CEO knows what he has. He definitely isn't selling it cheap. In the last earnings call, he inferred where he thought FY22 revenues would be. His inference gives me $1.40 valuation + 30% takeover premium = $1.82
Today's deal is all about accessing distribution fast. Xref now has immediate access to 3000 new clients, bar any crossover. Long term I see this being a $1bln company as XF1 expands into complementary verticals. Before you laugh at that, First Advantage has a USD2.8bln mkt cap and is growing sales 40-60% YoY, rising tides lift all boats.
XF1 Price at posting:
69.0¢ Sentiment: Buy Disclosure: Held
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