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1. Company Snapshot

1.a. Company Description

Lumine Group Inc.offers communications and media software worldwide.The company was founded in 2022 and is headquartered in Mississauga, Canada.

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1.b. Last Insights on LMN

Lumine Group Inc.'s recent performance was negatively impacted by concerns over its fundamentals, despite a significant milestone achieved by its subsidiary Tarantula, with BMIT Technologies implementing its RedCube solution. The company's Q3 earnings results, announced on November 3, 2025, likely influenced investor sentiment. RBC Capital Markets' preview of Q3 earnings for Canadian technology stocks, including Lumine Group, noted a bifurcated earnings landscape. Additionally, questions surrounding the company's intrinsic value, estimated at CA$34.00, may have contributed to investor caution.

1.c. Company Highlights

2. Transcript Summary

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3. NewsRoom

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Lumine Group to Acquire Synchronoss Technologies

Dec -04

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Constellation Software Spin-off Lumine Group To Acquire Nasdaq-listed Synchronoss Technologies

Dec -04

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Lumine Group to Acquire Synchronoss Technologies

Dec -04

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Synchronoss Technologies, Inc. to Be Acquired by Lumine Group

Dec -04

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Are Lumine Group Inc.'s (CVE:LMN) Fundamentals Good Enough to Warrant Buying Given The Stock's Recent Weakness?

Nov -26

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BMIT Technologies enhances Tower Operations with Tarantula’s RedCube Solution

Nov -26

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Lumine Group Inc. Beat Analyst Estimates: See What The Consensus Is Forecasting For Next Year

Nov -06

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Lumine Group Inc. Announces Results for the Three And Nine Months Ended September 30, 2025

Nov -03

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4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (8.85%)

6. Segments

Maintenance and Other Recurring

Expected Growth: 8.3%

Lumine Group Inc.'s 8.3% growth in Maintenance and Other Recurring is driven by increasing demand for cloud-based services, strategic acquisitions, and expansion into new markets. Additionally, the company's focus on customer retention and upselling/cross-selling initiatives have contributed to the growth. Furthermore, the shift towards subscription-based models and the need for ongoing maintenance and support have also fueled this growth.

Professional Services

Expected Growth: 10.27%

Lumine Group Inc.'s Professional Services segment growth of 10.27% is driven by increasing demand for cloud-based solutions, digital transformation, and cybersecurity services. Additionally, strategic acquisitions, expansion into new markets, and a strong reputation for delivering complex IT projects contribute to the segment's growth.

License

Expected Growth: 10.27%

The 10.27% growth driven by Lumine Group Inc.'s license is attributed to increasing demand for cloud-based software, strategic partnerships, and expansion into new markets. Additionally, the company's focus on innovation, customer satisfaction, and operational efficiency have contributed to this growth.

Hardware and Other

Expected Growth: 8.77%

Lumine Group Inc.'s Hardware and Other segment growth of 8.77% is driven by increasing demand for network infrastructure, cloud computing, and cybersecurity solutions. Additionally, the company's strategic acquisitions and partnerships have expanded its product offerings, contributing to revenue growth. Furthermore, the rising need for digital transformation and IoT adoption across industries has fueled demand for the company's hardware and other products.

7. Detailed Products

NetBoss

A comprehensive network management system that provides real-time monitoring, automated fault detection, and root cause analysis.

Fusion

A modular, cloud-based OSS/BSS platform that enables communication service providers to manage their operations efficiently.

Evolv

A cloud-based, AI-powered analytics platform that provides real-time insights and predictive analytics for telecom operators.

Cortx

A modular, cloud-based platform that enables communication service providers to manage their digital transformation journey.

Lumine SDM

A service delivery management platform that enables communication service providers to design, deliver, and manage their services efficiently.

8. Lumine Group Inc.'s Porter Forces

Forces Ranking

Threat Of Substitutes

Lumine Group Inc. operates in a niche market with limited substitutes, but the threat of substitutes is still present due to the evolving nature of the industry.

Bargaining Power Of Customers

Lumine Group Inc. has a diverse customer base, which reduces the bargaining power of individual customers. Additionally, the company's products and services are highly specialized, making it difficult for customers to switch to alternative providers.

Bargaining Power Of Suppliers

Lumine Group Inc. relies on a few key suppliers for critical components, which gives them some bargaining power. However, the company's strong relationships with suppliers and its ability to negotiate favorable terms mitigate this risk.

Threat Of New Entrants

The barriers to entry in Lumine Group Inc.'s industry are relatively high, including significant capital requirements and the need for specialized expertise. This limits the threat of new entrants.

Intensity Of Rivalry

The industry in which Lumine Group Inc. operates is highly competitive, with several established players competing for market share. The company must continually innovate and improve its products and services to maintain its market position.

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight -4.51%
Debt Cost 7.33%
Equity Weight 104.51%
Equity Cost 18.59%
WACC 19.10%
Leverage -4.32%

11. Quality Control: Lumine Group Inc. passed 4 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

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Pegasystems

A-Score: 5.1/10

Value: 1.3

Growth: 8.0

Quality: 9.1

Yield: 0.0

Momentum: 9.0

Volatility: 3.3

1-Year Total Return ->

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Dynatrace

A-Score: 4.7/10

Value: 1.0

Growth: 8.9

Quality: 8.6

Yield: 0.0

Momentum: 3.0

Volatility: 7.0

1-Year Total Return ->

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Smartsheet

A-Score: 4.1/10

Value: 2.5

Growth: 7.4

Quality: 4.6

Yield: 0.0

Momentum: 5.0

Volatility: 5.3

1-Year Total Return ->

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Braze

A-Score: 3.6/10

Value: 4.8

Growth: 6.1

Quality: 4.5

Yield: 0.0

Momentum: 3.0

Volatility: 3.0

1-Year Total Return ->

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Stock-Card
Lumine Group

A-Score: 3.6/10

Value: 0.9

Growth: 1.4

Quality: 7.4

Yield: 0.0

Momentum: 7.5

Volatility: 4.0

1-Year Total Return ->

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Zeta Global

A-Score: 2.6/10

Value: 3.1

Growth: 4.4

Quality: 4.8

Yield: 0.0

Momentum: 1.0

Volatility: 2.0

1-Year Total Return ->

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Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

29.3$

Current Price

29.3$

Potential

-0.00%

Expected Cash-Flows