So what matters?

Bomee’s Murderboard, episode 3! Welcome back. I hope this is helpful frameing for the 2nd half of this year.

To recap parts 1 & 2

Market context

• The energy efficiency industry believes market transformation requires regulations as forcing functions, dedicated subsidies, and reduced complexity - areas where Momentum plays a role.

• Business of real estate is fundamentally about risk management, so owners choose “tried-and-true” options, rather than unfamiliar solutions.

• Construction suffers from an information deficit that prevents owners from confidently pursuing new approaches, as there’s no effective “information commons” to de-risk unfamiliar options.

What we already do

• We’re serving clients across the entire de-risking spectrum - From Related Affordable who already knew how to do this (we just made it easier), to Josh at Urban American who wants Marc to guide him through it, to L+M who has grant money covering the risk, to Aurora and FirstService who need comprehensive information because they have no choice but to deal with energy efficiency. We’re not relying on one approach - we’re meeting owners wherever they are in their risk comfort zone.

• We beat ASHRAE Level 2 Audits on speed and staying current - even the best audit goes stale in months as regulations, rebates, and pricing change. We give immediate scoping instead of six-month waits, plus our smart plans adapt as markets shift and connect directly to implementation.

• Market-wide insights make us the obvious choice - The mystique of energy analysis is broken for 80-90% of buildings. We’re not just another consultant - we’re showing owners the right scope at the right price with the right contractors, backed by data about what everyone else is actually implementing. Even the best auditor can’t give you that market-wide context and transparency.

What we need to do next

1. Use our customers to validate our value proposition, not just post dollars won

We need to check if they’re continuing, if they’re using the software, why they’re using it. If they’re not using the software - for example, using it to get attention from Marc - we need to understand what the software can and can’t do for them and where Marc is filling in. Then we can understand whether someone else like a KC3 needs to step in, or whether we can build it into software itself.

2. Deliver complete task solutions through software

Right now, we’re not getting customers all the way through each task - they need to talk to someone for reassurance or download and mess with spreadsheets. The goal is delivering through software from step zero to task completion. This is about building trust - customers need to trust software outputs enough to act without human validation. We need to understand exactly where Marc is filling gaps and whether those can be built into software or require someone like a KC3.

3. Build a repeatable sales go-to-market motion

What we’re doing now is founder-led sales, entirely dependent on Marc’s years of relationships and his ability to adapt the value proposition for each customer. We can be nearly self-sustaining on these institutional contracts, which buys us runway. But that’s not repeatable because we’ll saturate the New York City market in one year. We need to develop a go-to-market motion - a hypothesis around how to get repeatable revenue through a repeatable sales process where you input time and effort, and the output is predictably revenue.

Metrics

Traction

• Unique Buildings: 6,648 (May, +300 MoM)
• Annual Run Rate: $1.46M (see note)

Financials

• Monthly net burn (accrual basis): $76,814 (3-month avg, +6.73% MoM)
• Year-to-last-month net burn (cash basis): $82,536 (-41.2% MoM)
• 2025 Transaction fees to date: $9,355
• Outstanding invoices as of today: $237,975 (+$113,664 or +91.43% WoW)

Note: April numbers shared for Annual Run Rate, Monthly Net Burn and Year-to-Last Month Net Burn. These will be updated for May after the May books are closed next week.

Development

• Bug Count (P-0 and P-1): 9
• What are the other development metrics we should look at as a team?

Last Week’s Highs and Lows

• I’m really excited about the UI improvements. I was wrong about spinners. (BJ)
• Glass half-full. Alright, the fact it takes 5 seconds to load building pages with many scopes isn’t great, but isn’t this replacing a process that takes 6-8 months and costs $20,000 per building? (FH)
• We delivered Release 95 on-timish, followed-up with a quick calc service patch, and are on track for Release 95.1 to help with the upcoming demo. A lot of smooth baton passing went into this! (FH) +1 JB
• The new heat pump measures for L+M are coming along well! (JB)

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

• I came out really energized from the Biweekly Momentum planning meeting, because we have all the ingredients on the table to cook a delicious dish for our users who are contractors, meeting them where they are, and giving them a way to generate well documented RFPs quickly that would help them and building owners make better decisions. But so many exciting directions, and so little time!

