The simple business model

A handful of institutional buyers — TU Delft–sized universities and large companies. We resell sovereign AI coding access at a margin, and add training & customization on top. No GPUs to own, no 24/7 fleet — a lean team and a few good deals. Drag the knobs.

resale + margintraining & customizationinstitutional dealslean team

The deals

A small number of institutional customers.

Institutional customers 5

Universities + large companies. Each is one sales relationship, not a self-serve signup.

Avg seats per customer 1,000

1005k10k

Active users 40%

Share of licensed seats that actually use it monthly. Enterprise tools average ~50%.

Platform — resale + margin

You buy tokens wholesale, sell access at a markup. Margin is built in.

Platform price / seat / year €240

≈ €20 / seat / month. Copilot Business ≈ $19/mo, Enterprise $39/mo.

Token cost / active user / month €30

Your wholesale cost, after routing ~70% to a cheap model + ~80% prompt-caching. Heavy users capped by fair-use so this stays bounded.

Services — training & customization

High-margin labor. Often the real reason they buy.

Services revenue / customer / year €25k

Onboarding, training, custom skills/integrations, the DPO/compliance package. One-time + recurring.

Your cost base

Keep it lean — this is the whole point.

Annual operating cost €300k

The team that runs the gateway + delivers services. ~2 people to start (NL loaded ≈ €145k each).

Net margin

—

Total revenue / year—

↳ platform (seats)—

↳ services—

Token cost / year—

Gross profit—

Gross margin—

Operating cost / year—

Net profit / year—

Net per customer—

—

Assumptions & sources

Why it's shaped this way

Resale, not self-host EST	Below ~1,000 active seats, reselling a per-token EU gateway beats owning a GPU node — no fixed iron to fill. Self-hosting only wins later, at volume.
Markup removes heavy-user risk FIRM	Flat per-seat pricing for agentic coding is being squeezed — Copilot moved to usage-based billing in 2026. Charging cost + margin (with fair-use caps) keeps every user profitable. GitHub
Token cost / active user EST	Typical agentic user ≈ 135M tok/mo; after ~70% routing to a cheap model + ~80% prompt-cache, effective wholesale lands ≈ €15–40/mo. morphllm, RouteLLM
Seat pricing comps FIRM	Copilot $19/$39, Cursor $20/$40, Tabnine (self-host) $39. Sovereignty + compliance supports the upper half. GitHub, Tabnine
Seat utilization FIRM	~47–54% of enterprise SaaS seats are actively used. Zylo
Margin class FIRM	This is a managed-services / AI-app hybrid: net 15–25% at scale, not SaaS 80%. Services lift the blend. Gradient (MSP)
Team cost EST	NL senior MLOps/SRE ≈ €145k loaded. Two people run the gateway + deliver services to start. PayScale

How the math works

Platform revenue	customers × seats × price/seat/yr
Services revenue	customers × services/customer/yr
Token cost	customers × seats × active% × token-cost/active-user/mo × 12
Net	(platform + services) − token cost − operating cost

Deliberately simple. Excludes one-time setup (ISO 27001 ~€55k, build), sales ramp, and assumes services are delivered by the same team inside operating cost. The softest knob is token-cost-per-active-user — it depends on routing, caching and how heavy your users are; instrument it in a real pilot. Indicative, June 2026.