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Northgate Software · NGS
DEMO DATAUNDERWRITING ASSUMPTIONHOLDFinancial statements DEMO DATA ANALYST PROJECTION
| $M | FY2022A | FY2023A | FY2024A | FY2025A | FY2026E | FY2027E | FY2028E | FY2029E | FY2030E |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | $610.0M | $680.0M | $750.0M | $820.0M | $893.8M | $974.2M | $1.1B | $1.2B | $1.3B |
| % growth | 11.5% | 10.3% | 9.3% | 9.0% | 9.0% | 9.0% | 9.0% | 9.0% | |
| Direct costs / COGS | $183.0M | $190.4M | $202.5M | $213.2M | $232.4M | $251.4M | $271.9M | $294.0M | $317.9M |
| Gross profit (NOI for real estate) | $427.0M | $489.6M | $547.5M | $606.8M | $661.4M | $722.9M | $790.1M | $863.5M | $943.7M |
| % margin | 70.0% | 72.0% | 73.0% | 74.0% | 74.0% | 74.2% | 74.4% | 74.6% | 74.8% |
| Operating expenses (cash, adjusted) | $262.3M | $292.4M | $322.5M | $352.6M | $384.3M | $418.9M | $456.6M | $497.7M | $542.5M |
| EBITDA (company-adjusted basis) | $164.7M | $197.2M | $225.0M | $254.2M | $277.1M | $304.0M | $333.4M | $365.8M | $401.2M |
| % margin | 27.0% | 29.0% | 30.0% | 31.0% | 31.0% | 31.2% | 31.4% | 31.6% | 31.8% |
| D&A | $30.5M | $34.0M | $37.5M | $41.0M | $44.7M | $48.7M | $53.1M | $57.9M | $63.1M |
| Share-based compensation | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M |
| EBIT | $134.2M | $163.2M | $187.5M | $213.2M | $232.4M | $255.3M | $280.3M | $307.9M | $338.1M |
| Interest expense | $38.4M | $40.7M | $43.0M | $45.2M | $45.2M | $43.8M | $42.3M | $42.0M | $41.7M |
| EBT | $95.8M | $122.5M | $144.5M | $168.0M | $187.2M | $211.5M | $238.0M | $265.9M | $296.5M |
| Taxes | $23.9M | $30.6M | $36.1M | $42.0M | $46.8M | $52.9M | $59.5M | $66.5M | $74.1M |
| Net income (model basis) | $71.8M | $91.9M | $108.4M | $126.0M | $140.4M | $158.6M | $178.5M | $199.4M | $222.4M |
| Capex | $18.3M | $20.4M | $22.5M | $24.6M | $26.8M | $29.2M | $31.9M | $34.7M | $37.9M |
| Working capital & other cash items | $2.5M | $3.5M | $3.5M | $3.5M | $3.7M | $4.0M | $4.4M | $4.8M | $5.2M |
| Free cash flow | $81.5M | $102.0M | $119.9M | $138.9M | $154.6M | $174.1M | $195.4M | $217.8M | $242.4M |
Historical columns are fictional demo inputs. Projections flow from the selected scenario’s assumptions (Scenarios tab): interest accrues on beginning balances by tranche; floating tranches use MAX(SOFR, floor) + spread + scenario shock; PIK accrues to principal. FCF = net income + D&A + SBC + PIK − capex − ΔNWC / other. Impairments, restructuring and other one-offs are excluded from EBITDA and net income and sit in the cash plug.
Sources & data lineage (3)
| Source | Document | Data type | Period | Accession | Doc date | Retrieved | Class |
|---|---|---|---|---|---|---|---|
| CreditIQ demo dataset | Northgate Software — illustrative financial statements FY2022–FY2025 | Income statement / cash flow | FY2022–FY2025 | — | 2026-03-31 | 2026-03-31 | DEMO DATA |
| CreditIQ demo dataset | Northgate Software — illustrative capital structure & covenants | Debt schedule | As of 2026-03-31 | — | 2026-03-31 | 2026-03-31 | DEMO DATA |
| CreditIQ demo dataset | Illustrative indicative bid marks (% of par) | Market price | 2026-03-31 | — | 2026-03-31 | 2026-03-31 | DEMO DATA |