Three things to know about August:
- We passed 100 customers. We crossed the 100-customer mark early in the month and finished at 106, against a goal of 120 for the year. The money customers pay us each year climbed to €3.9M, on the way to our €5M target. Both on pace.
- Europe finally moved. After being stuck on one country since the spring, we went live in a second European market. That takes us to two of the three countries we planned this year. The third, Italy, has slipped to the autumn.
- Sales is winning on deal size, but one big renewal is at risk. Our average deal size climbed back to €88.4K (target €90K) and we signed our second large (over €100K) customer. The watch item: our flagship customer, Atlas, has put its renewal under a cost review.
The company at a glance
OKRnest › Explore › Table
Two months into the quarter, most teams are tracking green at the top line. There are a few amber bars mid-quarter, which is normal at this stage, and one red that matters: customer retention in Sales, which is the renewal story below. Overall we’re roughly three-quarters of the way to this year’s targets with four months to go.
OKRnest › Explore › Timeline
The dotted line is the pace we’d need to hit the goals on time; the dots are where we actually are. Both the yearly plan and the quarter are sitting above that line — we’re ahead of schedule, not behind it.
The annual scorecard
OKRnest › Teams › Leadership › Status
- Revenue: €3.9M of €5M — on pace.
- Customers: 106 of 120 — on pace, and past the 100 milestone this month.
- Hiring: 15 of 20 — on pace.
- Europe: 2 countries of 3 — behind, but moving at last (below).
OKRnest › Key Result sheet — “Launch platform in 3 new European countries”
This bar had been red since April, stuck on regulatory uncertainty. In August it finally moved: our second European country went live, taking us from one to two. The third, Italy, needs a bit more setup and now lands in the autumn — so the bar stays amber, honestly, until that one is live.
Featured team: Sales — the grind pays off
Each month we put one team in the spotlight. This month it’s Sales, because two long-running efforts came good — and one new risk appeared.
OKRnest › Teams › Sales › Status
The volume is there: 20 new customers of a 28 target for the quarter, on pace. The deal-size story is the good one. All spring we gave away margin on discounts; since July the team has been rebuilding average deal size a little each week, and it’s now back to €88.4K against a €90K goal — almost all the way, without buying it back with new discounts.
OKRnest › Key Result sheet — “Sign 3 marquee logos (>€100K)”
We now have two of the three large (over €100K) customers we set out to sign this quarter — the second, a Nordic utility group at €124K a year, signed mid-August. The third is in final contracting, so this is within reach before quarter-end.
What needs watching: the Atlas renewal
The one red bar on the whole board is customer retention — how much revenue we keep from existing customers. It sits at 92.1% against a 93% goal, and it turned red at the very end of the month for a specific reason: Atlas, our flagship customer from the spring, has opened its renewal with a cost challenge from their purchasing team. Losing them would pull retention below 90%.
The team isn’t discounting to save it. They’ve put our reliability track record in front of Atlas’s leadership and offered a multi-year structure with volume pricing instead of a straight discount. A decision is expected in late September. It’s the single most important number to watch going into the last month of the quarter, and we’d rather flag it plainly now than have it surprise anyone.
One name worth knowing
David, who looks after our largest accounts, is the one steering the Atlas renewal. He turned three furious escalations into renewals during the spring outage through sheer persistence, and he’s the right person to have in the room now. Whatever the outcome, it won’t be for lack of care.
Everything in this report is live in OKRnest — happy to drill into any number in the meeting.