- Ashley Black Experience has opened a new round on Wefunder at a valuation of $70M, up 40% from its previous crowdfunding round of $50M.
- This is a priced round, so all previous crowdfunding investors that invested in the convertible note in the last 2022 RegCF round can convert at the valuation cap of $50M (paper gain of 1.4X).
- Since the last crowdfunding raise, the company has increased revenue by over 66%, to $25.6M in 2022 from $15.37M in 2021.
- During this same time period, profit remained relatively flat, with $487,131 and $521,830 of net income in 2022 and 2021, respectively. Gross margins also remained relatively equal at ~60%.
- In terms of 2023 revenue, the company has not revealed any updated figures.
- However, between the January through March of 2024, the company averaged $1,484,688 per month in revenue. This gives us a 12-month revenue run rate of ~$17.8 million, which would be a ~30% decrease from the last reported revenue in 2022.
- However, the company is also running at a current net margin of $198,656 per month. If we annualize this, then the company will make a profit of ~$2.38 million in 2024 (not guaranteed, simply a rough projection based on monthly revenues/expenses).
- So while the company may experience a down year in revenue, the company is running more profitably than ever, which is a great sign.
