Sales Forecast Template

Copyright © PIPELIINE Business Schol. All rights reserved.

Disclaimer of Use: This is a legal disclaimer that I have to share. All it says is to use all templates developed by Global Influence LLC for
personal use. Without limiting the rights under copyright reserved above, no part of this publication may be reproduced or distributed for
commercial use. Only use licensed materials from Global Influence LLC. Take this template and customize it for your business, just don’t
share it outside your org or sell it to other people. To use this template to its maximum effect, take 5 minutes to follow the step by step
instructions below.

What's included:
This template includes the following tabs:

Instructions: instructions on how to use this template most effectively.

Growth Scenario Planner: a way to project high level growth rates and determine top of the funnel inputs required to achieve your
goals.

Sales Budget Summary: a summary view of your total sales budget, which includes headcount, tools, paid campaigns and comissions.

Sales Forecast Template: a template for how leads will flow through to your sales team, how they convert them into revenue and how
many reps you'll need to hire.
Growth Scenario Planner
Last 12 month starting date: 7/30/23

MRR & Revenue Based on Target Growth Rate

LTM Actuals Year 1 Year 2 Year 3 Year 4

Ending MRR
MRR from Trials $ 50,000 $ 210,000 $ 630,000 $ 1,260,000 $ 2,520,000
MRR from Sales $ 50,000 $ 90,000 $ 270,000 $ 540,000 $ 1,080,000
Total Ending MRR $ 100,000 $ 300,000 $ 900,000 $ 1,800,000 $ 3,600,000
% yoy total growth NA 200% 200% 100% 100%

% MRR Contribution
% MRR from Trials 50% 70% 70% 70% 70%
% MRR from Sales 50% 30% 30% 30% 30%

Annualized Revenue
Revenue from Trials $ 600,000 $ 2,520,000 $ 7,560,000 $ 15,120,000 $ 30,240,000
Revenue from Sales $ 600,000 $ 1,080,000 $ 3,240,000 $ 6,480,000 $ 12,960,000
Total Annualized Revenue $ 1,200,000 $ 3,600,000 ### ### ###

Blended Churn & Expansion Profile

LTM Actuals Year 1 Year 2 Year 3 Year 4
Reactivation rate 1% 1% 1% 1% 1%
Expansion rate 10% 10% 10% 10% 10%
Contraction rate (3%) (3%) (3%) (3%) (3%)
Churn rate (5%) (5%) (5%) (5%) (5%)

Beginning MRR $ 75,000 $ 100,000 $ 300,000 $ 900,000 $ 1,800,000

+ New Business MRR $ 22,750 $ 197,000 $ 591,000 $ 873,000 $ 1,746,000
+ Reactivation MRR $ 750 $ 1,000 $ 3,000 $ 9,000 $ 18,000
+ Expansion MRR $ 7,500 $ 10,000 $ 30,000 $ 90,000 $ 180,000
- Contraction MRR $ (2,250) $ (3,000) $ (9,000) $ (27,000) $ (54,000)
- Churn MRR $ (3,750) $ (5,000) $ (15,000) $ (45,000) $ (90,000)
Ending MRR $ 100,000 $ 300,000 $ 900,000 $ 1,800,000 $ 3,600,000

Total New Subscription Revenue Required $ 2,364,000 $ 7,092,000 ### ###

New Revenue Required from Trials

LTM Actuals Year 1 Year 2 Year 3 Year 4
New MRR from Trials $ 137,900 $ 413,700 $ 611,100 $ 1,222,200
Avg. MRR per Account $ 100 $ 100 $ 100 $ 100 $ 100
New Customer Accounts 1,379 4,137 6,111 12,222
% Trial to Paid Conversion 15% 15% 15% 15% 15%
Trials Required 9,193 27,580 40,740 81,480

