Organizations at every stage are laser-focused on achieving profitable growth. But to make it happen, businesses need more than just a strong foundation. The Finance team plays a crucial role in fostering collaboration and driving focus across the entire organization.
At Rent Spot Me, we're making strides in our progress. From the end of 2021 to the first quarter of 2023, our intense focus and collaboration have boosted our gross margin profile by a whopping 40 percentage points. Likewise, our adjusted EBITDA (a measure of bottom-line profitability) has seen a remarkable improvement of over 50%, while our net revenue has more than doubled.
We're not only achieving financial success but also delivering significant value to our renters and property managers/owners. Since 2022 began, we've issued over 250,000 policies, streamlining the rental process for tenants and making property management more efficient.
Finding the right balance among Rent Spot Me, renters, and property managers/owners is a priority for us. Operating in a tri-party environment, we constantly strive to maintain a healthy equilibrium and have developed tools over the past year to manage these dynamics effectively.
Collaboration is key, and our Finance organization plays a pivotal role in fostering cross-departmental and external cooperation to keep the momentum going. We validate our metrics and outputs against our primary focus, enabling meaningful dialogue with all parties involved. If a metric or output suggests otherwise, we make necessary course corrections.
Disrupting an outdated industry and building a brand-new market category is no easy feat. However, our Finance organization recognizes its significant impact and is committed to making this journey efficient and impactful, just like any other stakeholder in our company.
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