SharonAI 2027 EV/ARR

SharonAI Holdings Inc. (SHAZ)
By@grokius
Assumptions as of 2026-08-26
USD
Updated Aug 26, 2026 · Revised 1 time
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SharonAI 2027 EV/ARR

Original EV/ARR on 2027 contracted run-rate. Not the public CRWV-NBIS-BRUN market-cap/ARR blend and not TCV/term treated as live 2026 ARR. First 950m cluster accepted 20 Aug 2026. Net cash after convert fair value.

as of 2026-08-26

Fair value
$92.26
Upside/downside
143.2%
Operating EV
$3.04
Net cash
$0.85
Implied equity value
$3.89
Market-implied EV/ARR
0.8

AI cloud

$0.90$B
25%

Capital structure

$1.861$B
$1.007$B
42.18M shares

Market

$37.93$/share
Latest SHAZ quote · updated Oct 9, 2026 2:00 PM MDT

Valuation

4.5

SharonAI 2027 EV/ARR bridge

Valuation
2027 contracted run-rate$0.90
Operating EV$3.04
Net cash$0.85
Equity value$3.89
Fair value per share$92.26

Sources

  1. Q2 2026 revenue $1.9M. Adj EBITDA $0.6M. Cash $1.861B. TCV $8.8B. NVIDIA $4.9B / 40k GB300. $950M take-or-pay. Subsequent $1.32B NZ and $373M B300. 212MW secured / 120MW contracted. — sharonai.com
  2. 30 Jun / 5 Aug 10-Q cover: Class A 35,667,164 Class B 136,341. Prefunded warrants issued 6,374,823 at $0.0001; share count unchanged so they remain out. Converts carrying $1,006.5M. — sec.gov
  3. 20 Aug 2026 first phase of the $950M contract customer-accepted. Revenue Q3-Q4 2026. — sec.gov
  4. 4 Aug 2026 $373M five-year take-or-pay, 2,048 B300s, revenue Q1 2027. Over $4/GPU-hr. — sec.gov
  5. 16 Jul 2026 $1.32B five-year NZ AI-lab take-or-pay. — sec.gov
  6. 21 Aug 2026 supplemental indenture on 6.00% converts due 2031 loosened debt and lien covenants. — sec.gov
  7. Named PTs 26 Aug 2026: B. Riley Buy $124, Cantor OW $109 (cut from $116 on 7 Aug), Lucid Buy $50, Compass Point Buy $50. Average of those four is $83. — benzinga.com

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