REUZEit
Circular Economic Surplus Asset Management
Overview
Raised: $192,585
Total Commitments ($USD)
StartEngine
11/17/2022
02/15/2023
$250
Equity - Common
Seed
RegCF
$0.80
$40,000,000
Rolling Commitments ($USD)
02/27/2023
$2,164
65
2020
Business Services, Software, & Applications
EnterpriseTech
B2B
Medium
High
Summary Profit and Loss Statement
| Most Recent Year | Prior Year | |
|---|---|---|
|
Revenue |
$6,575,640 |
$6,884,892 |
|
COGS |
$3,117,614 |
$3,190,768 |
|
Tax |
$181,528 |
$115,611 |
| ||
| ||
|
Net Income |
$-308,795 |
$910,436 |
Summary Balance Sheet
| Most Recent Year | Prior Year | |
|---|---|---|
|
Cash |
$381,956 |
$566,326 |
|
Accounts Receivable |
$699,242 |
$348,369 |
|
Total Assets |
$2,277,721 |
$1,553,762 |
|
Short-Term Debt |
$1,653,955 |
$663,847 |
|
Long-Term Debt |
$218,982 |
$141,228 |
|
Total Liabilities |
$1,872,937 |
$805,075 |
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Analyst Report
Bootstrapping — growing a business with limited personal funds and organic growth — forces founders to carefully control their spending on the road to profitability. And because they’re not spending much, they can sometimes reach profitability sooner than startups that prioritize growth.
But investors must remember that while rapidly growing companies often struggle to become profitable, profitable companies can also struggle to grow. REUZEit, the company we’re looking at today, was profitable in 2020 with $6.8 million in revenue. The following year, its revenue flattened and it lost money. But 2021 was a tough year for many companies — startups and established companies alike. In 2022, REUZEit’s revenue jumped to $8.5 million, and it cut its losses in half.
This may be a sign of good things to come. But can REUZEit maintain — or preferably increase — its 2022 growth rate and become profitable? And can it grow big enough to provide investors with at least a 10x return on their investment?
Founder Profile
REUZEit Co-founder Justin Andrews on Confronting Overproduction
Since we’re all scrambling to plan for the year ahead, it’s easy to forget what we left behind in 2022 — including 268 million tons of trash. But that garbage won’t go anywhere even if we ignore it. As you read this, landfills are releasing methane into the atmosphere, contaminating increasingly precious water sources, and damaging ecosystems.
One company wants science and pharmaceutical companies to pause before storing or tossing equipment and ask, “What if I could sell this?” REUZEit is a platform that takes that equipment, reconditions it, and redeploys it or helps owners sell it. We reached out to CEO and co-founder Justin Andrews to hear about who inspired REUZEit and the company’s goals for 2023.
Note: This interview was conducted over phone and email. It has been lightly edited for clarity and length.