Bank added them to their XX Day Catalyst Watch as reported by TipRanks"  
[X Link](https://x.com/BDeveran/status/1977726332004872632) [@BDeveran](/creator/x/BDeveran) 2025-10-13T13:21Z XXX followers, 2418 engagements


"There were so many chances to buy $ASTS but my contrarian mind wouldn't let me. I remember seeing it below $XX in Jan Even a month ago I loaded EchoStar for a 500k position when I could have bought that inversion dip on ASTS at like $XX that was only a month ago. Congrats to all in this"  
[X Link](https://x.com/BDeveran/status/1977839877338067093) [@BDeveran](/creator/x/BDeveran) 2025-10-13T20:52Z XXX followers, 18.6K engagements


"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](https://x.com/BDeveran/status/1979451165436973358) [@BDeveran](/creator/x/BDeveran) 2025-10-18T07:35Z XXX followers, XXX engagements


"$BAER Interesting findings from continued due diligence for Bridger Aerospace Hiring activity via Senior/Staff Platform Engineer Senior/Staff Full-Stack Web Engineer Mobile Engineer (iOS) As well as other active job listings most recently XX hrs ago: "Program and Contracts Analyst" interesting as well. All Belgrade Montana. All senior-level positions for Ignis platform. Recent ops activity: October XX 2025 - Texas Live Mission: Bridger public statement: "Yesterday our Multi-Mission team completed its first Sensor-Enhanced aerial firefighting mission in Texas livestreaming real-time intel to"  
[X Link](https://x.com/BDeveran/status/1979188686462845067) [@BDeveran](/creator/x/BDeveran) 2025-10-17T14:12Z XXX followers, XXX engagements


"$BAER The Preferred/Debt Overhang: This is true distressed investing. The Capital Stack Reality: Senior bonds: XXXX% coupon mature Sept 2027 callable Sept 2025 Series A Preferred: $387M face accrues X% X% XX% convertible at $XXXXX matures 2032. Held by Barings/Martello Re. Warrants: 26.65M at $XXXXX strike = $306M proceeds if exercised Common: 55M shares @ $XXXX = **$89M market cap** Hence why the equity trades as a stub. What We Know Works: FY23FY25: Revenue $67M$110M EBITDA -$43M$45M (midpoint) Thats $88M EBITDA swing in XX months Per @LastBearStandng: hypothetically speaking every $3.6M"  
[X Link](https://x.com/BDeveran/status/1979475023598641445) [@BDeveran](/creator/x/BDeveran) 2025-10-18T09:09Z XXX followers, 4863 engagements


"Few AI Healthcare names lagging hard in 2025 Both in digital health. EX: $TDOC $TALK Both could run"  
[X Link](https://x.com/BDeveran/status/1959034930848997473) [@BDeveran](/creator/x/BDeveran) 2025-08-22T23:28Z XXX followers, XXX engagements


"$LUNR 👇🏼👇🏼👇🏼👇🏼👇🏼 I recently initiated a buy in Intutive Machines after starting to follow the company and doing some equity research I am very bullish on the following: Intuitive Machines represents a compelling distressed entry into NASA's structural reallocation cycle under the Trump/Duffy administration. Priced for perpetual execution risk and dilution overhang LUNR is structurally levered to what we believe will be a minimum$3B+ budget clawback from Earth science programs flowing into Artemis-aligned contracts where IM already holds prime positions or is in line to submit for"  
[X Link](https://x.com/BDeveran/status/1961132156475887805) [@BDeveran](/creator/x/BDeveran) 2025-08-28T18:21Z XXX followers, 2589 engagements


"Katapult NASDAQ: $KPLT Full Breakdown Valuation & Financials Market cap $96M ($21/share) EV $170M after $80.6M revolver draw. TTM revenue $254M growing 2030% YoY. Trading at 0.67x EV/Revenue vs. BNPL comps: PRG/UPBD 0.7x LC 2x AFRM/SOFI 911x. Q225 GAAP net loss $7.8M but only $1.4M operating loss; Adj. EBITDA positive ($0.3M). Mgmt guides $10M+ Adj. EBITDA in FY25. Liquidity & Structure Cash position razor-thin: $3.7M unrestricted $5.3M restricted. $110M revolver from Blue Owl $80.6M drawn. This isnt growth capital its asset-backed financing secured by the lease book and used to keep the"  
[X Link](https://x.com/BDeveran/status/1964794530554585598) [@BDeveran](/creator/x/BDeveran) 2025-09-07T20:54Z XXX followers, XXX engagements


"Update on FMS/BAER Research Report: We've revised the report to remove two sections that speculated on specific contract types FMS Aerospace might bid for related to Space Command and Golden Dome programs. What we removed: Sections that outlined potential contract opportunities based on my interpretation of program needs rather than publicly announced RFPs or solicitations by Space Command or Golden Dome. While FMS has relevant capabilities in aircraft modifications sensor integration and flight test engineering I was making informed assumptions about use cases that haven't been confirmed. It"  
[X Link](https://x.com/BDeveran/status/1977711748107936184) [@BDeveran](/creator/x/BDeveran) 2025-10-13T12:23Z XXX followers, 5792 engagements


