VIBEUP INC. · Pro Forma · March 2026
Full pro forma financial model: 5-year projections, scenario variables, historical revenue, cap table, team equity, break-even analysis, and exit analysis. Target scenario: 35% QoQ member growth.
Members
| Metric | Unit | 2026E | 2027E | 2028E | 2029E | 2030E |
|---|---|---|---|---|---|---|
| Total Revenue | USD | $1.2M | $19.7M | $62.9M | $120.0M | $283.0M |
| Gross Profit | USD | $0.9M | $15.4M | $51.6M | $96.0M | $212.3M |
| Gross Margin | % | 75.0% | 78.0% | 82.0% | 80.0% | 75.0% |
| Sales Commissions | USD | $0.06M | $0.99M | $3.15M | $6.00M | $14.15M |
| Marketing Programs | USD | $0.08M | $1.38M | $4.40M | $8.40M | $19.81M |
| Contribution Margin | USD | $0.8M | $13.0M | $44.0M | $81.6M | $178.3M |
| Contribution Margin % | % | 63.3% | 66.0% | 70.0% | 68.0% | 63.0% |
| Fixed Cash OpEx | USD | $0.50M | $3.20M | $4.10M | $4.50M | $5.20M |
| EBITDA | USD | $0.4M | $11.6M | $43.1M | $85.5M | $207.0M |
| EBITDA Margin | % | 33.3% | 58.9% | 68.5% | 71.3% | 73.1% |
| Net Income | USD | $0.4M | $11.6M | $34.5M | $68.4M | $165.6M |
Members
| Metric | Unit | 2026E | 2027E | 2028E | 2029E | 2030E |
|---|---|---|---|---|---|---|
| Total Revenue | USD | $1.2M | $19.7M | $62.9M | $120.0M | $283.0M |
| Gross Profit | USD | $0.9M | $15.4M | $51.6M | $96.0M | $212.3M |
| Gross Margin | % | 75.0% | 78.0% | 82.0% | 80.0% | 75.0% |
| Sales Commissions | USD | $0.06M | $0.99M | $3.15M | $6.00M | $14.15M |
| Marketing Programs | USD | $0.08M | $1.38M | $4.40M | $8.40M | $19.81M |
| Contribution Margin | USD | $0.8M | $13.0M | $44.0M | $81.6M | $178.3M |
| Contribution Margin % | % | 63.3% | 66.0% | 70.0% | 68.0% | 63.0% |
| Fixed Cash OpEx | USD | $0.50M | $3.20M | $4.10M | $4.50M | $5.20M |
| EBITDA | USD | $0.4M | $11.6M | $43.1M | $85.5M | $207.0M |
| EBITDA Margin | % | 33.3% | 58.9% | 68.5% | 71.3% | 73.1% |
| Net Income | USD | $0.4M | $11.6M | $34.5M | $68.4M | $165.6M |
VIBEUP · Variables — Scenario Conversion Assumptions
These variables drive the Conservative, Target, and Optimistic projection views. Conversion rates apply to the total member base each quarter to determine paid subscriber and business account counts.
| Scenario | Premium Conv. | Premium+ Conv. | Business Conv. | Member Growth (QoQ) | 2030 Revenue Est. |
|---|---|---|---|---|---|
| Conservative | 3% | 1% | 1% | 25% QoQ | $170M |
| Target | 10% | 3% | 5% | 35% QoQ | $283M |
| Optimistic | 20% | 8% | 10% | 50% QoQ | $438M |
Revenue Streams — Blended Mix
VIBEUP · Historical Revenue — Pre-Incorporation (2015–2021)
Pre-platform historical revenue from VIBEUP's founding operations. Demonstrates $1M+ in previous revenue validated since brand inception. Revenue paused 2020–2021 due to COVID-19.
| Product / Revenue Stream | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 |
|---|---|---|---|---|---|---|---|
| Festival Ticket Sales | $55K | $70K | $60K | $72K | $58K | — | — |
| Sponsorships | $40K | $60K | $90K | $110K | $90K | — | — |
| Residential Property Contracts | — | $52K | $65K | $115K | $65K | $96K | $96K |
| Residential Property Services | — | $2K | $6K | $22K | $12K | — | — |
| Consulting & Strategy | — | — | $18K | $35K | $42K | $55K | $48K |
| Total Revenue | $95K | $184K | $239K | $354K | $267K | $151K | $144K |
Historical Revenue Note
All bank records, invoices, and receipts available to qualified investors under NDA — contact luke@vibeup.io.
