Date
April 23, 2026
The Chair called the meeting to order at 2:00 PM and confirmed quorum. The minutes of the February 5, 2026 regular meeting were circulated in advance. No corrections were raised.
CEO Aaron Petrov reported Q2 ARR of $14.6M, up 31% year over year, with net revenue retention of 118%. Two enterprise logos closed late in the quarter; gross margin held at 78%. Discussion followed on the slower mid-market funnel and the planned shift of two AEs to enterprise. The Board noted hiring is tracking to plan.
CFO Priya Nair presented a revised operating plan reallocating $1.2M from paid acquisition into platform reliability and a second EU data region. Runway under the revised plan extends to 22 months. After discussion of the trade-off against pipeline coverage, the Board moved to adopt.
Management proposed expanding the 2024 Equity Incentive Plan by 450,000 shares to support the H2 senior hiring plan and refresh grants for the executive team. Counsel confirmed the increase is within the authorized share reserve. The Board reviewed the dilution impact at 2.1%.