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S has an annual revenue baseline of $1.00B, latest revenue marker of $258.9M fiscal Q3 2026, annual net income of -$450.7M and cash of $169.6M. The thesis depends on revenue durability, margins, cash conversion and balance-sheet discipline.
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A beginner-friendly, fact-based DVLT brief on HELMEX, the UK address controversy, the non-binding $2B term sheet, the $25M payment, dilution, and board rights.
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