Scope

Budget vs Actual vs Forecast · FY26

Giant Monkey GmbH · YTD through Aug 2026 · forecast = YTD actual + remaining budget


Revenue	CHF 2.4M	CHF 2.4M	+CHF 0.2· +0.0%	CHF 3.6M	CHF 3.6M	+CHF 0.2· +0.0%
Growth %	n/a	14.3%	n/a	14.3%	14.3%	+0.0pp
COGS	CHF 743.8K	CHF 745.2K	+CHF 1.4K· +0.2%	CHF 1.1M	CHF 1.1M	+CHF 1.4K· +0.1%
S&M	CHF 431.9K	CHF 431.9K	+CHF 50.4· +0.0%	CHF 648K	CHF 648.1K	+CHF 50.4· +0.0%
R&D	CHF 479.8K	CHF 480.5K	+CHF 674.2· +0.1%	CHF 720K	CHF 720.7K	+CHF 674.2· +0.1%
G&A	CHF 287.9K	CHF 288.3K	+CHF 356.6· +0.1%	CHF 432K	CHF 432.4K	+CHF 356.6· +0.1%
OpEx (total)	CHF 1.2M	CHF 1.2M	+CHF 1.1K· +0.1%	CHF 1.8M	CHF 1.8M	+CHF 1.1K· +0.1%
EBITDA	CHF 455.8K	CHF 453.3K	At risk-CHF 2.5K· -0.6%	CHF 684K	CHF 681.5K	-CHF 2.5K· -0.4%
EBITDA %	19.0%	18.9%	At risk-0.1pp	19.0%	18.9%	-0.1pp

Giant Monkey GmbH

DEEURAcquired Nov 2021Closed Nov 2021EUR

Integration CompleteActive

EV€3.9M

Multiple paid6x

Exit multiple assumption8.5x

MULTIPLE JOURNEY

6.0xAcquired

8.5xGroup multiple

Y1 vs Underwriting

On plan

Y1 Revenue

CHF 2.5M

+0.0% vs plan CHF 2.5M

Y1 EBITDA

CHF 440K

-2.2% vs plan CHF 450K

IC Memo Summary

Giant Monkey GmbH acquired 2021-11 at 6x TTM EBITDA (EV €3.9M). Y1 actual revenue €2.50M (100% of underwriting €2.50M). Y2 actual €2.75M (98%). Integration status: fully integrated.

Underwritten vs Actual

Revenue · plan is dashed

ActualUnderwriting planY3 actual CHF 3.2M = 102% of plan

Year	Actual	Plan	Variance
Y1	CHF 2.5M	CHF 2.5M	CHF 0
Y2	CHF 2.8M	CHF 2.8M	-CHF 50K
Y3	CHF 3.2M	CHF 3.1M	CHF 50K

Synergy Tracker

2 synergies · 38% realised

CHF 150,000

of CHF 390,000 target

Description	Owner	Target	Delivered	Status	Due
	Thomas Brunner (Group Operations)	CHF 300,000	CHF 90,00030%	In Progress	Mar 2027
	Thomas Brunner (Group Operations)	CHF 90,000	CHF 60,00067%	On Track	Sept 2026

Total synergy target: CHF 390,00038% realised to date

Cohort Comparison

This acquisition vs portfolio

	This acquisition	Portfolio average	Best sister
Y1 Revenue vs Plan	CHF 2.5M	CHF 2.2M	CHF 3.6M
Y1 EBITDA Margin	17.6%	22.4%	28.1%
Synergy Realisation	38%	86%	117%

Comparison includes 6 acquisitions with Y1 actuals reported

FINANCIAL SNAPSHOT (TTM)

TTM REVENUE

CHF 3.4M

ADJUSTED EBITDA

CHF 727.2K

EBITDA MARGIN

21.1%

CASH BALANCE

CHF 600K

HEADCOUNT

CUSTOMERS

260

Integration Gates

4 of 4

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

TSA EXIT TRACKER

ExitedJun 2022

ExitedSept 2022

All TSAs exited — integration complete

Data Connections

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OPERATING PERFORMANCE

Operating Metrics

Software

Net Revenue Retention

105.9%

Sept 25 – Sept 26

ARR Growth

15.3%

Sept 25 – Sept 26

Rule of 40

33.4%

Sept 25 – Sept 26

R&D Share of Revenue

20.0%

Sept 25 – Sept 26

GMV Take Rate

11.90%

Sept 25 – Sept 26

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