Curtiss Motorcycle

Curtiss Motorcycle

Early Stage

Future American Motorcycle Leadership

Overview

Raised to Date: Raised: $175,160

Total Commitments ($USD)

Platform

Wefunder

Start Date

12/20/2023

Close Date

05/29/2024

Min. Goal
$50,000
Max. Goal
$4,312,579
Min. Investment

$1,000

Security Type

Equity - Common

Series

Series A

SEC Filing Type

RegCF    Open SEC Filing

Price Per Share

$0.06

Pre-Money Valuation

$5,629,368

Rolling Commitments ($USD)

Status

Active

Reporting Date

05/26/2024

Days Remaining

2

% of Min. Goal

350%

% of Max. Goal

4%

Likelihood of Max
unlikely
Avg. Daily Raise

$1,109

# of Investors

85

Momentum
cold.svg
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Year Founded

2018

Industry

Transportation, Automotive, Aviation, & Aerospace

Tech Sector

Hardwaretech

Distribution Model

B2C

Margin

Medium

Capital Intensity

High

Location

Leeds, Alabama

Business Type

Growth

Curtiss Motorcycle, with a valuation of $5.6 million, is raising funds on Wefunder. The company claims to be the first and only luxury brand in the motorcycle space. Curtiss Motorcycle’s patent-protected Axis-centered Design is the key to their motorcycles, which they state is modular, radically scalable and will be used on every future Curtiss motorcycle. H Matthew Chambers and Jordan Cornille founded Curtiss Motorcycle in May 2005. The current crowdfunding campaign has a minimum target of $50,000.04 and a maximum target of $4.3 million. The campaign proceeds will be used for complete testing, tuning, validation, and certification of The 1 by Curtiss, production inventory, apparel inventory, and digital marketing.

Summary Profit and Loss Statement

FY 2022 FY 2021

Revenue

$0

$0

COGS

$0

$0

Tax

$0

$0

 

 

Net Income

$-1,253,725

$-693,355

Summary Balance Sheet

FY 2022 FY 2021

Cash

$11,077

$531,123

Accounts Receivable

$0

$0

Total Assets

$600,998

$3,731,003

Short-Term Debt

$737,530

$3,510,978

Long-Term Debt

$938,043

$713,141

Total Liabilities

$1,675,573

$4,224,119

Financials as of: 12/20/2023
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Raise History

Offering Name Close Date Platform Valuation/Cap Total Raised Security Type Status Reg Type
Curtiss Motorcycle 05/28/2024 Wefunder $5,629,368 $175,160 Equity - Common Active RegCF
Curtiss Motorcycle 07/28/2023 Wefunder $7,300,000 $156,334 Equity - Common Funded RegCF
Curtiss Motorcycle 05/23/2023 Dealmaker Securities $10,393,204 $458,452 Equity - Common Funded RegCF
Curtiss Motorcycle 07/29/2021 Wefunder $13,900,000 $1,017,471 Equity - Common Funded RegCF
Curtiss Motorcycle 07/29/2019 Wefunder $11,600,000 $443,086 Equity - Common Funded RegCF
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Price per Share History

Note: Share prices shown in earlier rounds may not be indicative of any stock splits.

Valuation History

Revenue History

Note: Revenue data points reflect the latest of either the most recent fiscal year's financials, or updated revenues directly from the founder, at each raise's close date.

Employee History

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Analyst Report

Synopsis

Curtiss Motorcycle positions itself as a pioneer in the electric motorcycle segment, aiming to redefine luxury in the motorcycle industry. Focusing on innovation and design, Curtiss Motorcycle has developed a patent-protected Axis-centered Design, a modular and scalable architecture that underpins all its future motorcycles. This design philosophy not only sets Curtiss apart in terms of aesthetics but also in functionality, promising a unique riding experience that is both luxurious and environmentally friendly.

The electric vehicle (EV) market is witnessing exponential growth, driven by a global shift towards sustainable transportation solutions. Within this burgeoning sector, electric motorcycles represent a niche yet rapidly expanding market, with increasing consumer demand for greener, more efficient modes of personal transport. Curtiss Motorcycle aims to capture this demand by offering premium electric motorcycles that combine performance, luxury, and sustainability. The company's commitment to environmental impact investing aligns with the growing consumer preference for eco-friendly products, further enhancing its market appeal.

