Hope there's a ridiculous overreaction to the downside on this....

Hope there's a ridiculous overreaction to the downside on this.
This is marginally below what might have been expected, but for me the key word is UNDERLYING growth of 6% in a highly competitive market.

Revenue of $162 million to $167 million represents total growth of 15%-19%.
EBITDA margin at 14.6%-15.1% gives EBITDA of $23.6m - $25.2m, up 30%-38%.

Some back of the envelopes - if The Works contributes what was announced for F18 at the time of acquisition (F18 revenue of 16.5 and EBITDA of $3.9), underlying growth is:

Revenue 3.5% - 7.1%
EBITDA 19.8 (+8.2%) to 21.3 (+16.8%)

My valuation sits between $1.07-$1.25

Happy buyer on overreactions at this price​