Historical Growth ChallengesGIFT is not yet profitable and had low to negative growth in the past two years.
Profitability ConcernsGIFT trades at an EV/revenue multiple of 0.3x our '26E revenue vs. a peer group average of 1.3x, and a discount is warranted as GIFT is not yet profitable and had low to negative growth in the past two years.
Valuation ConcernsGIFT trades at an EV/revenue multiple of 0.3x our '26E revenue vs. a peer group average of 1.3x, indicating a valuation discount.