In a pivotal move aimed at propelling its growth and innovation, Boxabl has announced the hiring of seasoned executive Martin Noe Costas as its new Chief Financial Officer. Paolo Tiramani, CEO and co-founder of Boxabl, stated, "After an extensive search, we are happy Martin has joined the Boxabl family." Boxabl has officially added Costas to the Boxabl website on Monday.
A CFO with a Remarkable Track Record
Martin Noe Costas brings over 25 years of diversified corporate experience to Boxabl. He is noted for his strategic acumen, operational leadership, and particularly for his expertise in Initial Public Offerings (IPOs) and Mergers & Acquisitions (M&As).
He commenced his impressive career in public accounting at PwC, where he spearheaded more than 100 audit, consulting, and advising engagements. His resume boasts leadership roles in global companies such as Honeywell, Schlumberger, and Sysco.
Career Highlights: IPOs, M&As, and Transformations
At Honeywell, Martin oversaw a global operation generating $4 billion in revenue. The firm is a pioneer in automation control and services for a myriad of industries.
He served as CFO at Nexans Amercable, with a global reach and 0.7 billion in revenue. Nexans is the world's second-largest manufacturer of cables and specializes in high-quality power cables for harsh environments.
His role at Sysco involved leading a Fortune 50 transformation, focusing on aligning strategy, technology, and operational efficiency.
What This Means for Boxabl
Boxabl aims to redefine the construction and housing industry with technology-based, mass-manufactured homes. The company has been on an upward trajectory, and Martin's appointment is perceived as a tactical move to perhaps ready the company for an IPO or other significant corporate developments.
Given his successful history in leading complex IPO and M&A processes, Martin Noe Costas is expected to play a pivotal role in guiding Boxabl through its next phase of corporate growth.
Boxabl has previously hinted at an IPO once the startup finishes its flagship "Boxzilla" factory and hitting a run rate of $100 million in revenue. With three factories built and an eye towards Boxzilla, Boxabl's IPO goals might soon be realized. While the company still has a number of certifications to overcome, the startup's talent pool continues to grow showing promising signs of growth.
Upcoming Regulation A Raise
Initial public offerings come with a number of benefits and risks for both the company and investors. The company often receives millions in funding, allowing it to scale substantially going into an IPO.
Boxabl is currently in the process of launching another Regulation A raise in the coming months, including nearly $4 million reserved on StartEngine. The company will likely max out the $75 million cap as it did the year prior, and this funding will be a pivotal part of getting Boxzilla live, and the subsequent ramp up to an IPO.
According to Hubtas's Boxabl profile, Boxabl's valuation is roughly $3.7 billion with revenue growth of 456% year over year. Their most recent revenue numbers come in at $11 million, or about 180 casitas sold. Boxabl is beating the industry average in cash per employee ($96k), current ratio, and debt to assets.
Boxabl's mission is to revolutionize the housing industry with its unique, efficient shipping solution for mass-producing homes. Their focus on advanced manufacturing aims to set a new standard in housing construction and affordability.
This development comes as part of Boxabl's strategic move to bolster its executive team with high-caliber professionals.