Insight
Ford: Focusing on profitability drives more growth than hyper-spending
“And I think by actually focusing on profitability, it actually allowed us to grow more. Like maybe this, there's this perception out there. Like if you're not like spending on your socks and just focusing on growth, you're not innovating or you're not like, yo…”
Assertion Not checkable as stated
Ford: Prism.fm kept roughly 100 of 120 venue customers through COVID
“We also didn't turn a lot during the pandemic, which I think was a major testament to the technology. Like we went in with let's call it a 120 customers. And we came out with, of those a 120, we came out with, you know, a solid a hundred of them. Like we didn'…”
Prediction Not checkable as stated
Ford sees clear runway for Prism to reach $15M-$20M ARR
“And you know, there's a clear, like I see a clear runway right now to get the company, you know, it's a 15, twenty million in recurring revenue. And it's just my own kind of calculations and willingness to hold on.”
Prediction Not checkable as stated
Ford: Prism.fm has a strong shot at reaching profitability without raising again
“But with the money that we have in the bank, we have a really good shot at just not raising again and going to profitability if that's what we choose.”
Prediction Not checkable as stated
Ford predicts Prism.fm will achieve live music ubiquity within six months
“Our eyes are set on being the ubiquitous software solution for the live music industry. And I think in the next six months, we're going to see that happen.”
Opinion
Ford: General CRMs like Salesforce and HubSpot fail for concert operations
“The process of putting on a concert is this extremely detail oriented. So something like Salesforce or HubSpot just doesn't work all that well.”
Prediction Not checkable as stated
Ford: Live music will see unprecedented volume if COVID clears by fall
“So get ready for like, God willing that, you know, this is cleared by the fall. If it is, Get ready for the most crazy, you know, lineup of live music concerts you've ever seen. Like all the festivals are rescheduled to the fall, all the major tours. There's g…”
Assertion Not checkable as stated
Ford: Prism.fm has grown revenue 5x since pandemic trough
“We've, you know, five X our revenue since the bottom of the trough.”
Assertion Not checkable as stated
Ford: Prism achieves 110% total net retention and 127% in key segment
“With one of our customer segments, it's segments. It's net retention of 127% and across our whole customer base, it's 110%.”
Insight
Ford: Multi-Sided Adoption of Prism Eliminates Live Music Data Entry
“If a promoter and a venue is both using Prism, there's a really enhanced kind of efficient show that gets planned. But if, you know, if they're not using Prism, then they have to do an amazing amount of data entry. So we've created this like network effect kin…”
Assertion Not checkable as stated
Ford: Prism secures new customer ACV above $11,000
“But to date, today we're getting an ACV like above 11,000.”
Assertion Not checkable as stated
Ford estimates Prism's full network payment volume at over $800M for 2023
“If we were, if we had the full network utilizing payments, it's over eight hundred million dollars... That's the projection for this 12 months, for twenty-twenty-three.”
Assertion Not checkable as stated
Ford: Prism.fm emerged from the pandemic with double its prior revenue
“We ended up emerging with twice as much revenue as we had.”
Disclosure
Ford: Prism.fm reached 20 customers in talent agency beta
“We added talent agents as a new business line during the pandemic. We're about six months into a beta. We have Around 20 customers”
Assertion Not checkable as stated
Ford: Prism.fm has multiple customers paying over $250,000 annually
“But now we have a customer paying us over 250,000 dollars a year and they're not alone.”
Assertion Not checkable as stated
Ford: Prism.fm has approximately 240 venue and promoter customers
“Somewhere around 240.”
Assertion Not checkable as stated
Ford: Prism.fm's average customer pays $7,000 per year
“No, on average, it's seven K a year.”
Assertion Not checkable as stated
Prism.fm Series A post-money valuation was under $60M
“We were less than that.”
Assertion Not checkable as stated
Ford: Prism.fm platform tracks billions in annual payment volume
“It's in the billions. Yeah. I don't want to give you too specific of a number. ... Billions.”
Assertion Not checkable as stated
Ford: Prism FM serves 150 accounts across 1,600 venues
“So we have a 150 unique accounts. And they're going into over 1600 venues now around the country.”
Assertion Not checkable as stated
Prism FM maintains 17 months of cash runway under worst-case projections
“I mean, in our most pessimistic projections, we're around 17 months. And our most optimistic projections were, you know, back to profitability and we can just decide on how we want to intelligently grow the company.”
Assertion Not checkable as stated
Prism FM doubled revenue between August 2019 and March 2020
“Yeah, no, since, since August, we doubled the company in terms of revenue. That was the case in March. At the end of March.”
Assertion Not checkable as stated
Ford: Prism has surpassed 300 customers
“And we're above 300 customers now.”
Assertion Not checkable as stated
Ford: Prism employs 17 engineers out of 27 full-time staff
“We have, of that 27, I believe 17.”
