Company
Your company name:
Northbeam
Business description:
Revenue analytics for B2B SaaS teams.
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Fundraising
What investors expect, down to the metrics they check first.
IRR
MOIC
NPV
Exit proceeds
Loans
The projections a bank or lender needs to approve your loan.
DSCR
Repayments
Cash flow
Balance sheet
Planning
Your runway, hiring, and cash before you commit.
Runway
Burn rate
Break-even
Made for people who don't do finance
Answer questions
About 20 minutes across the key parts of your business. Where you're unsure, Moddelix suggests a benchmark. Every metric is explained.
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Key metrics, revenue, and cash projections appear live as you answer. Iterate on your inputs as much as you want.
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Basics
Business model
Set in Setup
This is set during setup and can't be changed here. To choose another, create a new model.
Business model:
SaaS
Stage
Stage:
Growing
Starting date
Starting date:
January 2026
Location
Set in Setup
This is set during setup and can't be changed here. To choose another, create a new model.
Location:
United States
Currency:
USD
Acquisition
Channels
Selected channels:
Paid ads
SEO
Outbound sales
Word of Mouth / Referral
Conversion model
Conversion model:
With Trial/Freemium
Conversion rate Lead → Trial / Freemium user:
Of every 100 leads who land on your site, how many start a free trial or freemium account.
30%
Conversion rate Trial / Freemium → Paying user:
Of every 100 trial or freemium users, how many upgrade to a paid plan.
18%
Months for Lead converts to Trial / Freemium user:
How long it usually takes from a lead first hearing about you to starting a trial.
1 months
Months for Trial / Freemium user converts to Paying user:
How long a trial or freemium user typically uses the product before upgrading to paid.
1 months
Paid channels
Paid ads
Launch month from model start date:
The month when this channel starts generating leads, counted from your model's start date.
1 month #
Monthly budget:
How much you plan to spend on this channel each month.
USD 25,000
Cost per lead (CPL):
Average amount you pay for one lead from this channel.
USD 90
Annual budget growth:
How fast your monthly budget grows year over year.
45%
Budget growth pattern:
Discrete applies each year's change in one annual jump. Continuous spreads it out a little every month. Year 1 always uses your starting value.
Continuous
Annual CPL change:
How fast your cost per lead changes year over year.
5%
CPL change pattern:
Discrete applies each year's change in one annual jump. Continuous spreads it out a little every month. Year 1 always uses your starting value.
Continuous
Organic channels
SEO
Launch month from model start date:
The month when this channel starts generating leads, counted from your model's start date.
1 month #
Monthly keyword search volume:
Total monthly searches for the keywords you want to rank for.
30,000
Click-through rate (CTR):
Of people who see your result in search, how many click through to your site.
4%
Conversion rate Click → Lead:
Of visitors who land on your site from organic search, how many become leads.
6%
Annual search volume growth:
How fast the keyword pool grows year over year.
30%
Search volume growth pattern:
Discrete applies each year's change in one annual jump. Continuous spreads it out a little every month. Year 1 always uses your starting value.
Continuous
Word of Mouth / Referral
Launch month from model start date:
The month when this channel starts generating leads, counted from your model's start date.
1 month #
Customer referral rate:
Of your active customers, what share refers a new lead in a typical month.
8%
Conversion rate Referral → Lead:
Of customers who refer someone, what share actually produces a qualified lead.
40%
Sales-driven channels
Outbound sales
Launch month from model start date:
The month when this channel starts generating leads, counted from your model's start date.
3 month #
Contacts per month:
How many cold emails, calls, and messages your team sends in a month.
2,500
Conversion rate Contact → Lead:
Of cold contacts you make, what share converts into a qualified lead.
3%
Annual contacts growth:
How fast your outbound capacity grows year over year.
30%
Contacts growth pattern:
Discrete applies each year's change in one annual jump. Continuous spreads it out a little every month. Year 1 always uses your starting value.
Continuous
Revenue
Plans
Added plans:
Starter
Growth
Enterprise
Plan mix
Plan mix:
Spread across years
Starter plan
Pricing model:
Flat fee
Monthly price:
What you charge each customer per month on this plan.
USD 49
Starting customers:
How many paying customers you already have on this plan today.
30
Monthly churn:
Share of customers on this plan who cancel in a typical month.
4%
Starting deferred revenue:
Money customers paid up front for service you haven't delivered yet. An annual subscription paid in month one, for example.
USD 0
Annual price growth:
How fast your prices increase year over year.
5%
Contract cycle:
How long customers commit to a plan before they can cancel.
Month-to-month
Billing cycle:
How often customers are charged. Annual billing only applies on a 12-month contract.
Monthly
Reactivation rate:
% of churned customers who resubscribe within a given year. Reactivated customers re-enter as new cohorts in the month they return.
1%
Growth plan
Pricing model:
Flat fee
Monthly price:
What you charge each customer per month on this plan.
USD 199
Starting customers:
How many paying customers you already have on this plan today.
12
Monthly churn:
Share of customers on this plan who cancel in a typical month.
2.2%
Starting deferred revenue:
Money customers paid up front for service you haven't delivered yet. An annual subscription paid in month one, for example.
USD 0
Annual price growth:
How fast your prices increase year over year.
5%
Contract cycle:
How long customers commit to a plan before they can cancel.
12 months
Billing cycle:
How often customers are charged. Annual billing only applies on a 12-month contract.
Annually
Annual price discount:
Discount applied to customers who pay annually.
10%
Reactivation rate:
% of churned customers who resubscribe within a given year. Reactivated customers re-enter as new cohorts in the month they return.
0.8%
Enterprise plan
Pricing model:
Flat fee
Monthly price:
What you charge each customer per month on this plan.
USD 749
Starting customers:
How many paying customers you already have on this plan today.
3
Monthly churn:
Share of customers on this plan who cancel in a typical month.
1.2%
Starting deferred revenue:
Money customers paid up front for service you haven't delivered yet. An annual subscription paid in month one, for example.
USD 0
Annual price growth:
How fast your prices increase year over year.
7%
Contract cycle:
How long customers commit to a plan before they can cancel.
12 months
Billing cycle:
How often customers are charged. Annual billing only applies on a 12-month contract.
Mixed
Annual price discount:
Discount applied to customers who pay annually.
15%
% of customers on annual plan:
Share of customers who pay annually.
70%
Reactivation rate:
% of churned customers who resubscribe within a given year. Reactivated customers re-enter as new cohorts in the month they return.
0.4%
Team
Roles
Roles:
Founders / Exec
Engineering
Product & Design
Account Executive
Marketing
Customer Success
Finance & Ops
Benefits
Payroll benefits:
Health insurance, pension, payroll taxes, and any other on-costs you pay as a percentage of salary. We add this to every role's pay.
20%
Founders / Exec role
Department:
Groups this role's pay into a department line in your cost statement.
Operations
Expense type:
Where this role's pay lands in your costs. Pick COGS for people who deliver the product, OPEX for everyone else, and CAPEX if their work builds a lasting asset.
Operating expense (OPEX)
Salary type:
Annual
Salary amount:
USD 165,000
Initial headcount:
How many people are in this role at model start.
2
Hire rule:
Choose how headcount in this role grows over time.
No more hires
Annual salary growth:
How much you raise this salary each year. Each raise builds on the previous year's salary.
3%
Include bonus / commission:
Add a bonus or commission on top of the base salary.
No
Engineering role
Department:
Groups this role's pay into a department line in your cost statement.
Engineering and product
Expense type:
Where this role's pay lands in your costs. Pick COGS for people who deliver the product, OPEX for everyone else, and CAPEX if their work builds a lasting asset.
Operating expense (OPEX)
Salary type:
Annual
Salary amount:
USD 145,000
Initial headcount:
How many people are in this role at model start.
3
Hire rule:
Choose how headcount in this role grows over time.
Manual schedule
Hire schedule:
Planned new hires in each year of your model.
New hires per year, #
Y1
Y2
Y3
Y4
Y5
1
1
1
1
1
Annual salary growth:
How much you raise this salary each year. Each raise builds on the previous year's salary.
4%
Include bonus / commission:
Add a bonus or commission on top of the base salary.
No
Product & Design role
Department:
Groups this role's pay into a department line in your cost statement.
Engineering and product
Expense type:
Where this role's pay lands in your costs. Pick COGS for people who deliver the product, OPEX for everyone else, and CAPEX if their work builds a lasting asset.
Operating expense (OPEX)
Salary type:
Annual
Salary amount:
USD 135,000
Initial headcount:
How many people are in this role at model start.
1
Hire rule:
Choose how headcount in this role grows over time.
Manual schedule
Hire schedule:
Planned new hires in each year of your model.
New hires per year, #
Y1
Y2
Y3
Y4
Y5
0
1
0
1
0
Annual salary growth:
How much you raise this salary each year. Each raise builds on the previous year's salary.
3%
Include bonus / commission:
Add a bonus or commission on top of the base salary.
No
Account Executive role
Department:
Groups this role's pay into a department line in your cost statement.
Sales
Expense type:
Where this role's pay lands in your costs. Pick COGS for people who deliver the product, OPEX for everyone else, and CAPEX if their work builds a lasting asset.
Operating expense (OPEX)
Salary type:
Annual
Salary amount:
USD 95,000
Initial headcount:
How many people are in this role at model start.
1
Hire rule:
Choose how headcount in this role grows over time.
Per revenue
First hire month:
Month after model start when the first hire under this rule joins.
6
Revenue per hire:
Add one hire each time cumulative revenue grows by this amount.
USD 900,000
Max headcount:
Cap the total number of people in this role. Once reached, no more hires are added regardless of the hire rule.
8
Annual salary growth:
How much you raise this salary each year. Each raise builds on the previous year's salary.
3%
Include bonus / commission:
Add a bonus or commission on top of the base salary.
Yes
Bonus / commission rate:
Percentage of base salary paid as bonus or commission each period.
20%
Payment schedule type:
How often the bonus or commission is paid out.
Quarterly
Payment date:
The specific month or quarter when the bonus payment is made.
Jan / Apr / Jul / Oct
Marketing role
Department:
Groups this role's pay into a department line in your cost statement.
Marketing
Expense type:
Where this role's pay lands in your costs. Pick COGS for people who deliver the product, OPEX for everyone else, and CAPEX if their work builds a lasting asset.
Operating expense (OPEX)
Salary type:
Annual
Salary amount:
USD 105,000
Initial headcount:
How many people are in this role at model start.
1
Hire rule:
Choose how headcount in this role grows over time.
Manual schedule
Hire schedule:
Planned new hires in each year of your model.
New hires per year, #
Y1
Y2
Y3
Y4
Y5
0
1
0
1
0
Annual salary growth:
How much you raise this salary each year. Each raise builds on the previous year's salary.
3%
Include bonus / commission:
Add a bonus or commission on top of the base salary.
No
Customer Success role
Department:
Groups this role's pay into a department line in your cost statement.
Customer success and support
Expense type:
Where this role's pay lands in your costs. Pick COGS for people who deliver the product, OPEX for everyone else, and CAPEX if their work builds a lasting asset.
Cost of revenue (COGS)
Salary type:
Annual
Salary amount:
USD 72,000
Initial headcount:
How many people are in this role at model start.
1
Hire rule:
Choose how headcount in this role grows over time.
Per customers
First hire month:
Month after model start when the first hire under this rule joins.
6
Customers per hire:
Add one hire each time your customer count grows by this many.
500
Max headcount:
Cap the total number of people in this role. Once reached, no more hires are added regardless of the hire rule.
8
Annual salary growth:
How much you raise this salary each year. Each raise builds on the previous year's salary.
3%
Include bonus / commission:
Add a bonus or commission on top of the base salary.
No
Finance & Ops role
Department:
Groups this role's pay into a department line in your cost statement.
Finance and legal
Expense type:
Where this role's pay lands in your costs. Pick COGS for people who deliver the product, OPEX for everyone else, and CAPEX if their work builds a lasting asset.
Operating expense (OPEX)
Salary type:
Annual
Salary amount:
USD 110,000
Initial headcount:
How many people are in this role at model start.
1
Hire rule:
Choose how headcount in this role grows over time.
Manual schedule
Hire schedule:
Planned new hires in each year of your model.
New hires per year, #
Y1
Y2
Y3
Y4
Y5
0
0
1
0
1
Annual salary growth:
How much you raise this salary each year. Each raise builds on the previous year's salary.
3%
Include bonus / commission:
Add a bonus or commission on top of the base salary.
No
Costs
Cost of revenue
Cost of revenue configuration
Added costs:
Hosting & infrastructure
Payment processing
Hosting & infrastructure
Calculation type:
% of revenue
Percent of revenue:
You pay a set percentage of each month's revenue, so this cost rises as revenue grows.
7%
Payment processing
Calculation type:
% of revenue
Percent of revenue:
You pay a set percentage of each month's revenue, so this cost rises as revenue grows.
3%
Operating expenses
Operating expenses configuration
Added costs:
Software & tools
Office & facilities
G&A and legal
Marketing tools
Software & tools
Calculation type:
Fixed monthly amount
Monthly amount:
The same amount you pay every month, no matter how many customers or employees you have.
USD 4,500
Annual growth rate:
How fast this cost grows each year. Each year's growth builds on the last.
12%
Growth type:
Discrete applies each year's change in one annual jump. Continuous spreads it out a little every month. Year 1 always uses your starting value.
Continuous
Office & facilities
Calculation type:
Fixed monthly amount
Monthly amount:
The same amount you pay every month, no matter how many customers or employees you have.
USD 5,500
Annual growth rate:
How fast this cost grows each year. Each year's growth builds on the last.
5%
Growth type:
Discrete applies each year's change in one annual jump. Continuous spreads it out a little every month. Year 1 always uses your starting value.
Discrete
G&A and legal
Calculation type:
Fixed monthly amount
Monthly amount:
The same amount you pay every month, no matter how many customers or employees you have.
USD 5,000
Annual growth rate:
How fast this cost grows each year. Each year's growth builds on the last.
8%
Growth type:
Discrete applies each year's change in one annual jump. Continuous spreads it out a little every month. Year 1 always uses your starting value.
Discrete
Marketing tools
Calculation type:
Fixed monthly amount
Monthly amount:
The same amount you pay every month, no matter how many customers or employees you have.
USD 3,000
Annual growth rate:
How fast this cost grows each year. Each year's growth builds on the last.
18%
Growth type:
Discrete applies each year's change in one annual jump. Continuous spreads it out a little every month. Year 1 always uses your starting value.
Continuous
CAPEX
CAPEX configuration
Added costs:
Computers & equipment
Computers & equipment
Asset type:
Physical things like equipment, computers, and furniture are PPE. Licenses, patents, and software you build are intangible assets.
Property, plant & equipment
Calculation type:
Fixed monthly amount
Monthly amount:
The flat amount spent each month on this asset or purchase.
USD 2,500
Useful life:
How many years the asset stays useful. The model spreads its cost evenly over those years instead of expensing it all at once.
3 years
Annual growth rate:
How fast this cost grows each year. Each year's growth builds on the last.
10%
Growth type:
Discrete applies each year's change in one annual jump. Continuous spreads it out a little every month. Year 1 always uses your starting value.
Discrete
Taxes
Income tax
Income tax rate:
The percent of pre-tax profit you owe in income tax. This only applies in months you turn a profit, so many early-stage companies leave it at zero.
21%
Tax loss carryforward utilization rate:
How much of a profitable year's tax a past loss can offset. A higher rate means earlier losses shelter more of your future tax bill.
80%
Payment schedule type:
How often you settle income tax with the tax authority. This sets which months the payment lands in your cash flow.
Annually
Payment date:
The calendar month your annual income tax payment falls due.
March
VAT
VAT on sales:
The VAT or sales-tax rate you add to customer invoices. You collect this on behalf of the tax authority, so leave it at zero if it doesn't apply.
0%
VAT on costs:
The VAT or sales-tax rate you pay on your own costs. This is usually reclaimable, so it nets against the VAT you collect on sales.
0%
Payment schedule type:
How often you net VAT collected against VAT paid and settle with the tax authority. This sets which months the payment lands in your cash flow.
Annually
Payment date:
The calendar month your annual VAT settlement falls due.
January
Cash & funding
Working capital
Working capital
Payment collection period (AR turnover):
Average days between sending an invoice and receiving payment. Also called accounts-receivable turnover.
45 days
Creditors payment period (AP turnover):
Average days between receiving a vendor invoice and paying it. Also called accounts-payable turnover.
30 days
Balance sheet
Starting balance sheet
Other non-current assets:
Any other long-term assets that don't fit the lines above.
USD 0
Accounts receivable:
Money customers owe you for work you've already delivered.
USD 0
Deferred tax asset:
Future tax savings your business has already earned, usually from past losses. If you're not sure you have any, leave it at zero.
USD 0
VAT receivable:
VAT you've paid on purchases but haven't claimed back from the tax authority yet.
USD 0
Cash and cash equivalents:
Money in your bank accounts at model start, plus anything you can turn into cash within days.
USD 2,000,000
Other current assets:
Anything else you own that turns into cash within a year and doesn't fit the lines above.
USD 0
Share capital and premium:
Everything founders and investors have paid into the company for shares so far.
USD 2,200,000
Retained earnings:
All the profit your business has kept since day one. If you've lost money so far, enter the total as a negative number.
USD -200,000
Non-current borrowings:
What you still owe on loans taken out before your model starts.
USD 0
SAFE liability:
The total amount of SAFEs you've already raised before your model starts. Don't include planned SAFEs here: those go in the Financing step.
USD 0
Convertible notes payable:
What you still owe on convertible notes issued before your model starts.
USD 0
Accounts payable:
Money you owe vendors for goods or services you've already received.
USD 0
Current tax payable:
Tax your business owes for the current period but hasn't paid yet.
USD 0
VAT payable:
VAT collected from customers that you still owe to the tax authority.
USD 0
Accrued interest:
Interest your loans have built up that you haven't paid yet.
USD 0
Financing
Financing
Selected financing:
Equity round
Equity round
Equity round configuration
Added tranches:
Series A
Series A
Tranche size:
Total amount raised in this equity round.
USD 5,000,000
Tranche issue month:
Month when this round closes, relative to model start.
4 month #
Pre-money valuation:
What the company is worth before this round's money comes in.
USD 15,000,000
Current investor tranche?:
Pick Yes if this money comes from the investor whose returns you're tracking in this model.
Yes
Investor returns
Investor returns
Discount rate:
How much less future money is worth than money today, per year. A higher rate means far-off cash counts for less.
25%
Exit year:
Year of projected exit, relative to model start (year 1 = first full year).
5 year
Terminal value method:
How to estimate what the business is worth in the exit year.
Exit multiple
Exit valuation method:
Which number the exit multiple applies to: the company's revenue or its EBITDA.
EV / Revenue
Exit multiple:
Multiply revenue or EBITDA in the exit year by this number to estimate what the company sells for.
12x
Pre-round share:
The share of the company this investor already owns before putting in any new money.
0%
Prior investment amount:
Total amount the investor has already put in.
USD 0
Prior investment date:
Jan-25
Net income share in dividends:
The share of profit paid out to this investor as dividends.
0%
Key metrics
ARR:Annual recurring revenue at the end of the year.
$540K
Customers:Paying customers at the end of the year.
298
LTV / CAC:Lifetime value of a customer divided by the cost to acquire one.
3.8x
Additional funding needed:Extra funding needed on top of planned rounds to keep cash above zero.
-
ARR:Annual recurring revenue at the end of the year.
$1,338K
Customers:Paying customers at the end of the year.
616
LTV / CAC:Lifetime value of a customer divided by the cost to acquire one.
3.8x
Additional funding needed:Extra funding needed on top of planned rounds to keep cash above zero.
-
ARR:Annual recurring revenue at the end of the year.
$2,576K
Customers:Paying customers at the end of the year.
1,033
LTV / CAC:Lifetime value of a customer divided by the cost to acquire one.
3.8x
Additional funding needed:Extra funding needed on top of planned rounds to keep cash above zero.
-
ARR:Annual recurring revenue at the end of the year.
$4,456K
Customers:Paying customers at the end of the year.
1,604
LTV / CAC:Lifetime value of a customer divided by the cost to acquire one.
3.8x
Additional funding needed:Extra funding needed on top of planned rounds to keep cash above zero.
-
ARR:Annual recurring revenue at the end of the year.
$7,290K
Customers:Paying customers at the end of the year.
2,401
LTV / CAC:Lifetime value of a customer divided by the cost to acquire one.
3.8x
Additional funding needed:Extra funding needed on top of planned rounds to keep cash above zero.
-
Cash health
Your model stays solvent on planned funding. Strong shape. You can stress-test it from here.
Lowest cash month:
The month where your bank balance is at its lowest across the five years.
Month 49
Lowest cash balance:
Your lowest bank balance across the five years.
$202K
Additional funding needed:
Extra funding needed on top of planned rounds to keep cash above zero.
-
Runway:
How long until cash runs out on the current plan, including planned funding.
5+ years
Months to profitability:
The first month where net income turns positive.
Not within 5 years
Planned funding:
Total capital your plan already assumes you raise.
