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Metrics | Range | Conclusion |
---|---|---|
Selected LTM EBITDA Multiple | -8.6x - -9.5x | -9.0x |
Selected Fwd EBITDA Multiple | -0.5x - -0.6x | -0.6x |
Fair Value | $0.21 - $0.21 | $0.21 |
Upside | 63.0% - 59.5% | 61.2% |
Benchmarks | Ticker | Full Ticker |
Catena Media plc | 0RUE | LSE:0RUE |
Gambling.com Group Limited | GAMB | NasdaqGM:GAMB |
Better Collective A/S | BETCOS | BATS-CHIXE:BETCOS |
Audioboom Group plc | BOOM | AIM:BOOM |
BioRegenx, Inc. | BRGX | OTCPK:BRGX |
XLMedia PLC | XLMD.F | OTCPK:XLMD.F |
- | - | - |
Select LTM EBITDA Multiple | |||||||
Benchmark Companies | |||||||
0RUE | GAMB | BETCOS | BOOM | BRGX | XLMD.F | ||
LSE:0RUE | NasdaqGM:GAMB | BATS-CHIXE:BETCOS | AIM:BOOM | OTCPK:BRGX | OTCPK:XLMD.F | ||
Historical EBITDA Growth | |||||||
5Y CAGR | -47.1% | 63.9% | 31.6% | NM- | NM- | NM- | |
3Y CAGR | -70.0% | 43.1% | 25.8% | -16.7% | NM- | NM- | |
Latest Twelve Months | -93.8% | 37.9% | 0.3% | 106.4% | -27.2% | NM | |
Historical EBITDA Profit Margin | |||||||
5 Year Average Margin | 39.2% | 30.9% | 33.7% | -9.7% | 17.8% | 10.0% | |
Prior Fiscal Year | 32.9% | 27.7% | 33.2% | -25.6% | -99.8% | 5.2% | |
Latest Fiscal Year | 3.1% | 32.6% | 29.3% | 1.5% | -185.1% | NA | |
Latest Twelve Months | 3.1% | 32.6% | 29.3% | 1.5% | -185.1% | NA | |
Current Trading Multiples | |||||||
EV / LTM Revenue | 0.56x | 3.40x | 2.58x | 1.09x | 5.32x | -0.69x | |
EV / LTM EBITDA | 18.0x | 10.4x | 8.8x | 74.5x | -2.9x | -9.1x | |
EV / LTM EBIT | -12.8x | 11.4x | 13.2x | 76.2x | -1.9x | -8.9x | |
Low | Mid | High | |||||
Benchmark EV / LTM EBITDA | -2.9x | 10.4x | 74.5x | ||||
Historical EV / LTM EBITDA | -9.1x | 23.6x | 56.8x | ||||
Selected EV / LTM EBITDA | -8.6x | -9.0x | -9.5x | ||||
(x) LTM EBITDA | 0 | 0 | 0 | ||||
(=) Implied Enterprise Value | 0 | 0 | 0 | ||||
(-) Non-shareholder Claims * | 35 | 35 | 35 | ||||
(=) Equity Value | 35 | 35 | 35 | ||||
(/) Shares Outstanding | 137.7 | 137.7 | 137.7 | ||||
Implied Value Range | 0.25 | 0.25 | 0.25 | ||||
FX Rate: USD/USD | 1.0 | 1.0 | 1.0 | Market Price | |||
Implied Value Range (Trading Cur) | 0.25 | 0.25 | 0.25 | 0.13 | |||
Upside / (Downside) | 95.4% | 95.4% | 95.4% |
Equity Waterfall | |||||||
Benchmark Companies | |||||||
(in millions) | 0RUE | GAMB | BETCOS | BOOM | BRGX | XLMD.F | |
Enterprise Value | 27 | 432 | 1,533 | 73 | 10 | (17) | |
(+) Cash & Short Term Investments | 8 | 14 | 38 | 4 | 0 | 35 | |
(+) Investments & Other | 1 | 0 | 0 | 0 | 0 | 0 | |
(-) Debt | (22) | (28) | (346) | (1) | (2) | 0 | |
(-) Other Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | |
(-) Preferred Stock | 0 | 0 | 0 | 0 | (0) | 0 | |
(-) Other | 0 | 0 | 0 | 0 | 0 | 0 | |
Value of Common Equity | 14 | 418 | 1,225 | 76 | 8 | 18 | |
(/) Shares Outstanding | 75.7 | 34.8 | 61.2 | 16.4 | 957.0 | 137.7 | |
Implied Stock Price | 0.19 | 12.03 | 20.02 | 4.60 | 0.01 | 0.13 | |
FX Conversion Rate to Trading Currency | 0.09 | 1.00 | 0.09 | 1.33 | 1.00 | 1.00 | |
Implied Stock Price (Trading Cur) | 2.05 | 12.03 | 219.00 | 3.45 | 0.01 | 0.13 | |
Trading Currency | SEK | USD | SEK | GBP | USD | USD | |
FX Rate to Reporting Currency | 0.09 | 1.00 | 0.09 | 1.33 | 1.00 | 1.00 |