X-Ways Software Technology AG provides software products for computer forensics, data recovery, and IT security. The company offers a range of tools including X-Ways Forensics, X-Ways Investigator, WinHex, X-Ways Imager, and additional add-ons

X-Ways Software Technology AG

Micro Systemation AB (publ) provides forensic technology for mobile device examination worldwide. The company offers XRY software that retrieves information, such as pictures, SMS, call history, contact lists, and application data from smart and mobile phones, 3G modems, GPS, and tablet devices. Its XRY software products include XRY logical, a software solution that enables investigators to access and recover live and file system data from the device right on the crime scene; XRY Physical, a software solution, which is used for the physical recovery of data from mobile devices; XRY Cloud to recover data beyond the mobile device; XRY PinPoint enables users to extract and decode data from non-standard mobile devices; XRY Camera, a hardware-based solution for forensic examiners to capture photos of the examined devices and screenshots to complement XRY reports; XRY Express that provides workflow for mobile device extractions, which enables processing by field-based investigators and others; and XRY Photon, a mobile examination tool that enables text search, filtering, and other types of analysis. The company also offers XAMN Viewer, an analysis tool to open, view, analyze, or report on mobile device data; XAMN Spotlight, a tool that helps to find and analyze data; XAMN Elements for forensic data analysis and reconstruction; and XAMN Horizon primarily for the visualization of extracted data. In addition, it provides XEC Director to manage, comply with, and control forensic mobile operations; and XEC Export, a tool for users who need batch export. Further, the company offers implementation, training, and support services. Its products are used by police, law enforcement, military, and government intelligence agencies, as well as forensic laboratories to investigate crime, gather intelligence, investigate fraud, and fight corruption. Micro Systemation AB (publ) was founded in 1984 and is headquartered in Stockholm, Sweden.

Micro Systemation AB (publ)

DigiFors GmbH provides digital forensic services and supports authorities, companies, and law firms in investigations of cyber incidents and the secure handling of digital evidence.

Metric
Company Name	X-Ways Software Technology AG	Micro Systemation AB (publ)	DigiFors GmbH
Symbol		MSAB-B
MSH ID	NET:X-WAYS	COM:MSAB	DE:DIGIFORS
Market	PRIVATE	STOCKS	PRIVATE
Sector	Technology	Technology	Commercial & Professional Services
Industry	Software	Software - Application	Information Technology
Country	DE	SE	DE
Stage
Employee Count		204
Website	x-ways.net	msab.com	digifors.de
LinkedIn			digifors
Founders

Metric
Market Cap	80.15M
Enterprise Value
Monthly Web Traffic		42
Web Traffic Growth		-0.65
Valuation
Raised Capital

Metric
Revenue		37.84M
Revenue (LTM)
Revenue (NTM)
Gross Profit		37.84M
EBITDA		2.72M
Operating Income		2.72M
Net Income		2.72M
EPS		0.15
Diluted EPS		0.15
Revenue 2022
Revenue 2023
Revenue 2024
Revenue 2025
Revenue 2026

Metric
Revenue Growth (LTM)
Revenue Growth (NTM)
Gross Profit Growth (LTM)
EBITDA Growth (LTM)
Net Income Growth (LTM)
14-Day Growth Score
28-Day Growth Score
90-Day Growth Score
365-Day Growth Score

Metric
Gross Profit Margin		0.52
Operating Profit Margin		0.10
EBITDA Margin		0.07
Net Profit Margin		0.07
Return on Equity		0.33
Return on Assets		0.11
Return on Capital Employed		0.29

NET:X-WAYS

X-Ways Software Technology AG

Company Overview

Market Metrics

Financial Performance

Growth Metrics

Profitability Ratios

Valuation Multiples

Operational Metrics

Cash Flow Metrics

Balance Sheet Metrics

Efficiency Metrics

Metric
P/E Ratio		30.67
P/B Ratio		8.37
Revenue Multiple (LTM)
Revenue Multiple (NTM)
EBITDA Multiple (LTM)
EBITDA Multiple (NTM)
Price to Sales Ratio		2.54
EV Multiple		33.57

Metric
Days Sales Outstanding		73.24
Days Payables Outstanding		6.45
Days Inventory Outstanding		11.71
Operating Cycle		75.44
Cash Conversion Cycle		70.16
Asset Turnover		1.56

Metric
Operating Cash Flow
Free Cash Flow
Cash Flow to Debt		4.44
Operating Cash Flow/Sales		0.18
Free Cash Flow Yield		0.08

Metric
Cash & Equivalents
Accounts Receivable
Inventory
Goodwill
Debt to Capitalization		0.33
Debt to Assets		0.17
Current Ratio		1.93
Quick Ratio		1.67

Metric
Rule of 40 (LTM)
Rule of 40 (NTM)
Stock Comp to Revenue
R&D to Revenue
SG&A to Revenue