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Jan 17, 2023 · 17m · top-founders

Evotix hits $17m ARR, 6 Months from breakevent, 5+ Year Track record of 40% YoY Growth

Matthew Allison · 8m spoken Nathan Latka · 6m spoken
0:00 / 0:00

gold bands on the timeline = statements, start to end. Hover to read, click to jump. CC turns on captions

Host Nathan Latka interviews Matthew Allison, CEO of Evotix, exploring how the Environment, Health, and Safety (EHS) software platform scaled to $17 million in ARR with 40% year-over-year growth while maintaining capital discipline and approaching cash flow breakeven.

How this conversation actually went

Every chapter scored 0–10 on four independent dynamics. Hover any point for the reasoning behind the score. Nathan holds 43.7% of the talking time here. How this is scored →

Nathan as informed peer 5.4 Guest teaching 2.6 Guest disagreement 0.4 Nathan pushing back 2.4
05100:0010:000:00–4:00 · Nathan as informed peer 5/10 Promotion for SaaS Open 2023 in New York City Nathan introduces the company's financial overview and invites Matthew to outline Evotix's ideal customer profile and historical origins. The segment is welcoming and conversational with no disagreement.4:01–7:41 · Nathan as informed peer 6/10 Evotix Financials, Retention Rates, and Sales Organization Nathan drills into net retention metrics, churn breakdown, and team responsibilities between success reps and account managers. Matthew corrects Nathan regarding currency exchange differences between sterling and US dollars.7:41–11:39 · Nathan as informed peer 5/10 Product Innovation, Operational Workflows, and ESG Strategy Matthew explains how their Learn module integrates micro-video safety procedures directly into factory workflows. Nathan probes industry vertical breakdowns and asks about the expansion into employee wellbeing and ESG.11:39–15:33 · Nathan as informed peer 6/10 Valuation Realities, Cash Runway, and M&A Strategy Nathan pushes Matthew to quantify exact monthly cash burn and runway months remaining ahead of breakeven. Matthew corrects Nathan's miscalculation regarding how many months remain until profitability.15:33–16:50 · Nathan as informed peer 5/10 Famous Five Rapid-Fire Questions with Matthew Allison Nathan conducts the Famous Five rapid-fire segment, noting that Matthew provided consistent answers to previous interviews. Matthew briefly updates his age and shares reflections on patience in entrepreneurship.0:00–4:00 · Guest teaching 1/10 Promotion for SaaS Open 2023 in New York City Nathan introduces the company's financial overview and invites Matthew to outline Evotix's ideal customer profile and historical origins. The segment is welcoming and conversational with no disagreement.4:01–7:41 · Guest teaching 4/10 Evotix Financials, Retention Rates, and Sales Organization Nathan drills into net retention metrics, churn breakdown, and team responsibilities between success reps and account managers. Matthew corrects Nathan regarding currency exchange differences between sterling and US dollars.7:41–11:39 · Guest teaching 3/10 Product Innovation, Operational Workflows, and ESG Strategy Matthew explains how their Learn module integrates micro-video safety procedures directly into factory workflows. Nathan probes industry vertical breakdowns and asks about the expansion into employee wellbeing and ESG.11:39–15:33 · Guest teaching 4/10 Valuation Realities, Cash Runway, and M&A Strategy Nathan pushes Matthew to quantify exact monthly cash burn and runway months remaining ahead of breakeven. Matthew corrects Nathan's miscalculation regarding how many months remain until profitability.15:33–16:50 · Guest teaching 1/10 Famous Five Rapid-Fire Questions with Matthew Allison Nathan conducts the Famous Five rapid-fire segment, noting that Matthew provided consistent answers to previous interviews. Matthew briefly updates his age and shares reflections on patience in entrepreneurship.0:00–4:00 · Guest disagreement 0/10 Promotion for SaaS Open 2023 in New York City Nathan introduces the company's financial overview and invites Matthew to outline Evotix's ideal customer profile and historical origins. The segment is welcoming and conversational with no disagreement.4:01–7:41 · Guest disagreement 1/10 Evotix Financials, Retention Rates, and Sales Organization Nathan drills into net retention metrics, churn breakdown, and team responsibilities between success reps and account managers. Matthew corrects Nathan regarding currency exchange differences between sterling and US dollars.7:41–11:39 · Guest disagreement 0/10 Product Innovation, Operational Workflows, and ESG Strategy Matthew explains how their Learn module integrates micro-video safety procedures directly into factory workflows. Nathan probes industry vertical breakdowns and asks about the expansion into employee wellbeing and ESG.11:39–15:33 · Guest disagreement 1/10 Valuation Realities, Cash Runway, and M&A Strategy Nathan pushes Matthew to quantify exact monthly cash burn and runway months remaining ahead of breakeven. Matthew corrects Nathan's miscalculation regarding how many months remain until profitability.15:33–16:50 · Guest disagreement 0/10 Famous Five Rapid-Fire Questions with Matthew Allison Nathan conducts the Famous Five rapid-fire segment, noting that Matthew provided consistent answers to previous interviews. Matthew briefly updates his age and shares reflections on patience in entrepreneurship.0:00–4:00 · Nathan pushing back 0/10 Promotion for SaaS Open 2023 in New York City Nathan introduces the company's financial overview and invites Matthew to outline Evotix's ideal customer profile and historical origins. The segment is welcoming and conversational with no disagreement.4:01–7:41 · Nathan pushing back 4/10 Evotix Financials, Retention Rates, and Sales Organization Nathan drills into net retention metrics, churn breakdown, and team responsibilities between success reps and account managers. Matthew corrects Nathan regarding currency exchange differences between sterling and US dollars.7:41–11:39 · Nathan pushing back 2/10 Product Innovation, Operational Workflows, and ESG Strategy Matthew explains how their Learn module integrates micro-video safety procedures directly into factory workflows. Nathan probes industry vertical breakdowns and asks about the expansion into employee wellbeing and ESG.11:39–15:33 · Nathan pushing back 5/10 Valuation Realities, Cash Runway, and M&A Strategy Nathan pushes Matthew to quantify exact monthly cash burn and runway months remaining ahead of breakeven. Matthew corrects Nathan's miscalculation regarding how many months remain until profitability.15:33–16:50 · Nathan pushing back 1/10 Famous Five Rapid-Fire Questions with Matthew Allison Nathan conducts the Famous Five rapid-fire segment, noting that Matthew provided consistent answers to previous interviews. Matthew briefly updates his age and shares reflections on patience in entrepreneurship.

