mCloud Technologies Corp (MCLD)

[DVP25]

Doing some quick math, you may even need to revise your $50M AC ARR number under "most optimistic" scenario.

Let's say by the end of 2021 they are able to reach 50% of the "Immediately addressable local market of over 10,000 connectable heat exchangers" Considering they expect to connect "at least 1000" by year-end, that doesn't seem too far-fetched.

At 10x the rev of an HVAC unit, that would be about $700/mo per asset or $3.5M/mo just from the heat exchangers alone. That's ARR of $42M just from the exchangers!

Granted, 5K connected by 2021 is FAR from a certainty, but that's some serious revenue potential.