Valuation for IGTA - findataslice

	Inception Growth Acquisition Ltd (IGTA)
	Q2-CY2026	Q1-CY2026	Q4-CY2025	Q3-CY2025	Q2-CY2025	Q1-CY2025	Q4-CY2024	Q3-CY2024	Q2-CY2024	Q1-CY2024	Q4-CY2023	Q3-CY2023	Q2-CY2023	Q1-CY2023	Q4-CY2022	Q3-CY2022	Q2-CY2022	Q1-CY2022	Q4-CY2021	Q3-CY2021	Q2-CY2021	Q1-CY2021	Q4-CY2020	Q3-CY2020	Q2-CY2020	Q1-CY2020	Q4-CY2019	Q3-CY2019	Q2-CY2019	Q1-CY2019	Q4-CY2018	Q3-CY2018	Q2-CY2018	Q1-CY2018	Q4-CY2017	Q3-CY2017	Q2-CY2017	Q1-CY2017	Q4-CY2016	Q3-CY2016	Q2-CY2016	Q1-CY2016	Q4-CY2015	Q3-CY2015	Q2-CY2015	Q1-CY2015	Q4-CY2014	Q3-CY2014	Q2-CY2014
Balance Sheet Date			2025-Dec-31	2025-Sep-30	2025-Jun-30	2025-Mar-31	2024-Dec-31	2024-Sep-30	2024-Jun-30	2024-Mar-31	2023-Dec-31	2023-Sep-30	2023-Jun-30	2023-Mar-31		2022-Sep-30	2022-Jun-30	2022-Mar-31
Fiscal Period			Q4-FY2025	Q3-FY2025	Q2-FY2025	Q1-FY2025	Q4-FY2024	Q3-FY2024	Q2-FY2024	Q1-FY2024	Q4-FY2023	Q3-FY2023	Q2-FY2023	Q1-FY2023		Q3-FY2022	Q2-FY2022	Q1-FY2022
Close Price of Common Stock							11.77$	11.32$	11.20$	10.87$	10.64$	10.62$	10.35$	10.19$	10.13$	9.93$		9.84$
Market Cap of Common Stock							45,922,821$	44,167,063$	62,589,979$	60,745,810$
QoQ%							3.98%	(29.43%)	3.04%
YoY%
Common Shares Outstanding		2,800,211	2,637,500	2,637,500	2,637,500	2,637,500	2,637,500	2,637,500	2,637,500	2,637,500	2,637,500	2,637,500	2,637,500	2,637,500	2,637,500	2,637,500	2,637,500	2,637,500	2,637,500	2,587,500	2,587,500	2,587,500
QoQ%		6.17%	.00%	.00%	.00%	.00%	.00%	.00%	.00%	.00%	.00%	.00%	.00%	.00%	.00%	.00%	.00%	.00%	1.93%	.00%	.00%
YoY%		6.17%	.00%	.00%	.00%	.00%	.00%	.00%	.00%	.00%	.00%	.00%	.00%	.00%	.00%	1.93%	1.93%	1.93%
Price to Sales								16.13x	22.86x	22.19x
Price to Earnings							353.08x	75.41x	96.72x	82.86x
Price to Book							-	-	-	-
Total Revenue											423,962$	611,440$	576,883$	1,125,264$	884,353$	316,563$	6,225$	10,527$
QoQ%											(30.66%)	5.99%	(48.73%)	27.24%	179.36%	4,985.35%	(40.87%)
YoY%											(52.06%)	93.15%	9,167.20%	10,589.31%
TTM											2,737,549$	3,197,940$	2,903,063$	2,332,405$	1,217,668$
TTM_QoQ%											(14.40%)	10.16%	24.47%	91.55%
TTM_YoY%											124.82%
Gross Margin											100.00%	73.60%	100.00%	46.31%	100.00%	100.00%	100.00%	100.00%
QoQ											26.40%	(26.40%)	53.69%	(53.69%)	.00%	.00%	.00%
YoY											.00%	(26.40%)	.00%	(53.69%)
Operating Income			(161,772$)	(290,485$)	(503,808$)	(166,314$)	(340,883$)	(209,215$)	(203,825$)	(254,518$)				(862,141$)				(228,426$)
