ABCDEFGHIJKLMNOPQRSTUVWXYZAAABACADAEAFAGAHAIAJ
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19202122232425262728293031323334353637383940414243
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Customers number
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INDIAGrowth rateAverage # of PhotosPriceJul-24Aug-24Sep-24Oct-24Nov-24Dec-24Jan-25Feb-25Mar-25Apr-25May-25Jun-25Growth rateJul-25Aug-25Sep-25Oct-25Nov-25Dec-25Jan-26Feb-26Mar-26Apr-26May-26Jun-26FY 2025FY 2026
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Enterprise (> 250 Cr)13%2250011111112222343%45555556666646
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17%4500122223344567131%1313141414141414141414151315
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Mid market (50 - 250 Cr)13%150021011101113151719212427451%4546464747484849495050514551
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Long tail ( 5 - 50 Cr)29%750311112234568223%2323242526272829303132332233
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SMB0750300000000000029%112234568101321021
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TOTAL CUSTOMERS14161416192125293338458587899193959710010310711111512685126
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GLOBALGrowth rateAverage # of PhotosPriceJul-24Aug-24Sep-24Oct-24Nov-24Dec-24Jan-25Feb-25Mar-25Apr-25May-25Jun-25Growth rateJul-25Aug-25Sep-25Oct-25Nov-25Dec-25Jan-26Feb-26Mar-26Apr-26May-26Jun-26FY 2025FY 2026
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Enterprise (> 250 Cr)0%3000020000000000000%00000000000000
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0%7500200000000000022%1112233456811011
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Mid market (50 - 250 Cr)0%3000400000000000021%1112233455710010
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Long tail ( 5 - 50 Cr)30%150060000000122346%44455566677747
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SMB0%150060000000000000%00000000000000
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TOTAL CUSTOMERS0000000122346778911121416182128428
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REVENUE INDIARealisationJul-24Aug-24Sep-24Oct-24Nov-24Dec-24Jan-25Feb-25Mar-25Apr-25May-25Jun-25RealisationJul-25Aug-25Sep-25Oct-25Nov-25Dec-25Jan-26Feb-26Mar-26Apr-26May-26Jun-26FY 2025FY 2026
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Enterprise (> 250 Cr)11%$52,687$59,497$96,75020%$100,075$103,514$107,071$110,751$114,557$118,494$122,566$126,778$131,135$135,642$140,303$145,125$208,934$1,456,013
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11%$32,471$38,000$71,28020%$71,848$72,421$72,999$73,581$74,168$74,759$75,355$75,956$76,562$77,172$77,788$78,408$71,280$0
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Mid market (50 - 250 Cr)11%$72,175$81,819$135,12020%$136,453$137,799$139,158$140,530$141,917$143,316$144,730$146,158$147,599$149,055$150,525$152,010$135,120
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Long tail ( 5 - 50 Cr)11%$13,640$17,644$49,41020%$51,108$52,864$54,681$56,560$58,504$60,515$62,594$64,745$66,970$69,272$71,653$74,115$49,410$0
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11%$0$0$020%$2,250$2,901$3,739$4,820$6,214$8,011$10,327$13,313$17,162$22,124$28,521$47,399
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TOTAL REVENUE$2,400$2,400$2,400$6,000$6,000$6,000$12,000$12,000$12,000$18,807$21,666$38,782$72,347$73,900$75,530$77,249$79,072$81,019$83,115$85,390$87,886$90,653$93,758$99,411$464,744$1,456,013
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REVENUE GLOBALRealisationJul-24Aug-24Sep-24Oct-24Nov-24Dec-24Jan-25Feb-25Mar-25Apr-25May-25Jun-25RealisationJul-25Aug-25Sep-25Oct-25Nov-25Dec-25Jan-26Feb-26Mar-26Apr-26May-26Jun-26FY 2025FY 2026
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Enterprise (> 250 Cr)5%$0$0$0$0$0$0$0$0$0$0$0$015%$0$0$0$0$0$0$0$0$0$0$0$0$0$0
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5%$0$0$0$0$0$0$0$0$0$0$0$015%$18,000$22,022$26,943$32,964$40,330$49,342$60,367$73,856$90,360$110,551$135,255$202,455$0$862,445
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Mid market (50 - 250 Cr)5%$0$0$0$0$0$0$0$0$0$0$0$015%$12,000$14,488$17,492$21,120$25,499$30,786$37,170$44,877$54,183$65,418$78,983$115,134$0$517,150
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Long tail ( 5 - 50 Cr)5%$0$0$0$0$0$0$0$0$0$18,000$27,000$33,68115%$35,684$37,806$40,054$42,436$44,959$47,632$50,465$53,465$56,645$60,013$63,582$67,362$78,681$600,102
