1. 01

2. 01
02
Our pets have never been
more important to us.
Millennials have become the largest
pet-owning generation in history.This
means huge premium market growth.
20,000
15,000
10,000
5,000
0
2000 2005 2010 2015 2020
Premium
Mid-priced
Economy
Pet Food Market in $M ↓

3. 01
In reality though,“premium”
brands are often anything but.
“Purina, Blue Buffalo
settle false advertising
lawsuit over ingredients."
"Looking ForThe Safest,
Healthiest Pet Food?
Good Luck With That."
"Dog food brands
recalled over possible
eutanasia drug."
03

4. 01
Hi.We're
We're here to
make 9 lives 10.
04

5. 05
Smalls is the market leader in a category
that doesn’t get the love it deserves.
Dogs ($26B) Cats ($11B)
Pet Food
($38B)
*Fresh / Refrigerated competitors only.

6. 06
14 Proteins &
Textures Available
To satisfy cats’ need for
nutritional variety (vs an
avg 3-5 SKUs in Dog)
Ultra-palatable
Formulation
More palatable than
NomNomNow cat recipe
in a head-to-head lab test
Vet-formulated
Our vet nutritionists think
like our customers and
value real, good food
Cats ≠ Dogs.
3,903 suppliers,
90 palatability studies,
16 formulations,
&4 packaging styles later,
We’ve formulated the
ultra-palatable product
to tempt picky cats.

7. How it works
Fill out our quiz
We’ll build an in-depth profile
of your habits, preferences &
health concerns.
Indicate preferences
Allergies? Picky eater?
We’ll design a trial that’s
tailored your cat’s needs.
Receive a trial box
Comes with a sampling of
our recipes with transition
guidelines for new food.
Ships every 4-6 wks
Delivered to your freezer
on a cadence you choose
for stress free nutrition.
1 2 3 4
07

8. 01
WHY NOW

9. 09
The business has hit an inflection point and
we're raising $12.5M to accelerate growth.
Annual Run Rate ↓
$XXM ARR
Growth over
the last 6mo
2x
Recurring
revenue as
% of total
86%
Average
Order Value
$XXX
Contribution
profit per box
XX%
CAC
$XX
Revenue LTV
$XXX
$X
$X
$X
$X
Q1
2019
Q3
2019
Q1
2020
Q3
2020
Q1
2021
Q3
2021
Q1
2022
Supply constraints
have led to bumpy
acquisition
Growth
inflection
point

10. 10
We’ve unlocked growth
by moving to a new, state-
of-the-art manufacturer,
increasing production
capacity by 10x.

11. 09
We have the right leadership team in
place, which has been instrumental
to realizing this step change.
Teresa Galli
Merchandising
Justin Lewis
Supply Chain
Veronica del Rosario
Brand
Samantha Chen
Strategic Finance
Matt Michaelson
CEO

12. 10
Raising $12.5M now puts
us on a path to $XXM.
Annual Run Rate
Millions ↓
$0
Q4
2019
Q4
2020
Q4
2021
Q4
2022E
Q4
2023E
Q4
2024E
$X.XM
$X.XM
$XX.XM
$XX.XM
$XX.XM
$XX.XM

13. PERFORMANCE

14. 12
We’ve 8Xed our subscriber base since
2020 while keeping CAC in check.
Total active subscribers
by quarter ↓
Q2
2020
Q3
2020
Q4
2020
Q1
2021
Q2
2021
Q3
2021
Q4
2021
Channel mix
diversification
efforts in Q4
Q1 CAC
landed at
$XX
Core CAC ($) XX XX XX XX XX XX XX XX
Q1
2020

15. 13
We’ve accomplished this growth on
a newly diversified growth engine.
Our mix is stable &proprietary.
Customers acquired by
channel as % of total ↓
Channel
Channel
Channel
Channel
Channel
Channel
OCT
2021
NOV
2021
DEC
2021
JAN
2022
Less than 1/3 of our
paid mix now comes
from channel

16. 14
We dote on our customers
&view our relationship as a
lifelong one.That means:
30min SMS &
Email response times
Proactive support
calls to trial customers
Support during
the big moments

17. 15
What results is a multi-year
relationship with customers
with almost zero long-tail churn.
Q2
2020
Q3
2020
Q4
2020
Q1
2021
Q2
2021
Q3
2021
Q4
2021
Q1
2020
95% of customers
with us at the 2yr
mark remain with
us at the 3yr mark
Total active subscribers
by quarter ↓

18. 16
…and an excellent RLTV outlook. Projected RLTV based
on current cohorts ↓
MONTHS SINCE
ACQUIRED →
12 24 36 48 60
$XXX
3yr LTV
$XXX
5yr LTV

19. 01
FUTURE PLANS

20. From "Cat Food Brand"
to "Cat Brand"
18

21. 19
We’re just getting started. Food is only 35% of the cat parent’s wallet.
Source: Survey of cat owners in spring 2020 byThe Harris Poll on behalf ofTD Ameritrade
US Cat Care $30B
Food
$11B
Litter,Toys,
Treats & Other
Consumables
$9.4B
Other
Services
11.9B

22. 20
Our long relationship with customers means
plenty of opportunity for RLTV expansion.
We see healthy attach rates into our accessories
even without explicit incentivization.
Baseline RLTV
Incremental value of
toys &treats w/ true
cross-sales engine
Litter System
MONTHS SINCE
ACQUIRED →
12 24 36 48 60
Note: Based on preliminary pricing modelling.
Projected RLTV based
on current cohorts ↓
XX%
historic attach rate for treats
XX%
attach rate for toys

23. 21
In short - we’re raising a $12.5M round
to take the business to $XXM.
Go from
“cat food brand”
to “cat brand”
Go beyond food and
become the one-stop shop.
Own the Cat-egory
across channels
Put serious investment into
marketing & brand & explore
omnichannel.
Target Investment
$12.5M
Investment Highlights
• Doubled the business in 6 months on $XX CACs
• Increased production capacity by 10x
• $XXX RLTV with XX% margins with excellent long-tail retention
• Long customer relationships means room for RLTV expansion
Build out the team
to help us do it
Bring on specialized talent in
R&D, Engineering and Retail.
Which will be used to ↓

24. 01
THANK YOU