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Shares of Model N are on a rebound trend as the company continues to execute strong results.
In its most recent quarter, Model N sustained its >20% y/y revenue growth while also producing mid-teens adjusted EBITDA margins.
The company notes that its most recent quarter was its best ever for gross bookings. In addition, net retention rates have also soared, indicating upsell success.
Model N still looks cheap at ~4.5x forward revenue.