Actual

in thousands of USD 2018 Q1 2018 Q2 2018 Q3 2018 Q4 2019 Q1 2019 Q2

Mar-18 Jun-18 Sep-18 Dec-18 Mar-19 Jun-19
1A. AE Rep Productivity by Segment
Starting SMB AEs 4 4 5 6 5 6
New 1 1 1 - 1 1
Churn (1) - - (1) - -
SMB AE Ending SMB AEs 4 5 6 5 6 7
Ramp check 1 1 1 1 1 1
100% 100% Ramped After 2Q 3 4 5 5 5 6
50% 50% Ramped After 1Q 1 1 1 - 1 1
Total Ramped SMB AEs 3.5 4.5 5.5 5.0 5.5 6.5
Quota per SMB AE ($000) $20 $20 $20 $20 $20 $20
(x) Productivity Factor 75% 75% 75% 75% 75% 75%
New ARR from SMB AEs $53 $68 $83 $75 $83 $98
Starting MM AEs 1 1 1 2 2 3
New 1 - 1 1 1 -
Churn (1) - - (1) - (1)
MM AE Ending MM AEs 1 1 2 2 3 2
Ramp check 1 1 1 1 1 1
100% 100% Ramped After 3Q - - 1 - 1 1
70% 70% Ramped After 2Q - 1 - 1 1 1
30% 30% Ramped After 1Q 1 - 1 1 1 -
Total Ramped MM AEs 0.3 0.7 1.3 1.0 2.0 1.7
Quota per MM AE ($000) $100 $100 $100 $100 $100 $100
(x) Productivity Factor 75% 75% 75% 75% 75% 75%
New ARR from MM AEs $23 $53 $98 $75 $150 $128
Starting Ent AEs 1 2 2 3 3 4
New 1 - 1 - 1 1
Churn - - - - - (1)
Ent AE Total Ent AEs 2 2 3 3 4 4
Ramp check 1 1 1 1 1 1
100% 100% Ramped After 4Q 1 1 1 2 2 2
75% 75% Ramped After 3Q - - 1 - 1 -
50% 50% Ramped After 2Q - 1 - 1 - 1
25% 25% Ramped After 1Q 1 - 1 - 1 1
Total Ramped Ent AEs 1.3 1.5 2.0 2.5 3.0 2.8
Quota per Ent AE ($000) $300 $300 $300 $300 $300 $300
(x) Productivity Factor 75% 75% 75% 75% 75% 75%
New ARR from Ent AEs $281 $338 $450 $563 $675 $619
1B. Inside Sales Rep Productivity
Inside Sales Reps by Geo
AMERICAS 2 2 2 2 3 3
APAC - - 1 1 1 1
EMEA - - - - 1 1
Total Inside Sales Reps 2 2 3 3 5 5
Trials / Inside Sales Rep
 AMERICAS 10 10 10 10 10 10
APAC - - 10 10 10 10
EMEA - - 10 10 10 10
Trials Forecast
AMERICAS 20 20 20 20 30 30
APAC - - 10 10 10 10
EMEA - - - - 10 10
Total New Trials 20 20 30 30 50 50
(x) Quarterly Conversion Rate 30.0% 30.0% 30.0% 30.0% 30.0% 30.0%
New Accounts from Trials 6 6 9 9 15 15
1C. Average ACV per New Account
Converted from Trials $5,000 $6,000 $5,000 $6,111 $5,500 $5,500
SMB $4,038 $4,821 $5,500 $4,412 $4,500 $4,500
Mid Market $11,250 $26,250 $48,750 $25,000 $30,000 $32,000
Enterprise $140,625 $168,750 $225,000 $187,500 $170,000 $175,000
Overall New Average ACV $16,793 $20,563 $24,107 $23,984 $23,571 $20,583
Average ACV per All Accounts
Converted from Trials $5,118 $5,341 $5,440 $5,672 $5,667 $5,601
SMB $11,524 $10,800 $10,268 $9,693 $8,277 $6,980
Mid Market $39,096 $39,074 $40,232 $40,051 $42,442 $44,924
Enterprise $215,719 $244,229 $263,785 $274,113 $277,312 $281,648
Overall Average ACV $33,478 $34,463 $35,967 $37,420 $38,732 $39,497
1D. New Accounts
Converted from Trials 6 6 9 9 15 15
SMB 13 14 15 17 18 22
Mid Market 2 2 2 3 5 4
Enterprise 2 2 2 3 4 4
Total New Accounts 23 24 28 32 42 45
Cancelled (Churned) Accounts
Converted from Trials (2) (2) (3) (3) (5) (5)
SMB (4) (4) (4) (5) (5) (5)
Mid Market 0 0 0 0 0 0
Enterprise 0 (1) 0 0 0 0
Total Cancelled Accounts (6) (7) (7) (8) (10) (10)
2017 Ending Accounts
30 Converted from Trials 34 38 44 50 60 70
60 SMB 69 79 90 102 115 132
50 Mid Market 52 54 56 59 64 68
10 Enterprise 12 13 15 18 22 26
150 Total Ending Accounts 167 184 205 229 261 296
1E. New ARR by Segment ($000s)
SMB $53 $68 $83 $75 $83 $98
Mid Market $23 $53 $98 $75 $150 $128
Enterprise $281 $338 $450 $563 $675 $619
New ARR from AEs ($000s) $356 $458 $630 $713 $908 $844
(+) New ARR from Trials ($000s) $30 $36 $45 $55 $83 $83
Total New ARR $386 $494 $675 $768 $990 $926
Upsell % Expansion ARR by Segment ($000s)
5% SMB $7 $9 $12 $11 $40 $43
15% Mid Market $13 $29 $55 $42 $305 $317
20% Enterprise $210 $252 $336 $420 $518 $635
Expansion ARR from AEs ($000s) $230 $291 $402 $473 $862 $994
5% (+) Expansion ARR from Trials $3 $4 $5 $6 $9 $10
Total Expansion ARR ($000s) $233 $295 $407 $478 $871 $1,004
Churn % Churn ARR by Segment ($000s)
20% SMB ($15) ($19) ($23) ($21) ($159) ($171)
5% Mid Market ($2) ($5) ($9) ($7) ($102) ($106)
1% Enterprise ($3) ($3) ($4) ($5) ($26) ($32)
Churn ARR from AEs ($000s) ($19) ($27) ($36) ($33) ($287) ($308)
20% (+) Churn ARR from Trials ($9) ($11) ($13) ($17) ($35) ($41)
Total Churn ARR ($000s) ($28) ($38) ($50) ($50) ($321) ($348)
2017 ARR ARR by Segment ($000s)
$750 SMB $795 $853 $924 $989 $952 $921
$2,000 Mid Market $2,033 $2,110 $2,253 $2,363 $2,716 $3,055
$2,100 Enterprise $2,589 $3,175 $3,957 $4,934 $6,101 $7,323
ARR from AEs ($000s) $5,417 $6,138 $7,134 $8,286 $9,769 $11,299
$150 (+) ARR from Trials $174 $203 $239 $284 $340 $392
$5,000 Total ARR ($000s) $5,591 $6,341 $7,373 $8,569 $10,109 $11,691
Salaries 1F. Sales Expense by Segment ($000s)
$60 Inside Sales $120 $120 $180 $180 $300 $300
$80 SMB AEs $320 $400 $480 $400 $480 $560
$100 Mid Market AEs $100 $100 $200 $200 $300 $200
$125 Enterprise AEs $250 $250 $375 $375 $500 $500
Total Sales Expense ($000s) $790 $870 $1,235 $1,155 $1,580 $1,560
 Lightspeed Forecast
2019 Q3 2019 Q4 2020 Q1 2020 Q2 2020 Q3 2020 Q4 2021 Q1 2021 Q2 2021 Q3 2021 Q4
Sep-19 Dec-19 Mar-20 Jun-20 Sep-20 Dec-20 Mar-21 Jun-21 Sep-21 Dec-21

