Investor Update · Q2 FY25

Steady lift,
strong tailwind.

The quarter Northwind crossed $2.4M ARR — and proved the enterprise motion works.

ARR
$2.4M
QoQ Growth
+38%
Runway
19 mo
Confidential — For existing investors only 01 / 09
TL;DR

The 30-second read

Momentum

ARR up 38% QoQ to $2.4M, driven by two enterprise logos and expansion in the base. NRR held at 121%.

Product

Shipped the Snowflake bi-directional integration — now live with 40% of accounts and unblocking three enterprise deals.

Watch item

Our VP Engineering hire slipped a quarter. Roadmap absorbed it; hiring is now our #1 ask this update.

The two asks

1) Warm intros to CFO / finance buyers. 2) A senior data-engineering candidate for our founding platform role.

02 / 09
Metrics vs. Q1

Numbers that matter

ARR
$2.4M
▲ +38% QoQ
Net Rev. Retention
121%
▲ +4 pts
Net Monthly Burn
$210k
▼ up 6% vs Q1
Cash Runway
19 mo
◆ flat, $4.0M cash
ARR trajectory

Fourth consecutive quarter of accelerating net-new ARR. Enterprise now 44% of book.

$1.1MQ3'24
$1.4MQ4'24
$1.74MQ1'25
$2.4MQ2'25
03 / 09
Wins this quarter

What went right

01

Two enterprise logos closed

Signed a Fortune-500 logistics firm and a national insurer — combined $520k ACV, both multi-year.

+$520K ACV
02

Snowflake integration shipped

Bi-directional sync went GA on schedule. Live with 40% of accounts inside three weeks; top-requested feature of the year.

Shipped on time
03

NRR expanded to 121%

Seat + module expansion outpaced churn. Gross retention steady at 94%.

Best-in-class
04 / 09
Candid — what slipped

The honest column

1Q
delay on key hire
!

Senior data-engineering hire slipped a quarter

Our final candidate for the founding VP Engineering role took a competing offer late-stage. Search reopened; we prioritized fit over speed. Roadmap velocity held because the platform team absorbed critical-path work — but this remains our biggest single risk to H2 scale.

!

Burn ticked up 6%

Sales hiring ahead of pipeline pulled burn to $210k/mo. Deliberate and covered by runway — we're watching CAC payback closely (currently 14 months).

05 / 09
Unit economics

The engine is compounding

Gross margin
82%
CAC payback
14mo
Magic number
1.3
Enterprise 44%
Mid-market 34%
SMB 22%

Every dollar into sales returns $1.30 of net-new ARR within a year. The enterprise shift is lifting deal size and margin simultaneously.

06 / 09
Next quarter · Q3 focus

Where we're pointing
the ship

Grow
  • Close 3 enterprise deals now in late-stage pipeline ($900k ACV)
  • Launch CFO-focused finance analytics package
  • Push toward $3M ARR exit rate
Build
  • Ship real-time alerting + anomaly detection
  • Second integration: Databricks connector
  • SOC 2 Type II certification complete
Fix
  • Close the VP Engineering / senior data hire (top priority)
  • Bring CAC payback under 12 months
  • Formalize enterprise onboarding playbook
07 / 09
How you can help

Two specific asks

01
Intros

CFO & finance
buyers

Our new finance package needs design partners. We're looking for warm intros to CFOs or VP Finance at 500–5,000-person companies. Two intros this quarter would meaningfully de-risk Q3 pipeline.

02
Hiring

Senior data
engineer

Founding platform role — someone who's built high-throughput data pipelines at scale (Snowflake / Spark / Kafka). Know someone great? A single referral could close our biggest gap.

Reply to this thread or grab time → [email protected]
08 / 09
In closing

Building through
the noise.

A clean quarter of compounding growth, honest about the hire we missed. Thank you for the support — the asks above are how you can help us make Q3 our best yet.

ARR
$2.4M
Runway
19 mo
Next update
Oct
09 / 09