August Monthly Finance Report
September 10, 2026
August was another quiet, profitable month. Revenue remained steady at $300K, expenses were at their lowest level since January, and we finished with $86.2K of net income — our second most profitable month of the year. We also closed the month with $1.08M in cash. This is a business that pays for itself: profitable on an accrual basis every month of 2026, cash-positive in seven of eight, and bringing in more income than we spend, which is important for the lean months we usually see at year end. Our top risk remains customer concentration.
What’s Going Well
Section titled “What’s Going Well”Eight straight profitable months, with August ($86.2K) second only to May ($169.7K). On the cash side we’ve been positive in seven of eight; April was the one exception.
Spending is under control. August expenses were at their lowest since January, and while YTD spend is up 23% YoY, revenue is also up 117%. YoY change is due to additional engineering headcount and the SOC 2 audit expenses, not discretionary spending.
Cash and collections both got stronger. We’re at $1.08M in cash, which covers about four and a half months of expenses, up from two months in April. Our AR collection rate is healthy - July and August averaged about 99% (June was an outlier at 212%, driven by catch up on older balances) - meaning we are collecting close to what is billed each month.
Revenue is predictable: almost all of it is contracted, and the last five months have brought in about the same amount. This predictability is what makes the forecast and the buffer targets worth anything.
One thing to watch
Section titled “One thing to watch”Revenue concentration remains our main risk. Three contracts are 85% of our revenue, and one relationship, Willdan, is 63% of it across two agreements. The programs behind that revenue are contracted for the next two years, so there’s no near-term exposure - but it’s still the item most in need of a long-term diversification plan (which we are already starting to think through)
Erika
Metrics
Section titled “Metrics”- Unique Buildings: 24,461 (Real time, via Admin panel!)
- Annual Run Rate: $3.47M
| Metric | Value | Takeaway |
|---|---|---|
| Revenue (YTD) | $2,319,575 | +117% YoY and +$600K over FY 2025 revenue |
| Transaction fees | $61,162 | No transaction fee revenue in August |
| Annual run rate | $3,470,968 | Expected - no new subscriptions |
| Cash | $1,084,828 | Highest month-end balance this year and +63% YoY |
| YTD Cash In / Out | $2,688,377 In / $1,948,587 Out | Good - we are earning more than we are spending |
| Accounts Receivable | $39,377 | Good - we are -7.8% MoM and collecting what we bill, on time |
| Net burn (monthly, accrual) | $86,162 | Positive - we are not burning cash and are +99.5% MoM |
| Net burn (YTD-to-last-month, cash) | $92,474 | Positive - we are not burning cash |
Details:
No notes this month.
| Department | Spend | Explanation of MoM Spend |
|---|---|---|
| COGS | $24,892 (+22.5% MoM) | Increase due to Fly.io expenses |
| G&A | $55,538 (-33.1% MoM) | Expected - no retirement contributions or legal fees in August |
| R&D | $139,838 (-5.1% MoM) | Expected - lower consultant fees in August |
| Sales | $21,740 (+0.6% MoM) | Increase due to unexpected subscription renewal |
Development
Section titled “Development”This Week’s Highs and Lows
Section titled “This Week’s Highs and Lows”- We’ve deployed flood vents, our first resiliency measure. It is recommended when we detect that a building is in a flood zone. (FH)
- We received a surge of engagement from DOB on the LL97 agent, with the logs showing them pepper the agent with more and harder questions. (FH)
- Had a call with NYSERDA that unfortunately surfaced some issues with NYSERDA heat pumps incentives - good to know so we can correct! (JIB)
- Have now posted a number of updated video tutorials on using Momentum that feature the building lobby and current UI! (JIB)
- Presented with IMT to cohort of community lenders on Future Housing (and a bit of Momentum). (JIB)
Any missing highlights? Please share in Discord comments.
On Deck for Next Week
Section titled “On Deck for Next Week”- 2030 Open Strategy Forum all hands meeting coming up next Thursday!
- Open enrollment for eligible employees
Upcoming Releases
Section titled “Upcoming Releases”Please Leave Feedback
Section titled “Please Leave Feedback”Please note your reaction to this update in the Discord 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?