7 7 7 9 10 11 12 14 15 16
1 - 2 1 1 1 2 2 1 1
(1) - - - - - - (1) - (1)
7 7 9 10 11 12 14 15 16 16
1 1 1 1 1 1 1 1 1 1
6 7 7 9 10 11 12 13 15 15
1 - 2 1 1 1 2 2 1 1
6.5 7.0 8.0 9.5 10.5 11.5 13.0 14.0 15.5 15.5
$20 $20 $20 $20 $20 $20 $20 $20 $20 $20
75% 75% 75% 75% 75% 75% 75% 75% 75% 75%
$98 $105 $120 $143 $158 $173 $195 $210 $233 $233
2 3 3 4 4 5 6 8 9 10
1 - 1 1 1 1 2 1 1 1
- - - (1) - - - - - -
3 3 4 4 5 6 8 9 10 11
1 1 1 1 1 1 1 1 1 1
2 2 3 2 3 4 5 6 8 9
- 1 - 1 1 1 1 2 1 1
1 - 1 1 1 1 2 1 1 1
2.3 2.7 3.3 3.0 4.0 5.0 6.3 7.7 9.0 10.0
$100 $100 $100 $100 $100 $100 $100 $100 $100 $100
75% 75% 75% 75% 75% 75% 75% 75% 75% 75%
$173 $203 $248 $225 $300 $375 $473 $578 $675 $750
4 5 6 7 8 9 11 13 15 17
1 1 1 1 2 2 2 2 2 1
- - - - (1) - - - - -
5 6 7 8 9 11 13 15 17 18
1 1 1 1 1 1 1 1 1 1
2 3 4 5 5 6 7 9 11 13
1 1 1 1 1 1 2 2 2 2
1 1 1 1 1 2 2 2 2 2
1 1 1 1 2 2 2 2 2 1
3.5 4.5 5.5 6.5 6.8 8.3 10.0 12.0 14.0 15.8
$300 $300 $300 $300 $300 $300 $300 $300 $300 $300
75% 75% 75% 75% 75% 75% 75% 75% 75% 75%
$788 $1,013 $1,238 $1,463 $1,519 $1,856 $2,250 $2,700 $3,150 $3,544

