Interesting, but the whole call hinges on two things: (1) is the 50% growth a multi-year run-rate or just a capex cycle spike, and (2) is the cash improvement real or mostly working-capital unwind.

Also, “13× forward sales” isn’t automatically cheap for hardware unless you can show durable gross margins + FCF margins. What’s the revenue/margin/multiple bridge that gets you to $615 by mid-2027?