Minimum price for secondary market buy or sell orders: $2.25

Why Telos

We estimate there are over 10 million SMBs relying on legacy, custom-built, business-critical software and they rely heavily on specialized operational support.  As we enter the AI age, the proliferation of custom applications and agents is accelerating, driving an exponential increase in operational support demands.

As we now enter this new phase, we are looking beyond AI to position ourselves for the coming SaaS 2.0 wave.

SaaS 2.0

SaaS 2.0 is where every business builds their own purpose-built software, to better fit their workflows and brand promises, instead of buying off-the-shelf software. We believe there will always be ambitious business leaders who want a “reliable goto” to take care of this for them (they probably also pay for someone to mow their lawns).

We are turning this into a full-stack AI business that we can scale to 10,000 customers at a “medium” size price point.

Focus

In FY26, we are focused on the first stage of growth to 50 customers at a price point of $3k NZD per month. Our business model also includes generating revenue from development, so we are cash-flow breakeven.

As of November 2025, we have 25 customers and annualised revenue of $1m (based on Aug-Oct).

We have a team of five in New Zealand with four offshore developers and we are heavily leveraging AI for planning and development.

Our R&D is focused on our platform, which provides project management and planning using AI.

Find out more

• We provide monthly investor updates which are available on request
• We are happy to provide a demo and Q&A session on request
• Review our Constitution and Shareholders' Agreement in the Catalist Documentation.
• Reach out for more information, including financial model, pricing, go-to-market strategy, and lean canvas, product overview and team information.

Secondary trading

Although the purpose of any secondary market auctions is to give existing investors the opportunity to trade their shares, if there is more demand to buy new shares than the supply of shares from existing shareholders, Telos Limited may decide to issue additional shares at the clearing price established by the auction, or at a fair market price set by the directors, in order to satisfy excess buy orders and ensure prospective investors don’t miss out.

If Telos Limited decides to issue new shares in a secondary market auction, its offers may be in competition with offers from existing investors, but it will only do so if its directors are satisfied that the issue price is fair and reasonable for the company and its existing shareholders.