Memo · Anton Dam, Controller · Helios Robotics
We need $450K (or 2 hires) to land first-year SOX cleanly.
Prepared for: Helios CFO · Subject: Pre-IPO SOX readiness gap vs peer cohort · As-of: May 2026 · 8 months to target S-1
TL;DR
At T-8, we are behind the peer median on 4 of 6 readiness metrics. The gap is concentrated in Big 4 walkthrough coverage and open significant deficiencies. Peers in this gap profile closed it by spending a median of $450K on a 12-week catch-up engagement or adding 2 SOX analysts. Recommend approving the catch-up engagement and 1 contractor hire — combined cost ~$630K, decision needed within 4 weeks to preserve Q1 2027 filing window.
The gap, in 6 numbers
Where Helios sits vs the peer cohort
Big 4 walkthrough coverage
40%vs 65% median
Helios at p15 · -25 pts
Open significant deficiencies
3vs 1 median
Helios at p85 (worst quartile)
Months of testing history at filing
4vs 7 median
Helios at p12 · -3 months
Pre-IPO readiness score
62/100 · vs 71 median
Helios at p28 · -9 points
Controls in scope
175vs 158 median
Helios at p62 · moderately above
Months to filing
8months
Target Jan 2027 · contextual
What peers in our spot did
Four plays observed in the cohort
📈 Big 4 catch-up engagement
$450K · 12 weeks
24 of 47 peers chose this when behind on walkthrough coverage by 20+ points. Deloitte, EY, and PwC all run named offerings for this. Predictable scope, predictable close.
👥 Headcount addition
2 SOX analysts · $360K loaded
15 of 47 peers in our deficiency profile. Slower to close gap than catch-up engagement, but residual capacity persists post-filing.
📅 Filing delay
1 quarter
11 of 47 peers extended their target filing. Typically paired with one of the above. Carries valuation/market-window risk.
✂ Control rationalization
Drop 10-15 should-have controls
8 of 47 peers used this as a velocity recovery. Recovers ~3 weeks of testing throughput. Compatible with any other play.
Peers may have chosen >1 play; counts are not mutually exclusive.
The recommendation
Recommended ask
| Item | Cost | Decision deadline | Closes which gap |
|---|---|---|---|
| Deloitte 12-week SOX catch-up engagement Walkthrough coverage from 40% → ~80% by T-4 |
$450K | Within 4 weeks (Deloitte calendar) | Walkthrough coverage · Big 4 alignment |
| Dedicated SOX remediation lead (contractor, 6 mo) Reduce significant-deficiency cycle from 74 days → ~42 days |
$180K | Within 6 weeks | Open deficiencies · Cycle time |
| Total ask | $630K | — | Brings readiness score from 62 → projected ~74 by T-4 |
Risk of not approving
On the current trajectory, Helios files with 4 months of testing history (vs peer median 7) and at least 2 unremediated significant deficiencies. Peers in this profile received a qualified opinion on first-year SOX (3 of 47 peers) or delayed filing by ≥1 quarter (11 of 47).