3 3 4 4 4 4 5 5 5 5
2 2 2 2 3 3 3 3 4 4
1 1 2 2 2 2 3 3 3 3
6 6 8 8 9 9 11 11 12 12
 10 10 15 15 15 15 15 15 15 15
10 10 15 15 15 15 15 15 15 15
10 10 15 15 15 15 15 15 15 15

30 30 60 60 60 60 75 75 75 75
20 20 30 30 45 45 45 45 60 60
10 10 30 30 30 30 45 45 45 45
60 60 120 120 135 135 165 165 180 180
30.0% 30.0% 30.0% 30.0% 30.0% 30.0% 30.0% 30.0% 30.0% 30.0%
18 18 36 36 41 41 50 50 54 54

$5,500 $5,500 $5,500 $5,500 $5,500 $5,500 $5,500 $5,500 $5,500 $5,500
$4,500 $4,500 $5,000 $5,000 $5,000 $5,000 $5,500 $5,500 $5,500 $5,500
$34,000 $36,000 $38,000 $40,000 $42,000 $44,000 $46,000 $48,000 $50,000 $52,000
$180,000 $185,000 $190,000 $195,000 $200,000 $205,000 $210,000 $215,000 $220,000 $225,000
$23,602 $27,288 $24,365 $25,671 $25,020 $27,971 $30,118 $33,296 $35,117 $38,280

$5,551 $5,443 $5,535 $5,540 $5,553 $5,519 $5,447 $5,316 $5,176 $5,001
$5,948 $5,073 $4,425 $3,954 $3,638 $3,427 $3,346 $3,305 $3,296 $3,270
$47,296 $49,258 $51,285 $53,707 $56,427 $58,800 $62,085 $65,122 $67,867 $71,131
$305,591 $318,003 $322,165 $334,638 $344,021 $356,550 $367,571 $378,509 $397,036 $410,549
$41,115 $43,151 $44,400 $46,069 $47,675 $49,796 $52,295 $55,291 $58,616 $62,375

18 18 36 36 41 41 50 50 54 54
22 23 24 29 32 35 35 38 42 42
5 6 7 6 7 9 10 12 14 14
4 5 7 8 8 9 11 13 14 16
49 52 74 79 88 94 106 113 124 126

(6) (6) (11) (11) (13) (13) (15) (15) (17) (17)
(6) (6) (5) (6) (7) (7) (7) (8) (9) (9)
0 0 0 0 0 0 (1) (1) (1) (1)
(1) 0 0 (1) 0 0 0 0 (1) 0
(13) (12) (16) (18) (20) (20) (23) (24) (28) (27)

82 94 119 144 172 200 235 270 307 344

148 165 184 207 232 260 288 318 351 384
73 79 86 92 99 108 117 128 141 154
29 34 41 48 56 65 76 89 102 118
332 372 430 491 559 633 716 805 901 1,000

$98 $105 $120 $143 $158 $173 $195 $210 $233 $233
$173 $203 $248 $225 $300 $375 $473 $578 $675 $750
$788 $1,013 $1,238 $1,463 $1,519 $1,856 $2,250 $2,700 $3,150 $3,544
$1,058 $1,320 $1,605 $1,830 $1,976 $2,404 $2,918 $3,488 $4,058 $4,526
$99 $99 $198 $198 $226 $226 $275 $275 $297 $297
$1,157 $1,419 $1,803 $2,028 $2,202 $2,629 $3,193 $3,763 $4,355 $4,823
 $46 $49 $48 $46 $44 $42 $41 $41 $42 $45
$338 $354 $407 $458 $518 $584 $662 $741 $838 $953
$791 $987 $1,220 $1,465 $1,772 $2,162 $2,642 $3,213 $3,853 $4,635
$1,176 $1,391 $1,675 $1,969 $2,334 $2,788 $3,344 $3,995 $4,733 $5,632
$12 $14 $17 $20 $23 $26 $33 $40 $48 $55
$1,187 $1,405 $1,692 $1,988 $2,357 $2,814 $3,377 $4,034 $4,781 $5,687

