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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 | $780.6M | $761.9M | $796.2M | $812.1M | $828.4M |
| % growth | 11.5% | 10.3% | 9.3% | -4.8% | -2.4% | 4.5% | 2.0% | 2.0% | |
| Direct costs / COGS | $183.0M | $190.4M | $202.5M | $213.2M | $216.6M | $216.8M | $223.7M | $225.4M | $227.0M |
| Gross profit (NOI for real estate) | $427.0M | $489.6M | $547.5M | $606.8M | $564.0M | $545.1M | $572.5M | $586.8M | $601.4M |
| % margin | 70.0% | 72.0% | 73.0% | 74.0% | 72.2% | 71.5% | 71.9% | 72.3% | 72.6% |
| Operating expenses (cash, adjusted) | $262.3M | $292.4M | $322.5M | $352.6M | $335.7M | $327.6M | $342.4M | $349.2M | $356.2M |
| EBITDA (company-adjusted basis) | $164.7M | $197.2M | $225.0M | $254.2M | $228.3M | $217.5M | $230.1M | $237.5M | $245.2M |
| % margin | 27.0% | 29.0% | 30.0% | 31.0% | 29.3% | 28.5% | 28.9% | 29.3% | 29.6% |
| D&A | $30.5M | $34.0M | $37.5M | $41.0M | $39.0M | $38.1M | $39.8M | $40.6M | $41.4M |
| 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 | $189.3M | $179.4M | $190.3M | $196.9M | $203.8M |
| Interest expense | $38.4M | $40.7M | $43.0M | $45.2M | $52.0M | $50.4M | $48.9M | $48.5M | $48.1M |
| EBT | $95.8M | $122.5M | $144.5M | $168.0M | $137.3M | $129.0M | $141.4M | $148.4M | $155.6M |
| Taxes | $23.9M | $30.6M | $36.1M | $42.0M | $34.3M | $32.2M | $35.3M | $37.1M | $38.9M |
| Net income (model basis) | $71.8M | $91.9M | $108.4M | $126.0M | $103.0M | $96.7M | $106.0M | $111.3M | $116.7M |
| Capex | $18.3M | $20.4M | $22.5M | $24.6M | $22.2M | $21.7M | $22.7M | $23.1M | $23.6M |
| Working capital & other cash items | $2.5M | $3.5M | $3.5M | $3.5M | ($0.4M) | $0.6M | $3.3M | $2.4M | $2.5M |
| Free cash flow | $81.5M | $102.0M | $119.9M | $138.9M | $120.2M | $112.5M | $119.8M | $126.3M | $132.1M |
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 |