WGG_AGLE_Strategic_Financial_Model.xlsm

	A	B	C	D	E	F	G	H	I	J	K	L
1	WHITE GLOVE GAMING \| STRATEGIC FINANCIAL MODEL
2	Confidential \| WGG strategic growth engine \| July 2026

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4	INVESTMENT THESIS
5	White Glove Gaming is a premium iGaming operating partner combining strategic advisory, implementation, managed services, operational excellence, enterprise transformation, AI-powered delivery, proprietary technology, product development, partnerships and customer success. Investment accelerates the capability, proof and operating leverage that let WGG solve larger problems and win larger budgets. AGLE strengthens every layer and adds direct SaaS economics where appropriate.
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7	Funding ask	€1,800,000		Year 1 revenue	€1,800,000		Month	WGG revenue	AGLE revenue	Total revenue	Recurring EBITDA	Closing cash
8	Minimum close	€1,500,000		Year 2 revenue	€7,405,000		M1	-	-	-	(€104,100)	€1,685,900
9	Recurring break-even	Month 17		Year 2 AGLE revenue	€3,150,000		M2	€15,000	-	€15,000	(€118,800)	€1,566,100
10	AGLE exit ARR	€3,900,000		Active AGLE licences at M24	6		M3	€65,000	-	€65,000	(€139,550)	€1,455,550
11	Month 24 recurring revenue	€715,000		Active seats M22-M24	24		M4	€135,000	-	€135,000	(€138,500)	€1,366,050
12							M5	€180,000	-	€180,000	(€118,650)	€1,296,400
13	WHY €1.8M CREATES A MATERIALLY STRONGER WGG THAN €500K						M6	€185,000	-	€185,000	(€144,050)	€1,204,350
14	It matures WGG's product, AI, integration, assurance and delivery system so operators can buy a production-ready outcome, not sponsor an experiment.						M7	€170,000	-	€170,000	(€118,050)	€1,105,300
15	It turns founder relationships into a professional evidence-led commercial system: named accounts, strategic partners, solutioning, category proof and customer success.						M8	€185,000	-	€185,000	(€135,750)	€997,550
16	It funds parallel implementation, reusable IP and enterprise controls so WGG can accept larger mandates without diluting delivery quality.						M9	€195,000	-	€195,000	(€149,000)	€882,550
17	The model reaches recurring operating break-even in Month 17 without relying on advisory, implementation or AGLE setup fees.						M10	€230,000	-	€230,000	(€112,050)	€795,500
18	Year 2 includes four suitable WGG relationships adopting AGLE plus two direct/partner licences; every start is tied to a buying event, capability unlock and evidence gate.						M11	€245,000	-	€245,000	(€117,050)	€712,450
19							M12	€195,000	-	€195,000	(€114,200)	€602,250
20	24-MONTH COMPANY BUILD						M13	€245,000	€110,000	€355,000	(€99,300)	€918,950
21	Period	Commercial	Product	Team	Capital	Evidence gate	M14	€245,000	€140,000	€385,000	(€85,500)	€1,219,450
22	M1-M6	Two initial lighthouse/design-partner accounts, with further paid scopes entering delivery	Integration Fabric + Control Tower foundation	Founders + core product, solutions, GTM and delivery	Front-load product and enterprise access	Two lighthouse/design-partner accounts and working core	M15	€330,000	€60,000	€390,000	(€65,550)	€1,154,900
23	M7-M12	Four recurring WGG clients plus a fifth paid diagnostic; instrument repeatable workflows	Design-partner release, Growth Intelligence and Agent Studio beta	17 FTE by M12	Security, category evidence and implementation discipline	Client acceptance and AGLE production readiness	M16	€300,000	€270,000	€570,000	(€24,050)	€1,871,350
24	M13-M17	First three AGLE licences; WGG expansion	Paid modules, enterprise support and security controls	21 FTE by M16	Hold cost gates until conversion evidence	Recurring GP covers fixed opex in M17	M17	€340,000	€120,000	€460,000	€6,950	€1,801,300
25	M18-M24	Six active AGLE licences across six customers; partner-assisted scale	Scale modules, partner SDK and Assurance	24 active seats by M22, maintained through M24	Selective growth funded by revenue	€325k monthly recurring revenue equivalent and renewal/expansion evidence	M18	€335,000	€470,000	€805,000	€75,350	€3,059,150
