I have gone through multiple Linkedin profiles of employees of 8K Miles, read posts of many senior executives on Microsoft azure blog. I myself work in IT domain. I am an experienced Big data engineer. From their profile , it can be easily gauged that they are doing genuine work in Cloud, Bigdata. Many employees have also mentioned client names like Pfizer in their job roles. If you believe me , Cloud migration is very hot these days. Managing a dedicated IT infrastructure is very costly and organisations often require third party support for migration. Also they have Saas products which provide recurring revenue. I invested in this company without looking into price, balance sheet but i considered its products. It is very easy to blame management but running a business is another thing. Today i saw many people saying it a chor company just because share price has fallen. For doing expansion they have to spend a lot of money, they can easily get caught wrong footed. But thats how startups/small companies work. I may be wrong, but i think balance sheet alone is not sufficient to judge a company otherwise all accountants would have been millionaires.
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