Q2/1H 2025 - Topicus.com - Analysis
EBITA margin supported by Sygnity + revisiting the expected IRR from Cipal Schaubroeck deal
Yesterday, Topicus.com (or TOI) announced its Q2 2025 results. We’ve been covering the CSI family on our Substack for quite a while, including our deep dives and the December 2024 interview on the Capital Compounders Show.
In this recap, we’ll cover:
Financial highlights: organic growth, total growth, profitability, and breakdown;
M&A capital deployment including and excluding Cipal Schaubroeck, and trends;
Revisiting the expected IRRs from the Cipal Schaubroeck deal;
Updated valuation model for TOI