In the Opportunity Research report, analyst Rob Goldman reviews the fast-growing Web3 industry, the HMBL approach and its broad cross-sale revenue opportunities. Moreover, the report highlights the Company's current positioning, and how future development and marketing milestones could dramatically change the Company's outlook.
Tech Pioneer May be Only Publicly Traded Pure Play in Fast Growing Market
Goldman commented, "HMBL may be the only publicly traded pure play diversified Web3 platform and apps provider. Industry estimates suggest that the segment will grow from $3.34B in 2022 to $49.1B in 2030, a 47% CAGR. This CAGR during this period is one of the fastest growing technology segments. The decentralized Web3, which is based on trust, verification, and interactivity across apps and transactions, is poised to take over the current, flawed Web2 environment. Web2 is fraught with fraudulent accounts, users, bots, and fake ratings/reviews."
Multiple Shots on Goal, Abundant Cross Sale Opportunities with Current Clients
"HMBL's revenue model includes multiple categories, multiple shots on goal, and the exponentiality of revenue across its businesses. These include public sector, commercial, and consumer segments," noted Goldman. "HMBL has already signed a mid-sized municipality in California and the Arena Football League , which is a comprehensive 5-year contract. Revenue for HMBL will be derived on a flat fee or percentage basis for including transactions, ticketing, registry, merchandise, etc."
Reasonable 6-9 Month Target Price, Further Upside Led by Milestones
"Our forecasts assume revenue will grow from $1.5M in 2023 to $17M in 2025, with operating profit in 2025, along with a potential uplist to a major exchange. Our 6-9 month-price target assumes 4.8x our 2025 revenue estimate. Additional upside via milestone achievement is in the cards on an ongoing basis during 2024 as well," Goldman
