Financial Model · v3● Base Case · FY26 – FY31
From $405K to $50.0M in revenue.
A bottoms-up, fully audited 5-year plan covering revenue, growth, unit economics, P&L, cash flow and use of funds — sourced directly from the live operating model.
01 · Revenue Projections
Five revenue streams compounding into $50.0M by FY31.
Insurance new business, renewals, M&A acquired commissions, TPRM subscriptions and AI Risk Management revenue.
Revenue FY26
$405K
Revenue FY28
$6.0M
Revenue FY31
$50.0M
128× FY26
5-yr CAGR
162%
Revenue by stream (USD)
Stacked area — every figure ties to the financial model.
| Metric | FY26 | FY27 | FY28 | FY29 | FY30 | FY31 |
|---|---|---|---|---|---|---|
| Insurance NB | $239K | $897K | $2.0M | $3.9M | $7.5M | $12.7M |
| Insurance Renewals | $146K | $598K | $1.3M | $2.6M | $5.0M | $8.5M |
| M&A Commissions | $0 | $0 | $400K | $1.6M | $3.8M | $7.3M |
| TPRM Subscriptions | $0 | $344K | $1.9M | $4.7M | $9.6M | $17.6M |
| AI Risk Management | $0 | $69K | $292K | $804K | $1.9M | $3.9M |
| Total Revenue | $405K | $1.9M | $6.0M | $13.7M | $27.8M | $50.0M |
02 · Growth Metrics
Premium volume, clients and revenue scaling together.
Total GWP under management and the active client base driving it.
GWP FY31
$77.3M
35× FY26
Clients FY31
2,512
from 113
Renewal mix FY31
58.2%
of total GWP
Take-rate FY31
27.4%
blended
GWP under management
New business vs. renewals.
Active clients
Insurance clients onboarded each year.
| Metric | FY26 | FY27 | FY28 | FY29 | FY30 | FY31 |
|---|---|---|---|---|---|---|
| Total GWP | $2.2M | $8.0M | $16.3M | $28.9M | $50.0M | $77.3M |
| NB GWP | $1.4M | $6.3M | $9.9M | $15.1M | $23.9M | $32.4M |
| Renewal GWP | $834K | $1.7M | $6.4M | $13.8M | $26.0M | $45.0M |
| Active Clients | 113 | 453 | 805 | 1,243 | 1,867 | 2,512 |
| Total Revenue | $405K | $1.9M | $6.0M | $13.7M | $27.8M | $50.0M |
03 · Unit Economics
Healthy LTV/CAC and fast payback from year one.
Per-client revenue, take-rate, retention and acquisition economics — blended across all streams.
Revenue / Client FY31
$19K
from $3K
GWP / Client FY31
$31K
LTV / CAC FY31
50.0x
rule of thumb >3x
CAC Payback FY31
2.0 mo
from 7.0 mo
LTV / CAC and payback over time
| Metric | FY26 | FY27 | FY28 | FY29 | FY30 | FY31 |
|---|---|---|---|---|---|---|
| Revenue / Client | $3K | $4K | $7K | $11K | $14K | $19K |
| GWP / Client | $19K | $18K | $20K | $23K | $27K | $31K |
| Blended Take-Rate | 17.5% | 18.7% | 20.6% | 22.7% | 25.0% | 27.4% |
| Retention | 70.0% | 75.0% | 80.0% | 85.0% | 90.0% | 90.0% |
| LTV / CAC | 2.5x | 4.3x | 7.9x | 15.9x | 32.1x | 50.0x |
| CAC Payback (mo) | 7.0 | 5.6 | 4.4 | 3.3 | 2.6 | 2.0 |
04 · Financial Highlights
Operating leverage compounds into 52% EBITDA margin.
Consolidated P&L — Revenue, Gross Profit, EBITDA and Net Income.
Gross Margin FY31
74.7%
from 8.5% FY27
EBITDA FY31
$26.2M
EBITDA Margin FY31
52.4%
Net Income FY31
$17.0M
Revenue · EBITDA · Net Income
| Metric | FY26 | FY27 | FY28 | FY29 | FY30 | FY31 |
|---|---|---|---|---|---|---|
| Revenue | $405K | $1.9M | $6.0M | $13.7M | $27.8M | $50.0M |
| Cost of Revenue | $-84K | $-1.7M | $-3.2M | $-5.4M | $-8.5M | $-12.7M |
| Gross Profit | $301K | $161K | $2.7M | $8.3M | $19.2M | $37.4M |
| Gross Margin % | 37.6% | 8.5% | 45.7% | 60.7% | 69.3% | 74.7% |
| OPEX | $-18K | $-773K | $-1.8M | $-3.4M | $-6.5M | $-11.2M |
| EBITDA | $131K | $-612K | $963K | $4.9M | $12.8M | $26.2M |
| EBITDA Margin % | 34.0% | -32.1% | 16.1% | 35.7% | 45.9% | 52.4% |
| Net Income | $99K | $-618K | $622K | $3.2M | $8.3M | $17.0M |
05 · Cash Flow Overview
Cash positive from year one. $36.8M cumulative cash by FY31.
Net income + equity raises − M&A outflows = cumulative cash balance.
Cum. Cash FY26
$175K
Cum. Cash FY29
$18.0M
post Series A
Cum. Cash FY31
$36.8M
Total raised
$17.0M
Seed + Series A
Cumulative cash balance
| Metric | FY26 | FY27 | FY28 | FY29 | FY30 | FY31 |
|---|---|---|---|---|---|---|
| Net Income | $99K | $-618K | $622K | $3.2M | $8.3M | $17.0M |
| Equity Raised | $0 | $2.0M | $0 | $15.0M | $0 | $0 |
| M&A Outflows | $0 | $0 | $-732K | $-1.6M | $-2.7M | $-3.9M |
| Cumulative Cash | $175K | $1.6M | $1.4M | $18.0M | $23.6M | $36.8M |