VIBEUP · Capitalization Table — Full Stakeholder Summary
Fully diluted cap table as of March 24, 2026. Total authorized: 10,000,000 shares. Total issued (pre-Proof Round close): 9,960,000 shares. Full spreadsheet maintained by General Counsel Pat Veilleux.
| Name | Role | Share Class | Shares | Equity % | Vesting / Terms |
|---|---|---|---|---|---|
| Luke Jensen | Founder & CEO | Class A Founding | 4,700,000 | 47% | Class A Founding Shares. Double vote rights. Fully vested. |
| Pat Veilleux | General Counsel & Co-Founder | Class C Founding | 510,000 | 5.1% | 50% quarterly/3yr + 50% milestone. |
| Jonathan Ofori-Amoah | Chief Product Officer & Co-Founder | Class C Founding | 600,000 | 6% | 50% quarterly/3yr + 50% milestone. |
| Oracle Studios (Andreas & Mike Demou) | Design & Engineering & Co-Founders | Class C Founding | 1,500,000 | 15% | 50% quarterly/3yr + 50% milestone. Apr 2026. |
| Erin Schirack | Partnerships Director & Co-Founder | Class C Founding | 300,000 | 3% | 50% quarterly/3yr + 50% milestone. |
| Ed (Full Stack Dev) | Full Stack Developer & Co-Founder (Pending) | Class C Founding | 250,000 | 2.5% | Quarterly vesting / 3yr + milestone. Pending. |
| George Georgiou | Backend Developer & Co-Founder | Class C Founding | 800,000 | 8% | Quarterly vesting / 3yr + milestone. |
| QINVST | Financial Strategy & Co-Founder (Pending) | Class C Founding | 100,000 | 1% | Board advisory. Pending. |
| Alexander (Initial Investor) | Investor — Seed | Class B Preferred | 40,000 | 0.4% | Early investor. Class B Preferred. |
| Pre-Seed Investors (2 Investors) | Pre-Seed Investors | Class B Preferred | 1,160,000 | ~11.6% | Pre-Seed round at $0.425/share. Class B Preferred. |
| Proof Round InvestorsOPEN | Investors (Open) | Class B Preferred | 533,981 | ~5.6% | $1.03/share. No voting rights. Round open. |
| Total (Fully Diluted incl. Proof Round) | 10,493,981 | 100% | |||
Funding Rounds — Current & Projected
| Round | Pre-Money Val. | Raise | New Shares | Price / Share | Dilution | Note |
|---|---|---|---|---|---|---|
| Pre-Seed Investors | — | $510K | 1,200,000 | $0.425 | N/A | 2 investors. Class B Preferred. |
| Proof RoundOPEN | $10.3M | $550K | 533,981 | $1.030 | ~5.6% post-money | Open. $1.03/share. Class B. No vote. |
| Seed A (projected) | $50.0M | $5.0M | TBD | TBD | ~9% | Target Q3 2026. |
| Series A (projected) | $500.0M | $50.0M | TBD | TBD | ~9% | Target 2028. |
| Series B (projected) | $1.5B | $150.0M | TBD | TBD | ~9% | Target 2029. |
| Series C (projected) | $15.0B | $1.5B | TBD | TBD | ~9% | Target 2030. |
Return Illustration — $50K Investment at Proof Round ($1.03/share)
VIBEUP · Team — Equity & Compensation Breakdown
Co-founding team equity and compensation as of March 2026. Oracle Studios (Andreas & Mike Demou) holds 15% combined Class C Founding Shares. Monthly salaries reflect the $550K Proof Round capital deployment plan.
| Name | Role | Class | Shares | Equity % | Monthly ($550K Rnd) | Vesting / Terms |
|---|---|---|---|---|---|---|
| Luke Jensen | Founder & CEO | Class A | 4,700,000 | 47% | $12,000/mo | Class A Founding Shares. Double vote rights. Fully vested. |
| Pat Veilleux | General Counsel & Co-Founder | Class C | 510,000 | 5.1% | $5,000/mo | 50% quarterly/3yr + 50% milestone. |
| Jonathan Ofori-Amoah | Chief Product Officer & Co-Founder | Class C | 600,000 | 6% | $5,000/mo | 50% quarterly/3yr + 50% milestone. |
| Oracle Studios (Andreas & Mike Demou) | Design & Engineering & Co-Founders | Class C | 1,500,000 | 15% | $6,500/mo | 50% quarterly/3yr + 50% milestone. Apr 2026. |
| Erin Schirack | Partnerships Director & Co-Founder | Class C | 300,000 | 3% | $6,000/mo | 50% quarterly/3yr + 50% milestone. |
| Ed (Full Stack Dev) | Full Stack Developer & Co-Founder (Pending) | Class C | 250,000 | 2.5% | $2,000/mo | Quarterly vesting / 3yr + milestone. Pending. |
| George Georgiou | Backend Developer & Co-Founder | Class C | 800,000 | 8% | $4,000/mo | Quarterly vesting / 3yr + milestone. |
| QINVST | Financial Strategy & Co-Founder (Pending) | Class C | 100,000 | 1% | $400/mo | Board advisory. Pending. |
| Founding Team Subtotal | 8,760,000 | 87.6% | $40,900/mo | |||
VIBEUP · Break-Even Analysis
Contribution-margin view of when the business clears cash break-even. Break-even revenue = Fixed Cash OpEx ÷ Contribution Margin %. Revenue above break-even flows directly to EBITDA.
