Demo

2015 Percent of Revenue by Industry 7.0% 1.2% 0.9%
8.9%
Real Estate
Other
Healthcare
Franchise & Direct Sellers
Insurance & Financial Services
82.0%


Top 20 Core Revenue Enterprise Customer Concentration - 2015
Customer
Customer 1
Customer 2
Customer 3
Customer 4
Customer 5
Customer 6
Customer 7
Customer 8
Customer 9
Customer 10
% of Revenue Tenure
14.2% 10
5.3% 5
4.7% 14
4.1% 14
3.0% 6
2.7% 11
2.6% 6
2.5% 5
2.4% 10
2.3% 6
Customer
Customer
Customer
Customer
Customer
Customer
Customer
Customer
Customer
Customer
Customer
Total
11
12
13
14
15
16
17
18
19
20
% of Revenue Tenure
2.1% 11
2.1% 6
1.8% 9
1.5% 3
1.5% 10
1.4% 9
1.2% 10
1.2% 2
1.2% 4
1.1% 10
58.9%
















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Historical and Projected Financial Performance
For the Fiscal Years Ended and Ending December 31, 2013 - 2020P
($ in 000s)
Total Revenue
% Growth
Gross Profit (excl. D&A)
EBITDA $10,976 CAPEX $1,811
2016E
$58,773
7.4%
$27,942 $15,056 $2,393
47.5% 25.6% 4.1%
As a % of Total Revenue: Gross Margin
EBITDA
CAPEX
Source: Management
42.8% 22.4% 3.7%
2013
$49,108
2014
$52,000
5.9%
$22,712 $12,006 $2,315
43.7% 23.1% 4.5%
2015
$54,707
5.2%
$25,510 $13,949 $3,818
46.6% 25.5% 7.0%
2017P
$66,803
13.7%
$31,677 $17,200 $2,950
47.4% 25.7% 4.4%
2018P
$76,332
14.3%
$36,384 $19,760 $3,255
47.7% 25.9% 4.3%
2019P
$87,480
14.6%
$42,111 $22,852 $3,825
48.1% 26.1% 4.4%
2020P
$100,309
14.7%
$48,544 $26,438 $4,215
48.4% 26.4% 4.2%
$21,003




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Historical and Projected Cost of Goods Sold
For the Years 2013-2020P
($ in 000s)
Total Revenue COGS (excl. D&A)
Gross Profit
As a % of Total Revenue: COGS (excl. D&A) Gross Margin
(1)
2013
$49,108 $28,105
$21,003
57.2% 42.8%
2014
$52,000 $29,288
$22,712
56.3% 43.7%
2015
$54,707 $29,197
$25,510
53.4% 46.6%
2017P
$66,803 $35,126
$31,677
52.6% 47.4%
2018P
$76,332 $39,949
$36,384
52.3% 47.7%
2019P
$87,480 $45,369
$42,111
51.9% 48.1%
2020P
$100,309 $51,765
$48,544
51.6% 48.4%
2016E
$58,773 $30,830
$27,942
52.5% 47.5%
Source: Management
(1) COGSexcludesDepreciation&Amortizationexpenses.


Historical and Projected Operating Expenses
For the Years 2013-2020P
($ in 000s)
Total Revenue
Operating Expenses: General & Administrative Development
Sales & Marketing
Total Operating Expenses
As a % of Total Revenue: General & Administrative Development
Sales & Marketing
Total Operating Expenses
(1)
2013
$49,108
$3,612 1,350 5,066
$10,028
7.4%
2.7% 10.3%
20.4%
2014
$52,000
$3,557 1,713 5,481
$10,751
6.8%
3.3% 10.5%
20.7%
2015
$54,707
$3,777 1,868 5,919
$11,564
6.9%
3.4% 10.8%
21.1%
2017P
$66,803
$4,084 2,443 7,950
$14,477
6.1%
3.7% 11.9%
21.7%
2018P
$76,332
$4,497 2,616 9,510
$16,623
5.9%
3.4% 12.5%
21.8%
2019P
$87,480
$5,020 3,119 11,119
$19,259
5.7%
3.6% 12.7%
22.0%
2020P
$100,309
$5,607 3,691 12,808
$22,106
5.6%
3.7% 12.8%
22.0%
2016E
$58,773
$3,825 2,015 7,051
$12,891
6.5%
3.4% 12.0%
21.9%
Source: Management
(1) All Operating Expenses are shown exclusive of Depreciation & Amortization


Historical and Projected Capital Expenditures
For the Years 2013-2020P
($ in 000s)
Total Revenue
2013
$49,108
2014 2015
$52,000 $54,707
2017P 2018P
$66,803 $76,332
$1,700 $1,800 675 800 550 630
15 15 10 10
$2,950 $3,255
4.4% 4.3%
2019P
$87,480
$1,900 1,200 700 15 10
$3,825
4.4%
2020P
$100,309
$2,000 1,300 790 115 10
$4,215
4.2%
2016E
$58,773
$1,618 200 500 65 10
$2,393
4.1%
CAPEX
Capitalized Development Costs
Equipment 399
Software & Computers 246 628 415
$1,024 Other 13
$1,350 $1,345 229 2,007
Leasehold Improvements Total CAPEX
As a % of Total Revenue
Source: Management
68 10 130 40 42
$1,811 $2,315 $3,818
3.7% 4.5% 7.0%