Q1 2026 Investor Update

Hi friends,

Happy Earth Day! We’ve had a banner start to 2026, nearly doubling our revenue and launching as New York City’s official one-stop for retrofits!

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 FirstService Energy, the Related Companies, and New York’s city and state agencies.

Vitals

• ARR: $2.9M (up from $1.54M at end of Q3)
• Monthly net burn: $0
• Runway: currently profitable
• Unique buildings on platform: 16,300+ (up from ~10,900 at end of Q3)
• Transaction revenue YTD: $159K

Q1 Highlights

1. NYC Accelerator launch. This is the big one. After a multi-year pursuit, Momentum went live with NYC Accelerator on April 14th — which makes us the most powerful client generation engine for retrofits in New York City. In the 3 days after launch, we saw a 10% increase in new users, and we expect that to speed up as the program gets fully underway. Covered by Smart Cities Dive

2. We tipped back into profitability. Between an increase in revenue and frankly very disciplined operations, Q1 put us back in the black.

3. We’ve built the most comprehensive building data platform in NY State history. That’s according to our client, NYSERDA. We wove more ML into the platform this quarter, and its early success is a meaningful marker for the data service side of Momentum.

4. Senior hires filled out the building science and engineering bench. We welcomed Michael Sweeney as our newest principal mechanical engineer. Mike comes to us from Pacific Northwest National Laboratories, after more than a decade at AKF, a leading green engineering firm. Very few people have both the building science and software experience that Mike has – we’ve made a great match!

   We also added 3 more senior software engineers to our application development team, bringing the total to 5. With the investments we made last year in onboarding, our new engineers hit the ground running. We’ve been building our engineering team as a self-managed horizontal team leaning heavily on a few experienced engineers rather than a larger group of juniors. And turns out, that’s a really good model to be super-charged by AI: per-engineer throughput is up roughly 2.5x year over year, with bug rates holding steady.

Challenges

1. Cash flow timing. We continue to see large AR and it’s in our sights to get the days outstanding reduced!

2. Shipping faster than our infrastructure can absorb. Our AI-enabled development velocity took a real step up this quarter, which was exciting — and also highlighted gaps in our deployment infra. We’re investing in reliability and QA tooling to keep pace.

One ask

Honestly, we don’t need customer intros right now. What we would love is intros to companies in your portfolio that need pipeline — folks with novel retrofit solutions, and folks making vertical tools for contractors.

We’re also not raising again yet — we’re focused intensely on execution, making sure the owners who onboard to Momentum find the help they’re looking for.

Here’s what to expect next

We’re starting to prepare to bring Momentum to two states outside of New York. We’re in early conversations with another municipal customer, and we’ve started pilots with two national organizations who hope to bring us into their markets outside NY. It won’t happen overnight, but we’re confident we’re on the right path.

Thank you as always for your support, intros, and encouragement. Onwards!

• Bomee