New Revenue from Trials Required $ 1,654,800 $ 4,964,400 $ 7,333,200 ###

New Revenue Required from Sales

LTM Actuals Year 1 Year 2 Year 3 Year 4
MRR from Sales $ 59,100 $ 177,300 $ 261,900 $ 523,800
Avg. MRR per Sales Account $ 650 $ 650 $ 650 $ 650 $ 650
# of New Customer Accounts 91 273 403 806
SQL to Closed-Won Conversion Rate 30% 30% 30% 30% 30%
# of SQLs Required 303 909 1,343 2,686
MQLs to SQL Conversion Rate 30% 30% 30% 30% 30%
# of MQLs Required 1,010 3,031 4,477 8,954
SQL Pipeline MRR Value $ 197,000 $ 591,000 $ 873,000 $ 1,746,000
MQL Pipeline MRR Value $ 656,667 $ 1,970,000 $ 2,910,000 $ 5,820,000

Monthly Breakdown
# Leads per Rep per Month 67 67 67 67
Avg # of Deals Closed per Rep per Month 6 6 6 6 6
Expected Quota per Rep $ 3,900 $ 3,900 $ 3,900 $ 3,900 $ 3,900
# of Reps Required 2 4 6 12

New Revenue Required from Sales $ 709,200 $ 2,127,600 $ 3,142,800 $ 6,285,600

Estimated Sales & Marketing Budget

0 0 0 0 0
Total Annual Revenue $ 1,200,000 $ 3,600,000 $ 10,800,000 $ 21,600,000 $ 43,200,000
% Marketing Spend of Revenue 35.00% 35.00% 35.00% 35.00% 35.00%
Sales & Marketing Budget $ 420,000 $1,260,000 $3,780,000 $7,560,000 $15,120,000

Avg. Cost per Trial $ 50 $ 50 $ 50 $ 50 $ 50

Trials Needed 9,193 27,580 40,740 81,480
Trial Acquisition Budget Required $ 459,667 $ 1,379,000 $ 2,037,000 $ 4,074,000

Avg. Cost per MQL $ 150 $ 150 $ 150 $ 150 $ 150

MQLs Required 1,010 3,031 4,477 8,954
Lead Acquisition Budget Required $ 151,538 $ 454,615 $ 671,538 $ 1,343,077

Total Acquisition Budget Required $ 611,205 $ 1,833,615 $ 2,708,538 $ 5,417,077

Remaining Budget for Headcount $ 648,795 $ 1,946,385 $ 4,851,462 $ 9,702,923

Avg. Headcount Cost $ 100,000 $ 100,000 $ 100,000 $ 100,000 $ 100,000

Total Potential Headcount 6 19 48 97
Remaining Budget for Tools $ 48,795 $ 46,385 $ 51,462 $ 2,923

Avg. Annual Tool Cost per Head $ 5,000 $ 5,000 $ 5,000 $ 5,000 $ 5,000
Total Tool Cost $ 30,000 $ 95,000 $ 240,000 $ 485,000
 Year 5

$ 5,040,000 <- Start with your last twelve month (LTM) MRR.
$ 2,160,000
$ 7,200,000
100% <- Layer in your target annual growth goals.

70% <- Assume forward MRR contribution based on your revenue sources (Prospecting Strategies).
30%

$ 60,480,000
$ 25,920,000
###

Year 5
1% <- If you only measure churn and expansion rates, put 0 here.
10%
(3%) <- If you only measure churn and expansion rates, put 0 here.
(5%)

$ 3,600,000
$ 3,492,000 <- This is a calculation to determine how much new business is required.
$ 36,000
$ 360,000
$ (108,000)
$ (180,000)
$ 7,200,000

### <- MRR from row 31 multiplied by 12.

Year 5
$ 2,444,400
$ 100
24,444
15%
162,960

###

Year 5
$ 1,047,600
$ 650
1,612
30%
5,372
30%
17,908
$ 3,492,000
$ 11,640,000
 67
6
$ 3,900
23

###

0
$ 86,400,000
35.00% <- Benchmark Data below for sales and marketing spend as a % of revenue:
$30,240,000 Insight Partners - 30% of Revenue Spent on S&M
OpenView - 44% of Revenue Spent on S&M for Series B with $15M ARR
$ 50 ForEntrepreneurs - 36% of Revenue Spent on S&M
162,960 Tom Tungz - Broad range of % based on growth rates
$ 8,148,000

