ECRS
company on 1 show · 11 statements across 1 episodes · said 12 times in 1 episodes since 2019
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2019 12 mentions in 1 episode
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11 statements about ECRS, every show
The ECRS employee stock ownership plan will initially own a 30% stake
“We'll probably move to a 30% ownership where they'll have 30%. And so the ESOP will own 30% of ECRS and all the employees will, as we grow the value of the company together, of course their shares will grow as well. So they'll start at 30%, but it'll go furthe…”
Pete Catoe plans to transition his 100% ECRS ownership to an ESOP
“Right now I own the company. I own a hundred percent of it. And but we're going to be shifting to an ESOP over the next 24 months.”
Pete Catoe predicts ECRS will reach $100 million ARR by 2024
“I think it's going to be, it's going to take us over the next five years. We will hit a hundred million.”
ECRS customer acquisition costs run around 25% of initial contract value
“I think our sales calls are probably running around 25%, you know, to sign a customer up.”
ECRS experiences insignificant revenue churn and 2% logo churn annually
“So if we would probably lose two, two percent, maybe. Not revenue. Two percent of customers. I don't know what the revenue number is. It's insignificant.”
ECRS grows in 30% jumps followed by multi-year flat periods
“We just, we'll, we'll flatten out for a few years and then we jump up 30% and flatten out again and jump up.”
ECRS has 150 employees with 80% based in Boone, North Carolina
“We have about a hundred, we have a 150 employees, a 150 plus employees you know, probably, I don't know, we're adding someone every week, it seems now. And I would say 80% of them are based in, in Boone.”
Pete Catoe bootstrapped ECRS to $30M ARR with $7,000 in capital
“The company was bootstrapped. I think we started with like 7000 dollars.”
Software and recurring services account for 90% of ECRS revenue
“Yeah, there's professional services in there, there's hardware sales in there, but most, about 90% of it is software and software licenses and services.”