Customers by end 2028
Enterprise50
Growth70
Foundation80
Annual contract value (£k)
Enterprise ACV£120k
Growth ACV£60k
Foundation ACV£24k
Cost base (2028)
Headcount37
Avg loaded cost£150k
Other opex£2.8M
Gross margin60%
£9.4M
End-2028 ARR · $11.9M · 200 customers
On target
ARR composition by tier
Enterprise £6.0M
Growth £4.2M
Foundation £1.9M
£5.7M
Gross profit (2028 run-rate)
£5.6M
Team cost (2028)
£+1.5M
2028 operating contribution
H2 '28
Contribution break-even
| Year | ARR (exit) | Recognised rev | Cost base | Net funding |
|---|---|---|---|---|
| Cumulative net funding required | £6.5M | |||
Ramp assumptions (fixed): recognised revenue ≈ average run-rate over each year, on the reconciled milestones — end-2026 ~8% · end-2027 ~47% · end-2028 100% of the modelled 2028 ARR. Cost base scales 40% → 75% → 100% with headcount. Figures for board discussion; validate against the Top-150 build.