@finansnovis.bsky.social
Is the 50-60% incremental margin something mgmt. mentioned? Assuming their software has 85% GM then the split would be ca. 60% software and 40% BPO services, based on the incremental margin you mention. Looking at peers ~2-2.5x sales is probably reasonable in that case, decent upside in that case
June 25, 2025 at 11:51 AM
Is the 50-60% incremental margin something mgmt. mentioned? Assuming their software has 85% GM then the split would be ca. 60% software and 40% BPO services, based on the incremental margin you mention. Looking at peers ~2-2.5x sales is probably reasonable in that case, decent upside in that case
Thank you! You're saying SaaS/services is 75% of sales, but while SaaS should have a 5x revenue multiple BPO companies trade at 0.5-1.0x, so the question is what the mix is..
June 25, 2025 at 11:48 AM
Thank you! You're saying SaaS/services is 75% of sales, but while SaaS should have a 5x revenue multiple BPO companies trade at 0.5-1.0x, so the question is what the mix is..
What is the gross margin? How much of revenues are BPO vs. SaaS? When I looked quickly I was not able to answer these questions clearly, and they have big implications for the valuation.
June 24, 2025 at 7:46 AM
What is the gross margin? How much of revenues are BPO vs. SaaS? When I looked quickly I was not able to answer these questions clearly, and they have big implications for the valuation.