QoQ%			44.31%	42.34%	(202.93%)	51.21%	(62.93%)	(2.64%)	19.92%
YoY%			52.54%	(38.85%)	(147.18%)	34.66%				70.48%
TTM			(1,122,379$)	(1,301,490$)	(1,220,220$)	(920,237$)	(1,008,441$)
TTM_QoQ%			13.76%	(6.66%)	(32.60%)	8.75%
TTM_YoY%			(11.30%)
Operating Margin														(76.62%)				(2,169.91%)
QoQ
YoY														2,093.29%
Net Income			(140,371$)	(267,913$)	(470,507$)	(128,366$)	(132,871$)	814$	134,091$	128,029$	322,720$	62,302$	220,076$	34,989$	515,098$	342,224$	(163,932$)	(217,899$)		(37,666$)	(52,524$)
QoQ%			47.61%	43.06%	(266.54%)	3.39%	(16,423.22%)	(99.39%)	4.74%	(60.33%)	417.99%	(71.69%)	528.99%	(93.21%)	50.52%	308.76%	24.77%			28.29%
YoY%			(5.65%)	(33,013.15%)	(450.89%)	(200.26%)	(141.17%)	(98.69%)	(39.07%)	265.91%	(37.35%)	(81.80%)	234.25%	116.06%		1,008.58%	(212.11%)
TTM			(1,007,157$)	(999,657$)	(730,930$)	(126,332$)	130,063$	585,654$	647,142$	733,127$	640,087$	832,465$	1,112,387$	728,379$	475,491$
TTM_QoQ%			(.75%)	(36.77%)	(478.58%)	(197.13%)	(77.79%)	(9.50%)	(11.73%)	14.54%	(23.11%)	(25.16%)	52.72%	53.19%
TTM_YoY%			(874.36%)	(270.69%)	(212.95%)	(117.23%)	(79.68%)	(29.65%)	(41.82%)	.65%	34.62%
Profit Margin											76.12%	10.19%	38.15%	3.11%	58.25%	108.11%	(2,633.45%)	(2,069.91%)
QoQ											65.93%	(27.96%)	35.04%	(55.14%)	(49.86%)	2,741.55%	(563.54%)
YoY											17.87%	(97.92%)	2,671.60%	2,073.02%
Equity to Common Shareholders			(7,276,413$)	(7,088,145$)	(6,757,910$)	(6,575,045$)	(6,375,132$)	(5,848,715$)	(5,511,704$)	(4,828,065$)	(4,235,444$)	(3,998,183$)	(3,187,643$)	(2,598,241$)	(2,007,402$)	(1,638,498$)	(1,364,841$)	(1,194,684$)	(1,303,407$)	(65,190$)	(27,524$)	25,000$
QoQ			(188,268$)	(330,235$)	(182,865$)	(199,913$)	(526,417$)	(337,011$)	(683,639$)	(592,621$)	(237,261$)	(810,540$)	(589,402$)	(590,839$)	(368,904$)	(273,657$)	(170,157$)	108,723$	(1,238,217$)	(37,666$)	(52,524$)
QoQ%			(2.66%)	(4.89%)	(2.78%)	(3.14%)	(9.00%)	(6.11%)	(14.16%)	(13.99%)	(5.93%)	(25.43%)	(22.69%)	(29.43%)	(22.52%)	(20.05%)	(14.24%)	8.34%	(1,899.40%)	(136.85%)	(210.10%)
YoY			(901,281$)	(1,239,430$)	(1,246,206$)	(1,746,980$)	(2,139,688$)	(1,850,532$)	(2,324,061$)	(2,229,824$)	(2,228,042$)	(2,359,685$)	(1,822,802$)	(1,403,557$)	(703,995$)	(1,573,308$)	(1,337,317$)	(1,219,684$)
YoY%			(14.14%)	(21.19%)	(22.61%)	(36.18%)	(50.52%)	(46.28%)	(72.91%)	(85.82%)	(110.99%)	(144.02%)	(133.55%)	(117.48%)	(54.01%)	(2,413.42%)	(4,858.73%)	(4,878.74%)
Dividends Paid
Additional Paid-In Capital QoQ