$ 150
17,908
$ 2,686,154

$ 10,834,154
$ 19,405,846

$ 100,000
194
$ 5,846

$ 5,000
$ 970,000
Sales Budget Summary
Sales Budget Jan-24 Feb-24 Mar-24 Apr-24 May-24 Jun-24 Jul-24 Aug-24
Full-Time Personnel
VP of Sales and Marketing (included in Mark $0 $0 $0 $0 $0 $0 $0 $0
Sales Managers $9,083 $9,083 $9,083 $9,083 $9,083 $9,083 $9,083 $9,083
Account Executives $23,333 $23,333 $17,500 $23,333 $23,333 $17,500 $23,333 $23,333
Business Development Reps $13,750 $13,750 $13,750 $13,750 $13,750 $13,750 $13,750 $13,750
Sales Commissions $9,029 $9,195 $7,915 $9,567 $9,776 $8,544 $10,247 $10,512
Travel, Meals & Entertainment $0 $0 $0 $0 $0 $0 $0 $0
Benefits & Taxes $10,083 $10,083 $10,083 $10,083 $10,083 $10,083 $10,083 $10,083
Total $65,279 $65,445 $58,332 $65,817 $66,026 $58,960 $66,497 $66,762

Agency/Freelancer Personnel
Outsourced BDR Agency $5,000 $5,000 $5,000 $5,000 $5,000 $5,000 $5,000 $5,000
Copywriter $0 $0 $0 $0 $0 $0 $0 $0
Total $5,000 $5,000 $5,000 $5,000 $5,000 $5,000 $5,000 $5,000

Tools
Hubspot CRM $1,667 $1,667 $1,667 $1,667 $1,667 $1,667 $1,667 $1,667
Linkedin Sales Navigator $92 $92 $92 $92 $92 $92 $92 $92
Zoominfo $2,500 $2,500 $2,500 $2,500 $2,500 $2,500 $2,500 $2,500
Outreach $1,250 $1,250 $1,250 $1,250 $1,250 $1,250 $1,250 $1,250
Gong $1,250 $1,250 $1,250 $1,250 $1,250 $1,250 $1,250 $1,250
Sendoso $833 $833 $833 $833 $833 $833 $833 $833
Zoom $167 $167 $167 $167 $167 $167 $167 $167
Total $7,758 $7,758 $7,758 $7,758 $7,758 $7,758 $7,758 $7,758

Paid Campaigns
Sendoso Gift Spend $833 $833 $833 $833 $833 $833 $833 $833
Total $833 $833 $833 $833 $833 $833 $833 $833
Total Sales Budget $78,871 $79,036 $71,924 $79,409 $79,618 $72,552 $80,088 $80,353
 ACTUALS FORECAST
Sep-24 Oct-24 Nov-24 Dec-24 Jan-25 Feb-25 Mar-25 Apr-25 May-25 Jun-25 Jul-25

$0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
$9,083 $9,083 $9,083 $9,083 $9,083 $9,083 $9,083 $9,083 $9,083 $9,083 $9,083
$23,333 $23,333 $23,333 $23,333 $29,167 $29,167 $29,167 $29,167 $29,167 $29,167 $29,167
$13,750 $13,750 $13,750 $13,750 $13,750 $13,750 $13,750 $13,750 $13,750 $13,750 $13,750
$10,799 $11,110 $11,447 $11,813 $13,669 $13,669 $13,669 $13,669 $13,669 $13,669 $13,669
$0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
$10,083 $10,083 $10,083 $10,083 $10,083 $10,083 $10,083 $10,083 $10,083 $10,083 $10,083
$67,049 $67,360 $67,697 $68,063 $75,752 $75,752 $75,752 $75,752 $75,752 $75,752 $75,752

$5,000 $5,000 $5,000 $5,000 $5,000 $5,000 $5,000 $5,000 $5,000 $5,000 $5,000
$0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
$5,000 $5,000 $5,000 $5,000 $5,000 $5,000 $5,000 $5,000 $5,000 $5,000 $5,000

