Pro Forma Financial Statements

5-Year Income Statement

Is this a R5M or R50M net profit business? Let's find out.

⚙️ Key Assumptions — Adjust to Stress-Test

Addressable Agents (SA)

~40K registered practitioners (PPRA)

Proposals / Agent / Month

Avg Revenue / Proposal (R)

Blended across tiers

COGS / Proposal (R)

LLM + data API + infra

Y1 Penetration %

Y2 Penetration %

Y3 Penetration %

Y4 Penetration %

Y5 Penetration %

Founding Team (headcount)

Founders + early hires Y1

Avg Salary / Person / Mo (R)

Loaded cost incl. benefits

Marketing % of Revenue

Y1-Y2 heavy, then scales down

G&A / Overhead Mo (R)

Office, legal, accounting, insurance

Infra / Platform Mo (R)

Cloud, CI/CD, monitoring (fixed)

So, Is This a R5M or R50M Business?

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📊 Year 5 Key Metrics

Y5 Revenue

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Annual recurring

Y5 Gross Profit

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Y5 Net Income

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Y5 Paying Agents

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Active subscribers

5-Year Cumulative Profit

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Total net income over 5 years

Breakeven

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Month of first net profit

📈 Revenue vs Net Income — 5 Year Trajectory

📋 Full Income Statement (Pro Forma)

🎚️ Scenario Analysis — Pessimistic / Base / Optimistic

Pro forma projections · All figures in ZAR · March 2026
Assumes SA market only. International expansion not modelled. Tax rate 27% (SA corporate).
Confidential — For internal pitch preparation only