Key Differences Between Early-Stage and Late-Stage 409A Valuations Early-stage 409A valuations rely on limited financial history, emphasizing projections, market comparisons, and qualitative factors. Late-stage valuations use richer data, including revenue, profitability, and market traction. As companies mature, valuation methods shift from speculative to evidence-based, reducing discount rates and increasing precision. Governance expectations and audit scrutiny also become significantly tighter. https://409ai.federatedjournals.com/key-differences-between-early-stage-and-late-stage-409a-valuations/