Quick Pitch #17

Cheap SaaS business with solid operating momentum & inflecting earnings

Hello, Ultimate Value readers!

I am back with a new idea today. Here are some of the takeaways:

• The idea is more suitable for small funds, given an ADTV of ~$1.2m.

• Revenue has accelerated three quarters in a row, and next Q’s guidance suggests further acceleration.

• The company is adjusted EBIT profitable and FCF positive. It improved margins by 40 points over the last two years while growing top-line LDD.

• The company trades at 2.5x 2025 ARR, below SaaS peers despite a better margin and growth profile.

Let’s take a look.