PSIX Hawk EV/EBITDA valuation

Sources

1. FY2025 sales were $722.4M and FY2025 adjusted EBITDA was $116.3M. — modeledge.ai
2. Q1 2026 sales were $128.6M and adjusted EBITDA was $13.9M, down from $26.1M in Q1 2025. — modeledge.ai
3. At March 31, 2026, cash was $45.1M, the revolver was $95.0M, other debt and finance leases were about $8.4M, and shares outstanding were 23.051M. — modeledge.ai
4. Base case assumes 2026 sales of $760M, 13.5% adjusted EBITDA margin, and a 9.5x EV/EBITDA multiple, balancing FY2025 record results against Q1 2026 margin compression and execution risk. — modeledge.ai