Q3 2026: 61 customers, $142k MRR, 24 months of runway

01TL;DR

• MRR closed September at $142k, up 28% on the quarter. 61 customers, from 52.
• Net revenue retention is 118% on the trailing twelve months, driven by three plant-level accounts going group-wide.
• Two things went wrong: Brindlecroft Metals churned after being acquired, and our Head of Sales hire fell through. Both in Lowlights.
• Cash is $2.64M, net burn $110k a month, runway 24 months. No raise before Q3 2027.

02Metrics

Quarter-over-quarter compares September 30 with June 30 (MRR $111k, 52 customers, 22 months). Net revenue retention is trailing twelve months, 112% a quarter ago. Runway is cash divided by Q3 average net burn; the arithmetic is in Runway.

03MRR, last six months

Monthly recurring revenue at month end, April to September 2026, in thousands of dollars. Lighter bars are Q2, darker bars are Q3.

Q3 added $31k of MRR: $20.0k from the ten new logos, $15.5k from expansion, and $4.5k lost to one churn and one seat reduction. Growth averaged 7.7% a month over the six months shown, 8.5% in Q3; the six-month figure is the one we track internally, because a single quarter flatters the slower months.

04Highlights

• Three accounts went group-wide. Tallowick Fasteners, Pellworth Foods and Durnmoor Castings moved from one plant to all of theirs: $14.0k of new MRR between them, and the rollout template we built for them is now how we sell every multi-plant deal.
• The auditor portal shipped on August 18. Auditors get a read-only link to the evidence they asked for instead of a shared drive. Six of the ten customers onboarded this quarter used it in their first audit; two told us it was why they bought.
• Food and beverage is a segment now. Pellworth Foods brought in Marrowfield Bakeries. Two customers with the same compliance questions is how a segment starts.
• SOC 2 Type I received September 9. The Type II observation window opened October 1.
• Median sales cycle fell from 58 to 41 days. Mostly the auditor portal demo: it ends the "how do we show this to the auditor" conversation in one screen.

05Lowlights

• We lost Brindlecroft Metals, $4.1k MRR. They were acquired in July by a group that runs an incumbent suite across all its plants; the September renewal went to zero. Nothing in the product would have changed it, but it is our first logo churn and it is inside the NRR number.
• The Head of Sales hire fell through. Our candidate accepted in June and withdrew in July for a counteroffer. Mara is still carrying the pipeline, which caps how many first calls we can take. This is the biggest risk in this update and the second ask below.
• Support grew faster than customers. Tickets up 60% with customers up 17%. Half of it was the auditor portal in its first month; the three causes are fixed and September was back to normal, but it cost two engineering weeks we had planned for integrations.

06Asks

1. Introductions. Quality or compliance leads at manufacturers with 200 to 2,000 employees, ideally food and beverage or medical devices, in North America or the UK. We have a list of twelve companies we would like a warm path into; reply on this section and we send it.
2. A Head of Sales. Someone who has sold $20k to $80k ACV software to operations buyers and built a team of two to four. We pay market and the equity is meaningful at this stage. If you know one person who fits, a name is enough.
3. A segment opinion. Two contract packagers came inbound in Q3 and we said not yet. We want three conversations with people who run a co-packing plant before deciding in November whether to build the two features they need. If you know one, we would like twenty minutes.

07Runway

Burn fell $25k a month because we stopped paid acquisition on July 1 (it was not producing meetings we could take) and because MRR grew $31k. With the three planned hires (Head of Sales and two engineers, about $45k a month together) and zero growth, runway is 17 months (2,640 / 155), which still clears a raise in Q3 2027. We do not plan on zero growth; we plan on not needing the raise to be easy.

08Team

Fourteen people at September 30: six in engineering, three in sales (two account executives and Leon, who joined as SDR in August), two in customer success, one in design, one in finance and ops, and Mara. Joined in Q3: Dário and Yuki in engineering, Leon in sales. Left: nobody.

Open for Q4: Head of Sales, and two engineers for the integrations roadmap. The team is in three cities and meets in person once a quarter; the next one is November 12 to 14.