| Select LTM Revenue Multiple | | | | | | | | |
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| Benchmark Companies | | | |
| RLVNC | TRAD | ADVT | SOCIAL | AWRD | | DST | |
| NGM:RLVNC | OM:TRAD | NGM:ADVT | NGM:SOCIAL | NGM:AWRD | | DB:DST | |
| Historical Revenue Growth | | | | | | | | |
| 5Y CAGR | 36.7% | 12.2% | 306.5% | 91.0% | 34.1% | | 15.3% | |
| 3Y CAGR | 51.9% | 13.9% | 217.1% | 1.5% | 35.4% | | 13.2% | |
| Latest Twelve Months | 389.1% | 6.1% | 87.6% | -3.4% | 14.2% | | 8.8% | |
| | | | | | | | |
| Historical EBIT Profit Margin | | | | | | | | |
| 5 Year Average Margin | -15.4% | 1.9% | -499.6% | -262.2% | 7.2% | | -6.6% | |
| Prior Fiscal Year | -47.6% | 2.0% | -145.4% | -339.7% | 3.4% | | -2.5% | |
| Latest Fiscal Year | 2.4% | 0.9% | -15.2% | -109.1% | 3.1% | | 8.2% | |
| Latest Twelve Months | 2.4% | 0.9% | -2.9% | -109.1% | 3.1% | | 8.2% | |
| | | | | | | | |
| Current Trading Multiples | | | | | | | | |
| EV / LTM Revenue | 0.83x | 0.15x | 0.73x | 0.01x | 0.63x | | 1.74x | |
| EV / LTM EBIT | 35.1x | 15.8x | -25.2x | 0.0x | 20.4x | | 21.3x | |
| Price / LTM Sales | 0.77x | 0.14x | 0.39x | 0.04x | 0.77x | | 1.91x | |
| | | | | | | | |
| | | | | | | | |
| Low | Mid | High | | | | | |
| | | | | | | | |
| Benchmark EV / LTM Revenue | 0.01x | 0.63x | 0.83x | | | | | |
| Historical EV / LTM Revenue | 1.00x | 1.74x | 6.75x | | | | | |
| | | | | | | | |
| Selected EV / LTM Revenue | 2.12x | 2.23x | 2.34x | | | | | |
| (x) LTM Revenue | 3,798 | 3,798 | 3,798 | | | | | |
| (=) Implied Enterprise Value | 8,053 | 8,476 | 8,900 | | | | | |
| (-) Non-shareholder Claims * | 623 | 623 | 623 | | | | | |
| (=) Equity Value | 8,676 | 9,099 | 9,523 | | | | | |
| (/) Shares Outstanding | 77.2 | 77.2 | 77.2 | | | | | |
| Implied Value Range | 112.45 | 117.94 | 123.44 | | | | | |
| FX Rate: SEK/EUR | 10.8 | 10.8 | 10.8 | | Market Price | | | |
| Implied Value Range (Trading Cur) | 10.38 | 10.89 | 11.40 | | 8.58 | | | |
| Upside / (Downside) | 21.1% | 27.0% | 32.9% | | | | | |