The proceeds from the current crowdfunding campaign on Wefunder are earmarked for critical development milestones, including the completion of testing, tuning, validation, and certification of The 1 by Curtiss, as well as for production inventory, apparel inventory, and digital marketing efforts. This strategic allocation of funds is designed to accelerate the company's transition from the development phase to market entry, enabling it to capitalize on the growing demand for electric motorcycles.

Founded in May 2005 by H Matthew Chambers and Jordan Cornille, Curtiss Motorcycle has a long-term vision of future American motorcycle leadership. With a pre-money valuation of $5.6 million, the company seeks to raise between $50,000 and $4.3 million to propel its vision forward. As the electric motorcycle market continues to evolve, Curtiss Motorcycle's innovative approach and commitment to luxury and sustainability position it as a potential leader.

Next Section: Price

Price

Curtiss Motorcycle is raising funds at a pre-money valuation of $5.6 million on Wefunder, offering its shares at $0.06 each. This valuation places Curtiss Motorcycle in the early-stage category, where the company is still pre-revenue and focuses on completing testing, tuning, validation, and certification of its first product, The 1 by Curtiss. As a pre-revenue company in the luxury electric motorcycle space, Curtiss Motorcycle's valuation is speculative and largely based on its potential to capture a niche within the burgeoning electric vehicle market.

Curtiss Motorcycle's business case is validated by comparing it to LiveWire, which has a market valuation of over $2 billion and virtually no sales. However, investors should approach such comparisons with caution. Market valuations can be highly volatile, especially in emerging industries like electric motorcycles, where consumer adoption rates, regulatory environments, and technological advancements can significantly impact a company's growth trajectory and financial performance.

Given the company's pre-revenue status, the valuation does not rely on traditional financial metrics such as revenue multiples or earnings. Instead, it is based on the potential market opportunity in the US electric motorcycle market, the uniqueness of Curtiss Motorcycle's patent-protected Axis-centered Design, and the company's ability to position itself as a luxury brand within this space. The high capital intensity level and the company's current financial position, with short-term debt of $737,530 and long-term debt of $938,043 against total assets of $600,998, indicate significant financial risks.

For investors considering an investment in Curtiss Motorcycle, the potential for a 10X return would require the company to bring its product to market successfully and capture a significant share of the luxury electric motorcycle market. This would require substantial additional funding beyond the current crowdfunding round, further product development, effective brand positioning, and scalable manufacturing capabilities. Therefore, the path to providing a 10X return to investors is highly speculative and would depend on a range of factors coming together favorably for the company.

Next Section: Market

Market

The electric motorcycle market is a rapidly evolving sector within the broader transportation industry. With environmental concerns and the push for renewable energy sources at an all-time high, electric vehicles (EVs), including motorcycles, have seen a significant uptick in consumer interest and governmental support. The US electric motorcycle market is estimated at $1.8 billion in 2024, growing at a compound annual growth rate (CAGR) of 18.5%. Several factors, including technological advancements, decreasing battery costs, and increasing awareness of the environmental benefits of electric vehicles, underpin this growth.

Curtiss Motorcycle positions itself uniquely within this growing market by targeting the luxury segment of electric motorcycles. This niche approach aims to distinguish the company from other players in the field, including a range of manufacturers from startups to established automotive giants. The luxury electric motorcycle segment offers an opportunity for sales growth but also demands exceptional product quality, performance, and brand prestige. Curtiss Motorcycle’s patent-protected Axis-centered Design, which promises modularity and scalability, suggests the company is not only focused on the current product lineup but also on future adaptability and innovation.

Next Section: Team

Team

Curtiss Motorcycle Company's CEO is H. Matthew Chambers, who brings an impressive 31 years of relevant industry experience to the table. Chambers' extensive background in the motorcycle industry is a cornerstone for Curtiss Motorcycle's ambitious vision to become the first and only luxury brand in the motorcycle space. 

Despite the company's small team size of six members, Chambers' experience and leadership skills suggest a strategic focus on quality over quantity. The team's dedication to executing a "perfect plan with the perfect launch vehicle at the perfect time" speaks volumes about their commitment to achieving market leadership, especially in the burgeoning US electric motorcycle market. However, the report notes no team growth since the last funding round, indicating a stable but potentially stretched team as they work towards product testing, certification, and market entry. Nonetheless, the other team members have strong design and engineering skills, which will be critical in rolling out the company's first product. 

