LBA Ware takes over a year to break even on new clients
Lori Brewer · 1354 Mortgage Lending Software Passes $2m in ARR, Bootstrapped · Apr 9, 2019 · at 11:05
Lori Brewer explains LBA Ware's heavy onboarding and implementation costs to Nathan Latka.
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“The first year we're not making any money on that client because of resources that we extend for, you know, customization, ensuring that we migrate all their plans. It's, So yeah, I would say it's at least a year before we're making money.”
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More from Lori Brewer
LBA Ware has zero churn and zero failed implementations
“Our best stat, Nathan, is we've never lost a client and we've never had a failed implementation.”
LBA Ware is cash-flow positive and will not raise venture capital
“So we're not planning to take money, you know, at this point because we've, we are cashflow positive and you know, plan to increase, increase that.”
Brewer predicts 2019 will be a hotbed for mortgage industry M&A
“This year is, is going to be a hotbed of merger and acquisition activity.”
Brewer would reject a $10M buyout offer for LBA Ware
“No. ... I think we have far more value than that.”