(Carryovers)

• Shipping small, often, well, and safe: I don’t think anybody feels great yet about where we are right now (at least Momentum side, the hardest side). But there’s real progress on testing speed, coding and PR best practices, involving Jeff early and often, and navigating long-term branches, all while pleasing the SOC-2 gods. Let’s keep at it, we’re almost there!
• Growing the team: the “$2.5M demo” is not only motivating on its own, it also re-opens the door to hiring. Let’s prep for it, so that we can identify the right skills, attract the right candidates, and welcome them efficiently. Ahead of permanent hires, and to flex our onboarding muscles, could it make sense to get help from consultants for Laravel expertise, or interns for testing help?
• 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

• Local politics The federal picture certainly isn’t good, but we also have some local political risk on the horizon. There’s a big NYC election coming up this fall (with the primary next month!) There’s a lot of belief that if Cuomo becomes the mayor, Local Law 97 would face some serious setbacks—maybe even go away.

• NYC Accelerator and ConEd Recompete These are both big contracts with outsized impacts on revenue and product roadmap. Eager to hear about ConEd and 🤞for this week’s NYCA interview and demo!
• Balancing new feature development with cleaning up debt We have a lot of new features to build, but also a lot of legacy code debt that can make adding those features take longer than it otherwise should. How much time do we spend pushing new features out to the door to keep current and potential clients happy vs. time spent getting our codebase cleaned up so we can move faster in the future. <- This came up in this week’s planning conversations about generationg RFP documents from our building data–is this a good time to clean out the skeletons hanging around the scope page closet?
• Portfolio/program reporting Users want the ability to look at groups of buildings in our software, whether it’s looking in their own collections for buildings that meet certain criteria or looking at trends across projects in a program. We haven’t done anything in this vein yet, but we’ll need to start. But like François above, we need to figure out how to keep users in Momentum, pulling them out of their spreadsheet comfort zone. <- The sample stuff folks are doing in Metabase looks pretty neat as a start!

Erika’s List

Carryovers

• Healthcare is still top of mind (though the conversations are winding down) and what option will keep costs down year over year and be manageable for employer and employee.
• Mid-year budget is also still top of mind and wrapping up that analysis so we can make decisions on things such as when we can hire and where we may need to shift our spending.

Bomee’s List

• Getting Marc a product he can sell Great to see that FSE got what they wanted! Now program-project and developments next!
• Team dynamics We’re still gelling, and we’re having more of the the conversations we need to have.
• Cash. We have a net burn that we need to minimize. If we win these RFPs, we can make strategic investments!
• NYCA – Interview this week!
• ConEd Recompete – Interview this week!
• Political and economic uncertainty in the US, including NYC elections.

On Deck for This Week

• NYCA interview and demo on Tuesday! Knock their socks off, Marc! (JB)

• Attending Urban Green Council’s conference, where Marc is speaking. (JB)

• Two-day summit for The Clean Fight, an accelerator. It should be a good time to learn more about this cohort’s participants, and how we might be able to include their solutions in Momentum to help grow their business and support more projects. (JB)

• Last calls with Justworks and Rippling regarding healthcare options and making a decision on that (EP)

• And yes, we’re working on** another big-ish RFP,** for HPD with KC3. It’s due next Wed.

• Here’s what’s on the Company Radar

Upcoming Release

We’re in between release weeks, but this sprint’s focus will be:

• More Project work–improving the bid review screens and starting RFP documentation generation so we can get a full end-to-end flow
• Continuing near-term client needs for L+M–new measures and bulk scope generation and comparison
• Next up client needs for Related–starting some foundational work for owner- vs. tenant-paid end uses

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?