Metrics you can defend.
KpiHealthStrip
Each tile carries its definition inline, so a number is never presented without the rule that produced it. A provisional figure says what is still moving underneath it rather than looking final.
1 metric is provisional — computed from data that is not yet reconciled. These are estimates and should not be quoted externally.
Recognised MRR at period end × 12. Booked ARR is a different number and is not used here.
(Opening MRR + expansion − contraction − churn) ÷ Opening MRR, on the cohort active twelve months ago.
Operating cash outflow less operating cash inflow. Financing flows are excluded.
September AP is not fully invoiced; the GR/IR accrual of $2,684.00 is an estimate.
Cash and equivalents ÷ trailing three-month average net burn. Assumes no new financing.
MrrBridge
New, expansion, contraction and churn are four different facts and never a single net movement. Gross and net retention are shown together, because a healthy NRR can hide a failing GRR.
MRR bridge
September 2026
Excludes expansion — this is churn and contraction alone.
Shown alongside GRR, never alone — NRR alone hides churn behind expansion.
MRR is an operating metric. It will not tie to the profit and loss statement.
BudgetVsActual
Polarity is per line: revenue under budget and expenses under budget are opposite outcomes, and a single “favourable/unfavourable” colour rule gets one of them wrong. Cut it by department and the favourable total turns out to be engineering 1.6M over and sales 0.9M under. Every vintage of the plan is kept and the comparison base is chosen out loud — September beats the version in force and misses the one the board was shown in November, and a component that silently picked one would be picking the flattering one.
What was believed, and when
Operating income, September 2026, as each version had it.
- FY26 Plan v13 Oct 202592,000 US Dollar—
- FY26 Plan v2 (Feb reforecast)27 Feb 202698,000 US Dollar+$6,000.00
- FY26 Plan v3 (Jun reforecast)12 Jun 2026 · in force106,000 US Dollar+$8,000.00
The actual is one number. Which of these it is measured against is a choice, and the grid above says which one it is making.
ForecastTable
Actual and forecast are never rendered alike, and the boundary is drawn twice: between periods, and inside the one that has started and not finished. September is three columns — posted through the 21st, expected for the rest, and the landing they sum to — because a part-elapsed month reported as one figure sits beside eight closed ones and inherits their authority. The landing is computed, not supplied, so the three cannot disagree.
Why Sep 26 is split The landing column is to-date plus remaining, computed here rather than supplied, so the three figures cannot disagree.
CovenantMonitor
The contractual definition is shown next to the computed one, because a covenant EBITDA is almost never the EBITDA on the dashboard. Where they differ, the difference is named rather than resolved silently in favour of the nicer number.
Minimum liquidity
$184,200.00Unrestricted cash and cash equivalents held at a Qualified Institution, excluding amounts held in escrow.
- Threshold
- ≥ $100,000.00
- Headroom
- 84.2%
- Next test
- 31 Dec 2026
Maximum total leverage
2.14×Total funded debt ÷ Consolidated EBITDA for the trailing four quarters, EBITDA as defined in §7.3 (capped add-backs, no SBC add-back).
- Threshold
- ≤ 3.00×
- Headroom
- 28.7%
- Next test
- 31 Dec 2026
The dashboard's Adjusted EBITDA adds back $11,400.00 of share-based compensation. §7.3 does not permit that add-back, so covenant leverage is 2.14× against a dashboard figure of 1.86×.
Minimum fixed-charge coverage
1.18×(Consolidated EBITDA − unfinanced capital expenditure − cash taxes) ÷ Fixed charges, trailing four quarters.
- Threshold
- ≥ 1.15×
- Headroom
- 2.6% — tight
- Next test
- 31 Dec 2026
NonGaapReconciliation · MetricDefinition
A non-GAAP measure never leads. It appears below the GAAP measure it is derived from, reconciled line by line, and every adjustment carries the reason it was made.
Adjusted EBITDA
| Net income (US GAAP)GAAP | 82,880 US Dollar |
|---|---|
| Interest expense, net | 1,840 US Dollar |
| Income tax expense | 21,900 US Dollar |
| Depreciation and amortization | 7,120 US Dollar |
| Share-based compensation | 11,400 US Dollar |
| Adjusted EBITDANon-GAAP | 125,140 US Dollar |
Magic number
0.82(Current quarter ARR − prior quarter ARR) × 4 ÷ Prior quarter sales and marketing spend
( $518,400.00 − $496,600.00 ) × 4 ÷ $106,340.00
- Cohort
- All new and expansion ARR, consolidated
- Period
- Quarter ended 30 September 2026
- Source
- Billing system for ARR; GL account 6400 for sales and marketing
- Definition
- v2, effective 1 Apr 2026
RevenueTracker
The tiles are computed from the same array the cells are drawn from — a header figure that disagrees with the table beneath it is the fastest way to lose a reader. Hover any cell for its movement; switch to “% of Total revenue” for the mix.
Subscription is 69.1% of revenue in Jun 25. Concentration above a third is a fact about the risk in the business, not a fact about the month — it belongs in the commentary either way.
ExpenseTracker
Polarity is derived from how spend is signed rather than asked of the caller: heavier spend reads as unfavourable and a variance under budget reads as favourable. Committed-but-unbilled sits beside the total rather than inside it — a purchase order is not an expense.
Largest movements into Jun 25
- Payroll and benefitsPeoplenegative 2,883 US Dollar and 63 centsnegative 2.3 percent
- Hosting and infrastructureEngineeringnegative 848 US Dollar and 13 centsnegative 3.5 percent
- Marketing programmesMarketingnegative 248 US Dollar and 54 centsnegative 1.4 percent
DriverModel
Actual from projection, input from output, assumption from arithmetic. Only projected inputs can be typed into — double-click one, or press Enter on it; the cell takes “=1200+340” and “1.2k”. Actuals and ƒ rows refuse the edit.
Assumptions
- New logos per month
- 14
- Held flat at the trailing three-month average. The pipeline supports 17; the delivery team does not.
- Average contract value
- $28,400.00
- The Q3 cohort. Enterprise deals above $80k are excluded — two of them would swing this by a quarter.
- Gross monthly churn
- 1.4%
- Trailing twelve months, logo churn. Revenue churn runs lower because the churning accounts are small.
- Hosting cost per account
- $41.20
- Falls 2% a month on committed-use discounts already signed.
ScenarioCompare
Nothing is ranked and no column is styled as the good one — a scenario is a set of assumptions, not a result. Limits that get crossed are named in words underneath, because a downside that breaches a covenant is the only thing on the page that matters.
Base case
baseNew logos hold at 14 a month and the two enterprise renewals in March close on time.
Downside
negative 11.7 percentnegative 68,000 US DollarOne enterprise renewal slips a quarter and hiring continues on plan.
Revenue, against Base case.
Upside
+11.3 percent66,000 US DollarThe partner channel lands in Q2 and adds four logos a month from March.
Revenue, against Base case.
Limits crossed
- Downside crosses the $100,000.00 liquidity covenant on Ending cash.
- Downside crosses the board's nine-month floor on Runway.
PlByDimension
Total is the sum of the columns beside it, computed here — a total that does not equal its parts loses the room. Unallocated has its own column rather than being spread on a rule nobody agreed to.