26							M19	€355,000	€220,000	€575,000	€67,350	€2,958,500
27	Investment case driver	Current plan	Financial linkage	Management owner	Key risk	Operating response	M20	€415,000	€355,000	€770,000	€127,350	€3,367,850
28	Operator reason to choose WGG	Integrated operating accountability, iGaming depth, proprietary technology, enterprise trust and measurable customer outcomes.	Two initial lighthouse/design-partner accounts by M6; four recurring WGG clients by M12; eight cumulative WGG wins by M24	CEO + CCO	Early account concentration	Paid diagnostics, named-account pipeline and partner channels	M21	€410,000	€255,000	€665,000	€125,350	€3,287,200
29	Capability unlocked by €1.8M	Product maturity, AI and integration leverage, assurance, parallel delivery, customer success and commercial reach.	€1.8M base raise allocated across product, GTM, delivery, security and working capital	CEO	Spend precedes commercial evidence	Release spend against product, pipeline and customer-outcome gates	M22	€410,000	€500,000	€910,000	€167,500	€4,132,450
30	Month 17 recurring break-even	Contracted managed services plus AGLE licence gross profit cover fixed operating costs; one-time fees are excluded.	Month 16 (€24.05k); Month 17 €6.95k	CEO + Finance	Conversion or collection delay	Cost gates, annual prepayment and downside operating plan	M23	€480,000	€325,000	€805,000	€214,500	€4,070,950
31	Repeatable go-to-market	Named-account funnel, qualification criteria, paid land motion, account executives and strategic partners.	120 accounts, 36 qualified opportunities, eight cumulative WGG wins and six active AGLE licences	CCO	Founder-led pipeline concentration	Account executives, partner sourcing and weekly pipeline governance	M24	€390,000	€325,000	€715,000	€206,500	€3,947,450
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33	YEAR 3 STRATEGIC SCALE OUTLOOK
34	Year 3 total revenue	€12,500,000		Year 3 figures are illustrative and fall outside the 24-month base-case forecast.
35	Year 3 AGLE revenue	€7,500,000		Requires eight net-new licensed customers at €50k average MRR equivalent in Year 3.
36	Year 3 AGLE revenue share	60.0%		Requires six opening licensed customers to renew, adopt and expand.
37	Month 36 AGLE ARR	€8,700,000		Creates €8.7M exit ARR and €7.5M recognised AGLE revenue.
38	Month 36 AGLE licensed customers	14		Board chooses profitable scaling or Series A after Month 24 evidence.
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40	KEY MODEL OUTPUTS
41	Metric	Timing / definition	Current value	Calculation basis	Interpretation	Source
42	Recurring operating break-even	First non-negative recurring operating EBITDA	Month 17	Managed services and active AGLE licence gross profit less fixed opex	Month 17	Scenario Analysis
43	Month 16 recurring operating EBITDA	Recurring gross profit less fixed opex	(€24,050)	Managed services and active AGLE licences only	Below break-even	Financial Model
44	Month 17 recurring operating EBITDA	Recurring gross profit less fixed opex	€6,950	Managed services and active AGLE licences only	First positive month	Financial Model
45	Minimum closing cash balance	24-month base case	€602,250	Lowest month-end closing cash	Positive liquidity buffer	Financial Model
46	Month 24 closing cash	24-month base case	€3,947,450	Month-end closing cash	Base-case cash position	Financial Model
47	Contingency allocation	Use of funds	€150,000	Working capital and contingency	Capital reserve	Capital & Financing
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49	FOUNDER PAYROLL ASSUMPTION
50	Assumption	Timing	Current value	Calculation basis	Interpretation	Source
51	Founder monthly gross payroll	Month 1 onward	€27,000	Three founder gross salaries	€27,000 per month	Founder Payroll
52	Employer payroll burden	Month 1 onward	10.0%	Gross payroll × burden rate	Modelled separately at 10%	Opex Assumptions
53	Founder monthly total company cost	Month 1 onward	€29,700	Gross payroll plus employer burden	€29,700 per month	Founder Payroll
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