$1,667 $1,667 $1,667 $1,667 $1,667 $1,667 $1,667 $1,667 $1,667 $1,667 $1,667
$92 $92 $92 $92 $92 $92 $92 $92 $92 $92 $92
$2,500 $2,500 $2,500 $2,500 $2,500 $2,500 $2,500 $2,500 $2,500 $2,500 $2,500
$1,250 $1,250 $1,250 $1,250 $1,250 $1,250 $1,250 $1,250 $1,250 $1,250 $1,250
$1,250 $1,250 $1,250 $1,250 $1,250 $1,250 $1,250 $1,250 $1,250 $1,250 $1,250
$833 $833 $833 $833 $833 $833 $833 $833 $833 $833 $833
$167 $167 $167 $167 $167 $167 $167 $167 $167 $167 $167
$7,758 $7,758 $7,758 $7,758 $7,758 $7,758 $7,758 $7,758 $7,758 $7,758 $7,758

$833 $833 $833 $833 $833 $833 $833 $833 $833 $833 $833
$833 $833 $833 $833 $833 $833 $833 $833 $833 $833 $833
$80,640 $80,952 $81,289 $81,655 $89,344 $89,344 $89,344 $89,344 $89,344 $89,344 $89,344
Aug-25 Sep-25 Oct-25 Nov-25 Dec-25

$0 $0 $0 $0 $0
$9,083 $9,083 $9,083 $9,083 $9,083
$29,167 $29,167 $29,167 $29,167 $29,167
$13,750 $13,750 $13,750 $13,750 $13,750
$13,669 $13,669 $13,669 $13,669 $13,669
$0 $0 $0 $0 $0
$10,083 $10,083 $10,083 $10,083 $10,083
$75,752 $75,752 $75,752 $75,752 $75,752

$5,000 $5,000 $5,000 $5,000 $5,000

$0 $0 $0 $0 $0
$5,000 $5,000 $5,000 $5,000 $5,000

$1,667 $1,667 $1,667 $1,667 $1,667

$92 $92 $92 $92 $92
$2,500 $2,500 $2,500 $2,500 $2,500
$1,250 $1,250 $1,250 $1,250 $1,250
$1,250 $1,250 $1,250 $1,250 $1,250
$833 $833 $833 $833 $833
$167 $167 $167 $167 $167
$7,758 $7,758 $7,758 $7,758 $7,758

$833 $833 $833 $833 $833

$833 $833 $833 $833 $833
$89,344 $89,344 $89,344 $89,344 $89,344
Sales Forecast Template
MRR from Trials Jan-24 Feb-24 Mar-24 Apr-24 May-24 Jun-24 Jul-24 Aug-24

MRR from Trials

Trials 2,133 2,235 2,345 2,463 2,590 2,726 2,873 3,031
% Conversion to Paid 12% 12% 12% 12% 12% 12% 12% 12%
# of New Accounts from Trials 256 269 282 296 311 328 345 364
Avg. MRR per New Account from Trials $ 60 $ 60 $ 60 $ 60 $ 60 $ 60 $ 60 $ 60
Total New MRR from Trials $ 15,360 $ 16,140 $ 16,920 $ 17,760 $ 18,660 $ 19,680 $ 20,700 $ 21,840
% trials growth 5% 5% 5% 5% 5% 5% 6%

MRR from Sales Jan-24 Feb-24 Mar-24 Apr-24 May-24 Jun-24 Jul-24 Aug-24

Total MQLs
Contact Sales (Inbounds) 22 23 25 26 28 29 31 34
Product Qualified Leads (PQLs) 107 112 117 123 129 136 144 152
Sales Sourced (Target Accounts) 0 0 0 0 0 0 0 0
Total MQLs 129 135 142 149 157 166 175 185

MQL > SQL Conversion

Contact Sales (Inbounds) 50% 50% 50% 50% 50% 50% 50% 50%
Product Qualified Leads (PQLs) 30% 30% 30% 30% 30% 30% 30% 30%
Sales Sourced (Target Accounts) 20% 20% 20% 20% 20% 20% 20% 20%

Total SQLs
Contact Sales (Inbounds) 11 12 12 13 14 15 16 17
Product Qualified Leads (PQLs) 32 34 35 37 39 41 43 45
Sales Sourced (Target Accounts) 0 0 0 0 0 0 0 0
Total SQLs 43 45 47 50 53 56 59 62

SQL > Closed-Won Conversion

Contact Sales (Inbounds) 30% 30% 30% 30% 30% 30% 30% 30%
 Product Qualified Leads (PQLs) 35% 35% 35% 35% 35% 35% 35% 35%
Sales Sourced (Target Accounts) 25% 25% 25% 25% 25% 25% 25% 25%

