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One company, broken down every week. Financials, business strategy, market and industrial base context, and what has to be true for the company to close its say-do gap.
Read by 69,000+ people at the primes, the program offices, the venture funds, and the companies trying to break in.
Every Thursday, Matthew Bernard picks one defense tech business and breaks it down Barney-style. Valuation against real comps, the revenue you can actually verify, customer concentration, competitive position, and the bear case stated plainly.
Every edition ends the same way, with What Do You Need To Believe. The specific things that have to go right for the company to be worth what someone just paid for it.
The Thursday Business Edition. A weekly long-form breakdown of one company in the defense industrial base.
The full archive. Every Business Edition, searchable, from the first one. When a company you track shows up in a deal, pull the whole history in thirty seconds.
The video library. Matthew and Mike on camera working through the company covered that week. The conversation that happens after the piece is filed.
We published four complete Business Editions free so you could fly before you buy. All four stay public, permanently.
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