Three things to know about September:
- Atlas renewed. Our flagship customer, whose renewal was at risk at the end of August, signed a new multi-year agreement on 29 September. We kept them without a straight discount, and the share of revenue we keep from existing customers is back on target at 93%.
- The quarter closed on its goals. We signed 28 new customers (goal 28), brought in €752K of new yearly revenue (goal €750K) and landed our third large (over €100K) customer on 28 September. Revenue the company earns each year now stands at about €4.2M, on the way to €5M.
- A few near misses, none of them worrying. Average deal size ended at €89.6K against a €90K goal, the app’s speed missed its target by a hair, and Italy, our third European country, is still a Q4 job.
The company at a glance
OKRnest › Explore › Table
The quarter closed with every team finishing at or very near its goals. The yearly plan is at roughly four-fifths of the way there, with a quarter to go.
OKRnest › Explore › Timeline
The dotted line is the pace we needed; the dots are where we were. The quarter ran ahead of that line almost the whole way and finished right on it. The yearly plan is still slightly ahead of schedule.
The annual scorecard
OKRnest › Teams › Leadership › Status
- Revenue: about €4.2M of €5M. On pace, with roughly €790K still to add in Q4.
- Customers: 113 of 120. On pace; seven to go.
- Hiring: 18 of 20. On pace; the last two roles are in final interviews.
- Europe: 2 countries of 3. Behind. Italy’s company registration is filed and the launch is planned for Q4.
Featured team: Engineering — a clean quarter after a rough spring
Each month we put one team in the spotlight. This month it’s Engineering. In May they had our worst outage of the year; this quarter they set out to prove it won’t happen again, and they largely did.
OKRnest › Teams › Engineering › Status
- Reliability promise kept. We promise enterprise customers the platform is up 99.99% of the time. We met that for the full quarter, and the record helped persuade Atlas’s finance team to renew.
- Faster fixes. When something serious breaks, we now fix it in 12 minutes on average, down from 19 at the start of the summer. The team automated the recovery steps that used to be done by hand.
- More data handled. The platform now processes over 150 million emissions data points a day, partly driven by our new German customers.
- The one miss: speed. The app’s response time ended a fraction short of its target (60.4 against 60 thousandths of a second). Users won’t notice the gap, and the fix went live on 29 September, so the improvement will show in October.
OKRnest › Key Result sheet — “Achieve 99.99% platform uptime SLA”
The chart tells the story: a short wobble in August, then a steady climb, reaching the promised level in mid-September and holding it to the end of the quarter.
What went well
- Keeping Atlas without giving away margin: a longer contract with volume pricing instead of a discount.
- New business landed exactly on goal: 28 new customers, €752K new yearly revenue, 3 of 3 large customers.
- Marketing hit nearly everything: 2,800 enterprise leads, over €1M of revenue it helped win, and its tenth conference talk or published article for the quarter.
- Support finished above target on customer satisfaction (96.4%) and answers customers in 43 minutes on average, under the 45-minute goal.
What needs watching
- Italy. Europe is our one yearly goal that’s behind. Launching the third country in Q4 is the main thing that turns it green.
- Deal size. Average deal size recovered from €80.5K to €89.6K this quarter, but slipped back slightly in the final week. We’ll keep the discount rules tight.
- Q4 revenue. Reaching €5M for the year needs about €790K more, a little more than this quarter’s new business. It’s achievable, but it leaves no room for a slow quarter.
One name worth knowing
David, who looks after our largest accounts, steered the Atlas renewal from the first cost challenge in August to the signature on 29 September. He turned it around without a discount, by making the case on reliability and offering a longer deal instead.
Everything in this report is live in OKRnest — happy to drill into any number in the meeting.