Happy Fall!

Metrics

Traction

• Unique Buildings: 9,219 (+1,502 MoM - a new customer added many buildings)
• Annual Subscription Run Rate: $1.66M*

Financials

• Monthly net burn (accrual basis): -$35,793, -27.02% MoM

• Year-to-last-month net burn (cash basis): -$68,000, -5.78% MoM

• 2025 Transaction fees to date: $32,100

• Outstanding invoices as of today: $218,133

  Note: Subscription run rate, monthly net burn and year-to-last month net burn are all based on July. These numbers will be updated for August in next week’s memo.

Development

• Bug Count (P-0 and P-1): 3, 1 of which should be fixed with this week’s release

Last Week’s Highs and Lows

• The 9/29 company breather was a great opportunity to catch our breath a bit on our way to deadlines for NYCA, NYSERDA BDP, and more! (FH).

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?

Bomee’s List

• Getting Marc a product he can sell Delivery cadence feels unpredictable.
• Team dynamics Chuck’s making a big transparency push. Are we feeling more basketball-y?
• Planning for growth on the team Jobs are posted. Now it’s a competition between ticking clock and good process
• NYCA, ConEd Recompete and HPD – Waiting for contracts - still!
• Uptake of AI tools - I feel like interest in tooling has plateaued?
• Cash. We have deployed about half our cash in hand. We need to replenish soon.
• Over-all architecture 8-ball says outlook still murky.

Jason’s List

Mostly carryovers, with some tweaks:

• We need to move faster, and I hope we can grow the team and integrate more people quickly and smoothly!
• How can we carry more things through to completion and not leave multiple things in progress at any one time?
• We’ve increased our feature set quite a bit lately, and it’s going to continue growing for some time. How can we scale our our testing to keep pace?
• AI Document Scraping How will scraping project scopes and contractor bids, which will be more difficult, go? And how quickly can we get this figured out and incorporated into the code? This is one of the areas where we can provide some real magic for users.
• Local politics There’s still a lot that could happen between now and the general election in November.
• NYC Accelerator We have a lot of build for this–and I realize more with each passing day–so I’m hoping our team continues to incorporate the new tools and processes, and remains vocal and open about what they are working on and what’s not working for them.
• ConEd Recompete Still waiting for news
• 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. L+M, CFHF, FirstService, and more want and expect this set of features from us. And we’re starting to learn what jobs they are looking to do with the spreadsheets we’re providing so far.

François’ List

(repeats with tweaks)

• Defining the contours of back-end as a product: the NYSERDA Building Data Platform (BDP) initiative, the recent L+M analysis work, E3 research for ConEd, HPD, individual users loading large (~2000) lists of buildings, and other opportunities ahead of us have common themes of enabling analysis on large groups of buildings, with data integration and processing at their core. Should we turn this into a product we sell, or are we OK making it a service we offer tactically?
• Making our Code Base more welcoming: staffing is hard, making new folks successful quickly is not easy either. One of the major wins I’m hoping to get from outside senior help (Laravel architect, Senior data engineer, etc) is to help define structures that make it easier for new folks with different profiles to be productive faster and safer.
• Growing the team: the NYCA news further raises the priority of onboarding the right talent to help us deliver quickly from data processing to front-end. We’re making progress identifying places where we need the most help, we have a candidate pipeline for data processing and a Laravel architect helping us - but are we ready to welcome new folks and help them be productive?

Erika’s List

• Budget through the end of the year and thinking about next year for hiring and operating expenses. Also, making sure it is clear for all to understand and make decisions from.
• Also, getting paid on time or at least on a schedule that is more closely aligned with our needs. Our customers have been pretty consistent the past year but lately I have had to do a lot of follow-up for amounts big and small and it’s impacting the money we have in the bank.
• The hiring process and how we will bring people in and ensure they have everything they need and that new hires and the team are aligned on what makes for a successful transition and how we account for a successful transition.

On Deck for This Week

• Release 102 - which should get us most of the way to a releasable version of the project feature!

• Building Data Platform - Demo to NYSERDA on 9/4, where we hope to show off metabase + dbt docs access. Brian Woods, data engineer contractor, should also join us later that day.

• Here’s what’s on the Company Radar

Upcoming Release

• We are very close with the projects feature for the ConEd MFEEP pilot program. Soft launch with the project users (Willdan and KC3) is set for the week of 9/8, with full launch including contractors the week of 9/22.
• We’ll also be able to turn on the team scoped buildings feature for users, which I think will be a big step towards making users feel like they are part of a larger effort.

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?