What it says
What this says
Current to 11 Oct 26Final internal board pack by Nell Ashcombe for the quarter ending 30 Sep 2024. It reports four customers, contracted annual recurring revenue of one hundred and twenty-seven thousand pounds and a team of thirteen, all from executed order forms and HR records.
What it is: an internal board pack dated 16 Oct 2024, prepared by Nell Ashcombe, Chief Executive Officer and Co-founder. It is marked Final and covers the quarter ending 30 Sep 2024.
Claims: "Four customers hold live contracts at the quarter end" and headcount is thirteen. The revenue figure is built "from executed order forms only", so drafts and open discussions are excluded.
Watch points: Nell notes that a single account is still a large share of the total. She asks the board to watch further signings, usage by customer and key-person risk, and whether the team can carry another customer.
Not settled: no renewal outcome is reported, and cash, runway, pipeline and roadmap dates are excluded. It is a historic snapshot, not a current position, and the figure is not given in digits.
As found in this document
The document
Body
B-Brain - Board Pack - quarter to 30 Sep 2024
Status: Final Prepared by: Nell Ashcombe, Chief Executive Officer and Co-founder Date: 16 Oct 2024 Period covered: the quarter ending 30 Sep 2024
Headline numbers
The short version: four customers, one hundred and twenty-seven thousand pounds of contracted annual recurring revenue, and a team of thirteen at the quarter end.
| Measure | Position at 30 Sep 2024 | Source |
|---|---|---|
| Annual recurring revenue (contracted) | One hundred and twenty-seven thousand pounds | Executed order forms |
| Customers | Four | Executed order forms |
| Headcount | Thirteen | HR records |
As before, every figure here comes from executed order forms or HR records. The order form decides contracted price and terms, and it beats any CRM field or draft. Nothing in this pack is a forecast.
Revenue
Read the whole document (3,239 characters)
- Contracted annual recurring revenue stands at one hundred and twenty-seven thousand pounds at the quarter end.
- The figure is built from executed order forms only. Draft proposals and open discussions are left out.
- It is annual, invoiced in advance, in pounds sterling.
- With a base this small, a single account is still a large share of the total. The board should read the number with that in mind.
Customers
- Four customers hold live contracts at the quarter end.
- We still know every account closely, and the founders remain involved in each one.
- No renewal outcome is reported here. The renewal process, including the ninety-day notice owned by customer success, needs to be ready before the first renewal arrives, not after.
Team
- Headcount is thirteen at the quarter end.
- The team is unchanged in size. Delivery and support are covered by the same small group as before.
- The cost of the team set against one hundred and twenty-seven thousand pounds of contracted recurring revenue is still the central tension. It is better than last quarter on the evidence of the order forms, but it is not yet comfortable.
Commentary
That one's on us if we describe this as more than it is. Four customers and a live, contracted base is progress, and I want the board to see it plainly. What the evidence does not yet show is how any of these customers behaves at renewal, or whether the usage we see today turns into the kind of value a customer will defend in a budget round.
The things I would ask the board to watch next quarter:
- Whether further customers sign, and which tier they choose.
- Whether usage keeps rising on every live account, measured by questions asked and by who asks them.
- Whether one person at any customer carries too much of the usage, which would be a key-person risk for us as much as for them.
- Whether a team of thirteen can carry another customer without slowing down delivery on the existing ones.
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.
- Agree that the next pack adds a short section on usage by customer, so value is reported next to revenue.
Best, Nell