Assertion Not checkable as stated
Carnelli: Truelytics is the first transition management SaaS for wealth advisors
“So it's that, and it's the first one of its kind. Up until this point, the industry's really been dominated by professional services.”
Disclosure
Truelytics mandates investment bank to pursue strategic investment or sale
“We just we just actually gave a mandate to an investment bank yesterday after, after going through a pretty rigorous process. And they are going to help us either look for well, generally help us find a strategic. I think that's their mandate.”
Assertion Contradicted
Carnelli: Wealth management needs 250,000 new advisors to meet demand
“And I think Sorelli and associates predicts that the industry needs to recruit and or bring in 250,000 new financial advisors just to meet current demands.”
Assertion Partly supported
Carnelli: Truelytics counts Fidelity and LPL among top enterprise customers
“As far as our top enterprise customers are concerned, we work with Cetera, LPL Capital Group, HD Vest, Brinker Carson Group Advisor Group Fidelity, the like, the likes of that.”
Disclosure
Truelytics counts 7,500 advisory firms across 16 enterprise relationships
“It's 7500 independent financial advisory firms. Now, the bulk of that, 90% of that came from the wealth management enterprises, of which we have 16 of those enterprise relationships.”
Disclosure
Truelytics charges an average ACV of $70k on three-year contracts
“So the average annual contract value is 70,000 dollars, and they pay that they sign up for three-year contracts.”
Assertion Not checkable as stated
Carnelli: Truelytics raised over $3M exclusively from insiders and angels
“We've had two different rounds of fundraising early on when we, to acquire the IP was like, we raised about a million dollars generally from friends and family and some industry insiders. And then at the beginning of 2018, I think we did another two and a half…”
Assertion Not checkable as stated
Carnelli: Truelytics reached $122K MRR in 2019, up 109% year-over-year
“We ended 2019 with 122,000 in MRR. That was a 109% increase over 2018, which was at 53,915.”
Assertion Not checkable as stated
Carnelli: Truelytics posted -$540K EBITDA in 2019
“So our EBITDA last year, we weren't profitable last year. Again, we had about six months in the green, but we ended with -540,000 dollars and negative sort of 48% EBITDA.”
Disclosure
Carnelli: Truelytics cuts 2020 net new target to $600K max
“Instead of reaching for that Million as a net new reach target. It's now 600,000 at the high end. But if we finish the, if we close 250,000 of net new, we still end the year with a half million in the bank.”
Assertion Not checkable as stated
Truelytics reports $134K gross burn and $55K net monthly burn
“We have a monthly burn monthly, well, a monthly burn of 134,000, but given all of the current enterprise contracts, so that's gross. Our net burn is 55,000.”
Assertion Not checkable as stated
Truelytics closed 2019 with roughly $1.05M in enterprise ARR
“We ended in 2019 with about 1.1 million in in subscription revenue, enterprise subscription revenue, and Let's see that. So, and then the enterprise ARR on that is a million 1,047,000.”
Disclosure
Carnelli: Truelytics needs $100K-$200K in Q2 MSAs to avoid furloughs
“Basically, in Q-two, we want to at least have between a hundred to 200,000 dollars of signed MSAs in their first round of edits to meet our goal. Like, if we do that, we're not going to make, we're not going to take any additional action. If we don't, if we ha…”
Assertion Not checkable as stated
Carnelli: Truelytics contracts include a 10% annual price escalator
“So our terms allow us to increase the base subscription 10% every year.”
Assertion Not checkable as stated
Truelytics reports customer acquisition cost of $30,686 on $70,000 ACV
“So we are paying exactly 30,686 dollars.”
