Key Company Highlights
It’s been a good start to the year at EVERYWHERE.
Our investments in Garmin inReach technology and our pivot to sales and marketing are delivering results.
Our investments in Garmin inReach technology and our pivot to sales and marketing are delivering results.
47 customers deployed in 46 countries
78% subscriber growth in last 60 days
Sales Funnel: $4.4M in targeted sales opportunities
Strategic Wins with Facebook, Red Cross, and three US Government customers
78% subscriber growth in last 60 days
Sales Funnel: $4.4M in targeted sales opportunities
Strategic Wins with Facebook, Red Cross, and three US Government customers
12 Month Scorecard
Strategic Business Partners
Raytheon – $60B market cap
Foundation of Everywhere technology and patents
Government market sales support
Foundation of Everywhere technology and patents
Government market sales support
Garmin – $18B market cap
inReach Satellite devices
EVERYWHERE CEO previously led satellite business
inReach Satellite devices
EVERYWHERE CEO previously led satellite business
Iridium – $4B market cap
Global Satellite connectivity
Sales and marketing support
EVERYWHERE CEO previously led data business
Global Satellite connectivity
Sales and marketing support
EVERYWHERE CEO previously led data business
Strategic Wins
Naval Surface Warfare Center (NSWC)- Government • Columbian Police- Government • Facebook- Security • Red Cross- NGO
Philmont Scout Ranch- Outdoor • Princeton University- Outdoor • RPS Group- Utility • Iridium- Security
American Conservation- NGO • Yosemite National Park- Government • Guardia Civil- Government
Naval Surface Warfare Center (NSWC)- Government • Columbian Police- Government • Facebook- Security • Red Cross- NGO
Philmont Scout Ranch- Outdoor • Princeton University- Outdoor • RPS Group- Utility • Iridium- Security
American Conservation- NGO • Yosemite National Park- Government • Guardia Civil- Government
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New Distributors
MetOcean- Canada • Gilat- Israel • Sat Phone Store- US
MetOcean- Canada • Gilat- Israel • Sat Phone Store- US
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Business Highlights
Online sales launched
New customer onboarding program
Inside sales expansion with vendor memoryBlue
Interactive training sessions for administrators and end-users
CRM Implementation: current and prospective customer database
Current Traction
47 customers operating in 46 countries
Customer Satisfaction Survey
Our customers are going to buy more products: 70%
Overview
Sample size: 47 Customers
Response Rate: 32%
Key Takeaways
Our customers are satisfied: 90%
Our customer service is excellent: 85%
We have effective pricing strategy: 92%
Our account experience needs improvement: 25%
Sample size: 47 Customers
Response Rate: 32%
Key Takeaways
Our customers are satisfied: 90%
Our customer service is excellent: 85%
We have effective pricing strategy: 92%
Our account experience needs improvement: 25%
SALES FUNNEL
175 Deals • $4.4M Value
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Key Sales Targets within
Government, Oil & Gas,
Security, and Outdoor Safety
Subscription Revenue Sources
We now have five subscription revenue streams as outlined below. The Garmin partnership has significantly expanded our market combined with the exceeded expectations for our smartphone app strategy. From our existing customer base, 21% have placed follow-on orders, which reflects our customers' confidence in the EVERYWHERE solution.
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Smartphone Apps: 90% contribution margin
Conversions: Existing Garmin inReach customers switching to EVERYWHERE Follow-on Orders: Existing EVERYWHERE customers expanding deployment Garmin inReach: Satellite Devices EC-100: Satellite Devices |
Business Milestones
SOS Monitoring: In April, we launched third-party monitoring
Initial Garmin Launch: In July, we launched tracking and SOS for one Garmin inReach device
Garmin Full Functionality: In October, we launched tracking, SOS, and messaging
for all Garmin inReach devices
Sales and Marketing Pivot: In October, we shifted our spend from
Product Development to Sales and Marketing
Initial Garmin Launch: In July, we launched tracking and SOS for one Garmin inReach device
Garmin Full Functionality: In October, we launched tracking, SOS, and messaging
for all Garmin inReach devices
Sales and Marketing Pivot: In October, we shifted our spend from
Product Development to Sales and Marketing
78% Subscriber Growth in Last 60 days
Customer Messages Over Iridium Satellite
We have delivered 2.3 million messages to date.
Our platforms are stable and robust.
Our platforms are stable and robust.
Product & Technology Updates
New Lines of Business: Garmin Conversions and Apps
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Existing Garmin inReach customers are switching to the EVERYWHERE software solution platform.
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Garmin is building a custom device for EVERYWHERE
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Three tiers of Apps:
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Industry-first Multi-channel External SOS Notifications.
Allows our customers to always be reachable by their users—at anytime—from anywhere.
If an employee enters SOS, leadership is immediately notified via email, phone, and text.
If an employee enters SOS, leadership is immediately notified via email, phone, and text.
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Channels include
Notifications include
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FINANCIALS
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Financial Valuation Metrics
Subscribers x ARPU x Churn x Year x Multiple
- Subscribers - is the number of Units at a point in time
- ARPU - Average Revenue Per Unit per month
- Churn - is the average monthly percentage of lost subscribers
- Year - multiply by 12 months to get the annual revenue
- Multiple - is the SaaS
- Subscribers – 8,340
- ARPU - $25
- Churn – .0833% (1% annually)
- Year – 12 months
- Multiple – 10X
- 8,340 x $25 x (1-.00083) x 12 x 10 = $25M Valuation
- ARPU of $25 x 60 months = $1,500
2024 - Five Year Forecast Assumptions
2024 revenue of $61M in revenue driven by 154k net new subscribers
$3.0M Convertible Note capital raise in February 2020, with closing in April 2020
$5M Series A in 2Q 2021 or earlier depending on reaching 6k subscribers
- 57k devices at an average sales price of $400 and a monthly ARPU of $25
- 10k inReach conversions, no device sale and an ARPU of $25
- 15k standalone apps with an ARPU of $10
- 25% hardware margins from direct sales; 20% hardware margins from distributor sales
- Once at scale 70% SaaS margins direct; 67% SaaS margins through distributors
- $6.4M in Sales and Marketing expense
- $4.6 in Product Development expense
$3.0M Convertible Note capital raise in February 2020, with closing in April 2020
$5M Series A in 2Q 2021 or earlier depending on reaching 6k subscribers
Current Spend
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Monthly $200K Cash Burn
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Monthly Payroll
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Investor Offering
Raise up to $3M in convertible notes
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Similar terms to 2018 convertible notes
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Converts on next financing at a 20% discount or a $20M cap
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6% simple interest
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Two-year term
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Two of EVERYWHERE’s largest investors to lead this
round with a $700K investment and $200K committed from a new investor
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April 2020 close date
Exit targets for EVERYWHERE
In Closing
Building off of our strong Q4, we are off to a solid start in 2020 as we continue on our journey to build a profitable company that will save lives and connect people around the world.
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Thank you for your support.
--Patrick
--Patrick