Professional
Added to YB: 2026-02-23
Pitch date: 2026-02-19
NCI.V [bullish]
NTG Clarity Networks Inc.
+2.65%
current return
Author Info
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Company Info
NTG Clarity Networks Inc., together with its subsidiaries, provides network, telecom, IT, and infrastructure solutions to medium and large network service providers in Canada, North America, Iraq, Saudi Arabia, Egypt, and Oman.
Market Cap
CAD 51.6M
Pitch Price
CAD 1.13
Price Target
2.50 (+125%)
Dividend
N/A
EV/EBITDA
4.36
P/E
7.55
EV/Sales
0.66
Sector
Software
Category
growth
NTG Clarity – High Growth and Increasing Margins Meets Compelling Valuation
NCI.V (initiation): IT services co w/ 60%+ 3yr rev CAGR serving Saudi Vision 2030 ($1.3T investments). $78M 2025E rev (+43% YoY), $96M 2026E (+19%). 90% retention, 85% recurring rev, $88M backlog. Margins compressed to 12-16% from workforce expansion to 1,300 but proven 22% peak. 3.7x 2026E EBITDA vs peers 6.5x despite leading 42% CAGR (peers 5%). $2.50 target (8.5x), 38%+ upside from EBITDA growth alone. Risks: 96% Saudi concentration, geopolitical, margin volatility.
Read full article (22 min)