What it says
What this says
Current to 11 Oct 26B-Brain's board pack from Nell Ashcombe for the quarter ending 30 Jun 2024, marked Final. It reports three customers, eighty-three thousand pounds of contracted annual recurring revenue and a team of thirteen. It is an internal, historic snapshot.
What it is: an internal board pack prepared by Nell Ashcombe, Chief Executive Officer and Co-founder, dated 16 Jul 2024. It says "Every figure in this pack is taken from executed order forms or HR records."
Claims: contracted recurring revenue of eighty-three thousand pounds, three customers with live contracts, and headcount of thirteen. No renewals had been reached, so renewal behaviour is not yet shown.
Commits: nothing to a customer. The only ask is for the board to note the position and confirm the headline measures.
Not settled: cash, runway, pipeline and roadmap dates are excluded. The figures describe 30 Jun 2024 and should not be read as current.
As found in this document
The document
Body
B-Brain - Board Pack - quarter to 30 Jun 2024
Status: Final Prepared by: Nell Ashcombe, Chief Executive Officer and Co-founder Date: 16 Jul 2024 Period covered: the quarter ending 30 Jun 2024
Headline numbers
The short version: three customers, eighty-three thousand pounds of contracted annual recurring revenue, and a team of thirteen at the quarter end.
| Measure | Position at 30 Jun 2024 | Source |
|---|---|---|
| Annual recurring revenue (contracted) | Eighty-three thousand pounds | Executed order forms |
| Customers | Three | Executed order forms |
| Headcount | Thirteen | HR records |
Every figure in this pack is taken from executed order forms or HR records. Where a CRM field says something different, the order form wins. Nothing in this pack is a forecast.
Revenue
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- Contracted annual recurring revenue stands at eighty-three thousand pounds at the quarter end.
- The figure is built from executed order forms only. It does not include draft proposals or anything still in discussion.
- It is annual and in advance, invoiced in pounds sterling.
- The base is small, so one account moving would change the picture noticeably. That is a plain fact about where we are, not a warning.
Customers
- Three customers hold live contracts at the quarter end.
- With a base this size we know each account personally. The founders still own the commercial conversation and the customer success work between them.
- No renewal conversations are reported in this pack. The renewal notice discipline we will need at scale is a thing to build before we need it.
Team
- Headcount is thirteen at the quarter end.
- The team is small enough that most people touch customers, the product or both.
- The cost of a team of this size set against eighty-three thousand pounds of recurring revenue is the central tension of the business at this stage. It is expected, and the board should keep it in view.
Commentary
Say what happened, say how you know. Three customers is a real base but not yet a repeatable one. What the evidence shows is that customers have signed and the contracts are live. What it does not show yet is how they behave at renewal, because none of these contracts has reached that point.
The things I would ask the board to watch next quarter:
- Whether a further customer signs, and on which tier.
- Whether the three live customers keep asking the brain questions week on week. Usage is the earliest sign of value, and it lags nothing.
- Whether the team of thirteen is the right shape for the work in front of us.
What this pack does not cover
- Cash position and runway are reported separately by finance.
- Pipeline is not quantified here, because an unsigned deal is not revenue.
- Product roadmap dates are not given in writing.
Decisions for the board
- Note the position at the quarter end.
- Confirm the board is content to keep the headline measures as contracted recurring revenue, customers and headcount for now.
Best, Nell