Leaddesk: Still executing the profitability phase - SEB
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Leaddesk: Still executing the profitability phase - SEB

Leaddesk’s Q3 boosts confidence in the company’s ability to improve profits, which are necessary for investing in future growth. The European market remains fragmented and Leaddesk is on a good journey of being an active consolidator in the market, which we think will eventually consist of a few players. Leaddesk is trading at 7.6x current year EBITDA. However, with the profitability track continuing, the multiple drops to 5x by 2027E.

Leaddesk’s Q3 boosts confidence in the company’s ability to improve profits, which are necessary for investing in future growth. The European market remains fragmented and Leaddesk is on a good journey of being an active consolidator in the market, which we think will eventually consist of a few players. Leaddesk is trading at 7.6x current year EBITDA. However, with the profitability track continuing, the multiple drops to 5x by 2027E.
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