Treasury Stock
QoQ
Goodwill
QoQ%
YoY%
Other Intangible Assets
QoQ
Amortization of Intangible Assets
Total Assets			2,303,021$	2,265,317$	2,254,885$	3,680,088$	3,610,045$	14,735,632$	14,502,925$	32,820,092$	32,115,642$	47,910,061$	47,542,247$	107,760,192$	106,895,054$	106,184,623$	105,811,118$	105,731,282$	106,305,294$
QoQ			37,704$	10,432$	(1,425,203$)	70,043$	(11,125,587$)	232,707$	(18,317,167$)	704,450$	(15,794,419$)	367,814$	(60,217,945$)	865,138$	710,431$	373,505$	79,836$	(574,012$)
YoY			(1,307,024$)	(12,470,315$)	(12,248,040$)	(29,140,004$)	(28,505,597$)	(33,174,429$)	(33,039,322$)	(74,940,100$)	(74,779,412$)	(58,274,562$)	(58,268,871$)	2,028,910$	589,760$
Total Liabilities			7,332,151$	7,152,818$	6,874,473$	6,577,836$	6,379,427$	5,880,260$	5,648,367$	4,872,305$	4,295,884$	20,413,023$	3,805,936$	64,243,957$	2,850,470$	2,655,137$	2,465,373$	2,380,088$	3,073,701$
QoQ			179,333$	278,345$	296,637$	198,409$	499,167$	231,893$	776,062$	576,421$	(16,117,139$)	16,607,087$	(60,438,021$)	61,393,487$	195,333$	189,764$	85,285$	(693,613$)
YoY			952,724$	1,272,558$	1,226,106$	1,705,531$	2,083,543$	(14,532,763$)	1,842,431$	(59,371,652$)	1,445,414$	17,757,886$	1,340,563$	61,863,869$	(223,231$)
Current Ratio			.01x	.01x	.03x	-	-	.01x	.04x	.02x	.03x	.02x	.40x	.01x	1.40x	2.51x	5.11x	9.11x	3.64x
Total Current Assets			55,738$	64,673$	116,563$	2,791$	4,295$	31,545$	136,663$	44,240$	60,440$	274,667$	618,293$	582,591$	842,717$	1,016,639$	1,100,532$	1,185,404$	1,769,943$
QoQ			(8,935$)	(51,890$)	113,772$	(1,504$)	(27,250$)	(105,118$)	92,423$	(16,200$)	(214,227$)	(343,626$)	35,702$	(260,126$)	(173,922$)	(83,893$)	(84,872$)	(584,539$)
Total Current Liabilities			5,082,151$	4,902,818$	4,624,473$	4,327,836$	4,129,427$	3,630,260$	3,398,367$	2,622,305$	2,045,884$	18,163,023$	1,555,936$	61,993,957$	600,470$	405,137$	215,373$	130,088$	486,201$
QoQ			179,333$	278,345$	296,637$	198,409$	499,167$	231,893$	776,062$	576,421$	(16,117,139$)	16,607,087$	(60,438,021$)	61,393,487$	195,333$	189,764$	85,285$	(356,113$)
Debt to Asset Ratio			3.18x	3.16x	3.05x	1.79x	1.77x	.40x	.39x	.15x	.13x	.43x	.08x	.60x	.03x	.03x	.02x	.02x	.03x
Long Term Debt
QoQ
YoY
Capital Lease Obligations
Cash and Cash Equivalents					59,063$	2,791$	4,295$	11,295$			60,440$							796,731$	1,365,181$
QoQ					56,272$	(1,504$)	(7,000$)											(568,450$)
YoY							(56,145$)
Interest Expenses										50,000$
Interest Income															0$	299,318$