Added to YB: 2026-05-29
Pitch date: 2026-05-27
BEW.V [neutral]
BeWhere Holdings Inc.
+1.19%
current return
Author Info
Banyan Lane Capital aims to present actionable investment research on asymmetric opportunities that, in many cases, are not front and center for investors. Sign up for the newsletter.
Company Info
BeWhere Holdings Inc. operates as an industrial Internet of Things solutions company. The company offers real-time information on equipment, tools, and inventory in-transit and at facilities serving the emergency service, construction, utility, and transportation industries; and designs and sells beacons; and develops mobile applications, middleware, and cloud-based solutions.
Market Cap
CAD 81.6M
Pitch Price
CAD 0.84
Price Target
3.20 (+286%)
Dividend
N/A
EV/EBITDA
32.40
P/E
75.61
EV/Sales
3.30
Sector
Software
Category
growth
BeWhere Q1 Update - 'Vision 20/20 Plus' Maps Exactly to our 2028 Base Case
BEW.V (update): Q1 rev C$4.7M (+12% YoY), EBITDA C$653K (+96%), record 45.5% gross margin (+750bps YoY). New 'Vision 20/20 Plus' targets ARR >C$20M (from C$9.7M) & 20% EBITDA margin by 2028, implying ~28% recurring CAGR & 45-55% EBITDA CAGR—matching base case w/o satellite upside. Risk: recurring growth slowed to 14% vs 28% needed; hardware flat on BeBatt launch timing. Valuation: 3.5x sales vs 8x peers; 2028 targets imply C$1.75-C$3.20/share (2-4x upside). Next catalyst: Q2 BeBatt sell-through.
Read full article (6 min)