Assertion certainty 4/5 debate potential 1/5

Cornish: Moth & Flame did $2.5M revenue prior year, $200K recurring

Kevin Cornish · VR Builder SaaS Hits $5m Revenue, Targeting $10m Series A Now · Feb 2, 2022 · at 6:48

Kevin Cornish, founder and CEO of VR software company Moth & Flame, describes his revenue history to Nathan Latka.

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“Last year, we did two and a half in revenue, and like, 200 of that was recurring.”

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More from Kevin Cornish

Assertion Not checkable as stated
Cornish: Moth & Flame hit $5M revenue this year, $2M recurring
“This year, we did five in revenue, two million was recurring.”
Kevin Cornish Feb 2, 2022 ▶ 6:59 VR Builder SaaS Hits $5m Revenue, Targeting $10m Series A Now
Prediction Not checkable as stated
Cornish: Moth & Flame recurring revenue will reach ~70% next year
“And next year we see that number getting up probably towards 70% of it being recurring.”
Kevin Cornish Feb 2, 2022 ▶ 7:04 VR Builder SaaS Hits $5m Revenue, Targeting $10m Series A Now
Insight
Cornish: VR adoption is limited by content, solved by off-the-shelf pricing
“The challenge with virtual reality is there's not a lot of content out there. So off the shelf content means they only need to pay for their usage, which means they don't need to have huge upfront startup costs.”
Kevin Cornish Feb 2, 2022 ▶ 8:38 VR Builder SaaS Hits $5m Revenue, Targeting $10m Series A Now
Disclosure
Moth & Flame charges $4,500 to $8,500 monthly for enterprise VR
“Pricing is based on TAM. So we got kind of two categories. One is on a per experience base basis. So these are for things where the TAM is smaller, smaller user base. So that's at a 4565 hundred, or 8500 a month, depending on kind of the different, different f…”
Kevin Cornish Feb 2, 2022 ▶ 1:59 VR Builder SaaS Hits $5m Revenue, Targeting $10m Series A Now
Assertion Not checkable as stated
Cornish: VR hiring simulations cut child welfare worker churn by 30%
“In the first year of doing that, they cut the churn by 30%.”
Kevin Cornish Feb 2, 2022 ▶ 5:20 VR Builder SaaS Hits $5m Revenue, Targeting $10m Series A Now
Assertion Not checkable as stated
Moth & Flame's average annual customer contract value is $78,000
“The 78,000. That's 6500 a month times 12.”
Kevin Cornish Feb 2, 2022 ▶ 5:44 VR Builder SaaS Hits $5m Revenue, Targeting $10m Series A Now
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