Total Closed-Won Accounts

Contact Sales (Inbounds) 3 3 4 4 4 4 5 5
Product Qualified Leads (PQLs) 11 12 12 13 14 14 15 16
Sales Sourced (Target Accounts) 0 0 0 0 0 0 0 0
Total Closed-Won Accounts 15 16 16 17 18 19 20 21

Average MRR by Source

Contact Sales (Inbounds) $1,200 $1,200 $1,200 $1,200 $1,200 $1,200 $1,200 $1,200
Product Qualified Leads (PQLs) $600 $600 $600 $600 $600 $600 $600 $600
Sales Sourced (Target Accounts) $1,800 $1,800 $1,800 $1,800 $1,800 $1,800 $1,800 $1,800
Average MRR $710 $700 $738 $732 $730 $731 $736 $743

Total MRR from Leads

Contact Sales (Inbounds) $3,933 $4,164 $4,415 $4,688 $4,985 $5,309 $5,662 $6,048
Product Qualified Leads (PQLs) $6,719 $7,041 $7,387 $7,758 $8,157 $8,587 $9,049 $9,547
Sales Sourced (Target Accounts) $0 $0 $0 $0 $0 $0 $0 $0
Total MRR from Sales $10,652 $11,205 $11,801 $12,446 $13,142 $13,896 $14,712 $15,595

TOTALS - Sales
New Accounts from Sales 15 16 16 17 18 19 20 21
Average MRR per New Sales Closed Accoun $710 $700 $738 $732 $730 $731 $736 $743
MRR from Sales $10,652 $11,205 $11,801 $12,446 $13,142 $13,896 $14,712 $15,595
check TRUE TRUE TRUE TRUE TRUE TRUE TRUE TRUE

Sales Headcount & Productivity Jan-24 Feb-24 Mar-24 Apr-24 May-24 Jun-24 Jul-24 Aug-24

Account Executives (AEs)

Starting AEs 3 4 4 3 4 4 3 4
New 1 0 0 1 0 0 1 0
Churn 0 0 (1) 0 0 (1) 0 0
AE Ending AEs 4 4 3 4 4 3 4 4
Ramp
0% 0% Ramped After Month 1 1 0 0 1 0 0 1 0
25% 25% Ramped After Month 2 1 0 0 1 0 0 1
50% 50% Ramped After Month 3 1 0 0 1 0 0
### 100% Ramped After Month 4 3 4 3 3 4 3 3 4
Total Ramped AEs 3.0 4.3 3.5 3.0 4.3 3.5 3.0 4.3

Total MRR from Sales $10,652 $11,205 $11,801 $12,446 $13,142 $13,896 $14,712 $15,595
MRR Closed Per AE $3,551 $2,636 $3,372 $4,149 $3,092 $3,970 $4,904 $3,669
# Deals Closed Per AE 5.0 3.8 4.6 5.7 4.2 5.4 6.7 4.9
Monthly Quota per AE (MRR) $5,000 $5,000 $5,000 $5,000 $5,000 $5,000 $5,000 $5,000
Average Quota Attainment 71% 53% 67% 83% 62% 79% 98% 73%
Annual Quota per AE (MRR) $60,000 $60,000 $60,000 $60,000 $60,000 $60,000 $60,000 $60,000
Annual Quota per AE (ARR) $720,000 $720,000 $720,000 $720,000 $720,000 $720,000 $720,000 $720,000
AE
CompSalary, Commission & Benefits
### Base Salaries $23,333 $23,333 $17,500 $23,333 $23,333 $17,500 $23,333 $23,333
10% Variable Commission (paid on billings = M $12,783 $13,446 $14,161 $14,935 $15,771 $16,675 $17,654 $18,714
25% Benefits & Taxes (assumed 25% of salary $9,029 $9,195 $7,915 $9,567 $9,776 $8,544 $10,247 $10,512
Total Salary, Commission & Benefits $45,145 $45,974 $39,577 $47,835 $48,880 $42,719 $51,234 $52,559
Annual Billings Generated / Comp Paid Rati 2.8x 2.9x 3.6x 3.1x 3.2x 3.9x 3.4x 3.6x
 ACTUALS FORECAST
Sep-24 Oct-24 Nov-24 Dec-24 Jan-25 Feb-25 Mar-25 Apr-25 May-25 Jun-25 Jul-25 Aug-25

