When buyers talk about "quality of earnings," a lot of the weight sits on revenue quality, not just the EBITDA number. A few things I look at early: - How much of TTM revenue is recurring or contracted vs. one-off projects - Whether growth came from price, volume, or a few large new accounts - Customer churn and concentration behind the top line - How cleanly revenue ties to bank deposits (timing gaps and deferred revenue show up here) A deal can look strong on SDE and still be fragile if a big chunk of revenue isn't repeatable after close. That's usually where lenders get nervous too. Searchers — what's the first revenue-quality check you run when a CIM lands?