Income Statement
Click any number to view its source, formula, and editable upstream drivers
Scenario
Consolidated Income Statement
| FY2026 | FY2027 | FY2028 | FY2029 | FY2030 | |
|---|---|---|---|---|---|
| Revenue | |||||
| Music Revenue | 4,559,625 | 5,572,875 | 6,743,179 | 8,091,815 | 9,642,746 |
| Sponsorship Revenue | 10,422,000 | 12,738,000 | 15,412,980 | 18,495,576 | 22,040,561 |
| Data Revenue | - | - | - | - | - |
| Total Net Revenue | 14,981,625 | 18,310,875 | 22,156,159 | 26,587,391 | 31,683,307 |
| Cost of Revenue | |||||
| Music COR | (4,500,000) | (5,150,000) | (5,834,950) | (6,556,362) | (7,315,807) |
| Sponsorship COR | (4,500,000) | (5,150,000) | (5,834,950) | (6,556,362) | (7,315,807) |
| Data COR | - | - | - | - | - |
| Total Cost of Revenue | (9,000,000) | (10,300,000) | (11,669,900) | (13,112,724) | (14,631,615) |
| Gross Profit | 5,981,625 | 8,010,875 | 10,486,259 | 13,474,667 | 17,051,692 |
| Gross Margin | 39.9% | 43.7% | 47.3% | 50.7% | 53.8% |
| Operating Expenses | |||||
| Sales & Marketing | (476,295) | (603,834) | (786,686) | (790,974) | (814,704) |
| Product & Technology | (370,000) | (381,100) | (392,533) | (514,709) | (570,038) |
| Data Operations | (216,225) | (199,537) | (205,523) | (211,689) | (218,039) |
| General & Administrative | (986,410) | (1,183,867) | (1,317,191) | (1,343,574) | (1,383,881) |
| Other Operating Expenses | (170,000) | (175,100) | (180,353) | (185,764) | (191,336) |
| EBITDA | 3,762,695 | 5,467,437 | 7,603,973 | 10,427,957 | 13,873,694 |
| EBITDA Margin | 25.1% | 29.9% | 34.3% | 39.2% | 43.8% |
| Depreciation & Amortization | (186,000) | (511,500) | (759,500) | (811,000) | (704,500) |
| EBIT | 3,576,695 | 4,955,937 | 6,844,473 | 9,616,957 | 13,169,194 |
| EBIT Margin | 23.9% | 27.1% | 30.9% | 36.2% | 41.6% |
| Below the line | |||||
| Interest Expense — PIK on Pivot Convertible Debt | (1,000,000) | (1,100,000) | (1,210,000) | - | - |
| Pre-Tax Income | 2,576,695 | 3,855,937 | 5,634,473 | 9,616,957 | 13,169,194 |
| Tax Provision (cash) | (644,174) | (963,984) | (1,408,618) | (2,404,239) | (3,292,298) |
| Net Income | 1,932,521 | 2,891,953 | 4,225,855 | 7,212,718 | 9,876,895 |
| Memo — Personnel reconciliation (already allocated into opex above) | |||||
| Total Personnel Expense (memo) | (1,427,948) | (1,706,323) | (2,020,058) | (2,158,615) | (2,263,261) |
| → allocated to Cost of Revenue (Data) | (209,018) | (192,886) | (198,672) | (204,632) | (210,771) |
| → allocated to Sales & Marketing | (296,295) | (418,434) | (595,724) | (594,284) | (612,112) |
| → allocated to Product & Technology | - | - | - | (110,400) | (153,600) |
| → allocated to Data Operations | (216,225) | (199,537) | (205,523) | (211,689) | (218,039) |
| → allocated to G&A | (706,410) | (895,467) | (1,020,139) | (1,037,610) | (1,068,739) |
Revenue Build — full waterfall from schools to net revenue
| FY2026 | FY2027 | FY2028 | FY2029 | FY2030 | |
|---|---|---|---|---|---|
| Capacity | |||||
| Active Schools | 68 | 85 | 105 | 122 | 136 |
| Available Slots (mode) | 45,000 | 50,000 | 55,000 | 60,000 | 65,000 |
| Ramp Factor (blended) | 50.0% | 74.0% | 87.2% | 89.8% | 92.4% |
| Active Slots after ramp | 45,000 | 50,000 | 55,000 | 60,000 | 65,000 |
| Music | |||||
| Music Utilization | 30.0% | 30.0% | 30.0% | 30.0% | 30.0% |
| Sold Music Placements | 13,500 | 15,000 | 16,500 | 18,000 | 19,500 |
| Net Billable Music | 13,500 | 15,000 | 16,500 | 18,000 | 19,500 |
| Music Price / Placement | 350 | 385 | 424 | 466 | 512 |
| Gross Music Revenue | 4,725,000 | 5,775,000 | 6,987,750 | 8,385,300 | 9,992,483 |
| Net Music Revenue | 4,559,625 | 5,572,875 | 6,743,179 | 8,091,815 | 9,642,746 |
| Sponsorship | |||||
| Sponsorship Utilization | 30.0% | 30.0% | 30.0% | 30.0% | 30.0% |
| Sold Sponsorship Placements | 13,500 | 15,000 | 16,500 | 18,000 | 19,500 |
| Net Billable Sponsorship | 13,500 | 15,000 | 16,500 | 18,000 | 19,500 |
| Sponsorship Price / Placement | 800 | 880 | 968 | 1,065 | 1,171 |
| Gross Sponsorship Revenue | 10,800,000 | 13,200,000 | 15,972,000 | 19,166,400 | 22,839,960 |
| Net Sponsorship Revenue | 10,422,000 | 12,738,000 | 15,412,980 | 18,495,576 | 22,040,561 |
| Data | |||||
| Data Revenue | - | - | - | - | - |
| Total Net Revenue | 14,981,625 | 18,310,875 | 22,156,159 | 26,587,391 | 31,683,307 |
Click any number for its source & drivers. The Revenue Build waterfall shows every input from Master Inputs → Capacity → Utilization → Price → Net Revenue so you can see exactly what drives the top line.