BG-Demo - Board Pack - quarter to 31 Mar 2024

• It is a contracted number. It rests on signed order forms. Where a CRM record and an order form disagree, the order form wins, and we have reported accordingly.
• It is subscription only. Implementation is a separate, fixed-fee line and sits outside this figure.
• It is one point in time. This pack does not carry a prior-quarter comparison, so it makes no claim about growth in the quarter. We would rather say that plainly than offer a rate we cannot show from the records in front of us.

Customers

We finished the quarter with 18 customers.

We count one organisation once. If two records in the CRM share a domain, they are the same company and their ARR is counted a single time. A customer is a customer because it holds a live contract, not because a lifecycle stage in the CRM says so.

This pack does not break the base down by tier, by region or by renewal date. That cut will come in a later pack once we are happy it reconciles to accounting.

People

Headcount at quarter end was 15.

HR is the source for who works at BG-Demo. Anyone who has left is not counted here and is not treated as the owner of an account, whatever an old CRM field says.

What the numbers say

The business at this point is small and contract-led. Eighteen customers and a team of fifteen means each account matters, and each person carries a lot of them. That is a strength while customers are close to us. It becomes a risk if one person or one champion at a customer is the only thing holding an account together.

B-Viz earns money twice: a fixed-fee implementation when a customer joins, then a subscription that has to be renewed and, ideally, grown. At this size the second engine is the one that decides the shape of the year. Renewals kept at the right price, and customers who widen their use inside their own Snowflake account, matter more than any single new logo.

What the evidence does not show

In the spirit of saying what happened and how we know:

• No comparison with the previous quarter is included, so we are not stating a trend in ARR, customers or headcount.
• No usage data is included. We are not claiming adoption is healthy or unhealthy from this pack.
• No pipeline or forecast is included. Nothing here should be read as a prediction.
• No payment or collections position is included. Accounting decides what was invoiced and paid, and that view is not part of this pack.

Risks we are watching

These are general risks for a business of our size, not findings from the quarter's records:

• Key-person dependence, inside BG-Demo and inside customers, where one champion can leave and the value case leaves with them.
• Stale data, where a source changes and a connector quietly stops loading, so B-Viz answers on old information.
• Unclear value, where a customer cannot say what B-Viz is worth when its renewal comes round.

Next steps

Closing note

The position at quarter end is a contracted ARR of £428k, 18 customers and a team of 15. It is a sound base to build on, and we will be clearer about direction once the comparisons above are in the next pack.

Best, Nell