($185) ($198) ($190) ($184) ($176) ($167) ($163) ($164) ($169) ($178)
($113) ($118) ($136) ($153) ($173) ($195) ($221) ($247) ($279) ($318)
($40) ($49) ($61) ($73) ($89) ($108) ($132) ($161) ($193) ($232)
($337) ($365) ($387) ($410) ($437) ($470) ($515) ($571) ($641) ($727)
($48) ($57) ($68) ($78) ($91) ($102) ($132) ($160) ($191) ($221)
($385) ($422) ($455) ($489) ($528) ($572) ($647) ($731) ($832) ($948)

$880 $837 $814 $818 $844 $891 $964 $1,051 $1,157 $1,256
$3,453 $3,891 $4,411 $4,941 $5,586 $6,350 $7,264 $8,336 $9,569 $10,954
$8,862 $10,812 $13,209 $16,063 $19,265 $23,176 $27,935 $33,687 $40,498 $48,445
$13,195 $15,540 $18,434 $21,822 $25,695 $30,417 $36,163 $43,074 $51,224 $60,655
$455 $512 $659 $798 $955 $1,104 $1,280 $1,435 $1,589 $1,721
$13,650 $16,052 $19,092 $22,620 $26,650 $31,521 $37,443 $44,509 $52,813 $62,375

$360 $360 $480 $480 $540 $540 $660 $660 $720 $720
$560 $560 $720 $800 $880 $960 $1,120 $1,200 $1,280 $1,280
$300 $300 $400 $400 $500 $600 $800 $900 $1,000 $1,100
$625 $750 $875 $1,000 $1,125 $1,375 $1,625 $1,875 $2,125 $2,250
$1,845 $1,970 $2,475 $2,680 $3,045 $3,475 $4,205 $4,635 $5,125 $5,350
 Annual
2022 Q1 2022 Q2 2022 Q3 2022 Q4 2018 2019 2020 2021 2022
Mar-22 Jun-22 Sep-22 Dec-22 Dec-18 Dec-19 Dec-20 Dec-21 Dec-22

16 18 18 20 4 5 7 12 16
2 2 2 2 3 3 5 6 8
- (2) - - (2) (1) - (2) (2)
18 18 20 22 5 7 12 16 22
1 1 1 1 1 1 1 1 1
16 16 18 20 5 7 11 15 20
2 2 2 2 - - 1 1 2
17.0 17.0 19.0 21.0 5.0 7.0 11.5 15.5 21.0
$20 $20 $20 $20 $20 $20 $20 $20 $20
75% 75% 75% 75% 75% 75% 75% 75% 75%
$255 $255 $285 $315 $75 $105 $173 $233 $315
11 13 14 16 1 2 3 6 11
2 2 2 2 3 2 4 5 8
- (1) - - (2) (1) (1) - (1)
13 14 16 18 2 3 6 11 18
1 1 1 1 1 1 1 1 1
10 10 12 14 - 2 4 9 14
1 2 2 2 1 1 1 1 2
2 2 2 2 1 - 1 1 2
11.3 12.0 14.0 16.0 1.0 2.7 5.0 10.0 16.0
$100 $100 $100 $100 $100 $100 $100 $100 $100
75% 75% 75% 75% 75% 75% 75% 75% 75%
$848 $900 $1,050 $1,200 $75 $203 $375 $750 $1,200
18 20 22 22 1 3 6 11 18
2 2 1 1 2 4 6 7 6
- - (1) - - (1) (1) - (1)
20 22 22 23 3 6 11 18 23
1 1 1 1 1 1 1 1 1
15 17 17 19 2 3 6 13 19
2 1 2 2 - 1 1 2 2
1 2 2 1 1 1 2 2 1
2 2 1 1 - 1 2 1 1
17.5 19.3 19.8 21.3 2.5 4.5 8.3 15.8 21.3
$300 $300 $300 $300 $300 $300 $300 $300 $300
75% 75% 75% 75% 75% 75% 75% 75% 75%
$3,938 $4,331 $4,444 $4,781 $563 $1,013 $1,856 $3,544 $4,781

6 6 6 6 2 3 4 5 6
4 4 5 5 1 2 3 4 5
4 4 4 4 - 1 2 3 4
14 14 15 15 3 6 9 12 15
 15 15 15 15 40 40 60 60 60
15 15 15 15 20 40 60 60 60
15 15 15 15 20 40 60 60 60

90 90 90 90 80 120 240 300 360

60 60 75 75 20 60 150 210 270
60 60 60 60 - 40 120 180 240
210 210 225 225 100 220 510 690 870
30.0% 30.0% 30.0% 30.0% 30% 30% 30% 30% 30%
63 63 68 68 30 66 154 208 262