$5,000K
Customers
| Y1 2026 | Y2 2027 | Y3 2028 | Y4 2029 | Y5 2030 | ||
|---|---|---|---|---|---|---|
| New leads People who showed interest in the period, before any of them convert to paying customers. | # | 5,891 | 8,267 | 11,281 | 15,374 | 20,945 |
| Paid ads | # | 3,987 | 5,506 | 7,604 | 10,501 | 14,501 |
| SEO | # | 999 | 1,298 | 1,688 | 2,194 | 2,853 |
| Word of Mouth / Referral | # | 58 | 168 | 306 | 491 | 748 |
| Outbound sales | # | 848 | 1,295 | 1,683 | 2,188 | 2,844 |
| New customers Leads that converted to a paid plan in the period. | # | 295 | 424 | 578 | 788 | 1,074 |
| Starter plan | # | 177 | 220 | 260 | 315 | 376 |
| Growth plan | # | 94 | 153 | 231 | 331 | 473 |
| Enterprise plan | # | 24 | 51 | 87 | 142 | 226 |
| Churned customers Customers who cancelled in the period. | # | 42 | 107 | 164 | 221 | 284 |
| Starter plan | # | 42 | 104 | 157 | 208 | 263 |
| Growth plan | # | - | 2 | 6 | 11 | 18 |
| Enterprise plan | # | - | 0 | 1 | 2 | 4 |
| Total customers Paying customers at the end of the period. | # | 298 | 616 | 1,033 | 1,604 | 2,401 |
| Starter plan | # | 165 | 282 | 387 | 498 | 617 |
| Growth plan | # | 106 | 257 | 482 | 803 | 1,258 |
| Enterprise plan | # | 27 | 77 | 163 | 303 | 525 |
| Q1 Jan–Mar '26 | Q2 Apr–Jun '26 | Q3 Jul–Sep '26 | Q4 Oct–Dec '26 | Q5 Jan–Mar '27 | Q6 Apr–Jun '27 | Q7 Jul–Sep '27 | Q8 Oct–Dec '27 | Q9 Jan–Mar '28 | Q10 Apr–Jun '28 | Q11 Jul–Sep '28 | Q12 Oct–Dec '28 | Q13 Jan–Mar '29 | Q14 Apr–Jun '29 | Q15 Jul–Sep '29 | Q16 Oct–Dec '29 | Q17 Jan–Mar '30 | Q18 Apr–Jun '30 | Q19 Jul–Sep '30 | Q20 Oct–Dec '30 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| New leads People who showed interest in the period, before any of them convert to paying customers. | # | 1,187 | 1,446 | 1,565 | 1,693 | 1,832 | 1,980 | 2,141 | 2,314 | 2,501 | 2,703 | 2,921 | 3,156 | 3,410 | 3,684 | 3,980 | 4,300 | 4,646 | 5,019 | 5,422 | 5,858 |
| Paid ads | # | 880 | 954 | 1,034 | 1,121 | 1,215 | 1,317 | 1,427 | 1,547 | 1,677 | 1,818 | 1,971 | 2,137 | 2,316 | 2,511 | 2,722 | 2,951 | 3,199 | 3,468 | 3,759 | 4,075 |
| SEO | # | 226 | 241 | 257 | 275 | 293 | 313 | 335 | 357 | 381 | 407 | 435 | 464 | 496 | 529 | 565 | 604 | 645 | 688 | 735 | 785 |
| Word of Mouth / Referral | # | 5 | 11 | 18 | 24 | 31 | 38 | 46 | 54 | 62 | 71 | 81 | 92 | 103 | 115 | 129 | 144 | 159 | 177 | 195 | 216 |
| Outbound sales | # | 77 | 240 | 257 | 274 | 293 | 312 | 334 | 356 | 380 | 406 | 434 | 463 | 494 | 528 | 564 | 602 | 643 | 686 | 733 | 782 |
| New customers Leads that converted to a paid plan in the period. | # | 58 | 70 | 80 | 87 | 94 | 102 | 110 | 119 | 128 | 139 | 150 | 162 | 175 | 189 | 204 | 221 | 238 | 257 | 278 | 300 |
| Starter plan | # | 35 | 42 | 48 | 52 | 49 | 53 | 57 | 62 | 58 | 62 | 67 | 73 | 70 | 76 | 82 | 88 | 83 | 90 | 97 | 105 |
| Growth plan | # | 19 | 22 | 26 | 28 | 34 | 37 | 40 | 43 | 51 | 55 | 60 | 65 | 73 | 79 | 86 | 93 | 105 | 113 | 122 | 132 |
| Enterprise plan | # | 5 | 6 | 6 | 7 | 11 | 12 | 13 | 14 | 19 | 21 | 22 | 24 | 31 | 34 | 37 | 40 | 50 | 54 | 58 | 63 |
| Churned customers Customers who cancelled in the period. | # | 4 | 9 | 13 | 17 | 22 | 25 | 28 | 32 | 36 | 39 | 42 | 46 | 50 | 53 | 57 | 61 | 66 | 69 | 73 | 77 |
| Starter plan | # | 4 | 9 | 13 | 17 | 21 | 24 | 28 | 31 | 35 | 38 | 41 | 44 | 47 | 50 | 54 | 57 | 61 | 64 | 67 | 71 |
| Growth plan | # | - | - | - | - | 1 | 0 | 1 | 1 | 1 | 1 | 1 | 2 | 2 | 2 | 3 | 3 | 4 | 4 | 5 | 5 |
| Enterprise plan | # | - | - | - | - | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 1 | 1 | 1 | 1 |
| Total customers Paying customers at the end of the period. | # | 99 | 161 | 228 | 298 | 370 | 447 | 529 | 616 | 708 | 808 | 916 | 1,033 | 1,158 | 1,295 | 1,443 | 1,604 | 1,778 | 1,968 | 2,176 | 2,401 |
| Starter plan | # | 61 | 95 | 130 | 165 | 193 | 222 | 251 | 282 | 305 | 331 | 358 | 387 | 411 | 437 | 466 | 498 | 522 | 550 | 582 | 617 |
| Growth plan | # | 31 | 53 | 79 | 106 | 140 | 176 | 215 | 257 | 307 | 361 | 419 | 482 | 553 | 630 | 713 | 803 | 904 | 1,013 | 1,131 | 1,258 |
| Enterprise plan | # | 8 | 13 | 20 | 27 | 38 | 50 | 63 | 77 | 96 | 117 | 139 | 163 | 194 | 228 | 264 | 303 | 352 | 405 | 463 | 525 |
| M1 Jan '26 | M2 Feb '26 | M3 Mar '26 | M4 Apr '26 | M5 May '26 | M6 Jun '26 | M7 Jul '26 | M8 Aug '26 | M9 Sep '26 | M10 Oct '26 | M11 Nov '26 | M12 Dec '26 | M13 Jan '27 | M14 Feb '27 | M15 Mar '27 | M16 Apr '27 | M17 May '27 | M18 Jun '27 | M19 Jul '27 | M20 Aug '27 | M21 Sep '27 | M22 Oct '27 | M23 Nov '27 | M24 Dec '27 | M25 Jan '28 | M26 Feb '28 | M27 Mar '28 | M28 Apr '28 | M29 May '28 | M30 Jun '28 | M31 Jul '28 | M32 Aug '28 | M33 Sep '28 | M34 Oct '28 | M35 Nov '28 | M36 Dec '28 | M37 Jan '29 | M38 Feb '29 | M39 Mar '29 | M40 Apr '29 | M41 May '29 | M42 Jun '29 | M43 Jul '29 | M44 Aug '29 | M45 Sep '29 | M46 Oct '29 | M47 Nov '29 | M48 Dec '29 | M49 Jan '30 | M50 Feb '30 | M51 Mar '30 | M52 Apr '30 | M53 May '30 | M54 Jun '30 | M55 Jul '30 | M56 Aug '30 | M57 Sep '30 | M58 Oct '30 | M59 Nov '30 | M60 Dec '30 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| New leads People who showed interest in the period, before any of them convert to paying customers. | # | 359 | 370 | 457 | 469 | 482 | 495 | 508 | 522 | 536 | 550 | 564 | 579 | 595 | 610 | 627 | 643 | 660 | 677 | 695 | 714 | 732 | 752 | 771 | 791 | 812 | 834 | 855 | 878 | 901 | 924 | 949 | 973 | 999 | 1,025 | 1,052 | 1,079 | 1,107 | 1,136 | 1,166 | 1,196 | 1,228 | 1,260 | 1,293 | 1,326 | 1,361 | 1,397 | 1,433 | 1,470 | 1,509 | 1,548 | 1,589 | 1,630 | 1,673 | 1,716 | 1,761 | 1,807 | 1,854 | 1,903 | 1,952 | 2,003 |
| Paid ads | # | 285 | 293 | 301 | 309 | 318 | 326 | 335 | 344 | 354 | 364 | 373 | 384 | 394 | 405 | 416 | 427 | 439 | 451 | 463 | 476 | 489 | 502 | 516 | 530 | 544 | 559 | 574 | 590 | 606 | 623 | 639 | 657 | 675 | 693 | 712 | 732 | 751 | 772 | 793 | 815 | 837 | 860 | 883 | 907 | 932 | 957 | 983 | 1,010 | 1,038 | 1,066 | 1,095 | 1,125 | 1,156 | 1,187 | 1,220 | 1,253 | 1,287 | 1,322 | 1,358 | 1,395 |
| SEO | # | 74 | 75 | 77 | 79 | 80 | 82 | 84 | 86 | 88 | 90 | 92 | 94 | 96 | 98 | 100 | 102 | 104 | 107 | 109 | 111 | 114 | 116 | 119 | 122 | 124 | 127 | 130 | 133 | 136 | 139 | 142 | 145 | 148 | 151 | 155 | 158 | 162 | 165 | 169 | 173 | 176 | 180 | 184 | 188 | 193 | 197 | 201 | 206 | 210 | 215 | 220 | 224 | 229 | 234 | 240 | 245 | 250 | 256 | 262 | 267 |
| Word of Mouth / Referral | # | - | 2 | 3 | 3 | 4 | 4 | 5 | 6 | 7 | 7 | 8 | 9 | 10 | 10 | 11 | 12 | 13 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 | 23 | 24 | 25 | 26 | 27 | 28 | 29 | 31 | 32 | 33 | 34 | 36 | 37 | 38 | 40 | 41 | 43 | 45 | 46 | 48 | 50 | 51 | 53 | 55 | 57 | 59 | 61 | 63 | 65 | 67 | 70 | 72 | 74 |
| Outbound sales | # | - | - | 77 | 78 | 80 | 82 | 84 | 86 | 87 | 89 | 91 | 93 | 95 | 98 | 100 | 102 | 104 | 106 | 109 | 111 | 114 | 116 | 119 | 121 | 124 | 127 | 130 | 132 | 135 | 138 | 141 | 145 | 148 | 151 | 154 | 158 | 161 | 165 | 168 | 172 | 176 | 180 | 184 | 188 | 192 | 196 | 201 | 205 | 210 | 214 | 219 | 224 | 229 | 234 | 239 | 244 | 250 | 255 | 261 | 267 |
| New customers Leads that converted to a paid plan in the period. | # | 19 | 19 | 19 | 20 | 25 | 25 | 26 | 27 | 27 | 28 | 29 | 30 | 30 | 31 | 32 | 33 | 34 | 35 | 36 | 37 | 38 | 39 | 40 | 41 | 42 | 43 | 44 | 45 | 46 | 47 | 49 | 50 | 51 | 53 | 54 | 55 | 57 | 58 | 60 | 61 | 63 | 65 | 66 | 68 | 70 | 72 | 73 | 75 | 77 | 79 | 81 | 84 | 86 | 88 | 90 | 93 | 95 | 98 | 100 | 103 |
| Starter plan | # | 12 | 12 | 12 | 12 | 15 | 15 | 16 | 16 | 16 | 17 | 17 | 18 | 16 | 16 | 17 | 17 | 18 | 18 | 19 | 19 | 20 | 20 | 21 | 21 | 19 | 19 | 20 | 20 | 21 | 21 | 22 | 22 | 23 | 24 | 24 | 25 | 23 | 23 | 24 | 25 | 25 | 26 | 27 | 27 | 28 | 29 | 29 | 30 | 27 | 28 | 29 | 29 | 30 | 31 | 32 | 32 | 33 | 34 | 35 | 36 |
| Growth plan | # | 6 | 6 | 6 | 6 | 8 | 8 | 8 | 9 | 9 | 9 | 9 | 9 | 11 | 11 | 12 | 12 | 12 | 13 | 13 | 13 | 14 | 14 | 14 | 15 | 17 | 17 | 18 | 18 | 18 | 19 | 19 | 20 | 20 | 21 | 22 | 22 | 24 | 24 | 25 | 26 | 26 | 27 | 28 | 29 | 29 | 30 | 31 | 32 | 34 | 35 | 36 | 37 | 38 | 39 | 40 | 41 | 42 | 43 | 44 | 45 |
| Enterprise plan | # | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 5 | 5 | 5 | 5 | 6 | 6 | 7 | 7 | 7 | 7 | 7 | 7 | 8 | 8 | 8 | 8 | 10 | 10 | 11 | 11 | 11 | 12 | 12 | 12 | 13 | 13 | 13 | 14 | 16 | 17 | 17 | 18 | 18 | 18 | 19 | 19 | 20 | 20 | 21 | 22 |
| Churned customers Customers who cancelled in the period. | # | - | 2 | 2 | 2 | 3 | 3 | 4 | 4 | 5 | 5 | 6 | 6 | 7 | 7 | 8 | 8 | 8 | 9 | 9 | 9 | 10 | 10 | 11 | 11 | 12 | 12 | 12 | 13 | 13 | 13 | 14 | 14 | 15 | 15 | 15 | 16 | 17 | 17 | 17 | 17 | 18 | 18 | 19 | 19 | 19 | 20 | 20 | 21 | 22 | 22 | 22 | 22 | 23 | 23 | 24 | 24 | 25 | 25 | 26 | 26 |
| Starter plan | # | - | 2 | 2 | 2 | 3 | 3 | 4 | 4 | 5 | 5 | 6 | 6 | 7 | 7 | 7 | 8 | 8 | 8 | 9 | 9 | 10 | 10 | 10 | 11 | 11 | 12 | 12 | 12 | 13 | 13 | 13 | 14 | 14 | 14 | 15 | 15 | 15 | 16 | 16 | 16 | 17 | 17 | 17 | 18 | 18 | 19 | 19 | 19 | 20 | 20 | 21 | 21 | 21 | 22 | 22 | 22 | 23 | 23 | 24 | 24 |
| Growth plan | # | - | - | - | - | - | - | - | - | - | - | - | - | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 2 | 2 | 2 | 2 | 2 |
| Enterprise plan | # | - | - | - | - | - | - | - | - | - | - | - | - | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total customers Paying customers at the end of the period. | # | 64 | 82 | 99 | 117 | 139 | 161 | 183 | 206 | 228 | 251 | 275 | 298 | 322 | 346 | 370 | 396 | 421 | 447 | 474 | 501 | 529 | 557 | 586 | 616 | 646 | 676 | 708 | 741 | 774 | 808 | 843 | 879 | 916 | 954 | 993 | 1,033 | 1,073 | 1,115 | 1,158 | 1,202 | 1,248 | 1,295 | 1,343 | 1,392 | 1,443 | 1,495 | 1,549 | 1,604 | 1,660 | 1,718 | 1,778 | 1,840 | 1,903 | 1,968 | 2,036 | 2,105 | 2,176 | 2,248 | 2,324 | 2,401 |
| Starter plan | # | 42 | 52 | 61 | 71 | 83 | 95 | 106 | 118 | 130 | 142 | 153 | 165 | 174 | 184 | 193 | 203 | 212 | 222 | 232 | 241 | 251 | 261 | 272 | 282 | 290 | 297 | 305 | 314 | 322 | 331 | 339 | 348 | 358 | 367 | 377 | 387 | 395 | 402 | 411 | 419 | 428 | 437 | 446 | 456 | 466 | 476 | 487 | 498 | 506 | 514 | 522 | 531 | 540 | 550 | 560 | 571 | 582 | 593 | 605 | 617 |
| Growth plan | # | 18 | 24 | 31 | 37 | 45 | 53 | 61 | 70 | 79 | 88 | 97 | 106 | 117 | 128 | 140 | 151 | 163 | 176 | 188 | 201 | 215 | 228 | 242 | 257 | 273 | 289 | 307 | 324 | 342 | 361 | 380 | 399 | 419 | 440 | 461 | 482 | 505 | 529 | 553 | 578 | 604 | 630 | 657 | 685 | 713 | 743 | 772 | 803 | 836 | 869 | 904 | 939 | 976 | 1,013 | 1,051 | 1,091 | 1,131 | 1,172 | 1,215 | 1,258 |
| Enterprise plan | # | 5 | 6 | 8 | 9 | 11 | 13 | 15 | 17 | 20 | 22 | 24 | 27 | 30 | 34 | 38 | 42 | 46 | 50 | 54 | 59 | 63 | 68 | 72 | 77 | 83 | 90 | 96 | 103 | 110 | 117 | 124 | 131 | 139 | 147 | 155 | 163 | 173 | 183 | 194 | 205 | 216 | 228 | 239 | 251 | 264 | 277 | 290 | 303 | 319 | 335 | 352 | 369 | 387 | 405 | 424 | 443 | 463 | 483 | 504 | 525 |
Revenue
| Y1 2026 | Y2 2027 | Y3 2028 | Y4 2029 | Y5 2030 | ||
|---|---|---|---|---|---|---|
| Revenue Revenue recognized in the period, the way it appears in your income statement. | $K | 252 | 840 | 1,885 | 3,640 | 6,522 |
| Starter plan | $K | 60 | 140 | 218 | 302 | 399 |
| Growth plan | $K | 94 | 318 | 708 | 1,324 | 2,264 |
| Enterprise plan | $K | 98 | 382 | 959 | 2,015 | 3,859 |
| MRR Monthly recurring revenue at the end of the period. | $K | 45 | 112 | 215 | 371 | 608 |
| Starter plan | $K | 8 | 14 | 19 | 24 | 30 |
| Growth plan | $K | 19 | 46 | 86 | 144 | 225 |
| Enterprise plan | $K | 18 | 52 | 109 | 203 | 352 |
| ARR Annual recurring revenue, the MRR run rate times twelve. | $K | 540 | 1,338 | 2,576 | 4,456 | 7,290 |
| Starter plan | $K | 97 | 166 | 228 | 293 | 363 |
| Growth plan | $K | 229 | 552 | 1,037 | 1,726 | 2,704 |
| Enterprise plan | $K | 214 | 621 | 1,311 | 2,437 | 4,223 |
| Billings Cash you invoice in the period, including amounts billed up front for longer contracts. | $K | 471 | 1,313 | 2,734 | 5,062 | 8,841 |
| Starter plan | $K | 60 | 140 | 218 | 302 | 399 |
| Growth plan | $K | 229 | 579 | 1,143 | 1,998 | 3,287 |
| Enterprise plan | $K | 182 | 593 | 1,373 | 2,762 | 5,156 |
| Deferred revenue Cash billed but not yet recognized as revenue. A liability until you deliver the service. | $K | 219 | 692 | 1,541 | 2,963 | 5,282 |
| Starter plan | $K | - | - | - | - | - |
| Growth plan | $K | 1,033 | 3,500 | 7,783 | 14,561 | 24,904 |
| Enterprise plan | $K | 642 | 2,526 | 6,427 | 13,616 | 26,221 |
| Q1 Jan–Mar '26 | Q2 Apr–Jun '26 | Q3 Jul–Sep '26 | Q4 Oct–Dec '26 | Q5 Jan–Mar '27 | Q6 Apr–Jun '27 | Q7 Jul–Sep '27 | Q8 Oct–Dec '27 | Q9 Jan–Mar '28 | Q10 Apr–Jun '28 | Q11 Jul–Sep '28 | Q12 Oct–Dec '28 | Q13 Jan–Mar '29 | Q14 Apr–Jun '29 | Q15 Jul–Sep '29 | Q16 Oct–Dec '29 | Q17 Jan–Mar '30 | Q18 Apr–Jun '30 | Q19 Jul–Sep '30 | Q20 Oct–Dec '30 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue Revenue recognized in the period, the way it appears in your income statement. | $K | 32 | 52 | 74 | 95 | 146 | 189 | 232 | 274 | 358 | 434 | 509 | 584 | 720 | 847 | 973 | 1,100 | 1,319 | 1,526 | 1,734 | 1,944 |
| Starter plan | $K | 8 | 12 | 17 | 23 | 28 | 33 | 37 | 42 | 48 | 52 | 56 | 61 | 69 | 73 | 78 | 83 | 92 | 97 | 102 | 108 |
| Growth plan | $K | 12 | 20 | 27 | 35 | 55 | 72 | 88 | 103 | 135 | 163 | 191 | 218 | 265 | 309 | 353 | 396 | 465 | 532 | 600 | 667 |
| Enterprise plan | $K | 12 | 20 | 29 | 38 | 62 | 84 | 107 | 129 | 175 | 218 | 262 | 305 | 386 | 465 | 543 | 621 | 762 | 897 | 1,032 | 1,168 |
| MRR Monthly recurring revenue at the end of the period. | $K | 14 | 23 | 34 | 45 | 60 | 76 | 93 | 112 | 134 | 159 | 186 | 215 | 249 | 287 | 327 | 371 | 424 | 480 | 541 | 608 |
| Starter plan | $K | 3 | 5 | 6 | 8 | 9 | 11 | 12 | 14 | 15 | 16 | 18 | 19 | 20 | 21 | 23 | 24 | 26 | 27 | 29 | 30 |
| Growth plan | $K | 5 | 9 | 14 | 19 | 25 | 31 | 38 | 46 | 55 | 65 | 75 | 86 | 99 | 113 | 128 | 144 | 162 | 181 | 203 | 225 |
| Enterprise plan | $K | 5 | 9 | 13 | 18 | 25 | 33 | 42 | 52 | 64 | 78 | 93 | 109 | 130 | 153 | 177 | 203 | 236 | 272 | 310 | 352 |
| ARR Annual recurring revenue, the MRR run rate times twelve. | $K | 163 | 276 | 404 | 540 | 717 | 909 | 1,116 | 1,338 | 1,612 | 1,909 | 2,229 | 2,576 | 2,992 | 3,442 | 3,929 | 4,456 | 5,083 | 5,762 | 6,496 | 7,290 |
| Starter plan | $K | 36 | 56 | 76 | 97 | 114 | 130 | 148 | 166 | 180 | 194 | 210 | 228 | 241 | 257 | 274 | 293 | 307 | 323 | 342 | 363 |
| Growth plan | $K | 66 | 114 | 169 | 229 | 300 | 377 | 461 | 552 | 659 | 775 | 901 | 1,037 | 1,189 | 1,355 | 1,533 | 1,726 | 1,943 | 2,177 | 2,431 | 2,704 |
| Enterprise plan | $K | 62 | 107 | 158 | 214 | 304 | 401 | 507 | 621 | 774 | 939 | 1,118 | 1,311 | 1,561 | 1,831 | 2,122 | 2,437 | 2,833 | 3,261 | 3,723 | 4,223 |
| Billings Cash you invoice in the period, including amounts billed up front for longer contracts. | $K | 118 | 98 | 119 | 136 | 304 | 299 | 337 | 373 | 618 | 638 | 705 | 772 | 1,130 | 1,194 | 1,309 | 1,429 | 1,962 | 2,096 | 2,290 | 2,494 |
| Starter plan | $K | 8 | 12 | 17 | 23 | 28 | 33 | 37 | 42 | 48 | 52 | 56 | 61 | 69 | 73 | 78 | 83 | 92 | 97 | 102 | 108 |
| Growth plan | $K | 66 | 48 | 55 | 60 | 144 | 132 | 146 | 158 | 269 | 267 | 292 | 315 | 459 | 472 | 513 | 554 | 746 | 780 | 847 | 915 |
| Enterprise plan | $K | 45 | 38 | 46 | 53 | 132 | 134 | 154 | 173 | 301 | 319 | 357 | 396 | 603 | 649 | 719 | 791 | 1,124 | 1,219 | 1,341 | 1,471 |
| Deferred revenue Cash billed but not yet recognized as revenue. A liability until you deliver the service. | $K | 87 | 133 | 178 | 219 | 377 | 488 | 593 | 692 | 952 | 1,157 | 1,353 | 1,541 | 1,951 | 2,298 | 2,634 | 2,963 | 3,606 | 4,175 | 4,731 | 5,282 |
| Starter plan | $K | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Growth plan | $K | 135 | 216 | 302 | 380 | 610 | 789 | 967 | 1,134 | 1,486 | 1,796 | 2,103 | 2,398 | 2,915 | 3,401 | 3,885 | 4,360 | 5,112 | 5,855 | 6,598 | 7,339 |
| Enterprise plan | $K | 84 | 134 | 188 | 236 | 411 | 563 | 709 | 844 | 1,161 | 1,468 | 1,761 | 2,038 | 2,584 | 3,147 | 3,684 | 4,200 | 5,121 | 6,102 | 7,042 | 7,956 |
