Ann: Acquisition of LIFX and Share Placement, page-165

For LIFX only.. Cost of revenue is roughly 70% of total revenue. If this remains consistent, then Revenue needs to increase by 90% this year.
Expenses have increased around 41% each year for the past 2 years, so if this rate is the same, then as a % of revenue this is low enough to have operating income positive.

If costs of revenue can be reduced as a proportion of total revenue, then the revenue growth can be less than 90%.

There is also interest and other costs to be subtracted to get the final EBITDA, which was around $900k in 2018

	Column 1	Column 2	Column 3	Column 4	Column 5	Column 6	Column 7	Column 8	Column 9
1	LIFX		31-Dec-16	31-Dec-17	31-Dec-18	31-Dec-19
2	Rev		$1,1333,587	$  22,657,279.00	$  38,480,509.00	$  73,112,967.10
3				100%	70%	90%
4	Cost of Rev		$7,905,821	$  14,706,669.00	$  27,401,365.00	$  50,966,538.90
5	% of cost compared to Rev		70%	65%	71%	70%
6
7	Gross Margin		$ 3,427,766.00	$ 7,950,610.00	$  11,079,144.00	$  22,146,428.20
8
9	Expenses		7343479	$  10,502,702.00	$  14,831,408.00	$  20,912,285.28
10	% Increase in expenses			43%	41%	41%
11	% of exp compared to Rev		65%	46%	39%	29%
12
13	Operating Income		-$ 3,915,713.00	-$ 2,552,092.00	-$ 3,752,264.00	$ 1,234,142.92
14
15
16
17
18
19
20