$5,500 $5,500 $5,500 $5,500 $5,533 $5,500 $5,500 $5,500 $5,500

$6,000 $6,000 $6,000 $6,000 $4,703 $4,500 $4,938 $5,541 $5,936
$54,000 $56,000 $58,000 $60,000 $27,500 $32,625 $39,569 $49,500 $57,107
$230,000 $235,000 $240,000 $245,000 $181,250 $181,985 $189,844 $215,625 $236,402
$38,752 $41,663 $40,214 $41,430 $21,703 $23,892 $25,857 $34,398 $40,543

$4,832 $4,644 $4,471 $4,292 $5,672 $5,443 $5,519 $5,001 $4,292

$3,268 $3,238 $3,214 $3,199 $9,693 $5,073 $3,427 $3,270 $3,199
$74,131 $77,509 $80,938 $84,767 $40,051 $49,258 $58,800 $71,131 $84,767
$427,334 $447,202 $471,112 $495,005 $274,113 $318,003 $356,550 $410,549 $495,005
$66,180 $70,560 $74,978 $79,748 $37,420 $43,151 $49,796 $62,375 $79,748

63 63 68 68 30 66 154 208 262

43 43 48 53 59 85 120 157 187
16 16 18 20 9 20 29 50 70
17 18 19 20 9 17 32 54 74
139 140 153 161 107 188 335 469 593

(19) (19) (21) (21) (10) (22) (48) (64) (80)

(9) (9) (10) (11) (17) (22) (25) (33) (39)
(1) (1) (1) (2) 0 0 0 (4) (5)
0 0 (1) 0 (1) (1) (1) (1) (1)
(29) (29) (33) (34) (28) (45) (74) (102) (125)

388 432 479 526 50 94 200 344 526

418 452 490 532 102 165 260 384 532
169 184 201 219 59 79 108 154 219
135 153 171 191 18 34 65 118 191
1,110 1,221 1,341 1,468 229 372 633 1,000 1,468

$255 $255 $285 $315 $278 $383 $593 $870 $1,110

$848 $900 $1,050 $1,200 $248 $653 $1,148 $2,475 $3,998
$3,938 $4,331 $4,444 $4,781 $1,631 $3,094 $6,075 $11,644 $17,494
$5,040 $5,486 $5,779 $6,296 $2,156 $4,129 $7,815 $14,989 $22,601
$347 $347 $374 $374 $166 $363 $847 $1,144 $1,441
$5,387 $5,833 $6,153 $6,670 $2,322 $4,492 $8,662 $16,133 $24,042
 $48 $53 $58 $63 $39 $178 $180 $168 $221
$1,090 $1,250 $1,435 $1,643 $139 $1,314 $1,967 $3,193 $5,418
$5,587 $6,737 $8,100 $9,689 $1,218 $2,931 $6,620 $14,342 $30,113
$6,725 $8,040 $9,593 $11,395 $1,395 $4,423 $8,766 $17,704 $35,753
$64 $72 $79 $86 $17 $45 $85 $176 $301
$6,789 $8,112 $9,672 $11,481 $1,413 $4,468 $8,851 $17,880 $36,054

($193) ($210) ($231) ($251) ($78) ($712) ($718) ($674) ($885)

($363) ($417) ($478) ($548) ($23) ($438) ($656) ($1,064) ($1,806)
($279) ($337) ($405) ($484) ($15) ($147) ($331) ($717) ($1,506)
($835) ($964) ($1,115) ($1,283) ($116) ($1,297) ($1,705) ($2,455) ($4,197)
($256) ($287) ($318) ($344) ($50) ($180) ($340) ($703) ($1,205)
($1,091) ($1,251) ($1,433) ($1,627) ($166) ($1,477) ($2,045) ($3,158) ($5,402)

$1,366 $1,464 $1,575 $1,702 $989 $837 $891 $1,256 $1,702

$12,528 $14,262 $16,269 $18,564 $2,363 $3,891 $6,350 $10,954 $18,564
$57,690 $68,422 $80,560 $94,546 $4,934 $10,812 $23,176 $48,445 $94,546
$71,584 $84,147 $98,404 $114,812 $8,286 $15,540 $30,417 $60,655 $114,812
$1,875 $2,006 $2,142 $2,258 $284 $512 $1,104 $1,721 $2,258
$73,459 $86,153 $100,546 $117,069 $8,569 $16,052 $31,521 $62,375 $117,069

