Q1 Estimate - $22.2M Revenue w $4.1M EBITDAAdd in partial Cooley & Acadia acqusition and throw a futher point or two or organic growth QoQ and we are $22.2M which would be a solid 15% QoQ growth rate.
It will take a Q or 2 to intergrate the acquisitions into the exsisiting business so you might get a slight temp down tick on EBITDA margin so using a 18.5% figure which would be $4.1M which would be a solid 11% QoQ growth rate.
Double digit grower trading at 4x EBITDA with acquisition program to accelerate.
Keep an eye on FCF...as the business becomes more recurring in nature driven by more sales vs equipment the FCF profile should start to improve. This is what will drive the valuation expansion. Any update on bank financing or further acquisitions will be critical.