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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 | $701.9M | $645.8M | $635.4M | $641.8M | $654.6M |
| % growth | 11.5% | 10.3% | 9.3% | -14.4% | -8.0% | -1.6% | 1.0% | 2.0% | |
| Direct costs / COGS | $183.0M | $190.4M | $202.5M | $213.2M | $212.0M | $204.1M | $196.3M | $193.8M | $193.1M |
| Gross profit (NOI for real estate) | $427.0M | $489.6M | $547.5M | $606.8M | $489.9M | $441.7M | $439.1M | $448.0M | $461.5M |
| % margin | 70.0% | 72.0% | 73.0% | 74.0% | 69.8% | 68.4% | 69.1% | 69.8% | 70.5% |
| Operating expenses (cash, adjusted) | $262.3M | $292.4M | $322.5M | $352.6M | $301.8M | $277.7M | $273.2M | $276.0M | $281.5M |
| EBITDA (company-adjusted basis) | $164.7M | $197.2M | $225.0M | $254.2M | $188.1M | $164.0M | $165.8M | $172.0M | $180.0M |
| % margin | 27.0% | 29.0% | 30.0% | 31.0% | 26.8% | 25.4% | 26.1% | 26.8% | 27.5% |
| D&A | $30.5M | $34.0M | $37.5M | $41.0M | $35.1M | $32.3M | $31.8M | $32.1M | $32.7M |
| 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 | $153.0M | $131.7M | $134.1M | $139.9M | $147.3M |
| Interest expense | $38.4M | $40.7M | $43.0M | $45.2M | $58.7M | $57.1M | $55.5M | $55.1M | $54.6M |
| EBT | $95.8M | $122.5M | $144.5M | $168.0M | $94.3M | $74.6M | $78.5M | $84.8M | $92.7M |
| Taxes | $23.9M | $30.6M | $36.1M | $42.0M | $23.6M | $18.7M | $19.6M | $21.2M | $23.2M |
| Net income (model basis) | $71.8M | $91.9M | $108.4M | $126.0M | $70.7M | $56.0M | $58.9M | $63.6M | $69.5M |
| Capex | $18.3M | $20.4M | $22.5M | $24.6M | $16.8M | $15.5M | $15.3M | $15.4M | $15.7M |
| Working capital & other cash items | $2.5M | $3.5M | $3.5M | $3.5M | ($1.7M) | $1.1M | $3.3M | $4.2M | $4.6M |
| Free cash flow | $81.5M | $102.0M | $119.9M | $138.9M | $90.7M | $71.7M | $72.1M | $76.1M | $82.0M |
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 |