Bargain Hunter

Common sense investing. I occasionally write about investment opportunities. Not investment advice

[Bargain Hunter @BargainHunter07]

@Lord_of_Biotech Wasn't the $18 offer rejected recently?

[Bargain Hunter @BargainHunter07]

@KairosPraxis @Atrium_Research It's a monster in the making. I'm surprised it's still undiscovered by many

[Kairos @KairosPraxis]

$IFA.TO For a $150M microcap, the number of catalysts/growth vectors that iFabric has lined up, is unbelievable (h/t @Atrium_Research):

1. Coming soon: Scrubs sold at second major US retailer (🎯)
2. Currently focused on Costco in 🇨🇦 and EU/UK, but expect to see a new program at Costco US soon.
3. New category: Bedding and partnership with the Lad collective. Goes live late 2026. High margin and TAM in North America is 40B+.
4. Roots footwear, new category next year.
5. Intimate apparel brand at Target (sold out in 8 weeks) and Kohl's. Expect more products + program at Walmart. This is their highest margin division.
6. New non-textile/hard surface product.
7. International expansion: new offices in Asia + EU. This gonna be huge.
8. Appetite for Walmart expansion: currently at 1000/4000 stores. Could take longer.

Disclosure: Large position. Recently added at $4.05.

[Bargain Hunter @BargainHunter07]

@jpmontero88 To elaborate, we've only got a taste of the potential with q1 results. But there is so much more potential here... Further store expansion with Walmart and Costco, new retailers, new product categories, new industries, selling direct to hospitals, etc.

[Bargain Hunter @BargainHunter07]

@jpmontero88 I rarely experience a feeling similar to the one I had when reading about the business and listening investor presentations. I believe this could be worth 5x more in no more than 2y. The potential is huge and by reading through twitter and forums, it appears undiscovered $IFA.TO

[Wolf Of Oakville @WolfOfOakville]

$IFA.TO #2026WolfPick

Kaboom!

41x Net Income on nearly 4x more revenue:

https://t.co/SXQgt96Hlc

[Bargain Hunter @BargainHunter07]

@stocktavia @ragingbullcap Unfortunately, there are too many unknowns and that's why I'm being conservative. I'm not saying the stock price won't double or triple in the next 12 months, but way too much risk. Markets, however, only reward growth these days

[Bargain Hunter @BargainHunter07]

@stocktavia @ragingbullcap Don't forget you have the cyclicality of the industry, plus the evolving technology risk.

[Bargain Hunter @BargainHunter07]

@stocktavia @ragingbullcap Maybe it isn't. Difficult to say what the right multiple is. I wouldn't be surprised if the HK customer is trying to replicate the alghoritm as we speak. What multiple would you apply to a single customer business in the adtech industry?

[Bargain Hunter @BargainHunter07]

@BuffDawgg Sorry - not 500m but 600m, even worse.

[Bargain Hunter @BargainHunter07]

@BuffDawgg 15x multiple for an adtech business, growing 30% sequentially, at the peak of economic cycle makes no sense whatsoever. Fourth, 500m for media and spectrum business is pure stupidity. Just look at the EVC EV before the growth from ATS kicked in- it will tell you the value

[Bargain Hunter @BargainHunter07]

@KairosPraxis Re margins - I believe retail investors are overly critical. Put things into perspective. This business is likely going to hit 100m revenue mark and 15m EBITDA this year, implying a multiple of less than 3x, for a double-digit growing business

[Bargain Hunter @BargainHunter07]

@KairosPraxis Plus ofc less back-office processing work with quarterly vs monthly invoices for both sides

[Bargain Hunter @BargainHunter07]

@ragingbullcap Without that contribution, they are at ~$86m quarterly revenue, which is similar to Q4 and segment ebit in Q4 was roughly $11m, so call it ~$50m annual ebit. 10x multiple is $500m, plus 3x multiple on largest customer ebit of roughly 80m=740m

[Bargain Hunter @BargainHunter07]

@ragingbullcap Sorry - vs 2025, not 2024

[Bargain Hunter @BargainHunter07]

@Kreuzmann13 They definitely smashed it but I don't see anyone mentioning the risk that comes from having almost half of the segment revenue concentrated in one HK gaming customer (likely Tencent)...