Fantastic deep dive! Rate Gain seems like a classic “misunderstood growth story” high operating leverage, strong SaaS metrics (105% NRR, double-digit LTV/CAC), and dominant in a niche with long-term tailwinds like AI and global travel digitization. Near-term headwinds (client churn, rising S&M spend) explain the valuation dip, but the long-term runway and optionality from IGX-like inorganic plays are compelling. Could be a classic case of “good news vs good price.”
Fantastic deep dive! Rate Gain seems like a classic “misunderstood growth story” high operating leverage, strong SaaS metrics (105% NRR, double-digit LTV/CAC), and dominant in a niche with long-term tailwinds like AI and global travel digitization. Near-term headwinds (client churn, rising S&M spend) explain the valuation dip, but the long-term runway and optionality from IGX-like inorganic plays are compelling. Could be a classic case of “good news vs good price.”