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Investor team,

September saw a lot of product development and progress with the physician network. We’re in negotiation with nearly a dozen doctors who would cover the entire geographic area of those in our beta program. The process has been expensive and tedious, but expected.

We’ve seen the most positive feedback from the standalone app and we’re pushing forward with that approach. We met with Abbott—the device manufacturer—in person and had a good conversation about our path forward. We feel more comfortable working with the Abbott device after our discussion.

As before, while not especially meaningful now since we’re in closed beta, revenue is the most important metric to track the health of the company going forward as we continue to refine the product. Our expected margin on each sale is approximately 60%-70%.

We intend to hold revenue to around $5,000 while we continue with the beta, as we do not have the capacity to onboard more people while we are rapidly iterating on the product.

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Additional

  1. We’re in late stage negotiations with a number of doctors to set up our physician network.
  2. We’ve engaged The Working Assembly, a New York-based design firm, to help us design our brand and marketing material.
  3. Josh will be at Crossfit MDL1 this month, which is Crossfit’s major conference for doctors. We’re opening the beta version of the product for the conference so people at the event can sign up.
  4. We have enough cash to comfortably get us through the beta and into our seed round.
  5. We’re on track for a public launch by the end of the year.

Key metrics for September

Burn: $143,162

Revenue: $4,507

Cash: $607,734

How you can help