Verkada Raises $100M More, IPO Preparation Analyzed

**** * **** ***** ******* ******$*** ******* ** * $*.* ******* valuation, *** ******* *** *** ********* $100 ******* ****** * *****-********* **** ****.

** **** ******** ******, ** ******* Verkada's ************ *** ***** ******** ** IPVM, *********:

• **** **** *******'* ********* *** ********** funding ******?
• *** **** ******* ****** **** ** IPO ** ****?
• *** *** ****** ** **** *********** is *********
• **** *******'* ******** ******** *** **** rate *** *********
• **** *******'* ****** **** *****
• *** **** ******* ******* ** ******** traded *********

*** ********** ** *******'* *****, ********** *********** ********.

Executive *******

***** ******* *** ** ********* *** an ******** ***, ** ** ******* in ******* ** ****, ** *** multiple ******* ***** *** *** *******'* growth, ********* **** ********* **** **** than * ****, ************ ******** ******, accelerating *********** **********, *** ******* ***** at ** *********** ****.

Implying ***

******* ********** ** **** **** *** two *** ********* *** ****-***** *** investing ** ********* ***** ** *** at ***, ******** **** ******* ** preparing *** ** ***.

*** *** **** *** *****, ******* employees, ********* **********, **** ********* ********* and ********** ***** ********* ** ***, with ********** **********.

******* ** ***** $*** *******, ** this ******, ***** ** ****** ** provide ********** ********* *** ******** ** they ****** ** *** ** ****.

Valuation ********* *** $*** ******* ********** *******

******* ********* ** **** **** *** $100 ******* ********** ******* *** ****** D ***** ** *** **** ********* of $*.* ******* ** * **** ago. ******* ******$*** ******* ** ********* **** *** Series *, *** ******* *******. **** * **** *****, ******* added ******* ********** ******************** ******* ********.

***** ******* **** **** ***** ********** are ******, ***** *** ******* ***** of ******* **** *** $*** ******* additional ******* ** *** **** ********* a **** ***.

******* ***** *** ******* ** ***** Series * *****, ** ***** ******* initially ****** $** ******* *** ***** $20 ******* * **** *****. *******, at *** **** (****),******* *** * **** ****, **** *** ******** ******* **** that ******* *** **** "** *** penalty ***," ***** * ****** ******** for ***** *** **** **** ********* wrong.

***********, *** ********** ******* ** * 50% ********* ** *** ****** *, compared ** **** * **% ********* for ****** *.

***** *** **** *** ******* ****** has ******** **** *** ***** ** 2022 **** ******* ***** *** ******* a ****** ********* *** **** $*** million ** * *******.

Declines ******* ******

***** ******* **** **** ********* ******** on **** *********, ** ******** ** give *** ********* ** **** *** revenue ****** ** *********.

** ********, ** ********* ****, **** they ********* *** ******** $*** *******,******* ********** ** "****** ******* ***** ******* year-over-year."

*******'* ******* ****** ** ******* **** significantly **** ****, **** *******'* ********* to ******* *** ********* * ******* concern.

Increased ******** ********** ** ******* *****

** **** **** *** ****** **********, publicly *** *********, ***** ******* ******* its *******. *** *******, **** ****, there **** **** *** **** ******* employees *********** ***** *** ******* ***** quotas ** ****** ******.

*** ****** ** **** **** ***** have ********* ****** **** ********* ** 2023, ** *** ***** / ***** boom *** *** **** *** *****, at ***** *** ***.

*** ***** ******* ******** ** *** much ****** ***** *** ******** *** Verkada, ** *** ******** ******** ****** is ****** ******, *** **** **** Verkada's ********** *******, ***** *** **** so **** *********** ***** *** ****** to ** **** (**** *** **** again).

Employee ****** ***********

********, ******* *** **** ****** ** a *** ****** **** **** *** past *** *****, **** ******* ** the **** *** ******, **** *** last ***** ****** ***** ******* ****.

********, ***+ ******* ********* **** **** Verkada ** *** **** ***** ******, based ** ******** ***** ********* *******. This ****** ***** **** ** *** since, *********, * ***** ****** *** employees ******** ***** ******** ******** **** they *** *** **.

Overhead ******** ********* $***-$*** *******

**** ********* *******'* ******** ******** ** be $*** ** $*** ******* ** 2023, ***** ** *******'* ~*,*** *********, high ************ **** *** ****** ******** California *********, *** *********** ******** ** sales *** ********* **********. **** **** not ****** ** *** **** ** goods ****, **** **, *******'* ******** costs.

Revenue ******

***** ******* ************ ****** **** ****** and ***** * "****** ****," *** company *** ***** ***** ******* ***** what *** ******* ******** **. *** closest ** ***** *** * ******* employee **************** $*** ******* ** ******* *** 2020. ***** ****, ** **** ***** sources ***** ** *** ***** ** $400 ** $*** *******.

Revenue **. ******** **. ****

*** ************ *** ******** **** **** factor *** ******* ** **** *** company's ***** ******* * ******** ******* of ******** **** ****** ** ********** as ******* ** *** ******* **** but ***** **** **** ****. **** is ******* ******* ***-***** *****-**** ********. For *******, ****$*+ ******* ****** ********* **** **** **-**** ********.

**** ***** ****** ***** **** **** and **** *** ******** ***** ***** they *** *** ***** ********'* ***-******** to **** ***** *****-**** ******.

Burn **** ***********

**** **** ***** ***-********, **** *********** and ******* ******** ******, ******** **** Verkada's **** **** ** ***** ******** and ****** ********* **** ****, ** sales ****** ******. ***** *******'* ****** revenue *** ******* ******* *** ******** unknown, ** ***** ** ********* ** estimate **** *********.

Timing ** ********** ***********

** ******* *** ******* *** ******* its ****** *****, ******* ***** **** raised ********** ******* ** * ****** valuation **** ****, ** ****** *** VC ******* *** ********* *** ********* more ******** ** *** **** ** months. ******* ****** ***** **** *********** due ** *** **** ****, ** not ******* *** ****** *******, ** is ****** *** ** *** ** 2024.

Possible ******* *** ******** ** *******

*** **** ******* ********** *** ******* is ** *******. **** *******, ******* was ******* ** ** **-****** **-*******.

******** ****** *******'* ****** ************** ** ~$13 *******, **** **** **** ***** Verkada's ******* *********. ***** *******'* ***** plunged *** **** ****** ***** ***** public **** ****, *******, ** ** slightly ** *******.

*** *******'* ****** *** ******* ****** with *******, ****** *********** ** ******** model ************** **** *** ********** **** complex. ***** **** **** ******** **** subscriptions, ******* ***** *** ******** **********, while ******* ******* *** ***** ** include ****.

*******'* *** ** *********** $* ******* with * **% ****** **** ******* $200+ ******* ** *** **** (**** ****** ******* ********* *******).

*******'* *** ******* ***** ** ***** to *******'*, ***, ** **, ** might *** ** **** ** ******** public ****** ********* ** ***** ** at $**+ *******.