3,201 3,385 3,583 3,797 4,028 4,277 4,547 4,839 5,154 5,496 5,867 6,268
12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12% 12%
385 407 430 456 484 514 546 581 619 660 705 753
$ 60 $ 60 $ 60 $ 60 $ 60 $ 60 $ 60 $ 60 $ 60 $ 60 $ 60 $ 60
$ 23,100 $ 24,420 $ 25,800 $ 27,360 $ 29,040 $ 30,840 $ 32,760 $ 34,860 $ 37,140 $ 39,600 $ 42,300 $ 45,180
6% 6% 6% 6% 6% 6% 6% 7% 7% 7% 7%

Sep-24 Oct-24 Nov-24 Dec-24 Jan-25 Feb-25 Mar-25 Apr-25 May-25 Jun-25 Jul-25 Aug-25

36 38 41 44 48 51 55 60 64 69 75 81
160 169 179 190 201 214 227 242 258 275 293 313
0 0 0 0 0 0 0 0 0 0 0 0
196 208 220 234 249 265 283 301 322 344 368 395

50% 50% 50% 50% 50% 50% 50% 50% 50% 50% 50% 50%
30% 30% 30% 30% 30% 30% 30% 30% 30% 30% 30% 30%
20% 20% 20% 20% 20% 20% 20% 20% 20% 20% 20% 20%

18 19 21 22 24 26 28 30 32 35 38 41
48 51 54 57 60 64 68 73 77 82 88 94
0 0 0 0 0 0 0 0 0 0 0 0
66 70 74 79 84 90 96 102 109 117 126 135

30% 30% 30% 30% 30% 30% 30% 30% 30% 30% 30% 30%
 35% 35% 35% 35% 35% 35% 35% 35% 35% 35% 35% 35%
25% 25% 25% 25% 25% 25% 25% 25% 25% 25% 25% 25%

5 6 6 7 7 8 8 9 10 10 11 12
17 18 19 20 21 22 24 25 27 29 31 33
0 0 0 0 0 0 0 0 0 0 0 0
23 24 25 27 29 31 33 35 37 40 43 46

$1,200 $1,200 $1,200 $1,200 $1,200 $1,200 $1,200 $1,200 $1,200 $1,200 $1,200 $1,200
$600 $600 $600 $600 $600 $600 $600 $600 $600 $600 $600 $600
$1,800 $1,800 $1,800 $1,800 $1,800 $1,800 $1,800 $1,800 $1,800 $1,800 $1,800 $1,800
$720 $733 $749 $738 $733 $732 $735 $742 $752 $745 $744 $747

$6,468 $6,927 $7,427 $7,974 $8,571 $9,224 $9,937 $10,717 $11,570 $12,502 $13,523 $14,640
$10,084 $10,662 $11,286 $11,960 $12,687 $13,473 $14,322 $15,242 $16,236 $17,313 $18,480 $19,745
$0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
$16,552 $17,589 $18,713 $19,934 $21,258 $22,697 $24,260 $25,959 $27,806 $29,816 $32,003 $34,384

23 24 25 27 29 31 33 35 37 40 43 46
$720 $733 $749 $738 $733 $732 $735 $742 $752 $745 $744 $747
$16,552 $17,589 $18,713 $19,934 $21,258 $22,697 $24,260 $25,959 $27,806 $29,816 $32,003 $34,384
TRUE TRUE TRUE TRUE TRUE TRUE TRUE TRUE TRUE TRUE TRUE TRUE

Sep-24 Oct-24 Nov-24 Dec-24 Jan-25 Feb-25 Mar-25 Apr-25 May-25 Jun-25 Jul-25 Aug-25

