Their projections for ARR at the end of this year at a high of $9B[1] at the end of this year. And reported gross margins of 60% (-30% with cloud providers partnerships). All things considered, if this pans out, it's a 20x multiple. High yes, but not that crazy. Specially considering their growth rate and that too at a decent margin at gm level.
[1]: It was $3B at the end of May (so likely $250M in May alone), and $5B at end of july (so $400M that month).
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