MODN - Model N: A Model For Value

• Shares of Model N have continued to trade sideways this year, despite fantastic results that have produced an impressive acceleration in growth.
• Though partially due to easier comps vs. the pandemic last year, Model N's mid-20s growth is far above its usual low-teens pace.
• The company has also been expanding its adjusted EBITDA margins over time.
• Model N's specific focus on two high-growth industries, technology and life sciences, positions it well for future expansion both within its existing customer base plus new customer adds.
• The stock trades at a compelling valuation of <6x forward revenue.

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