Part 2 - Subscriptions ARR and Royalty Payments to end FY23 (JV...

Part 2 - Subscriptions ARR and Royalty Payments to end FY23 (JV and Beam Profits to follow as Part 3).

The purpose of this analysis is to show how quickly the ARR, Revenue and Royalties grow over the next 2 years. It does not matter so much if my analysis is 100% accurate or not; I would be very surprised if it turned out to be that. But it is my best estimate based on data already provided by Beam (refer to my last Post #: 56113328on 16 Sept 2021). See below Table for relevant Facts and Method used. Note that I have assumed a 70% Gross Profit Margin for the JV.

Quarter	Total Units in Use - World	Total Units in Use - ANZ	Total Units in Use - EU	Total Units in Use - NA	ARPU $AU	JV New ARR From Units Sold in Qtr ($,000)	JV ARR From all Units on Plans ($,000)	JV Revenue ($,000)	JV Gross Profit (70% GPM) ($,000)	Roadpost Royalties (70% of Territory GM) ($,000)	Beam Royalties (70% of Territory GM) ($,000)
3Q FY20	0	0	0	0	$38	$-	$-	$-	$-	$-	$-
4Q FY20	1,000	0	0	1,000	$38	$456	$456	$-	$-	$-	$-
1Q FY21	3,856	160	0	3,696	$38	$1,311	$1,767	$114	$80	$56	$-
2Q FY21	6,179	283	0	5,896	$38	$1,094	$2,862	$442	$309	$206	$8.9
3Q FY21	9,555	565	0	8,990	$40	$1,680	$4,542	$715	$501	$329	$16
4Q FY21	20,864	1,290	0	19,574	$45	$6,210	$10,752	$1,135	$795	$529	$33
1Q FY22	28,947	2,090	0	26,857	$45	$4,590	$15,342	$2,688	$1,882	$1,295	$85
2Q FY22	38,868	3,090	0	35,778	$45	$5,670	$21,012	$3,835	$2,685	$1,777	$138
3Q FY22	51,091	4,340	0	46,751	$45	$7,020	$28,032	$5,253	$3,677	$2,367	$204
4Q FY22	65,569	5,840	0	59,729	$45	$8,370	$36,402	$7,008	$4,906	$3,093	$287
1Q FY23	82,257	7,590	250	74,417	$45	$9,720	$46,122	$9,100	$6,370	$3,951	$386
2Q FY23	101,612	9,640	1,174	90,798	$45	$11,340	$57,462	$11,530	$8,071	$4,923	$502
3Q FY23	123,580	12,040	2,648	108,892	$45	$12,960	$70,422	$14,365	$10,056	$6,006	$638
4Q FY23	149,108	14,940	4,896	129,273	$45	$15,120	$85,542	$17,605	$12,324	$7,203	$796
Facts:	For method of estimating Units in Use, refer to my last Post #: 56113328on 16 Sept 2021
	Total ANZ units in use now disclosed by graph (numbers approx)
	Beam forecasts 15K subscribers across Beam’s territories by end of FY23
	ARPU disclosed by Beam
Method:	Start with data provided by Beam (Green highlights)
	Adopt Beam's expectation of 15,000 units in use in ANZ by end FY23
	Assume ARPU is the same in all regions
	ARR, JV Revenue, Gross Profit and Royalties are simply calculated based on units in each region, ARPU and Gross Margin
Note:	How quickly the Royalty payments to Beam ramp up (from $33,000 to $287,000 to $796,000 in the 4th Qtr of 3 FY's to FY23
	JV ARR reaches $85M by end FY23 and Beam's FY23 Royalty payments total $2.3M