| M1 Jan '26 | M2 Feb '26 | M3 Mar '26 | M4 Apr '26 | M5 May '26 | M6 Jun '26 | M7 Jul '26 | M8 Aug '26 | M9 Sep '26 | M10 Oct '26 | M11 Nov '26 | M12 Dec '26 | M13 Jan '27 | M14 Feb '27 | M15 Mar '27 | M16 Apr '27 | M17 May '27 | M18 Jun '27 | M19 Jul '27 | M20 Aug '27 | M21 Sep '27 | M22 Oct '27 | M23 Nov '27 | M24 Dec '27 | M25 Jan '28 | M26 Feb '28 | M27 Mar '28 | M28 Apr '28 | M29 May '28 | M30 Jun '28 | M31 Jul '28 | M32 Aug '28 | M33 Sep '28 | M34 Oct '28 | M35 Nov '28 | M36 Dec '28 | M37 Jan '29 | M38 Feb '29 | M39 Mar '29 | M40 Apr '29 | M41 May '29 | M42 Jun '29 | M43 Jul '29 | M44 Aug '29 | M45 Sep '29 | M46 Oct '29 | M47 Nov '29 | M48 Dec '29 | M49 Jan '30 | M50 Feb '30 | M51 Mar '30 | M52 Apr '30 | M53 May '30 | M54 Jun '30 | M55 Jul '30 | M56 Aug '30 | M57 Sep '30 | M58 Oct '30 | M59 Nov '30 | M60 Dec '30 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue Revenue recognized in the period, the way it appears in your income statement. | $K | 8 | 11 | 13 | 15 | 17 | 20 | 22 | 25 | 27 | 29 | 32 | 34 | 44 | 49 | 53 | 58 | 63 | 68 | 73 | 77 | 82 | 87 | 91 | 96 | 111 | 119 | 128 | 136 | 145 | 153 | 161 | 170 | 178 | 186 | 195 | 203 | 226 | 240 | 254 | 268 | 282 | 296 | 310 | 324 | 339 | 353 | 367 | 381 | 416 | 440 | 463 | 485 | 509 | 532 | 555 | 578 | 601 | 624 | 648 | 672 |
| Starter plan | $K | 2 | 3 | 3 | 3 | 4 | 5 | 5 | 6 | 6 | 7 | 8 | 8 | 9 | 9 | 10 | 10 | 11 | 11 | 12 | 12 | 13 | 13 | 14 | 15 | 16 | 16 | 16 | 17 | 17 | 18 | 18 | 19 | 19 | 20 | 20 | 21 | 22 | 23 | 23 | 24 | 24 | 25 | 25 | 26 | 26 | 27 | 28 | 28 | 30 | 31 | 31 | 32 | 32 | 33 | 33 | 34 | 35 | 35 | 36 | 37 |
| Growth plan | $K | 3 | 4 | 5 | 6 | 7 | 7 | 8 | 9 | 10 | 11 | 12 | 12 | 17 | 19 | 20 | 22 | 24 | 26 | 28 | 29 | 31 | 33 | 34 | 36 | 42 | 45 | 48 | 51 | 54 | 58 | 61 | 64 | 67 | 70 | 73 | 76 | 83 | 88 | 93 | 98 | 103 | 108 | 113 | 118 | 123 | 127 | 132 | 137 | 147 | 155 | 162 | 170 | 177 | 185 | 192 | 200 | 207 | 215 | 222 | 230 |
| Enterprise plan | $K | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 18 | 21 | 23 | 26 | 28 | 31 | 33 | 36 | 38 | 40 | 43 | 45 | 53 | 58 | 63 | 68 | 73 | 78 | 82 | 87 | 92 | 97 | 102 | 106 | 120 | 129 | 138 | 146 | 155 | 164 | 172 | 181 | 190 | 198 | 207 | 216 | 239 | 254 | 269 | 284 | 299 | 314 | 329 | 344 | 359 | 374 | 389 | 405 |
| MRR Monthly recurring revenue at the end of the period. | $K | 8 | 11 | 14 | 16 | 20 | 23 | 26 | 30 | 34 | 37 | 41 | 45 | 50 | 55 | 60 | 65 | 70 | 76 | 81 | 87 | 93 | 99 | 105 | 112 | 119 | 126 | 134 | 142 | 151 | 159 | 168 | 177 | 186 | 195 | 205 | 215 | 226 | 237 | 249 | 261 | 274 | 287 | 300 | 314 | 327 | 342 | 356 | 371 | 388 | 406 | 424 | 442 | 461 | 480 | 500 | 520 | 541 | 563 | 585 | 608 |
| Starter plan | $K | 2 | 3 | 3 | 3 | 4 | 5 | 5 | 6 | 6 | 7 | 8 | 8 | 9 | 9 | 9 | 10 | 10 | 11 | 11 | 12 | 12 | 13 | 13 | 14 | 14 | 15 | 15 | 15 | 16 | 16 | 17 | 17 | 18 | 18 | 18 | 19 | 19 | 20 | 20 | 21 | 21 | 21 | 22 | 22 | 23 | 23 | 24 | 24 | 25 | 25 | 26 | 26 | 26 | 27 | 27 | 28 | 29 | 29 | 30 | 30 |
| Growth plan | $K | 3 | 4 | 5 | 7 | 8 | 9 | 11 | 13 | 14 | 16 | 17 | 19 | 21 | 23 | 25 | 27 | 29 | 31 | 34 | 36 | 38 | 41 | 43 | 46 | 49 | 52 | 55 | 58 | 61 | 65 | 68 | 72 | 75 | 79 | 83 | 86 | 91 | 95 | 99 | 104 | 108 | 113 | 118 | 123 | 128 | 133 | 138 | 144 | 150 | 156 | 162 | 168 | 175 | 181 | 188 | 195 | 203 | 210 | 218 | 225 |
| Enterprise plan | $K | 3 | 4 | 5 | 6 | 8 | 9 | 10 | 12 | 13 | 15 | 16 | 18 | 20 | 23 | 25 | 28 | 31 | 33 | 36 | 39 | 42 | 45 | 48 | 52 | 56 | 60 | 64 | 69 | 74 | 78 | 83 | 88 | 93 | 98 | 104 | 109 | 116 | 123 | 130 | 137 | 145 | 153 | 160 | 169 | 177 | 185 | 194 | 203 | 214 | 225 | 236 | 248 | 260 | 272 | 284 | 297 | 310 | 324 | 338 | 352 |
| ARR Annual recurring revenue, the MRR run rate times twelve. | $K | 100 | 132 | 163 | 196 | 235 | 276 | 318 | 360 | 404 | 448 | 494 | 540 | 597 | 657 | 717 | 780 | 844 | 909 | 976 | 1,045 | 1,116 | 1,188 | 1,262 | 1,338 | 1,426 | 1,518 | 1,612 | 1,708 | 1,807 | 1,909 | 2,013 | 2,120 | 2,229 | 2,342 | 2,457 | 2,576 | 2,710 | 2,849 | 2,992 | 3,138 | 3,288 | 3,442 | 3,600 | 3,763 | 3,929 | 4,100 | 4,276 | 4,456 | 4,659 | 4,868 | 5,083 | 5,303 | 5,529 | 5,762 | 6,000 | 6,245 | 6,496 | 6,754 | 7,019 | 7,290 |
| Starter plan | $K | 24 | 30 | 36 | 42 | 49 | 56 | 63 | 70 | 76 | 83 | 90 | 97 | 103 | 108 | 114 | 119 | 125 | 130 | 136 | 142 | 148 | 154 | 160 | 166 | 170 | 175 | 180 | 184 | 189 | 194 | 200 | 205 | 210 | 216 | 222 | 228 | 232 | 237 | 241 | 246 | 251 | 257 | 262 | 268 | 274 | 280 | 286 | 293 | 297 | 302 | 307 | 312 | 318 | 323 | 329 | 336 | 342 | 349 | 356 | 363 |
| Growth plan | $K | 39 | 52 | 66 | 80 | 97 | 114 | 132 | 150 | 169 | 188 | 208 | 229 | 251 | 275 | 300 | 325 | 351 | 377 | 405 | 433 | 461 | 491 | 521 | 552 | 586 | 622 | 659 | 697 | 736 | 775 | 816 | 858 | 901 | 945 | 990 | 1,037 | 1,086 | 1,137 | 1,189 | 1,243 | 1,298 | 1,355 | 1,413 | 1,472 | 1,533 | 1,596 | 1,660 | 1,726 | 1,796 | 1,868 | 1,943 | 2,019 | 2,097 | 2,177 | 2,260 | 2,344 | 2,431 | 2,520 | 2,611 | 2,704 |
| Enterprise plan | $K | 37 | 49 | 62 | 74 | 90 | 107 | 123 | 141 | 158 | 176 | 195 | 214 | 243 | 273 | 304 | 336 | 368 | 401 | 436 | 471 | 507 | 544 | 582 | 621 | 670 | 721 | 774 | 827 | 882 | 939 | 997 | 1,057 | 1,118 | 1,181 | 1,245 | 1,311 | 1,392 | 1,475 | 1,561 | 1,648 | 1,738 | 1,831 | 1,925 | 2,022 | 2,122 | 2,225 | 2,329 | 2,437 | 2,566 | 2,698 | 2,833 | 2,972 | 3,115 | 3,261 | 3,411 | 3,565 | 3,723 | 3,886 | 4,052 | 4,223 |
| Billings Cash you invoice in the period, including amounts billed up front for longer contracts. | $K | 67 | 26 | 26 | 28 | 34 | 36 | 38 | 40 | 41 | 43 | 45 | 47 | 128 | 87 | 90 | 93 | 101 | 105 | 109 | 112 | 116 | 120 | 124 | 128 | 231 | 191 | 197 | 203 | 214 | 221 | 228 | 235 | 242 | 250 | 257 | 265 | 398 | 361 | 371 | 383 | 399 | 411 | 424 | 436 | 449 | 462 | 476 | 490 | 669 | 637 | 656 | 675 | 700 | 721 | 742 | 763 | 785 | 808 | 831 | 855 |
| Starter plan | $K | 2 | 3 | 3 | 3 | 4 | 5 | 5 | 6 | 6 | 7 | 8 | 8 | 9 | 9 | 10 | 10 | 11 | 11 | 12 | 12 | 13 | 13 | 14 | 15 | 16 | 16 | 16 | 17 | 17 | 18 | 18 | 19 | 19 | 20 | 20 | 21 | 22 | 23 | 23 | 24 | 24 | 25 | 25 | 26 | 26 | 27 | 28 | 28 | 30 | 31 | 31 | 32 | 32 | 33 | 33 | 34 | 35 | 35 | 36 | 37 |
| Growth plan | $K | 39 | 13 | 13 | 14 | 17 | 17 | 18 | 18 | 19 | 19 | 20 | 20 | 65 | 39 | 40 | 41 | 45 | 46 | 47 | 49 | 50 | 51 | 53 | 54 | 106 | 81 | 82 | 85 | 90 | 92 | 95 | 97 | 100 | 102 | 105 | 108 | 168 | 144 | 147 | 151 | 158 | 162 | 167 | 171 | 175 | 180 | 185 | 190 | 262 | 239 | 245 | 251 | 261 | 268 | 275 | 282 | 290 | 297 | 305 | 313 |
| Enterprise plan | $K | 25 | 10 | 10 | 11 | 13 | 14 | 15 | 15 | 16 | 17 | 18 | 19 | 54 | 38 | 40 | 42 | 45 | 47 | 49 | 51 | 53 | 55 | 58 | 60 | 109 | 94 | 98 | 101 | 107 | 111 | 115 | 119 | 123 | 127 | 132 | 136 | 207 | 195 | 201 | 208 | 217 | 224 | 232 | 239 | 247 | 255 | 264 | 272 | 377 | 368 | 380 | 392 | 407 | 420 | 433 | 447 | 461 | 475 | 490 | 505 |
| Deferred revenue Cash billed but not yet recognized as revenue. A liability until you deliver the service. | $K | 58 | 73 | 87 | 100 | 117 | 133 | 149 | 164 | 178 | 192 | 206 | 219 | 303 | 341 | 377 | 413 | 451 | 488 | 524 | 559 | 593 | 626 | 659 | 692 | 812 | 883 | 952 | 1,019 | 1,089 | 1,157 | 1,223 | 1,288 | 1,353 | 1,416 | 1,479 | 1,541 | 1,713 | 1,834 | 1,951 | 2,066 | 2,183 | 2,298 | 2,412 | 2,523 | 2,634 | 2,744 | 2,853 | 2,963 | 3,215 | 3,413 | 3,606 | 3,795 | 3,987 | 4,175 | 4,362 | 4,547 | 4,731 | 4,915 | 5,098 | 5,282 |
| Starter plan | $K | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Growth plan | $K | 36 | 45 | 54 | 62 | 72 | 82 | 92 | 101 | 110 | 118 | 127 | 135 | 183 | 204 | 223 | 242 | 263 | 283 | 303 | 323 | 341 | 360 | 378 | 396 | 460 | 496 | 530 | 564 | 599 | 634 | 668 | 701 | 734 | 767 | 799 | 832 | 917 | 972 | 1,026 | 1,079 | 1,134 | 1,188 | 1,242 | 1,295 | 1,348 | 1,401 | 1,453 | 1,506 | 1,621 | 1,705 | 1,787 | 1,868 | 1,952 | 2,035 | 2,117 | 2,199 | 2,282 | 2,364 | 2,446 | 2,529 |
| Enterprise plan | $K | 22 | 28 | 33 | 38 | 45 | 51 | 57 | 63 | 68 | 74 | 79 | 84 | 120 | 137 | 154 | 170 | 188 | 204 | 221 | 236 | 252 | 267 | 281 | 296 | 351 | 387 | 422 | 455 | 490 | 523 | 555 | 587 | 618 | 649 | 679 | 709 | 797 | 862 | 926 | 987 | 1,049 | 1,110 | 1,170 | 1,228 | 1,286 | 1,343 | 1,400 | 1,457 | 1,594 | 1,708 | 1,819 | 1,927 | 2,035 | 2,141 | 2,245 | 2,348 | 2,450 | 2,551 | 2,652 | 2,753 |
Team
| Y1 2026 | Y2 2027 | Y3 2028 | Y4 2029 | Y5 2030 | ||
|---|---|---|---|---|---|---|
| Headcount Full-time team members at the end of the period. | # | 11 | 16 | 20 | 26 | 32 |
| Engineering & product | # | 5 | 7 | 8 | 10 | 11 |
| Engineering | # | 4 | 5 | 6 | 7 | 8 |
| Product & Design | # | 1 | 2 | 2 | 3 | 3 |
| Sales | # | 1 | 2 | 3 | 5 | 8 |
| Account Executive | # | 1 | 2 | 3 | 5 | 8 |
| Marketing | # | 1 | 2 | 2 | 3 | 3 |
| Marketing | # | 1 | 2 | 2 | 3 | 3 |
| Customer success | # | 1 | 2 | 3 | 4 | 5 |
| Customer Success | # | 1 | 2 | 3 | 4 | 5 |
| Operations | # | 2 | 2 | 2 | 2 | 2 |
| Founders / Exec | # | 2 | 2 | 2 | 2 | 2 |
| Finance & legal | # | 1 | 1 | 2 | 2 | 3 |
| Finance & Ops | # | 1 | 1 | 2 | 2 | 3 |
| Total payroll Salary, bonus and benefits combined. | $K | 1,740 | 2,460 | 3,104 | 4,111 | 5,126 |
| Salary | $K | 1,438 | 2,028 | 2,545 | 3,355 | 4,158 |
| Engineering & product | $K | 705 | 1,071 | 1,274 | 1,643 | 1,881 |
| Engineering | $K | 566 | 784 | 979 | 1,187 | 1,411 |
| Product & Design | $K | 139 | 286 | 295 | 456 | 470 |
| Sales | $K | 98 | 160 | 277 | 481 | 771 |
| Account Executive | $K | 98 | 160 | 277 | 481 | 771 |
| Marketing | $K | 108 | 223 | 229 | 355 | 365 |
| Marketing | $K | 108 | 223 | 229 | 355 | 365 |
| Customer success | $K | 74 | 108 | 164 | 257 | 376 |
| Customer Success | $K | 74 | 108 | 164 | 257 | 376 |
| Operations | $K | 340 | 350 | 361 | 371 | 383 |
| Founders / Exec | $K | 340 | 350 | 361 | 371 | 383 |
| Finance & legal | $K | 113 | 117 | 240 | 248 | 383 |
| Finance & Ops | $K | 113 | 117 | 240 | 248 | 383 |
| Bonus | $K | 15 | 27 | 50 | 85 | 137 |
| Sales | $K | 15 | 27 | 50 | 85 | 137 |
| Account Executive | $K | 15 | 27 | 50 | 85 | 137 |
| Benefits | $K | 288 | 406 | 509 | 671 | 832 |
| Engineering & product | $K | 141 | 214 | 255 | 329 | 376 |
| Engineering | $K | 113 | 157 | 196 | 237 | 282 |
| Product & Design | $K | 28 | 57 | 59 | 91 | 94 |
| Sales | $K | 20 | 32 | 55 | 96 | 154 |
| Account Executive | $K | 20 | 32 | 55 | 96 | 154 |
| Marketing | $K | 22 | 45 | 46 | 71 | 73 |
| Marketing | $K | 22 | 45 | 46 | 71 | 73 |
| Customer success | $K | 15 | 22 | 33 | 51 | 75 |
| Customer Success | $K | 15 | 22 | 33 | 51 | 75 |
| Operations | $K | 68 | 70 | 72 | 74 | 77 |
| Founders / Exec | $K | 68 | 70 | 72 | 74 | 77 |
| Finance & legal | $K | 23 | 23 | 48 | 50 | 77 |
| Finance & Ops | $K | 23 | 23 | 48 | 50 | 77 |
| Q1 Jan–Mar '26 | Q2 Apr–Jun '26 | Q3 Jul–Sep '26 | Q4 Oct–Dec '26 | Q5 Jan–Mar '27 | Q6 Apr–Jun '27 | Q7 Jul–Sep '27 | Q8 Oct–Dec '27 | Q9 Jan–Mar '28 | Q10 Apr–Jun '28 | Q11 Jul–Sep '28 | Q12 Oct–Dec '28 | Q13 Jan–Mar '29 | Q14 Apr–Jun '29 | Q15 Jul–Sep '29 | Q16 Oct–Dec '29 | Q17 Jan–Mar '30 | Q18 Apr–Jun '30 | Q19 Jul–Sep '30 | Q20 Oct–Dec '30 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Headcount Full-time team members at the end of the period. | # | 10 | 11 | 11 | 11 | 14 | 15 | 16 | 16 | 18 | 19 | 19 | 20 | 24 | 24 | 25 | 26 | 29 | 30 | 32 | 32 |
| Engineering & product | # | 4 | 5 | 5 | 5 | 7 | 7 | 7 | 7 | 8 | 8 | 8 | 8 | 10 | 10 | 10 | 10 | 11 | 11 | 11 | 11 |
| Engineering | # | 3 | 4 | 4 | 4 | 5 | 5 | 5 | 5 | 6 | 6 | 6 | 6 | 7 | 7 | 7 | 7 | 8 | 8 | 8 | 8 |
| Product & Design | # | 1 | 1 | 1 | 1 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 |
| Sales | # | 1 | 1 | 1 | 1 | 1 | 2 | 2 | 2 | 2 | 3 | 3 | 3 | 4 | 4 | 5 | 5 | 6 | 7 | 8 | 8 |
| Account Executive | # | 1 | 1 | 1 | 1 | 1 | 2 | 2 | 2 | 2 | 3 | 3 | 3 | 4 | 4 | 5 | 5 | 6 | 7 | 8 | 8 |
| Marketing | # | 1 | 1 | 1 | 1 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 |
| Marketing | # | 1 | 1 | 1 | 1 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 |
| Customer success | # | 1 | 1 | 1 | 1 | 1 | 1 | 2 | 2 | 2 | 2 | 2 | 3 | 3 | 3 | 3 | 4 | 4 | 4 | 5 | 5 |
| Customer Success | # | 1 | 1 | 1 | 1 | 1 | 1 | 2 | 2 | 2 | 2 | 2 | 3 | 3 | 3 | 3 | 4 | 4 | 4 | 5 | 5 |
| Operations | # | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 |
| Founders / Exec | # | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 |
| Finance & legal | # | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 3 | 3 | 3 | 3 |
| Finance & Ops | # | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 3 | 3 | 3 | 3 |
| Total payroll Salary, bonus and benefits combined. | $K | 397 | 448 | 448 | 448 | 586 | 596 | 633 | 644 | 751 | 772 | 786 | 795 | 1,002 | 1,008 | 1,040 | 1,061 | 1,228 | 1,257 | 1,308 | 1,333 |
| Salary | $K | 331 | 369 | 369 | 369 | 484 | 493 | 522 | 529 | 617 | 635 | 643 | 650 | 822 | 822 | 849 | 862 | 1,001 | 1,020 | 1,059 | 1,077 |
| Engineering & product | $K | 148 | 186 | 186 | 186 | 268 | 268 | 268 | 268 | 318 | 318 | 318 | 318 | 411 | 411 | 411 | 411 | 470 | 470 | 470 | 470 |
| Engineering | $K | 113 | 151 | 151 | 151 | 196 | 196 | 196 | 196 | 245 | 245 | 245 | 245 | 297 | 297 | 297 | 297 | 353 | 353 | 353 | 353 |
| Product & Design | $K | 35 | 35 | 35 | 35 | 72 | 72 | 72 | 72 | 74 | 74 | 74 | 74 | 114 | 114 | 114 | 114 | 117 | 117 | 117 | 117 |
| Sales | $K | 24 | 24 | 24 | 24 | 25 | 34 | 50 | 50 | 52 | 69 | 78 | 78 | 107 | 107 | 134 | 134 | 165 | 184 | 202 | 220 |
| Account Executive | $K | 24 | 24 | 24 | 24 | 25 | 34 | 50 | 50 | 52 | 69 | 78 | 78 | 107 | 107 | 134 | 134 | 165 | 184 | 202 | 220 |
| Marketing | $K | 27 | 27 | 27 | 27 | 56 | 56 | 56 | 56 | 57 | 57 | 57 | 57 | 89 | 89 | 89 | 89 | 91 | 91 | 91 | 91 |
| Marketing | $K | 27 | 27 | 27 | 27 | 56 | 56 | 56 | 56 | 57 | 57 | 57 | 57 | 89 | 89 | 89 | 89 | 91 | 91 | 91 | 91 |
| Customer success | $K | 19 | 19 | 19 | 19 | 19 | 19 | 32 | 38 | 39 | 39 | 39 | 46 | 61 | 61 | 61 | 74 | 83 | 83 | 104 | 104 |
| Customer Success | $K | 19 | 19 | 19 | 19 | 19 | 19 | 32 | 38 | 39 | 39 | 39 | 46 | 61 | 61 | 61 | 74 | 83 | 83 | 104 | 104 |
| Operations | $K | 85 | 85 | 85 | 85 | 88 | 88 | 88 | 88 | 90 | 90 | 90 | 90 | 93 | 93 | 93 | 93 | 96 | 96 | 96 | 96 |
| Founders / Exec | $K | 85 | 85 | 85 | 85 | 88 | 88 | 88 | 88 | 90 | 90 | 90 | 90 | 93 | 93 | 93 | 93 | 96 | 96 | 96 | 96 |
| Finance & legal | $K | 28 | 28 | 28 | 28 | 29 | 29 | 29 | 29 | 60 | 60 | 60 | 60 | 62 | 62 | 62 | 62 | 96 | 96 | 96 | 96 |
| Finance & Ops | $K | 28 | 28 | 28 | 28 | 29 | 29 | 29 | 29 | 60 | 60 | 60 | 60 | 62 | 62 | 62 | 62 | 96 | 96 | 96 | 96 |
| Bonus | $K | - | 5 | 5 | 5 | 5 | 5 | 7 | 10 | 10 | 10 | 14 | 16 | 16 | 21 | 21 | 27 | 27 | 33 | 37 | 40 |
| Sales | $K | - | 5 | 5 | 5 | 5 | 5 | 7 | 10 | 10 | 10 | 14 | 16 | 16 | 21 | 21 | 27 | 27 | 33 | 37 | 40 |
| Account Executive | $K | - | 5 | 5 | 5 | 5 | 5 | 7 | 10 | 10 | 10 | 14 | 16 | 16 | 21 | 21 | 27 | 27 | 33 | 37 | 40 |
| Benefits | $K | 66 | 74 | 74 | 74 | 97 | 99 | 104 | 106 | 123 | 127 | 129 | 130 | 164 | 164 | 170 | 172 | 200 | 204 | 212 | 215 |
| Engineering & product | $K | 30 | 37 | 37 | 37 | 54 | 54 | 54 | 54 | 64 | 64 | 64 | 64 | 82 | 82 | 82 | 82 | 94 | 94 | 94 | 94 |
| Engineering | $K | 23 | 30 | 30 | 30 | 39 | 39 | 39 | 39 | 49 | 49 | 49 | 49 | 59 | 59 | 59 | 59 | 71 | 71 | 71 | 71 |
| Product & Design | $K | 7 | 7 | 7 | 7 | 14 | 14 | 14 | 14 | 15 | 15 | 15 | 15 | 23 | 23 | 23 | 23 | 23 | 23 | 23 | 23 |
| Sales | $K | 5 | 5 | 5 | 5 | 5 | 7 | 10 | 10 | 10 | 14 | 16 | 16 | 21 | 21 | 27 | 27 | 33 | 37 | 40 | 44 |
| Account Executive | $K | 5 | 5 | 5 | 5 | 5 | 7 | 10 | 10 | 10 | 14 | 16 | 16 | 21 | 21 | 27 | 27 | 33 | 37 | 40 | 44 |
| Marketing | $K | 5 | 5 | 5 | 5 | 11 | 11 | 11 | 11 | 11 | 11 | 11 | 11 | 18 | 18 | 18 | 18 | 18 | 18 | 18 | 18 |