$840 $840 $900 $900 $600 $1,320 $2,040 $2,760 $3,480

$1,440 $1,440 $1,600 $1,760 $1,600 $2,160 $3,360 $4,880 $6,240
$1,300 $1,400 $1,600 $1,800 $600 $1,100 $1,900 $3,800 $6,100
$2,500 $2,750 $2,750 $2,875 $1,250 $2,375 $4,375 $7,875 $10,875
$6,080 $6,430 $6,850 $7,335 $4,050 $6,955 $11,675 $19,315 $26,695
 Actual
in thousands of USD 2018 Q1 2018 Q2 2018 Q3 2018 Q4 2019 Q1 2019 Q2
Mar-18 Jun-18 Sep-18 Dec-18 Mar-19 Jun-19
2017 ARR SaaS Metrics
$5,000 Beginning ARR ($000s) $5,000 $5,591 $6,341 $7,373 $8,569 $10,109
New Logo ARR $386 $494 $675 $768 $990 $926
Expansion ARR $233 $295 $407 $478 $871 $1,004
Churn ARR ($28) ($38) ($50) ($50) ($321) ($348)
Ending ARR ($000s) $5,591 $6,341 $7,373 $8,569 $10,109 $11,691
Annual Net Retention Rate
Converted from Trials 78% 70% 63%
SMB 95% 81% 68%
Mid Market 106% 115% 123%
Enterprise 157% 157% 158%
Overall 125% 128% 131%
Annual ARR Churn Rate
Converted from Trials 24% 25% 26%
SMB 8% 10% 11%
Mid Market 0.4% 1.0% 1.7%
Enterprise 0.5% 0.5% 0.5%
Overall 2.3% 2.7% 3.1%
Annual Logo Churn Rate
Converted from Trials 24% 22% 28% 25% 34% 29%
SMB 24% 21% 19% 20% 18% 16%
Mid Market 0.0% 0.0% 0.0% 0.0% 0.0% 0.0%
Enterprise 0.0% 29.4% 0.0% 0.0% 0.0% 0.0%
Overall 15.1% 15.7% 14.4% 14.7% 16.4% 14.5%
Sales Efficiency
New Bookings $619 $788 $1,082 $1,246 $1,861 $1,931
Sales Efficiency 0.48 0.54 0.56 0.64 0.65 0.70
Sales & Marketing Expense $1,290 $1,470 $1,935 $1,955 $2,863 $2,758
 Lightspeed Forecast
2019 Q3 2019 Q4 2020 Q1 2020 Q2 2020 Q3 2020 Q4 2021 Q1 2021 Q2 2021 Q3 2021 Q4
Sep-19 Dec-19 Mar-20 Jun-20 Sep-20 Dec-20 Mar-21 Jun-21 Sep-21 Dec-21

$11,691 $13,650 $16,052 $19,092 $22,620 $26,650 $31,521 $37,443 $44,509 $52,813
$1,157 $1,419 $1,803 $2,028 $2,202 $2,629 $3,193 $3,763 $4,355 $4,823
$1,187 $1,405 $1,692 $1,988 $2,357 $2,814 $3,377 $4,034 $4,781 $5,687
($385) ($422) ($455) ($489) ($528) ($572) ($647) ($731) ($832) ($948)
$13,650 $16,052 $19,092 $22,620 $26,650 $31,521 $37,443 $44,509 $52,813 $62,375

57% 52% 53% 52% 52% 50% 54% 54% 54% 52%
57% 46% 41% 38% 36% 36% 36% 39% 41% 43%
130% 137% 135% 134% 134% 134% 134% 134% 134% 134%
157% 156% 157% 158% 158% 158% 158% 158% 159% 159%
133% 135% 136% 139% 141% 142% 143% 145% 146% 147%

28% 49% 48% 49% 50% 53% 48% 46% 43% 48%
9% 64% 72% 80% 90% 91% 91% 86% 79% 73%
1.2% 17.2% 15.5% 14.8% 13.7% 14.0% 13.9% 14.0% 13.9% 13.9%
0.5% 2.1% 2.1% 2.2% 2.2% 2.3% 2.2% 2.2% 2.2% 2.3%
2.7% 15.0% 13.8% 13.2% 12.4% 11.3% 10.2% 9.3% 8.6% 8.2%

30% 26% 39% 32% 32% 27% 27% 23% 23% 20%
17% 15% 12% 12% 13% 12% 10% 11% 11% 10%
0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 3.7% 3.4% 3.1% 2.8%
14.5% 0.0% 0.0% 9.4% 0.0% 0.0% 0.0% 0.0% 4.4% 0.0%
16.4% 13.7% 16.1% 15.7% 15.3% 13.6% 13.8% 12.7% 13.2% 11.5%

