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	COST OF GOODS SOLD (COGS)
	Cost of Revenue for Marketplace Operations - 60 Month Projection
				Year 1 (FY2026)												Year 2 (FY2027)												Year 3 (FY2028)												Year 4 (FY2029)												Year 5 (FY2030)
	Cost Category	Unit		Jan-26	Feb-26	Mar-26	Apr-26	May-26	Jun-26	Jul-26	Aug-26	Sep-26	Oct-26	Nov-26	Dec-26	Jan-27	Feb-27	Mar-27	Apr-27	May-27	Jun-27	Jul-27	Aug-27	Sep-27	Oct-27	Nov-27	Dec-27	Jan-28	Feb-28	Mar-28	Apr-28	May-28	Jun-28	Jul-28	Aug-28	Sep-28	Oct-28	Nov-28	Dec-28	Jan-29	Feb-29	Mar-29	Apr-29	May-29	Jun-29	Jul-29	Aug-29	Sep-29	Oct-29	Nov-29	Dec-29	Jan-30	Feb-30	Mar-30	Apr-30	May-30	Jun-30	Jul-30	Aug-30	Sep-30	Oct-30	Nov-30	Dec-30
	COST OF REVENUE COMPONENTS
	Payment Processing (% of GMV)	$		$1,631	$1,747	$1,866	$1,997	$2,138	$2,288	$2,447	$2,621	$2,804	$2,999	$3,208	$3,430	$4,563	$4,744	$4,937	$5,132	$5,336	$5,549	$5,772	$6,002	$6,243	$6,494	$6,756	$7,027	$8,465	$8,632	$8,805	$8,982	$9,165	$9,347	$9,535	$9,722	$9,914	$10,111	$10,314	$10,516	$12,374	$12,499	$12,627	$12,752	$12,880	$13,006	$13,131	$13,264	$13,402	$13,541	$13,676	$13,815	$15,321	$15,398	$15,475	$15,557	$15,632	$15,715	$15,792	$15,874	$15,949	$16,031	$16,108	$16,191
	Hosting / Infrastructure (per Order)	$		$375	$402	$429	$459	$492	$526	$563	$603	$645	$690	$738	$789	$885	$920	$958	$995	$1,035	$1,076	$1,120	$1,164	$1,211	$1,260	$1,310	$1,363	$1,374	$1,401	$1,429	$1,458	$1,487	$1,517	$1,547	$1,578	$1,609	$1,641	$1,674	$1,706	$1,659	$1,676	$1,693	$1,710	$1,727	$1,744	$1,761	$1,779	$1,797	$1,816	$1,834	$1,853	$1,668	$1,677	$1,685	$1,694	$1,702	$1,711	$1,720	$1,729	$1,737	$1,746	$1,754	$1,763
	Customer Support (per Order)	$		$900	$964	$1,030	$1,102	$1,180	$1,262	$1,350	$1,446	$1,547	$1,655	$1,770	$1,892	$1,967	$2,045	$2,128	$2,212	$2,300	$2,392	$2,488	$2,587	$2,691	$2,799	$2,912	$3,029	$2,919	$2,977	$3,036	$3,097	$3,160	$3,223	$3,288	$3,352	$3,419	$3,487	$3,556	$3,626	$3,556	$3,592	$3,629	$3,665	$3,701	$3,737	$3,773	$3,812	$3,851	$3,891	$3,930	$3,970	$3,615	$3,633	$3,651	$3,671	$3,688	$3,708	$3,726	$3,745	$3,763	$3,782	$3,801	$3,820
	Fraud / Chargebacks (% of GMV)	$		$844	$903	$965	$1,033	$1,106	$1,184	$1,266	$1,356	$1,450	$1,551	$1,659	$1,774	$1,888	$1,963	$2,043	$2,124	$2,208	$2,296	$2,388	$2,484	$2,583	$2,687	$2,796	$2,908	$2,919	$2,977	$3,036	$3,097	$3,160	$3,223	$3,288	$3,352	$3,419	$3,487	$3,556	$3,626	$3,414	$3,448	$3,483	$3,518	$3,553	$3,588	$3,622	$3,659	$3,697	$3,735	$3,773	$3,811	$3,698	$3,717	$3,735	$3,755	$3,773	$3,793	$3,812	$3,832	$3,850	$3,870	$3,888	$3,908
	TOTALS & MARGINS
	Total COGS	$		$3,750	$4,015	$4,290	$4,590	$4,915	$5,260	$5,625	$6,025	$6,445	$6,895	$7,375	$7,885	$9,304	$9,673	$10,065	$10,463	$10,879	$11,314	$11,768	$12,237	$12,728	$13,239	$13,774	$14,327	$15,676	$15,987	$16,306	$16,635	$16,973	$17,310	$17,657	$18,004	$18,360	$18,726	$19,100	$19,474	$21,003	$21,215	$21,432	$21,645	$21,862	$22,075	$22,287	$22,513	$22,748	$22,983	$23,213	$23,448	$24,302	$24,424	$24,546	$24,677	$24,795	$24,926	$25,049	$25,180	$25,298	$25,429	$25,551	$25,682
	Gross Profit	$		$4,875	$5,220	$5,577	$5,967	$6,390	$6,838	$7,313	$7,833	$8,379	$8,964	$9,588	$10,251	$16,070	$16,708	$17,386	$18,072	$18,791	$19,543	$20,327	$21,136	$21,985	$22,868	$23,791	$24,747	$34,632	$35,318	$36,024	$36,750	$37,496	$38,242	$39,009	$39,775	$40,562	$41,369	$42,196	$43,023	$57,224	$57,803	$58,395	$58,974	$59,565	$60,145	$60,724	$61,340	$61,979	$62,619	$63,247	$63,887	$71,626	$71,986	$72,347	$72,733	$73,081	$73,468	$73,828	$74,215	$74,562	$74,949	$75,309	$75,696
	Gross Margin %	%		56.5%	56.5%	56.5%	56.5%	56.5%	56.5%	56.5%	56.5%	56.5%	56.5%	56.5%	56.5%	63.3%	63.3%	63.3%	63.3%	63.3%	63.3%	63.3%	63.3%	63.3%	63.3%	63.3%	63.3%	68.8%	68.8%	68.8%	68.8%	68.8%	68.8%	68.8%	68.8%	68.8%	68.8%	68.8%	68.8%	73.2%	73.2%	73.2%	73.2%	73.2%	73.2%	73.2%	73.2%	73.2%	73.2%	73.2%	73.2%	74.7%	74.7%	74.7%	74.7%	74.7%	74.7%	74.7%	74.7%	74.7%	74.7%	74.7%	74.7%
	COGS as % of Net Revenue	%		43.5%	43.5%	43.5%	43.5%	43.5%	43.5%	43.5%	43.5%	43.5%	43.5%	43.5%	43.5%	36.7%	36.7%	36.7%	36.7%	36.7%	36.7%	36.7%	36.7%	36.7%	36.7%	36.7%	36.7%	31.2%	31.2%	31.2%	31.2%	31.2%	31.2%	31.2%	31.2%	31.2%	31.2%	31.2%	31.2%	26.8%	26.8%	26.8%	26.8%	26.8%	26.8%	26.8%	26.8%	26.8%	26.8%	26.8%	26.8%	25.3%	25.3%	25.3%	25.3%	25.3%	25.3%	25.3%	25.3%	25.3%	25.3%	25.3%	25.3%
	NOTES
	- Payment processing calculated on GMV (gross), not net revenue.
	- Hosting and support scale per order. Fraud scales with GMV.
	- Source: Sample cost assumptions. Replace with actual vendor quotes.