Pre-money $20MRaise $2.5MPost-money $22.5MSingle-close structure430+ ranges addressable via Gearfire/AXIS
Q1 2026 Traction
25
Contracted locations 213% of Q1 projection
100%
XO Enterprise self-selection rate vs. 8 projected at lower tier
$1M+
Implied ARR at 90-day ramp from contracted base alone
Unit Economics — Top 1% SaaS
$734
CAC via Gearfire channel
49 days
CAC payback period
10–38×
LTV:CAC ratio
Model Your Investment
Your check size$500K
$50K$2.5M
Exit horizonYear 4
Year 2Year 6
Strategic acquisition price$150M
$25M$500M
IPO ARR multiple8×
5× floor (2026 private SaaS median)11× bull
Comparable
Model
ARR Multiple
Toast
Vertical SaaS + Payments
8–10×
Mindbody
Vertical SaaS + Payments
6–8×
ServiceTitan
Vertical SaaS
10–12×
Lightspeed
SaaS + Payments
5–7×
ShotPro
Vertical SaaS + Payments
8× selected
Multiples reflect 2026 private SaaS market conditions (medians ~4.8–6.5× forward ARR; vertical SaaS premiums to 6.5–9.5× in strong cases; bull scenarios up to 11× for exceptional growth/channel moat). Sources: PitchBook Q1 2026, internal analysis.
2026 SaaS Multiples Context
Current private SaaS revenue multiples: median ~4.8–6.2× forward ARR (PitchBook Q1 2026). Vertical SaaS + payments plays with strong NRR and channel moat: 6.5–9.5×. Exceptional growth/profitability paths can reach 9–11×. We model base at 8× and bull up to 11× to reflect ShotPro's Gearfire/AXIS migration tailwind, 100% XO Enterprise attach rate, and potential profitability trajectory. These are illustrative only — actual exits depend on future market conditions.
IPO Exit Range · Year 4
Strategic Acquisition — $150M · Year 4
Ownership—post-close, undiluted
MOIC——
IRR—annualized
Gross Return——
All Exit Scenarios — Gross Return Comparison
ARR Trajectory — V20 Model Base vs. Scenarios
Bull (+35%)Base (model)Bear (−40%)Exit year
IPO range at exit year: —. ARR 2026–2028 from V20 financial model; 2029–2032 projected at declining growth rates. Sources: Pitchbook, Crunchbase, SEC filings.
What Needs to Be True for the Bull Case▼
340+ SaaS customers by Dec 2026
Currently projecting 340 in model. Gearfire migration is the primary engine across 430+ AXIS-connected ranges.
$19.1M ARR run rate
Requires continued Gearfire migration success and sustained 100% XO self-selection from the channel.
NRR > 100%
Driven by Core → MAX → XO upgrade path and Revfinity expansion. Current cohort retention on track.
Gross margin > 55%
Payments blended margin drag is the primary risk. SaaS mix improvement as customer base scales improves blended rate.
Cash flow positive mid-2027
EBITDA turns positive June 2026 per model. Path to profitability holds at 50% of projected Gearfire volume.
Operator-investor validation
Thom Bolsch (Saddle River Range) and Ken Baye (Stoddard's) running their own ranges on ShotPro — proof no competitor can replicate.
All projections assume pro-rata dilution with no liquidation preferences, participation rights, or preferred return stacks modeled. For discussion purposes only — not a guarantee of future returns. Past performance of comparable companies is not indicative of ShotPro results.
Seeing strong MOIC or IRR potential?
We share the full data room, model access, and reference calls with existing operator-investors — the meeting has a defined deliverable.
For accredited investors only · This is not an offer to sell or solicitation to buy securities
ShotPro Technologies, Inc. · 2 Riverway Suite 1750, Houston TX 77056 · shotpro.comConfidential · Do not distribute
For accredited investors only · Not an offer to sell securities or investment advice · All projections and return calculations are illustrative, based on internal assumptions, and subject to material change · March 2026 · ShotPro Technologies, Inc. · Confidential – do not distribute
