I think I found a stock that has a valuation that doesn't make sense? How is this possible?

I can't post the stock because it has a low market cap still, but it is growing rapidly and expected to reach profitability making over $200 million in net earnings next year (yes earnings - not revenue) and $400 million in earnings in 2027. It also has more cash on the balance sheet than market cap. It has over $100 million cash, but it is trading at below $100 million market cap. It has 0 debt. Institutional ownership is over 80% and keeps increasing. It also has a new product that is in development that is expected to produce over $1 billion in revenues soon to be released. How is this even possible?

400M net earnings expected in 2027, but trading below 100M market cap and has over 100M cash and 0 debt. And growing rapidly. Revenues increased 50% quarter over quarter for the past year and expected to keep increasing at this rate