If you click the two links, it explains in more detail the how. Essentially they have developed a set of GAAP-like metrics for early-stage companies, such as MR

If you click the two links, it explains in more detail the how. Essentially they have developed a set of GAAP-like metrics for early-stage companies, such as MRR, which they use for evaluation. It appears to be similar to investment firms using GAAP to evaluate public companies.