Capital Deployed
−$12.1M
27 batches, 6 campaigns
Total Fee Share
$31.6M
46.5% of gross referral revenue
Net Profit
+$19.5M
Fee share minus capital deployed
Portfolio MOIC
2.61×
Fee share ÷ capital deployed
Peak Drawdown
−$10.8M
Q3–Q4 2025 (after Roundup spend)
Breakeven
Q1 2027
Net cash position turns positive