BlueDriver for Brian

Private - for our call Sunday, Oct 25

Brian,

Thanks for making time Sunday. I want to walk you through how I see BlueDriver before any of us decides where the brand lands. This isn't a research paper. It's my vision for the brand and why I think it's worth a lot more than the scan tool.

Credit where it's due. You brought the Amazon listing back after a launch split it and cost us the reviews. BlueDriver is doing about $16M of revenue and about $4.4M of adjusted EBITDA. It's a good business as it stands.

My view is its biggest value isn't diagnostics. It's the name and the people. More than a million BlueDriver devices have been sold to hands-on drivers who trust the brand enough to plug it into their car. I think BlueDriver can be the glue between Repair OnDemand, Primeritus and the fleets across the Kinderhook portfolio.

The page runs in that order: the network BlueDriver can front, the dash cam that ties it together, the tire sensor data nobody has, what it could be worth, and the decisions we need to make.

Timing matters. The process launches late first quarter once the clean run rate is there, with signing late second quarter. Whatever structure keeps this value has to be in place before the process starts. I walked Paul through it Friday and he agrees we should get the wheels in motion.

None of this needs a decision Sunday. I want us to agree on the options. Anything marked "to confirm" isn't verified yet.

John

1 · The network

BlueDriver is the front door to a network

One camera on one vehicle is a dash cam. Thousands of cameras on vehicles that drive every street, on one map, is a network. Every new camera makes every other one more useful.

1M+BlueDriver devices sold
19,315Repair OnDemand techs, about 6,000 active
2,514Kinderhook fleet trucks in 37 states
~400KSI vans
518,911Primeritus assignments a year

Owners move up a ladder

Start with the most basic user and work them up. Each step, they buy more from us or earn more with us.

1

DIY owner

Buys a BlueDriver on Amazon

2

Paid user

Next-level product or subscription

3

Spotter

Adds a BlueDriver Cam, joins the spotter network

4

MTRX tech

Starts a repair business on MobileTechRx

5

Network tech

Takes jobs through Repair OnDemand

6

Full scale

Our software, the scan tool, the Cam, and an Opus or asTech tool

The top rung buys Opus and asTech tools. The ladder feeds your business too. And the step from owner to tech is shorter than it looks: Sam's SQL already scores a lot of Repair OnDemand workers as willing to do easy jobs, and BlueDriver owners are DIYers by definition. 100-200K of them could take easy jobs (an estimate, not data).

Who is on the network

WhoWhat they runWhat it adds
Kinderhook fleetsLow-cost cameras and plate readers on trucks the portfolio already runs. 1,683 are curbside haulers that pass every driveway on the route, the same day every week. About 1,240 already carry 3rd Eye cameras or GPS; KSI's vans carry Lytx.Street coverage on day one with no consumer to recruit
Repair OnDemand techsA BlueDriver Cam in every vanGPS dispatch, proof of arrival, and a moving camera
BlueDriver ownersThe Cam, sold to the owner base and on Amazon next to the scannerHundreds of thousands of cars on the map, opt in only
Everyone elseTeslas, existing dash cams, the phone appMore coverage at near zero hardware cost

Primeritus is the first customer

18.5%

of the cars Primeritus is sent come back today. Agents are paid on the hook, so nobody can afford to keep looking.

84%

of Primeritus assignments have a Repair OnDemand tech within 10 miles. 97% within 25.

$0

extra for a weekly look at an address on a garbage route. The truck is already on the street.

The work model counts about 320,000 spotting points by 2031 across fleets, Cams, Teslas and phones. Assumptions, not results.

2 · The Cam

The dash cam ties it together

The scanner reads the car. The Cam sees the road and knows where the car is. The network sends help. One brand on all three.

Repair OnDemand needs GPS at its core

I'll be direct, because you'll hear it from me anyway. The plan on the table is a job board: post a job, and whoever taps first gets it. I don't think that wins, and I don't want to fund it as it stands. A marketplace needs to know where its supply is. Uber works because it sees every car on a map. Without live GPS we can't send the nearest tech, quote a real arrival time, or prove the tech showed up.

The best fleet customers already run dash cams and telematics. They won't buy a repair network that's blind next to the tools they already own. A Cam in the van is the cheapest way to get GPS, arrival proof and video in one device.

What I saw Oct 5

Every job goes to every tech who ticked the skill box - about 500 in Dallas - and the first to accept gets it. GPS is optional. The price is a text lookup with no photo AI, and the dealer has to decide PDR or paint himself.

A suggested go-to-market

GPS dispatch first, broadcast board second. Start with simple jobs - a drive-by, a parts run, a photo set. Three a day beats a bumper once a week, and that's how 6,000 active becomes 19,000. Use the portfolio as the first customer so the board is never empty.

The money in it

About $2B a year of invoices runs through the software, by my understanding. Every point that moves onto the exchange is $20M of volume and $3M of revenue at a 15% take, from work that already happens.

What I've already sent Srisu

Oct 6

My notes from the Oct 5 Repair Exchange demo, and that I'm seeing a path to $10B for Repair OnDemand.

Oct 13

The Primeritus packet, "The dots are connecting," and the Key West simulation video - one worker on one trip doing work for three companies. Watch the video. I haven't heard back on either.

Two designs, both real dash cams

Design A, a black bar with a wide center lens and two blue-ringed side lenses
Design A, Spotter. Three lenses. Make, model and color curb to curb. For owners, techs and fleets.
Design B, a black bar with a wide lens, a hooded forward plate lens and two hooded side lenses
Design B, Plate. Four lenses. Plates to 85 ft ahead and 40 ft to each side. For tech vans and repo agents.
Dash cam view spotting a parked car, with a payout badge
Concept. Earning is off until the owner turns it on.

