Monitor the company's acquisition pace and organic growth against the aggressive EBITDA targets ($60M in 2026E, $100M in 2027E). The T. Rowe Price anchor investment signals institutional confidence, but execution risk remains high given the reliance on programmatic acquisitions. Watch for quarterly updates on acquisition volume and SME segment EBITDA.
Price Chart
Executive Summary
Teamshares Inc. (formerly LOKV) began trading on Nasdaq under new ticker TMS on June 23, 2026, and disclosed a $126.5M equity investment from T. Rowe Price Investment Management. The company also released an investor presentation projecting Pro Forma Adjusted EBITDA growth from $19M in 2025A to $60M in 2026E and $100M in 2027E, with 2025 reported revenue of $472M (consolidated $490M). The listing and large institutional investment provide capital to accelerate its programmatic acquisition model targeting retiring SME owners.
Key Facts
- Common stock began trading on Nasdaq under ticker TMS on June 23, 2026.
- T. Rowe Price Investment Management anchors a $126.5M equity investment in TMS.
- 2025A Pro Forma Adjusted EBITDA of $19M; 2026E target of $60M; 2027E target of $100M.
- 2025 reported revenue of $472M (investor presentation) and consolidated revenue of $490M (press release).
- Company has grown to 93 businesses since 2020 and sources 75,000 actively for-sale businesses per year.
- Target acquisition EBITDA of $40M in 2026 and $45M in 2027 to support growth projections.
Financial Impact
Equity investment of $126.5M from T. Rowe Price; Pro Forma Adj. EBITDA projected to grow from $19M (2025A) to $100M (2027E), a 5.3x increase.
Risk Factors
- Execution risk on acquiring $40M+ EBITDA annually to meet projections.
- Integration and retention of acquired businesses; reliance on retiring owner transitions.
- Forward-looking projections are ambitious and subject to market and economic conditions.
- Potential dilution from future equity raises to fund acquisitions.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001193125-26-281272 |
| Document: d145467d8k.htm | 0001193125-26-281272 |
| Document: d145467dex991.htm | 0001193125-26-281272 |
| Document: 0001193125-26-281272-index-headers.html | 0001193125-26-281272 |
| Document: 0001193125-26-281272-index.html | 0001193125-26-281272 |
| Document: 0001193125-26-281272.txt | 0001193125-26-281272 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Jun 26, 2026 17w ago | 3 | $11.52 | awaiting T+20 | — | — |
Jun 24, 2026 17w ago | 8-K | $11.52 | awaiting T+20 | — | — |
Jun 22, 2026 18w ago | 25-NSE | $11.52 | awaiting T+20 | — | — |
Jun 18, 2026 18w ago | 8-K | $12.03 | awaiting T+20 | — | — |
US Market Status
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