This company has been acquired

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Model N Past Earnings Performance

Past criteria checks 3/6

Model N's earnings have been declining at an average annual rate of -10.3%, while the Software industry saw earnings growing at 14.2% annually. Revenues have been growing at an average rate of 13.4% per year. Model N's return on equity is 0.2%, and it has net margins of 0.1%.

Key information

-10.3%

Earnings growth rate

-6.5%

EPS growth rate

Software Industry Growth	17.3%
Revenue growth rate	13.4%
Return on equity	0.2%
Net Margin	0.1%
Last Earnings Update	31 Mar 2024

Recent past performance updates

Recent updates

Model N, Inc. (NYSE:MODN) Just Reported First-Quarter Earnings: Have Analysts Changed Their Mind On The Stock?

Feb 09

Model N Is Dead Money, Recent Downside Will Likely Continue

Jan 10

Model N: A Resilient Growth Story In Revenue Management Solutions

Oct 16

Is Model N (NYSE:MODN) Using Too Much Debt?

Sep 27

Model N: Where Do We Go From Here? (Ratings Downgrade)

Aug 22

Unpleasant Surprises Could Be In Store For Model N, Inc.'s (NYSE:MODN) Shares

Jul 17

We Think Model N (NYSE:MODN) Has A Fair Chunk Of Debt

Jun 15

Calculating The Intrinsic Value Of Model N, Inc. (NYSE:MODN)

Apr 10

This Is Why Shareholders Will Hold Back On A Pay Rise For Model N, Inc.'s (NYSE:MODN) CEO This Year

Feb 10

Is Model N (NYSE:MODN) Using Debt Sensibly?

Jan 13

Model N: Fundamentals Don't Support Valuation

Dec 20

Is Model N (NYSE:MODN) Weighed On By Its Debt Load?

Sep 28

Model N: Little Reason To Stay Invested

Sep 20

Estimating The Fair Value Of Model N, Inc. (NYSE:MODN)

Aug 06

Model N: Downgrading To Neutral On Deceleration

Jul 06

Health Check: How Prudently Does Model N (NYSE:MODN) Use Debt?

Jun 14

Revenue & Expenses Breakdown

How Model N makes and spends money. Based on latest reported earnings, on an LTM basis.

Earnings and Revenue History

NYSE:MODN Revenue, expenses and earnings (USD Millions)
Date	Revenue	Earnings	G+A Expenses	R&D Expenses
31 Mar 24	256	0	100	49
31 Dec 23	254	-32	99	48
30 Sep 23	249	-34	97	48
30 Jun 23	244	-43	96	49
31 Mar 23	236	-52	96	50
31 Dec 22	227	-26	92	49
30 Sep 22	219	-29	87	48
30 Jun 22	212	-27	82	47
31 Mar 22	207	-28	80	47
31 Dec 21	202	-31	78	47
30 Sep 21	193	-30	74	45
30 Jun 21	183	-27	71	41
31 Mar 21	174	-22	68	38
31 Dec 20	165	-16	68	35
30 Sep 20	161	-14	68	34
30 Jun 20	156	-16	68	34
31 Mar 20	150	-16	65	33
31 Dec 19	145	-18	62	31
30 Sep 19	141	-19	60	30
30 Jun 19	141	-17	61	29
31 Mar 19	146	-30	74	30
31 Dec 18	151	-28	75	31
30 Sep 18	155	-28	78	32
30 Jun 18	154	-34	77	33
31 Mar 18	148	-29	70	33
31 Dec 17	142	-37	77	34
30 Sep 17	131	-40	75	31
30 Jun 17	124	-38	75	29
31 Mar 17	118	-36	72	27
31 Dec 16	111	-33	64	24
30 Sep 16	107	-33	62	24
30 Jun 16	104	-30	59	22
31 Mar 16	100	-27	56	21
31 Dec 15	96	-23	54	19
30 Sep 15	94	-20	52	18
30 Jun 15	89	-21	51	18
31 Mar 15	84	-22	50	18
31 Dec 14	82	-22	48	18
30 Sep 14	82	-21	46	19
30 Jun 14	89	-14	42	18
31 Mar 14	97	-6	39	18
31 Dec 13	101	-3	38	18
30 Sep 13	102	-1	37	17
30 Jun 13	97	-1	35	17

Quality Earnings: MODN has high quality earnings.

Growing Profit Margin: MODN became profitable in the past.

Free Cash Flow vs Earnings Analysis

Past Earnings Growth Analysis

Earnings Trend: MODN has become profitable over the past 5 years, growing earnings by -10.3% per year.

Accelerating Growth: MODN has become profitable in the last year, making the earnings growth rate difficult to compare to its 5-year average.

Earnings vs Industry: MODN has become profitable in the last year, making it difficult to compare its past year earnings growth to the Software industry (23.1%).

Return on Equity

High ROE: MODN's Return on Equity (0.2%) is considered low.

Return on Assets

Return on Capital Employed

Discover strong past performing companies

Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2024/06/26 16:35
End of Day Share Price	2024/06/26 00:00
Earnings	2024/03/31
Annual Earnings	2023/09/30

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

^* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Model N, Inc. is covered by 17 analysts. 8 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

Analyst	Institution
Ilya Grozovsky	B. Riley Wealth
Eugene Mannheimer	Colliers Securities
Chad Bennett	Craig-Hallum Capital Group LLC

This company has been acquired

Model N Past Earnings Performance

Past criteria checks 3/6

Key information

Recent past performance updates

Model N, Inc. to Report Q2, 2024 Results on May 06, 2024

First quarter 2024 earnings: EPS and revenues exceed analyst expectations

Model N, Inc. to Report Q1, 2024 Results on Feb 06, 2024

Full year 2023 earnings released: US$0.89 loss per share (vs US$0.78 loss in FY 2022)

Model N, Inc. to Report Q4, 2023 Results on Nov 09, 2023

Third quarter 2023 earnings: EPS and revenues exceed analyst expectations

Recent updates

Vista Equity Partners Management, LLC completed the acquisition of Model N, Inc. (NYSE:MODN) from group of shareholders.