| Marketing | $K | 5 | 5 | 5 | 5 | 11 | 11 | 11 | 11 | 11 | 11 | 11 | 11 | 18 | 18 | 18 | 18 | 18 | 18 | 18 | 18 |
| Customer success | $K | 4 | 4 | 4 | 4 | 4 | 4 | 6 | 8 | 8 | 8 | 8 | 9 | 12 | 12 | 12 | 15 | 17 | 17 | 21 | 21 |
| Customer Success | $K | 4 | 4 | 4 | 4 | 4 | 4 | 6 | 8 | 8 | 8 | 8 | 9 | 12 | 12 | 12 | 15 | 17 | 17 | 21 | 21 |
| Operations | $K | 17 | 17 | 17 | 17 | 18 | 18 | 18 | 18 | 18 | 18 | 18 | 18 | 19 | 19 | 19 | 19 | 19 | 19 | 19 | 19 |
| Founders / Exec | $K | 17 | 17 | 17 | 17 | 18 | 18 | 18 | 18 | 18 | 18 | 18 | 18 | 19 | 19 | 19 | 19 | 19 | 19 | 19 | 19 |
| Finance & legal | $K | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 12 | 12 | 12 | 12 | 12 | 12 | 12 | 12 | 19 | 19 | 19 | 19 |
| Finance & Ops | $K | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 12 | 12 | 12 | 12 | 12 | 12 | 12 | 12 | 19 | 19 | 19 | 19 |
| M1 Jan '26 | M2 Feb '26 | M3 Mar '26 | M4 Apr '26 | M5 May '26 | M6 Jun '26 | M7 Jul '26 | M8 Aug '26 | M9 Sep '26 | M10 Oct '26 | M11 Nov '26 | M12 Dec '26 | M13 Jan '27 | M14 Feb '27 | M15 Mar '27 | M16 Apr '27 | M17 May '27 | M18 Jun '27 | M19 Jul '27 | M20 Aug '27 | M21 Sep '27 | M22 Oct '27 | M23 Nov '27 | M24 Dec '27 | M25 Jan '28 | M26 Feb '28 | M27 Mar '28 | M28 Apr '28 | M29 May '28 | M30 Jun '28 | M31 Jul '28 | M32 Aug '28 | M33 Sep '28 | M34 Oct '28 | M35 Nov '28 | M36 Dec '28 | M37 Jan '29 | M38 Feb '29 | M39 Mar '29 | M40 Apr '29 | M41 May '29 | M42 Jun '29 | M43 Jul '29 | M44 Aug '29 | M45 Sep '29 | M46 Oct '29 | M47 Nov '29 | M48 Dec '29 | M49 Jan '30 | M50 Feb '30 | M51 Mar '30 | M52 Apr '30 | M53 May '30 | M54 Jun '30 | M55 Jul '30 | M56 Aug '30 | M57 Sep '30 | M58 Oct '30 | M59 Nov '30 | M60 Dec '30 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Headcount Full-time team members at the end of the period. | # | 10 | 10 | 10 | 11 | 11 | 11 | 11 | 11 | 11 | 11 | 11 | 11 | 14 | 14 | 14 | 14 | 14 | 15 | 15 | 16 | 16 | 16 | 16 | 16 | 18 | 18 | 18 | 18 | 19 | 19 | 19 | 19 | 19 | 19 | 19 | 20 | 24 | 24 | 24 | 24 | 24 | 24 | 25 | 25 | 25 | 25 | 26 | 26 | 29 | 29 | 29 | 29 | 30 | 30 | 31 | 31 | 32 | 32 | 32 | 32 |
| Engineering & product | # | 4 | 4 | 4 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 7 | 7 | 7 | 7 | 7 | 7 | 7 | 7 | 7 | 7 | 7 | 7 | 8 | 8 | 8 | 8 | 8 | 8 | 8 | 8 | 8 | 8 | 8 | 8 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 11 | 11 | 11 | 11 | 11 | 11 | 11 | 11 | 11 | 11 | 11 | 11 |
| Engineering | # | 3 | 3 | 3 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 7 | 7 | 7 | 7 | 7 | 7 | 7 | 7 | 7 | 7 | 7 | 7 | 8 | 8 | 8 | 8 | 8 | 8 | 8 | 8 | 8 | 8 | 8 | 8 |
| Product & Design | # | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 |
| Sales | # | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 4 | 4 | 4 | 4 | 4 | 4 | 5 | 5 | 5 | 5 | 5 | 5 | 6 | 6 | 6 | 6 | 7 | 7 | 7 | 7 | 8 | 8 | 8 | 8 |
| Account Executive | # | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 4 | 4 | 4 | 4 | 4 | 4 | 5 | 5 | 5 | 5 | 5 | 5 | 6 | 6 | 6 | 6 | 7 | 7 | 7 | 7 | 8 | 8 | 8 | 8 |
| Marketing | # | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 |
| Marketing | # | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 |
| Customer success | # | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 5 | 5 | 5 | 5 | 5 | 5 |
| Customer Success | # | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 5 | 5 | 5 | 5 | 5 | 5 |
| Operations | # | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 |
| Founders / Exec | # | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 |
| Finance & legal | # | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 |
| Finance & Ops | # | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 |
| Total payroll Salary, bonus and benefits combined. | $K | 132 | 132 | 132 | 152 | 148 | 148 | 152 | 148 | 148 | 152 | 148 | 148 | 199 | 194 | 194 | 199 | 194 | 204 | 211 | 211 | 211 | 222 | 211 | 211 | 257 | 247 | 247 | 257 | 257 | 257 | 271 | 257 | 257 | 273 | 257 | 265 | 344 | 329 | 329 | 350 | 329 | 329 | 361 | 339 | 339 | 366 | 348 | 348 | 427 | 401 | 401 | 434 | 412 | 412 | 457 | 420 | 431 | 471 | 431 | 431 |
| Salary | $K | 110 | 110 | 110 | 123 | 123 | 123 | 123 | 123 | 123 | 123 | 123 | 123 | 161 | 161 | 161 | 161 | 161 | 170 | 170 | 176 | 176 | 176 | 176 | 176 | 206 | 206 | 206 | 206 | 214 | 214 | 214 | 214 | 214 | 214 | 214 | 221 | 274 | 274 | 274 | 274 | 274 | 274 | 283 | 283 | 283 | 283 | 290 | 290 | 334 | 334 | 334 | 334 | 343 | 343 | 350 | 350 | 359 | 359 | 359 | 359 |
| Engineering & product | $K | 49 | 49 | 49 | 62 | 62 | 62 | 62 | 62 | 62 | 62 | 62 | 62 | 89 | 89 | 89 | 89 | 89 | 89 | 89 | 89 | 89 | 89 | 89 | 89 | 106 | 106 | 106 | 106 | 106 | 106 | 106 | 106 | 106 | 106 | 106 | 106 | 137 | 137 | 137 | 137 | 137 | 137 | 137 | 137 | 137 | 137 | 137 | 137 | 157 | 157 | 157 | 157 | 157 | 157 | 157 | 157 | 157 | 157 | 157 | 157 |
| Engineering | $K | 38 | 38 | 38 | 50 | 50 | 50 | 50 | 50 | 50 | 50 | 50 | 50 | 65 | 65 | 65 | 65 | 65 | 65 | 65 | 65 | 65 | 65 | 65 | 65 | 82 | 82 | 82 | 82 | 82 | 82 | 82 | 82 | 82 | 82 | 82 | 82 | 99 | 99 | 99 | 99 | 99 | 99 | 99 | 99 | 99 | 99 | 99 | 99 | 118 | 118 | 118 | 118 | 118 | 118 | 118 | 118 | 118 | 118 | 118 | 118 |
| Product & Design | $K | 12 | 12 | 12 | 12 | 12 | 12 | 12 | 12 | 12 | 12 | 12 | 12 | 24 | 24 | 24 | 24 | 24 | 24 | 24 | 24 | 24 | 24 | 24 | 24 | 25 | 25 | 25 | 25 | 25 | 25 | 25 | 25 | 25 | 25 | 25 | 25 | 38 | 38 | 38 | 38 | 38 | 38 | 38 | 38 | 38 | 38 | 38 | 38 | 39 | 39 | 39 | 39 | 39 | 39 | 39 | 39 | 39 | 39 | 39 | 39 |
| Sales | $K | 8 | 8 | 8 | 8 | 8 | 8 | 8 | 8 | 8 | 8 | 8 | 8 | 8 | 8 | 8 | 8 | 8 | 17 | 17 | 17 | 17 | 17 | 17 | 17 | 17 | 17 | 17 | 17 | 26 | 26 | 26 | 26 | 26 | 26 | 26 | 26 | 36 | 36 | 36 | 36 | 36 | 36 | 45 | 45 | 45 | 45 | 45 | 45 | 55 | 55 | 55 | 55 | 64 | 64 | 64 | 64 | 73 | 73 | 73 | 73 |
| Account Executive | $K | 8 | 8 | 8 | 8 | 8 | 8 | 8 | 8 | 8 | 8 | 8 | 8 | 8 | 8 | 8 | 8 | 8 | 17 | 17 | 17 | 17 | 17 | 17 | 17 | 17 | 17 | 17 | 17 | 26 | 26 | 26 | 26 | 26 | 26 | 26 | 26 | 36 | 36 | 36 | 36 | 36 | 36 | 45 | 45 | 45 | 45 | 45 | 45 | 55 | 55 | 55 | 55 | 64 | 64 | 64 | 64 | 73 | 73 | 73 | 73 |
| Marketing | $K | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 19 | 19 | 19 | 19 | 19 | 19 | 19 | 19 | 19 | 19 | 19 | 19 | 19 | 19 | 19 | 19 | 19 | 19 | 19 | 19 | 19 | 19 | 19 | 19 | 30 | 30 | 30 | 30 | 30 | 30 | 30 | 30 | 30 | 30 | 30 | 30 | 30 | 30 | 30 | 30 | 30 | 30 | 30 | 30 | 30 | 30 | 30 | 30 |
| Marketing | $K | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 19 | 19 | 19 | 19 | 19 | 19 | 19 | 19 | 19 | 19 | 19 | 19 | 19 | 19 | 19 | 19 | 19 | 19 | 19 | 19 | 19 | 19 | 19 | 19 | 30 | 30 | 30 | 30 | 30 | 30 | 30 | 30 | 30 | 30 | 30 | 30 | 30 | 30 | 30 | 30 | 30 | 30 | 30 | 30 | 30 | 30 | 30 | 30 |
| Customer success | $K | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 13 | 13 | 13 | 13 | 13 | 13 | 13 | 13 | 13 | 13 | 13 | 13 | 13 | 13 | 13 | 13 | 20 | 20 | 20 | 20 | 20 | 20 | 20 | 20 | 20 | 20 | 20 | 27 | 27 | 28 | 28 | 28 | 28 | 28 | 28 | 35 | 35 | 35 | 35 | 35 | 35 |
| Customer Success | $K | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 13 | 13 | 13 | 13 | 13 | 13 | 13 | 13 | 13 | 13 | 13 | 13 | 13 | 13 | 13 | 13 | 20 | 20 | 20 | 20 | 20 | 20 | 20 | 20 | 20 | 20 | 20 | 27 | 27 | 28 | 28 | 28 | 28 | 28 | 28 | 35 | 35 | 35 | 35 | 35 | 35 |
| Operations | $K | 28 | 28 | 28 | 28 | 28 | 28 | 28 | 28 | 28 | 28 | 28 | 28 | 29 | 29 | 29 | 29 | 29 | 29 | 29 | 29 | 29 | 29 | 29 | 29 | 30 | 30 | 30 | 30 | 30 | 30 | 30 | 30 | 30 | 30 | 30 | 30 | 31 | 31 | 31 | 31 | 31 | 31 | 31 | 31 | 31 | 31 | 31 | 31 | 32 | 32 | 32 | 32 | 32 | 32 | 32 | 32 | 32 | 32 | 32 | 32 |
| Founders / Exec | $K | 28 | 28 | 28 | 28 | 28 | 28 | 28 | 28 | 28 | 28 | 28 | 28 | 29 | 29 | 29 | 29 | 29 | 29 | 29 | 29 | 29 | 29 | 29 | 29 | 30 | 30 | 30 | 30 | 30 | 30 | 30 | 30 | 30 | 30 | 30 | 30 | 31 | 31 | 31 | 31 | 31 | 31 | 31 | 31 | 31 | 31 | 31 | 31 | 32 | 32 | 32 | 32 | 32 | 32 | 32 | 32 | 32 | 32 | 32 | 32 |
| Finance & legal | $K | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 20 | 20 | 20 | 20 | 20 | 20 | 20 | 20 | 20 | 20 | 20 | 20 | 21 | 21 | 21 | 21 | 21 | 21 | 21 | 21 | 21 | 21 | 21 | 21 | 32 | 32 | 32 | 32 | 32 | 32 | 32 | 32 | 32 | 32 | 32 | 32 |
| Finance & Ops | $K | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 20 | 20 | 20 | 20 | 20 | 20 | 20 | 20 | 20 | 20 | 20 | 20 | 21 | 21 | 21 | 21 | 21 | 21 | 21 | 21 | 21 | 21 | 21 | 21 | 32 | 32 | 32 | 32 | 32 | 32 | 32 | 32 | 32 | 32 | 32 | 32 |
| Bonus | $K | - | - | - | 5 | - | - | 5 | - | - | 5 | - | - | 5 | - | - | 5 | - | - | 7 | - | - | 10 | - | - | 10 | - | - | 10 | - | - | 14 | - | - | 16 | - | - | 16 | - | - | 21 | - | - | 21 | - | - | 27 | - | - | 27 | - | - | 33 | - | - | 37 | - | - | 40 | - | - |
| Sales | $K | - | - | - | 5 | - | - | 5 | - | - | 5 | - | - | 5 | - | - | 5 | - | - | 7 | - | - | 10 | - | - | 10 | - | - | 10 | - | - | 14 | - | - | 16 | - | - | 16 | - | - | 21 | - | - | 21 | - | - | 27 | - | - | 27 | - | - | 33 | - | - | 37 | - | - | 40 | - | - |
| Account Executive | $K | - | - | - | 5 | - | - | 5 | - | - | 5 | - | - | 5 | - | - | 5 | - | - | 7 | - | - | 10 | - | - | 10 | - | - | 10 | - | - | 14 | - | - | 16 | - | - | 16 | - | - | 21 | - | - | 21 | - | - | 27 | - | - | 27 | - | - | 33 | - | - | 37 | - | - | 40 | - | - |
| Benefits | $K | 22 | 22 | 22 | 25 | 25 | 25 | 25 | 25 | 25 | 25 | 25 | 25 | 32 | 32 | 32 | 32 | 32 | 34 | 34 | 35 | 35 | 35 | 35 | 35 | 41 | 41 | 41 | 41 | 43 | 43 | 43 | 43 | 43 | 43 | 43 | 44 | 55 | 55 | 55 | 55 | 55 | 55 | 57 | 57 | 57 | 57 | 58 | 58 | 67 | 67 | 67 | 67 | 69 | 69 | 70 | 70 | 72 | 72 | 72 | 72 |
| Engineering & product | $K | 10 | 10 | 10 | 12 | 12 | 12 | 12 | 12 | 12 | 12 | 12 | 12 | 18 | 18 | 18 | 18 | 18 | 18 | 18 | 18 | 18 | 18 | 18 | 18 | 21 | 21 | 21 | 21 | 21 | 21 | 21 | 21 | 21 | 21 | 21 | 21 | 27 | 27 | 27 | 27 | 27 | 27 | 27 | 27 | 27 | 27 | 27 | 27 | 31 | 31 | 31 | 31 | 31 | 31 | 31 | 31 | 31 | 31 | 31 | 31 |
| Engineering | $K | 8 | 8 | 8 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 13 | 13 | 13 | 13 | 13 | 13 | 13 | 13 | 13 | 13 | 13 | 13 | 16 | 16 | 16 | 16 | 16 | 16 | 16 | 16 | 16 | 16 | 16 | 16 | 20 | 20 | 20 | 20 | 20 | 20 | 20 | 20 | 20 | 20 | 20 | 20 | 24 | 24 | 24 | 24 | 24 | 24 | 24 | 24 | 24 | 24 | 24 | 24 |
| Product & Design | $K | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 8 | 8 | 8 | 8 | 8 | 8 | 8 | 8 | 8 | 8 | 8 | 8 | 8 | 8 | 8 | 8 | 8 | 8 | 8 | 8 | 8 | 8 | 8 | 8 |
| Sales | $K | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 7 | 7 | 7 | 7 | 7 | 7 | 9 | 9 | 9 | 9 | 9 | 9 | 11 | 11 | 11 | 11 | 13 | 13 | 13 | 13 | 15 | 15 | 15 | 15 |
| Account Executive | $K | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 7 | 7 | 7 | 7 | 7 | 7 | 9 | 9 | 9 | 9 | 9 | 9 | 11 | 11 | 11 | 11 | 13 | 13 | 13 | 13 | 15 | 15 | 15 | 15 |
| Marketing | $K | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 |
| Marketing | $K | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 |
| Customer success | $K | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 5 | 5 | 6 | 6 | 6 | 6 | 6 | 6 | 7 | 7 | 7 | 7 | 7 | 7 |
| Customer Success | $K | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 5 | 5 | 6 | 6 | 6 | 6 | 6 | 6 | 7 | 7 | 7 | 7 | 7 | 7 |
| Operations | $K | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 |
| Founders / Exec | $K | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 |
| Finance & legal | $K | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 |
| Finance & Ops | $K | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 |
Costs
Costs
| Y1 2026 | Y2 2027 | Y3 2028 | Y4 2029 | Y5 2030 | ||
|---|---|---|---|---|---|---|
| Cost of revenue Costs that scale directly with serving customers. | $K | 114 | 214 | 385 | 672 | 1,103 |
| Payroll attributed to cost of revenue | $K | 89 | 130 | 197 | 308 | 451 |
| Affiliate revenue share | $K | - | - | - | - | - |
| Hosting & infrastructure | $K | 18 | 59 | 132 | 255 | 457 |
| Payment processing | $K | 8 | 25 | 57 | 109 | 196 |
| Operating expenses Operating expenses: payroll, marketing and everything that keeps the company running. | $K | 2,243 | 3,110 | 3,953 | 5,225 | 6,635 |
| Payroll attributed to operating expenses | $K | 1,651 | 2,330 | 2,907 | 3,803 | 4,675 |
| Marketing | $K | 369 | 535 | 776 | 1,125 | 1,631 |
| Affiliate fees | $K | - | - | - | - | - |
| Software & tools | $K | 57 | 64 | 72 | 81 | 90 |
| Office & facilities | $K | 66 | 69 | 73 | 76 | 80 |
| G&A and legal | $K | 60 | 65 | 70 | 76 | 82 |
| Marketing tools | $K | 39 | 47 | 55 | 65 | 76 |
| CAPEX Purchases you capitalize instead of expensing, like equipment and capitalized development. | $K | 30 | 33 | 36 | 40 | 44 |
| Computers & equipment | $K | 30 | 33 | 36 | 40 | 44 |
| Total costs Cost of revenue plus operating expenses for the period. | $K | 2,357 | 3,324 | 4,338 | 5,897 | 7,738 |
| Q1 Jan–Mar '26 | Q2 Apr–Jun '26 | Q3 Jul–Sep '26 | Q4 Oct–Dec '26 | Q5 Jan–Mar '27 | Q6 Apr–Jun '27 | Q7 Jul–Sep '27 | Q8 Oct–Dec '27 | Q9 Jan–Mar '28 | Q10 Apr–Jun '28 | Q11 Jul–Sep '28 | Q12 Oct–Dec '28 | Q13 Jan–Mar '29 | Q14 Apr–Jun '29 | Q15 Jul–Sep '29 | Q16 Oct–Dec '29 | Q17 Jan–Mar '30 | Q18 Apr–Jun '30 | Q19 Jul–Sep '30 | Q20 Oct–Dec '30 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cost of revenue Costs that scale directly with serving customers. | $K | 25 | 27 | 30 | 32 | 37 | 42 | 61 | 73 | 83 | 91 | 98 | 113 | 145 | 158 | 170 | 199 | 232 | 253 | 299 | 320 |
| Payroll attributed to cost of revenue | $K | 22 | 22 | 22 | 22 | 23 | 23 | 38 | 46 | 47 | 47 | 47 | 55 | 73 | 73 | 73 | 89 | 100 | 100 | 125 | 125 |
| Affiliate revenue share | $K | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Hosting & infrastructure | $K | 2 | 4 | 5 | 7 | 10 | 13 | 16 | 19 | 25 | 30 | 36 | 41 | 50 | 59 | 68 | 77 | 92 | 107 | 121 | 136 |
| Payment processing | $K | 1 | 2 | 2 | 3 | 4 | 6 | 7 | 8 | 11 | 13 | 15 | 18 | 22 | 25 | 29 | 33 | 40 | 46 | 52 | 58 |
| Operating expenses Operating expenses: payroll, marketing and everything that keeps the company running. | $K | 510 | 568 | 578 | 588 | 739 | 761 | 796 | 814 | 937 | 976 | 1,009 | 1,031 | 1,245 | 1,275 | 1,335 | 1,370 | 1,561 | 1,625 | 1,690 | 1,759 |
| Payroll attributed to operating expenses | $K | 375 | 425 | 425 | 425 | 563 | 573 | 595 | 599 | 704 | 725 | 739 | 740 | 929 | 935 | 967 | 972 | 1,128 | 1,157 | 1,182 | 1,208 |
| Marketing | $K | 80 | 88 | 96 | 105 | 116 | 127 | 139 | 153 | 168 | 184 | 202 | 222 | 243 | 267 | 293 | 322 | 353 | 387 | 425 | 466 |
| Affiliate fees | $K | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Software & tools | $K | 14 | 14 | 15 | 15 | 15 | 16 | 16 | 17 | 17 | 18 | 18 | 19 | 19 | 20 | 20 | 21 | 22 | 22 | 23 | 24 |
| Office & facilities | $K | 17 | 17 | 17 | 17 | 17 | 17 | 17 | 17 | 18 | 18 | 18 | 18 | 19 | 19 | 19 | 19 | 20 | 20 | 20 | 20 |
| G&A and legal | $K | 15 | 15 | 15 | 15 | 16 | 16 | 16 | 16 | 17 | 17 | 17 | 17 | 19 | 19 | 19 | 19 | 20 | 20 | 20 | 20 |
| Marketing tools | $K | 9 | 10 | 10 | 10 | 11 | 11 | 12 | 12 | 13 | 13 | 14 | 15 | 15 | 16 | 17 | 17 | 18 | 19 | 19 | 20 |
| CAPEX Purchases you capitalize instead of expensing, like equipment and capitalized development. | $K | 8 | 8 | 8 | 8 | 8 | 8 | 8 | 8 | 9 | 9 | 9 | 9 | 10 | 10 | 10 | 10 | 11 | 11 | 11 | 11 |
| Computers & equipment | $K | 8 | 8 | 8 | 8 | 8 | 8 | 8 | 8 | 9 | 9 | 9 | 9 | 10 | 10 | 10 | 10 | 11 | 11 | 11 | 11 |
| Total costs Cost of revenue plus operating expenses for the period. | $K | 535 | 596 | 607 | 619 | 776 | 803 | 858 | 887 | 1,020 | 1,066 | 1,107 | 1,145 | 1,390 | 1,433 | 1,505 | 1,569 | 1,793 | 1,878 | 1,989 | 2,078 |
