Canaccord Telco ReportGood to see Canaccord initiate coverage on...

Canaccord Telco Report

Good to see Canaccord initiate coverage on Unity @ $1.90 and a good write up in this detailed report.Yes UWL has run hard, but projected growth in an expanding market with good management should pave the way for SP growth.Also interesting comparison to other players in the Telco sector.

5GN standout from a valuation perspective with EV/EBITDA of 3.0, and trading < 1X revenue.
Also 5GN cost to acquire revenue and EBITDA through acquisition very underrated:

UWL: Paid $227M for $53M REV & $28M EDITDA
ST: Paid $19M for $11.5 REV & $4M EBITDA
5GN: Paid $22M for $60M REV & $7.5M EBITDA

Overall good write up of how these small Telco players are cutting into the market share of the big guys and grabbing their share of the expanding total addressable market.