Charlotte, North Carolina, United States
Industry: Visual Collab. software
Region: US 🇺🇸
Expected Valuation: $53.72 million
IPO Date: 2023 (expected)
Key Company Facts
|Industry||Visual collaboration software|
|Founders||Mike Feldman and Jim Morris|
|Number of employees||51-200 (2023)|
|IPO Date||2023 (expected)|
|Number of investors||54|
|Total funding||$7.4 million USD|
|Valuation estimate||$53.72 million USD|
Company Overview & History
T1V, standing for a Team with 1 Vision, is a visual collaboration software company that seeks to enhance the productivity of distributed teams.
The company’s ThinkHub® platform serves as a digital workspace, enabling real-time and flexible collaboration across various meeting environments, including in-room, hybrid, and virtual settings.
T1V’s software ecosystem is designed for total interoperability with today’s hybrid meeting and learning spaces’ devices, programs, and platforms, facilitating collaboration anytime, anywhere.
In addition to ThinkHub, T1V offers ThinkHub Education for active learning in higher education and T1V Story for unique brand experiences.
The company, recognized as a leading innovator in large-scale, interactive software technology, holds 19 issued patents in visual collaboration software.
T1V was founded by entrepreneurs who had previously successfully exited their first company.
The experience led them to emphasize the importance of maintaining core culture, which reflects in T1V’s mantra and the products they build to help teams connect, collaborate, and unite as they work toward a shared vision.
T1V is in the process of going public, with its IPO date yet to be disclosed. The company aims to offer 3.3 million shares, with the deal size estimated at $16.5 million.
T1V’s total market cap or net worth is approximately $55.68 million, with an enterprise value of $68.16 million. The company has 11.14 million shares outstanding.
In terms of its recent financial performance, T1V had revenue of $13.91 million in the last 12 months, with losses amounting to -$5.98 million, translating to a loss per share of -$0.54.
The company has a cash reserve of $142,928 and a debt of $12.62 million, which results in a net cash position of -$12.48 million or -$1.12 per share.
Over the past year, the company’s operating cash flow was -$1.85 million, with capital expenditures of -$745,707, leading to a free cash flow of -$2.60 million.
The gross margin is 51.25%, with operating and profit margins of -21.91% and -43.01%, respectively. Currently, T1V does not pay dividends.
T1V’s business model revolves around the provision of visual collaboration software that specializes in multitouch, multiuser applications for enterprise, education, and active learning environments.
The company’s suite of collaboration software represents total meeting room solutions, replacing much of the traditional hardware associated with meeting room technology.
One of T1V’s key features is its Bring Your Own Device (BYOD) technology, designed to support the myriad devices, programs, and platforms of today’s workforce.
The company’s approach is not to replace existing workflows but to support and streamline them, aiming to simplify complex processes.
This business model enables T1V to deliver solutions that are adaptable and easy to integrate into existing systems, enhancing productivity and collaboration for its users.
T1V, Inc., a company that provides visual collaboration software for enterprise, healthcare, and education markets, faces several risk factors. As a small and thinly capitalized company, T1V is up against industry giants, resulting in competitive disadvantages.
Their financial results have shown growing operating losses, fluctuating gross profit, dropping gross margin, and variable cash used in operations.
As of September 30, 2022, T1V had booked a fair market value investment of $10.2 million in equity from investors. However, their free cash flow during the twelve months ended on the same date was approximately negative ($2.0 million).
T1V operates in the visual collaboration software market which, according to a 2021 market research report by Verified Market Research, was estimated at $5.7 billion in 2019 and is projected to reach $17.2 billion by 2027. This represents a forecast compound annual growth rate (CAGR) of 13.5% from 2020 to 2027.
The growth in this sector is primarily driven by increasing demand from organizations adopting a more decentralized workforce and workflow as well as improved technology options from vendors.
The North American market is expected to retain the largest market share, while the Asia-Pacific market is expected to grow at a CAGR of over 19% through 2028.
- Lucid Software