Model N Introduces New Rebate Enhancement, as Pharma Companies Prepare for Impact from the Inflation Reduction Act

Model N, Inc. to Report Q2, 2024 Results on May 06, 2024

ClearBridge Investments Sends Letter Urging Board of Directors of Model N to Reconsider Proposed Acquisition by Vista Equity Partners

Model N, Inc. Agrees to Go Private in $1.25 Billion Deal

Vista Equity Partners Management, LLC entered into a definitive agreement to acquire Model N, Inc. (NYSE:MODN) for $1.3 billion.

Is Model N (NYSE:MODN) Using Too Much Debt?

Model N: Unspectacular But Steady (Rating Upgrade)

Chief Revenue Officer notifies of intention to sell stock

Getting In Cheap On Model N, Inc. (NYSE:MODN) Is Unlikely

CEO & Director recently sold US$724k worth of stock

CEO & Director notifies of intention to sell stock

Independent Director recently sold US$134k worth of stock

Independent Director notifies of intention to sell stock

Model N, Inc. (NYSE:MODN) Just Reported First-Quarter Earnings: Have Analysts Changed Their Mind On The Stock?

First quarter 2024 earnings: EPS and revenues exceed analyst expectations

Model N, Inc. Provides Earnings Guidance for the Second Quarter of the Fiscal Year 2024 Ending March 31, 2024 and the Full Fiscal Year Ending September 30, 2024

Model N Launches Price Management to Help High-Tech Companies Streamline Pricing

Model N, Inc. to Report Q1, 2024 Results on Feb 06, 2024

Model N Is Dead Money, Recent Downside Will Likely Continue

Model N, Inc., Annual General Meeting, Feb 15, 2024

Price target decreased by 8.6% to US$30.67

Senior VP & Chief Revenue Officer recently sold US$246k worth of stock

Price target decreased by 7.9% to US$31.22

President recently sold US$216k worth of stock

Forecast breakeven date moved forward to 2024

Model N, Inc. Provides Earnings Guidance for the First Quarter Ending December 31, 2023 and the Full Fiscal Year Ending September 30, 2024

Full year 2023 earnings released: US$0.89 loss per share (vs US$0.78 loss in FY 2022)

Model N Launches Channel Collaboration to Strengthen Visibility for High-Tech Manufacturers and Their Channel Partners

Model N, Inc. to Report Q4, 2023 Results on Nov 09, 2023

Model N: A Resilient Growth Story In Revenue Management Solutions

Chief Services Officer notifies of intention to sell stock

Is Model N (NYSE:MODN) Using Too Much Debt?

Model N: Where Do We Go From Here? (Ratings Downgrade)

President recently sold US$269k worth of stock

Consensus EPS estimates upgraded to US$0.81 loss

Forecast to breakeven in 2025

Third quarter 2023 earnings: EPS and revenues exceed analyst expectations

Model N, Inc. Provides Earnings Guidance for the Fourth Quarter and the Full Fiscal Year Ending September 30, 2023

Unpleasant Surprises Could Be In Store For Model N, Inc.'s (NYSE:MODN) Shares

Model N, Inc. to Report Q3, 2023 Results on Aug 08, 2023

Model N, Inc.(NYSE:MODN) dropped from Russell 2000 Defensive Index

We Think Model N (NYSE:MODN) Has A Fair Chunk Of Debt

Senior VP & Chief People Officer notifies of intention to sell stock

Senior VP & Chief People Officer notifies of intention to sell stock

President recently sold US$359k worth of stock

Model N Announces Its Spring 2023 Product Release for Life Sciences and High-Tech Customers

Consensus EPS estimates fall by 243%

Second quarter 2023 earnings: Revenues exceed analysts expectations while EPS lags behind

Model N, Inc. Provides Earnings Guidance for the Third Quarter Ending June 30, 2023 and the Full Fiscal Year Ending September 30, 2023

Calculating The Intrinsic Value Of Model N, Inc. (NYSE:MODN)

Chief Financial Officer notifies of intention to sell stock

Senior VP & Chief People Officer notifies of intention to sell stock

Independent Director recently sold US$124k worth of stock

Independent Director notifies of intention to sell stock

This Is Why Shareholders Will Hold Back On A Pay Rise For Model N, Inc.'s (NYSE:MODN) CEO This Year

First quarter 2023 earnings: EPS and revenues exceed analyst expectations

Model N, Inc. Provides Revenue Guidance for the Second Quarter Fiscal Year 2023 Ending March 31, 2023 and the Full Fiscal Year Ending September 30, 2023

Insufficient new directors

Model N, Inc. to Report Q1, 2023 Results on Feb 07, 2023

Is Model N (NYSE:MODN) Using Debt Sensibly?

Chief Services Officer notifies of intention to sell stock

Model N, Inc., Annual General Meeting, Feb 16, 2023

Model N: Fundamentals Don't Support Valuation

Senior VP & Chief Product Officer recently sold US$792k worth of stock

Independent Director notifies of intention to sell stock

Chief Strategy & Marketing Officer notifies of intention to sell stock

Full year 2022 earnings: EPS misses analyst expectations