I'd value their 1.5 million customers at about $200/subscriber. ...something a little less than one year's fees due to the high churn rate. That's $300 million.
We won't see the numbers until their next quarterly report but they must have a big pile of cash from the IPO. For yucks, let's say their cash position, subtracting out any debt, is another $300 million.
The brand is worth something after all the money they've spent creating it. Call it $100 million since the brand is now associated with an IPO debacle and dubious service quality.
I get a company that should have a market cap of about $700 million. At the moment, their market cap is about $1.3 billion. That makes it a $5 stock, not a 50 cent stock. As they chew through their IPO cash, the number is going to decline but the near-term floor shouldn't be all that far away.