Pre RBF (Annual) Post RBF (Annual)

Net Revenue ₹ 25,000,000.00 ₹ 58,500,000.00

Gross Profit ₹ 16,250,000.00 ₹ 29,065,000.00
GM 65% 50%
Marketing Spend ₹ 5,000,000.00 ₹ 13,000,000.00
Contribution Margin ₹ 11,250,000.00 ₹ 16,065,000.00
CM2% 45% 27%
Operating Expenses ₹ 12,000,000.00 ₹ 13,000,000.00
EBITDA ₹ -750,000.00 ₹ 3,065,000.00
EBITDA % -3% 5%

Inputs (highlighted)
Funds raised via RBF (for marketing) ₹ 8,000,000.00
Interest % 12%
Term period of RBF 12 months
Repayable Amt ₹ 8,960,000.00
Required Rev share 15.32%
Pre RBF Post RBF % change
GM% (RBF Rev share reduced from GM) 65% 50% -24%
ROAS 5 4.5 -10%
Operating Expenses ₹ 12,000,000.00 ₹ 13,000,000.00 8%
Annual Marketing Spend ₹ 5,000,000.00 ₹ 13,000,000.00 160%
Net Revenue ₹ 25,000,000.00 ₹ 58,500,000.00 134%
Please note that this model assumes that even though rev share% will be predetermined at the
time of raising RBF, the lender would require a bullet payment at the end of the term period in
case the rev share is not able to cover the repayable amount during the term period. Hence
effective rev share% would change if there is underperformance.
ed at the
eriod in
ence