Overview
Performance
Capital & Returns
Business Health
Last Updated: July 20, 2026, financials through 5/31/26, June close pending
Deal Snapshot
Operating Performance
Revenue & Adjusted EBITDA (by Year)
Enterprise Value Progression
TCS Business Health KPIs
Financial Performance - Actuals & Projections
| Metric | Year 0 FY2024 |
Year 1 FY2025 |
Year 2 FY2026 |
Year 3 FY2027 |
Year 4 FY2028 |
Year 5 FY2029 |
|---|
EBITDA Margin Trend
Revenue Growth YoY ($)
Leverage & Coverage
Investor Returns
Scenario Analysis - Exit Returns
Based on annual pWin-weighted pipeline forecast of - revenue / - net profit across - active deals. 5% organic growth applied after pipeline capture.
| Scenario | Pipeline Capture | Exit Year | Exit EBITDA | Exit Multiple | Exit EV | MoM | Gross IRR |
|---|---|---|---|---|---|---|---|
| Downside | 0% (status quo) | 2029 | - | 5.5x | - | - | - |
| Base | 50% | 2029 | - | 6.0x | - | - | - |
| Upside | 100% | 2029 | - | 7.0x | - | - | - |
Capital Structure
| At Close (April 2024) | ||
|---|---|---|
| FBOL - SBA | $5,000,000 | 10.75% |
| FBOL - PP (Pari Passu) | $711,000 | 10.75% |
| Total FBOL Debt | $5,711,000 | |
| Seller's Note - 10yr | $1,250,000 | 11.00% |
| Seller's Note - Balloon | $500,000 | 11.00% |
| Total Seller's Notes | $1,750,000 | |
| LP Equity | $400,000 | |
| Total Capitalization | $7,861,000 | |
| Current (5/31/26 Actuals) | ||
|---|---|---|
| FBOL - SBA | $4,379,126 | ↓ $620.9K paid |
| FBOL - PP (Pari Passu) | $592,534 | ↓ $118.5K paid |
| Total FBOL Debt | $4,971,660 | ↓ $739.3K |
| Seller's Note A (10yr) | $500,000 | At par |
| Seller's Note B (Balloon) | $1,250,000 | At par |
| Total Seller's Notes | $1,750,000 | |
| Due to Seller (net) | $18,451 | |
| LP Equity Invested | $400,000 | |
| Distributions to LPs | ($50,000) | Paid 2024 |
| Cash on Hand | $1,244,244 | |
TCS Key Performance Indicators
Recommended Investor Metrics
Net Debt Over Time
Leverage Ratio (Net Debt / EBITDA)