Yearly Financials YE 2014 YE 2015 YE 2016 YE 2017 Total Revenue 2,326,153 2,799,688 4,171,039 7,468,913 COGS 1,872,091 2,183,757 3,211,700 5,751,063 Gross Profit 454,062 615,931 959,339 1,717,850 Gross Margin % 19.5% 22.0% 23.0% 23.0% Operating Expenses G&A 918,896 156,000 156,000 156,000 Marketing 359,641 270,000 278,100 286,443 Merchandising* 32,664 Editorial* 83,795 Technology/Product 350,365 196,692 213,544 216,573 Salaries and Benefits 2,367,891 2,215,817 2,290,124 2,381,729 Total Operating Expenses 4,113,252 2,838,509 2,937,768 3,040,745 EBITDA (3,659,190) (2,222,578) (1,978,429) (1,322,895) Incremental Revenue 268,115 715,208 1,445,469 Incremental EBITDA 72,137 604,515 871,119 1,365,351 Updated Revenue 2,326,153 3,067,804 4,886,246 8,914,381 Updated EBITDA (3,587,052) (1,618,063) (1,107,310) 42,455 Stay Bonuses for team not included in operating • * moved to salaries $ 250,000 EFTA01165336