Redeye initiates coverage of Nepa, a scalable and rapidly growing software company in consumer science – helping customers optimise their marketing strategies and campaigns. The company has recently finished migrating customers to its new platform, and it now aims to accelerate growth and expand its profit margins. Thanks to 67% recurring revenues, close to no churn and high operating leverage, Redeye sees solid upside potential and views Nepa as a long-term compounder.