Ticketcounter B.V.

NLEURAcquired Nov 2024Closed Nov 2024EUR

Integration CompleteActive

EV€5.8M

Multiple paid6.5x

Vendor loan€1.5M at 5.0%

Exit multiple assumption8.5x

MULTIPLE JOURNEY

6.5xAcquired

8.5xGroup multiple

Y1 vs Underwriting

Ahead of plan

Y1 Revenue

CHF 3.4M

+6.4% vs plan CHF 3.2M

Y1 EBITDA

CHF 960.6K

+13.6% vs plan CHF 845.3K

IC Memo Summary

Ticketcounter B.V. acquired 2024-11 at 6.5x TTM EBITDA (EV €5.8M). Y1 actual revenue CHF 3.41M (106% of underwriting CHF 3.21M). Integration status: fully integrated. 1 synergy delivered or ahead of plan.

Underwritten vs Actual

Revenue · plan is dashed

ActualUnderwriting planY1 actual CHF 3.4M = 106% of plan

Year	Actual	Plan	Variance
Y1	CHF 3.4M	CHF 3.2M	CHF 204.7K
Y2	Not reported	CHF 3.7M	—

Synergy Tracker

1 synergy · 104% realised

CHF 470,000

of CHF 450,000 target

Description	Owner	Target (CHF)	Delivered (CHF)	Status	Due
	Thomas Brunner (Group Operations)	450,000	470,000100%	Delivered Ahead	Jun 2026

Total synergy target: CHF 450,000104% 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)	3.4M	2.2M	3.4M
Y1 EBITDA Margin	28.1%	22.4%	28.1%
Synergy Realisation	104%	86%	117%

Comparison includes 6 acquisitions with Y1 actuals reported

FINANCIAL SNAPSHOT (TTM)

TTM REVENUE

CHF 4.4M

ADJUSTED EBITDA

CHF 1.1M

EBITDA MARGIN

25.1%

CASH BALANCE

CHF 750K

HEADCOUNT

CUSTOMERS

310

Integration Gates

4 of 4

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

TSA EXIT TRACKER

ExitedApr 2025

ExitedJun 2025

All TSAs exited — integration complete

Data Connections

2 of 2 synced

ExactAccounting · Ticketcounter B.V.

4 hours ago

Ticketcounter platformOps · Ticketcounter

4 hours ago

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Budget vs Actual vs Forecast · FY26

Ticketcounter B.V. · YTD through Aug 2026 · CHF · forecast = YTD actual + remaining budget × 1.07


Revenue	3.1M	3.3M	+186.5K· +6.0%	4.5M	4.8M	+283.9K· +6.3%
Growth %	28.6%	36.3%	+7.7pp	28.6%	36.7%	+8.1pp
COGS	901.4K	957.7K	At risk+56.2K· +6.2%	1.3M	1.4M	At risk+84.5K· +6.5%
S&M	528.4K	526K	-2.4K· -0.5%	765K	779.2K	+14.2K· +1.9%
R&D	590.6K	593.1K	+2.4K· +0.4%	855K	876K	+21K· +2.5%
G&A	435.2K	430.9K	-4.3K· -1.0%	630K	639.4K	+9.4K· +1.5%
OpEx (total)	1.6M	1.6M	-4.2K· -0.3%	2.2M	2.3M	+44.5K· +2.0%
EBITDA	652.8K	787.3K	+134.5K· +20.6%	945K	1.1M	+154.9K· +16.4%
EBITDA %	21.0%	23.9%	+2.9pp	21.0%	23.0%	+2.0pp

OPERATING PERFORMANCE

Operating Metrics

Software

Net Revenue Retention

109.1%

Sep 25 – Aug 26

ARR Growth

27.5%

Sep 25 – Aug 26

Rule of 40

81.7%

Sep 25 – Aug 26

R&D Share of Revenue

18.2%

Sep 25 – Aug 26

GMV Take Rate

7.55%

Sep 25 – Aug 26

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Data freshnessAll synced

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