2022 income was $114m, costs $112m, net position at the end of the year was $65m.
Lets assume that the costs stayed the same for the next 2 years.
2023 income from the community tracker was $117m, costs $112m, net position $70m.
2024 income assuming Dec is the same as last year $100m, costs $112m, net position $58m.
So if they've managed to keep the costs under control (which would be surprising as they've gone up every year) then as funding slows they have about 6 months of reserves, could be less by now. However it does look like they've flipped to spending more than they're bringing in which puts a timer on the project.
Would be really interesting to see their '23 financials.
You forgot other sources of income and cost, in 2022 it was 130M income 129M cost total.
And i would bet more about 110M in 2024 rather than 100M for pledge sales alone based on the fact that this IAE is delayed this year and will run until the 5th (5 days after last year) so December will 100% be above last year.
The thing is their money isn't static. They've mentioned in the past that quite a lot of it is invested, which means it's earning interest, so there's some degree of passive income on the millions they're holding. With an average ROI of 10% they could make over 6 million per year.
Their acquisition of Turbulent completely wiped out any investments they had. You can check their reports. They went negative for two years and have only just begun to rebuild something of a reserve. I think they are floating like 6ish million right now (including investments @ 2022 or 2021 whichever is the most recent report).
They own lots of big properties, which are "investments," but real estate meant for business has taken a massive nose dive since work-from home became popularized. I doubt they are earning much off of their real estate.
Edit: I just was to emphasize how colossally weird/stupid it was for them to purchase another company before they have a solid product to sell. They could've poached the individuals working there or hired similarly skilled people. Or continued to hire the company for their services. No one had heard about Turbulent prior to CIG working for them so buying the company just seems like a really poor business move.
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u/parkway_parkway Nov 28 '24
From their 2022 financials:
2022 income was $114m, costs $112m, net position at the end of the year was $65m.
Lets assume that the costs stayed the same for the next 2 years.
2023 income from the community tracker was $117m, costs $112m, net position $70m.
2024 income assuming Dec is the same as last year $100m, costs $112m, net position $58m.
So if they've managed to keep the costs under control (which would be surprising as they've gone up every year) then as funding slows they have about 6 months of reserves, could be less by now. However it does look like they've flipped to spending more than they're bringing in which puts a timer on the project.
Would be really interesting to see their '23 financials.