A New Potential Multibagger Idea...
A founder-CEO who just delivered his three-year plan a year early, with a bolder 2030 plan now in motion.
To read our full disclaimer, click here:
I originally posted this idea on my other publication, Real Economy Ideas, on April 30th.
Since then, the company has reported its first quarter and the stock is up roughly 38% in a month, now trading at $2.83 a share.
I wanted to share the updated thesis here as I still think the setup is interesting.
Today’s company is a founder-led subsea microcap with:
A record Q1: revenue of $8.2M, up 56% year-over-year and 13% sequentially - the second consecutive record quarter
EBITDA up 69%, net income flipped from a loss, fixed-price contracts doubled
A three-year growth strategy delivered a year ahead of schedule and a bolder 2030 roadmap just unveiled
Five oil and gas pre-qualifications in Brazil, with management quoting “very large opportunities” in the most concentrated subsea market in the world
A first Gulf of America subsea distribution system award, plus new contracts in West Africa and offshore manufacturing
Westwood forecasting 15% subsea tree award growth into 2027 and 1,375 planned subsea wells over four years
A market cap of just $34.5M, ~1x annualised Q1 sales, with zero sell-side coverage and an OTCQB listing
Want the rest of this write-up, plus the full back catalogue of ideas covered on this page? Upgrade now and gain instant access to the Multibagger Portal: