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	SENSITIVITY ANALYSIS
	Key Driver Sensitivities on Revenue, Burn, and Runway
	TAKE RATE vs AOV SENSITIVITY (Year 3 Annual Revenue)
	Base Y3 Revenue:	$674,603
	Take Rate ↓ \ AOV →	$55	$65	$75	$85	$95	$105	$115
	8%	$329,243	$366,082	$402,920	$439,758	$476,597	$513,435	$550,274
	10%	$379,896	$425,944	$471,992	$518,040	$564,088	$610,136	$656,184
	12%	$430,549	$485,806	$541,064	$596,322	$651,579	$706,837	$762,094
	14%	$481,202	$545,669	$610,136	$674,603	$739,070	$803,538	$868,005
	16%	$531,854	$605,531	$679,208	$752,885	$826,562	$900,238	$973,915
	18%	$582,507	$665,394	$748,280	$831,166	$914,053	$996,939	$1,079,826
	20%	$633,160	$725,256	$817,352	$909,448	$1,001,544	$1,093,640	$1,185,736
	KEY METRICS ANNUAL SUMMARY
	Metric	FY2026	FY2027	FY2028	FY2029	FY2030
	Annual GMV	$1,006,050	$2,364,000	$3,914,080	$5,412,690	$6,518,710
	Annual Net Revenue	$154,261	$381,195	$674,603	$992,327	$1,183,661
	Revenue Growth (YoY %)		147.1%	77.0%	47.1%	19.3%
	Annual COGS	$67,070	$139,772	$210,209	$266,425	$299,861
	Annual Gross Profit	$87,191	$241,424	$464,394	$725,902	$883,800
	Gross Margin %	56.5%	63.3%	68.8%	73.2%	74.7%
	Annual OpEx	$2,041,177	$4,398,295	$8,324,377	$13,863,226	$20,687,699
	Annual EBITDA	($1,953,986)	($4,156,872)	($7,859,983)	($13,137,324)	($19,803,900)
	EBITDA Margin %	-1266.7%	-1090.5%	-1165.1%	-1323.9%	-1673.1%
	Year-End Cash Balance	$5,095,107	$16,276,253	$8,911,151	$31,504,074	$12,519,121
	Year-End Headcount	14	31	55	90	126
	NOTES
	- Sensitivity table uses actual Y3 order volumes from the model with varied take rates and AOVs.
	- Annual summary consolidates monthly figures from all supporting sheets.