iLobby Financial Model

Physical facility access management for security-sensitive, compliance-heavy industries. Core platform: Visitor Management (sign-in, ID scanning, watchlist checks, badge printing, emergency evacuation). Add-on modules launched FY2020–FY2021:

• iLobby Delivers (mail/package management, Feb 2020)
• COVID-19 Workflows (pre-screening questionnaire, Apr 2020)
• Touchless Sign-In (mobile-based sign-in, Jun 2020)
• FeverCheck (contactless temperature at sign-in, Jul 2020)
• FaceMatch (facial verification / bypass, Sep 2020)
• Employee Pass Mobile App (daily sign-in/out, door locking, Oct 2020)

Differentiators: multi-platform kiosk support (iOS, Android, Windows), one-stop-shop (iLobby owns and ships hardware), white-glove enterprise support, watchlist integrations (ITAR, C-TPAT), SOC-2 / GDPR / FISMA compliant.

Bottom-up TAM analysis (enterprise tier only, full entry-point penetration at current pricing, CAD/USD 1.32):

Notes: Company count sourced from S&P Capital IQ; entry points per company are management estimates. Companies <1,000 employees excluded.

Growth rate of market: Not quantified in deck. Qualitative commentary: "Increasing importance of EVM in a post-COVID world is driving accelerated adoption."

Subscription SaaS per entry point per month, three tiers:

• Corporate: US$199 / entry point / month
• Enhanced: US$275 / entry point / month
• Enterprise: US$499 / entry point / month

Three packages referenced in slide 5; mapping to the above three price points is - likely Corporate = entry-level, Enhanced = mid, Enterprise = full-featured.

Hardware: iLobby owns the hardware and provides it as part of the solution (all-inclusive / one-stop-shop). Revenue treatment (bundled in subscription vs. separate HW revenue) not stated.: Hardware cost embedded in subscription margin or a one-time setup fee.

Channels: Direct sales (4 new sales hires in FY2020); VAR/reseller model identified as a growth lever but not yet the primary channel.

• 700+ clients
• 2,500+ entry points deployed globally
• 45 countries
• 35+ languages
• 52% CAGR in Logos from FY2018–FY2020
• 239 new customers added in FY2020; key adds: Comcast, Concord Foods, Labatt Brewing, Vancouver Fraser Port Authority
• Fiscal year end: July 31
• Original Visitor Management release: FY2018; most recent platform update: January 2020

Revenue, ARR, MRR, EBITDA, churn, NRR: Not in deck. This CIP appears to be a teaser; detailed financials would be in a separate dataroom package.

Implied ARPA (rough sanity check using deck data - tagged):

• 700 clients, 2,500 entry points → ~3.6 entry points per client on average
• At blended price ~US$275/entry/month × 3.6 × 12 ≈ US$11,900 ARPA/year per client
• At enterprise tier (US$499): ~US$21,500/year per client

Named competitors implied via comparison matrix (slide 9): positioned against office-focused EVM players (SMB/mid-market). iLobby wins on:

• Robust suite of functions
• Scalable SaaS platform
• Wide-ranging platform integrations
• Cutting-edge features
• Focused on industrial/commercial sectors less impacted by COVID (vs. office-first competitors)

Moat claims:

• High switching costs for large enterprise (organizational complexity, integration depth)
• Owns hardware - controls procurement and deployment
• Regulatory integrations (ITAR, C-TPAT, government watchlists) are expensive to replicate
• 25+ years of security expertise (founding team heritage)

CEO: Ariel Mashiyev - joined August 2017, led restructuring. Awards: 2019 OBAA Young Entrepreneur of the Year; 2018 Startup Canada Ontario Region High-Growth Entrepreneurship.

Founding/prior team: Security industry veterans (25+ years of security experience referenced).

Transaction: RBC Capital Markets engaged as sole financial advisor for potential share sale. No specific raise amount, use of funds, or valuation disclosed in this CIP.

• Archetype + why: SaaS ARR / entry-point subscription model with 3-statement build.
• Revenue unit is the entry point (not seat, not user), billed monthly. Three pricing tiers drive blended ARPA.
• Hardware component needs a treatment (capex owned by iLobby, depreciated, or bundled in subscription COGS).
• This is a growth equity / strategic sale process (CIP via RBC), so the model should reflect a buyer/investor perspective: LTM actuals + 3–5 year forecast with EBITDA bridge and exit multiple.

• Forecast horizon & granularity: Monthly for Year 1–2; quarterly/annual for Years 3–5. FY end July 31.

• Key drivers & assumptions:

| Driver | Value | Source | | -- | -- | -- | | Entry points at period start | 2,500 | - | | Logo count at period start | 700 | - | | Logo CAGR (FY2018–FY2020) | 52% | - | | Avg entry points / logo | ~3.6 | - | | Blended price / entry point / month | US$263–499 (3 tiers) | - | | New logo growth rate (forecast) | 30–40% | - | | Net revenue retention / upsell | ~110–120% | - | | Gross margin % | 65–75% | - | | Hardware cost per entry point | : ~US$500–800 one-time, capitalized | iLobby owns hardware - amortized over contract term | | Sales headcount growth | 4 added in FY2020 | ; further expansion in forecast | | CAC payback period | 18–24 months | - | | Churn rate (logo) | 5–8% annually | - |

• Scenarios (Base / Bull / Bear - which variables flex):
• Base: Logo growth 30% YoY, blended ASP stable, NRR 110%, GM 70%
• Bull: Logo growth 50% (COVID tailwind extends), add-on penetration drives NRR to 120%, gross margin expansion to 75%
• Bear: Logo growth 15% (competition intensifies, macro slowdown), churn rises to 10%, hardware costs squeeze GM to 60%
• Flex variables: new logo growth rate, blended ASP / tier mix, NRR, hardware cost per entry point, sales efficiency (magic number)

• Required sheets / outputs:

1. Assumptions - all drivers in one editable block
2. Revenue Build - logo cohorts × avg entry points × blended price → MRR/ARR by tier; expansion from add-ons
3. Income Statement - Revenue, COGS (SaaS hosting + hardware depreciation), Gross Profit, S&M, R&D, G&A, EBITDA
4. Balance Sheet - simplified; focus on hardware asset balance (PP&E), deferred revenue, working capital
5. Cash Flow Statement - OpCF, capex (hardware procurement), FCF
6. KPI Dashboard - ARR, logo count, entry points, ARPA, NRR, LTV:CAC, EBITDA margin
7. Valuation / Exit - ARR multiple range (e.g. 8–15×) → equity value; sensitivity table (ARR × multiple)