Scope

Budget vs Actual vs Forecast · FY26

EPOS Systems Ltd · YTD through Aug 2026 · forecast = YTD actual + remaining budget × 0.92


Revenue	CHF 1.7M	CHF 1.6M	At risk-CHF 100.5K· -6.0%	CHF 2.7M	CHF 2.5M	At risk-CHF 182.5K· -6.8%
Growth %	n/a	18.0%	n/a	25.6%	17.1%	At risk-8.5pp
COGS	CHF 887.4K	CHF 831.9K	-CHF 55.5K· -6.3%	CHF 1.4M	CHF 1.3M	-CHF 99K· -6.9%
S&M	CHF 200.9K	CHF 203.2K	At risk+CHF 2.3K· +1.1%	CHF 324K	CHF 316.4K	-CHF 7.6K· -2.3%
R&D	CHF 134K	CHF 135.8K	At risk+CHF 1.8K· +1.3%	CHF 216K	CHF 211.2K	-CHF 4.8K· -2.2%
G&A	CHF 234.4K	CHF 238.5K	At risk+CHF 4.1K· +1.8%	CHF 378K	CHF 370.6K	-CHF 7.4K· -1.9%
OpEx (total)	CHF 569.3K	CHF 577.5K	At risk+CHF 8.2K· +1.4%	CHF 918K	CHF 898.3K	-CHF 19.7K· -2.1%
EBITDA	CHF 217.7K	CHF 164.6K	At risk-CHF 53.1K· -24.4%	CHF 351K	CHF 287.2K	At risk-CHF 63.8K· -18.2%
EBITDA %	13.0%	10.5%	At risk-2.5pp	13.0%	11.4%	At risk-1.6pp

EPOS Systems Ltd

GBGBPAcquired Oct 2024Closed Oct 2024

in progressNeeds Attention

EV£1.7M

Multiple paid4.4x

Vendor loan£500K at 6.0%

Exit multiple assumption8.5x

MULTIPLE JOURNEY

4.4xAcquired

8.5xGroup multiple

Y1 vs Underwriting

Behind plan

Y1 Revenue

CHF 1.8M

-7.0% vs plan CHF 1.9M

Y1 EBITDA

CHF 415.3K

-3.0% vs plan CHF 428.1K

IC Memo Summary

EPOS Systems Ltd acquired 2024-10 at 4.4x TTM EBITDA (EV £1.7M). Y1 actual revenue £1.81M (93% of underwriting £1.94M). Integration status: in-progress.

FLAGGED

1 synergy delivered or ahead — confidence on remaining plan.

Underwritten vs Actual

Revenue · plan is dashed

ActualUnderwriting planY1 actual CHF 1.8M = 93% of plan

Year	Actual	Plan	Variance
Y1	CHF 1.8M	CHF 1.9M	-CHF 136K
Y2	Not reported	CHF 2.2M	—

Synergy Tracker

1 synergy · 117% realised

CHF 410,000

of CHF 350,000 target

Description	Owner	Target	Delivered	Status	Due
	Thomas Brunner (Group Operations)	CHF 350,000	CHF 410,000100%	Delivered Ahead	Aug 2026

Total synergy target: CHF 350,000117% realised to date

All synergies delivered or on track

Cohort Comparison

This acquisition vs portfolio

	This acquisition	Portfolio average	Best sister
Y1 Revenue vs Plan	CHF 1.8M	CHF 2.2M	CHF 3.6M
Y1 EBITDA Margin	23.0%	22.4%	28.1%
Synergy Realisation	117%	86%	117%

Comparison includes 6 acquisitions with Y1 actuals reported

FINANCIAL SNAPSHOT (TTM)

TTM REVENUE

CHF 2.4M

ADJUSTED EBITDA

CHF 343.5K

EBITDA MARGIN

14.4%

CASH BALANCE

CHF 350K

HEADCOUNT

CUSTOMERS

720

Integration Gates

4 of 4

Day 1Complete
Day 30Complete
Day 100Complete
Day 365Complete

TSA EXIT TRACKER

ExitedMay 2025

In Progress

1 TSA remaining

Data Connections

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OPERATING PERFORMANCE

Operating Metrics

Software

Net Revenue Retention

102.7%

Sept 25 – Sept 26

ARR Growth

14.0%

Sept 25 – Sept 26

Rule of 40

31.5%

Sept 25 – Sept 26

R&D Share of Revenue

8.5%

Sept 25 – Sept 26

GMV Take Rate

8.24%

Sept 25 – Sept 26

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