| M1 Jan '26 | M2 Feb '26 | M3 Mar '26 | M4 Apr '26 | M5 May '26 | M6 Jun '26 | M7 Jul '26 | M8 Aug '26 | M9 Sep '26 | M10 Oct '26 | M11 Nov '26 | M12 Dec '26 | M13 Jan '27 | M14 Feb '27 | M15 Mar '27 | M16 Apr '27 | M17 May '27 | M18 Jun '27 | M19 Jul '27 | M20 Aug '27 | M21 Sep '27 | M22 Oct '27 | M23 Nov '27 | M24 Dec '27 | M25 Jan '28 | M26 Feb '28 | M27 Mar '28 | M28 Apr '28 | M29 May '28 | M30 Jun '28 | M31 Jul '28 | M32 Aug '28 | M33 Sep '28 | M34 Oct '28 | M35 Nov '28 | M36 Dec '28 | M37 Jan '29 | M38 Feb '29 | M39 Mar '29 | M40 Apr '29 | M41 May '29 | M42 Jun '29 | M43 Jul '29 | M44 Aug '29 | M45 Sep '29 | M46 Oct '29 | M47 Nov '29 | M48 Dec '29 | M49 Jan '30 | M50 Feb '30 | M51 Mar '30 | M52 Apr '30 | M53 May '30 | M54 Jun '30 | M55 Jul '30 | M56 Aug '30 | M57 Sep '30 | M58 Oct '30 | M59 Nov '30 | M60 Dec '30 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cost of revenue Costs that scale directly with serving customers. | $K | 8 | 8 | 9 | 9 | 9 | 9 | 10 | 10 | 10 | 10 | 11 | 11 | 12 | 13 | 13 | 13 | 14 | 14 | 15 | 23 | 23 | 24 | 24 | 25 | 27 | 28 | 29 | 29 | 30 | 31 | 32 | 33 | 34 | 34 | 35 | 44 | 47 | 48 | 50 | 51 | 53 | 54 | 55 | 57 | 58 | 60 | 69 | 71 | 75 | 77 | 80 | 82 | 84 | 87 | 97 | 100 | 102 | 104 | 107 | 109 |
| Payroll attributed to cost of revenue | $K | 7 | 7 | 7 | 7 | 7 | 7 | 7 | 7 | 7 | 7 | 7 | 7 | 8 | 8 | 8 | 8 | 8 | 8 | 8 | 15 | 15 | 15 | 15 | 15 | 16 | 16 | 16 | 16 | 16 | 16 | 16 | 16 | 16 | 16 | 16 | 24 | 24 | 24 | 24 | 24 | 24 | 24 | 24 | 24 | 24 | 24 | 32 | 32 | 33 | 33 | 33 | 33 | 33 | 33 | 42 | 42 | 42 | 42 | 42 | 42 |
| Affiliate revenue share | $K | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Hosting & infrastructure | $K | 1 | 1 | 1 | 1 | 1 | 1 | 2 | 2 | 2 | 2 | 2 | 2 | 3 | 3 | 4 | 4 | 4 | 5 | 5 | 5 | 6 | 6 | 6 | 7 | 8 | 8 | 9 | 10 | 10 | 11 | 11 | 12 | 12 | 13 | 14 | 14 | 16 | 17 | 18 | 19 | 20 | 21 | 22 | 23 | 24 | 25 | 26 | 27 | 29 | 31 | 32 | 34 | 36 | 37 | 39 | 40 | 42 | 44 | 45 | 47 |
| Payment processing | $K | 0 | 0 | 0 | 0 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 3 | 3 | 3 | 3 | 4 | 4 | 4 | 4 | 5 | 5 | 5 | 5 | 6 | 6 | 6 | 7 | 7 | 8 | 8 | 8 | 9 | 9 | 10 | 10 | 11 | 11 | 11 | 12 | 13 | 14 | 15 | 15 | 16 | 17 | 17 | 18 | 19 | 19 | 20 |
| Operating expenses Operating expenses: payroll, marketing and everything that keeps the company running. | $K | 169 | 170 | 171 | 192 | 188 | 189 | 195 | 191 | 192 | 198 | 194 | 195 | 248 | 245 | 246 | 252 | 249 | 260 | 268 | 263 | 265 | 276 | 268 | 270 | 317 | 309 | 311 | 323 | 325 | 327 | 343 | 332 | 334 | 352 | 338 | 341 | 423 | 410 | 412 | 437 | 418 | 421 | 456 | 438 | 441 | 471 | 448 | 451 | 534 | 511 | 515 | 552 | 534 | 539 | 580 | 547 | 563 | 608 | 573 | 578 |
| Payroll attributed to operating expenses | $K | 125 | 125 | 125 | 145 | 140 | 140 | 145 | 140 | 140 | 145 | 140 | 140 | 191 | 186 | 186 | 191 | 186 | 196 | 203 | 196 | 196 | 206 | 196 | 196 | 241 | 231 | 231 | 242 | 242 | 242 | 255 | 242 | 242 | 257 | 242 | 242 | 320 | 304 | 304 | 326 | 304 | 304 | 337 | 315 | 315 | 342 | 315 | 315 | 394 | 367 | 367 | 400 | 378 | 378 | 415 | 378 | 389 | 430 | 389 | 389 |
| Marketing | $K | 26 | 27 | 27 | 28 | 29 | 30 | 31 | 32 | 33 | 34 | 35 | 36 | 37 | 39 | 40 | 41 | 42 | 44 | 45 | 46 | 48 | 49 | 51 | 53 | 54 | 56 | 58 | 59 | 61 | 63 | 65 | 67 | 69 | 72 | 74 | 76 | 79 | 81 | 84 | 86 | 89 | 92 | 95 | 98 | 101 | 104 | 107 | 111 | 114 | 118 | 121 | 125 | 129 | 133 | 137 | 142 | 146 | 151 | 155 | 160 |
| Affiliate fees | $K | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Software & tools | $K | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 7 | 7 | 7 | 7 | 7 | 7 | 7 | 7 | 7 | 7 | 7 | 7 | 7 | 7 | 7 | 7 | 8 | 8 | 8 | 8 | 8 | 8 |
| Office & facilities | $K | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 7 | 7 | 7 | 7 | 7 | 7 | 7 | 7 | 7 | 7 | 7 | 7 |
| G&A and legal | $K | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 7 | 7 | 7 | 7 | 7 | 7 | 7 | 7 | 7 | 7 | 7 | 7 |
| Marketing tools | $K | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 6 | 7 | 7 | 7 | 7 |
| CAPEX Purchases you capitalize instead of expensing, like equipment and capitalized development. | $K | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 |
| Computers & equipment | $K | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 |
| Total costs Cost of revenue plus operating expenses for the period. | $K | 177 | 178 | 179 | 201 | 197 | 198 | 204 | 201 | 202 | 208 | 205 | 206 | 260 | 257 | 259 | 266 | 263 | 275 | 283 | 286 | 288 | 300 | 292 | 295 | 344 | 337 | 339 | 353 | 355 | 358 | 375 | 364 | 367 | 386 | 374 | 385 | 470 | 458 | 462 | 488 | 471 | 475 | 511 | 495 | 499 | 531 | 517 | 522 | 609 | 589 | 595 | 634 | 619 | 625 | 677 | 647 | 665 | 712 | 679 | 687 |
CAPEX
| Y1 2026 | Y2 2027 | Y3 2028 | Y4 2029 | Y5 2030 | ||
|---|---|---|---|---|---|---|
| Carrying amount, beginning of period Carrying amount of capitalized assets at the start of the period. | $K | 0 | 25 | 42 | 50 | 55 |
| Property, plant & equipment | $K | 0 | 25 | 42 | 50 | 55 |
| Computers & equipment | $K | 0 | 25 | 42 | 50 | 55 |
| Intangible assets | $K | - | - | - | - | - |
| Additions Capital expenditure capitalized in the period: property, plant and equipment, intangible assets and capitalized development payroll. | $K | 30 | 33 | 36 | 40 | 44 |
| Property, plant & equipment | $K | 30 | 33 | 36 | 40 | 44 |
| Computers & equipment | $K | 30 | 33 | 36 | 40 | 44 |
| Intangible assets | $K | - | - | - | - | - |
| Depreciation & amortization The period's depreciation (PP&E) and amortization (intangibles), deducted from the carrying amount. | $K | 5 | 16 | 28 | 35 | 38 |
| Property, plant & equipment | $K | 5 | 16 | 28 | 35 | 38 |
| Computers & equipment | $K | 5 | 16 | 28 | 35 | 38 |
| Intangible assets | $K | - | - | - | - | - |
| Carrying amount, end of period Carrying amount at period end: opening balance plus additions, less depreciation and amortization. | $K | 25 | 42 | 50 | 55 | 61 |
| Property, plant & equipment | $K | 25 | 42 | 50 | 55 | 61 |
| Computers & equipment | $K | 25 | 42 | 50 | 55 | 61 |
| Intangible assets | $K | - | - | - | - | - |
| Q1 Jan–Mar '26 | Q2 Apr–Jun '26 | Q3 Jul–Sep '26 | Q4 Oct–Dec '26 | Q5 Jan–Mar '27 | Q6 Apr–Jun '27 | Q7 Jul–Sep '27 | Q8 Oct–Dec '27 | Q9 Jan–Mar '28 | Q10 Apr–Jun '28 | Q11 Jul–Sep '28 | Q12 Oct–Dec '28 | Q13 Jan–Mar '29 | Q14 Apr–Jun '29 | Q15 Jul–Sep '29 | Q16 Oct–Dec '29 | Q17 Jan–Mar '30 | Q18 Apr–Jun '30 | Q19 Jul–Sep '30 | Q20 Oct–Dec '30 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Carrying amount, beginning of period Carrying amount of capitalized assets at the start of the period. | $K | 0 | 7 | 14 | 19 | 25 | 30 | 34 | 38 | 42 | 45 | 48 | 49 | 50 | 52 | 53 | 54 | 55 | 57 | 59 | 60 |
| Property, plant & equipment | $K | 0 | 7 | 14 | 19 | 25 | 30 | 34 | 38 | 42 | 45 | 48 | 49 | 50 | 52 | 53 | 54 | 55 | 57 | 59 | 60 |
| Computers & equipment | $K | 0 | 7 | 14 | 19 | 25 | 30 | 34 | 38 | 42 | 45 | 48 | 49 | 50 | 52 | 53 | 54 | 55 | 57 | 59 | 60 |
| Intangible assets | $K | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Additions Capital expenditure capitalized in the period: property, plant and equipment, intangible assets and capitalized development payroll. | $K | 8 | 8 | 8 | 8 | 8 | 8 | 8 | 8 | 9 | 9 | 9 | 9 | 10 | 10 | 10 | 10 | 11 | 11 | 11 | 11 |
| Property, plant & equipment | $K | 8 | 8 | 8 | 8 | 8 | 8 | 8 | 8 | 9 | 9 | 9 | 9 | 10 | 10 | 10 | 10 | 11 | 11 | 11 | 11 |
| Computers & equipment | $K | 8 | 8 | 8 | 8 | 8 | 8 | 8 | 8 | 9 | 9 | 9 | 9 | 10 | 10 | 10 | 10 | 11 | 11 | 11 | 11 |
| Intangible assets | $K | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Depreciation & amortization The period's depreciation (PP&E) and amortization (intangibles), deducted from the carrying amount. | $K | 0 | 1 | 2 | 2 | 3 | 4 | 4 | 5 | 6 | 7 | 7 | 8 | 8 | 9 | 9 | 9 | 9 | 9 | 10 | 10 |
| Property, plant & equipment | $K | 0 | 1 | 2 | 2 | 3 | 4 | 4 | 5 | 6 | 7 | 7 | 8 | 8 | 9 | 9 | 9 | 9 | 9 | 10 | 10 |
| Computers & equipment | $K | 0 | 1 | 2 | 2 | 3 | 4 | 4 | 5 | 6 | 7 | 7 | 8 | 8 | 9 | 9 | 9 | 9 | 9 | 10 | 10 |
| Intangible assets | $K | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Carrying amount, end of period Carrying amount at period end: opening balance plus additions, less depreciation and amortization. | $K | 7 | 14 | 19 | 25 | 30 | 34 | 38 | 42 | 45 | 48 | 49 | 50 | 52 | 53 | 54 | 55 | 57 | 59 | 60 | 61 |
| Property, plant & equipment | $K | 7 | 14 | 19 | 25 | 30 | 34 | 38 | 42 | 45 | 48 | 49 | 50 | 52 | 53 | 54 | 55 | 57 | 59 | 60 | 61 |
| Computers & equipment | $K | 7 | 14 | 19 | 25 | 30 | 34 | 38 | 42 | 45 | 48 | 49 | 50 | 52 | 53 | 54 | 55 | 57 | 59 | 60 | 61 |
| Intangible assets | $K | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| M1 Jan '26 | M2 Feb '26 | M3 Mar '26 | M4 Apr '26 | M5 May '26 | M6 Jun '26 | M7 Jul '26 | M8 Aug '26 | M9 Sep '26 | M10 Oct '26 | M11 Nov '26 | M12 Dec '26 | M13 Jan '27 | M14 Feb '27 | M15 Mar '27 | M16 Apr '27 | M17 May '27 | M18 Jun '27 | M19 Jul '27 | M20 Aug '27 | M21 Sep '27 | M22 Oct '27 | M23 Nov '27 | M24 Dec '27 | M25 Jan '28 | M26 Feb '28 | M27 Mar '28 | M28 Apr '28 | M29 May '28 | M30 Jun '28 | M31 Jul '28 | M32 Aug '28 | M33 Sep '28 | M34 Oct '28 | M35 Nov '28 | M36 Dec '28 | M37 Jan '29 | M38 Feb '29 | M39 Mar '29 | M40 Apr '29 | M41 May '29 | M42 Jun '29 | M43 Jul '29 | M44 Aug '29 | M45 Sep '29 | M46 Oct '29 | M47 Nov '29 | M48 Dec '29 | M49 Jan '30 | M50 Feb '30 | M51 Mar '30 | M52 Apr '30 | M53 May '30 | M54 Jun '30 | M55 Jul '30 | M56 Aug '30 | M57 Sep '30 | M58 Oct '30 | M59 Nov '30 | M60 Dec '30 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Carrying amount, beginning of period Carrying amount of capitalized assets at the start of the period. | $K | 0 | 2 | 5 | 7 | 9 | 11 | 14 | 16 | 18 | 19 | 21 | 23 | 25 | 26 | 28 | 30 | 31 | 33 | 34 | 36 | 37 | 38 | 40 | 41 | 42 | 43 | 44 | 45 | 46 | 47 | 48 | 48 | 49 | 49 | 50 | 50 | 50 | 51 | 51 | 52 | 52 | 53 | 53 | 54 | 54 | 54 | 55 | 55 | 55 | 56 | 57 | 57 | 58 | 58 | 59 | 59 | 60 | 60 | 60 | 61 |
| Property, plant & equipment | $K | 0 | 2 | 5 | 7 | 9 | 11 | 14 | 16 | 18 | 19 | 21 | 23 | 25 | 26 | 28 | 30 | 31 | 33 | 34 | 36 | 37 | 38 | 40 | 41 | 42 | 43 | 44 | 45 | 46 | 47 | 48 | 48 | 49 | 49 | 50 | 50 | 50 | 51 | 51 | 52 | 52 | 53 | 53 | 54 | 54 | 54 | 55 | 55 | 55 | 56 | 57 | 57 | 58 | 58 | 59 | 59 | 60 | 60 | 60 | 61 |
| Computers & equipment | $K | 0 | 2 | 5 | 7 | 9 | 11 | 14 | 16 | 18 | 19 | 21 | 23 | 25 | 26 | 28 | 30 | 31 | 33 | 34 | 36 | 37 | 38 | 40 | 41 | 42 | 43 | 44 | 45 | 46 | 47 | 48 | 48 | 49 | 49 | 50 | 50 | 50 | 51 | 51 | 52 | 52 | 53 | 53 | 54 | 54 | 54 | 55 | 55 | 55 | 56 | 57 | 57 | 58 | 58 | 59 | 59 | 60 | 60 | 60 | 61 |
| Intangible assets | $K | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Additions Capital expenditure capitalized in the period: property, plant and equipment, intangible assets and capitalized development payroll. | $K | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 |
| Property, plant & equipment | $K | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 |
| Computers & equipment | $K | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 |
| Intangible assets | $K | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Depreciation & amortization The period's depreciation (PP&E) and amortization (intangibles), deducted from the carrying amount. | $K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 |
| Property, plant & equipment | $K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 |
| Computers & equipment | $K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 |
| Intangible assets | $K | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Carrying amount, end of period Carrying amount at period end: opening balance plus additions, less depreciation and amortization. | $K | 2 | 5 | 7 | 9 | 11 | 14 | 16 | 18 | 19 | 21 | 23 | 25 | 26 | 28 | 30 | 31 | 33 | 34 | 36 | 37 | 38 | 40 | 41 | 42 | 43 | 44 | 45 | 46 | 47 | 48 | 48 | 49 | 49 | 50 | 50 | 50 | 51 | 51 | 52 | 52 | 53 | 53 | 54 | 54 | 54 | 55 | 55 | 55 | 56 | 57 | 57 | 58 | 58 | 59 | 59 | 60 | 60 | 60 | 61 | 61 |
| Property, plant & equipment | $K | 2 | 5 | 7 | 9 | 11 | 14 | 16 | 18 | 19 | 21 | 23 | 25 | 26 | 28 | 30 | 31 | 33 | 34 | 36 | 37 | 38 | 40 | 41 | 42 | 43 | 44 | 45 | 46 | 47 | 48 | 48 | 49 | 49 | 50 | 50 | 50 | 51 | 51 | 52 | 52 | 53 | 53 | 54 | 54 | 54 | 55 | 55 | 55 | 56 | 57 | 57 | 58 | 58 | 59 | 59 | 60 | 60 | 60 | 61 | 61 |
| Computers & equipment | $K | 2 | 5 | 7 | 9 | 11 | 14 | 16 | 18 | 19 | 21 | 23 | 25 | 26 | 28 | 30 | 31 | 33 | 34 | 36 | 37 | 38 | 40 | 41 | 42 | 43 | 44 | 45 | 46 | 47 | 48 | 48 | 49 | 49 | 50 | 50 | 50 | 51 | 51 | 52 | 52 | 53 | 53 | 54 | 54 | 54 | 55 | 55 | 55 | 56 | 57 | 57 | 58 | 58 | 59 | 59 | 60 | 60 | 60 | 61 | 61 |
| Intangible assets | $K | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Taxes
Income tax
| Y1 2026 | Y2 2027 | Y3 2028 | Y4 2029 | Y5 2030 | ||
|---|---|---|---|---|---|---|
| Income tax expense Income tax charged against profit for the period. | $K | (443) | (525) | (521) | (481) | (263) |
| Income tax paid Income tax actually paid in cash during the period. | $K | - | - | - | - | - |
| Income tax payable Income tax owed but not yet paid at period end. | $K | - | - | - | - | - |
| Loss carryforward (deferred tax asset) Accumulated tax losses you can use to reduce future tax. | $K | 443 | 968 | 1,489 | 1,970 | 2,234 |
| Q1 Jan–Mar '26 | Q2 Apr–Jun '26 | Q3 Jul–Sep '26 | Q4 Oct–Dec '26 | Q5 Jan–Mar '27 | Q6 Apr–Jun '27 | Q7 Jul–Sep '27 | Q8 Oct–Dec '27 | Q9 Jan–Mar '28 | Q10 Apr–Jun '28 | Q11 Jul–Sep '28 | Q12 Oct–Dec '28 | Q13 Jan–Mar '29 | Q14 Apr–Jun '29 | Q15 Jul–Sep '29 | Q16 Oct–Dec '29 | Q17 Jan–Mar '30 | Q18 Apr–Jun '30 | Q19 Jul–Sep '30 | Q20 Oct–Dec '30 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income tax expense Income tax charged against profit for the period. | $K | (106) | (114) | (112) | (111) | (133) | (130) | (132) | (130) | (140) | (134) | (127) | (119) | (142) | (125) | (113) | (100) | (102) | (76) | (56) | (30) |
| Income tax paid Income tax actually paid in cash during the period. | $K | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Income tax payable Income tax owed but not yet paid at period end. | $K | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Loss carryforward (deferred tax asset) Accumulated tax losses you can use to reduce future tax. | $K | 106 | 220 | 333 | 443 | 576 | 706 | 838 | 968 | 1,109 | 1,243 | 1,370 | 1,489 | 1,632 | 1,757 | 1,870 | 1,970 | 2,072 | 2,148 | 2,204 | 2,234 |
| M1 Jan '26 | M2 Feb '26 | M3 Mar '26 | M4 Apr '26 | M5 May '26 | M6 Jun '26 | M7 Jul '26 | M8 Aug '26 | M9 Sep '26 | M10 Oct '26 | M11 Nov '26 | M12 Dec '26 | M13 Jan '27 | M14 Feb '27 | M15 Mar '27 | M16 Apr '27 | M17 May '27 | M18 Jun '27 | M19 Jul '27 | M20 Aug '27 | M21 Sep '27 | M22 Oct '27 | M23 Nov '27 | M24 Dec '27 | M25 Jan '28 | M26 Feb '28 | M27 Mar '28 | M28 Apr '28 | M29 May '28 | M30 Jun '28 | M31 Jul '28 | M32 Aug '28 | M33 Sep '28 | M34 Oct '28 | M35 Nov '28 | M36 Dec '28 | M37 Jan '29 | M38 Feb '29 | M39 Mar '29 | M40 Apr '29 | M41 May '29 | M42 Jun '29 | M43 Jul '29 | M44 Aug '29 | M45 Sep '29 | M46 Oct '29 | M47 Nov '29 | M48 Dec '29 | M49 Jan '30 | M50 Feb '30 | M51 Mar '30 | M52 Apr '30 | M53 May '30 | M54 Jun '30 | M55 Jul '30 | M56 Aug '30 | M57 Sep '30 | M58 Oct '30 | M59 Nov '30 | M60 Dec '30 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income tax expense Income tax charged against profit for the period. | $K | (35) | (35) | (35) | (39) | (38) | (38) | (38) | (37) | (37) | (38) | (37) | (36) | (46) | (44) | (43) | (44) | (42) | (44) | (45) | (44) | (44) | (45) | (43) | (42) | (49) | (46) | (45) | (46) | (45) | (44) | (45) | (41) | (40) | (42) | (38) | (39) | (52) | (46) | (44) | (47) | (40) | (38) | (43) | (36) | (34) | (38) | (32) | (30) | (41) | (32) | (28) | (32) | (24) | (20) | (26) | (15) | (14) | (19) | (7) | (4) |
