Investor Dashboard
Key financial KPIs at a glance — % against revenues in QuickBooks-statement style.
Revenue Mix · % of Top Line
Cost Structure · % of Operating Cost
Use of Funds · % of $30M Raise
Problem & Solution
5G FWA broadband at 60% the cost of fiber, deployed in 90 days vs 18 months
The Problem
Tier-2 and Tier-3 European cities are structurally underserved by fiber — incumbent ROI doesn't justify trenching costs in markets under 250K households. The result: 18M EU households are stuck on copper DSL at <50Mbps while paying €35+/month, with no competitive alternative.
Our Solution
A fixed-wireless access network leveraging 3.5GHz mid-band spectrum to deliver 500Mbps+ symmetric broadband at €29/month. 90-day metro deployment vs 18-month fiber buildout. Self-install customer-premise equipment, automated service activation, and no truck rolls for 95% of installs.
Market Opportunity
€42B EU Broadband addressable today
FWA segment growing 31% CAGR · displacing copper DSL in underserved metros
Consumer broadband subscriptions (€29–€59/mo, 24-month average tenure) and SMB symmetric plans (€89–€249/mo). Self-install reduces unit acquisition cost by 65% vs incumbent truck-roll model. Wholesale capacity to MVNOs as secondary revenue.
Financial Statements · % vs Revenue
QuickBooks-style readout — every line shown as percentage of its parent total.
Revenue Mix
| Revenue Stream | % of Revenue | Share |
|---|---|---|
| Consumer Broadband | 70.0% | 70% |
| SMB Symmetric Plans | 18.0% | 18% |
| Wholesale to MVNOs | 7.0% | 7% |
| Value-Added Services | 5.0% | 5% |
| Total Revenue | 100.0% | 100% |
Cost Structure
| Cost Line | % of Cost | Share |
|---|---|---|
| Spectrum Licensing & Lease | 22.0% | 22% |
| Tower / Backhaul | 20.0% | 20% |
| Customer Acquisition | 18.0% | 18% |
| Engineering & NetOps | 15.0% | 15% |
| CPE Hardware Subsidy | 12.0% | 12% |
| G&A | 13.0% | 13% |
| Total Operating Cost | 100.0% | 100% |
Use of Funds — $30M Raise
| Allocation | % of Raise | Share |
|---|---|---|
| Network Expansion (24 new cities) | 45.0% | 45% |
| Spectrum Acquisition | 22.0% | 22% |
| Engineering & Software | 15.0% | 15% |
| Customer Acquisition | 12.0% | 12% |
| Working Capital | 6.0% | 6% |
| Total Use of Funds | 100.0% | 100% |
Valuation, Capital Structure & Forward View
An investment is a bet on the forward plan, so a trailing snapshot isn't enough. These are derived from this report's own ask and projections — not external estimates.
Capital Structure & Funding
A blended equity + debt structure — this round layers a credit facility (loan / project / trade / inventory finance) on top of the equity cheque. That puts leverage, debt service and lender covenants into the capital structure: drawdown conditions and coverage ratios are first-order diligence items, not footnotes.
How to read these
Rule of 40 sums forward revenue growth and EBITDA margin — ≥40 is healthy; below it flags growth bought at the cost of profit. Capital efficiency is Year-5 revenue per dollar raised. Entry multiple divides the disclosed cap / pre-money / asking price by Year-3 revenue, shown only where disclosed (n/d = not derivable). Verify against primary diligence.
Traction & Proof Points
- 84K paying subscribers across 12 European Tier-2 cities · 8% MoM net add growth
- €19/customer monthly margin · NPS 64 vs incumbent benchmark 21
- Median install time 3 days from order vs 18-day incumbent baseline
Moat & Exit Strategy
Defensible Moat
First-mover spectrum licenses across 36 European Tier-2 cities create 5–8 year exclusivity windows competitors can't replicate. Software-defined network ops reduce per-subscriber cost 40% below incumbent baselines. NPS gap (64 vs 21) drives organic acquisition lowering blended CAC vs telco peers.
Exit Path
Strategic acquisition by a European tier-1 telco (Deutsche Telekom, Orange, Vodafone) absorbing the subscriber base + spectrum, or sale to a satellite-broadband platform seeking terrestrial network, within 5–7 years at 6–9x revenue.
Key Risks
- Spectrum regulator policy shifts affecting 3.5GHz allocations
- Incumbent fiber overbuild in markets where FWA proves the demand
- CPE hardware cost volatility tied to chipset supply
When the Thesis Breaks
Read this before trusting the forward numbers. The case rests on operating leverage — revenue growth converting into a holding-or-expanding EBITDA margin. The fastest way it breaks: a period where revenue grows but EBITDA falls (margin compression).
If any of the Key Risks above materialise, the forward projections in this report should be treated as suspended until the model is re-underwritten. The single most material trigger to watch: Spectrum regulator policy shifts affecting 3.5GHz allocations.