$2,344 $2,824 $3,495 $4,016 $4,559 $5,443 $6,569 $7,797 $9,135 $10,511
0.75 0.80 0.85 0.90 0.95 1.00 1.05 1.10 1.15 1.20
$3,125 $3,530 $4,112 $4,463 $4,799 $5,443 $6,257 $7,088 $7,944 $8,759
 Annual
2022 Q1 2022 Q2 2022 Q3 2022 Q4 2018 2019 2020 2021 2022
Mar-22 Jun-22 Sep-22 Dec-22 Dec-18 Dec-19 Dec-20 Dec-21 Dec-22

$62,375 $73,459 $86,153 $100,546 $5,000 $8,569 $16,052 $31,521 $62,375

$5,387 $5,833 $6,153 $6,670 $2,322 $4,492 $8,662 $16,133 $24,042
$6,789 $8,112 $9,672 $11,481 $1,413 $4,468 $8,851 $17,880 $36,054
($1,091) ($1,251) ($1,433) ($1,627) ($166) ($1,477) ($2,045) ($3,158) ($5,402)
$73,459 $86,153 $100,546 $117,069 $8,569 $16,052 $31,521 $62,375 $117,069

52% 50% 49% 47% 78% 52% 50% 52% 47%

45% 46% 47% 47% 95% 46% 36% 43% 47%
133% 133% 133% 133% 106% 137% 134% 134% 133%
159% 159% 159% 159% 157% 156% 158% 159% 159%
147% 148% 148% 149% 125% 135% 142% 147% 149%

50% 53% 56% 60% 24% 32% 50% 46% 55%

68% 64% 62% 61% 8% 23% 83% 82% 64%
13.6% 13.4% 13.3% 13.3% 0.4% 5.3% 14.5% 13.9% 13.4%
2.3% 2.3% 2.3% 2.3% 0.5% 0.9% 2.2% 2.2% 2.3%
7.8% 7.5% 7.2% 7.0% 2.3% 5.9% 12.7% 9.1% 7.4%

20% 18% 18% 16% 25% 30% 32% 23% 18%

9% 8% 9% 9% 21% 17% 12% 10% 9%
2.6% 2.3% 2.2% 3.9% 0.0% 0.0% 0.0% 3.2% 2.7%
0.0% 0.0% 2.6% 0.0% 7.3% 3.6% 2.4% 1.1% 0.6%
11.1% 10.0% 10.4% 9.8% 15.0% 15.2% 15.2% 12.8% 10.3%

$12,175 $13,945 $15,825 $18,151 $3,735 $8,960 $17,513 $34,013 $60,096

1.25 1.30 1.35 1.40 0.56 0.73 0.93 1.13 1.33
$9,740 $10,727 $11,722 $12,965 $6,650 $12,276 $18,816 $30,048 $45,154
 Actual
in thousands of USD 2018 Q1 2018 Q2 2018 Q3 2018 Q4 2019 Q1 2019 Q2
Mar-18 Jun-18 Sep-18 Dec-18 Mar-19 Jun-19
Summary P&L
Ending ARR ($000s) $5,591 $6,341 $7,373 $8,569 $10,109 $11,691
YoY Growth 81% 84%
Revenue ($000s) $1,500 $1,700 $2,000 $2,300 $2,813 $3,251
as % of ending ARR 27% 27% 27% 27% 28% 28%
YoY Growth 88% 91%
Gross Profit $975 $1,105 $1,360 $1,564 $1,969 $2,276
Gross Margin % 65% 65% 68% 68% 70% 70%
Sales $790 $870 $1,235 $1,155 $1,580 $1,560
Marketing $500 $600 $700 $800 $1,283 $1,198
R&D $300 $350 $380 $410 $478 $553
G&A and Other $150 $170 $200 $230 $281 $325
Total OpEx $1,740 $1,990 $2,515 $2,595 $3,623 $3,636
Sales Margin % 53% 51% 62% 50% 56% 48%
Marketing Margin % 33% 35% 35% 35% 46% 37%
R&D Margin % 20% 21% 19% 18% 17% 17%
G&A Margin % 10% 10% 10% 10% 10% 10%
Total Opex Margin % 116% 117% 126% 113% 129% 112%
Operating Income ($765) ($885) ($1,155) ($1,031) ($1,654) ($1,360)
Operating Margin -51% -52% -58% -45% -59% -42%

Cash Balance
Starting Cash Balance $8,000 $7,235 $6,350 $5,195 $4,164 $2,510
Estimated Cash Flow / (Burn) ($765) ($885) ($1,155) ($1,031) ($1,654) ($1,360)
Ending Cash Balance $7,235 $6,350 $5,195 $4,164 $2,510 $1,151
 Lightspeed Forecast
2019 Q3 2019 Q4 2020 Q1 2020 Q2 2020 Q3 2020 Q4 2021 Q1 2021 Q2 2021 Q3 2021 Q4
Sep-19 Dec-19 Mar-20 Jun-20 Sep-20 Dec-20 Mar-21 Jun-21 Sep-21 Dec-21

