The Futr Corporation is undervalued, this analyst says

Research Capital analyst Andre Greg McLeish reiterated his “Speculative Buy” rating and $3.00 price target on The Futr Corporation  (The Futr Corporation Stock Quote, Chart, News, Analysts, Financials TSXV:FTRC) in a Feb. 25 update, following the company’s exclusive partnership with the New York State Automobile Dealers Association.

FUTR, a Toronto-based consumer data technology company, said its Payments 2.0 platform will serve as the exclusive loan payment optimization program for NYSADA’s network of approximately 1,000 franchised dealerships across New York State.

McLeish described the agreement as “a structural progression in FUTR’s U.S. dealer expansion strategy,” shifting the company from individual rooftop onboarding toward coordinated, association-driven scaling.

The analyst noted that a prior partnership with Tax Max in November 2025 embedded Payments 2.0 into a national tax and income verification workflow, while the NYSADA agreement introduces state-level exclusivity and deeper channel penetration.

Payments 2.0 is integrated within dealership Finance & Insurance (F&I) systems and applies analytics to loan timing and structure, supporting accelerated equity accumulation and improved payment outcomes. The model is designed to operate within dealer-controlled, privacy-first data architecture.

From a financial standpoint, McLeish highlighted the platform’s recurring revenue profile, generating approximately US$9 per month per active consumer, or roughly US$100 annually net of commissions, with average customer lifetimes exceeding four years. At scale, each additional 100,000 active consumers represents approximately US$10-million in annual recurring revenue.

He said expanding access to roughly 1,000 franchised dealers in a single state materially broadens FUTR’s potential enrollment base, with largely fixed infrastructure costs supporting margin expansion as penetration increases.

McLeish’s $3.00 target is based on a sum-of-the-parts valuation, assigning $1.81 per share to the core platform using a DCF methodology and $1.08 per share to the discounted value of the company’s token reserve.

“We view the automotive dealer channel as a uniquely attractive entry point for FUTR’s agent-driven financial infrastructure,” McLeish said, adding that the auto retail environment represents a high-intent financial transaction moment that can serve as both a recurring revenue engine and a bridge into adjacent financial services categories.

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