| Income tax paid Income tax actually paid in cash during the period. | $K | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Income tax payable Income tax owed but not yet paid at period end. | $K | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Loss carryforward (deferred tax asset) Accumulated tax losses you can use to reduce future tax. | $K | 35 | 71 | 106 | 145 | 183 | 220 | 259 | 296 | 333 | 370 | 407 | 443 | 489 | 533 | 576 | 620 | 662 | 706 | 751 | 795 | 838 | 884 | 926 | 968 | 1,018 | 1,064 | 1,109 | 1,154 | 1,199 | 1,243 | 1,288 | 1,330 | 1,370 | 1,412 | 1,450 | 1,489 | 1,541 | 1,587 | 1,632 | 1,678 | 1,719 | 1,757 | 1,799 | 1,836 | 1,870 | 1,908 | 1,940 | 1,970 | 2,012 | 2,044 | 2,072 | 2,104 | 2,128 | 2,148 | 2,174 | 2,189 | 2,204 | 2,223 | 2,230 | 2,234 |
VAT
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Statements
Income statement
| Y1 2026 | Y2 2027 | Y3 2028 | Y4 2029 | Y5 2030 | ||
|---|---|---|---|---|---|---|
| Revenue Recognized revenue for the period. | $K | 252 | 840 | 1,885 | 3,640 | 6,522 |
| Cost of revenue Direct costs of serving customers. | $K | 114 | 214 | 385 | 672 | 1,103 |
| Gross profit Revenue minus cost of revenue. | $K | 138 | 626 | 1,500 | 2,968 | 5,419 |
| Gross margin % Gross profit as a share of revenue. | % | 55% | 75% | 80% | 82% | 83% |
| Operating expenses Payroll, marketing and other running costs. | $K | 2,243 | 3,110 | 3,953 | 5,225 | 6,635 |
| EBITDA Earnings before interest, taxes, depreciation and amortization. | $K | (2,105) | (2,484) | (2,453) | (2,257) | (1,216) |
| EBITDA margin % EBITDA as a share of revenue. | % | (836%) | (296%) | (130%) | (62%) | (19%) |
| Depreciation & amortization Non-cash expense spreading CAPEX over its useful life. | $K | 5 | 16 | 28 | 35 | 38 |
| Operating profit (loss) EBITDA minus depreciation and amortization. | $K | (2,111) | (2,500) | (2,480) | (2,292) | (1,254) |
| Finance costs Interest on loans and convertible notes. | $K | - | - | - | - | - |
| Profit (loss) before tax Operating profit minus finance costs. | $K | (2,111) | (2,500) | (2,480) | (2,292) | (1,254) |
| Income tax expense Tax expense after applying loss carryforwards. | $K | (443) | (525) | (521) | (481) | (263) |
| Profit (loss) for the period The bottom line after every expense, interest and tax. | $K | (1,668) | (1,975) | (1,960) | (1,810) | (991) |
| Net margin % Net income as a share of revenue. | % | (662%) | (235%) | (104%) | (50%) | (15%) |
| Q1 Jan–Mar '26 | Q2 Apr–Jun '26 | Q3 Jul–Sep '26 | Q4 Oct–Dec '26 | Q5 Jan–Mar '27 | Q6 Apr–Jun '27 | Q7 Jul–Sep '27 | Q8 Oct–Dec '27 | Q9 Jan–Mar '28 | Q10 Apr–Jun '28 | Q11 Jul–Sep '28 | Q12 Oct–Dec '28 | Q13 Jan–Mar '29 | Q14 Apr–Jun '29 | Q15 Jul–Sep '29 | Q16 Oct–Dec '29 | Q17 Jan–Mar '30 | Q18 Apr–Jun '30 | Q19 Jul–Sep '30 | Q20 Oct–Dec '30 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue Recognized revenue for the period. | $K | 32 | 52 | 74 | 95 | 146 | 189 | 232 | 274 | 358 | 434 | 509 | 584 | 720 | 847 | 973 | 1,100 | 1,319 | 1,526 | 1,734 | 1,944 |
| Cost of revenue Direct costs of serving customers. | $K | 25 | 27 | 30 | 32 | 37 | 42 | 61 | 73 | 83 | 91 | 98 | 113 | 145 | 158 | 170 | 199 | 232 | 253 | 299 | 320 |
| Gross profit Revenue minus cost of revenue. | $K | 6 | 24 | 44 | 63 | 108 | 147 | 170 | 201 | 275 | 343 | 411 | 470 | 575 | 689 | 803 | 901 | 1,087 | 1,273 | 1,435 | 1,624 |
| Gross margin % Gross profit as a share of revenue. | % | 19% | 47% | 60% | 67% | 74% | 78% | 74% | 73% | 77% | 79% | 81% | 81% | 80% | 81% | 83% | 82% | 82% | 83% | 83% | 84% |
| Operating expenses Payroll, marketing and other running costs. | $K | 510 | 568 | 578 | 588 | 739 | 761 | 796 | 814 | 937 | 976 | 1,009 | 1,031 | 1,245 | 1,275 | 1,335 | 1,370 | 1,561 | 1,625 | 1,690 | 1,759 |
| EBITDA Earnings before interest, taxes, depreciation and amortization. | $K | (503) | (544) | (533) | (525) | (631) | (614) | (626) | (614) | (662) | (633) | (597) | (561) | (670) | (586) | (532) | (469) | (475) | (352) | (255) | (134) |
| EBITDA margin % EBITDA as a share of revenue. | % | (1597%) | (1055%) | (723%) | (553%) | (433%) | (326%) | (270%) | (224%) | (185%) | (146%) | (117%) | (96%) | (93%) | (69%) | (55%) | (43%) | (36%) | (23%) | (15%) | (7%) |
| Depreciation & amortization Non-cash expense spreading CAPEX over its useful life. | $K | 0 | 1 | 2 | 2 | 3 | 4 | 4 | 5 | 6 | 7 | 7 | 8 | 8 | 9 | 9 | 9 | 9 | 9 | 10 | 10 |
| Operating profit (loss) EBITDA minus depreciation and amortization. | $K | (504) | (545) | (535) | (527) | (633) | (618) | (630) | (619) | (668) | (639) | (605) | (569) | (678) | (595) | (540) | (478) | (484) | (362) | (265) | (144) |
| Finance costs Interest on loans and convertible notes. | $K | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Profit (loss) before tax Operating profit minus finance costs. | $K | (504) | (545) | (535) | (527) | (633) | (618) | (630) | (619) | (668) | (639) | (605) | (569) | (678) | (595) | (540) | (478) | (484) | (362) | (265) | (144) |
| Income tax expense Tax expense after applying loss carryforwards. | $K | (106) | (114) | (112) | (111) | (133) | (130) | (132) | (130) | (140) | (134) | (127) | (119) | (142) | (125) | (113) | (100) | (102) | (76) | (56) | (30) |
| Profit (loss) for the period The bottom line after every expense, interest and tax. | $K | (398) | (431) | (423) | (416) | (500) | (488) | (498) | (489) | (528) | (505) | (478) | (449) | (536) | (470) | (427) | (377) | (382) | (286) | (209) | (114) |
| Net margin % Net income as a share of revenue. | % | (1263%) | (835%) | (573%) | (438%) | (343%) | (259%) | (215%) | (178%) | (147%) | (116%) | (94%) | (77%) | (74%) | (56%) | (44%) | (34%) | (29%) | (19%) | (12%) | (6%) |
| M1 Jan '26 | M2 Feb '26 | M3 Mar '26 | M4 Apr '26 | M5 May '26 | M6 Jun '26 | M7 Jul '26 | M8 Aug '26 | M9 Sep '26 | M10 Oct '26 | M11 Nov '26 | M12 Dec '26 | M13 Jan '27 | M14 Feb '27 | M15 Mar '27 | M16 Apr '27 | M17 May '27 | M18 Jun '27 | M19 Jul '27 | M20 Aug '27 | M21 Sep '27 | M22 Oct '27 | M23 Nov '27 | M24 Dec '27 | M25 Jan '28 | M26 Feb '28 | M27 Mar '28 | M28 Apr '28 | M29 May '28 | M30 Jun '28 | M31 Jul '28 | M32 Aug '28 | M33 Sep '28 | M34 Oct '28 | M35 Nov '28 | M36 Dec '28 | M37 Jan '29 | M38 Feb '29 | M39 Mar '29 | M40 Apr '29 | M41 May '29 | M42 Jun '29 | M43 Jul '29 | M44 Aug '29 | M45 Sep '29 | M46 Oct '29 | M47 Nov '29 | M48 Dec '29 | M49 Jan '30 | M50 Feb '30 | M51 Mar '30 | M52 Apr '30 | M53 May '30 | M54 Jun '30 | M55 Jul '30 | M56 Aug '30 | M57 Sep '30 | M58 Oct '30 | M59 Nov '30 | M60 Dec '30 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue Recognized revenue for the period. | $K | 8 | 11 | 13 | 15 | 17 | 20 | 22 | 25 | 27 | 29 | 32 | 34 | 44 | 49 | 53 | 58 | 63 | 68 | 73 | 77 | 82 | 87 | 91 | 96 | 111 | 119 | 128 | 136 | 145 | 153 | 161 | 170 | 178 | 186 | 195 | 203 | 226 | 240 | 254 | 268 | 282 | 296 | 310 | 324 | 339 | 353 | 367 | 381 | 416 | 440 | 463 | 485 | 509 | 532 | 555 | 578 | 601 | 624 | 648 | 672 |
| Cost of revenue Direct costs of serving customers. | $K | 8 | 8 | 9 | 9 | 9 | 9 | 10 | 10 | 10 | 10 | 11 | 11 | 12 | 13 | 13 | 13 | 14 | 14 | 15 | 23 | 23 | 24 | 24 | 25 | 27 | 28 | 29 | 29 | 30 | 31 | 32 | 33 | 34 | 34 | 35 | 44 | 47 | 48 | 50 | 51 | 53 | 54 | 55 | 57 | 58 | 60 | 69 | 71 | 75 | 77 | 80 | 82 | 84 | 87 | 97 | 100 | 102 | 104 | 107 | 109 |
| Gross profit Revenue minus cost of revenue. | $K | 0 | 2 | 4 | 6 | 8 | 10 | 13 | 15 | 17 | 19 | 21 | 23 | 32 | 36 | 40 | 45 | 49 | 53 | 58 | 54 | 59 | 63 | 67 | 71 | 84 | 92 | 99 | 107 | 114 | 122 | 130 | 137 | 145 | 152 | 159 | 159 | 179 | 192 | 204 | 217 | 230 | 242 | 255 | 268 | 280 | 293 | 298 | 310 | 341 | 362 | 383 | 404 | 424 | 445 | 458 | 478 | 499 | 520 | 541 | 563 |
| Gross margin % Gross profit as a share of revenue. | % | 1% | 20% | 31% | 39% | 47% | 52% | 57% | 60% | 63% | 65% | 67% | 68% | 73% | 74% | 76% | 77% | 78% | 79% | 79% | 70% | 71% | 72% | 73% | 74% | 76% | 77% | 78% | 78% | 79% | 80% | 80% | 81% | 81% | 82% | 82% | 78% | 79% | 80% | 80% | 81% | 81% | 82% | 82% | 83% | 83% | 83% | 81% | 81% | 82% | 82% | 83% | 83% | 83% | 84% | 82% | 83% | 83% | 83% | 84% | 84% |
| Operating expenses Payroll, marketing and other running costs. | $K | 169 | 170 | 171 | 192 | 188 | 189 | 195 | 191 | 192 | 198 | 194 | 195 | 248 | 245 | 246 | 252 | 249 | 260 | 268 | 263 | 265 | 276 | 268 | 270 | 317 | 309 | 311 | 323 | 325 | 327 | 343 | 332 | 334 | 352 | 338 | 341 | 423 | 410 | 412 | 437 | 418 | 421 | 456 | 438 | 441 | 471 | 448 | 451 | 534 | 511 | 515 | 552 | 534 | 539 | 580 | 547 | 563 | 608 | 573 | 578 |
| EBITDA Earnings before interest, taxes, depreciation and amortization. | $K | (169) | (168) | (167) | (186) | (180) | (178) | (182) | (176) | (175) | (179) | (173) | (172) | (216) | (208) | (206) | (208) | (200) | (207) | (211) | (209) | (206) | (214) | (201) | (199) | (233) | (217) | (212) | (217) | (211) | (205) | (214) | (195) | (189) | (200) | (179) | (182) | (244) | (218) | (208) | (220) | (188) | (179) | (201) | (170) | (161) | (178) | (150) | (141) | (193) | (149) | (132) | (149) | (110) | (93) | (122) | (69) | (64) | (88) | (31) | (15) |
| EBITDA margin % EBITDA as a share of revenue. | % | (2022%) | (1590%) | (1323%) | (1270%) | (1044%) | (905%) | (821%) | (716%) | (649%) | (610%) | (547%) | (507%) | (495%) | (429%) | (385%) | (359%) | (317%) | (305%) | (290%) | (270%) | (252%) | (247%) | (220%) | (207%) | (210%) | (182%) | (166%) | (159%) | (146%) | (134%) | (132%) | (115%) | (106%) | (107%) | (92%) | (90%) | (108%) | (91%) | (82%) | (82%) | (67%) | (60%) | (65%) | (52%) | (47%) | (50%) | (41%) | (37%) | (46%) | (34%) | (29%) | (31%) | (22%) | (18%) | (22%) | (12%) | (11%) | (14%) | (5%) | (2%) |
| Depreciation & amortization Non-cash expense spreading CAPEX over its useful life. | $K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 |
| Operating profit (loss) EBITDA minus depreciation and amortization. | $K | (169) | (168) | (167) | (186) | (180) | (179) | (183) | (177) | (176) | (180) | (174) | (173) | (217) | (209) | (207) | (209) | (201) | (208) | (212) | (210) | (208) | (215) | (203) | (200) | (235) | (219) | (214) | (219) | (213) | (208) | (216) | (197) | (192) | (202) | (182) | (185) | (247) | (221) | (211) | (222) | (191) | (181) | (204) | (173) | (164) | (181) | (153) | (144) | (196) | (152) | (135) | (152) | (113) | (97) | (125) | (72) | (67) | (91) | (35) | (18) |
| Finance costs Interest on loans and convertible notes. | $K | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Profit (loss) before tax Operating profit minus finance costs. | $K | (169) | (168) | (167) | (186) | (180) | (179) | (183) | (177) | (176) | (180) | (174) | (173) | (217) | (209) | (207) | (209) | (201) | (208) | (212) | (210) | (208) | (215) | (203) | (200) | (235) | (219) | (214) | (219) | (213) | (208) | (216) | (197) | (192) | (202) | (182) | (185) | (247) | (221) | (211) | (222) | (191) | (181) | (204) | (173) | (164) | (181) | (153) | (144) | (196) | (152) | (135) | (152) | (113) | (97) | (125) | (72) | (67) | (91) | (35) | (18) |
| Income tax expense Tax expense after applying loss carryforwards. | $K | (35) | (35) | (35) | (39) | (38) | (38) | (38) | (37) | (37) | (38) | (37) | (36) | (46) | (44) | (43) | (44) | (42) | (44) | (45) | (44) | (44) | (45) | (43) | (42) | (49) | (46) | (45) | (46) | (45) | (44) | (45) | (41) | (40) | (42) | (38) | (39) | (52) | (46) | (44) | (47) | (40) | (38) | (43) | (36) | (34) | (38) | (32) | (30) | (41) | (32) | (28) | (32) | (24) | (20) | (26) | (15) | (14) | (19) | (7) | (4) |
| Profit (loss) for the period The bottom line after every expense, interest and tax. | $K | (133) | (133) | (132) | (147) | (142) | (141) | (144) | (140) | (139) | (142) | (137) | (137) | (172) | (165) | (163) | (165) | (159) | (164) | (168) | (166) | (164) | (170) | (160) | (158) | (186) | (173) | (169) | (173) | (168) | (164) | (171) | (156) | (152) | (160) | (144) | (146) | (195) | (174) | (167) | (176) | (151) | (143) | (161) | (137) | (129) | (143) | (121) | (114) | (155) | (120) | (107) | (120) | (89) | (76) | (99) | (57) | (53) | (72) | (27) | (15) |
| Net margin % Net income as a share of revenue. | % | (1598%) | (1257%) | (1046%) | (1005%) | (826%) | (716%) | (651%) | (568%) | (515%) | (484%) | (434%) | (403%) | (392%) | (340%) | (306%) | (285%) | (252%) | (243%) | (231%) | (215%) | (200%) | (196%) | (175%) | (165%) | (168%) | (145%) | (132%) | (127%) | (116%) | (107%) | (106%) | (92%) | (85%) | (86%) | (74%) | (72%) | (86%) | (73%) | (66%) | (66%) | (54%) | (48%) | (52%) | (42%) | (38%) | (41%) | (33%) | (30%) | (37%) | (27%) | (23%) | (25%) | (18%) | (14%) | (18%) | (10%) | (9%) | (12%) | (4%) | (2%) |
Statement of Cash Flows
| Y1 2026 | Y2 2027 | Y3 2028 | Y4 2029 | Y5 2030 | ||
|---|---|---|---|---|---|---|
| Net cash from operating activities Cash generated or consumed by day-to-day operations, built up from net income (indirect method). | $K | (1,753) | (2,043) | (1,715) | (1,029) | 733 |
| Profit (loss) for the period | $K | (1,668) | (1,975) | (1,960) | (1,810) | (991) |
| Depreciation & amortization | $K | 5 | 16 | 28 | 35 | 38 |
| Change in working capital | $K | 352 | 441 | 738 | 1,228 | 1,949 |
| Income tax (expense less paid) | $K | (443) | (525) | (521) | (481) | (263) |
| Net cash used in investing activities Cash spent on CAPEX and other investments. | $K | (30) | (33) | (36) | (40) | (44) |
| Purchase of property, plant & equipment | $K | (30) | (33) | (36) | (40) | (44) |
| Net cash from financing activities Cash raised from equity and loans, minus repayments and dividends. | $K | 5,000 | - | - | - | - |
| Proceeds from issuance of equity instruments | $K | 5,000 | - | - | - | - |
| Net change in cash The sum of operating, investing and financing cash flows. | $K | 3,217 | (2,076) | (1,751) | (1,069) | 689 |
| Cash, end of period Cash in the bank at the end of the period. | $K | 5,217 | 3,141 | 1,389 | 321 | 1,010 |
| Q1 Jan–Mar '26 | Q2 Apr–Jun '26 | Q3 Jul–Sep '26 | Q4 Oct–Dec '26 | Q5 Jan–Mar '27 | Q6 Apr–Jun '27 | Q7 Jul–Sep '27 | Q8 Oct–Dec '27 | Q9 Jan–Mar '28 | Q10 Apr–Jun '28 | Q11 Jul–Sep '28 | Q12 Oct–Dec '28 | Q13 Jan–Mar '29 | Q14 Apr–Jun '29 | Q15 Jul–Sep '29 | Q16 Oct–Dec '29 | Q17 Jan–Mar '30 | Q18 Apr–Jun '30 | Q19 Jul–Sep '30 | Q20 Oct–Dec '30 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net cash from operating activities Cash generated or consumed by day-to-day operations, built up from net income (indirect method). | $K | (279) | (489) | (493) | (493) | (482) | (507) | (524) | (530) | (457) | (444) | (424) | (389) | (338) | (290) | (228) | (172) | (1) | 138 | 244 | 352 |
| Profit (loss) for the period | $K | (398) | (431) | (423) | (416) | (500) | (488) | (498) | (489) | (528) | (505) | (478) | (449) | (536) | (470) | (427) | (377) | (382) | (286) | (209) | (114) |
| Depreciation & amortization | $K | 0 | 1 | 2 | 2 | 3 | 4 | 4 | 5 | 6 | 7 | 7 | 8 | 8 | 9 | 9 | 9 | 9 | 9 | 10 | 10 |
| Change in working capital | $K | 225 | 55 | 41 | 32 | 148 | 107 | 102 | 83 | 205 | 188 | 173 | 172 | 331 | 297 | 303 | 296 | 474 | 490 | 499 | 486 |
| Income tax (expense less paid) | $K | (106) | (114) | (112) | (111) | (133) | (130) | (132) | (130) | (140) | (134) | (127) | (119) | (142) | (125) | (113) | (100) | (102) | (76) | (56) | (30) |
| Net cash used in investing activities Cash spent on CAPEX and other investments. | $K | (8) | (8) | (8) | (8) | (8) | (8) | (8) | (8) | (9) | (9) | (9) | (9) | (10) | (10) | (10) | (10) | (11) | (11) | (11) | (11) |
| Purchase of property, plant & equipment | $K | (8) | (8) | (8) | (8) | (8) | (8) | (8) | (8) | (9) | (9) | (9) | (9) | (10) | (10) | (10) | (10) | (11) | (11) | (11) | (11) |
| Net cash from financing activities Cash raised from equity and loans, minus repayments and dividends. | $K | - | 5,000 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Proceeds from issuance of equity instruments | $K | - | 5,000 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Net change in cash The sum of operating, investing and financing cash flows. | $K | (286) | 4,504 | (500) | (500) | (491) | (515) | (532) | (538) | (466) | (453) | (433) | (398) | (348) | (300) | (238) | (182) | (12) | 127 | 233 | 341 |