4 4 4 4 4 5 5 4 5 5 4 5
0 0 0 0 1 0 0 1 0 0 1 0
0 0 0 0 0 0 (1) 0 0 (1) 0 0
4 4 4 4 5 5 4 5 5 4 5 5
 0 0 0 0 1 0 0 1 0 0 1 0
0 0 0 0 1 0 0 1 0 0 1
1 0 0 0 1 0 0 1 0 0
4 4 4 4 4 5 4 4 5 4 4 5
4.5 4.0 4.0 4.0 4.0 5.3 4.5 4.0 5.3 4.5 4.0 5.3

$16,552 $17,589 $18,713 $19,934 $21,258 $22,697 $24,260 $25,959 $27,806 $29,816 $32,003 $34,384
$3,678 $4,397 $4,678 $4,983 $5,315 $4,323 $5,391 $6,490 $5,296 $6,626 $8,001 $6,549
5.1 6.0 6.3 6.8 7.3 5.9 7.3 8.8 7.0 8.9 10.8 8.8
$5,000 $5,000 $5,000 $5,000 $5,000 $5,000 $5,000 $5,000 $5,000 $5,000 $5,000 $5,000
74% 88% 94% 100% 106% 86% 108% 130% 106% 133% 160% 131%
$60,000 $60,000 $60,000 $60,000 $60,000 $60,000 $60,000 $60,000 $60,000 $60,000 $60,000 $60,000
$720,000 $720,000 $720,000 $720,000 $720,000 $720,000 $720,000 $720,000 $720,000 $720,000 $720,000 $720,000

$23,333 $23,333 $23,333 $23,333 $29,167 $29,167 $23,333 $29,167 $29,167 $23,333 $29,167 $29,167
$19,862 $21,106 $22,456 $23,920 $25,510 $27,236 $29,112 $31,150 $33,367 $35,779 $38,404 $41,261
$10,799 $11,110 $11,447 $11,813 $13,669 $14,101 $13,111 $15,079 $15,633 $14,778 $16,893 $17,607
$53,994 $55,550 $57,237 $59,067 $68,346 $70,503 $65,556 $75,396 $78,167 $73,890 $84,463 $88,035
3.7x 3.8x 3.9x 4.0x 3.7x 3.9x 4.4x 4.1x 4.3x 4.8x 4.5x 4.7x
 Sep-25 Oct-25 Nov-25 Dec-25

6,704 7,176 7,688 8,245

12% 12% 12% 12%
805 862 923 990
$ 60 $ 60 $ 60 $ 60
$ 48,300 $ 51,720 $ 55,380 $ 59,400
7% 7% 7% 7%

Sep-25 Oct-25 Nov-25 Dec-25

88 96 104 113
335 359 384 412
0 0 0 0
423 454 488 525

50% 50% 50% 50%

30% 30% 30% 30%
20% 20% 20% 20%

44 48 52 56
101 108 115 124
0 0 0 0
145 155 167 180

30% 30% 30% 30%

 35% 35% 35% 35%
25% 25% 25% 25%

13 14 16 17
35 38 40 43
0 0 0 0
49 53 56 61

$1,200 $1,200 $1,200 $1,200

$600 $600 $600 $600
$1,800 $1,800 $1,800 $1,800
$755 $751 $766 $758

$15,862 $17,201 $18,666 $20,271

$21,116 $22,604 $24,219 $25,972
$0 $0 $0 $0
$36,978 $39,804 $42,885 $46,244

49 53 56 61
$755 $751 $766 $758
$36,978 $39,804 $42,885 $46,244
TRUE TRUE TRUE TRUE

Sep-25 Oct-25 Nov-25 Dec-25

5 5 5 5
0 0 0 0
0 0 0 0
5 5 5 5
 0 0 0 0
0 0 0 0
1 0 0 0
5 5 5 5
5.5 5.0 5.0 5.0

$36,978 $39,804 $42,885 $46,244

$6,723 $7,961 $8,577 $9,249
8.9 10.6 11.2 12.2
$5,000 $5,000 $5,000 $5,000
134% 159% 172% 185%
$60,000 $60,000 $60,000 $60,000
$720,000 $720,000 $720,000 $720,000

$29,167 $29,167 $29,167 $29,167

$44,374 $47,765 $51,462 $55,492
$18,385 $19,233 $20,157 $21,165
$91,926 $96,165 $100,785 $105,824
4.8x 5.0x 5.1x 5.2x