HCAT Valuations

Quarterly trend of key valuation metrics

Metric	Current (TTM) TTM Baseline	Q2 '26 30.06.2026	Q1 '26 31.03.2026	Q4 '25 31.12.2025
Market & Enterprise Value
Market Cap	133.2M EUR	148.45M EUR	93.66M EUR	172.15M EUR
Enterprise Value	198.24M EUR	257.84M EUR	204.37M EUR	292.57M EUR
Valuation Multiples
Trailing P/E	--	--	--	--
Forward P/E	236x	--	--	--
Price to Sales	0.46x	0.51x	0.31x	0.74x
Price to Book	1.31x	1.47x	0.68x	0.7x
EV/Revenue	0.68x	0.88x	0.68x	1.26x
EV/EBITDA	16.84x	12.18x	8.16x	15.01x
Price to FCF (P/FCF)	--	22.66x	--	--
EV/FCF	--	39.36x	--	--
FCF Yield	-36.52%	4.41%	-2.94%	-9.16%