RateGain has 185 companies on its target acquisition list. Its gross revenue retention has been consistently over 90%. Barring FY21, which was a washout year for the hospitality industry due to COVID,. But if you dissect the numbers, you will see that the margins on most occasions are in the single digits. That means that rate gain has had to spend quite heavily on sales, marketing and developing new products to achieve this sort of growth rate. It trades at a fairly high P slash E of 62 times.