speaking balance: gold is Nathan, purple is the guest (3 minute bins)

0:00 · Nathan 80.7% · guest 19.3%0:00 · Nathan 80.7% · guest 19.3%3:00 · Nathan 31.9% · guest 68.1%3:00 · Nathan 31.9% · guest 68.1%6:00 · Nathan 36.3% · guest 63.7%6:00 · Nathan 36.3% · guest 63.7%9:00 · Nathan 22.6% · guest 77.4%9:00 · Nathan 22.6% · guest 77.4%12:00 · Nathan 38% · guest 62%12:00 · Nathan 38% · guest 62%15:00 · Nathan 54.2% · guest 45.8%15:00 · Nathan 54.2% · guest 45.8%
Sharpest disagreement ▶ 14:04 Timeline to Breakeven Correction

Matthew firmly rejects Nathan's framing that breakeven will take 12 to 16 months, asserting it will occur by mid-year.

 Hardest push from Nathan ▶ 13:24 Demanding Concrete Burn Numbers

Nathan refuses vague assertions of controlled burn and forces Matthew to specify whether net burn is closer to $100k or $1M per month.

 Biggest teaching moment ▶ 7:13 Clarifying ARR Currency Discrepancy

Matthew corrects Nathan's assumption about revenue growth by clarifying that the £15M ARR figure is in pounds sterling, translating to ~$17M USD.

 Nathan holds their own ▶ 11:59 Recapping Historical Funding and Valuation

Nathan demonstrates mastery of Evotix's corporate history by reciting their exact Series A and Series B rounds and previous valuation metrics.
the scores for every segment, with the reasoning behind each
ChapterTopicNathan as informed peerGuest teachingGuest disagreementNathan pushing backWhy
Promotion for SaaS Open 2023 in New York City 5100 Nathan introduces the company's financial overview and invites Matthew to outline Evotix's ideal customer profile and historical origins. The segment is welcoming and conversational with no disagreement.
Evotix Financials, Retention Rates, and Sales Organization 6414 Nathan drills into net retention metrics, churn breakdown, and team responsibilities between success reps and account managers. Matthew corrects Nathan regarding currency exchange differences between sterling and US dollars.
Product Innovation, Operational Workflows, and ESG Strategy 5302 Matthew explains how their Learn module integrates micro-video safety procedures directly into factory workflows. Nathan probes industry vertical breakdowns and asks about the expansion into employee wellbeing and ESG.
Valuation Realities, Cash Runway, and M&A Strategy 6415 Nathan pushes Matthew to quantify exact monthly cash burn and runway months remaining ahead of breakeven. Matthew corrects Nathan's miscalculation regarding how many months remain until profitability.
Famous Five Rapid-Fire Questions with Matthew Allison 5101 Nathan conducts the Famous Five rapid-fire segment, noting that Matthew provided consistent answers to previous interviews. Matthew briefly updates his age and shares reflections on patience in entrepreneurship.

Statements from this episode (7)

Assertion Not checkable as stated
Allison: Most mid-market EHS target customers still use pen and paper
“Lots of our target customers are still doing that with pen and paper and Excel spreadsheets. Obviously that's inefficient. It's difficult to demonstrate your compliance and you can't really learn anything from your data.”
Matthew Allison Jan 17, 2023 ▶ 2:51
Assertion Supported
Allison: Evotix will finish fiscal year at £15M ARR with 40% growth
“Yeah, so we will end our financial year on about fifteen million of sterling of ARR. One, five million? 15, one, five, fifteen million, yes. And so that'll be 40% growth for us.”
Matthew Allison Jan 17, 2023 ▶ 4:15
Assertion Not checkable as stated
Allison: Evotix maintains 110% to 115% net retention
“So we're at a 110, 115% net retention. So we're expanding existing customers, but the core for us is new logo acquisition.”
Matthew Allison Jan 17, 2023 ▶ 4:51
Assertion Not checkable as stated
Allison: Evotix experiences 5% gross churn and 15%+ expansion
“So we're churning about five percent. And so expansion then is, is 15% plus.”
Matthew Allison Jan 17, 2023 ▶ 5:08
Assertion Not checkable as stated
Allison: Manufacturing represents approximately 20% of Evotix's revenue
“Manufacturing is the biggest, but that'll be about 20%, so we've got pretty good referenceability across a number of sectors.”
Matthew Allison Jan 17, 2023 ▶ 9:56
Prediction Not checkable as stated
Allison: Evotix Will Reach Cash Flow Breakeven by Mid-2023
“So we will be cash break even by the middle of next year, or middle of this year rather now.”
Matthew Allison Jan 17, 2023 ▶ 13:16
Assertion Not checkable as stated
Allison: Evotix Monthly Net Burn Is Closer to $100K Than $1M
“Oh, oh, closer to a hundred grand than the million.”
Matthew Allison Jan 17, 2023 ▶ 13:29
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