Why an owner buys one

  • A 4K dash cam with parking mode, in the same app as the scanner. A check engine light, a crash, a hit-and-run - one app, one history.
  • An OBD Y-cable powers it so the scan tool stays plugged in. No hardwiring.
  • A new camera brand starts at zero reviews. This one starts next to a scanner at 4.5 stars on 63,182 ratings.
  • Opt in, and it earns on drives they were already making.
Design A, SpotterDesign B, Plate
Lenses3: wide 4K front (Sony STARVIS 2), two sides4: wide front, forward plate, two side plate
ReadsMake, model, color to 70 ft ahead, 100 ft to the sidesPlates to 85 ft ahead in daylight, 40 ft at night, 40 ft each side
Network optionTire sensor radios (315 MHz, 433.92 MHz, Bluetooth) and LTE - hears the cars around it and the one it rides in
PrivacyReading happens on the camera. Video never leaves the unit. Nothing is shared unless the owner opts in
Build cost at 10,000$88-136$128-192
Ships (target)Partner-built unit, Aug 2027Our own board, production Jan 2028

Concept renders and specs, set for real in testing. Retail price is not set. The Cam launches on its own listing, joined to the scanner by a bundle, so it can't hurt the scanner's rank.

3 · Tire sensor data

Tire sensor IDs to VINs

Every car since 2008 has four tire pressure sensors, each broadcasting a fixed ID, unencrypted, wherever the car goes. The VIN only leaves the car through the OBD port. Whoever holds the table that joins the two can recognize a car by radio without seeing its plate.

We'd basically be the Carfax for this data. Nobody ties sensor IDs to VINs today, and the cheapest place to build it is the scans our own businesses already run.
~190M

US vehicles store their sensor IDs in a module a scan can read. The read adds about 2-10 seconds to a scan the shop already runs.

~5M

Repairify scans a year today (Q2 2026: Opus IVS 794,624, asTech about 460,000).

~30M

vehicles a year through Opus IVS inspections (my figure, to confirm).

Vehicles mapped, % of the US car park (about 289M), base case

What we'd ask for

None of our tools read stored sensor IDs today; a 10-shop pilot proves the per-make scripts. Privacy, consent and legal review come first, and nothing gets captured until counsel signs off. Chart assumptions: Opus IVS ramps 25-100% of volume 2027-2030, Repairify scans grow 6% a year, a first OEM from 2028 and a second from 2032; capped near the 74% direct-TPMS share; may run high.

4 · The numbers

How the value builds

At today's numbers BlueDriver is a $4.4M EBITDA device line. As the front door to the network, the user base is the asset.

$16.0MBlueDriver revenue, LTM June 2026
$4.4Madjusted EBITDA (H1 2026 doubled)
70.7%gross margin, H1 2026
~152Kretail devices a year
Revenue and EBITDA, $M, base case RevenueEBITDA with find fees
Base case202620272028202920302031
Paid subscribers054K133K227K326K421K
Cam spotters08K35K86K157K237K
Network techs19.3K20.4K22.3K26.8K36.9K51.7K
Revenue$43.9M$55.8M$76.7M$107.4M$146.8M$198.7M
EBITDA with find fees$8.5M$13.5M$24.7M$41.8M$64.4M$95.9M
Value at 10x EBITDA$85M$247M$644M
Value per user$120M$275M$726M
If the brand and the users go out the door with diagnostics, the buyer gets that upside, not us.

From the five-year work model (Oct 22). Year zero is the family baseline - BlueDriver plus R360 and One Guard - from the Sep 21 board pre-read; everything after is an assumption to debate, not a forecast. Main assumptions: device units grow 10% a year, 70-76% of active devices register, 6-12% of registered users subscribe, 15-32% of subscribers add a Cam; value per tech $10,000, per spotting point $1,500, per subscriber $500, per registered user $40. Registered user count, email share and subscriber counts are not in any board document yet (to confirm).

5 · Decisions

Where the brand lands

The legal separation is done: Repair OnDemand and Opus are separate entities. BlueDriver sits with diagnostics and would likely sell with asTech and Opus.

Option A

Leave it as is

BlueDriver stays with diagnostics and goes with it in the sale.

For
  • Simplest
  • No Amazon risk
Against
  • Repair OnDemand rents its best feeder of users back on the buyer's terms
  • The upside goes to whoever buys
Option B - my recommendation

Scan tool moves to Opus over time; BlueDriver becomes the Repair OnDemand mothership

The scan tool moves step by step to an Opus name. BlueDriver becomes the consumer brand for the app, the Cam and a marketplace well beyond repair.

For
  • Keeps the name with the business that can grow it most
  • One brand from the DIY buyer to the top of the pyramid
Against
  • Real Amazon risk
  • Needs a fair-value answer for both sides
Option C - fallback

Brand and user agreement

Diagnostics keeps ownership. Repair OnDemand gets a long-term, exclusive right to the name for cameras, the app and the marketplace (not scan tools), plus access to owners who consented, at a fair fee.

For
  • Lowest Amazon risk
  • Fast to put in place
Against
  • We build on a name we don't own
  • A buyer prices it in

Protecting the Amazon rankings

What I'd like from Sunday

  1. Your read on the vision, and what I'm missing.
  2. Your view on the three options, and what you'd need to protect the Amazon business under each.
  3. How BlueDriver and Repair OnDemand transact today, and whether any licensing agreements exist.
  4. Who can give us the registered user count and email share, and whether your team can add the sensor ID read to the scan flow.
  5. A next step with counsel, so the brand and data agreements are signed before the process launches.
Next steps: Cam pilot in Dallas now through January · camera partner picked by mid-December · brand and scan data agreements before the process launches · first Cams shipping August 2027.