"$BAER Also worth highlighting from FMS Aerospace: The WC-135 contract is particularly notable: this is not routine aircraft maintenance. The WC-135 fleet requires Top Secret clearances handles nuclear detection missions and demands the ability to reverse-engineer and modernize decades-old systems that can no longer be sourced from original manufacturers. In our opinion This proven capability in mission-critical defense work positions FMS to compete for complex Space Command and Golden Dome-related opportunities"  
[X Link](https://x.com/BDeveran/status/1977713689709957161) [@BDeveran](/creator/x/BDeveran) 2025-10-13T12:31Z XXX followers, XXX engagements


"$BAER - It Gets Even More Interesting: The FF72 Strategic Partnership with FMS - Why Didn't IR Announce This On March XX 2025 Bridger announced a strategic partnership with Positive Aviation designating Bridger as the exclusive North American launch customer for the FF72 amphibious water-scooping aircraft with an initial order of XX aircraft plus options for XX more XX. In September 2025 FMS's contract award for the flight test engineering work was never announced by Bridger IR - we only found it on FMS's LinkedIn X. Here's the complete announcement: "Huntsville Alabama FMS Aerospace A"  
[X Link](https://x.com/BDeveran/status/1977722723657810047) [@BDeveran](/creator/x/BDeveran) 2025-10-13T13:06Z XXX followers, 1099 engagements


"$BAER Bridger Aerospaces subsidiary FMS Aerospace makes the antenna mount for IFC on the Air Forces KC-135 that is outfitted for MILSATCOM from Viasat & Starlink. There is estimated XXX KC XXX currently in service from what I could find. Small part but very cool CNC machinery for a military application. Cool little tid bit"  
[X Link](https://x.com/BDeveran/status/1978233762283770331) [@BDeveran](/creator/x/BDeveran) 2025-10-14T22:57Z XXX followers, XXX engagements


"@unusual_whales Meanwhile US EV ICE like Rivian are still trying to get a unit economic viable car off of the production line that actually makes a gross profit after 17+ years in business 😂"  
[X Link](https://x.com/BDeveran/status/1978829635853910114) [@BDeveran](/creator/x/BDeveran) 2025-10-16T14:25Z XXX followers, XXX engagements


"Look at @LastBearStandng for a great report on financial picture & a lot of other great bits of research on budget increase windfalls etc Other than that I would look deeper into FMS Aerospace & massive their contract vehicles w/ Navy / Air Force etc. Most recently Ive been looking at their post a few months back relating to drone demonstrations for the US Navy you can find the post on their LinkedIn. They met with NAVY leadership: SKIRON-X military UAS and Baron 58C they'd outfitted demonstrating capability to support "next-gen Naval tech flight test operations." FMS holds pre-competed"  
[X Link](https://x.com/BDeveran/status/1979322238378668313) [@BDeveran](/creator/x/BDeveran) 2025-10-17T23:02Z XXX followers, XX engagements


"Compliance/Disclaimer: This research report is provided for informational purposes only and does not constitute an offer or solicitation to buy or sell any securities including Bridger Aerospace NASDAQ: $BAER. I hold a long position in BAER stock which may present a conflict of interest and influence the views expressed herein. Opinions and projections are based on publicly available information company filings and market data as of October 18th 2025 but are subject to change without notice. Forward-looking statements including revenue EBITDA debt reduction and policy impacts involve"  
[X Link](https://x.com/BDeveran/status/1979451276468294039) [@BDeveran](/creator/x/BDeveran) 2025-10-18T07:35Z XXX followers, XXX engagements


"Interesting points I agree I am not war mongering no one wants conflict I sure don't. I just think evidently there is a strong chance of conflict in the future over Taiwan & I think that is what marine corps command was hinting at in that speech. Hope I am wrong and their is peace in the region 🙏🙏"  
[X Link](https://x.com/BDeveran/status/1979899658412470646) [@BDeveran](/creator/x/BDeveran) 2025-10-19T13:17Z XXX followers, XX engagements


"EchoStar $SATS will have a strong Nav Re-rating from here We modeled the book value now with both AT&T & SpaceX deals. This liquidity event reminds me a lot of $FCNCA post SVB receivership deal in 2023 The stock gapped on the news and then never went back to earth. In these situations technicals are trash banks are underwriting. One of my best mark to market trades was FCNCA in 2023 we bought the top of the ALGO gap after underwriting the new company NAV/Share was disgustingly undervalued. Same case today with EchoStar We grabbed 3200 shares pre market just now @ XXXXX. I think fair market"  
[X Link](https://x.com/BDeveran/status/1965034103461597694) [@BDeveran](/creator/x/BDeveran) 2025-09-08T12:46Z XXX followers, 2895 engagements


"@Serta_Capital @LastBearStandng @callmekyle528 Yes I think the hangar leaseback deal 46m net proceed + Q3 receivables that are expected to be 30m+ as mentioned on last earnings call improves their financial profile a lot for potential refi origination w/ rates dropping"  
[X Link](https://x.com/BDeveran/status/1980265028805599492) [@BDeveran](/creator/x/BDeveran) 2025-10-20T13:29Z XXX followers, XX engagements