Scope

Budget vs Actual vs Forecast · FY26

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


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

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 3.6M

+6.4% vs plan CHF 3.3M

Y1 EBITDA

CHF 1M

+13.6% vs plan CHF 882.6K

IC Memo Summary

Ticketcounter B.V. acquired 2024-11 at 6.5x TTM EBITDA (EV €5.8M). Y1 actual revenue €3.56M (106% of underwriting €3.35M). Integration status: fully integrated.

FLAGGED

1 synergy delivered or ahead — confidence on remaining plan.

Underwritten vs Actual

Revenue · plan is dashed

ActualUnderwriting planY1 actual CHF 3.6M = 106% of plan

Year	Actual	Plan	Variance
Y1	CHF 3.6M	CHF 3.3M	CHF 213.8K
Y2	Not reported	CHF 3.9M	—

Synergy Tracker

1 synergy · 104% realised

CHF 470,000

of CHF 450,000 target

Description	Owner	Target	Delivered	Status	Due
	Thomas Brunner (Group Operations)	CHF 450,000	CHF 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 3.6M	CHF 2.2M	CHF 3.6M
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

+ Request a connection

OPERATING PERFORMANCE

Operating Metrics

Software

Net Revenue Retention

109.1%

Sept 25 – Sept 26

ARR Growth

27.5%

Sept 25 – Sept 26

Rule of 40

81.7%

Sept 25 – Sept 26

R&D Share of Revenue

18.2%

Sept 25 – Sept 26

GMV Take Rate

7.55%

Sept 25 – Sept 26

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Data freshnessAll synced

06:00 GMT

Last sync · 8/8 entities reporting