$13,650 $16,052 $19,092 $22,620 $26,650 $31,521 $37,443 $44,509 $52,813 $62,375
85% 87% 89% 93% 95% 96% 96% 97% 98% 98%
$3,839 $4,469 $5,504 $6,517 $7,762 $9,091 $11,169 $13,268 $15,910 $18,613
28% 28% 29% 29% 29% 29% 30% 30% 30% 30%
92% 94% 96% 100% 102% 103% 103% 104% 105% 105%
$2,687 $3,128 $3,908 $4,627 $5,511 $6,454 $8,042 $9,553 $11,455 $13,401
70% 70% 71% 71% 71% 71% 72% 72% 72% 72%
$1,845 $1,970 $2,475 $2,680 $3,045 $3,475 $4,205 $4,635 $5,125 $5,350
$1,280 $1,560 $1,637 $1,783 $1,754 $1,968 $2,052 $2,453 $2,819 $3,409
$653 $760 $881 $1,043 $1,242 $1,454 $1,675 $1,990 $2,386 $2,792
$384 $447 $495 $586 $699 $818 $894 $1,061 $1,273 $1,489
$4,162 $4,736 $5,488 $6,092 $6,739 $7,715 $8,826 $10,140 $11,603 $13,040
48% 44% 45% 41% 39% 38% 38% 35% 32% 29%
33% 35% 30% 27% 23% 22% 18% 18% 18% 18%
17% 17% 16% 16% 16% 16% 15% 15% 15% 15%
10% 10% 9% 9% 9% 9% 8% 8% 8% 8%
108% 106% 100% 93% 87% 85% 79% 76% 73% 70%
($1,474) ($1,608) ($1,580) ($1,465) ($1,228) ($1,261) ($784) ($587) ($148) $361
-38% -36% -29% -22% -16% -14% -7% -4% -1% 2%

$1,151 ($324) ($1,932) ($3,512) ($4,977) ($6,206) ($7,467) ($8,250) ($8,837) ($8,985)
($1,474) ($1,608) ($1,580) ($1,465) ($1,228) ($1,261) ($784) ($587) ($148) $361
($324) ($1,932) ($3,512) ($4,977) ($6,206) ($7,467) ($8,250) ($8,837) ($8,985) ($8,624)
 Annual
2022 Q1 2022 Q2 2022 Q3 2022 Q4 2018 2019 2020 2021 2022
Mar-22 Jun-22 Sep-22 Dec-22 Dec-18 Dec-19 Dec-20 Dec-21 Dec-22

$73,459 $86,153 $100,546 $117,069 $8,569 $16,052 $31,521 $62,375 $117,069

96% 94% 90% 88% 87% 96% 98% 88%
$22,038 $25,846 $30,164 $35,121 $7,500 $14,373 $28,873 $58,960 $113,168
30% 30% 30% 30% 88% 90% 92% 95% 97%
97% 95% 90% 89% 92% 101% 104% 92%
$16,088 $18,868 $22,019 $25,638 $5,004 $10,061 $20,500 $42,451 $82,613
73% 73% 73% 73% 67% 70% 71% 72% 73%
$6,080 $6,430 $6,850 $7,335 $4,050 $6,955 $11,675 $19,315 $26,695
$3,660 $4,297 $4,872 $5,630 $2,600 $5,321 $7,141 $10,733 $18,459
$3,085 $3,618 $4,223 $4,917 $1,440 $2,443 $4,620 $8,844 $15,844
$1,543 $1,809 $2,111 $2,458 $750 $1,437 $2,599 $4,717 $7,922
$14,368 $16,154 $18,057 $20,340 $8,840 $16,157 $26,035 $43,608 $68,920
28% 25% 23% 21% 54% 48% 40% 33% 24%
17% 17% 16% 16% 35% 37% 25% 18% 16%
14% 14% 14% 14% 19% 17% 16% 15% 14%
7% 7% 7% 7% 10% 10% 9% 8% 7%
65% 63% 60% 58% 118% 112% 90% 74% 61%
$1,719 $2,713 $3,963 $5,298 ($3,836) ($6,096) ($5,535) ($1,157) $13,693
8% 10% 13% 15% -51% -42% -19% -2% 12%

($8,624) ($6,905) ($4,192) ($229) $8,000 $4,164 ($1,932) ($7,467) ($8,624)

$1,719 $2,713 $3,963 $5,298 ($3,836) ($6,096) ($5,535) ($1,157) $13,693
($6,905) ($4,192) ($229) $5,069 $4,164 ($1,932) ($7,467) ($8,624) $5,069