Long Term Stock Exchange
-54%
est. 2Y upside i
LTSE is an ecosystem for visionary business.
Rank
#3212
Sector
Fintech
Est. Liquidity
~3Y
Data Quality
Data: MediumLong Term Stock Exchange presents a moderate upside opportunity, driven by its unique focus on long-term governance and ESG principles within the growing sustainable finance market.
Last updated: March 10, 2026
LTSE's unique long-term and ESG-focused listing standards gain significant traction, attracting a critical mass of primary listings and driving substantial growth in its exchange services. The LTSE Equity cap table management software also expands its market share, pushing overall revenue to ~$125M by 2028 and justifying a $1.25B+ valuation at a premium multiple, leading to a successful IPO or acquisition.
LTSE continues to grow steadily, primarily through dual listings and moderate expansion of its cap table management software. While facing strong incumbent competition, its niche focus allows for consistent revenue growth of ~20% YoY, reaching ~$70M by 2028. This supports a valuation of ~$700M, offering a modest return on current equity.
Dominant incumbents like NYSE and Nasdaq successfully counter LTSE's niche, or a lack of liquidity prevents meaningful adoption of its exchange services. Customer retention issues, as seen with Twilio's delisting, persist. Revenue declines to ~$20M, and a down round to ~$200M valuation significantly erodes common stock value, especially given the substantial liquidation preferences.
Preference Stack Risk
severeInvestors hold $247M in liquidation preferences, representing 49.4% of the estimated $500M current valuation.
Dilution Risk
highAs a Series C+ company with a relatively small market share and ongoing need for scale, further funding rounds are likely before an IPO, leading to additional dilution for existing equity holders.
Secondary Liquidity
limitedAccredited investors can access LTSE shares through platforms like EquityZen, indicating some limited secondary market activity.
Questions to Ask at the Interview
Strategic questions based on Long Term Stock Exchange's data — designed to show you've done your homework.
- 1
“Given the high incumbent threat from NYSE and Nasdaq, how is LTSE planning to significantly increase its primary listings and trading volume beyond dual listings, and what specific competitive advantages will drive this?”
- 2
“LTSE's revenue is currently around $50M, with market data fees generating a loss for the exchange. What is the strategic roadmap to achieve profitability for the exchange services, and how will the cap table management software contribute to overall revenue and margin growth over the next 2-3 years?”
- 3
“With total funding of $247M on an estimated $500M valuation, there's a significant liquidation preference. How does the company plan to manage future dilution and provide a clear path to liquidity for employees holding common stock or options within a 2-4 year horizon?”
Community
Valuation Sentiment
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Disclaimer: This analysis is AI-generated and does not constitute financial or career advice. Always conduct your own due diligence.