Next Section: Differentiation

Differentiation

Curtiss Motorcycle positions itself uniquely in the electric motorcycle market by branding itself as the first and only luxury brand. This distinction is not merely about higher price points but is deeply rooted in the company's innovative motorcycle design and engineering approach. The patent-protected Axis-centered Design is a cornerstone of this differentiation, offering a modular and scalable architecture that promises to redefine motorcycle aesthetics and performance. This design philosophy suggests that Curtiss Motorcycle is not just selling a product but an entirely new category within the electric motorcycle space, focusing on luxury and innovation.

While the electric motorcycle market is becoming increasingly crowded, with manufacturers ranging from startups to established automotive giants, Curtiss Motorcycle's emphasis on luxury and a unique design approach sets it apart. The comparison to LiveWire, another exclusively electric American OEM, underscores Curtiss Motorcycle's ambition to carve out a niche in the market's luxury segment. This is a bold strategy, especially considering that the electric motorcycle market is still in its infancy, with consumer preferences and market dynamics yet to mature fully.

The company's focus on a singular, innovative design principle for all future models could offer a streamlined development and production process, potentially allowing Curtiss Motorcycle to adapt quickly to market changes and consumer feedback. However, being in the pre-revenue stage, the real test for Curtiss Motorcycle will be its ability to translate these ambitious design and brand positioning strategies into commercial success. The luxury segment of the electric motorcycle market is unproven. Curtiss Motorcycle's differentiation strategy hinges on its ability to create and cultivate demand for a premium, design-centric electric motorcycle experience.

Next Section: Performance

Performance

Despite its ambitious vision to redefine the luxury motorcycle market with its innovative Axis-centered Design, Curtiss Motorcycle Company is currently in a challenging phase of its development. The company is pre-revenue, with no paying customers or product sales. This status is reflected in its financials, with a modest cash reserve of $11,077 as of the most recent fiscal year-end and a significant monthly burn rate of $104,477.08. These figures indicate a high cash consumption rate relative to the company's available cash, underscoring the urgency for additional funding or revenue generation to sustain operations.

The company has raised $2,899,718 in funding, demonstrating some level of investor confidence in its vision and potential market impact. However, the absence of revenue growth, team expansion, and product development progress since the last funding round raises concerns about the company's execution capabilities and timeline toward market entry. Curtiss Motorcycle's comparison to LiveWire, which has a valuation of over $2B despite minimal sales, is used to validate its business case. Nonetheless, this comparison remains speculative without tangible progress in product development or market traction.

Next Section: Risk

Risk

Curtiss Motorcycle, positioning itself as a luxury brand within the electric motorcycle space, faces several unique risks that potential investors should consider. Firstly, the company is in a pre-revenue stage with no sales to date, which inherently carries a high level of risk. The success of Curtiss Motorcycle depends heavily on its ability to bring its product to market, achieve market acceptance, and generate sales. This process can be challenging, especially for a company aiming to establish a new luxury brand in a competitive market.

Another significant risk involves the company's financial health. With a modest cash position and substantial short and long-term debt, Curtiss Motorcycle's current financial situation may impact its ability to sustain operations, invest in necessary product development, and scale production. The monthly burn rate further exacerbates this concern, indicating a pressing need for additional funding to continue operations. This financial strain could hinder the company's growth and delay product launch timelines.

Supply chain management is identified as a product risk for Curtiss Motorcycle. In the current global economic climate, supply chain disruptions have become increasingly common, affecting many industries, including automotive and transportation. These disruptions could lead to increased costs or delays in production, impacting Curtiss Motorcycle's ability to meet demand and potentially harming its brand reputation before it's fully established.

Next Section: Bullish Outlook

Bullish Outlook

Curtiss Motorcycle Company's positioning as the first and only luxury brand in the electric motorcycle space presents a unique investment opportunity. Their focus on luxury electric motorcycles, coupled with a patent-protected Axis-centered Design, positions them to carve out a niche within the rapidly growing electric vehicle market. This innovative design approach, which they claim will be applied to every future Curtiss motorcycle, sets them apart regarding product differentiation and scalability.

