May 2026
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Largest B2B SaaS Public Companies in New Zealand
Benchmark revenue and EBITDA valuation multiples for public comps like
Vista Group, Gentrack Group, Serko, EROAD and Black Pearl Group.
 | Vista Group International Ltd provides software and technology solutions across the global film industry sectors of distribution, exhibition, and the end consumer, moviegoers. The principal activity is the sale, support, and associated development of software for the film industry. The company operates in the vertical cinema/film market in the following reportable segments namely the Cinema segment and Film segment. The company has offices in New Zealand, with additional offices located in Sydney, Cape Town, London, Amsterdam, Beijing, Shanghai, Kuala Lumpur, Los Angeles, and Mexico City. | $1 | -29% | $346M | $353M | 3.6x | 20.6x | ||
| Gentrack Group Ltd is engaged in the development, integration, and support of enterprise billing and customer management software solutions for the utility (energy and water) and airport industries. The company operates in two business segments which are Utility Billing Software and Airport Management Software, of which the Utility Billing Software segment generates maximum revenue for the company. Geographically company generates from United Kingdom, also operates from Australia, New Zealand and rest of world. | $2 | -71% | $266M | $231M | 1.7x | 12.9x | ||
| Serko Ltd is engaged in the provisioning of computer software solutions for corporate travel. The company's products are Serko Online and Serko Expense which are cloud-based enterprise-grade solutions that help corporates manage their travel and expense programs. Geographically, it derives a majority of its revenue from Australia and also has a presence in New Zealand, the US, India, Singapore, and Others. The company generates revenue from Serko Online, Serko Zeno, Serko Mobile, and Serko Expense technology platforms. | $1 | -48% | $120M | $92M | 1.3x | 23.0x | ||
| EROAD Ltd is a New Zealand Based company which is a fully integrated technology, tolling and services provider. It designs and manufactures in-vehicle hardware operates secure payment and merchant gateways and offers web-based value-added services. The company provides electronic on-board units and software as a service to the transport industry. Its products are categorized in RUC Compliance, Health & Safety, and Fleet Management. It operates through four segments: Corporate & Development, North America, Australia, and New Zealand. | IoT+1 | $1 | -35% | $113M | $126M | 1.1x | 4.9x | |
| Black Pearl Group Ltd is a data technology company that builds, acquires, and markets data-driven cloud services, consisting of a suite of productivity and demand generation applications for small and medium-sized businesses. The company had two reportable segments based on the company's product subscriptions available during the year: Pearl Diver and Newoldstamp. The company makes the majority of its revenue from subscriptions to Pearl Diver. | $0 | -7% | $37M | $35M | 7.6x | (7.2x) | ||
| PaySauce Ltd is a New Zealand-based software company. It is a Software as a Solution (SaaS ) fintech platform providing solutions for people at work. The technology enables small employers to digitally onboard, pay, and manage employees from any device. The platform includes rosters, mobile timesheets, payroll calculations, banking integration, automated payments, PAYE filing, labour costing, automated general ledger entries, and digital employment contracts. It generates maximum revenue in the form of processing fees, which are the monthly or annual subscription customers pay for PaySauce payroll products. Geographically, the company generates a majority of its revenue from its business within New Zealand. | $0 | +21% | $24M | $11M | 2.8x | 13.7x | ||
| Trade Window Holdings Ltd develops and commercializes technology solutions that provide international trade participants with a secure platform and tools to establish trust and trade globally in an efficient manner across interconnected networks. The company's platform Cube connects the commercial, financial, logistics, and government data silos that make up interanational supply chains. | $0 | +27% | $21M | $19M | 4.0x | (21.2x) | ||
| Solution Dynamics Ltd is a company engaged in providing customer communications solutions. Its products and services are represented by revenue streams: Digital Printing & Document Handling Services; and Software and Technology, Outsourced services. Services include digital print and mail house processing for mail items like invoices, statements, and promotional materials. Software and Technology develop and markets its software products related to multi-channel marketing communications including digital asset management, communication templates, campaign management, document archiving, document composition, and desktop mail solutions among others. Its outsourced services elements are the post, freight, paper, and envelopes. | $0 | -3% | $5M | $893K | 0.0x | 0.3x | ||
| Median | $0 | -18% | $75M | $63M | 2.2x | 8.9x |
Financial data powered by FactSet and Morningstar. Valuation multiples as of current fiscal year. For more data, start your free trial here.
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