Valuation Analysis

Category Assumptions Comments

2016A 2017-2024E
• (What are your justifications as to why you chose these specific ranges of
assumptions? Where do you see opportunity for growth/improvement?
EBITDA Margin
Do you believe the market is misunderstanding something? What do
analysts think? Why do you deviate?)

Cost of Revenues

Marketing & Sales

Technology &
Development

Operating Metric A

Operating Metric B

Purchases of PP&E

Purchases of
Intangibles