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5%$0$0$0$0$0$0$0$0$0$0$0$015%$0$0$0$0$0$0$0$0$0$0$0$0$0$0
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TOTAL REVENUE$0$0$0$0$0$0$0$0$0$900$1,350$1,684$9,853$11,147$12,673$14,478$16,618$19,164$22,200$25,830$30,178$35,397$41,673$57,743$78,681$1,979,697
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Total Rev (India plus Global)$2,400$2,400$2,400$6,000$6,000$6,000$12,000$12,000$12,000$19,707$23,016$40,466$82,199$85,047$88,203$91,726$95,690$100,183$105,315$111,220$118,064$126,050$135,431$157,154$485,588$1,885,847
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Costs
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COGSJul-24Aug-24Sep-24Oct-24Nov-24Dec-24Jan-25Feb-25Mar-25Apr-25May-25Jun-25Jul-25Aug-25Sep-25Oct-25Nov-25Dec-25Jan-26Feb-26Mar-26Apr-26May-26Jun-26FY 2025FY 2026
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Technology Costs (Servers, DB etc)$200$200$200$500$500$500$1,000$1,000$1,000$1,744$2,063$4,136$4,304$4,429$4,560$4,699$4,847$5,004$5,174$5,356$5,555$5,772$6,011$6,417$13,043$62,127
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Experimentation & Model Training Costs (servers, DB)
4 months compute hours of H100 (33$ per hour)
$95,040.00$5,280$5,280$5,280$5,280$5,280$5,280$5,280$5,280$5,280$5,280$5,280$5,280$5,280$5,280$5,280$5,280$5,280$5,280$5,280$5,280$5,280$5,280$5,280$5,280$63,360$63,360
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Professional Services$0$0$2,000$0$0$0$2,000$2,000$0$2,000$2,000$2,000$2,000$2,000$2,000$2,000$2,000$2,000$2,000$2,000$2,000$2,000$2,000$2,000$12,000$24,000
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Total Cost of Sales$5,480$5,480$7,480$5,780$5,780$5,780$8,280$8,280$6,280$9,024$9,343$11,416$11,584$11,709$11,840$11,979$12,127$12,284$12,454$12,636$12,835$13,052$13,291$13,697$88,403$149,487
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EMPLOYMENT COSTSJul-24Aug-24Sep-24Oct-24Nov-24Dec-24Jan-25Feb-25Mar-25Apr-25May-25Jun-25Jul-25Aug-25Sep-25Oct-25Nov-25Dec-25Jan-26Feb-26Mar-26Apr-26May-26Jun-26
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Salaries$18,900$18,900$18,900$26,400$28,900$29,700$33,400$33,400$35,900$35,900$35,900$35,900$42,205$42,895$42,895$42,895$42,895$45,770$52,440$52,440$52,440$52,440$52,440$55,315
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National insurance (tax)$80$80$80$130$140$150$180$180$190$190$190$190$190$200$210$210$210$210$220$250$250$250$250$250
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Sales Bonus$0$0$1,000$1,500$1,500$1,500$1,500$1,500$1,500$1,500$1,500$1,500$1,500$1,500$1,500$1,500$1,500$2,000$2,000$2,000$0$0$0$0
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Other Benefits$2,835$2,835$2,835$3,960$4,335$4,455$5,010$5,010$5,385$5,385$5,385$5,385$6,331$6,434$6,434$6,434$6,434$6,866$7,866$7,866$7,866$7,866$7,866$8,297
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One-off employment costs$0$0$0$0$0$0$0$0$0$3,000$3,000$3,000$0$3,000$0$3,000$3,000$0$0$0$0$0$0$0
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Total Employment Costs$21,815$21,815$22,815$31,990$34,875$35,805$40,090$40,090$42,975$45,975$45,975$45,975$50,226$54,029$51,039$54,039$54,039$54,846$62,526$62,556$60,556$60,556$60,556$63,862
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MARKETINGJul-24Aug-24Sep-24Oct-24Nov-24Dec-24Jan-25Feb-25Mar-25Apr-25May-25Jun-25Jul-25Aug-25Sep-25Oct-25Nov-25Dec-25Jan-26Feb-26Mar-26Apr-26May-26Jun-26
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SEO/SEM$120$120$120$300$300$300$600$600$600$940$867$1,551$2,894$2,956$3,021$3,090$3,163$3,241$3,325$3,416$3,515$3,626$3,750$3,976
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Content Marketing$120$120$120$300$300$300$600$600$600$940$867$1,551$2,894$2,956$3,021$3,090$3,163$3,241$3,325$3,416$3,515$3,626$3,750$3,976
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Misc$12$12$12$30$30$30$60$60$60$94$87$155$289$296$302$309$316$324$332$342$352$363$375$398
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Total Marketing costs$252$252$252$630$630$630$1,260$1,260$1,260$1,975$1,820$3,258$6,077$6,208$6,344$6,489$6,642$6,806$6,982$7,173$7,382$7,615$7,876$8,351