Contribution Build
| Metric | Unit | 2026E | 2027E | 2028E | 2029E | 2030E |
|---|---|---|---|---|---|---|
| Total Revenue | USD | $1.2M | $19.7M | $62.9M | $120.0M | $283.0M |
| Gross Profit | USD | $0.9M | $15.4M | $51.6M | $96.0M | $212.3M |
| Gross Margin | % | 75.0% | 78.0% | 82.0% | 80.0% | 75.0% |
| Sales Commissions | USD | $0.06M | $0.99M | $3.15M | $6.00M | $14.15M |
| Marketing Programs | USD | $0.08M | $1.38M | $4.40M | $8.40M | $19.81M |
| Contribution Margin | USD | $0.8M | $13.0M | $44.0M | $81.6M | $178.3M |
| Contribution Margin % | % | 63.3% | 66.0% | 70.0% | 68.0% | 63.0% |
| Fixed Cash OpEx | USD | $0.50M | $3.20M | $4.10M | $4.50M | $5.20M |
Break-Even Output
| Metric | Unit | 2026E | 2027E | 2028E | 2029E | 2030E |
|---|---|---|---|---|---|---|
| Break-Even Revenue | USD | $0.79M | $4.85M | $5.86M | $6.62M | $8.25M |
| Revenue Above Break-Even | USD | $0.4M | $14.8M | $57.0M | $113.4M | $274.8M |
| Revenue / Break-Even | × | 1.5× | 4.1× | 10.7× | 18.1× | 34.3× |
| EBITDA | USD | $0.4M | $11.6M | $43.1M | $85.5M | $207.0M |
| EBITDA Margin | % | 33.3% | 58.9% | 68.5% | 71.3% | 73.1% |
Break-Even Methodology
Break-even revenue uses contribution margin after gross profit, commissions, and demand generation vs. fixed cash operating costs. VIBEUP crosses break-even in Q3 2026 driven by low fixed OpEx ($500K/yr) relative to fast-scaling contribution margin.
VIBEUP · Exit Analysis — 2030 Scenario-Based Valuation
Scenario-based valuation tied directly to 2030E ARR, EBITDA, and cumulative cash, with stakeholder proceeds fully allocated.
Valuation Inputs (2030E)
Enterprise Value Scenarios
| Metric | Unit | Downside | Base | Upside |
|---|---|---|---|---|
| 2030 ARR | USD | $283M | $283M | $283M |
| 2030 EBITDA | USD | $207M | $207M | $207M |
| 2030 Ending Cash | USD | $206M | $206M | $206M |
| ARR Multiple | × | 4.5× | 5.5× | 6.5× |
| EBITDA Multiple | × | 14× | 16× | 18× |
| ARR-Based EV | USD | $1274M | $1557M | $1840M |
| EBITDA-Based EV | USD | $2898M | $3312M | $3726M |
| Selected EV (lower of ARR / EBITDA) | USD | $1273.5M | $1556.5M | $1839.5M |
| Net Cash on Balance Sheet | USD | $206M | $206M | $206M |
| Equity Value | USD | $1479.5M | $1762.5M | $2045.5M |
| Exit Share Price | USD/share | $101.05 | $120.38 | $139.71 |
Stakeholder Proceeds & Returns
| Stakeholder | Unit | Downside | Base | Upside |
|---|---|---|---|---|
| Founders (50% equity) | USD | $739.8M | $881.3M | $1022.8M |
| Proof Round Investors (4.9%) | USD | $72.5M | $86.4M | $100.2M |
| Proof Round Investors (5.6%) | USD | $82.9M | $98.7M | $114.5M |
Illustrative Exit Routes
Why This Reads Credibly