Q3 2025 Investor Update

Subject: Time to unsubscribe?

Hi!

I want to be clear about what we’re building so you can decide if our updates are valuable to you. Cadence OneFive is a climate justice-focused building decarbonization software company. We have $3M in revenue lined up for 2026, primarily from large enterprise and government accounts. If you have doubts about the size of the retrofit market, or if this isn’t the kind of company you’d invest in, I completely understand - please unsubscribe.

If you’re still here - here’s what’s up with us: When we were raising last year, we were building toward national expansion through the Greenhouse Gas Reduction Fund and Climate United. That didn’t materialize. We refocused on dominating the New York City market - always the most important market for building decarbonization. We now have the New York City utility, the city’s primary building decarbonization program, and the state’s energy office as our primary customers. We’re confident this will put Momentum in the hands of hundreds more users than we have today.

The shift: Our customers pay our bills, but they serve hundreds of building owners who actually use our software. This year we focused on winning those customer contracts. Now we’re making sure we’re closely tracking and serving the end users - because that’s how we grow within and beyond New York. In 2026, we’ll be looking at organic expansion led by our customers who have portfolios outside of New York.

Vitals

• Annual Run Rate: $1.54M (up from $1.48M in Q2, +4.25%)
• Monthly net burn: $67k (+17.56% QoQ Increase in legal, accounting and consultant R&D)
• Runway: 15+ months
• Unique buildings on platform: 10,857+ (+42% QoQ)
• Transaction revenue YTD: $64k

Q3 Highlights

1. 100th release and 10,000 building milestones - We shipped our 100th production release, including a newly revamped construction bid workflow, and surpassed 10,000 unique buildings evaluated in Momentum.

2. Jon Braman joins as Customer & Industry Relations Lead - We’re excited to be joined by Jon, a nationally recognized decarbonization leader with 18 years at BrightPower. He’ll deepen our ecosystem relationships, accelerate expansion into new markets, and enhance our ability to serve large portfolio managers and program administrators.

3. Multiple Major Contract Wins (details under NDA) - We secured several significant contracts during Q3 that will bring our revenue to $3M in 2026. We’ll share more when we can.

4. NYSERDA Building Data Platform work validates our data advantage - We’re delivering successfully for NY’s state energy office with early users already answering data questions with our platform, and our evaluation of competing commercial and public building data sources confirms our platform’s strengths in data transparency, aggregation quality, and scalability.

Challenges

1. Scaling team - We’ve brought 5 new faces into our remote team, both on permanent and assignment-basis. We’re learning to be efficient with onboarding!

2. Cash management - We’ve sustained $100k+ AR over multiple months. We’ve had some feelings (though not an actual cash crunch).

3. SOC 2 takes a lot of energy - We’re nearly done with our 2nd SOC 2 Type II audit, validating that our data practices meet or exceed industry standards. While arduous and time-intensive, the customer peace of mind is worth it!

How you can help!

Portfolio company introductions - We’re looking for potential integration partners: market-ready hard-tech for multifamily looking for pipeline, or workflow automation/inspection software for retrofit contractors. Which of your portfolio companies should we talk to?

Looking ahead

We’re contemplating a round in spring to fund deeper investment in our data service, which uses ML and AI to automate what currently requires expensive consultants and weeks of manual analysis. We’re default alive without it, but raising would let us move faster. Meanwhile, happy holidays and see you in the new year.

Bomee