Added to YB: 2026-03-05
Pitch date: 2026-03-03
4165.T [neutral]
PLAID,Inc.
-1.31%
current return
Author Info
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Company Info
PLAID,Inc. develops and operates KARTE, a customer experience (CX) SaaS platform in Japan. It provides KARTE CX platform, which provides real-time analytics for on-site personalization, multi-channel campaigns, and targeted ad delivery; PLAID ALPHA, which delivers data-driven strategic planning and implementation; STUDIO ZERO, a strategic planning and business development service; EmotionTechCX, a survey and analysis service for customer loyalty and CX; and EmotionTechEX, a survey and analysis service for employee engagement and organizational transformation.
Market Cap
JPY 22.8B
Pitch Price
JPY 533.00
Price Target
N/A
Dividend
N/A
EV/EBITDA
14.09
P/E
22.72
EV/Sales
1.39
Sector
Software
Category
growth
Plaid (4165.JP) Update 2
Plaid 4165.T (update): Q1 rev +15.9% YoY (organic ~16.9% ex-Cloudfit acq). NRR improved 105%→107% as SMB churn stabilizes (80% vs low-70s Q4). Enterprise NRR steady ~115% but new biz wins slowed (18.7% ARR growth, 10Q low). Hiring sales consultants for upsells/cross-sells, not new logos. Service rev 17% of total at mid-70% GM. Risk: FY26 EBIT miss if Q2 SGA hits ¥2.7bn+ vs prior trends. Charges on active user profiles, not seats. AI threat limited by data moat (95% capex on data systems). Japan eng deficit protects vs US SaaSpocalypse.
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