Financial Plan & Projections
Confidential · Jul 2026 · net of ITBMS
Financial Plan & Projections Big Dream · Scenario A
The forward plan the Big Dream round funds — a regional roll-out to 88 owned stores across 5 countries, taken to 2036. Every figure here is the OKIO financial model (Scenario A) and anchors to the audited actuals: the model's 2025 base is the same $361K of net revenue reported in the historical statements. This is the assumption-driven outlook — read alongside the Financial Statements (actuals) and the Unit Economics pieces, which supply its bottom-up building blocks.
The plan in three moves
4 owned stores + lab plan
Panama base proven ($361K 2025, $870K 2026E). Unit economics validated on real cohorts; the round opens the roll-out and funds the owned lab (2030) that lifts margin.
To 51 stores, 5 countries
Panama → Colombia → Dominican Republic → Guatemala & El Salvador. Revenue compounds to $13.2M by 2031; EBITDA turns positive in 2029, net income in 2030.
88 stores, 24% EBITDA
Density and the AI-native HQ (~4% of sales) drive operating leverage: $30.9M revenue and 24% EBITDA margin ($7.5M) by 2036 — Fielmann-class economics at 1/80th the scale.
Trajectory
Projected P&L — 2025A to 2036E
Consolidated · USD · net of ITBMS · OKIO model "180726 Big Dream", Scenario A (base case). 2025 = audited actual; 2026 onward projected.
| USD | 2025A | 2026E | 2027E | 2028E | 2029E | 2030E | 2031E | 2032E | 2033E | 2034E | 2035E | 2036E |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net revenue | $361,378 | $869,746 | $2,122,541 | $4,923,721 | $8,195,450 | $10,402,935 | $13,179,325 | $17,152,179 | $21,712,090 | $25,816,474 | $29,267,223 | $30,906,088 |
| % gross margin | 66% | 67% | 72% | 72% | 70% | 70% | 71% | 72% | 73% | 73% | 73% | 73% |
| EBITDA | ($521,545) | ($398,622) | ($615,593) | ($334,797) | $247,423 | $549,009 | $864,691 | $1,985,160 | $3,417,503 | $4,521,092 | $6,578,596 | $7,549,703 |
| % EBITDA margin | -144% | -46% | -29% | -7% | 3% | 5% | 7% | 12% | 16% | 18% | 22% | 24% |
| Net income | ($587,043) | ($476,500) | ($724,510) | ($536,506) | ($54,376) | $72,093 | $201,966 | $971,627 | $1,971,495 | $2,719,866 | $4,201,269 | $4,900,466 |
| Stores (cumulative) | 4 | 4 | 16 | 25 | 29 | 39 | 51 | 64 | 76 | 88 | 88 | 88 |
Read-through: the shape is a classic owned-infrastructure ramp — losses through 2028 as stores are built and fill, then operating leverage as a maturing base absorbs a largely fixed cost structure. Gross margin climbs from ~66% to ~73% (scale + the owned lab from 2030); EBITDA margin reaches ~24% by 2036. Store-level profitability is the engine; a store-level P&L is reconciling and will follow.
How the plan is built — unit economics & assumptions
| Store roll-out | 4 (2025) → 16 (2027) → 51 (2031) → 88 by 2034, held flat to 2036. Panama 25 · Colombia ~26 · Dominican Rep. ~8 · Guatemala 3 + El Salvador 2 · regional mix ~24. |
| Revenue per store | Mature monthly caps by tier: A (mall premium) $40K · B $28K · C $20K · D (kiosk) $15K · E (strip) $22K. 36-month ramp curve (M1 20% → M36 100%), calibrated on real NY/Brisas/Costa/Albrook data. |
| Cohorts & repeat | ARPU ~$131/customer. Retention 20% Y1 · 40% Y2 · 60% Y3 · 80% Y4+ (≈ Warby × 80%). Revenue = new cohorts + installed-base recurrence (see Unit Economics piece). |
| Gross-margin bridge | COGS steps down 34% → 30% of sales (scale + owned lab, from 2030, $150K capex). Blended gross margin ~66% (2025) → 73% (2036). |
| HQ / corporate | AI-native back office → HQ people ≈ ~4% of sales at maturity (vs 8–10% for a traditional chain). CAC falls $21 (2025) → $13 (2036); marketing ~9.5% of sales at maturity. |
The round & funding
| Equity raise | US$3.5M (this round) · pre-money $7.0M → post-money $10.5M · $69.45/share · new investors 33.3%. |
| Debt facility | US$1.3M revolving (BAC), drawn 2029–2031 when EBITDA is already positive. Total funding $4.8M. |
| Peak funding need | ~$4.4M cumulative, in 2032 — covered by the equity + debt; cash stays positive through the build. |
| Use of proceeds | Store roll-out capex (~$7.0M cumulative 2025–34) + pre-breakeven operating investment. Owned lab (2030) is part of the plan. |
| Returns (model) | Illustrative at a 10× EV/EBITDA exit in 2036 (equity value ~$86M): new investors ~5.9× MOIC / ~20% IRR; blended deal ~16.6× / ~33% IRR. Model output — not a guarantee. |
Path to profitability
EBITDA turns positive in 2029 ($247K) and scales to $7.5M by 2036; net income turns positive in 2030. The pre-2029 losses are the funded investment in building an owned, AI-run network — not structural. Once the base matures, ~73% gross margin drops through a fixed cost base and EBITDA margin expands toward the mid-20s%.
Reference point: Fielmann (best-in-class European optical, €2.4B) runs ~24% EBITDA. OKIO's model reaches similar economics at ~1/80th the scale because the AI layer replaces the corporate overhead.