| Cash, end of period Cash in the bank at the end of the period. | $K | 1,714 | 6,218 | 5,717 | 5,217 | 4,726 | 4,211 | 3,679 | 3,141 | 2,674 | 2,221 | 1,787 | 1,389 | 1,041 | 741 | 503 | 321 | 309 | 436 | 669 | 1,010 |
| M1 Jan '26 | M2 Feb '26 | M3 Mar '26 | M4 Apr '26 | M5 May '26 | M6 Jun '26 | M7 Jul '26 | M8 Aug '26 | M9 Sep '26 | M10 Oct '26 | M11 Nov '26 | M12 Dec '26 | M13 Jan '27 | M14 Feb '27 | M15 Mar '27 | M16 Apr '27 | M17 May '27 | M18 Jun '27 | M19 Jul '27 | M20 Aug '27 | M21 Sep '27 | M22 Oct '27 | M23 Nov '27 | M24 Dec '27 | M25 Jan '28 | M26 Feb '28 | M27 Mar '28 | M28 Apr '28 | M29 May '28 | M30 Jun '28 | M31 Jul '28 | M32 Aug '28 | M33 Sep '28 | M34 Oct '28 | M35 Nov '28 | M36 Dec '28 | M37 Jan '29 | M38 Feb '29 | M39 Mar '29 | M40 Apr '29 | M41 May '29 | M42 Jun '29 | M43 Jul '29 | M44 Aug '29 | M45 Sep '29 | M46 Oct '29 | M47 Nov '29 | M48 Dec '29 | M49 Jan '30 | M50 Feb '30 | M51 Mar '30 | M52 Apr '30 | M53 May '30 | M54 Jun '30 | M55 Jul '30 | M56 Aug '30 | M57 Sep '30 | M58 Oct '30 | M59 Nov '30 | M60 Dec '30 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net cash from operating activities Cash generated or consumed by day-to-day operations, built up from net income (indirect method). | $K | (33) | (77) | (168) | (149) | (181) | (159) | (168) | (167) | (158) | (166) | (161) | (165) | (197) | (100) | (185) | (167) | (180) | (159) | (176) | (177) | (172) | (178) | (178) | (174) | (214) | (92) | (152) | (145) | (157) | (143) | (142) | (150) | (132) | (129) | (140) | (120) | (182) | (63) | (93) | (99) | (109) | (81) | (66) | (93) | (70) | (51) | (80) | (41) | (115) | 36 | 78 | 39 | 42 | 57 | 99 | 56 | 89 | 125 | 68 | 159 |
| Profit (loss) for the period | $K | (133) | (133) | (132) | (147) | (142) | (141) | (144) | (140) | (139) | (142) | (137) | (137) | (172) | (165) | (163) | (165) | (159) | (164) | (168) | (166) | (164) | (170) | (160) | (158) | (186) | (173) | (169) | (173) | (168) | (164) | (171) | (156) | (152) | (160) | (144) | (146) | (195) | (174) | (167) | (176) | (151) | (143) | (161) | (137) | (129) | (143) | (121) | (114) | (155) | (120) | (107) | (120) | (89) | (76) | (99) | (57) | (53) | (72) | (27) | (15) |
| Depreciation & amortization | $K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 |
| Change in working capital | $K | 135 | 90 | (1) | 37 | (1) | 20 | 14 | 9 | 18 | 13 | 12 | 7 | 19 | 108 | 21 | 41 | 19 | 47 | 35 | 32 | 34 | 36 | 23 | 25 | 19 | 126 | 60 | 72 | 54 | 62 | 72 | 45 | 57 | 70 | 39 | 62 | 62 | 155 | 115 | 120 | 79 | 97 | 135 | 77 | 91 | 127 | 70 | 100 | 78 | 185 | 210 | 187 | 152 | 151 | 221 | 125 | 153 | 213 | 99 | 174 |
| Income tax (expense less paid) | $K | (35) | (35) | (35) | (39) | (38) | (38) | (38) | (37) | (37) | (38) | (37) | (36) | (46) | (44) | (43) | (44) | (42) | (44) | (45) | (44) | (44) | (45) | (43) | (42) | (49) | (46) | (45) | (46) | (45) | (44) | (45) | (41) | (40) | (42) | (38) | (39) | (52) | (46) | (44) | (47) | (40) | (38) | (43) | (36) | (34) | (38) | (32) | (30) | (41) | (32) | (28) | (32) | (24) | (20) | (26) | (15) | (14) | (19) | (7) | (4) |
| Net cash used in investing activities Cash spent on CAPEX and other investments. | $K | (3) | (3) | (3) | (3) | (3) | (3) | (3) | (3) | (3) | (3) | (3) | (3) | (3) | (3) | (3) | (3) | (3) | (3) | (3) | (3) | (3) | (3) | (3) | (3) | (3) | (3) | (3) | (3) | (3) | (3) | (3) | (3) | (3) | (3) | (3) | (3) | (3) | (3) | (3) | (3) | (3) | (3) | (3) | (3) | (3) | (3) | (3) | (3) | (4) | (4) | (4) | (4) | (4) | (4) | (4) | (4) | (4) | (4) | (4) | (4) |
| Purchase of property, plant & equipment | $K | (3) | (3) | (3) | (3) | (3) | (3) | (3) | (3) | (3) | (3) | (3) | (3) | (3) | (3) | (3) | (3) | (3) | (3) | (3) | (3) | (3) | (3) | (3) | (3) | (3) | (3) | (3) | (3) | (3) | (3) | (3) | (3) | (3) | (3) | (3) | (3) | (3) | (3) | (3) | (3) | (3) | (3) | (3) | (3) | (3) | (3) | (3) | (3) | (4) | (4) | (4) | (4) | (4) | (4) | (4) | (4) | (4) | (4) | (4) | (4) |
| Net cash from financing activities Cash raised from equity and loans, minus repayments and dividends. | $K | - | - | - | 5,000 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Proceeds from issuance of equity instruments | $K | - | - | - | 5,000 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Net change in cash The sum of operating, investing and financing cash flows. | $K | (36) | (80) | (170) | 4,848 | (183) | (161) | (171) | (170) | (160) | (169) | (164) | (168) | (200) | (103) | (188) | (170) | (183) | (162) | (178) | (179) | (175) | (181) | (181) | (176) | (217) | (95) | (155) | (148) | (160) | (146) | (145) | (153) | (135) | (132) | (143) | (123) | (185) | (66) | (97) | (103) | (113) | (84) | (69) | (96) | (73) | (55) | (83) | (44) | (118) | 32 | 74 | 35 | 38 | 54 | 95 | 52 | 86 | 121 | 64 | 155 |
| Cash, end of period Cash in the bank at the end of the period. | $K | 1,964 | 1,884 | 1,714 | 6,562 | 6,379 | 6,218 | 6,047 | 5,877 | 5,717 | 5,548 | 5,384 | 5,217 | 5,017 | 4,914 | 4,726 | 4,557 | 4,374 | 4,211 | 4,033 | 3,854 | 3,679 | 3,498 | 3,317 | 3,141 | 2,924 | 2,829 | 2,674 | 2,527 | 2,367 | 2,221 | 2,076 | 1,923 | 1,787 | 1,655 | 1,512 | 1,389 | 1,204 | 1,138 | 1,041 | 938 | 826 | 741 | 672 | 576 | 503 | 448 | 365 | 321 | 202 | 235 | 309 | 344 | 382 | 436 | 531 | 583 | 669 | 790 | 855 | 1,010 |
Statement of Financial Position
| Y1 2026 | Y2 2027 | Y3 2028 | Y4 2029 | Y5 2030 | ||
|---|---|---|---|---|---|---|
| Total assets Everything the company owns: cash, receivables and capitalized assets. | $K | 5,753 | 4,337 | 3,314 | 3,058 | 4,546 |
| Non-current assets | $K | 25 | 42 | 50 | 55 | 61 |
| Property, plant and equipment | $K | 25 | 42 | 50 | 55 | 61 |
| Current assets | $K | 5,729 | 4,295 | 3,264 | 3,003 | 4,485 |
| Accounts receivable | $K | 68 | 186 | 385 | 711 | 1,241 |
| Deferred tax asset | $K | 443 | 968 | 1,489 | 1,970 | 2,234 |
| Cash and cash equivalents | $K | 5,217 | 3,141 | 1,389 | 321 | 1,010 |
| Total equity and liabilities How the assets are financed: owners' equity plus what the company owes. | $K | 5,753 | 4,337 | 3,314 | 3,058 | 4,546 |
| Equity | $K | 5,332 | 3,357 | 1,398 | (413) | (1,404) |
| Share capital and premium | $K | 7,200 | 7,200 | 7,200 | 7,200 | 7,200 |
| Retained earnings | $K | (1,868) | (3,843) | (5,802) | (7,613) | (8,604) |
| Current liabilities | $K | 421 | 979 | 1,916 | 3,471 | 5,950 |
| Contract liabilities (deferred revenue) | $K | 219 | 692 | 1,541 | 2,963 | 5,282 |
| Accounts payable | $K | 202 | 288 | 375 | 508 | 668 |
| Q1 Jan–Mar '26 | Q2 Apr–Jun '26 | Q3 Jul–Sep '26 | Q4 Oct–Dec '26 | Q5 Jan–Mar '27 | Q6 Apr–Jun '27 | Q7 Jul–Sep '27 | Q8 Oct–Dec '27 | Q9 Jan–Mar '28 | Q10 Apr–Jun '28 | Q11 Jul–Sep '28 | Q12 Oct–Dec '28 | Q13 Jan–Mar '29 | Q14 Apr–Jun '29 | Q15 Jul–Sep '29 | Q16 Oct–Dec '29 | Q17 Jan–Mar '30 | Q18 Apr–Jun '30 | Q19 Jul–Sep '30 | Q20 Oct–Dec '30 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total assets Everything the company owns: cash, receivables and capitalized assets. | $K | 1,865 | 6,505 | 6,131 | 5,753 | 5,463 | 5,109 | 4,730 | 4,337 | 4,113 | 3,843 | 3,570 | 3,314 | 3,264 | 3,168 | 3,102 | 3,058 | 3,390 | 3,724 | 4,110 | 4,546 |
| Non-current assets | $K | 7 | 14 | 19 | 25 | 30 | 34 | 38 | 42 | 45 | 48 | 49 | 50 | 52 | 53 | 54 | 55 | 57 | 59 | 60 | 61 |
| Property, plant and equipment | $K | 7 | 14 | 19 | 25 | 30 | 34 | 38 | 42 | 45 | 48 | 49 | 50 | 52 | 53 | 54 | 55 | 57 | 59 | 60 | 61 |
| Current assets | $K | 1,858 | 6,492 | 6,112 | 5,729 | 5,433 | 5,075 | 4,692 | 4,295 | 4,068 | 3,795 | 3,521 | 3,264 | 3,212 | 3,115 | 3,047 | 3,003 | 3,333 | 3,665 | 4,050 | 4,485 |
| Accounts receivable | $K | 38 | 54 | 62 | 68 | 130 | 157 | 174 | 186 | 285 | 332 | 363 | 385 | 539 | 617 | 674 | 711 | 952 | 1,081 | 1,178 | 1,241 |
| Deferred tax asset | $K | 106 | 220 | 333 | 443 | 576 | 706 | 838 | 968 | 1,109 | 1,243 | 1,370 | 1,489 | 1,632 | 1,757 | 1,870 | 1,970 | 2,072 | 2,148 | 2,204 | 2,234 |
| Cash and cash equivalents | $K | 1,714 | 6,218 | 5,717 | 5,217 | 4,726 | 4,211 | 3,679 | 3,141 | 2,674 | 2,221 | 1,787 | 1,389 | 1,041 | 741 | 503 | 321 | 309 | 436 | 669 | 1,010 |
| Total equity and liabilities How the assets are financed: owners' equity plus what the company owes. | $K | 1,865 | 6,505 | 6,131 | 5,753 | 5,463 | 5,109 | 4,730 | 4,337 | 4,113 | 3,843 | 3,570 | 3,314 | 3,264 | 3,168 | 3,102 | 3,058 | 3,390 | 3,724 | 4,110 | 4,546 |
| Equity | $K | 1,602 | 6,171 | 5,749 | 5,332 | 4,832 | 4,344 | 3,846 | 3,357 | 2,830 | 2,325 | 1,847 | 1,398 | 862 | 392 | (35) | (413) | (795) | (1,081) | (1,290) | (1,404) |
| Share capital and premium | $K | 2,200 | 7,200 | 7,200 | 7,200 | 7,200 | 7,200 | 7,200 | 7,200 | 7,200 | 7,200 | 7,200 | 7,200 | 7,200 | 7,200 | 7,200 | 7,200 | 7,200 | 7,200 | 7,200 | 7,200 |
| Retained earnings | $K | (598) | (1,029) | (1,451) | (1,868) | (2,368) | (2,856) | (3,354) | (3,843) | (4,370) | (4,875) | (5,353) | (5,802) | (6,338) | (6,808) | (7,235) | (7,613) | (7,995) | (8,281) | (8,490) | (8,604) |
| Current liabilities | $K | 263 | 334 | 383 | 421 | 631 | 765 | 884 | 979 | 1,283 | 1,518 | 1,723 | 1,916 | 2,402 | 2,777 | 3,137 | 3,471 | 4,185 | 4,804 | 5,400 | 5,950 |
| Contract liabilities (deferred revenue) | $K | 87 | 133 | 178 | 219 | 377 | 488 | 593 | 692 | 952 | 1,157 | 1,353 | 1,541 | 1,951 | 2,298 | 2,634 | 2,963 | 3,606 | 4,175 | 4,731 | 5,282 |
| Accounts payable | $K | 176 | 201 | 205 | 202 | 253 | 277 | 291 | 288 | 331 | 361 | 370 | 375 | 450 | 478 | 502 | 508 | 579 | 629 | 669 | 668 |
| M1 Jan '26 | M2 Feb '26 | M3 Mar '26 | M4 Apr '26 | M5 May '26 | M6 Jun '26 | M7 Jul '26 | M8 Aug '26 | M9 Sep '26 | M10 Oct '26 | M11 Nov '26 | M12 Dec '26 | M13 Jan '27 | M14 Feb '27 | M15 Mar '27 | M16 Apr '27 | M17 May '27 | M18 Jun '27 | M19 Jul '27 | M20 Aug '27 | M21 Sep '27 | M22 Oct '27 | M23 Nov '27 | M24 Dec '27 | M25 Jan '28 | M26 Feb '28 | M27 Mar '28 | M28 Apr '28 | M29 May '28 | M30 Jun '28 | M31 Jul '28 | M32 Aug '28 | M33 Sep '28 | M34 Oct '28 | M35 Nov '28 | M36 Dec '28 | M37 Jan '29 | M38 Feb '29 | M39 Mar '29 | M40 Apr '29 | M41 May '29 | M42 Jun '29 | M43 Jul '29 | M44 Aug '29 | M45 Sep '29 | M46 Oct '29 | M47 Nov '29 | M48 Dec '29 | M49 Jan '30 | M50 Feb '30 | M51 Mar '30 | M52 Apr '30 | M53 May '30 | M54 Jun '30 | M55 Jul '30 | M56 Aug '30 | M57 Sep '30 | M58 Oct '30 | M59 Nov '30 | M60 Dec '30 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total assets Everything the company owns: cash, receivables and capitalized assets. | $K | 2,099 | 2,001 | 1,865 | 6,758 | 6,623 | 6,505 | 6,376 | 6,248 | 6,131 | 6,003 | 5,882 | 5,753 | 5,718 | 5,615 | 5,463 | 5,348 | 5,216 | 5,109 | 4,977 | 4,849 | 4,730 | 4,596 | 4,470 | 4,337 | 4,319 | 4,233 | 4,113 | 4,031 | 3,924 | 3,843 | 3,743 | 3,642 | 3,570 | 3,480 | 3,399 | 3,314 | 3,374 | 3,357 | 3,264 | 3,243 | 3,177 | 3,168 | 3,141 | 3,099 | 3,102 | 3,083 | 3,074 | 3,058 | 3,240 | 3,359 | 3,390 | 3,518 | 3,584 | 3,724 | 3,841 | 3,940 | 4,110 | 4,246 | 4,392 | 4,546 |
| Non-current assets | $K | 2 | 5 | 7 | 9 | 11 | 14 | 16 | 18 | 19 | 21 | 23 | 25 | 26 | 28 | 30 | 31 | 33 | 34 | 36 | 37 | 38 | 40 | 41 | 42 | 43 | 44 | 45 | 46 | 47 | 48 | 48 | 49 | 49 | 50 | 50 | 50 | 51 | 51 | 52 | 52 | 53 | 53 | 54 | 54 | 54 | 55 | 55 | 55 | 56 | 57 | 57 | 58 | 58 | 59 | 59 | 60 | 60 | 60 | 61 | 61 |
| Property, plant and equipment | $K | 2 | 5 | 7 | 9 | 11 | 14 | 16 | 18 | 19 | 21 | 23 | 25 | 26 | 28 | 30 | 31 | 33 | 34 | 36 | 37 | 38 | 40 | 41 | 42 | 43 | 44 | 45 | 46 | 47 | 48 | 48 | 49 | 49 | 50 | 50 | 50 | 51 | 51 | 52 | 52 | 53 | 53 | 54 | 54 | 54 | 55 | 55 | 55 | 56 | 57 | 57 | 58 | 58 | 59 | 59 | 60 | 60 | 60 | 61 | 61 |
| Current assets | $K | 2,096 | 1,996 | 1,858 | 6,749 | 6,611 | 6,492 | 6,360 | 6,230 | 6,112 | 5,982 | 5,859 | 5,729 | 5,692 | 5,587 | 5,433 | 5,316 | 5,183 | 5,075 | 4,941 | 4,811 | 4,692 | 4,556 | 4,430 | 4,295 | 4,276 | 4,189 | 4,068 | 3,985 | 3,877 | 3,795 | 3,695 | 3,593 | 3,521 | 3,430 | 3,349 | 3,264 | 3,323 | 3,306 | 3,212 | 3,191 | 3,124 | 3,115 | 3,087 | 3,045 | 3,047 | 3,028 | 3,019 | 3,003 | 3,184 | 3,303 | 3,333 | 3,460 | 3,526 | 3,665 | 3,782 | 3,881 | 4,050 | 4,186 | 4,331 | 4,485 |
| Accounts receivable | $K | 97 | 41 | 38 | 42 | 50 | 54 | 55 | 57 | 62 | 63 | 68 | 68 | 186 | 140 | 130 | 140 | 147 | 157 | 158 | 163 | 174 | 174 | 186 | 186 | 335 | 296 | 285 | 304 | 311 | 332 | 331 | 341 | 363 | 362 | 386 | 385 | 578 | 580 | 539 | 574 | 580 | 617 | 615 | 633 | 674 | 671 | 714 | 711 | 970 | 1,024 | 952 | 1,012 | 1,016 | 1,081 | 1,076 | 1,108 | 1,178 | 1,173 | 1,247 | 1,241 |
| Deferred tax asset | $K | 35 | 71 | 106 | 145 | 183 | 220 | 259 | 296 | 333 | 370 | 407 | 443 | 489 | 533 | 576 | 620 | 662 | 706 | 751 | 795 | 838 | 884 | 926 | 968 | 1,018 | 1,064 | 1,109 | 1,154 | 1,199 | 1,243 | 1,288 | 1,330 | 1,370 | 1,412 | 1,450 | 1,489 | 1,541 | 1,587 | 1,632 | 1,678 | 1,719 | 1,757 | 1,799 | 1,836 | 1,870 | 1,908 | 1,940 | 1,970 | 2,012 | 2,044 | 2,072 | 2,104 | 2,128 | 2,148 | 2,174 | 2,189 | 2,204 | 2,223 | 2,230 | 2,234 |
| Cash and cash equivalents | $K | 1,964 | 1,884 | 1,714 | 6,562 | 6,379 | 6,218 | 6,047 | 5,877 | 5,717 | 5,548 | 5,384 | 5,217 | 5,017 | 4,914 | 4,726 | 4,557 | 4,374 | 4,211 | 4,033 | 3,854 | 3,679 | 3,498 | 3,317 | 3,141 | 2,924 | 2,829 | 2,674 | 2,527 | 2,367 | 2,221 | 2,076 | 1,923 | 1,787 | 1,655 | 1,512 | 1,389 | 1,204 | 1,138 | 1,041 | 938 | 826 | 741 | 672 | 576 | 503 | 448 | 365 | 321 | 202 | 235 | 309 | 344 | 382 | 436 | 531 | 583 | 669 | 790 | 855 | 1,010 |
| Total equity and liabilities How the assets are financed: owners' equity plus what the company owes. | $K | 2,099 | 2,001 | 1,865 | 6,758 | 6,623 | 6,505 | 6,376 | 6,248 | 6,131 | 6,003 | 5,882 | 5,753 | 5,718 | 5,615 | 5,463 | 5,348 | 5,216 | 5,109 | 4,977 | 4,849 | 4,730 | 4,596 | 4,470 | 4,337 | 4,319 | 4,233 | 4,113 | 4,031 | 3,924 | 3,843 | 3,743 | 3,642 | 3,570 | 3,480 | 3,399 | 3,314 | 3,374 | 3,357 | 3,264 | 3,243 | 3,177 | 3,168 | 3,141 | 3,099 | 3,102 | 3,083 | 3,074 | 3,058 | 3,240 | 3,359 | 3,390 | 3,518 | 3,584 | 3,724 | 3,841 | 3,940 | 4,110 | 4,246 | 4,392 | 4,546 |
| Equity | $K | 1,867 | 1,734 | 1,602 | 6,455 | 6,313 | 6,171 | 6,027 | 5,887 | 5,749 | 5,607 | 5,469 | 5,332 | 5,161 | 4,995 | 4,832 | 4,667 | 4,508 | 4,344 | 4,176 | 4,010 | 3,846 | 3,676 | 3,516 | 3,357 | 3,172 | 2,998 | 2,830 | 2,657 | 2,489 | 2,325 | 2,154 | 1,998 | 1,847 | 1,687 | 1,544 | 1,398 | 1,203 | 1,029 | 862 | 686 | 535 | 392 | 231 | 94 | (35) | (178) | (299) | (413) | (568) | (688) | (795) | (915) | (1,004) | (1,081) | (1,180) | (1,237) | (1,290) | (1,362) | (1,389) | (1,404) |
| Share capital and premium | $K | 2,200 | 2,200 | 2,200 | 7,200 | 7,200 | 7,200 | 7,200 | 7,200 | 7,200 | 7,200 | 7,200 | 7,200 | 7,200 | 7,200 | 7,200 | 7,200 | 7,200 | 7,200 | 7,200 | 7,200 | 7,200 | 7,200 | 7,200 | 7,200 | 7,200 | 7,200 | 7,200 | 7,200 | 7,200 | 7,200 | 7,200 | 7,200 | 7,200 | 7,200 | 7,200 | 7,200 | 7,200 | 7,200 | 7,200 | 7,200 | 7,200 | 7,200 | 7,200 | 7,200 | 7,200 | 7,200 | 7,200 | 7,200 | 7,200 | 7,200 | 7,200 | 7,200 | 7,200 | 7,200 | 7,200 | 7,200 | 7,200 | 7,200 | 7,200 | 7,200 |
| Retained earnings | $K | (333) | (466) | (598) | (745) | (887) | (1,029) | (1,173) | (1,313) | (1,451) | (1,593) | (1,731) | (1,868) | (2,039) | (2,205) | (2,368) | (2,533) | (2,692) | (2,856) | (3,024) | (3,190) | (3,354) | (3,524) | (3,684) | (3,843) | (4,028) | (4,202) | (4,370) | (4,543) | (4,711) | (4,875) | (5,046) | (5,202) | (5,353) | (5,513) | (5,656) | (5,802) | (5,997) | (6,171) | (6,338) | (6,514) | (6,665) | (6,808) | (6,969) | (7,106) | (7,235) | (7,378) | (7,499) | (7,613) | (7,768) | (7,888) | (7,995) | (8,115) | (8,204) | (8,281) | (8,380) | (8,437) | (8,490) | (8,562) | (8,589) | (8,604) |