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GENERAL & ADMIN COSTSJul-24Aug-24Sep-24Oct-24Nov-24Dec-24Jan-25Feb-25Mar-25Apr-25May-25Jun-25Jul-25Aug-25Sep-25Oct-25Nov-25Dec-25Jan-26Feb-26Mar-26Apr-26May-26Jun-26
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Hardware (laptops, mobiles etc)$8,000$0$0$5,000$1,000$1,000$3,000$0$1,000$0$0$0$1,000$1,000$0$0$0$1,000$3,000$0$0$0$0$1,000
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Rent ($200/seat)$0$1,600$1,600$2,600$2,800$3,000$3,600$3,600$3,800$3,800$3,800$3,800$4,000$4,200$4,200$2,205$2,205$2,310$2,625$2,625$2,625$2,625$2,625$2,730
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Legal and Accounts$2,000$1,000$1,000$1,000$1,000$1,000$1,000$1,000$1,000$1,000$1,000$1,000$1,000$1,000$1,000$1,000$1,000$1,000$1,000$1,000$1,000$1,000$1,000$1,000
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Accounting and Tax Services$100$100$100$100$100$100$100$100$100$200$200$200$200$200$200$200$200$200$200$200$200$200$200$200
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Softwares (CRM, CMS, Hosting)$0$0$100$100$100$100$100$200$200$200$200$200$200$200$200$200$400$400$400$400$400$400$400$400
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Admin Costs$500$500$500$500$700$750$900$900$950$950$950$950$1,500$1,575$1,575$1,575$1,575$1,650$1,875$1,875$1,875$1,875$1,875$1,950
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Travel (Sales and service)$1,000$1,000$1,000$1,000$2,000$2,000$2,000$2,000$2,000$2,100$2,100$2,100$3,000$3,000$3,000$3,000$3,000$3,500$3,500$3,500$3,500$3,500$3,500$3,500
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Misc$400$400$800$800$1,000$1,000$1,000$1,000$2,000$2,000$3,000$5,000$5,000$5,000$6,000$6,000$6,000$10,000$10,000$12,000$12,000$12,000$12,000$12,000
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Total General & Admin Costs$12,000$4,600$5,100$11,100$8,700$8,950$11,700$8,800$11,050$10,250$11,250$13,250$15,900$16,175$16,175$14,180$14,380$20,060$22,600$21,600$21,600$21,600$21,600$22,780
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TOTAL COSTS$39,547$32,147$35,647$49,500$49,985$51,165$61,330$58,430$61,565$67,224$68,388$73,899$83,787$88,121$85,399$86,687$87,188$93,996$104,561$103,965$102,373$102,822$103,322$108,690
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Net Income
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Jul-24Aug-24Sep-24Oct-24Nov-24Dec-24Jan-25Feb-25Mar-25Apr-25May-25Jun-25Jul-25Aug-25Sep-25Oct-25Nov-25Dec-25Jan-26Feb-26Mar-26Apr-26May-26Jun-26
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Total Income$2,400$2,400$2,400$6,000$6,000$6,000$12,000$12,000$12,000$18,807$21,666$38,782$72,347$73,900$75,530$77,249$79,072$81,019$83,115$85,390$87,886$90,653$93,758$99,411
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Total COGS$5,480$5,480$7,480$5,780$5,780$5,780$8,280$8,280$6,280$9,024$9,343$11,416$11,584$11,709$11,840$11,979$12,127$12,284$12,454$12,636$12,835$13,052$13,291$13,697
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Gross profit-$3,080-$3,080-$5,080$220$220$220$3,720$3,720$5,720$9,783$12,322$27,366$60,763$62,191$63,690$65,270$66,945$68,735$70,661$72,754$75,051$77,602$80,467$85,714
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Gross margin-128%-128%-212%4%4%4%31%31%48%52%57%71%84%84%84%84%85%85%85%85%85%86%86%86%
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Total Employment Costs$21,815$21,815$22,815$31,990$34,875$35,805$40,090$40,090$42,975$45,975$45,975$45,975$50,226$54,029$51,039$54,039$54,039$54,846$62,526$62,556$60,556$60,556$60,556$63,862
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Total Marketing Costs$252$252$252$630$630$630$1,260$1,260$1,260$1,975$1,820$3,258$6,077$6,208$6,344$6,489$6,642$6,806$6,982$7,173$7,382$7,615$7,876$8,351
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Total General & Admin Costs$12,000$4,600$5,100$11,100$8,700$8,950$11,700$8,800$11,050$10,250$11,250$13,250$15,900$16,175$16,175$14,180$14,380$20,060$22,600$21,600$21,600$21,600$21,600$22,780
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EBITDA-$37,147-$29,747-$33,247-$43,500-$43,985-$45,165-$49,330-$46,430-$49,565-$48,417-$46,723-$35,117-$11,440-$14,221-$9,869-$9,439-$8,116-$12,977-$21,447-$18,575-$14,487-$12,169-$9,564-$9,279
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EBITDA - % Margin-1548%-1239%-1385%-725%-733%-753%-411%-387%-413%-257%-216%-91%-16%-19%-13%-12%-10%-16%-26%-22%-16%-13%-10%-9%