Working together · Demand-Side Diligence
Whether the revenue comes from customers or from programmes, and whether anyone has bought the same thing twice.
One. Who is actually paying. A logo wall shows a paying customer, an investor, a partner, a signed memorandum and a demonstration an agency funded in exactly the same way. The report takes them apart and says which is which, with the source for each.
Two. Whether anyone bought it twice. A first contract fits a real market and a lucky accident equally well. What separates them is the second order: who came back, how long it took, and whether it was a fresh contract or a call-off under the first one.
Three. What would change the answer. Where the company sits on the framework, what share of its revenue rests on public programmes, and what the line looks like if one of those ends. Then the questions no public source can settle, written for you to put to management, with the answer that would satisfy each one and the answer that should not.
Ten to fifteen pages and an hour on a call, in two to three weeks. Every claim dated and traceable, and a plain list of what the record does not show. None of it needs the target's cooperation.
Anyone can report that a target names no customer on its own site. 49 of the 98 European space companies I audited don't, so on its own that says little. The figures and the method are published in full.
I work either for a company or for a party assessing it, never both, and a finding is not softened on request. Assessed companies are never named in published work, and no dataset moves because of an engagement.
It is commercial research, not investment advice: no valuation, no view on the round or its terms, no recommendation either way.
For investors, boards and acquirers assessing a European space or deep-tech company
One target, with sources throughout, so your own team can check any line of it. No hourly rates, no fund retainers, no seat on an investment committee.
If the public record cannot carry a target, you hear that on the call, not after the invoice.
Tell me which company. I will say on the call what the public record can settle and what it cannot.