The electric vehicle industry, especially the electric motorcycle segment, is witnessing significant growth due to increasing environmental awareness and consumer demand for sustainable transportation options. Curtiss Motorcycle's focus on this sector aligns with current market trends and positions the company to tap into the burgeoning demand for electric motorcycles. The company's comparison to LiveWire, with its over $2B valuation despite minimal sales, underscores the potential market valuation and investor interest in electric motorcycle companies. This comparison highlights the promising market potential for Curtiss Motorcycle, assuming they can achieve their leadership goals within the electric motorcycle industry.

Despite being in the pre-revenue stage, Curtiss Motorcycle has raised substantially in prior funding rounds, demonstrating investor confidence in its vision and strategy. The company's commitment to innovation is further evidenced by its patent-protected technology, which enhances the uniqueness of its offering and provides a competitive edge in a moderately competitive landscape. Additionally, the company's strategic focus on the luxury segment of the electric motorcycle market could enable it to command premium pricing, contributing to potentially higher margins in the future.

Next Section: Bearish Outlook

Bearish Outlook

While ambitious in its claim to be the first and only luxury brand in the motorcycle space, Curtiss Motorcycle demonstrates a high-risk profile for potential investors. The company is in the pre-revenue phase with no current user base or partnerships, which raises significant concerns about its ability to successfully enter and capture market share in the competitive electric motorcycle market. Additionally, the claim of having a patent-protected Axis-centered Design as a key differentiator has yet to be proven in the market, which leaves the company's value proposition largely untested.

Curtiss Motorcycle's financial health also poses a bearish outlook. With a mere $11,077 in cash and equivalents at the end of the most recent fiscal year and a significant monthly burn rate of $104,477.08, the sustainability of its operations comes into question. The company's ability to continue funding its operations and move toward revenue generation is critically dependent on successful future fundraising rounds. However, investor confidence may be wavering with no revenue growth since the last round and an acknowledgment of being in a down round.

Last, the electric motorcycle market, while growing, remains moderately competitive. This environment necessitates a strong go-to-market strategy, significant capital for research and development, and robust marketing efforts to establish a brand presence. Curtiss Motorcycle's current financial and operational position may not suffice to overcome these industry challenges effectively, making the investment proposition more bearish.

Next Section: Executive Summary

Executive Summary

Curtiss Motorcycle Company is positioning itself as a pioneer in the luxury electric motorcycle market, leveraging its unique Axis-centered Design. This patent-protected design is modular and scalable, intended to be utilized across all future Curtiss motorcycles. Founded in May 2005 by H Matthew Chambers and Jordan Cornille, Curtiss aims to redefine American motorcycle leadership with a focus on electric power.

Despite being in the pre-revenue stage, Curtiss Motorcycle has raised $2,899,718 in prior funding rounds. The company is now seeking additional funds through a crowdfunding campaign on Wefunder, with a goal ranging from $50,000 to $4.3 million. The proceeds are earmarked for critical next steps, including the testing, tuning, validation, and certification of their flagship model, The 1 by Curtiss, as well as for production inventory, apparel inventory, and digital marketing efforts.

The electric motorcycle market in the US presents a high growth potential, especially as environmental concerns drive consumer interest towards sustainable transportation options. Curtiss Motorcycle's ambition to establish itself as the sole luxury brand in this space sets it apart. However, it also faces challenges due to its current lack of revenue, the significant monthly burn rate of $104,477.08, and a recent net income report showing a loss of $1,253,725.

Despite these financial hurdles, Curtiss Motorcycle's comparison to LiveWire, another exclusively electric American OEM valued at over $2B, underscores the significant market opportunity for electric motorcycles. However, investors should consider the high capital intensity of Curtiss Motorcycle's business model and the competitive landscape of the transportation industry.

With patented technology and a clear vision for the future of luxury electric motorcycles, Curtiss Motorcycle represents an intriguing investment opportunity for those interested in the intersection of transportation innovation and environmental sustainability. The company's success will largely depend on its ability to navigate its pre-revenue stage, manage its burn rate, and effectively market its innovative products.

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Curtiss Motorcycle on Wefunder 2023
Platform: Wefunder
Security Type: Equity - Common
Valuation: $5,629,368
Price per Share: $0.06

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