Condeco

15 statements across 1 episodes · 5 bullish · 0 bearish · 1 people on the record · first statement Feb 5, 2020 by Paul Statham · said 33 times in 1 episodes since 2020 · across every show →

Mentions by year

brought up most by Nathan Latka (31), Paul Statham (2)

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2020 33 mentions in 1 episode

1656 With $40m in ARR, He's Helping Office Owners Manage Rooms and Scheduling Feb 5, 2020 · 33 mentions · from 0:11
every mention in 2020, scene by scene →

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Everything said about Condeco, oldest first

Feb 5, 2020 neutral

Assertion Not checkable as stated

Statham: 50% of Condeco Clients Use Hardware, Retention Matches Software Only

“50, 50% of our clients use our hardware. The rest of them are just software. And our retention is similar on both.”

Paul Statham Feb 5, 2020 ▶ 14:04 1656 With $40m in ARR, He's Helping Office Owners Manage Rooms and Scheduling

Feb 5, 2020

Assertion Not checkable as stated

Statham: Condeco CAC is roughly $200 for a $300/year room

“So if you break it down on a cost per acquisition for each room, it's around for a 300 dollar a year room, our cost of acquisition is coming out around 200 dollars.”

Paul Statham Feb 5, 2020 ▶ 15:34 1656 With $40m in ARR, He's Helping Office Owners Manage Rooms and Scheduling

Feb 5, 2020 positive

Disclosure

Paul Statham: Condeco achieves roughly 122% net revenue retention

“And our net retention is about a 122%.”

Paul Statham Feb 5, 2020 ▶ 3:14 1656 With $40m in ARR, He's Helping Office Owners Manage Rooms and Scheduling

Feb 5, 2020

Assertion Not checkable as stated

Statham: Condeco had $12M to $15M revenue at funding

“About fifteen million dollars, 12, twelve million dollars.”

Paul Statham Feb 5, 2020 ▶ 9:39 1656 With $40m in ARR, He's Helping Office Owners Manage Rooms and Scheduling

Feb 5, 2020 positive

Assertion Not checkable as stated

Statham: Condeco hardware gross margins are close to software margins

“They, professional services were discounted, but the hardware, because we manufacture it ourselves and it's got some unique properties within it. Our gross margin on our hardware is Fairly much quite, quite close to our gross margin on our software. So they we…”

Paul Statham Feb 5, 2020 ▶ 12:57 1656 With $40m in ARR, He's Helping Office Owners Manage Rooms and Scheduling

Feb 5, 2020

Assertion Not checkable as stated

Statham: Condeco Has 100 Sales and Marketing Staff

“No, we have a, we have over in our total sales team, sales and marketing accounts for about a hundred people within the business. We have a 10 man inside sales team. We have a 35 man outside sales team. We have channel teams. We have marketing teams.”

Paul Statham Feb 5, 2020 ▶ 6:55 1656 With $40m in ARR, He's Helping Office Owners Manage Rooms and Scheduling

Feb 5, 2020 bullish

Assertion Not checkable as stated

Statham: Condeco overall revenue is growing nearly 30% YoY, SaaS 40%

“We're going around just under 30% year on year, and our SaaS revenue is growing at around 40% year on year.”

Paul Statham Feb 5, 2020 ▶ 7:50 1656 With $40m in ARR, He's Helping Office Owners Manage Rooms and Scheduling

Feb 5, 2020

Disclosure

Statham: Condeco charges $30/month to $800/year per managed room or desk

“It varies wildly, but depending on the size of the scale, but somewhere in a few hundred dollars, it starts at a few hundred dollars a year. So it can start as low as 30, 40 dollars a month. If you have it with all of the additions with signage and screens, it…”

Paul Statham Feb 5, 2020 ▶ 4:34 1656 With $40m in ARR, He's Helping Office Owners Manage Rooms and Scheduling

Feb 5, 2020 neutral

Disclosure

Paul Statham: Condeco generates 45% of revenue from subscriptions

“45% of our revenue is now through our subscription. About 20% is through services, and the rest is through hardware.”

Paul Statham Feb 5, 2020 ▶ 2:25 1656 With $40m in ARR, He's Helping Office Owners Manage Rooms and Scheduling

Feb 5, 2020 positive

Disclosure

Paul Statham: Condeco maintains a 95% gross logo retention rate

“You know, we still have a 95% retention rate, which we're very pleased with.”

Paul Statham Feb 5, 2020 ▶ 2:58 1656 With $40m in ARR, He's Helping Office Owners Manage Rooms and Scheduling

Feb 5, 2020

Assertion Supported

Statham: Condeco Migrated Completely from Perpetual Licenses to SaaS in 2015

“We started life back in the day as a perpetual license company. We migrated in 2015 to entirely SAS.”

Paul Statham Feb 5, 2020 ▶ 6:28 1656 With $40m in ARR, He's Helping Office Owners Manage Rooms and Scheduling

Feb 5, 2020 positive

Disclosure

Statham: Condeco bootstrapped for 16 years before raising Highland capital

“Yeah, that's the only capital. We were bootstrapped for the first 16 years of our life. And we then because of our expansion was just getting so great that we took on some capital from Highland Europe.”

Paul Statham Feb 5, 2020 ▶ 8:06 1656 With $40m in ARR, He's Helping Office Owners Manage Rooms and Scheduling

Feb 5, 2020

Assertion Not checkable as stated

Statham: Condeco Has Around 1,200 Total Customers

“Our total customer base is around 1200.”

Paul Statham Feb 5, 2020 ▶ 6:46 1656 With $40m in ARR, He's Helping Office Owners Manage Rooms and Scheduling

Feb 5, 2020

Disclosure

Statham: Condeco SaaS customer spend ranges from $2K to $40K monthly

“We have our, probably our smallest SAS is paying us around a couple of thousand dollars a month, and our largest could be paying us 30, 40,000 dollars a month.”

Paul Statham Feb 5, 2020 ▶ 4:07 1656 With $40m in ARR, He's Helping Office Owners Manage Rooms and Scheduling

Feb 5, 2020

Assertion Not checkable as stated

Statham: Condeco generates roughly $4M in monthly revenue

“Yeah, we have about, it's about four million bucks in revenue. Per month, yeah.”

Paul Statham Feb 5, 2020 ▶ 9:21 1656 With $40m in ARR, He's Helping Office Owners Manage Rooms and Scheduling

Condeco

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