Jonathan Adly, Founder & CEO of TJM Labs, spent 15 years as a licensed pharmacist before writing the first line of code in November 2024. 18 months later his pharmacy AI platform is at $25M ARR, 40% EBITDA, 450 pharmacies, and $100M raised without a pitch deck. His AI agents cost $45,000 a year, replace 2–3 human technicians each, and fill 500,000 prescriptions a day. 📌 Get SaaS benchmarks and revenue data at https://getlatka.com/companies/tjm-labs 📅 Weekly interviews every Tuesday. How did a pharmacist go from $1M to $25M ARR in 18 months? (03:26) Bootstrapped Galen AI, sold in 18 months (08:55) First customer needed 200 hires in 4 weeks (12:54) $1M → $15M → $25M ARR Why do pharmacies pay $45K per bot? (06:53) One AI agent = 2–3 pharmacy techs (07:47) Priced just under a tech’s salary (13:08) Pharmacy margin goes from 2% to 8% Why raise $100M when you’re already profitable? (14:43) $100M raised with no investment deck (16:51) “Never raise without a secondary” (17:44) 40% EBITDA while growing 10X What’s the napkin math to $1.8B? (19:22) Valuing an AI company at 15X+ (20:18) Path to $100M ARR with Elephant (21:35) 500,000 prescriptions per day Subscribe on YouTube: https://www.youtube.com/@NathanLatkawatch?sub_confirmation=1 Subscribe on iTunes: https://podcasts.apple.com/us/podcast/top-founders/id1023761733 Subscribe on Spotify: https://open.spotify.com/show/3AA9buFn8oxJf8WSDOUks5 Looking for funding? Visit https://founderpath.com/