Jonathan Adly spent 15 years as a licensed pharmacist before writing the first line of code for TJM Labs in November 2024 — and 18 months later he’s at $25M ARR, 40% EBITDA, 450 pharmacies, and $100M raised without ever making a pitch deck.
His pharmacy AI agents cost $45,000 a year, replace 2–3 human technicians each, and now fill 500,000 prescriptions every day.
In this episode he breaks down the $1M → $15M → $25M ARR run, why he took a $75M Series B from Elephant while already profitable, how he values an AI company at 15X+ off public comps, and the napkin math from 450 pharmacies to a $1.8B opportunity.