| Current liabilities | $K | 232 | 267 | 263 | 303 | 310 | 334 | 349 | 360 | 383 | 396 | 413 | 421 | 557 | 620 | 631 | 681 | 708 | 765 | 801 | 838 | 884 | 920 | 954 | 979 | 1,148 | 1,235 | 1,283 | 1,374 | 1,435 | 1,518 | 1,589 | 1,644 | 1,723 | 1,792 | 1,855 | 1,916 | 2,171 | 2,328 | 2,402 | 2,557 | 2,642 | 2,777 | 2,910 | 3,005 | 3,137 | 3,261 | 3,374 | 3,471 | 3,808 | 4,047 | 4,185 | 4,433 | 4,589 | 4,804 | 5,021 | 5,177 | 5,400 | 5,608 | 5,781 | 5,950 |
| Contract liabilities (deferred revenue) | $K | 58 | 73 | 87 | 100 | 117 | 133 | 149 | 164 | 178 | 192 | 206 | 219 | 303 | 341 | 377 | 413 | 451 | 488 | 524 | 559 | 593 | 626 | 659 | 692 | 812 | 883 | 952 | 1,019 | 1,089 | 1,157 | 1,223 | 1,288 | 1,353 | 1,416 | 1,479 | 1,541 | 1,713 | 1,834 | 1,951 | 2,066 | 2,183 | 2,298 | 2,412 | 2,523 | 2,634 | 2,744 | 2,853 | 2,963 | 3,215 | 3,413 | 3,606 | 3,795 | 3,987 | 4,175 | 4,362 | 4,547 | 4,731 | 4,915 | 5,098 | 5,282 |
| Accounts payable | $K | 174 | 194 | 176 | 203 | 193 | 201 | 200 | 197 | 205 | 204 | 207 | 202 | 255 | 278 | 253 | 269 | 257 | 277 | 277 | 280 | 291 | 293 | 295 | 288 | 336 | 351 | 331 | 356 | 347 | 361 | 366 | 355 | 370 | 377 | 377 | 375 | 458 | 494 | 450 | 491 | 459 | 478 | 498 | 482 | 502 | 517 | 520 | 508 | 593 | 635 | 579 | 638 | 602 | 629 | 659 | 630 | 669 | 693 | 683 | 668 |
Financing
Financing sources
| Y1 2026 | Y2 2027 | Y3 2028 | Y4 2029 | Y5 2030 | ||
|---|---|---|---|---|---|---|
| SAFE proceeds Cash received from SAFE rounds in the period. | $K | - | - | - | - | - |
| Equity proceeds Cash received from priced equity rounds in the period. | $K | 5,000 | - | - | - | - |
| Series A | $K | 5,000 | - | - | - | - |
| Convertible note proceeds Cash received from convertible notes in the period. | $K | - | - | - | - | - |
| Loan drawdowns New loan principal received in the period. | $K | - | - | - | - | - |
| Q1 Jan–Mar '26 | Q2 Apr–Jun '26 | Q3 Jul–Sep '26 | Q4 Oct–Dec '26 | Q5 Jan–Mar '27 | Q6 Apr–Jun '27 | Q7 Jul–Sep '27 | Q8 Oct–Dec '27 | Q9 Jan–Mar '28 | Q10 Apr–Jun '28 | Q11 Jul–Sep '28 | Q12 Oct–Dec '28 | Q13 Jan–Mar '29 | Q14 Apr–Jun '29 | Q15 Jul–Sep '29 | Q16 Oct–Dec '29 | Q17 Jan–Mar '30 | Q18 Apr–Jun '30 | Q19 Jul–Sep '30 | Q20 Oct–Dec '30 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| SAFE proceeds Cash received from SAFE rounds in the period. | $K | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Equity proceeds Cash received from priced equity rounds in the period. | $K | - | 5,000 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Series A | $K | - | 5,000 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Convertible note proceeds Cash received from convertible notes in the period. | $K | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Loan drawdowns New loan principal received in the period. | $K | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| M1 Jan '26 | M2 Feb '26 | M3 Mar '26 | M4 Apr '26 | M5 May '26 | M6 Jun '26 | M7 Jul '26 | M8 Aug '26 | M9 Sep '26 | M10 Oct '26 | M11 Nov '26 | M12 Dec '26 | M13 Jan '27 | M14 Feb '27 | M15 Mar '27 | M16 Apr '27 | M17 May '27 | M18 Jun '27 | M19 Jul '27 | M20 Aug '27 | M21 Sep '27 | M22 Oct '27 | M23 Nov '27 | M24 Dec '27 | M25 Jan '28 | M26 Feb '28 | M27 Mar '28 | M28 Apr '28 | M29 May '28 | M30 Jun '28 | M31 Jul '28 | M32 Aug '28 | M33 Sep '28 | M34 Oct '28 | M35 Nov '28 | M36 Dec '28 | M37 Jan '29 | M38 Feb '29 | M39 Mar '29 | M40 Apr '29 | M41 May '29 | M42 Jun '29 | M43 Jul '29 | M44 Aug '29 | M45 Sep '29 | M46 Oct '29 | M47 Nov '29 | M48 Dec '29 | M49 Jan '30 | M50 Feb '30 | M51 Mar '30 | M52 Apr '30 | M53 May '30 | M54 Jun '30 | M55 Jul '30 | M56 Aug '30 | M57 Sep '30 | M58 Oct '30 | M59 Nov '30 | M60 Dec '30 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| SAFE proceeds Cash received from SAFE rounds in the period. | $K | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Equity proceeds Cash received from priced equity rounds in the period. | $K | - | - | - | 5,000 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Series A | $K | - | - | - | 5,000 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Convertible note proceeds Cash received from convertible notes in the period. | $K | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Loan drawdowns New loan principal received in the period. | $K | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Equity schedule
| Y1 2026 | Y2 2027 | Y3 2028 | Y4 2029 | Y5 2030 | ||
|---|---|---|---|---|---|---|
| Equity issued | $K | 5,000 | - | - | - | - |
| Series A | $K | 5,000 | - | - | - | - |
| Q1 Jan–Mar '26 | Q2 Apr–Jun '26 | Q3 Jul–Sep '26 | Q4 Oct–Dec '26 | Q5 Jan–Mar '27 | Q6 Apr–Jun '27 | Q7 Jul–Sep '27 | Q8 Oct–Dec '27 | Q9 Jan–Mar '28 | Q10 Apr–Jun '28 | Q11 Jul–Sep '28 | Q12 Oct–Dec '28 | Q13 Jan–Mar '29 | Q14 Apr–Jun '29 | Q15 Jul–Sep '29 | Q16 Oct–Dec '29 | Q17 Jan–Mar '30 | Q18 Apr–Jun '30 | Q19 Jul–Sep '30 | Q20 Oct–Dec '30 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity issued | $K | - | 5,000 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Series A | $K | - | 5,000 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| M1 Jan '26 | M2 Feb '26 | M3 Mar '26 | M4 Apr '26 | M5 May '26 | M6 Jun '26 | M7 Jul '26 | M8 Aug '26 | M9 Sep '26 | M10 Oct '26 | M11 Nov '26 | M12 Dec '26 | M13 Jan '27 | M14 Feb '27 | M15 Mar '27 | M16 Apr '27 | M17 May '27 | M18 Jun '27 | M19 Jul '27 | M20 Aug '27 | M21 Sep '27 | M22 Oct '27 | M23 Nov '27 | M24 Dec '27 | M25 Jan '28 | M26 Feb '28 | M27 Mar '28 | M28 Apr '28 | M29 May '28 | M30 Jun '28 | M31 Jul '28 | M32 Aug '28 | M33 Sep '28 | M34 Oct '28 | M35 Nov '28 | M36 Dec '28 | M37 Jan '29 | M38 Feb '29 | M39 Mar '29 | M40 Apr '29 | M41 May '29 | M42 Jun '29 | M43 Jul '29 | M44 Aug '29 | M45 Sep '29 | M46 Oct '29 | M47 Nov '29 | M48 Dec '29 | M49 Jan '30 | M50 Feb '30 | M51 Mar '30 | M52 Apr '30 | M53 May '30 | M54 Jun '30 | M55 Jul '30 | M56 Aug '30 | M57 Sep '30 | M58 Oct '30 | M59 Nov '30 | M60 Dec '30 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity issued | $K | - | - | - | 5,000 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Series A | $K | - | - | - | 5,000 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Investor returns
Enterprise value:
Present value of the company's future free cash flows plus the discounted exit value.
$22,735K
Equity value:
Enterprise value minus net debt at exit. What shareholders own.
$27,952K
Terminal value:
The company's exit value, from the exit multiple or Gordon growth method.
$78,264K
Exit proceeds:
The investor's share of the exit value.
$19,566K
Ownership at exit:
The investor's stake after all planned rounds and conversions.
25.0%
Discount rate (WACC):
The rate used to discount future cash flows to present value.
25.0%
NPV:
Net present value of investor cash flows at the discount rate.
$1,770K
IRR:
Annualized internal rate of return on invested capital.
33.9%
MOIC:
Multiple on invested capital: total returned divided by total invested.
3.91x
Payback:
The first month the investor's cumulative cash flows turn positive.
Month 60
| Y1 2026 | Y2 2027 | Y3 2028 | Y4 2029 | Y5 2030 | ||
|---|---|---|---|---|---|---|
| Investments Cash the investor puts in, shown as an outflow. | $K | (5,000) | - | - | - | - |
| Dividends The investor's share of any dividends paid. | $K | - | - | - | - | - |
| Exit proceeds The investor's share of the exit value, received in the exit month. | $K | - | - | - | - | 19,566 |
| Investor net cash flow Investments plus dividends plus exit proceeds for the period. | $K | (5,000) | - | - | - | 19,566 |
| Investor cumulative cash flow Running total of net cash flow. Turns positive at payback. | $K | (5,000) | (5,000) | (5,000) | (5,000) | 14,566 |
| Investor discounted cash flow Net cash flow discounted to present value. These sum to NPV. | $K | (4,642) | - | - | - | 6,411 |
| Q1 Jan–Mar '26 | Q2 Apr–Jun '26 | Q3 Jul–Sep '26 | Q4 Oct–Dec '26 | Q5 Jan–Mar '27 | Q6 Apr–Jun '27 | Q7 Jul–Sep '27 | Q8 Oct–Dec '27 | Q9 Jan–Mar '28 | Q10 Apr–Jun '28 | Q11 Jul–Sep '28 | Q12 Oct–Dec '28 | Q13 Jan–Mar '29 | Q14 Apr–Jun '29 | Q15 Jul–Sep '29 | Q16 Oct–Dec '29 | Q17 Jan–Mar '30 | Q18 Apr–Jun '30 | Q19 Jul–Sep '30 | Q20 Oct–Dec '30 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Investments Cash the investor puts in, shown as an outflow. | $K | - | (5,000) | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Dividends The investor's share of any dividends paid. | $K | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Exit proceeds The investor's share of the exit value, received in the exit month. | $K | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 19,566 |
| Investor net cash flow Investments plus dividends plus exit proceeds for the period. | $K | - | (5,000) | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 19,566 |
| Investor cumulative cash flow Running total of net cash flow. Turns positive at payback. | $K | - | (5,000) | (5,000) | (5,000) | (5,000) | (5,000) | (5,000) | (5,000) | (5,000) | (5,000) | (5,000) | (5,000) | (5,000) | (5,000) | (5,000) | (5,000) | (5,000) | (5,000) | (5,000) | 14,566 |
| Investor discounted cash flow Net cash flow discounted to present value. These sum to NPV. | $K | - | (4,642) | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 6,411 |
| M1 Jan '26 | M2 Feb '26 | M3 Mar '26 | M4 Apr '26 | M5 May '26 | M6 Jun '26 | M7 Jul '26 | M8 Aug '26 | M9 Sep '26 | M10 Oct '26 | M11 Nov '26 | M12 Dec '26 | M13 Jan '27 | M14 Feb '27 | M15 Mar '27 | M16 Apr '27 | M17 May '27 | M18 Jun '27 | M19 Jul '27 | M20 Aug '27 | M21 Sep '27 | M22 Oct '27 | M23 Nov '27 | M24 Dec '27 | M25 Jan '28 | M26 Feb '28 | M27 Mar '28 | M28 Apr '28 | M29 May '28 | M30 Jun '28 | M31 Jul '28 | M32 Aug '28 | M33 Sep '28 | M34 Oct '28 | M35 Nov '28 | M36 Dec '28 | M37 Jan '29 | M38 Feb '29 | M39 Mar '29 | M40 Apr '29 | M41 May '29 | M42 Jun '29 | M43 Jul '29 | M44 Aug '29 | M45 Sep '29 | M46 Oct '29 | M47 Nov '29 | M48 Dec '29 | M49 Jan '30 | M50 Feb '30 | M51 Mar '30 | M52 Apr '30 | M53 May '30 | M54 Jun '30 | M55 Jul '30 | M56 Aug '30 | M57 Sep '30 | M58 Oct '30 | M59 Nov '30 | M60 Dec '30 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Investments Cash the investor puts in, shown as an outflow. | $K | - | - | - | (5,000) | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Dividends The investor's share of any dividends paid. | $K | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Exit proceeds The investor's share of the exit value, received in the exit month. | $K | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 19,566 |
| Investor net cash flow Investments plus dividends plus exit proceeds for the period. | $K | - | - | - | (5,000) | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 19,566 |
| Investor cumulative cash flow Running total of net cash flow. Turns positive at payback. | $K | - | - | - | (5,000) | (5,000) | (5,000) | (5,000) | (5,000) | (5,000) | (5,000) | (5,000) | (5,000) | (5,000) | (5,000) | (5,000) | (5,000) | (5,000) | (5,000) | (5,000) | (5,000) | (5,000) | (5,000) | (5,000) | (5,000) | (5,000) | (5,000) | (5,000) | (5,000) | (5,000) | (5,000) | (5,000) | (5,000) | (5,000) | (5,000) | (5,000) | (5,000) | (5,000) | (5,000) | (5,000) | (5,000) | (5,000) | (5,000) | (5,000) | (5,000) | (5,000) | (5,000) | (5,000) | (5,000) | (5,000) | (5,000) | (5,000) | (5,000) | (5,000) | (5,000) | (5,000) | (5,000) | (5,000) | (5,000) | (5,000) | 14,566 |
| Investor discounted cash flow Net cash flow discounted to present value. These sum to NPV. | $K | - | - | - | (4,642) | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 6,411 |
| NPV | Discount rate | |||||||
|---|---|---|---|---|---|---|---|---|
| 10% | 15% | 20% | 25% | 30% | 35% | 40% | ||
| Exit multiple | 1.0x | (3,831) | (3,962) | (4,050) | (4,107) | (4,142) | (4,160) | (4,166) |
| 2.0x | (2,819) | (3,151) | (3,395) | (3,573) | (3,703) | (3,797) | (3,863) | |
| 3.0x | (1,806) | (2,340) | (2,739) | (3,039) | (3,264) | (3,433) | (3,560) | |
| 4.0x | (794) | (1,530) | (2,084) | (2,504) | (2,825) | (3,070) | (3,257) | |
| 5.0x | 218 | (719) | (1,429) | (1,970) | (2,386) | (2,706) | (2,954) | |
| 6.0x | 1,231 | 91 | (774) | (1,436) | (1,946) | (2,342) | (2,651) | |
| 7.0x | 2,243 | 902 | (118) | (902) | (1,507) | (1,979) | (2,347) | |
| IRR | Exit year | |||||
|---|---|---|---|---|---|---|
| Year 1 | Year 2 | Year 3 | Year 4 | Year 5 | ||
| Exit multiple | 1.0x | -100% | -85% | -59% | -37% | -21% |
| 2.0x | -100% | -77% | -46% | -24% | -9% | |
| 3.0x | -99% | -71% | -38% | -15% | 0% | |
| 4.0x | -99% | -66% | -31% | -8% | 6% | |
| 5.0x | -98% | -61% | -25% | -3% | 11% | |
| 6.0x | -98% | -56% | -19% | 2% | 15% | |
| 7.0x | -97% | -52% | -14% | 7% | 19% | |
| MOIC | Investor share | |||||||
|---|---|---|---|---|---|---|---|---|
| 5% | 10% | 15% | 20% | 25% | 30% | 35% | ||
| Exit multiple | 1.0x | 0.1x | 0.1x | 0.2x | 0.3x | 0.3x | 0.4x | 0.5x |
| 2.0x | 0.1x | 0.3x | 0.4x | 0.5x | 0.7x | 0.8x | 0.9x | |
| 3.0x | 0.2x | 0.4x | 0.6x | 0.8x | 1.0x | 1.2x | 1.4x | |
| 4.0x | 0.3x | 0.5x | 0.8x | 1.0x | 1.3x | 1.6x | 1.8x | |
| 5.0x | 0.3x | 0.7x | 1.0x | 1.3x | 1.6x | 2.0x | 2.3x | |
| 6.0x | 0.4x | 0.8x | 1.2x | 1.6x | 2.0x | 2.3x | 2.7x | |
| 7.0x | 0.5x | 0.9x | 1.4x | 1.8x | 2.3x | 2.7x | 3.2x | |
Preview currently available only in Desktop
Build for free. Pay once when it's right
Free
to build and preview
- Full guided intake
- Unlimited input iterations
- Key metrics for all five years
- Charts and tables for Customers, Revenue, and Cash health
$0
USD
no card required
Pro
Everything in Free, plus
- Charts and tables for Team, Costs, Statements, Financing, and Investor returns
- Monthly and quarterly data views
- The complete 22-sheet spreadsheet export
- AI editing toolkit: prompt library, Claude skill, MCP server
$139
USD
one-time, per model
What makes Moddelix different
| Criteria |
|
Blank templates | Web tools | Hiring a pro |
|---|---|---|---|---|
| Price | Free $139 for Pro model | $119 to $500 | $20/month or $150+ once | From $2,000 |
| Experience needed | None | Excel and finance | Some | None |
| Time to build model | 20 minutes | 1–3 days | 1–3 hours | 7–14 days |
| Online model | Yes | –No | Yes | –No |
| Spreadsheet file | Yes | Yes | –No | Yes |
| See result before you pay | Yes | –No | –No | –No |
Why I built Moddelix
I read founders' models for years from the other side of the table. Some won the round. Some lost it in 90 seconds. Moddelix builds the first kind.
Frequently asked questions
Which business types does it support?
Moddelix currently supports the SaaS business model. Other types such as E-commerce, Marketplace, Services, F&B, Hotels, and more are coming in July 2026. Want to be first to know when yours is ready?
Is it a real model?
Yes. Moddelix generates a complete 22-sheet spreadsheet: a five-year monthly forecast with a linked income statement, balance sheet, and cash flow statement that always reconcile. You download the file, open it in Excel or Google Sheets, and it is yours to keep.
Is the Pro model a subscription?
No. Pro is a one-time payment of $139 per model, not a subscription. It unlocks the full online preview and the complete spreadsheet download.
Can't I just build this with ChatGPT?
ChatGPT can draft individual formulas, but it does not run a financial engine. Across a full five-year model its numbers stop reconciling, leaving you to audit every sheet by hand. Moddelix builds the entire model through one consistent engine, so your three statements tie out on the first pass and the file is ready to send, not repair.
Is my data secure?
Your data belongs to you. Moddelix uses your inputs solely to generate your model, never sells or shares them with third parties, and lets you permanently delete them from your account at any time.
What if my case is unusual?
If your business does not fully fit the guided questions, we can help. Contact us at hello@moddelix.com for one-on-one onboarding or a custom model.
