How are we doing?

I’ll just repeat what I said last week in standup: We are winning big as an advocacy organization. Not only does the reboot plan for NYC Accelerator reflect our theory of change, but also, the State seems to be poised to go all in as well. Marc and I spent Tuesday with NYSERDA and all our industry friends at a workshop called “Building Owner Behavior Change.” The first part of the day was an orientation to behavioral science by the Irrational Labs folks. The 2nd part of the day was three break-out sessions looking at blockers and breakthroughs for a 14 foot-long version of a decision map that was basically a huge version of our cartoon process diagram. It was enjoyable to have all these folks take our premise for granted and ideate! Now we just have to be the best solution to this problem statement!

Metrics

Traction

• Unique Buildings: 6,349 (+127 MoM)
• Annual Run Rate: $1.3M

Financials

• Monthly net burn (accrual basis): -$76,814 (3-month avg through April, +6.73% MoM)
• Year-to-last-month net burn (cash basis): $82,536
• 2025 Transaction fees to date: $8,659 (-$885 WoW after removing an invoice to Carleton)
• Outstanding invoices as of today: $89,038 (no change WoW)

Development

• Bug Count (P-0 and P-1): 14

Last Week’s Highs and Lows

• We are winning mindshare: Last week’s NYSERDA event was quite literally convened around our core thesis, that making it easier to make decisions is key to speeding up retrofits. (BJ)
• “How are we as a software company?” retro felt really productive. (BJ)
• Robin and I had a good discussion with the folks from The Clean Fight. They have a similar mission to accelerate deployment. They were really appreciative of the TAM analysis of their finalists that we (really Robin) provided for them. (JB)
• There were some good discussions about programs/projects. We had a good customer discovery meeting with KC3, as well as a little internal meeting to better define what’s needed for V1. The requirements for this are coming into focus! (JB)
• François has moved the monthly Willdan reports to a notebook–this will save me time each month! (JB)
• Lowlight: the long production incident was a bummer, and showed we got rusty with misses across detection, mitigation, and resolution. It’s awesome that we don’t have to deal with production issues too often, but it makes it all the more important to be “kind to our future selves” and make incident detection and response no-brainers. (FH)
• “LL97 Action Steps” website (powered by Momentum) launched by the Urban Green Council as a resource to drive standardization and attempt to create a little FOMO/urgency around action. Property managers and boards interested in more customized support have option to provide email and be contacted by KC3 to get a custom Momentum scope. (MZ)
• Kick off with Con Edison and L&M development partners on a REV utility pilot. Momentum will be used on front end of the project to screen 100 building portfolio for different heat pump alternatives (which will require adding a couple new measures). This project will also be used to validate (MZ)
• Good discussion around Kate workplan in her 360 and revenue team priorities for rest of the quarter that align with product based on input from Jason. (MZ)

Any missing highlights? Please share in Slack comments.

Crow’s Nest

Looking out for icebergs: What are the risks on the horizon that we’re watching for and navigating around?

François’ List

• After the long downtime this week, and the aftermath of unstability over the week-end, I hope we can get to the bottom of what happened to restore the relatively healthy ratio of “operations to development” we’ve enjoyed so far. It seems to me we’ve put very little efforts in developing Fly expertise in the team, because we didn’t have to, but this might be changing.
• There is something really motivating about talking directly to our users in the context of the NYSERDA Building Data Platform project, especially because the conversations so far seem in the honeymoon phase, with NYSERDA voicing excitement about our potential. Now, let’s make this marriage last: we’ll have to walk a tight rope of incremental delivery while making key architectural decisions!
• (repeat from previous weeks) Automated Testing: I’m convinced that reliable tests that run quickly and reflect our users’ experience are table stakes to move faster and with more confidence. Are we going to find the bandwidth to get this party going?

Jason’s List

Carryover:

• NYC Accelerator RFP--this would be a big contract and have impacts on revenue plan and product roadmap.
• How can we continue to reduce the barriers to giving users useful information? I’m excited for Naina’s progress on scraping data out of pdfs so we can make it easier to get non-public information. We see a lot of potential use for this beyond getting a v0.
• Updating our project workflow. We have a better idea of who will be using this now, which is a great start. And I think we have a good sense of what’s required for a shippable v1. I hope this sets us up well to translate it into code.
• More chatter about adaptation > mitigation. This feels both scary at the macro scale–have we missed the tipping point?–but also I think more difficult to streamline with software than decarbonization.
• CPC’s Climate Friendly Homes Fund program being capped at $150M instead of $250M. Apparently NYS had to use that money to cover some other projects in need. It’s still going to be a very impactful program, but it ending early is sad for at least a couple of reasons. We’ll need to shift focus away from new project intake to getting contractor costs in the system and program reporting.

Erika’s List

• The final quote came in at the end of last week for an alternative healthcare option and it’s time to share with Justworks so they can see what they can do. All the PEOs explored would not underwrite us for the master medical plans (these are the main plans provided by the PEOs) because our profile is either risky or expensive (sometimes both). This was true even for providers with a higher risk tolerance. The decision left for us is to either stay with Justworks and have them match an alternative solution or try an alternative- but our choices and negotiation power look slim. More info will be shared this week after Justworks comes back with their proposal.

• Carryover from last week - Budget! This is still top of mind and as we approach mid-year. As I mentioned last week, it is a good time to check in on our budget and see what adjustments need to be made, the impact of different scenarios on our runway and how we might reallocate resources. I am also looking into how much we are spending on each of our programs (e.g. legal costs and consultants) versus the revenue they bring in. No flags raised yet on costs, but we will work on a way to efficiently track program costs on a regular basis.

Bomee’s List

• Getting Marc a product he can sell soooooo close to getting NPV and logo out for FSE!
• Cash. We have a net burn that we need to minimize. But we still have a lot to build.
• NYCA – waiting
• ConEd Recompete – waiting
• The background hum of uncertainty for the housing/construction industry. The predicted recession is not great news.

Marc’s List

• National politics clearly impacted us with GGRF. A lot up in air with local NY politics that is worth keeping an eye on.

On Deck for This Week

• Healthcare comps to the team - finally! (EP)

• Release 94, which will and allow us to invoice FirstService Energy, the energy department of the city’s (and country’s I think) largest property management firm (JB)

• Jeremy’s 360 (JB)

• Customer success ramp up with real estate customers Related, First Service and L&M (MZ)

• Here’s what’s on the Company Radar

Upcoming Release

We’re preparing for Release 94, penciled in for Wed. May 14. We’re expecting to release:

• Customizations for FirstService Energy: FSE will see their logo when they log in, as well as access to the new NPV scope metric with editable calculation assumptions.
• Ability to input custom energy use data:
• Additional tweaks to CPC CFHF phases:

Please Leave Feedback

Please note your reaction to this update in the Slack channel. It helps us to know what is resonating, what is unclear, etc. Thanks!

• What are your highlights / low-lights?
• Did we miss a highlight? Something else you want to react to?