Every number, proven

xPRESSO builds the quality of earnings, net working capital and net debt analysis behind a transaction, and keeps every figure tied to its evidence, from the data room to the final report.

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Opening early access to a select group of diligence teams.

Analysis

The analysis a buyer relies on, ready for review

xPRESSO reads the deal’s financial data, prepares the core diligence analyses and lays out every figure with its support. Your team starts from a complete first draft and spends its time on judgment.

Quality of earnings

Adjusted EBITDA from FY24 to the last twelve months, and what moved it.

Illustrative
Adjusted EBITDA bridge US$000s
In US$000sFY24Sales varianceMargin & mixOpEx effectLTM Sep-25
Adjusted EBITDA8,4002,100400(700)10,200
Adjusted EBITDA bridge US$000s
FY24 adjusted EBITDA8,400
Sales variance2,100
Margin & mix400
OpEx effect(700)
LTM Sep-25 adjusted EBITDA10,200
Adjusted EBITDA reconciliation US$000s
In US$000sFY24LTM Sep-25Δ
Revenue43,00050,0007,000
Gross profit12,90015,4002,500
Gross margin30.0%30.8%+0.8 pts
Operating expenses(4,500)(5,200)(700)
Adjusted EBITDA8,40010,2001,800
Adjusted EBITDA margin19.5%20.4%+0.9 pts

US$000s. Sales variance is the change in revenue at the FY24 gross margin; margin & mix is the change in gross margin on LTM revenue; OpEx effect is the change in operating expenses. Illustrative.

Net working capital

Monthly working capital on a consistent definition, with the trailing average that informs the peg.

Avg 6.4
6.4 Oct-24Sep-25
Trailing average by component US$ millions
Trade receivables5.6
Inventory3.4
Trade payables(2.1)
Accrued liabilities(0.5)
Net working capital6.4

US$ millions, Oct-24 to Sep-25. Dashed line: trailing twelve-month average. Illustrative.

Net debt and debt-like items

As of Sep-25, on the deal’s definitions, each line traced to its balance.

Illustrative
In US$000sSep-25
Debt
Borrowings14,000
Finance leases1,200
Total debt15,200
Debt-like items
Accrued interest300
Unpaid pre-closing income taxes600
Capex-related payables400
Total debt-like items1,300
Cash
Cash and cash equivalents5,800
Less: restricted cash(500)
Total cash5,300
Net debt / (net cash)11,200

US$000s, as of Sep-25. Cash is shown positive in its own section and deducted in the bottom line. Illustrative.

The engines

Built for any deal, and any company

xPRESSO takes the deal as it comes, proves every number before you see it, and does the heavy lifting so your team can focus on judgment.

  1. Starts with the files you actually get

    Trial balances, ledgers, agings, payroll, debt schedules and PDFs, even layouts it has never seen before. No templates, and no clean-up project first.

    Trial balancesLedgersAgingsPayrollDebt schedulesPDFsAny chart of accounts

  2. Understands accounting, not just words

    Before it uses an account, it checks what kind of account it is, its sign, its period and whether it ties out. Bad debt expense never ends up in net debt.

  3. Nothing reaches you until it’s proven

    Every number, whether it came from a file, a model or a person, must be backed by this deal’s own files and tie out before it appears in the Databook, the report or on screen. Confident is not the same as correct.

  4. Never guesses

    If support is missing, the schedule is still built, with a request to the client where the number would be. When the file arrives, the number fills in and is checked again.

The operating system for financial due diligence
Any deal, every number, proven

Evidence and traceability

Every figure traces back to its source

The way a reviewer marks a workpaper, xPRESSO marks every number it produces. Open any figure to see the source behind it, the calculation that made it and every place it appears.

Agreed to sourceTied to the ledger or document it came from, down to the row.
RecalculatedEvery subtotal and ratio recomputed and checked before it is shown.
Cross-referencedLinked to every schedule, screen and report page that uses it.

Trace of one figure

LTM adjusted EBITDA, twelve months to Sep-25, US$000s

Illustrative
LTM adjusted EBITDA10,200
  1. Agreed to sourceAgreed to the trial balance from the data room, down to the rows behind it.
  2. RecalculatedEach step from FY24 recalculated: 8,400 + 2,100 + 400 − 700 = 10,200.
  3. Cross-referencedThe same 10,200 in Databook EBITDA!D12, on the deal screen and in the draft report, p. 12.

One number everywhere

One number, wherever it appears

The deal screens, the Databook and the report read the same saved result. Change a figure and every place that uses it moves together, so there is nothing to reconcile at the end.

Illustrative figures.

Workflow

Works where your team already works

No new habits to learn. Files arrive from the deal’s SharePoint, the analysis lands in an Excel Databook, and the report is written from the same figures.

1 Data room

SharePoint intake

Each deal has its own folder. Files placed there are read and processed automatically.

2 Databook

Live Excel Databook

Every tab built with working formulas and cross-tab links, opened and edited in Excel like any other workpaper.

3 Report

Draft report and deal screens

Written from the Databook’s saved figures, with drill-down from each summary to its schedule.

Infrastructure

Built on AWS

xPRESSO runs on Amazon Web Services in the United States, on managed services chosen for isolation, durability and a clear record of activity.

AWSAmazon Web Services · United States
Hosted in the United StatesRuns on Amazon Web Services in a US region.
Region
Amazon ECSThe application runs as containerized services.
Compute
Amazon RDS for PostgreSQLDeal data with row-level isolation between firms.
Database
Amazon S3Files stored with server-side encryption.
Storage
Audit loggingActivity on every engagement is logged and kept for review.
Logging

Security

Confidential by design

Deal data is among the most sensitive a firm holds. xPRESSO keeps each firm’s work separate, encrypted at rest and accounted for.

Isolated by firm

Each firm’s data is separated in the database itself with row-level security, not only in the application.

Encrypted at rest

Deal data and uploaded files are stored encrypted, with server-side encryption for files in Amazon S3.

Full audit trail

Uploads, changes and sign-offs recorded with who and when.

MFA and SSO

Multi-factor authentication and single sign-on support for your firm’s accounts.

Early access

Bring xPRESSO to your next deal

Opening early access to a select group of diligence teams. Tell us about your practice and the work you want to move faster.

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