Exciting news – we’re officially filed the RegCF paperwork with the SEC! We’re blown away by the incredible enthusiasm from you all to invest in Plunge, and our round is now oversubscribed. 🔥
We'll reach out soon with details on confirming your investment. If you haven’t joined yet, it’s not too late to still make an investment and join the waitlist. Given the extraordinary demand, we are already working on filing an extension to our round to make space for everyone to join.
For those of you still considering an investment, we wanted to take this opportunity to share some more context around where our business is at and where we’re headed.
2024: A Year of Strategic Growth 📈
Our focus for 2024 was on product innovation and infrastructure development. While we recorded a net loss of $5M and an EBITDA loss of $3M on $82M of gross revenue, we launched 11 new products, built a high-performing leadership team, and laid the groundwork for scalable internal systems.
These moves weren’t just bets. They were the foundation. And by Q4, they paid off – we reached profitability.
2025: What’s Ahead 🚀
We’re heading into 2025 laser focused on profitable efficient growth. We expect to stay profitable by streamlining our cost structure and continuing to improve our gross margins by:
- Maximizing profitability by reducing non/low ROI operating expenses, saving approximately $800K per month
- Transitioning to a new manufacturing partner with greater scale and a best-in-class reputation for quality assurance
- Implementing product improvements aimed at lowering warranty-related costs
- Improving marketing efficiency through tighter attribution, reduced CAC, and optimized channel mix
We’ve built the engine. Now it’s time to scale.
Cold is still the leader. Saunas are heating up. B2B is accelerating. And now is your chance to lock in your stake and grow with us.
💸Confirm your investment or join the waitlist
Here’s to a stellar year ahead!
Michael & Ryan
Co-Founders & Co-CEOs, Plunge