Glad I could help! Eqvista definitely understands the challenges of valuing future growth for pre-revenue startups. In our case, they used a combination of methods:

Market Research: They conducted thorough research on our target market size, growth projections, and competitor landscape. This helped establish the overall potential of the market we were entering.

Financial Modeling: Eqvista built a financial model that factored in our product roadmap, potential customer acquisition costs, and revenue streams. This model helped estimate our future earning potential based on various growth scenarios.

Team Expertise: Eqvista did consider our founding team's experience and track record in the industry. This added credibility to our growth projections and instilled confidence in the overall valuation.

This might not be the exact framework they use for every startup, but it gives you a good idea of their process. Feel free to reach out to Eqvista (https://eqvista.com/409a-valuation/) directly for more specifics on their approach to your unique situation.