What it says
What this says
Current to 10 Oct 26Final board pack from the CFO dated 17 Jan 2025. It reports contracted annual recurring revenue, customer count and headcount at the quarter end, as a baseline for later packs. It is a historical snapshot, not a forecast.
What it is: a short internal board pack prepared by Bridget Kearsley, Chief Financial Officer. It reports three measures: contracted annual recurring revenue, customers and headcount.
Claims: annual recurring revenue is stated in words as one hundred and fifty-one thousand, five hundred pounds across four customers. Headcount is seventeen. The revenue is built from executed order forms, not the CRM.
Unusual: the pack flags concentration, saying "With only four customers, each account is a large share of the total." It states that nothing in it is a forecast.
Not settled: invoiced and paid amounts, usage trends and pipeline are excluded. It is a baseline from 17 Jan 2025 and is not current, since B-Brain now has far more customers and staff.
As found in this document
The document
Body
B-Brain - Board Pack - quarter to 31 Dec 2024
Status: Final, version 1 Prepared by: Bridget Kearsley, Chief Financial Officer Date: 17 Jan 2025 Period covered: the quarter ending 31 Dec 2024
1. Purpose of this pack
This pack gives the board the headline position of B-Brain at the end of the quarter. It is deliberately short. It reports three numbers that finance can cite from the order forms and the payroll record: contracted annual recurring revenue, the number of customers, and headcount. For the avoidance of doubt, nothing in this pack is a forecast.
2. Headline numbers
| Measure | Position at 31 Dec 2024 |
|---|---|
| Annual recurring revenue (contracted) | One hundred and fifty-one thousand, five hundred pounds |
| Customers | four |
| Headcount | seventeen |
Notes on the table:
- Annual recurring revenue is the contracted annual subscription value taken from executed order forms. It is not the CRM amount and it does not include the one-off implementation fee.
- Customers are organisations with a live contract at the quarter end.
- Headcount is the number of people employed by B-Brain at the quarter end, as held by HR.
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3. Commentary: annual recurring revenue
Contracted annual recurring revenue stands at one hundred and fifty-one thousand, five hundred pounds across four customers. Our records show that this figure is built from the executed order forms, not from the CRM deal records. Where the two differ, the order form decides.
With only four customers, each account is a large share of the total. The board should read the number with that concentration in mind: the loss or the growth of a single account moves the figure materially.
4. Commentary: customers
We finish the quarter with four customers. Each is on a subscription under the master agreement, and each has an implementation that was priced as a fixed fee when it joined.
The priorities for the four accounts are the ones that matter at this stage of the company:
- keep every connector loading and the nightly refresh on time, so the brain is never answering on stale data;
- make sure each customer has more than one person asking questions, so no account depends on a single champion;
- be able to say, for each account, what the brain is worth to that customer.
5. Commentary: headcount
Headcount is seventeen at the quarter end. The team spans the functions needed to build, run and sell the company brain inside a customer's own Snowflake account, together with finance and operations.
6. What this pack does not show
For clarity, the following are not covered here and will be added to later packs as the data allows:
- invoiced and paid amounts by customer, which accounting holds and which will be reconciled to the order forms;
- usage trends by account, such as questions asked and records indexed;
- a pipeline view of prospects.
I would be grateful if the board would treat this pack as the baseline against which later quarters are compared.
7. Points for the board
- Note the contracted annual recurring revenue, customer count and headcount at the quarter end.
- Note that account concentration is high with four customers, and that finance will keep reporting from executed order forms.
- Agree that the next pack carries the same three headline measures so the comparison is like for like.
8. Next steps
| Action | Owner | Timing |
|---|---|---|
| Reconcile order forms to invoices for all four customers | Bridget Kearsley | before the next pack |
| Carry the same headline measures into the next pack | Bridget Kearsley | next quarter |
Best, Bridget