Q2 2025 Investor Update

Hi friends,

Happy July! As we close out Q2 and settle into summer, I wanted to share updates from our corner of climate tech. We had a solid quarter with some genuinely exciting wins!

As a refresher, Cadence OneFive is a B2B SaaS-enabled marketplace for decarbonizing multifamily buildings—a $300B market in the making. We streamline retrofit workflows, deliver hard-to-acquire market data, and match shovel-ready projects with capable specialist contractors. Our customers include the Related Companies, ConEdison’s rebate program in NY, and NY State’s decarbonization programs.

Vitals

ARR: $1.49M (up from $1.31M in Q1)
Monthly net burn: $54,857 (3-month average - down 41% from Q1! 🎉)
Runway: 15+ months
Annual churn: 7.69% (well below the 10-15% benchmark for B2B SaaS)
Unique buildings on platform: 6,726
Transaction revenue YTD: $16,302 (starting to flow!)

Q2 Highlights

Shipped key Momentum features driven by customer feedback - Added space usage editing with automatic Local Law 97 compliance updates and data source transparency tools. These workflow improvements respond directly to customer requests from FirstService Energy and other enterprise users.
Landed FirstService Energy and they’re genuinely delighted - We signed the country’s largest property management firm and successfully shipped custom financial return calculation features specifically for their workflow.
NYSERDA called us “a breath of fresh air” - The start of our contract with NY State’s energy agency came with the best possible validation: their program manager said our approach was refreshingly superior to their previous vendor. We’re now the data infrastructure powering building decarbonization across New York State.
NYSERDA convened an entire workshop around our core thesis - The state energy agency organized industry stakeholders specifically to discuss our insight that “making decisions easier is key to speeding up retrofits.” We’re pleased to be in lock-step with program development by one of the premier state energy offices in the country.
Launched co-branded LL97 Action Steps with Urban Green Council - Our partnership with NYC’s leading green building organization went live, positioning Momentum as the standard platform for Local Law 97 compliance. This drives market-wide adoption of our workflow approach.

Challenges

Production incidents taught us hard lessons about incident readiness - We experienced our first significant downtime. The silver lining? We’ve significantly improved our incident response processes and are being more strategic about technical debt management.
It’s difficult to hire and still go full-speed on development - We are working at full capacity, with a pipeline of new work ahead of us. It’s a good problem but requires careful prioritization to maintain service quality while planning strategic growth.

How you can help!

Talent! - We’re at the networking phase of gearing up to recruit a few new positions.
- Senior Data Engineer
- Customer success person with building science background
- TALL stack application engineer with wild-eyed enthusiasm for AI balanced by insufferably stringent testing and review preferences (Plays well with others).

Looking Ahead in Q3

Now that we’re officially in Q3 with 15+ months of runway and two major RFP opportunities in final stages, we’re positioned to make strategic investments in team growth and platform capabilities.

Thank you for your continued support and belief in our mission. Every introduction, piece of advice, and word of encouragement helps us build toward a future where everyone has access to healthy, affordable, climate-resilient housing.

Onwards!

Bomee

*P.S. If you’re in NYC this summer, let’s grab coffee! I’ll be there for Climate Week in September as well, but Climate Week is always so hectic….