Assertion Supported
Adler: Flume Installs in 10 Minutes Without Plumbers or Pipe Cutting
“You don't need a plumber come out. You don't need to break any pipes. You can install it in about 10 minutes, and you have leak detection and water monitoring across your entire property, both indoor and outdoor. No one's been able to do that, and that's kind …”
Disclosure
Adler: Flume avoids consumer subscription fees, monetizing data via third parties
“So we'd like to not, you know, burden the consumer market with another subscription fee that you have to pay for and find ways to get that revenue from kind of third parties that we're working with.”
Assertion Supported
Adler: About 50% of US Homes Have Experienced Water Damage
“About 50% of homes throughout the country have had water damage, so once someone has experienced that, they never want it to happen again, and spending a 199 bucks to fix that problem is a pretty nominal cost.”
Assertion Not checkable as stated
Adler: Flume spent $2M in capital before generating its first revenue
“Believe it was about two million before we got our first dollar revenue, which is pretty low actually for an IOT company.”
Assertion Supported
Adler: Hippo Insurance actively seeks residential water usage and leak data
“They are looking for data on water usage and leaks.”
Disclosure
Adler: Flume hardware cost of goods is under $100 overseas
“I can't tell you exactly what our cost of goods are, but I can say, you know, it's under a hundred dollars per unit.”
Disclosure
Adler: Flume Water's Initial California Unit COGS Was Around $130
“When we initially started out, our cost of goods was hovering around a 130 dollars in California.”
Assertion Partly supported
Adler: San Antonio utility pays Flume $150 rebate per unit
“San Antonio is paying us a 150 dollars in rebates per unit that we sell. So for customers, they only have to pay 50 bucks and we're able to still gather that 150 dollar cost for the 150 dollar revenue.”
Assertion Not checkable as stated
Adler: Utilities pay Flume roughly $1 per user monthly for SaaS portal
“It's small, you know, we're talking like a dollar per user per month.”
Assertion Not checkable as stated
Adler: Flume is approaching 10,000 deployed units
“We're approaching like 10,000 units.”
Assertion Not checkable as stated
Adler: About 60% of Flume's 10,000 units sold through Amazon
“Probably about 60% of them have come from Amazon.”
Assertion Not checkable as stated
Adler: Flume's SaaS revenue is in the low thousands per month
“It's small. Yeah. If you're in a, it's in that ballpark, low, low thousands.”
Assertion Not checkable as stated
Adler: Flume gross monthly burn is a few hundred thousand dollars
“You know, we're burning a few hundred grand per month right now. You know, we're not at profitability yet by any means.”
Assertion Not checkable as stated
Adler: Flume consumers check the water monitoring app every two days
“On average right now, we have customers that are checking in on the app about once every two days.”
Assertion Not checkable as stated
Adler: Flume Water Sells About 1,000 Units Per Month
“We're doing in the ballpark about a thousand units per month.”
Assertion Not checkable as stated
Adler: Flume Water Grew Unit Sales 7x Year-Over-Year
“We were doing like a hundred units every other month. So we were doing basically nothing. You know, it's in the ballpark seven X growth from last year.”
Assertion Not checkable as stated
Adler: About 5% of Flume Customers Pay an Annual Recurring Fee
“We have about five percent of our customers right now that actually are paying a recurring annual fee.”
Disclosure
Adler: Flume's Customer Acquisition Cost Is 25% to 35% of Retail Price
“I can't give you our exact hack but, you know, we're sitting in the I'll just say 25 to 35 percent of our overall price.”
Assertion Not checkable as stated
Adler: Only ~25,000 of 70M Single-Family Homes Have Smart Water Monitors
“There's seventy million single family homes out there only about, including our competition, only about 25,000 of them have some sort of smart water monitoring system.”
Assertion Supported
Adler: Flume Water hardware retails for $199 on Amazon and DTC
“The hardware is going to cost you one nine nine. So you can buy it on Amazon. You can buy it on our website, but it's 109 nine dollars right now online.”
Disclosure
Adler: Flume raised three convertible note rounds before $3M priced round
“First round total was 250 K second. It's a very small 1,000,003rd, 750. So these were all convertible notes at basically multiple caps that kept growing. And then recently we did three million on a priced equity round.”
Assertion Not checkable as stated
Adler: Flume Water lost only one person in four years
“We've only lost one person over the past four years of business.”
